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The Daily Forecaster: USDJPY
01.07.2008 23:12
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I remain with a broad expectation of a recovery to the 50% retracement at 106.77 though the combination of the pivot resistance and Fibonacci retracement (& projection) at 107.10-20 makes this a stronger bet. We could see some further range trading first but then followed by a break higher. The...
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EUR/USD Could Break Above 1.5800 On Record Surge In Euro-Zone PPI
01.07.2008 22:12
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EUR/USD continues to trade within a wide range of 1.5350 - 1.5800, as the US dollar consolidates across the majors. However there remains potential for an upward swing above near-term resistance at 1.5800 as Euro-zone PPI is scheduled to be released. If figures exceed expectations, the EUR/USD could rally as...
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Forex Exchange Morning Report
01.07.2008 22:12
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The overnight session started out with Dow futures down sharply (around 100pts) and further rumours of impending Israeli air strikes on Iran. This saw the USD soft early and commodity prices bid. However, later in the session, equity markets pushed back to flat for the day after the cash market...
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FX Technical Commentary
01.07.2008 22:12
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Euro 1.5790 Initial support at 1.5720 (June 27 low) followed by 1.5628 (June 26 low). Initial resistance is now located 1.5836 (Jun 30 High) at followed by 1.5844 (Jun 9 high).
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USD Recieves A Boost From ISM Manufacturing Survey, Gold Still Shining
01.07.2008 22:12
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U.S. Dollar Trading (USD) saw some continued weakness early in the European session as potential profit warnings from UBS and Deutsche Bank sent European and US futures into deep negative territory. A surprising jumpin June ISM manufacturing index to 50.2 put the sector in expansion territory for the first time...
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Dollar At Support, Awaiting Employment Data
01.07.2008 22:12
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The dollar was higher against the Canadian and Australian dollars but lower against the yen and European currencies Tuesday. The greenback was supported by an equity rebound as well as an unexpected rise in ISM US manufacturing data. The yen pared earlier gains as US stocks recovered earlier losses. The...
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EURUSD: Short Term Bearish Potential
01.07.2008 18:19
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The EURUSD is expected to exceed 1.6018 and continue on to all-time highs in the next few weeks BUT a triangle may be unfolding in which case the advance from 1.5303 would be wave D and wave E would be underway now. E waves of triangles are usually sharp and...
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Big Reversals Lift the US Dollar
01.07.2008 18:19
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The US dollar has been driven higher by big reversals in the stock market and in the manufacturing sector. The Dow Jones Industrial Average was down as much as 160 points intraday before it reversed sharply to end the day in positive territory. Part of this strength was due to...
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Yen Gains as European and US Stocks Continue Their Slide; Positive ISM Fails to Revive Greenback
01.07.2008 18:19
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After getting a boost from the ISM data, US equities fell back into negative territory in the early afternoon, with the Dow Jones index was 130 points a little past noon. The Dollar-Yen pair was weaker overnight and the Dollar's gains from the better than expected ISM release were cut...
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Yen Crosses are Mixed
01.07.2008 17:13
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The EURJPY should continue higher over the next several weeks and maybe longer. There are 2 bullish counts. One treats the decline from the 168.94 top as a completed A-B-C correction (truncated wave C). The other treats the decline as a triangle with wave E ending at 158.60. In both...
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USD Firms on ISM
01.07.2008 15:15
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The greenback recovered against the majors in the Tuesday session following sharply better than expected US manufacturing data, pushing the currency toward the 106-level against the yen and 1.5734 against the euro. The June manufacturing ISM report defied consensus estimates for a deterioration to 48.6 from 49.6 in May, instead...
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Forex Funnel Automated Forex Signaling & Trading
01.07.2008 15:15
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Why is it that other systems will only give you a small backtest report? They refuse to show forward trading statements and they only give support until they make the sale? The reason is quite simple, they have optimized there systems for the past 6-12 months of market history. You...
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ISM: Better Growth Signal - Input Prices Pressure Profits
01.07.2008 14:17
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Bounce-back in manufacturing in June suggests that modest growth remains the baseline story. Production improved while orders were steady. Employment remains sub-par. Input prices; however, remain very high and will put downward pressure on profits. In contrast, export orders remain solid for machinery companies among others.
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Construction Spending: Slips Further in May
01.07.2008 14:17
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Total construction spending fell 0.4% in May, which was less than the expected 0.6% decline. Spending for previous months were revised with March showing the largest revision from -0.6% to 1.4%. Residential spending fell 1.6% and non-residential rose 0.3%. Non-residential construction spending should help boost Q2 GDP.
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Eco Data 7/2/08
01.07.2008 14:16
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