ForexPros Daily News October 6, 2010
ForexPros Daily News October 6, 2010
Free webinar on ForexPros - Top 12 Golden Trading Tips: Start Your Day on the Right Side of the Market
Expert: Stephanie Radkay
When: Mon, Thu, Oct 7, 2010, 11:00 ET
Trading can be as risky as flying a plane. Pilots use a checklist to get off the ground and so should traders. Here is your 12 tip checklist to give you the confidence and the best opportunity for success. In this webinar Stephanie Radkay, CME Floor Broker, Screen Trader and Educator, will address personal vs. market risk like you've never seen it before, her Rotating Directional Trading System (RDS) and 10 other golden nuggets that have been used successfully since 1993.
Click here to join free
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Forex - GBP/USD hits fresh 2-month high as dollar slumps
Forex Pros – The pound edged higher against the U.S. dollar on Wednesday, rising to a fresh 2-month high as concerns that the Federal Reserve will begin fresh monetary easing to stimulate U.S. growth weighed on the dollar.
GBP/USD hit 1.5940 during European morning trade, the pair’s highest since August 9; the pair subsequently consolidated at 1.5990, gaining 0.07%.
Cable was likely to find support at 1.5751, Tuesday’s low and resistance at 1.5995, the high of August 9.
The Bank of Japan's decision on Tuesday to cut interest rates to near zero and embark on a monetary easing program further added to fears that the Fed would follow suit.
On Monday, Fed Chairman Ben Bernanke said that the bank aided the U.S. economy through its USD 1.75 trillion purchases of mortgage debt and Treasuries that ended in March 2010 and that more buying would help further.
Meanwhile, the pound was down against the euro, with EUR/GBP gaining 0.10% to hit 0.8717.
Later in the day, the U.S. was to release ADP non-farm payrolls data.
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Forex Trading Analysis written by Munther Marji for ForexPros. For more information about technical analysis visit ForexPros.
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Disclaimer:
Fusion Media will not accept any liability for loss or damage as a result of reliance on the information contained within this website including data, quotes, charts and buy/sell signals. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible. Currency trading on margin involves high risk, and is not suitable for all investors Before deciding to trade foreign exchange or any other financial instrument you should carefully consider your investment objectives, level of experience, and risk appetite. Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All stock prices, indexes, futures and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn’t bear any responsibility for any trading losses you might incur as a result of using this data.
Free webinar on ForexPros - Top 12 Golden Trading Tips: Start Your Day on the Right Side of the Market
Expert: Stephanie Radkay
When: Mon, Thu, Oct 7, 2010, 11:00 ET
Trading can be as risky as flying a plane. Pilots use a checklist to get off the ground and so should traders. Here is your 12 tip checklist to give you the confidence and the best opportunity for success. In this webinar Stephanie Radkay, CME Floor Broker, Screen Trader and Educator, will address personal vs. market risk like you've never seen it before, her Rotating Directional Trading System (RDS) and 10 other golden nuggets that have been used successfully since 1993.
Click here to join free
---
Forex - GBP/USD hits fresh 2-month high as dollar slumps
Forex Pros – The pound edged higher against the U.S. dollar on Wednesday, rising to a fresh 2-month high as concerns that the Federal Reserve will begin fresh monetary easing to stimulate U.S. growth weighed on the dollar.
GBP/USD hit 1.5940 during European morning trade, the pair’s highest since August 9; the pair subsequently consolidated at 1.5990, gaining 0.07%.
Cable was likely to find support at 1.5751, Tuesday’s low and resistance at 1.5995, the high of August 9.
The Bank of Japan's decision on Tuesday to cut interest rates to near zero and embark on a monetary easing program further added to fears that the Fed would follow suit.
On Monday, Fed Chairman Ben Bernanke said that the bank aided the U.S. economy through its USD 1.75 trillion purchases of mortgage debt and Treasuries that ended in March 2010 and that more buying would help further.
Meanwhile, the pound was down against the euro, with EUR/GBP gaining 0.10% to hit 0.8717.
Later in the day, the U.S. was to release ADP non-farm payrolls data.
---
Forex Trading Analysis written by Munther Marji for ForexPros. For more information about technical analysis visit ForexPros.
---
Disclaimer:
Fusion Media will not accept any liability for loss or damage as a result of reliance on the information contained within this website including data, quotes, charts and buy/sell signals. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible. Currency trading on margin involves high risk, and is not suitable for all investors Before deciding to trade foreign exchange or any other financial instrument you should carefully consider your investment objectives, level of experience, and risk appetite. Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All stock prices, indexes, futures and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn’t bear any responsibility for any trading losses you might incur as a result of using this data.
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