Forex Signal: USD/JPY Faces Heavy Downside
July 21, 2010 at 14:18 UTC || By Forex Playmaker
The US dollar continues to face substantial downside relative to the Japanese yen, as the pair continues to track the perceived health of the global economy. The yen tends to strengthen against its major counterparts as the perceived health of the economy deteriorates in the eyes of global investors. Ahead of Fed Reserve Chairman Ben… Continue Reading
Daily Forex Signal: GBP/USD May Retrace Toward 1.50
July 19, 2010 at 12:25 UTC || By Forex Playmaker
The British pound is losing ground against the US dollar at this hour, as the decline from recent highs near the 1.55 handle continue in trading today. The GBP/USD is last priced at 1.5225, trading near its session lows just above the 1.52 handle. The next level of support for the currency pair should present… Continue Reading
Daily Forex Signal: EUR/CHF to Test Swiss Bank Resolve
July 12, 2010 at 15:55 UTC || By Forex Playmaker
The euro faces mounting pressure against the Swiss franc ahead of an expected Swiss National Bank intervention at the 1.30 level. Global traders and dealers are betting on an SNB intervention once the EUR/CHF trades down to the 1.30 mark, which may make the move self-fulfilling. Once the 1.30 mark is reached, the central bank… Continue Reading
Daily Forex Signal: Selling Risk Into Weekly Close – NZD/USD
June 24, 2010 at 15:06 UTC || By Forex Playmaker
Heading into the weekly close, traders should continue to short riskier currencies, which have held up surprisingly well amid broader market declines. Specifically, the New Zealand dollar appears overpriced relative to its US counterpart, which may result in a sharp selloff heading into tomorrow’s session. Last priced at 0.7110, the pair remains near its highest… Continue Reading
Daily Forex Signal: EUR/USD Weakness is Coming
June 23, 2010 at 15:19 UTC || By Forex Playmaker
On the heels of the FOMC rate statement, which market participants confused as being good news, the euro is climbing against the US dollar. However, those gains will be lost soon. Last priced at 1.2315, the EUR/USD has exhibited some stability over the past couple weeks, which “analysts” have confused as suggesting stability going forward…. Continue Reading
Daily Forex Signal: USD/CHF Set to Rise
June 22, 2010 at 16:14 UTC || By Forex Playmaker
Riskier assets are selling off in trading today, and the threat of further, significant declines from present levels is very real. Key data on new home sales tomorrow should confirm Forex Playbook’s stance that the housing market will grow far worse in the months ahead. As market participants begin to accept that reality, riskier assets… Continue Reading
Daily Forex Signal: USD/JPY’s Yuan Spike to Reverse
June 21, 2010 at 14:29 UTC || By Forex Playmaker
Following news that the People’s Bank of China will end its two-year-old peg to the US dollar, the USD/JPY spiked to a high of 91.47. The move came as the pair finds itself in a medium-term downtrend, which is likely to resume in the very near-term. The USD/JPY is last priced at 90.95, having already… Continue Reading
Daily Forex Signal: NZD/USD May Reach 0.72
June 16, 2010 at 20:45 UTC || By Forex Playmaker
As the risk trade gains steam, the New Zealand dollar may climb a couple more handles against its US counterpart in the very near-term. Last priced at 0.6955, the NZD/USD appears to have upside toward 0.72. However, the pair will likely head lower before its next leg up and the downside appears to be limited… Continue Reading
Daily Forex Signal: EUR/CHF at SNB Resistance
June 15, 2010 at 23:41 UTC || By Forex Playmaker
As reporter earlier today, the EUR/CHF is up against a key resistance level put in place by the Swiss Bank: Appreciation for the euro against the Swiss franc has stalled at the 1.40 handle, the level at which the Swiss National Bank last intervened to limit the franc’s appreciation against the shared currency… The SNB’s… Continue Reading
Daily Forex Signal: EUR/GBP Topping Out
June 14, 2010 at 21:50 UTC || By Forex Playmaker
The euro is falling further against the British pound in Asia trading and appears to have significant downside going forward. Last priced at 0.8280, the pair failed to breach resistance above the 0.8375 mark and has since fallen to its present levels. The longer term trend, meanwhile, continues to favor the pound against the euro… Continue Reading
