02/01/2012 in Oanda, Trading, Trading Forex
As stated on Oanda-s web site, long to short positions Ratio is 40/60. This info on current open orders and open positions in Forex market lets an interpretation of current trading activity of thousands of traders, including the client price expectations that are contributing to natural resistance and support levels.
Ratio for other pair you could see on image bellow.
01/27/2012 in Trading, Trading Forex
EUR/JPY drops below 101.00 on general JPY buying interest.
The Euro has traded down to 100.75 yen during the Asia/Pacific session. EUR/JPY support is seen at 100.28 (3 Jan high), with resistance at 101.13 (intraday).
Right now the Japanese currency is supported on exporter-based buying as they convert proceeds into yen. Dealers say it’s a typical Friday clean-out with no-one wanting to sit on extra-large positions over the weekend.
01/26/2012 in EURO, Trading, Trading Forex
Open 1.3110 High 1.3120 Low 1.2929 Close 1.3105
On Wednesday, 25th January, 2012 Euro/Dollar increased significantly with 190 pips. The Euro appreciated from 1.2929 to 1.3120, matching the positive Interbank sentiment projection at almost +10%.
A break above the resistance and yesterday’s top at 1.3120 may trigger further strengthening of the Euro. Going bellow yesterday’s low at 1.2929, would confirm continuation of the bearish trend, towards 1.2818.
Today’s focus is on France and Italy Consumer confidence, at 7:45 and 9 GMT respectively.
Technical resistance: 1.3120 1.3237 1.3360
Technical support: 1.2929 1.2818 1.2700
Trading range: 1.2995 – 1.3170
Trend: Upward
01/24/2012 in Trading
The EURO increased considerably against the major currencies yesterday as a result of the announcement of the decision on the Greece’s debt crisis. Despite the lack of amicable solution, the EURO did gain considerably. This trend is expected to change today as traders await the announcement of the Richmond Index at 10:00 AM. In the last quarter of last year, the Richmond Index was seen as the only index that reported significant gain.
Sentiment about the Richmond Index is expected to be the main determinant of the USD opening value against major currencies on Tuesday. The Richmond Index is expected to report the same positive trend this month, considering the fact that other reports such as the Unemployment Claims fell considerably this month which saw the USD gain considerably when the figures were released.
However, the risk appetite in the Eurozone is expected to remain high as the debt crisis continues to hover. Nonetheless, the expected release of more reports in the US will keep the USD’s volatility. The USD low performance was as a result of successful debt auction in Spain and France which rekindled hopes of euro-zone economic recovery. The Greece deal and its pending successful settling have strengthened these sentiments.
Starting Tuesday, January 24, 2012, the USD is forecasted to exhibit volatility as paramount economic indicators are released. The one to start off the week will be the Richmond Index followed by the FED FOMC Statement on Wednesday; these are some of the key indicators that traders are supposed to keep a keen eye on. As the greenback tries to keep its volatility making, the development in the Eurozone crisis will be a key issue that traders will keep an eye one throughout the week.
The elusive solutions in the Eurozone debt crisis and the different reports expected this week will be key issues that will affect the market trends. The USD is expected to gain in on the EURO which saw a steady increase yesterday starting at 1.2900 and closing at 1.3034. The rising oil prices are also expected to keep the CAD pushing against the USD.
01/24/2012 in EURO, Trading, Trading Forex
Looking ahead, the focus turns to January’s preliminary set of Eurozone PMI figures, with consensus forecasts calling for narrow improvements.
The region-wide composite PMI reading is expected to rise to 48.5 in January from 48.3 in the previous month, meaning both the manufacturing and service sectors shrank at a slower pace.
While this hardly sounds like something that ought to make investors overly cheerful, the results offer a bit of additional fodder for the corrective Euro rebound to continue as over-stretched net-short positioning is unwound ahead of next week’s EU leaders’ summit (which likely explains the sanguine response to continued impasse on Greek PSI negotiations ).
Speculative bets on Euro weakness hit another record high last week according to data from the CFTC.
01/23/2012 in Trading, Trading Forex
Barclays Capital recommends against buying the EUR/USD even if signs emerge that Greece and its private-sector creditors are making progress on a debt deal.
“Although a positive outcome may reduce the EUR risk premium, the balance of risks, a slowing real economy and further easing by the ECB all suggest fading any short-term rally in the EUR,” says Aroop Chatterjee, a Barclays FX strategist.
01/18/2012 in Trading, Trading Forex
Recent upside move of EURO seems more a result of short covering rather than fresh position initiations ahead of upcoming heavy event risks – Portugal T-bill auction and German bond auction on Wednesday followed by French and Spanish bond auctions on Thursday.
Greek-private sector debt swap negotiations also set to resume today and involved parties are feeling the heat on both political and social fronts. ECB, EU, IMF, and IIF officials have stressed urgency for an agreement so as to avoid a disorderly Greek default and possibly ensuing systemic meltdown for Europe’s financial institutions. On the flip side, strikes and protests practically shut-down the city of Athens Tuesday as Greek citizens voiced their collective dissatisfaction towards already implemented and potential future austerity measures by its government.
Considering EUR shorts hit record levels last week, position squaring seems a more plausible driver of recent EUR/USD strength.
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