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  1. Forex in 4! - 5 trading set ups - July 29, 2010

    by , 07-29-2010 at 11:43 AM
    Abe Cofnas has been analyzing the Forex market for years. Here is his outlook for today’s action in the Forex market.

    USDCHF - This pair is in a retracement from a low of 1.0396 to a high of 1.0641. It is probing a 50% retracement level. A break of 1.0518 is a key support point. A break of 1.049 would be a major sell signal.

    USDCAD - The Loonie is in a strengthening pattern with Resistance at 1.04 and Support at 1.025. The outlook is a resumption of the strengthening of this pair. Going countertrend poses more risks. If Resistance or Support is broken, traders need to reassess the direction, but need ...

    Updated 07-29-2010 at 11:45 AM by FXEDU

    Tags: aud, chf, gbp, jpy, usd
  2. News in 60 Seconds: The Baltic Dry Index falls for a 34th day in a row!

    by , 07-14-2010 at 10:09 AM (News in 60 Seconds)
    Biggest % gainers: USD/ZAR up 0.77%, GBP/AUD, GBP/CHF, USD/CAD, GBP/USD on GBP strength and commodity currency weakness.

    Biggest % losers: CAD/JPY down 0.86%, AUD/JPY, NZD/JPY, EUR/JPY, CHF/JPY on JPY strength and commodity currency weakness.

    Gold $1,207
    Oil $76.72

    NZD Retail Sales m/m came out worse than expected last night, weighing on the commodity currencies this morning.

    French Bank Holiday observance of National Day.

    GBP Claimant Count change better at -20.8K vs. -20.1K expected and -31.1K last time.

    EUR CPI y/y in line at 1.4% as expected and same as last time.

    USD Core Retail Sales m/m in line at -0.1%. Last ...
  3. News in 60 Seconds: Moody's cuts Portugal's Credit Rating!

    by , 07-13-2010 at 09:59 AM (News in 60 Seconds)
    Biggest % gainers: GBP/USD up 0.73%, GBP/AUD, GBP/JPY on GBP strength.

    Biggest % losers: USD/ZAR down0.71%, USD/CAD, EUR/GBP, EUR/CAD on GBP strength and some CAD strength. The South African rand is strong too, so the commodity currencies are strong at the moment.

    Moody's cuts Portugal's Credit Rating.

    Gold $1,216 perking back up.
    Oil $76.56

    GBP CPI y/y inline at 3.2% but lower than 3.4% last time.

    EUR German ZEW Economic Sentiment worse at 10.7 vs. 16.8 expected and 18.8 last time.

    CAD Trade Balance worse at -0.5B vs. 0.0B expected and -0.3B ...
  4. News in 60 Seconds: Central banks selling gold to raise cash! Global Trade collapsing

    by , 07-07-2010 at 09:52 AM (News in 60 Seconds)
    mild day today so far...

    Biggest % gainers: USD/TRY up 0.30%, USD/SGD, NZD/USD, GBP/AUD, no distinct trends here.

    Biggest % losers: EUR/JPY down 0.58%, EUR/CHF, EUR/NZD on mild EUR weakness.

    Gold $1,192
    Oil $72.67

    Central banks are selling gold to the BIS (Bank of International Settlements) in droves right now! These countries need to raise cash and so selling some of their gold that has appreciated nicely is a way to do that. How much gold have they sold? They've sold 349 metric tons of gold since December which raised $14 billion for these central banks.

    The Baltic Dry Index has cut in half in the last 30-40 days showing that global trade is collapsing once ...
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