All Blog Entries

Welcome to the FXReturn.com London Forex Market Call for June 28th.,2010. GBP/USD: Closes up 123 points on the session as the market reaches our first price objective of 1.5055. The next objective is pivot resistance at 1.5123 then 1.5189. Although the money flow indicator is still on the short side, funds are starting to build a long position. A close below the 10 day average at 1.4847 will send the market back down to pivot support at 1.4344 then 1.4236. Technicals remain positive | GOLD: Closes above resistance at 1251.9. The next upside objective is 1264.8 then 1273. The 10 day average which settled at 1239 is acting as support to the market. Technicals have turned back up negating the bearish divergent pattern that was recognized last ...

[B]The beginning of the new month is busy as always, culminating with the Non-Farm Payrolls. There are lots of other major events as well. Here’s an outlook for the market-moving events that are awaiting us.[/B]

The Chinese central bank lifted the peg on the yuan, in a move that was anticipated for a long time. [URL="http://www.forexcrunch.com/commodity-currency-break-out-after-chinese-move/"]Commodity currencies enjoyed it[/URL], while others currencies had only limited gains against the dollar. This gap will probably continue this week as well. Let’s start:

[LIST=1][*][B]American Personal Spending[/B]: Published on Monday at 12:30 GMT. This is an important indicator of the economy – more spending ...

[B]Retail Sales as well as building approvals are the highlights in a busy Australian week. Will the Aussie continue north? Here’s an outlook for the Australian events and an updated technical analysis for AUD/USD.[/B]

AUD/USD daily chart with support and resistance lines on it. Click to enlarge:
[URL="http://www.forexcrunch.com/wp-content/uploads/2010/06/australian-dollar-aud-usd-forecast.jpg"][IMG]http://www.forexcrunch.com/wp-content/uploads/2010/06/australian-dollar-aud-usd-forecast-450x233.jpg[/IMG][/URL]
The [URL="http://www.forexcrunch.com/commodity-currency-break-out-after-chinese-move/"]Chinese move on the yuan[/URL] is great for Australia, that exports commodities to China. With a stronger yuan, ...

Here are some selected forex-related articles for the weekend. All have a rather long term scope and are in a variety of subjects. Enjoy:

[LIST][*][URL="http://www.forexblog.org/2010/06/china-revalues-rmb-by-4.html"]Adam Kritzer[/URL] diagnoses the Chinese move on the yuan, and is quite skeptical. We’ve seen a [URL="http://www.forexcrunch.com/commodity-currency-break-out-after-chinese-move/"]temporary impact on commodity currencies[/URL].[*][URL="http://www.kathylien.com/site/australian-dollar/cnbc-interview-outlook-for-euro-and-aussie"]Kathy Lien[/URL] brings her outlooks on the Euro and the Aussie, in TV interviews.[*][URL="http://currencythoughts.com/2010/06/22/gambling-on-fiscal-restraint/"]Larry Greenberg[/URL] discusses ...