Weekly review and outlook on the forex market available in ActionForex.com http://www.actionforex.com Sun, 21 Mar 2010 18:49:59 +0100 FeedCreator 1.7.2 http://www.actionforex.com/images/M_images/aflogo.jpg http://www.actionforex.com Weekly review and outlook on the forex market available in ActionForex.com http://www.actionforex.com/fundamental-analysis/weekly-forex-fundamentals/emu-economic-indicators-preview-20100321109312/ The ifo business climate for Germany could have rebounded in March: although business expectations are likely to have deteriorated, there will probably have been a weather-related improvement in the current assessment. The US ISM manufacturing index and the German ZEW economic sentiment have both fallen; crude oil prices have gone... Sun, 21 Mar 2010 13:37:13 +0100 http://www.actionforex.com/technical-analysis/weekly-forex-technicals/gbpusd%3a-pressured-to-the-downside-20100321109311/ Having closed lower following its failure at the 1.5380 level the past week, the pair is now eyeing the 1.4871 level, its Mar 10’10 low. We expect there or even its 2010 low at 1.4782 to hold on initial test. The later level preserves its current corrective to consolidation phase... Sun, 21 Mar 2010 13:32:42 +0100 http://www.actionforex.com/technical-analysis/weekly-forex-technicals/eurusd%3a-vulnerable-to-the-1.3433-level-20100321109310/ Having closed lower for the week after failing at the 1.3816 level and collapsing through its key supports to wipe out its previous week gains, risk of further declines towards its 2010 low sited at 1.3433 is now seen. That level preserves its consolidation to corrective bias but if it... Sun, 21 Mar 2010 13:31:24 +0100 http://www.actionforex.com/fundamental-analysis/weekly-forex-fundamentals/the-week-ahead-20100319109297/ FX markets continue to fluctuate broadly in recent ranges, turning with every twist in the ongoing Greek drama. Risk saw higher in the beginning of the past week as EU leaders appeared to be in agreement on a plan to provide an aid package to Greece. Then the German government... Fri, 19 Mar 2010 17:03:48 +0100 http://www.actionforex.com/fundamental-analysis/weekly-forex-fundamentals/market-weekly-wrap-20100319109296/ FX traders shifted focus away from European peripherals and toward the FOMC and BOJ central bank meetings early on this week. But the Greek tragedy refused to leave the stage, and the euro continued to suffer from more EU discord over how to help Greece get out of its debt... Fri, 19 Mar 2010 16:28:01 +0100 http://www.actionforex.com/fundamental-analysis/weekly-forex-fundamentals/fx-strategy-weekly-20100319109295/ Rumours of a hike in the US discount rate on Thursday proved unfounded but served as the starting shot of a rally in the dollar index, with monetary tightening in India on Friday triggering subsequent profit taking in commodity currencies. Accompanied by the increased aversion for EUR and GBP, the... Fri, 19 Mar 2010 16:05:40 +0100 http://www.actionforex.com/fundamental-analysis/weekly-forex-fundamentals/the-weekly-bottom-line-20100319109293/ The economic calendar was filled this week with a plethora of data on the state of the U.S. economy. The impact of inclement weather was evident in several areas including industrial production, which flattened in February after strong gains in the past several months and U.S. housing starts, which fell... Fri, 19 Mar 2010 14:52:36 +0100 http://www.actionforex.com/technical-analysis/weekly-forex-technicals/weekly-technical-update%3a-greenback-strength-re%11emerging-20100319109292/ Last week, it the USD crosses such as the EUR/USD and GBP/USD were showing signs of reversal after greenback dominance for end of 2009 and most of 2010 so far. However, by week's end, the greenback prevailed, and we may have to start thinking of USD-bullish outlooks in the coming... Fri, 19 Mar 2010 14:43:06 +0100 http://www.actionforex.com/fundamental-analysis/weekly-forex-fundamentals/weekly-economic-and-financial-commentary-20100319109290/ In our 2010 annual outlook we forecasted a growth rate of 2 percent plus for 2010 and overall consumer inflation of around 2 percent as well. This week's economic releases support that outlook. On the real economy side, three economic releases this week - industrial production, the Philadelphia Fed index... Fri, 19 Mar 2010 13:33:45 +0100 http://www.actionforex.com/fundamental-analysis/weekly-forex-fundamentals/weekly-focus%3a-market-rates-set-to-head-upwards-20100319109288/ Overall the improvement in risk sentiment appears to continue despite Greece continuing to dominate headlines. Standard & Poor's reaffirmation of Greece's BBB+ rating at least temporarily calmed nerves on Greece. However, with Greece now trying to force a some sort of solution in connection with the EU summit later in... Fri, 19 Mar 2010 12:46:10 +0100 http://www.actionforex.com/fundamental-analysis/weekly-forex-fundamentals/greece%3a-crucial-eu-summit-20100319109285/ At the end of last week, EUR-USD had surged to over 1.37, thus breaking out above the trading range of the past weeks. In the run-up to the FOMC meeting, the single currency actually managed to increase its gains to over 1.38 temporarily. As from Thursday, however, the euro came... Fri, 19 Mar 2010 11:05:19 +0100 http://www.actionforex.com/fundamental-analysis/weekly-forex-fundamentals/weekly-market-commentary-20100319109284/ ‘The Federal Reserve is uniquely suited to supervise large, complex financial organisations and to address both safety and soundness risks and risks to the stability of the financial system as a whole’, said Federal Reserve Chairman Bernanke in his testimony at the House Financial Services Committee on Wednesday. The question,... Fri, 19 Mar 2010 10:55:33 +0100 http://www.actionforex.com/technical-analysis/weekly-forex-technicals/imm-positioning-%11-long-cad-positions-building-20100316108893/ Speculative investors trimmed long USD positions in a week which saw the narrow dollar index dipping back below the 80 level. The EUR remained under pressure and speculative short positions were added after EUR/USD reached a new year low of 1.3436 on 2 March. Tue, 16 Mar 2010 01:06:43 +0100 http://www.actionforex.com/fundamental-analysis/weekly-forex-fundamentals/honest-corruption-20100315108874/ The Federal Reserve has paid a yearlong bribe to the housing market to keep mortgage rates almost a full point below average. The $1.25 trillion payoff also known as the Mortgage Backed Security purchase program is about to end. Will the mortgage market stay bought? Honest corruption is when a... Mon, 15 Mar 2010 12:24:52 +0100 http://www.actionforex.com/technical-analysis/weekly-forex-technicals/weekly-technical-commentary-20100315108863/ Not easy and not obvious as we remain trapped between 'channel' resistance and pivotal support at 88.00. Elements of the Ichimoku 'cloud' chart are mixed with moving averages hinting at a long position and the 'cloud' dropping and thickening to a very good size late May. Random moves will probably... Mon, 15 Mar 2010 10:06:32 +0100 http://www.actionforex.com/fundamental-analysis/weekly-forex-fundamentals/us-economic-indicators-preview-20100315108833/ The FOMC is very likely to maintain the target range for the fed funds rate at 0 to 0.25% at this week's meeting. It will be interesting to see what changes are made to the statement, especially to the phrase “exceptionally low levels of the fed funds rate are warranted... Mon, 15 Mar 2010 06:14:13 +0100 http://www.actionforex.com/technical-analysis/weekly-forex-technicals/weekly-forex-signals%3a-eur%10usd-20100315108816/ Technical analysis shows us the Euro may continue its uptrend but we may have a correction first. Indicators are in a bullish direction like MACD, which crosses the signal line upwards. RSI is in an uptrend. Bollinger gives us a bullish signal by closing the candle above the higher band. Mon, 15 Mar 2010 04:03:38 +0100 http://www.actionforex.com/technical-analysis/weekly-forex-technicals/eurusd%3a-triggers-corrective-recovery,-eyes-the-1.3787%101.3838-levels-20100314108776/ EUR having decisively broken and held above its Mar 03’10 high at 1.3735 has cleared the way for a move higher towards the 1.3787 level, its Feb 17’10 high. A clean penetration and negation of that level will leave the pair targeting its bigger resistance located at the 1.3838 level,... Sun, 14 Mar 2010 10:16:59 +0100 http://www.actionforex.com/technical-analysis/weekly-forex-technicals/gbpusd%3a-corrective-recovery-remains-on-course-20100314108775/ : With our corrective recovery views panning out and pushing the pair from its intra day low at 1.4871(Mar 10’10) to close marginally higher last week, risk of further upside gains is likely. On the back of its current strength, we had earlier noted hammer candle formations (bottom reversal signal)... Sun, 14 Mar 2010 10:15:13 +0100 http://www.actionforex.com/fundamental-analysis/weekly-forex-fundamentals/emu-economic-indicators-preview-20100313108759/ The German ZEW economic sentiment could have continued deteriorating in March, as the correlated indicators sent rather negative signals. The ifo business expectations have improved, but the US ISM manufacturing index has declined. The euro has depreciated, but crude oil prices have gone up. German yield spreads have fluctuated, just... Sat, 13 Mar 2010 00:34:32 +0100