Forex Daily Market Review Sep 01, 2010

Source: feedproxy.google.com

By eToro – The Euro consolidated near 1.27 as better than expected housing numbers and strong Asian data kept the Euro from retreating. The market is...


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  • Dead cat bounce on the EUR/USD

    The low from Friday was 1.3934 and we are only 15 pips above there presently. With a 5 wave up-move from 1.2870 to 1.4340 now complete, it’s certainly possible that a short-term top is in place and that we are in retracement mode. The 38.2% of that up-move is at 1.3780. (Technicals to...

  • U.S. Nonfarm jobs fall less than expected, Unemployment rate at 9.4%. US Dollar gains in Forex after report.

    Friday, June 5th - The Department of Labor nonfarm payrolls report showed that U.S. payrolls shed 345,000 jobs in...

  • USD/JPY retrenching; Exporters seen selling rallies

    Japanese exporters have returned to the stage in USD/JPY for the first time in a while. They have offers from 98.80 up through 99.00, traders report. Mid-East accounts were rumored buyers in early US trade but ran into signficant offers in the 99.80/85 region. Given Japan’s rapidly...

  • Euro zone August industrial production +0.9% m/m

    Euro zone August industrial production has come in at +0.9% m/m, -15.4% y/y compared to median forecasts of +1.2%, -15.5% respectively. EUR/USD continues to see good buying interest on any dips, presently up at 1.4905 having been as high as 1.4909. As mentioned earlier, mixture of stops/sell orders...

  • Strange low volume trading?

    Looks like some strange low volume trading going on with EUR/USD. Obviously 1.47 is a solid support, but I don’t put it past the big money to manipulate the little guys out of their...