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Chart of the Day - EUR/USD

info@fxsol.com (FX Solutions) — Mon, 01 Dec 2008 19:03:01 GMT

(Chart courtesy of FX Solutions' FX AccuCharts. Price on 1st pane, Slow Stochastics on 2nd pane; uptrend lines in green; downtrend lines in red; horizontal support/resistance levels in yellow; 50-period simple moving average in light blue.) 12/01/2008 – EUR/USD – Price action on the EUR/USD daily chart, as shown, has retraced almost its entire bullish breakout run of early last week. This may be viewed as simply a continuation of the price consolidation that has prevailed in this pair for the

Daily Forex Signal

jordan@jclcapital.com (JCL Capital) — Mon, 01 Dec 2008 16:59:13 GMT

Hello all, Spec took profit again on the 1% leaving us out 1% again for today. The 1st order on the drop in also took profit (+250 pips) and the 2nd order is currently +768 pips (move stop to break even now).

Today's Live Show

trader@allthingsforex.com (AllThingsForex) — Mon, 01 Dec 2008 16:45:33 GMT

Forex traders, join the daily All Things Forex broadcast- a live one hour program covering Forex and major economic events, trend developments, research, analysis, ideas, education, live traders forum, interviews with some of the most respected names in the trading world, and much more.. In the broadcast today: Will negative jobs report accelerate USD strength? We analyze this week's economic reports and recent trend developments, we discuss a new forecast from UBS, and prepare for the trading

Currency Currents

jcrooks@blackswantrading.com (Black Swan Capital) — Mon, 01 Dec 2008 16:40:58 GMT

Key News Chinese Manufacturing Contracts by Record, Adds to Risk of Economic Slump (Bloomberg) Switzerland Feels Iceland's Pain With Banks Teetering on Vanishing Credit (Bloomberg) Manufacturing Contracts From China to Britain as Crisis Enters 17th Month (Bloomberg) Quotable “To compel a man to subsidize with his taxes the propagation of ideas which he disbelieves and abhors is sinful and tyrannical.” Thomas Jefferson FX Trading – China, China, China ... A Nightmare in the Making? Our

Daily Scalping Tip

mihai.marinescu@pipsandtips.com (PipsandTips.com) — Mon, 01 Dec 2008 16:39:00 GMT

BUY EURUSD @1. 2645 , SL @1.2630, TP @1.2655 Signal Time: December 1, 2008 16:32 GMT STATUS: ON

U.S Market Update

jessica@tradethenews.com (TradeTheNews.com) — Mon, 01 Dec 2008 16:34:30 GMT

- The Thanksgiving stock rally is screeching to a halt this morning as US equity indices open down and head lower. Risk aversion has returned to prominence pushing Treasury yields to yet new historic lows in some cases. The euro and cable continue to suffer while the yen is being bid up. The US ISM Manufacturing data is weighing on trade, hitting fresh 26-year lows, with the prices paid component hitting lows last seen in 1949. Front-month crude and metals are weaker, with oil below $50 as

Daily Scalping Tip

mihai.marinescu@pipsandtips.com (PipsandTips.com) — Mon, 01 Dec 2008 16:32:27 GMT

BUY EURUSD @1. 3038 , SL @1.3023, TP @1.3048 Signal Time: November 26, 2008 14:08 GMT STATUS: WON

Interest Rate Cuts With No Support

support@forexsurvivor.com (ForexSurvivor) — Mon, 01 Dec 2008 16:19:17 GMT

1 minute with ForexSurvivor A. (01 December US) Latest Impact: December’s Phase: Interest Rate Cuts With No Support So far, the market erased all previous week gains starting from Gold, Yen Crosses, Sterling and its crosses, and Crude Oil, while equities are tumbling to revisit the prices that were misplaced during Thanksgiving Day. There are lots of noises this week, and the volatility that the market is

Technical Summary for Majors

customerservices@windsorbrokersltd.com (Windsor Brokers Ltd) — Mon, 01 Dec 2008 16:18:14 GMT

EURUSD Reversal off 1.3080, 25 Nov top, reached 1.2582, one week low, retracing approximately 76.4% of the latest 1.2422/1.3080 upleg. Hourly studies keep the downside in focus, with 1.2563/1.2490, 24/21 Nov lows seen next, ahead of 1.2452/22, trendline support and downside boundary of the multi-week bear triangle/21 Nov higher base. Upside, 1.2700/30 seen capping for now. Res: 1.2642, 1.2700, 1.2730, 1.2775 Sup: 1.2582, 1.2565, 1.2512, 1.2452 GBPUSD Recovery attempt off 1.4556, 13 Nov

Euro Traders Prepare for Interest Rate Cut

info@forexhound.com (ForexHound.com) — Mon, 01 Dec 2008 16:02:31 GMT

The European Central Bank meets on December 4 to discuss its next move regarding interest rates. Traders are anticipating a cut, but recent comments by ECB officials are making it difficult to decipher how aggressive the cut will be. Last week ECB President Trichet hinted that growth will be substantially lower in 2009. This comment gave traders an indication that rates would indeed be cut, but offered no clues as to how much. A short time later ECB council member Nowotny warned that the ECB

Mid-Day Forex Technical Report - Yen Continues to Dominate as Stock Plunges on Recession Fear

contact@actionforex.com (ActionForex.com) — Mon, 01 Dec 2008 15:50:01 GMT

Action Insight Mid-Day Report Yen Continues to Dominate as Stock Plunges on Recession Fear The Japanese yen remains firm in early US session, follow release of poor manufacturing data from around the world. ISM manufacturing index in US dropped more than expected to 36.2 in Nov, suggesting the manufacturing industry is contracting in the fastest pace since 1982. Price paid component continued it's steep slide to from 37.0 to 25.5. Employment component remains deep in contraction region and

OPEC Holiday Wish

info@alaron.com (Alaron) — Mon, 01 Dec 2008 15:35:15 GMT

OPEC has holiday wishes as well and it appears they are wishing for higher energy prices this winter. But sometimes wishes can’t come true. That's about all that came out of the emergency OPEC meeting; futile hopes and dreams. Not to mention a little tension growing from those countries that might be overproducing their quota, oh my. Not a very happy holiday season for members of our own little energy cartel. As prices keep falling, tensions keep rising as Gulf State producers were demanding

The latest audio outlook

sam.bullard@wachovia.com (Wachovia) — Mon, 01 Dec 2008 15:00:07 GMT

This week, Wachovia's Chief Economist Mark Vitner discusses the latest economic news. Click on the image to listen it: To listen the last audios, please go to Wachovia Audio's page. .

Fear and Excuses Can Create Disaster

admin@tradingpostfinancial.com (www.TradingPostFinancial.com) — Mon, 01 Dec 2008 14:56:46 GMT

When the market becomes volatile or a series of trades produce loses, it is easy for us to become fearful. We then start to verbalize excuses as to why we even executed those trades or why we use the trading strategy that we use or any of a long list of items. Listen to the author's thoughts We Need To Do What We Have Never Done Before By seeing the areas that we have strengths and keeping them on a path of growth along with honestly working on those areas that need strengthening, each of us

The Yen Without Qualities

info@fxsol.com (FX Solutions) — Mon, 01 Dec 2008 14:40:36 GMT

In December 1989 the Nikkei Index for the Tokyo Stock Exchange closed at 38,915.87. Nineteen years later it is at 8,512.27. The current Bank of Japan overnight call rate is 0.3%, the lowest central bank rate in the industrialized world. This benchmark Japanese interest rate has been at 0.5% or lower since 1996, including more than five years of zero rate policy while the Bank of Japan was fighting incipient deflation. Two straight quarters of negative growth this year have put Japan into an

1/12/2008 - the current market sentiment

mail@fx-recommends.com (FX Recommends) — Mon, 01 Dec 2008 14:34:32 GMT

As what has been mentioned in the recent analysis, "God willing, The gold will face serious pressure at these levels right now and in the coming few days by the thanks giving holidays which can calm down the market volumes". The gold has slipped under 800$ per barrel on a greenback buying wave across the broad as a safe haven as a new wave of selling in the equity market amid weak manfacturing figures in EU and UK. The Manufacturing Purchasing Managers Index of November has come

Currency Majors Technical Analysis

forex@mataf.net (Mataf.net) — Mon, 01 Dec 2008 14:31:06 GMT

American Session EUR/USD - Euro Dollar 1,2610. EUR USD is in a consolidation after the last bearish movement. The volatility decreases. Bollinger bands are parallel and form the trend. ForexTrend 1H, daily (Mataf Trend Indicator) is in a bearish configuration. The downtrend should continue on 1,2440 support (170 pips). => We could take a short position at 1,2620. We will put the stop loss above 1,2710 (-90 pips). The targets are 1,2450 (+170 pips, risk/reward 1:1.9), 1,2400 (+220 pips,

The British pound depreciated by 2% against the US dollar after the release of dismal UK manufacturing

sam.bullard@wachovia.com (Wachovia) — Mon, 01 Dec 2008 13:32:57 GMT

Overnight, the British pound depreciated by 2% against the US dollar after the release of dismal UK manufacturing and mortgage lending data, which increased the expectation that the BOE will ease rates this coming Thursday. The Australian dollar and New Zealand dollar both fell as a result of declining local equities in addition to the high likelihood that both central banks will aggressively ease interest rates at central bank meetings later this week. The Chinese yuan fell by the largest

London Gold Market Report

info@bullionvault.com (BullionVault.com) — Mon, 01 Dec 2008 13:22:27 GMT

Gold Slides from 8-Week High on Fresh Dollar Surge; "Cascading Crises" Loom as World Governments Prepare $2.5 Trillion in Debt WHOLESALE GOLD PRICES fell sharply in Asia and London on Monday, dropping 3.2% from Friday's best weekly close in eight and falling below $791 an ounce. The six-day rally in global stock markets also stalled on a fresh surge in the US Dollar and Japanese Yen. Government bond prices jumped on expectations of sharp cuts to Sterling and Euro interest rates later this

Russia: Manufacturing PMI plunges to record low

danskeresearch@danskebank.com (Danske Bank A/S) — Mon, 01 Dec 2008 13:20:31 GMT

This morning data showed that Russian manufacturing PMI in November dropped to an all-time low in its 11-year history - see following charts. Hence the index's headline reading fell to 39.8 from 46.4 in October. The sub-indices show a broad-based contraction. New orders are falling fast, output is down and employment down, while stocks of finished goods are rising. The only good news was that the survey indicated that inflationary pressures are abating somewhat with output prices dropping for

London Session

info@forex.com (FOREX.com) — Mon, 01 Dec 2008 13:20:07 GMT

The buck was bid in London trading as the flight to safe assets continued. Global stock markets headed lower with Asia slipping about -2% while European bourses were down closer to -3% thus far. EUR and GBP were sold off as traders looked to the safe haven USD. EUR/USD slipped more than -45 pips and was sitting near 1.2650 just ahead of the NY session open. GBP/USD meanwhile shed a much more aggressive -275 points to 1.5000/10 as economic concerns continued to weigh on the currency. Bonds

Government borrowing to rise sharply

Sarah.Pedder@LLOYDSTSB.co.uk (Lloyds TSB Financial Markets) — Mon, 01 Dec 2008 12:59:49 GMT

Borrowing to rise sharply with a stimulus package of £20bn… The Chancellor confirmed in the 2008 Pre-Budget Report (PBR) that the budget deficit is to rise to £118bn next year, or 8% of gdp, a ratio not seen since 1993, and with the sharpest rise in the ratio seen since the 1970s. But the global financial crisis means that the government has little choice but to take debt onto the public sector balance sheet, otherwise the economic slowdown will be even worse and the financial sector could be

FX Options trade alert

sales@tradingcentral.com (Trading Central) — Mon, 01 Dec 2008 12:14:41 GMT

Last week was the opposite of the previous one as the U.S. Dollar lost ground at the beginning of the week and regained strength during the last days. On a technical point of view, the USD/EUR is on the upside and is approaching its next resistance level, the USD/CHF, which is much correlated to the Euro, remains within a MT bullish channel. The USD/GBP is turning down as the RSI is on the downside. The USD/JPY is under pressure and remains capped by a declining trend line. The USD/CAD has

Expectations for Rate Cuts Support The Yen

support@finotec.com (Finotec Group Inc.) — Mon, 01 Dec 2008 12:09:40 GMT

The Japanese Yen open the week with a strong momentum on expectations of global interest rate cuts. The BOE, ECB, RBA, RBNZ are expected to lower their overnight rates from 0.5% to 1.5%. The sharp drop in inflationary pressures is allowing central bankers to focus on growth. The lowering of the interest rate is eroding the appeal of the carry trade and supporting the strengthening of the Yen. The red colure on Asia Europe and US futures boards is giving further support to the movement of the

China: Plunge in PMIs indicates sharp deceleration

danskeresearch@danskebank.com (Danske Bank A/S) — Mon, 01 Dec 2008 11:55:39 GMT

Both of China's manufacturing PMIs plunged again in November, indicating that industrial activity is currently slowing sharply in China. This is in line with other recent Asian indicators including Friday's industrial production figures from Japan and overnight export figures from South Korea, all of which indicate that the pace of deterioration in industrial activity is likely be extraordinary on a global scale in Q4 08. Details: The development in the Manufacturing PMI from the National

NBH lowers its base rate from 11.50 % to 11.0 %

piet.lammens@kbc.be (KBC Bank) — Mon, 01 Dec 2008 11:52:17 GMT

Czech Republic The fixed-income market sees only gradual improvement Hungary NBH lowers its base rate from 11.50 % to 11.0 % Poland NBP cuts by 25 bps, while the policy statement was outright dovish Slovakia S&P ups Slovakia’s rating The week ahead Hungary’s foreign trade balance is to only important data on the agenda Overview NBH and NBP surprise with an earlier than expected cuts The National Bank of Hungary and its Polish counterpart undoubtedly surprised us and partly also the markets

The JPY gained against a basket of major currencies

info@varengold.de (Varengold Wertpapierhandelsbank AG) — Mon, 01 Dec 2008 11:51:41 GMT

Good morning from wonderful Hamburg. The fight against the global economic recession will determine this trading week. Investors expect that many central banks will take interest rate measures. However we hope for successful trades and wish you a nice start in this week. Market review The JPY gained against a basket of major currencies on expectations of an interest rate cut by central banks in major economic zones this week. This step seems to be necessary to fight against the economic

Weekly Technical Commentary

Nicole.Elliot@mhcb.co.uk (Mizuho Corporate Bank) — Mon, 01 Dec 2008 11:44:19 GMT

USD/JPY Chart Levels: Support 93.93..93.53..92.48..91.88. Resistance 96.00..97.44..98.70..99.50 Testing the lower edge of the ‘triangle’ though above November’s low at 93.53. Hopefully we will get a successful break this week and we continue to feel there is another downside move due by the end of this year as the ‘carry trade’ unwinds further and the credit crunch affects more areas of business. As for rallies, these will now hopefully be capped by the large Ichimoku ‘cloud’. These are seen

December 2008 Calendar − Update

research@sucden.co.uk (Sucden (UK) Limited) — Mon, 01 Dec 2008 11:42:45 GMT

December 2008 Calendar

Smelling Like More Upside To Come...

info@advicetrade.com (SwingTradeOnline.com) — Mon, 01 Dec 2008 11:38:19 GMT

I'll keep things brief tonight as the holiday shortened week didn't do much to change my outlook from Wednesday. What appears to be setting up is the exact opposite of what was happening in the down trend for several months. The 60's would flash amazingly strong positive divergences along with very oversold conditions and the market could barely rally. The 60's are now very overbought with some strong negative divergences out there but it's not mattering. The market is working through the

Daily FX Commentary

tim.clayton@investica.co.uk (Investica Ltd) — Mon, 01 Dec 2008 11:34:31 GMT

Sterling under renewed pressure Sterling found support near 0.84 against the Euro on Friday and took advantage of general Euro weakness with gains to near 0.8250 in US trading. The UK currency was unable to make a fresh challenge on the 1.55 resistance level against the dollar. The latest UK CBI distributive survey recorded a renewed deterioration with a reading of -46 for November from -27 the previous month while retailers were generally pessimistic over near-term prospects. The evidence

Increasing Pressure on ECB to Lower Rates Soon

info@swissetrade.com (Swiss e Trade AG) — Mon, 01 Dec 2008 11:23:55 GMT

The weekend`s close in Forex was focused on the euro, which tended weaker again in several pairs and crossings. The market suspects that euro interest rates will be much lower in the near future sooner than was expected, with the ECB explaining loudly why the bank now could lower interest rates because of defused inflation danger (tongue in cheek, actually the ECB should explain why they must lower the rates, under any circumstances, because the Europeans would risk another fainting spell in

Currency Technical Report

trading@fxgreece.gr (FXGreece) — Mon, 01 Dec 2008 11:17:49 GMT

EUR/USD Resistance: 1,2710-20/ 1,2750/ 1,2800-10/ 1,2860-70/ 1,2900/ 1,2960 Support : 1,2650/1,2570/ 1,2820/ 1,2480/ 1,2430/ 1,2390-00 Comment : The downward break of 1,2800, canceled all upward expectations and indicated that the wider consolidation is still valid. Our first targets were achieved and next targets are set now at 1,2560-80. If the decline continues, next support emerges at 1,2480-2510, while the base of the formation is found at 1,2400 area. Upward reactions should find

Why the Euro Is Set to Fall Further ...

eletter@moneyandmarkets.com (Money and Markets) — Mon, 01 Dec 2008 11:13:17 GMT

Is anyone less thankful this year than last year? It's probably safe to bet on YES. I don't have to run through it all — we've been bludgeoned by all that's bad in the global economy and financial system all year long. And I'm sure there are plenty of individuals out there who aren't quite in the mood to be thankful — turkey on the table or not. Last week I discussed the effect of tight coupling on financial markets. I said when the mechanics of some market or some asset of immense complexity

Down trend on long term looks certain for Euro

support@finotec.com (Finotec Group Inc.) — Mon, 01 Dec 2008 11:11:57 GMT

Fundamental Manufacturing in the U.S. probably contracted in November at the fastest pace in 26 years as consumers and companies worldwide cut spending, economists said before reports today. The Institute for Supply Management’s factory index dropped to 37 last month, the lowest level since 1982, from 38.9 in October, according to the median estimate in a Bloomberg News survey. A reading of 50 is the dividing line between expansion and contraction. The financial crisis has spiraled into a

PMI Manufacturing continue to post record low readings

jessica@tradethenews.com (TradeTheNews.com) — Mon, 01 Dec 2008 10:52:24 GMT

ECONOMIC DATA - (JP) BOJ to hold extraordinary policy meeting on Dec 2nd to discuss flexibility in funding - (IN) India Oct Exports Y/Y: -12.1% v 10.4% prior; Imports Y/Y: 10.6% v 43.3% prior - (GE) Oct Retail Sales M/M: -1.6% v 0.5%e; YoY: -1.5% v -0.3%e - (SW) Swedish Swedbank PMI: 33.1 v 38.0e - (SP) Spain Nov Manufacturing PMI: 29.4 v 34.6 prior; lowest reading on record - (HK) Oct Retail Sales Value Y/Y: 0.3% v 3.4%e; Volume Y/Y: -4.3% v -0.8%e - (SZ) Swiss Nov SVME Purchasing Managers

Bankrupt Britain Trending Towards Hyper-Inflation?

nadeem@marketoracle.co.uk (Marketoracle.co.uk) — Mon, 01 Dec 2008 10:47:24 GMT

The mainstream media is increasingly full of stories of either Britain going bankrupt or the coming deflation associated with the recession. Whilst both are now obvious given the economic data and government actions however what is missing from the headlines is that under the weight of the exploding public sector debt mountain, deflation will fast turn towards hyper-inflation as the government literally prints money in ever more panic measures aimed at turning the economy around. Many of the

Forex - Friday trading was thin in global risk aversion ahead of Central banks meetings

support@ac-markets.com (ACM - Advanced Currency Markets) — Mon, 01 Dec 2008 10:41:23 GMT

Forex News and Events: The Dollar rose versus the Euro in thin trade on Friday as volatile equity markets and fears of a deepening global recession led investors to seek the US currency as a haven. Extreme risk aversion and repatriation flows have been supporting the US currency recently. Selling pressure on the Euro also mounted, with the single currency also falling against the Yen and Sterling on growing expectations that slowing euro-zone inflation may lead policy makers to cut rates more

ISM indices (Nov): declining further

corp-comm@bhf-bank.com (BHF-Bank) — Mon, 01 Dec 2008 10:32:49 GMT

Factory orders (Oct): dropping significantly for the third consecutive month Labour market (Nov): downward trend in payrolls sharply accelerating The ISM manufacturing index fell by 4.6 points to 38.9 in October, its lowest level since the 1982 recession. The most striking feature of the report was the plunge in the export component from 52.0 to a mere 41.0, indicating that trade has ceased to be a strong support for the US economy due to global economic weakness. As the overall new orders

EURUSD: Formation Of A Shooting Star Candle To Trigger Further Downside EURUSD

m.isah@fxtechstrategy.com (FXTechstrategy) — Mon, 01 Dec 2008 10:25:22 GMT

In This Issue: EURUSD: Formation Of A Shooting Star Candle To Trigger Further Downside EURUSD -With the pair’s break out of a triangle and its rise off the 1.2423 level cut short after failing to push through its Nov 25’08 high at 1.3081,it has formed a shooting star candle pattern(top reversal signal) and increased the chances of further downside losses … GBPUSD: Continues To Maintain Its Return Above The 1.5250/65 Area - While the past week’s climb above the 1.5250/65 area, its Nov 19’08