International Business News - Forexperts http://www.ibtimes.com/rss/feed/forexperts.rss All articles are copyrighted by IBTimes.com 120 30 http://www.ibtimes.com/rss/feed/forexperts.rss http://www.ibtimes.com/images/top_logo_ibt2_3.gif GBP DROPS AS KING SPEAKS seems to be the recurring headline each time the head of the Bank of England testifies. GBP drops below $1.65 as BoEs King testifies to Parliament, but this time sterling losses are part of overall risk aversion. http://www.ibtimes.com/articles/20091124/bank-england-british-pound-canadian-dollar-dow-jones-gbpusd-gdp-risk-aversionp500s-dollar-usdcad.htm http://www.ibtimes.com/articles/20091124/bank-england-british-pound-canadian-dollar-dow-jones-gbpusd-gdp-risk-aversionp500s-dollar-usdcad.htm Tue, 24 Nov 2009 05:56:04 EST The daily range is contracting and will therefore generate a sharp break out before long. I feel there is a cycle low due this week and expect the break to be higher... http://www.ibtimes.com/articles/20091123/usd-jpy-forecast.htm http://www.ibtimes.com/articles/20091123/usd-jpy-forecast.htm Mon, 23 Nov 2009 22:42:26 EST The 10% increase in Oct existing home sales was nearly 10 times greater than expected but currencies fail to show any significant shift towards risk plays, as EURUSD remains shy of $1.50, $GBPUSD under at 1.67 and USDCAD above 1.05. The REAL TEST will be tomorrows preliminary (second revision) of US Q3 GDP, expected to be revised to 2.8% from 3.5% (range 2.5%-3.4%). http://www.ibtimes.com/articles/20091123/intraday-market-thoughts.htm http://www.ibtimes.com/articles/20091123/intraday-market-thoughts.htm Mon, 23 Nov 2009 18:45:33 EST The greenback continued its retreat overnight as global equity markets followed on from the strong performance in the local session, supported by a surge in key commodities. European markets kicked off without hesitation running with the positive lead given in the local session, adding further pressure to the ailing greenback. http://www.ibtimes.com/articles/20091123/aussie-rise.htm http://www.ibtimes.com/articles/20091123/aussie-rise.htm Mon, 23 Nov 2009 18:05:30 EST 4H and 1H: We noted the possible rally to start the week because the EUR/USD was at support to end last week. (Refer to Weekly Technical Update 11.20.2009). We start this week with a sharp rally in the Asian and European session to the channel resistance at 1.5000. http://www.ibtimes.com/articles/20091123/eur-usd-assessing-range-setup.htm http://www.ibtimes.com/articles/20091123/eur-usd-assessing-range-setup.htm Mon, 23 Nov 2009 15:00:58 EST Price action on spot silver, a daily chart of which is shown, has reached the very top of a key parallel uptrend channel, in the process hitting a new long-term high (just short of $19). This high at the top of the parallel uptrend channel also coincides with a 161.8% Fibonacci extension of the bullish run from $16.06 to $17.73 early this month. http://www.ibtimes.com/articles/20091123/silver.htm http://www.ibtimes.com/articles/20091123/silver.htm Mon, 23 Nov 2009 11:23:19 EST John Ross wrote in a recent Currency Currents he didn't want to rip-off the Milk Board advertising campaign by asking if you've "Got Gold." But it appears more and more have "Got Gold." Yet another new high was chalked up this morning in white-hot yellow metal. This comes at a very bad time for me and may reflect a lot deeper systemic concerns than we now realize. http://www.ibtimes.com/articles/20091123/fx-trading-regulatory-bank-curemassive-unintended-fear-move-gold.htm http://www.ibtimes.com/articles/20091123/fx-trading-regulatory-bank-curemassive-unintended-fear-move-gold.htm Mon, 23 Nov 2009 09:53:07 EST Over the last week, Gold again hit new record prices - hitting our long-term weekly target at 1133.24. There is speculation that since India recently bought 200 metric tons from the IMF and increased its holdings to 6% that China will follow. China is the largest producer and consumer of gold in the world. http://www.ibtimes.com/articles/20091123/hold-gold.htm http://www.ibtimes.com/articles/20091123/hold-gold.htm Mon, 23 Nov 2009 09:18:13 EST The pair followed through lower on its nearer term declines off the 1.6875 level on Friday decisively violating its short term trendline and taking out the 1.6514 level. This development continues to put GBPUSD under pressure with risk seen towards the 1.6260 level especially now that a bearish engulfing candle pattern(top reversal signal) was printed the past week supported by a negative RSI. This leaves a challenge on its recovery from the 1.5706-1.6875 levels targeting the 1.6260 level, its N... http://www.ibtimes.com/articles/20091123/gbp-usd-weekly-technical-strategy.htm http://www.ibtimes.com/articles/20091123/gbp-usd-weekly-technical-strategy.htm Mon, 23 Nov 2009 08:58:42 EST Another Monday Rally in Equities at the Expense of USD & JPY http://www.ibtimes.com/articles/20091123/british-pound-canadian-dollar-dow-jones-futures-gbpusd-japan-oil-retail-sales-stockss-dollar-usdcad-.htm http://www.ibtimes.com/articles/20091123/british-pound-canadian-dollar-dow-jones-futures-gbpusd-japan-oil-retail-sales-stockss-dollar-usdcad-.htm Mon, 23 Nov 2009 08:55:26 EST St. Louis Fed President, James Bullard said in a speech over the weekend that the Fed should retain the flexibility to respond through continued purchases of mortgage securities in 2010 should it see the need. In conjunction with the views of Chicago's Evans who sees perhaps no change in rates into as far as 2011, investors are today reveling in abundant liquidity and downplaying the prospects for the U.S. dollar. As they do so they are reversing last week's theme of global slowdown. Equity futu... http://www.ibtimes.com/articles/20091123/fed-comments-revive-risk-appetite.htm http://www.ibtimes.com/articles/20091123/fed-comments-revive-risk-appetite.htm Mon, 23 Nov 2009 08:45:25 EST EURUSD- Rising from its past week losses, EUR was seen rallying strongly today reversing all most of its last week losses and clearing the way for further upside towards the 1.5014 level, its Nov 16'09 high. This current rally is consistent with our medium term bullish structure view referenced in our weekly analysis. http://www.ibtimes.com/articles/20091123/eurusd-daily-technical-strategy-11-23.htm http://www.ibtimes.com/articles/20091123/eurusd-daily-technical-strategy-11-23.htm Mon, 23 Nov 2009 07:58:32 EST The downside risk appears to be growing and thus watch key resistance levels to identify reversal patterns - probably around 81.95-82.23 http://www.ibtimes.com/articles/20091122/aud-jpy-forecasts.htm http://www.ibtimes.com/articles/20091122/aud-jpy-forecasts.htm Sun, 22 Nov 2009 23:17:19 EST Despite an overall positive result in US equity markets last week, the general nervous disposition seen throughout the week translated to losses on Friday with the Dow and key commodities finishing in the red, resulting in another bout of risk aversion which pushed the greenback back up against major counterparts. http://www.ibtimes.com/articles/20091122/aussie-continues-retreat.htm http://www.ibtimes.com/articles/20091122/aussie-continues-retreat.htm Sun, 22 Nov 2009 18:35:53 EST EURUSDShowing an inability to have a weekly close above the 1.5000 barrier, the pair has had now 4 rejections on a weekly basis here.  We feel this week or next is the decider for the next leg on this pair.  A close above 1.5000 increases prospects for a year end push while a close below the weekl... http://www.ibtimes.com/articles/20091122/the-ichimoku-report-nov-22nd.htm http://www.ibtimes.com/articles/20091122/the-ichimoku-report-nov-22nd.htm Sun, 22 Nov 2009 09:24:58 EST The pair followed through lower on its nearer term declines off the 1.6875 level on Friday decisively violating its short term trendlineand taking out the 1.6514 level. This development continues to put GBPUSD under pressure with risk seen towards the 1.6260 level especially now that a bearish engulfing candle pattern(top reversal signal) was printed the past week supported by a negative RSI. http://www.ibtimes.com/articles/20091122/gbp-usd-weekly-technical-strategy.htm http://www.ibtimes.com/articles/20091122/gbp-usd-weekly-technical-strategy.htm Sun, 22 Nov 2009 09:12:57 EST Although a rejection candle was printed at the end of the week after the pair failed at the 1.5047 level, as long as EUR holds above the 1.4844 level and maintains above its LT rising trendline, risk remains higher for a retarget of its YTD high at 1.5062. http://www.ibtimes.com/articles/20091122/eur-usd-weekly-technical-strategy.htm http://www.ibtimes.com/articles/20091122/eur-usd-weekly-technical-strategy.htm Sun, 22 Nov 2009 09:10:45 EST After reaching a 15-month low early in the week, the U.S. Dollar closed higher for the week against a trade-weighted basket of currencies. Technically, this closing price reversal, once confirmed, often leads to a 2 to 3-week retracement. The daily chart suggests that a move through 77.50 is necessary to turn the main trend to up. http://www.ibtimes.com/articles/20091120/china-yuan-bernanke-trichet-dollar.htm http://www.ibtimes.com/articles/20091120/china-yuan-bernanke-trichet-dollar.htm Fri, 20 Nov 2009 18:29:31 EST The moves this week should convince anyone that had any doubt, that the correlation between equity markets and currencies remains alive and well. It was a rollercoaster, with EUR/USD oscillating between 1.4800 support and 1.5000 resistance for the better part of the week. The S&P 500 meanwhile continued to find interest on either side of the pivotal 1100 level. It seems that EUR/USD 1.50 and the S&P 1100 go hand in hand as both remain extre... http://www.ibtimes.com/articles/20091120/week-ahead-updated-november-20.htm http://www.ibtimes.com/articles/20091120/week-ahead-updated-november-20.htm Fri, 20 Nov 2009 15:39:45 EST All the top banks were asked to provide their guess on just how undervalued the Chinese currency-yuan- was against the US dollar. The average guesstimate was about 20%. That's about 20% lower than my guess would have been, but no matter. What was interesting was their guess about when the Chinese currency would actually become convertible. http://www.ibtimes.com/articles/20091120/bank-japan-chinayuan-south-koreawon-and-singapore-dollar.htm http://www.ibtimes.com/articles/20091120/bank-japan-chinayuan-south-koreawon-and-singapore-dollar.htm Fri, 20 Nov 2009 09:28:48 EST