Daily Markets - British Pound Hits 6-Week Low Against US Dollar

British Pound Hits 6-Week Low Against US Dollar
Charge Up The Yield From Your Portfolio With These Utility Stocks
Forex Trading: USDCAD Test Fibo Resistance And MA Resistance And Holds
Australian Dollar: Caution
Canadian Dollar: Bullish Bias Above 1035
Cotton Shrinkage Sparks Rally
Forex Trading: EURUSD Tests Target Support At 1.2712.

British Pound Hits 6-Week Low Against US Dollar

Posted: 07 Sep 2010 10:01 AM PDT

Price action on GBP/USD (a 4-hour chart of which is shown) as of Tuesday (9/07/2010) has tentatively broken down below the previous major low of 1.5325 hit in late August to establish a new 6-week low just below 1.5300.

This occurs within the context of a new potential downtrend extending back to mid-August, and is represented by a key downtrend resistance line. In the event of further bearishness off the current breakdown, price should target further downside support in the 1.5200 price … [visit site to read more]

Charge Up The Yield From Your Portfolio With These Utility Stocks

Posted: 07 Sep 2010 08:45 AM PDT

There was a time when the words “widows and orphans” pretty much defined utilities stocks. As well-regulated monopolies whose products were in constant and increasing demand, they provided a steady stream of income with a level of safety adequate for even the most conservative portfolios.

Because of more competition, looser rate regulation, and slower growth, utility stocks aren’t quite the safe haven they once were. But with interest rates at all-time lows and continuing economic … [visit site to read more]

Forex Trading: USDCAD Test Fibo Resistance And MA Resistance And Holds

Posted: 07 Sep 2010 08:33 AM PDT

… [visit site to read more]

Australian Dollar: Caution

Posted: 07 Sep 2010 08:18 AM PDT

Update on supports and resistances. … [visit site to read more]

Canadian Dollar: Bullish Bias Above 1035

Posted: 07 Sep 2010 08:18 AM PDT

Update on supports and resistances. … [visit site to read more]

Cotton Shrinkage Sparks Rally

Posted: 07 Sep 2010 08:18 AM PDT

Fundamentals
China’s Cotton crop may have suffered worse damage than previously expected, which will likely cause the nation to suffer its second consecutive decrease in output. This comes on the heels of news that Pakistan’s crop is suffering similar damage. These two Asian heavyweights will likely need to import heavily to meet current demand. This bears a striking resemblance to the Wheat situations a little while back, when US farmers enjoyed favorable growing conditions while farmers … [visit site to read more]