Daily Trading Forecast

12

0
Volatility Shrinks
Thu, Nov 20 2008, 11:00 GMT
by Swiss e Trade Strategy Team
Swiss e Trade AG
Yesterday’s rather drowsy Forex trading activity is in stark contrast to the stock markets’ extreme volatility, best described as crash in installments. Here, expressions used by Mr. Bernanke like "long recession" are certainly not helpful and should be avoided by the head of a central bank overseeing the world’s reserve currency.
With the current renewed turmoil in financial markets, syphoning liquidity and attention off Forex, we do not see much volatility returning today. In our outlook below, we therefore reduce the expected trading ranges in the major pairs. U.S. Leading Indicators for October are due for release today at 16:00 CET. This indicator could probably shift back into the focus of Forex traders - expected is a further decline.
by George Clement
Intraday Market Outlook for Day Traders
EUR / USD
A buying mood for the pair emerged in early European trading, which we see continuing for today, eventually testing the 1.2590 resistance level. Currently trading at 1.2515, the downside is now protected by the 1.2480 support level.
GBP / USD Cable broke the 1.4900 handle support yesterday, leading to lower trading in this European morning. Currently trading at 1.4860 near another, more solid support, we expect higher prices today, leading to the 1.4900 level again.
USD / CHF The dollar has been consolidating its fresh gains against the Swiss franc in early European trading and is currently priced near the highs at 1.2120. We do not expect the 1.2145 resistance level to be broken today and rather see a test on the downside at 1.2060 support.
USD / JPY The selling mood of the dollar against the yen, emerging yesterday and continuing in all of Asian trading, came to a short halt in early European trading, with current prices of 95.45. We see the established downtrend remaining for today, eventually testing the 94.50 support level.
Published on
Thu, Nov 20 2008, 11:02 GMT
Archive
- USD Still Waltzes to the Same Tune
Published On Tue, Nov 24 2009, 10:58 GMT
- Misinterpreting the Fed's Remarks
Published On Mon, Nov 23 2009, 11:25 GMT
- USD Still Caught in Narrow Ranges
Published On Fri, Nov 20 2009, 11:19 GMT
- EUR: A Confirmation Signal for the Uptrend
Published On Thu, Nov 19 2009, 10:38 GMT
- No Longer the Right Words: "Risk Appetite"
Published On Wed, Nov 18 2009, 11:23 GMT
[ View All ]
Swiss e Trade AG
| Alfred-Escher-Strasse 26 8002 Zurich
http://www.swissetrade.com/ | info@swissetrade.com
Legal disclaimer and risk disclosure
Swiss e Trade AG shall not be responsible for any loss arising from any investment based on any recommendation, forecast or other information herein contained. The contents of this publication should not be construed as an express or implied promise, guarantee or implication by Swiss e Trade that clients will profit from the strategies herein or that losses in connection therewith can or will be limited. Trades in accordance with the recommendations in an analysis, especially leveraged investments such as foreign exchange trading and investment in derivatives, can be very speculative and may result in losses as well as profits, in particular if the conditions mentioned in the analysis do not occur as anticipated.
Related reports
Fundamental Currencies Comments - The yen and dollar strengthened by ecPulse.com
Tue, Nov 24 2009, 16:03 GMT
Forex Technical Report - Stock Markets Flat to Higher Ahead of U.S. GDP Report by ForexHound.com
Tue, Nov 24 2009, 14:51 GMT
Forex Technical Report - Forex Traders Await U.S. GDP Report by ForexHound.com
Tue, Nov 24 2009, 14:50 GMT
Daily Market Report - Indications that the Euro's rally could be running out of some steam by Wells Fargo Investments, LLC
Tue, Nov 24 2009, 14:47 GMT
Interest Rate Monitor - Bonds fail to make headway on latest banking crisis by Interactive Brokers LLC
Tue, Nov 24 2009, 14:36 GMT
eurusd, gbpusd, usdchf, usdjpy
View All
Related content
CURRENCIES: Dollar Gets Boost From U.S. Economic Data
Dow Jones | Tue, Nov 24 2009, 16:30 GMT
Forex: GBP/USD: Cable rebounds at 1.6530 and rises to 1.6590
FXstreet.com | Tue, Nov 24 2009, 16:25 GMT
Forex: USD/JPY: Greenback finds resistance at 88.60
FXstreet.com | Tue, Nov 24 2009, 15:44 GMT
Forex: EUR/USD falls from intra-day high to levels below 1.4950
FXstreet.com | Tue, Nov 24 2009, 15:30 GMT
2nd UPDATE: Asian Shrs End Lower; Shanghai Stocks Tank 3.5%
Dow Jones | Tue, Nov 24 2009, 15:25 GMT
eurusd, gbpusd, usdchf, usdjpy
View All
The Advisor Weblog » EUR/USD still in range
Tue, Nov 24 2009, 16:19 GMT
The Advisor Weblog » Gbp/Usd testing 20 SMA in 4 hours charts
Tue, Nov 24 2009, 16:19 GMT
The Advisor Weblog » Best pair to trade now: USD/CHF
Tue, Nov 24 2009, 16:19 GMT
Chartology » EUR/USD = Seasick?
Tue, Nov 24 2009, 16:16 GMT
FX Market Readings » Subdued moves are seen
Tue, Nov 24 2009, 16:15 GMT
eurusd, gbpusd, usdchf, usdjpy
View All
Gbpusd - Forex Forum - FXstreet.com
Tue, Apr 28 2009, 14:55 GMT
Technical analysis for EUR/USD, GBP/USD - Page 5 - Forex Forum - FXstreet.com
Fri, Oct 10 2008, 12:07 GMT
Yellowlion's Daily EURUSD - Page 6 - Forex Forum - FXstreet.com
Fri, Oct 10 2008, 12:07 GMT
Elliott charts with Grega H. - Page 2 - Forex Forum - FXstreet.com
Fri, Oct 10 2008, 12:05 GMT
Technical analysis for EUR/USD by AceTrader - Forex Forum - FXstreet.com
Fri, Oct 10 2008, 12:03 GMT
eurusd, gbpusd, usdchf, usdjpy
View All
Outlook for the major currencies this week
Ian Copsey | Tue, Sep 30 2008, 08:00 GMT
FX Instructor Live Trading Room
Mark De La Paz | Tue, Sep 30 2008, 11:00 GMT 
FX Instructor Live Trading Room
Mark De La Paz | Wed, Oct 1 2008, 09:00 GMT
Weekly Webinar: 1st on Forex - The Week Ahead
Jerry Furst | Mon, Oct 6 2008, 16:00 GMT
Outlook for the major currencies this week
Ian Copsey | Tue, Oct 7 2008, 08:00 GMT
eurusd, gbpusd, usdchf, usdjpy
View All