Category Archives: Daily Forex Technical Reports

daily forex technical reports

Mid-Day Forex Technical Report – Markets Still in Range after Steep Decline in Existing Home Sales

Forex Mid-Day Technical Report Markets Still in Range after Steep Decline in Existing Home Sales Markets remain in tight range after housing data from US, waiting for catalyst for break out. Existing home sales continues to show steeper than expected pace of housing down turn. Sales dropped -8.0% in Sep to 5.04m annualized rate, much weaker than consensus of 5.28m, and is the largest decline since 1999. The months of homes available for sale rose to 10.5, the highest since 1999. Median house

Daily Forex Technical Report – Markets Hesitate ahead of US Existing Home Sales

Forex Daily Technical Report Markets Hesitate ahead of US Existing Home Sales Despite recovering much of the earlier’s loses against the greenback, Euro and Sterling hesitates ahead of near term high against the greenback. Markets focus are turning back to US economic data which has a late start this week. Existing home sales is expected to continue to the slump and drop another -4.0% to 5.28M annualized rate, a new low in nearly six years. Further disappointment from today’s housing data and

Mid-Day Forex Technical Report – Dollar Back in Pressure, CAD at New High

Forex Mid-Day Technical Report Dollar Back in Pressure, CAD at New High Dollar gives back most of yesterday’s gain today and weakens sharply against Euro and Sterling on speculation that Fed will cut rates again next week. Canadian dollar also edges to new 33 year high of 0.9625 against the greenback and remains firm after stronger than expected retail sales, rising 0.7% mom comparing to consensus of 0.5%. Sterling is also supported by a speech from BoE Barker which suggests she will vote to

Daily Forex Technical Report – Markets Stabilized on Stocks Recovery, Canadian Retail Sales Eyed

Forex Daily Technical Report Markets Stabilized on Stocks Recovery, Canadian Retail Sales Eyed The markets stabilized after US stock markets recovered and followed by recovery in global stock markets too. Yen retreats from yesterday’s climax high while dollar, which was benefited from carry trade unwinding in yen, also retreats. Nevertheless, the outlook remains unchanged. Last weeks’ single week reversal in yen crosses should have marked the completion of the the rebound of yen crosses that

Mid-Day Forex Technical Report – All Dragged Down by Massive Yen Strength

Forex Mid-Day Technical Report All Dragged Down by Massive Yen Strength The forex markets are dominated by carry trading unwinding activities today. The current round of market actions focus on yen crosses which overwhelms dollar’s post G7 weakness. The yen’s strength is attributed to the urge for yuan’s acceleration of revaluation and, more important, tumbling global stock markets that started last Friday in US, followed by Asian stock markets and then European stock markets. With lack of

Daily Forex Technical Report – Yen Surges on Risk Aversion, Dollar Hits Another Record Low against Euro

Forex Daily Technical Report Yen Surges on Risk Aversion, Dollar Hits Another Record Low against Euro Recent trends continues as the week starts. Dollar tumbles to new record low against Euro at 1.4348 and weakens against majors. The Japanese yen receive additional boost from carry trade unwinding on falling stock markets with yen crosses gapped sharply lower. Swissy is also boosted by carry trade unwinding and strengthens in crosses too. Meanwhile, the commodity currencies weaken even against

Forex Weekly Review and Outlook – Dollar Weakness and Yen Strength Expected to Continue after G7

Forex Weekly Review and Outlook Dollar Weakness and Yen Strength Expected to Continue after G7 Dollar tumbled across against majors currencies last week and increased expectation for an Oct rate cut, with EUR/USD making another record high while USD/CAD making new 33 year low. Though, both Aussie and Kiwi retreated, dragged down by selloff in yen crosses. Meanwhile, Japanese yen surged across the board on risk aversion and build up to G7 meeting. With no specific mentioning of dollar, euro and