Forex Daily Review: Spain Regional Elections and GBP/AUD

22 Oct 2012• Matti Williamson, FX and commodities analyst      Spain Regional Elections in Galicia and the BasqueElections in Galicia (Spain) showed great support for the ruling People’s Party (PP), which supported the gains in Euro-dollar through the Asian session. In the Basque however, PP failed in garnering votes. The Basque Nationalist Party (PNV) and the EH Bildu...

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Forex Daily Review: EUR/USD $1 Billion Option Strike

spontaneous’ spike holds a great secret within its Japanese candlestick. $1.0 billion dollar option strike was placed a 1.3050 for yesterday’s New York (NY) cut at 14:00 GMT. The holder of the the option was said to be a large US investment house that was blamed for the tight range in Euro-dollar until the NY cut. EUR/USD spiked View...

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Forex Daily Review: Another Day, Another Bear

24 Oct 2012• Matti Williamson, FX and commodities analyst      Australian CPI and China Manufacturing DataYesterday’s session was enriched with the fine touch of the bear. Moody’s downgrades and reports that Spain’s gap between spending and taxes could be as high as 7.3% of GDP. Weak US earnings assisted the bears’ pressure on EUR/USD, shoving the pair from...

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Forex Daily Review: EUR/JPY Bearish Gift

25 Oct 2012• Matti Williamson, FX and commodities analyst      EUR/USD bulls' won the battle of 1.3000, soaking the heavy offers as the pair currently trades at 1.3005. The Japanese yen was heavily sold into Europe on reports that the BOJ will expand its asset purchase facility by View the Original article summary("6848484555408327989")...

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Forex Daily Review: Will Fitch Take Action and Downgrade the US?

EUR/JPY bearish gift could have been great for Christmas. The pair reversed its hard-gained in accordance to my technical analysis as risk-aversion dominates once again the financial markets. US earnings report failed to trigger a buying-spree in the US indices, resulting in hefty losses to SP500. Once of the main catalysts for the strong weakness are market speculations that...

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Forex Daily Review: Hurricane Sandy and EUR/USD

29 Oct 2012• Matti Williamson, FX and commodities analyst      The Euronext's New York Stock ExchangeForex traders woke up to the news that hurricane Sandy forced the closure of the US stock market for Monday and possibly Tuesday according to recent reports. The hurricane could harm the employees' safety and the major exchanges. The NYSE Euronext's New York...

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Forex Daily Review: BOJ Disappoints but Greece is the Big Bear

30 Oct 2012• Matti Williamson, FX and commodities analyst      BOJ Expands Easing MeasuresThe most-expected announcement from the BOJ disappointed the forex traders as the central bank expanded its asset purchasing program from View the Original article summary("3892717599144381937")...

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Forex Daily Review: End of Month FX Flows, USD or CHF?

31 October, 2012, the last day of the month is often reflected in the Forex market during the fixing hours. End of month FX flows may show great demand for the US dollar against the major currencies due to:Recent natural disastersUpcoming US electionsGreece difficulties in achieving its fiscal goalsPotential US fiscal cliffUncertainty in global markets forces traders to seek...

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Forex Daily Review: Naked CDS Ban’s Effect on the Forex Market

01 Nov 2012• Matti Williamson, FX and commodities analyst      EUR/USD and the Naked CDS BanHefty demand was seen for the US dollar in yesterday's session through the fixing hours as expressed in yesterday's market review. EUR/USD erased its hard-earned gains and plummeted from 1.3019 to 1.2927 at the time of this writing. End of month FX flows...

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Forex Daily Review: Will the US Earnings Surprise Again? AUD/JPY Holds the Answers

16 Oct 2012• Matti Williamson, FX and commodities analyst      Today's US EarningsStrong US earnings boosted the risk sentiment in the Forex market. EUR/USD posted strong gains through Asia, attempting to break above 1.3000 at the time of this writing. Traders will focus on today's US earnings for Goldman Sachs Group, State Street Corp, Coca-Cola Co, Intel Corp,...

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Forex Daily Review: EUR/USD Gains on Precautionary Conditioned Credit Line (PCCL)

17 Oct 2012• Matti Williamson, FX and commodities analyst      Moody's Credits the ECBMoody's Investors Services affirmed Spain's Baa3 credit rating with a negative outlook. Moody's confirmed Spanish sovereign losing capital market access has been materially reduced as the European Central Bank (ECB) was willing to purchase Spanish bonds to limit price volatility.EUR/USD stretched its gains above 1.3100...

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Forex Daily Review: EU Summit Possible Effects on EUR/USD

18 Oct 2012• Matti Williamson, FX and commodities analyst      S&P Downgrades Ahead of the SummitToday's EU Summit is expected to draw the market attention in hopes that Spain may finally request financial aid to deal with its growing debts and perhaps Torika will surprise and announce Greece's problems are being resolved at a steady pace. Let's first...

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Forex Daily Review: PLdot may Affirm the Downtrend in Euro-dollar

19 Oct 2012• Matti Williamson, FX and commodities analyst      EU Summit, Day IITraders that hoped for a deeper solution for Greece may have to wait until 28 October summit that is viewed as the most important meeting this month. Yesterday's EU summit concluded a supervisor for Euro-zone banks is required and should be implemented in the upcoming...

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Forex Daily Review: China RRR Cut Speculations are Officially Denied

12 Oct 2012• Matti Williamson, FX and commodities analyst      China RRR cut Speculation DenialVicious speculations flooded the market in the European session China will cut its interest rate (RRR) at 04:15. EUR/USD violated some hefty stops as it topped 1.2984 but the bullish momentum may soon fade as forex traders are considering to dismiss the speculation of...

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Forex Daily Review: EUR/USD Intraday Bearish Correction

15 Oct 2012• Matti Williamson, FX and commodities analyst      Spain Bailout Request, Not Before October 21stForex traders dismissed the strong trade balance data from China over the weekend and sold EUR/USD through the Asian session as Spain disappointed the market by refusing to ask for a financial bailout. It is possible that Spain will wait for October...

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Forex Daily Review: BOJ Warns, CAD/JPY Prepares to Gain

05 Oct 2012• Matti Williamson, FX and commodities analyst      BOJ Monetary PolicyThe Bank of Japan (BOJ) concluded its 2-day meeting and kept its asset purchasing program unchanged. The market was slightly disappointed and bought then the Japanese yen (JPY) in response to the muted action. However, forex traders are missing a very important detail about Japan's rate...

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Forex Daily Review: What is the Bearish Target for GBP/AUD Correction?

08 Oct 2012• Matti Williamson, FX and commodities analyst      Non-Farm Payrolls StrategyMy technical analysis for CAD/JPY for the Non-Farm Payrolls (NFP) triggered its bullish target as the previous figure was revised higher, smothering the market with positive sentiment that weakened the Japanese yen (JPY) and US dollar (USD) against a basket of currencies. National holidays in Japan,...

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Forex Daily Review: GBP/AUD Skimmed the Target, EUR/USD is Observed

09 Oct 2012• Matti Williamson, FX and commodities analyst      EUR/CHF 'Mysterious' GainWhat may have left certain traders puzzled is EUR/CHF unexpected bullish spike, perhaps thought to be a minor FX intervention by the Swiss National Bank (SNB):View the Original article summary("443831878150934206")...

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Forex Daily Review: EUR/USD Bullish Correction, When Will it Begin?

EUR/USD was gunned down by the bears as Bloomberg mistakenly posted the wrong yields for Spain 10-year benchmark, causing heavy selling in EUR/USD. The weakness continued into the US session despite Bloomberg notifying all its clients of the error. Euro-dollar neared its support at 1.2830, implying a bullish correction may be seen in today's session as mentioned in yesterday's...

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Forex Daily Review: Back to Commodities, Soybean is Observed for Gains

01 Oct 2012• Matti Williamson, FX and commodities analyst      Spain Stress Test ResultsFriday's session affirmed what I have suspected. Strong weakness in AUD/USD gunned the bulls' stops as the pair continued to head lower with EUR/USD with end of month FX flows assisting the declines. Speculations flooded the market that Spain stress test results will be far...

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Forex Daily Review: New Japanese Finance Minister, Risk for FX Intervention Rises

02 Oct 2012• Matti Williamson, FX and commodities analyst      The RBA Cuts RateAs expected from early daily reviews, the Reserve Bank of Australia (RBA) slashed its cash rate by 25bps (0.25%) on global slowdown, particularly in China. AUD/USD dropped immediately and is expected to continue its downtrend although the current intraday indicators are in oversold territories at the...

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Forex Daily Review: Aussie Bears are Forgetting PBOC Could Ease

03 Oct 2012• Matti Williamson, FX and commodities analyst      Currency War RecapWhy am I not surprised that AUD/USD is trading at 1.0200? I wrote in earlier market reviews that the strong Aussie (as a result of Fed QE3) will only harm the Australian economy as expensive exports and a continued slowdown in China will ultimately lead to...

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Forex Daily Review: Don't be Fooled by EUR/USD Ambiguous Trend

Academy > Trading Basics > Seasoned Trader > Currency Insights > Special Insights for Traders > Trading Tips > Currency Pairs > Recommended Resources > 5 Insights View the Original article...

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Forex Daily Review: Mind the Bearish Gap in EUR/USD

28 Sep 2012• Matti Williamson, FX and commodities analyst      Spain Budget For 2013 SummaryThe market is in love with Spain's budget for 2013. New fiscal group will now monitor Spain's budget, ministerial spending will be lowered by 8.9% (approx) and spending will be reduced by EUR 40 billion. Tax revenues are expected to rise by 3.8% to...

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Forex Daily Review: EUR/USD Trend in the Fundamental Chaos

My target for AUD/USD was missed by the market but nevertheless a decent decline was noted. Unconfirmed speculations that the Chinese Securities Regulatory Commission (CSRC) will hold a press conference at 08:00am GMT with 'positive news.' This prevents the risk-aversion mode to completely engulf AUD pairs and crosses so weakness could resume after 08:00am GMT. If China doe surprise...

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Forex Daily Review: Europe is in Trouble, Copper Continues to Weaken

24 Sep 2012• Matti Williamson, FX and commodities analyst      Greece's Financial MessEUR/USD is heavily sold into Europe as the market digests weekend reports on Greece and Spain. Greece stated it is short of View the Original article summary("7012184680937169245")...

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Forex Daily Review: AUD/USD Bears are Ready to Chew the Bulls’ Stops

25 Sep 2012• Matti Williamson, FX and commodities analyst      S&P Downgrades Growth ForecastsThe slowdown in China was finally noticed by Standard & Poor's (S&P) credit rating agency:"We have lowered our base case forecasts of 2012 real GDP growth by about half a percentage point for China to 7.5%; Japan to 2.0%; Korea to 2.5%; Singapore to 2.1%;...

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Forex Daily Review: China Initiated the Bearish Outlook for Gold, Crude Oil and AUD

My focus on AUD/USD is paying off. As expected, HSBC China Manufacturing PMI remained below 50.0, which indicates the economy is still contracting. A slowdown in China means it may purchase less goods from Australia, denting the AAA Australian sovereign rating. The Australian dollar (AUD) is expected to weaken against a basket of currencies on the fears that the...

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Forex Daily Review: ESM Cheers won’t Help Copper

21 Sep 2012• Matti Williamson, FX and commodities analyst      ESM AnnouncementThe European Stability Mechanism (ESM) may finally be signed next Wednesday in Brussels, boosting the market bulls as the DAX 35 Index opened higher at 7420. The hawkish news may drive markets higher in today's session, reflecting in temporary gains in EUR/USD. The gains are unlikely to...

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Forex Daily Review: The Fed QE3 will Initiate the Currency Wars

14 Sep 2012• Matti Williamson, FX and commodities analyst      The QE3 DetailsBen Bernanke unleashed the bullish devil and announced a third round of Quantitative Easing, known as QE3. The Fed will continue to purchase Treasuries under the maturity extension program (Operation Twist) and will begin buying $40 billion of agency mortgage-backed securities (MBS). The total value of...

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Forex Daily Review: The Netherlands 2012 Elections Effects on EUR/USD 1.2900

13 Sep 2012• Matti Williamson, FX and commodities analyst      Following the 2012 Dutch elections, exit polls suggest that Mark Rutte's party (Party for Freedom and Democracy) is in the lead with 41 seats out of the 140-seats in Parliament. The victory however is limited as the left Labour Party, led by Diederik Samsom is expected to receive...

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Forex Daily Review: EUR/USD Broke 1.2800, What's Next?

Academy > Trading Basics > Seasoned Trader > Currency Insights > Special Insights for Traders > Trading Tips > Currency Pairs > Recommended Resources > 5 Insights View the Original article...

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Forex Daily Review: The Baltic Dry Index Signals the Slowdown

11 Sep 2012• Matti Williamson, FX and commodities analyst      Dutch 2012 Elections and ESMIn a relatively muted session, the major currencies failed to provide a clear trend ahead of the heavy fundamentals, starting on Wednesday with the Dutch 2012 elections and the German Constitutional Court ruling on the European Stability Mechanism (ESM) and the fiscal compact. Moody's...

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Forex Daily Review: German Court Ruling at 08:00am GMT, Watch EUR/USD

12 Sep 2012• Matti Williamson, FX and commodities analyst      To QE3 the Market? Ask Moody'sIn a relatively peaceful European session EUR/USD was refuelled through the US session. Although many traders believe the US dollar is weak due to the upcoming decision on the ESM by the German Constitutional Court or a possible QE3 by the Fed however,...

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Weekly Technical Analysis: Say Goodbye to $1,700 an Ounce

Gold has finally delivered the perfect price for a great reversal. To recap, gold broke out its supportive trendline that remained intact since 2008. In may 2012 the price broke below the trendline, signaling further weakness is in store. The market failed to retest the trendline, which now acts as a strong resistance. My patience paid off as gold...

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Forex Trader Forum - Where Forex Traders Talk About Forex

Savvy forex traders often pinpoint the opportunities in forex trading and persist to time the industry so they know precisely when the right time is to trade, or buy. The problem is many traders buy at the wrong time, although they have monitored, explored, and checked the quotes daily. In addition, these people tend to bank on the notion...

Forex Trader - Learning the Secrets Behind Forex Trading

Forex trader is a word you are going to here for a very long time when you enter the forex market. The forex market is by far the largest market in the world and over 2 trillion dollars are traded daily on this market! It is hard to imagine what 2 trillion dollars actually is. This 2 trillion dollars...

Forex Software - How to Achieve Consistency in the Forex Market

Choosing the best Forex software to purchase can be a daunting task; a vast assortment of different programs are available, many with similar features and track records. This article is meant to provide some guidelines to follow when choosing a Forex program to buy.The first and most obvious question is whether or not there is such a thing as...

Forex Signals - How to Instantly Trade Like You Have Decades of Forex Trading Experience

Seriously consider forex signals if you are not yet trading profitably, have limited experience, or just don't have much time to devote to your forex trading.From the simple one email a day variety to the forex mentor who sits with you all day holding your hand as you trade, a portfolio of forex trade alerts can be virtually free...

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Forex Secrets - Support and Resistance Levels in Forex Market

Support and resistance are the known cornerstones in Forex technical, wherein:1. a current Forex rate (CFR) is surrounded by levels of:a). resistance being superior to CFR;b). support being inferior to CFR.2. a level breakthrough triggers a leap to a consecutive support/resistance;3. a false breakthrough is responsible for a rate backstroke (say, from resistance to support).Thus, having data on resistance...

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Forex Secrets - Delusion Number 2 - Who Prompts Forex Quotation to Traders?

The delusion conceptually propounds that traders operate at a spontaneous FOREX market (as stipulated by B. Williams, A. Elder, E. Nayman, etc.). But it is not the case. Traders do their job inside a well-organized and controlled currency exchange market, governed by the Consortium of the world's largest banks.Hence, who is pushing the currencies up and down, who defines...

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Forex Secret Tips No 11 - Successful Forex Traders Do These

What separates successful Forex traders from the rest of the pack? Why is it that only a mere 5% really make it in Forex trading? How did these traders do it? While all successful Forex traders have their proven Forex trading strategies and systems to call and manage their trades, they know there is one more important thing to...