FXstreet.com

Market Opinion

This report has been deactivated

4

0

Dow Stages Late Session Rally

Tue, Nov 18 2008, 22:00 GMT
by James Whyte

ForexAmericas


Market View for November 19, 2008

The Dow staged a late session rally to close up 151 points, after showing triple digit gains then losses earlier in the session.  The rally was led by tech stocks after HP forecast strong 4th quarter earnings.  Energy stocks were also higher, although oil was down once again. Financials were mixed, with Citigroup once again losing 7%.  The Nikkei was down 2%, but European stocks ended up about 1%.  The focus after hours is on the senate hearings for the big 3 automakers, and whether or not they can get any help from the U.S. government.  The fickle currency markets are once again closely following the equity markets.

EUR/USD:

Euro fell in NY after retesting a resistance line, which now comes in at 1.2678.  We are looking to sell ahead of that line with a tight stop at 1.2705.

USD/JPY:

Dollar Yen kept a fairly tight range of 96.30-97.40.  We look play this range for now.

GBP/USD:

Sterling tested 1.5095 in early London before breaking the 1.4970 old resistance on the downside to test 1.4890.  On the back of the Dow rally, cable could retest the high 1.50’s, and we look to 1.5100 to cap it for now.

AUD/USD: 

Aussie rose and fell and rose with the Dow, climbing 100 pips in the last hour of trading.  .6600 resistance remains intact for now.


Archive

ForexAmericas  | 5141 Cheryl Drive Huntington Beach, CA 92649
http://www.forexamericas.com/ | info@forexamericas.com

Legal disclaimer and risk disclosure

Any opinions, news, research, analyses, prices, or other information contained on this website or in our newsletters is provided as general market commentary, and does not necessarily constitute investment advice. The ForexAmericas, JW Corp., its affiliates and agents 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.

Related reports

FX View - Headline unemployment rate creates dollar shocker by Interactive Brokers LLC
Fri, Nov 6 2009, 18:41 GMT

Forex Daily Overview - USD mixed, unemployment rises to 10.2% by Easy Forex
Fri, Nov 6 2009, 18:31 GMT

Forex Daily Analysis - USDJPY is moving towards support level at 89.55 by Investija.com
Fri, Nov 6 2009, 14:35 GMT

Forex Technical Report - U.S. Markets Brace for Jobs Data by ForexHound.com
Fri, Nov 6 2009, 13:29 GMT

Forex Technical Report - Dollar Trading Lower Ahead of U.S. Jobs Data by ForexHound.com
Fri, Nov 6 2009, 13:19 GMT

audusd, eurusd, gbpusd, usdchf, usdjpy

View All

Related content

Forex: EUR/USD: Euro post weekly gains
FXstreet.com | Fri, Nov 6 2009, 22:49 GMT

CURRENCIES: Dollar Dips Vs. Yen As Jobs Data Have Fed On Hold
Dow Jones | Fri, Nov 6 2009, 22:14 GMT

U.S. markets ended with small gains, up for the week; Dollar mixed
FXstreet.com | Fri, Nov 6 2009, 21:32 GMT

Forex: GBP/USD: Cable hovering around 1.6600
FXstreet.com | Fri, Nov 6 2009, 20:34 GMT

CURRENCIES: Dollar Dips Vs Yen As Jobs Data Has Fed On Hold
Dow Jones | Fri, Nov 6 2009, 20:25 GMT

audusd, eurusd, gbpusd, usdchf, usdjpy

View All

Interested in forex trading? forex brokerage firms!


FX Solutions LLC
Contact the broker/FDM
Open a demo account
ACM Advanced Currency Markets SA
Contact the broker/FDM
Open a demo account
Saxo Bank A/S
Contact the broker/FDM
Open a demo account
IG Markets
Contact the broker/FDM
Open a demo account
CitiFX Pro
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.