Alan’s Forex Blog

News and Events: The Dollar sank to a two-month low against a basket of currencies on Wednesday after the Federal Reserve cut benchmark interest rates by 0.50bp and warned more may be needed to support the faltering US economy. The move comes just eight days after the US central bank unexpectedly cut its lending rate by 0.75bp to boost an economy battered by a deep housing slump and a persistent credit crisis. The cumulative 1.25bp reduction in less than 10 days brings rates to 3%, a

    1 minute with ForexSurvivor     (31 Jan Europe) Has the dollar furnished the base? In the end a bottom should be held to allow the interpretation of NFP tomorrow that may hint a screen towards 11000 vs. chf.   Gold stuck below $940! A level mentioned a week ago & worth paying attention to – check then! Apparently, the status now is in the formation of a squeezing triangle that will cause downgraded price towards a big ‘jolt.’   What is wrong with you

The Fed cut was not satisfying for US stocks, who closed lower. Asian equities however enjoyed a rally due to positive earnings sending bonds lower. In EURUSD, we could see a re-test of all-time highs Overnight News Bullets HU Unemployment Rate (DEC) out at 7.7% vs. 7.5% expected vs. 7.5% prior read. PD Annual GDP (DEC) out at 6.5% vs. 6.5% expected vs. 5.8% prior read (revised higher to 6.2%) NO Retail Sales MoM/YoY (DEC) out at -0.7%/5.6% vs. 0.3%/7.2% expected vs. 1.0%/7.5% prior read. NO

Action Insight Daily Report New Record Low in USD/CHF after FOMC Slashed Rates The clear winner of yesterday’s Fed 50bps rate cut was the Swissy which reached new record high against the greenback at 1.0794 and strengthened across the board in general. Euro also surged against dollar and sterling and remains firm today. However, high volatility in commodity currencies were seen following sharp reversal in stocks and pullbacks in gold and oil prices. Yen rebounded following DOW’s reverse by

EUR/USD :Look to sell the eur/usd around 1.4900-1.4950 GBP/USD :Look to sell the gbp/usd around 1.9950-2.0 Happy Trading Juan Saton

EUR/USD continues to stay in tight range after rally from 1.4365 was limited at 1.4913, touching short term falling trend line (now at 1.4902). Outlook remains unchanged so far. At this point, intraday bias remains on the upside as long as 1.4786 minor support holds. Further rise is still expected…

Forex traders saw plenty of follow through in today’s Asia session after a volatile New York afternoon which was ignited by Wednesday’s FOMC rate decision.  Following this afternoon’s incredible spike lower, the greenback looked to take back some ground.  The currency spent most of the Asia session in choppy action, with results mixed at best, into the conclusion. AUDUSD opened offered and was on the decline from early on.  Opening the session 175+ to the downside from NY highs,

GBP/USD continues to engage in sideway consolidation in tight range below 1.9957. As discussed before, with 4 hours MACD staying below signal line, an intraday top is in place and further consolidation should be seen, with risk of pull back to 4 hours 55 EMA (now at 1.9771). But still,…