Daily FX Profit Signal January 28th, 2010

The dollar closed the day a touch firmer, on the day that perhaps should have brought on more volatility with the Bernanke speaking about the future of US interest rate policy. As expected, interest rates did not increase and the Fed’s statement didn’t alter the market perception about rates remaining low for an extended period of time. Federal Reserver member Hoenig was the only one to dissent from the statement “keep interest rates low for an extended period of time”; this may have been the only interesting bit to the news release - story attached
(http://www.bloomberg.com/apps/news?pid=20601087
<http://www.bloomberg.com/apps/news?pid=20601087&sid=a43kXbcN.fAU&pos=4>
&sid=a43kXbcN.fAU&pos=4)

We will have more on this in the future, as of now, we expect the dollar to continue gaining ground and a break below 1.4000 seems inevitable. We must wait for Europe’s reaction to the breach of the 1.4000 figure.

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Free Daily Forex Video January 28, 2010

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Daily FX Profit Signal January 27th, 2010

 

The dollar gained a bit of strength against most of the majors following the last couple of days of consolidating. European economic data was better than expected and UK and US data was mostly worse than expected. The important data out today will be the Australian CPI q/q, New Home Sales out of the US along with the much anticipated Federal Funds Rate and FOMC statement, and NZ Cash Rate along with the RBNZ Statement. This should all point to further signs of dollar strength and we will be looking to break the 1.4000 mark

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Free Daily Forex Video January 27, 2010

 

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Daily FX Profit Signal January 25th, 2010

The dollar was mixed across the board on Friday as traders looked for consolidation and profit taking after a bullish breakout. Most expect the dollar to continue gaining ground, perhaps not as quickly, but we project 1.3800/Euro by Friday. There is a lot of economic data to be digested and this will surely play an important role. Most likely, the data will support the dollar rally and we’ll see further strength.     

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Daily FX Profit Signal January 25th, 2010

The dollar was mixed across the board on Friday as traders looked for consolidation and profit taking after a bullish breakout. Most expect the dollar to continue gaining ground, perhaps not as quickly, but we project 1.3800/Euro by Friday. There is a lot of economic data to be digested and this will surely play an important role. Most likely, the data will support the dollar rally and we’ll see further strength.     

 ...{+}

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Free Daily Forex Video January 25, 2010

 

 

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Daily FX Profit Signal January 22th, 2010

Another strong day for the dollar as risk appetite continued to weigh on the markets. Data out of the US came in worse than expected, unemployment claims were higher than expected and the Philly Fed Mnfg. Index was lower. Not a lot of data out on the final trading day of the week, except for Retails Sales from the UK and Canada (we’ll cover that in the video), so we are going to expect consolidation across most of the majors, and will hope to see some retracement so we can look to establish some fresh positions. Next week is going to be very important as there is a lot of data to go over including US Fed Funds Rate and FOMC statement on Wednesday along with the Advanced GDP reading on Friday to close out the month of January. 

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Free Daily Forex Video January 22, 2010

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Daily FX Profit Signal January 21th, 2010

Here we are, with what seems to be like a solid dollar recovery. We should now expect continuation with some retracements along the way. Following yesterday’s strong rally, our view is that traders have now chosen a direction and will find catalysts to continue pushing for further gains. There will be bumps along the road, that’s expected, but what we must continue to monitor is risk appetite and economic data. The forex market is very technical and is often irrational, but we must not escape the longer term fundamentals. With that being said, in the short term, fundamentals won’t do anything, whether good or bad  as the trend is strong and will most likely continue in the coming weeks. What more is there to say. good luck trading and never forget, the trend is your friend.

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