FXstreet.com

FX Weekly Report

4

0

USD in range − Patterns unclear

Mon, Jun 22 2009, 02:06 GMT
by Pierre Charlebois

Trading Metro


Last week I wrote how the patterns are unclear and it is still very difficult to gauge which way the bias should be on the USD. Indeed we saw the USD loose some of the ground it recently made up.

This week is no different. Overall I still favor USD strength in the longer term, however in the short to medium term, momentum could shift either way.

Virtually all USD pairs have been moving in a choppy manner. In such cases this can equally signal the beginning of a trend or simply a final correction prior to a terminal thrust.

The last 10 days of the month should provide either a final thrust up or an accelerated continuation.

What I have attempted to do in this week's report is; identify where the reversal/break-outs should occur.

Cheers and good trading this week.

eur

GBP

AUDUSD

ej

CAD


Archive

Trading Metro  | #310 - Dunsmuir Street. Vancouver, BC V6C 1N5
http://www.tradingmetro.com/ | admin@TradingMetro.com

Legal disclaimer and risk disclosure

High Risk Investment Commodity Futures Trading Commission Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to Buy/Sell futures, stocks or options on the same. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results. There is considerable exposure to risk in any off-exchange foreign exchange transaction, including, but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price. CFTC RULE 4.41 - HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN. The content provided in this site is put forward in good faith and believed to be accurate, however there are no implicit guarantees of accuracy. The reader accepts that by using this information, he or she will not hold Trading Post Financial Services, Inc., ('Trading Post') responsible for decisions based on information from this site. This website may contain links to other websites. These links are provided as references to help you identify and locate other Internet resources that may be of interest. These other websites were independently developed by parties other than Trading Post Financial Services Inc. and Trading Post does not assume responsibility for the accuracy or appropriateness of the information contained at, or endorse the viewpoints expressed at, such websites. Currency trading is risky, it involves substantial risk of loss, it is not appropriate for everyone, and therefore only risk capital should be used for trading. Risk capital: money that a person can afford to lose. Past performance is no guarantee for future results. Actual trading results may vary.

Related reports

European Market Update - German IFO survey hits 15 month highs by TradeTheNews.com
Tue, Nov 24 2009, 11:00 GMT

Top Fundamental Stories - German IFO Climbs to the Highest Level in 15 Months by ecPulse.com
Tue, Nov 24 2009, 10:43 GMT

Daily World Market Update - Dollar's Day of Data; GDP, Consumer Confidence, Fed Minutes by World First UK Ltd
Tue, Nov 24 2009, 08:39 GMT

KBC News Picks - US: Existing home sales at highest level since February 2007 by KBC Bank
Tue, Nov 24 2009, 08:24 GMT

Top Fundamental Stories - Europe Ahead: Germany's GDP Unrevised as Imports and Exports Rise by ecPulse.com
Tue, Nov 24 2009, 08:09 GMT

indicator, usd

View All

Related content

Forex: GBP/USD pullback from 1.6595 extends to 1.6530 on manufacturing data
FXstreet.com | Tue, Nov 24 2009, 15:23 GMT

UPDATE: US 3Q GDP Revised Down To +2.8% From +3.5%
Dow Jones | Tue, Nov 24 2009, 15:20 GMT

Richmond Fed: Nov Manufacturing Index 1 Vs Oct 7
Dow Jones | Tue, Nov 24 2009, 15:12 GMT

Brazil's Government Forecasts Exports At $168B In 2010
Dow Jones | Tue, Nov 24 2009, 15:08 GMT

US Sep Housing Price Index stays flat from last month
FXstreet.com | Tue, Nov 24 2009, 15:04 GMT

indicator, usd

View All

Interested in forex trading? forex brokerage firms!


FOREX.com
Contact the broker/FDM
Open a demo account
MG Financial Group
Contact the broker/FDM
Open a demo account
Capital Market Services, L.L.C.
Contact the broker/FDM
Open a demo account
IG Markets
Contact the broker/FDM
Open a demo account
City Credit Capital (UK) Limited
Contact the broker/FDM
Open a demo account

GET CASH BACK FOR YOUR TRADES!   Learn more about the Pip Rebate Program

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer.

Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.

Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. FXstreet.com has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.

Any opinions, news, research, analyses, prices or other information contained on this website, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

©2009 "FXstreet.com. The Forex Market" All Rights Reserved.