Alan’s Forex Blog

EURO The euro depreciated vis-à-vis the U.S. dollar today as the single currency tested bids around the US$1.4675 level and was capped around the $1.4785 level.  Stops were hit below the $1.4690 level, representing the 61.8% retracement of the move from $1.4520 to $1.4965.  Federal Reserve Chairman Bernanke spoke yesterday and made it very clear that the Federal Open Market Committee may reduce interest rates further on 11 December by being “exceptionally alert and flexible.”

Forex Department EURUSD:   ‘Diet’ Trend Correction             The vengeance turning point in dollar at the beginning of the week suggests next week behaviour would be titled as a ‘trend correction’ that may last ahead or till ECB decision.   The force behind correction is still groping in the dark, and it is necessarily constrained from entering into long term bearish price action until eurusd @ 15012 is solved. It is

1 minute with ForexSurvivor (30 Nov US)        30pips Free EURSD trade to start Dec with EURUSD Free Trade of 30 pips 30 Nov Spot Trade                                                  

After some of the greatest, most profitable weeks of my life as a trader – as they had been minutely described here on FXstreet.com – with only one notable exception my market exposure finally has come to almost zero. Nonetheless, I will be charting the following days with a great deal of interest – with particular respect to the US Dollar.

This week’s reports of third quarter economic growth in the U.S. and Canada painted a rosy picture. U.S. real GDP…

With the economy’s normally explosive offense beginning to sputter, the Fed will need to rely on its defense to keep…

Forex Mid-Day Technical Report Yen Weakens Further on US Rate Cut Expectations Yen is the major mover in an otherwise quiet market today. Expectation of rate cut from Fed remains the major theme today after dovish comments from Bernanke. Interest rate futures are pricing an 100% chance of a 25bps on Dec 11. Global stock markets are boosted by such expectation which in turn trigger increased risk appetite and weakness in the Japanese yen, and to a lesser extent the Swissy Franc. A load of

Conditions within the global credit markets and implications for economic trends continued to exert a powerful influence on markets over…