forex

Forex Charting Packages

2010-12-16T02:14:00.001-08:00

Having the right charting tools to read patterns for buy and sell signals is critical. FOREX.com offers both prioprietary and independent charting packages that help you spot a new trend through technical analysis

TECHNICAL UPDATE: GBP/CHF marks new record lows

2010-12-16T02:13:00.002-08:00

The Swiss franc has continued to strengthen following the comments that came from Swiss Finance Minister Eveline Widmer-Schlumpf. The franc today reached record highs against the euro and the pound. While we would expect to see the franc to continue to strengthen, these levels seem a bit extreme as indicated in the weekly GBP/CHF chart below. The trend remains lower as evidenced by the lower highs and lower lows, however it appears that the pair is approaching significant support levels. First, it is testing the psychological support of 1.5000. Also, this is where the channel support comes in and lastly, this is the 61.8% Fibonacci projection of the last movement from the top to bottom of the channel. In our view, as long as the channel persists, we would maintain

THE COMMODITIES CORNER: XAU/EUR finds support around €1038

2010-12-16T02:13:00.000-08:00

Fundamentally higher precious metals prices has been driven by a global low interest rate environment, renewed quantitative easing measures in the United States and further economic bailouts in the European Union. Additionally, there is ongoing “safe-haven” demand from global investors who believe these unconventional monetary policies are effectively undermining the value of their assets; consequently they are looking to diversify away from their fiat moneys in search of tangible currency alternatives. While concerns have subsided of late regarding the EU’s contagion spreading, we believe it is only a matter of time before larger nations within the EU, namely Spain and Italy, bear the full brunt of this financial storm. Thus, we anticipate a shift from euro denominated assets into find variety of alternatives (precious metals, usd, chf and the

Weekly Oil Market Outlook: Oil prices supported by improving global growth outlooks and tightening supply

2010-12-16T02:12:00.001-08:00

Last week’s release of the December IEA Oil Market Report noted an upwards revision to their 2011 global oil demand forecast of +260,000 bbl/d, an expected yearly increase of +1.6% and largely in line with OPEC’s projections for oil demand growth of +1.3%. Additionally, the latest Dec. 15 release of the D.O.E. weekly inventories report showed U.S. stockpiles declined more than expected by -9.85 million barrels, the largest drop in 8 years. Accordingly, we have revised our outlook for oil prices to the topside as current market developments indicate considerable oil market tightening has been set in motion. Third quarter demand strength has spilled over into Q4, resulting in a significant draw in offshore and onshore crude oil inventories. However, the Organization of Petroleum

ASIA SESSION: EU Summit Silences Euro

2010-12-16T02:11:00.001-08:00

Although the moves were scarce compared to trading in New York, today’s Asian session saw the Dollar pinned to recent highs in a day dominated by gloomy news out of Europe. The EUR/USD remained at recent lows just under 1.3210 as renewed fears of the European debt issues dominated the minds of investors ahead of the European Union’s two day economic summit in Brussels that begins later in the day. Traders took a hands off approach to the Euro in the midst of riots in Greece against austerity measures, renewed fears of contagion to Spain, Portugal, Belgium and Italy and continued friction between Germany’s Chancellor Angela Merkel and the rest of the EU who cite her views as “un-European”. All of this sits against a backdrop of EU leaders who