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- Your Source for Daily FOREX Market News and Analysis
USD/CHF : The market could be in the process of carving out a material base after closing back above the 10-Day SMA on Tuesday. Any setbacks have been very well supported in the 1.0400 area and this should be encouraging for bulls.
learn forex trading 29 Jul 2010 - Intraday Trading 07.28
Overnight the next 24 hours, market participants will closely monitor the NZDUSD as the pair maintains its narrow range ahead of the RBNZ rate decision. A rate increase by the central bank in conjuncture with hawkish comments may lead price action to test 0.735, with a break above exposing 0.742.
learn forex trading 29 Jul 2010 - Your Source for Daily FOREX Market News and Analysis
USD/CAD: The 100-Day SMA has proven to be a formidable support for the pair, with the market failing on multiple attempts over the past several days to close below the longer-term SMA. Look for a medium-term higher low to now be in place by 1.0255, ahead of the next major upside extension beyond 1.0850 over the coming days.
learn forex trading 29 Jul 2010 - How do we Use Money Management for Moving Average Forex Strategies?
The recent influx of new speculators in the forex trading market has been met with a similarly pronounced outflow of existing traders. Extremely volatile market conditions have clearly been detrimental to many participants, and much of this effect relates to popular trading strategies in the market today.
learn forex trading 29 Jul 2010 - Your Source for Daily FOREX Market News and Analysis
NZD/USD: Gains have once again stalled out above 0.7300 and Tuesdays bearish doji close has shown good follow through on Wednesday with the market pulling back quite sharply.
learn forex trading 29 Jul 2010 - GBP/USD: Trading the Change in U.K. Mortgage Approvals
As bank lending in the U.K. is expected to weaken in June, the data is likely to reinforce a weakened outlook for future growth, which could spur a reversal in the British Pound as investors weigh the prospects for a sustainable recovery.
learn forex trading 29 Jul 2010 - Your Source for Daily FOREX Market News and Analysis
GBP/USD : Gains have been quite impressive over the past few sessions with the market taking out key resistance by the 200-Day SMA and closing above the longer-term SMA. This is the first time the market is above the 200-Day since January and could potentially warn of a major shift in the structure.
learn forex trading 29 Jul 2010 - Your Source for Daily FOREX Market News and Analysis
EUR/USD : The push to some fresh multi-day highs on Tuesday by 1.3045 was not impressive, with the market reversing and closing back by opening levels to set up a doji formation, that has now been followed up by yet another doji formation on Wednesday.
learn forex trading 29 Jul 2010 - Your Source for Daily FOREX Market News and Analysis
USD/JPY: The latest round of setbacks below 87.00 have been very well supported and daily studies have now turned up from oversold levels with the market looking like it wants to carve out a base.
learn forex trading 29 Jul 2010 - Your Source for Daily FOREX Market News and Analysis
Wednesdays trading session was rather disappointing with the major currencies mostly confined to some consolidation.
learn forex trading 29 Jul 2010
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