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: 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: AUD/USD Has Upside on Risk Rally
June 13, 2010 at 20:37 UTC || By Forex Playmaker
The Australian dollar has room to run against its US counterpart, should the rally for risk sustain in the days ahead. Last priced at 0.8555, the AUD/USD is trading just above a key resistance level, which may signal some upside in the the very near-term. The open of trading in London will be especially important… Continue Reading
Daily Forex Signal: NZD/USD Rises Ahead of Major Drop
June 9, 2010 at 20:16 UTC || By Forex Playmaker
The New Zealand dollar is moving higher in Asia trading today, following a 0.25% rate hike out of the RBNZ. While the rate hike was anticipated coming into the session, the price action that followed suggests that some traders were taken off guard. The NZD/USD bounced as much as 100 pips following the hike, but… Continue Reading
Daily Forex Signal: USD/JPY Resistance Holding Strong
June 8, 2010 at 20:01 UTC || By Forex Playmaker
The US dollar appears to have topped out against the Japanese yen, if only temporarily, and appears to have downside from present levels. Last priced at 91.35, the USD/JPY failed to breach its short-term resistance level earlier in the session. The next leg down for the pair could easily reach the 90.75 level, after which… Continue Reading
