Friday, March 25, 2011

DailyMarkets.com - Forex Trading: GBPUSD Checks Trendline On Daily Chart

DailyMarkets.com - Forex Trading: GBPUSD Checks Trendline On Daily Chart

Forex Trading: GBPUSD Checks Trendline On Daily Chart

Posted: 25 Mar 2011 07:17 AM PDT

The GBPUSD is moving toward trendline support at the 1.6042 level. Earlier today, the market found support buyers and the price rebounded modestly. This is the second check of the support. A break will next target the 38.2% of the move up from the December 2010 low off this daily chart. That comes in at the 1.5995 … [visit site to read more] or compare Best Credit Cards and Best CD Rates

GBP/USD Tests 1.6060 Pivot; Key Support Zone At 1.5975-1.60

Posted: 25 Mar 2011 07:11 AM PDT

GBP/USD's Bearish Impulse Wave Suggests Further Correction (3/24)
GBP/USD

Short Term to Medium Term
- The GBP/USD can be seen in the 1H chart developing a bullish divergence as the market attempts to satisfy a negative reversal target. (swing projection to 1.6050.)
- The RSI in the 4H chart is below 40, but has  not tagged 30 to show bearish momentum. Below 30, the RSI reflects medium term ranging action. If not, we have more bullish bias, though we still are in a choppy market.
- … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Real GDP Sets Record, Highest Gain Since 2005

Posted: 25 Mar 2011 07:09 AM PDT

On an annual basis, real GDP grew by 2.9% in 2010, the highest annual gain since a 3.05% increase in 2005, according to today’s BEA report.  In dollars, real GDP in 2010 was $13.248 trillion, which set a new annual record for U.S. output, surpassing the $13.228 trillion levels in 2007 and … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Boeing’s Orders Grow For 777

Posted: 25 Mar 2011 07:05 AM PDT

The Boeing Co. (NYSE:BA) announced that FedEx Corporation (NYSE:FDX) has ordered four more 777 freighter jets with an average list price of $269.1 million per plane. The total order reaches approximately $1.08 billion.
FedEx is the largest operator of the 777 freighter jets. Currently, FedEx has 17 of the planes on order with 10 already in service. Additionally, it has made a separate order for 15 of the jets subject to the Congress not changing any of the governing laws.
777 freighter jets, the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Office Depot’s New M-Application

Posted: 25 Mar 2011 06:55 AM PDT

Office Depot Inc. (NYSE:ODP), one of the leading suppliers of office products and services across the globe, recently launched its new iPhone and Android mobile applications to conduct business transactions on the internet using a mobile phone.
Application Decoded
Following its strategy of "Office Depot Anywhere", the applications will enable its clients to transact at their ease from an array of services on mobile and m-commerce-equipped websites. Moreover, the company has also empowered its … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Mylan Buys Rights From Humeca

Posted: 25 Mar 2011 06:55 AM PDT

Mylan Inc. (NYSE:MYL) recently obtained exclusive US rights for the distribution of plastic surgery and burn treatment products of Humeca. Humeca is a Netherlands-based company manufacturing products that repair skin defects.
Humeca's modified MEEK micro grafting system is an extremely effective technique for skin transplantation compared to the commonly-used mesh graft technique. It is particularly used for treating patients with large burns for whom donor tissue is not easily … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex Trading: EURUSD Tests Corrective Resistance Intraday And Holds.

Posted: 25 Mar 2011 06:50 AM PDT

The EURUSD has moved higher off the lows and corrected toward the 38.2% of the move down from the most recent intradays high (at 1.4136). Also at the area was the initial low for the trading day at the 1.4139 level.  The failure to extend above this level (and coming short of the days 38.2% retracement) should lead to lower levels and perhaps a break of the 61.8 off the hourly chart at 1.4111  A break of  that level would next pave a move toward the 200 hour MA at the … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – NZD/USD Up During The European Session

Posted: 25 Mar 2011 06:50 AM PDT

Forex Pros – The New Zealand Dollar was higher against the U.S. Dollar on Friday.

NZD/USD was trading at 0.7532, up 0.57% at time of writing.

The pair was likely to find support at 0.7309, Monday's low, and resistance at 0.7538, today's high.

Meanwhile, the New Zealand Dollar was up against the Australian Dollar and the Euro, with AUD/NZD shedding 0.31% to hit 1.3593 and EUR/NZD falling 0.90% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Why Gold And Gold Shares Have Consolidated For Five Months

Posted: 25 Mar 2011 06:36 AM PDT

Yes Gold has been flirting with all-time highs. Sounds strong, right? Wrong. In reality, Gold has been in a consolidation or running correction since October of last year. In recent weeks Gold has flirted with all-time highs but hasn't been able to achieve a sustained breakout. Meanwhile, as the chart shows, the gold stocks (GDX, GDXJ) have been in the same consolidation. Yesterday, as Market Vectors Gold Miners ETF (GDX) and Market Vectors Junior Gold Miners ETF (GDXJ) neared … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Embraer’s 4Q Exceeds Zacks Estimate

Posted: 25 Mar 2011 06:35 AM PDT

Brazilian aircraft manufacturer Empresa Brasileira de Aeronautica S.A., or Embraer(NYSE:ERJ) reported encouraging results for the fourth quarter and fiscal year 2010, surpassing or meeting all its annual guidance. Earnings per ADS climbed 29.2% year over year to $0.6777 from $0.5246 in the year-ago comparable quarter. Results were also above the Street Consensus of $0.63 per ADS.
The improvement in bottom-line results can be attributed to higher sales and decline in operating expenses, which … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Stock Market News Briefs: Best Buy Co., Citigroup, Drugstore.com, McDermott International, MediciNova, SuccessFactors, Taleo, TranS1, Walgreen Company

Posted: 25 Mar 2011 06:35 AM PDT

 Beat Buy (NYSE:BBY) reported Q4 EPS today of $1.98, beating the Zacks Consensus Estimate of $1.84 per share. Revenue for the quarter was down 1.8% year-over-year to $16.3 billion higher than the Zacks Consensus Estimate of $16.298 billion

 Walgreen Co. (NYSE:WAG) reported its plan to purchase online pharmacy drugstore.com inc (NASDAQ:DSCM) for $3.80 a share, or about $409 million

 Medical-device manufacturer TranS1 Inc (NASDAQ:TSON) said U.S. regulators had cleared its spinal implant … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Alt-Energy: A Checklist

Posted: 25 Mar 2011 06:35 AM PDT

1.  Fuel cells are a complete boondoggle. Hydrogen is produced from either electrolysing water or stripping it from natural gas.  Both are expensive and energy-intensive.  The future of fuel cells could be as, effectively, ‘batteries’ in vehicles or heavy equipment, or in homes and buildings.  This role could be enhanced and expanded, if they can use natural gas to produce electrical power.  They are presently a sideshow, at best.

2.  Solar power has some niche … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Great News For The Bank Stocks, But Why I Won’t Buy Them

Posted: 25 Mar 2011 06:32 AM PDT

The big U.S. banks must be ecstatic.

After 100 people at the Federal Reserve ended their review of major U.S. banks, the Fed concluded that some of the largest banks in this country could increase their dividends, buy back shares and repay government loans.

JPMorgan Chase & Co. (NYSE:JPM), Wells Fargo & Company (NYSE:WFC) and State Street Corporation (NYSE:STT) wasted no time in announcing dividend increases for the benefit of their "patient" shareholders. JPMorgan was the most … [visit site to read more] or compare Best Credit Cards and Best CD Rates

FX Headlines: Franc, Yen Weaken On Recovery Outlook

Posted: 25 Mar 2011 06:30 AM PDT

Typically viewed as safe haven currencies, the Swiss Franc and Japanese Yen declined against a basket of major currencies as traders ramped up bets that the major economies would be able to withstand recent economic woes and continue on the path to recovery. Despite increased headwinds to the recovery – the natural disasters in Japan, spreading turmoil in the Middle East and North Africa region, further sovereign debt issues in Europe, and rising inflationary pressures around the globe – it … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/CHF Up In European Trade

Posted: 25 Mar 2011 06:25 AM PDT

Forex Pros – The Euro was higher against the Swiss Franc on Friday.

EUR/CHF was trading at 1.2919, up 0.30% at time of writing.

The pair was likely to find support at 1.2737, Wednesday's low, and resistance at 1.2954, today's high.

Meanwhile, the Euro was down against the U.S. Dollar and the Japanese Yen, with EUR/USD shedding 0.36% to hit 1.4126 and EUR/JPY falling 0.18% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

EUR/USD Short-term Elliott Wave Count

Posted: 25 Mar 2011 06:23 AM PDT

EUR/USD Bounces off 50% and Targets 1.43 (3/24)
EUR/USD

Short Term to Medium Term
- The EUR/USD was seen heading towards 1.43. So far, the swing fell short and was pushed back near 1.41, after testing 1.4220. Now, if this decline is just part of a new rally, it should be supported at 1.4090 (78.6% retracmeent) if not 1.4120 (61.8% retracement).
- Otherwise, we might not be done with wave 4. I think more likely, we did finish wave 4, and this is wave (ii) of wave 5. If this is wrong, wave … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Using Google For Flu Trends, Gathering Intelligence

Posted: 25 Mar 2011 06:22 AM PDT

NPR – “Back in 2009, during the swine flu epidemic in the U.S., Google launched Google Flu Trends (see chart above). The National Institutes of Health found it helped them track outbreaks of the disease. It turns out that when people started to feel feverish and nauseous, they would go to Google to check out their symptoms. While it wasn’t a perfect indicator, Google Flu Trends often beat government predictions about flu outbreaks by a week or more.”

The article and NPR radio segment “A New … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Euro Weakens As Germany Wins Late Night Discussion

Posted: 25 Mar 2011 06:22 AM PDT

Currency markets seem to be paying scant attention to news of a possible radiation leak ahead of the weekend after Japanese nuclear regulators said a reactor wall had cracked. The dollar is stronger to end the week although news of the possible radiation leak is surprisingly not causing concern for equity traders who continue to push U.S. equity futures higher. Meanwhile, the less cautious tone has coincided with a break to a fresh weekly high for the dollar against the yen. One might have … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Swiss Franc: Under Pressure

Posted: 25 Mar 2011 06:19 AM PDT

Update on supports and resistances. … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Japanese Yen: Under Pressure

Posted: 25 Mar 2011 06:19 AM PDT

Update on supports and resistances. … [visit site to read more] or compare Best Credit Cards and Best CD Rates

British Pound: Under Pressure

Posted: 25 Mar 2011 06:19 AM PDT

Update on supports and resistances. … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Euro: Capped By A Negative Trend Line

Posted: 25 Mar 2011 06:19 AM PDT

Update on supports and resistances. … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Euro Climbs Despite Portugal Downgrade

Posted: 25 Mar 2011 06:18 AM PDT

Today’s Idea
Although the Euro is still in the midst of an uptrend, the uncertainty surrounding the sovereign debt could set the start for increasing volatility in the coming days. Trend-following traders who wish to remain long the Euro but who are concerned about a potential reversal in prices may wish to explore a bull call ratio spread in Euro futures options. For example, with the June futures trading at 1.4164 as of this writing, a May Euro 1.42 call could be bought and 2 May 1.44 calls … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex Trading: AUDUSD Wanders Up To The 1.0255 High And Stalls

Posted: 25 Mar 2011 06:18 AM PDT

The bullish move in the AUDUSD continued today, wandering it's way to the 1.0255 high set on the last trading day of 2010.  The high today reached 1.0253 and profit takers sold.
The price is now down below the high of yesterday at 1.0227.  Yesterday, the price moved above resistant from the daily chart in between 1.0180 and 1.0200 (see daily chart above).  The pair is not falling out of bed, but there is some profit taking occurring.
The next level to get through … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Darden Beats On Strong Sales

Posted: 25 Mar 2011 06:10 AM PDT

Darden Restaurants Inc. (NYSE:DRI) posted third quarter 2011 earnings of $1.08 per share, beating the Zacks Consensus Estimate of $1.05 and showing a 13.7% growth year over year.   
Total revenue spiked 5.5% from the prior-year quarter to $1,976.8 million and also surpassed the Zacks Consensus Estimate of $1,969.0 million. Combined same store sales for the company's three core brands, Olive Garden, Red Lobster and LongHorn Steakhouse, rose 0.9% and fared better than the 0.1% … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Auxilium Strikes Deal In Japan

Posted: 25 Mar 2011 06:05 AM PDT

Auxilium Pharmaceuticals, Inc. (NASDAQ:AUXL) recently entered into an agreement for the development, commercialization and supply of Xiaflex in Japan. The company is collaborating with Japan's Asahi Kasei Pharma Corporation for Xiaflex for the treatment of Dupuytren’s Contracture and Peyronie’s disease. Asahi Kasei Pharma also has the right to first negotiation for the commercialization of Xiaflex for additional indications in Japan.
Terms of the Deal
Per the terms of the deal,  Auxilium … [visit site to read more] or compare Best Credit Cards and Best CD Rates

RIMM To Support Android

Posted: 25 Mar 2011 06:05 AM PDT

BlackBerry-maker, Research In Motion, Ltd., (NASDAQ:RIMM) is set to launch its much-hyped Wi-Fi-based PlayBook tablet on April 19, 2011 at more than 20,000 retail outlets across the US and Canada. PlayBookwill run on Research In Motion's own operating system called QNX and Google's (NASDAQ:GOOG) most popular Android operating system. Moreover, it will also support Java-based programming.
The PlayBook tablet supports more than 2,00,000 applications and also provide its buyers the option of accessing … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Real After-Tax Profits Reach New Record High In Q4

Posted: 25 Mar 2011 06:04 AM PDT

U.S. corporate profits reached a new record high in the fourth quarter 2010 at $1.25 trillion (at an annual rate), after taxes and adjustments for inventory valuation and capital consumption (see graph above, data here), according to today’s BEA report.  Compared to the third quarter, corporate profits increased by $39.5 billion last quarter, and that makes eight straight quarterly gains in profits going back to the first quarter of 2009.  From the cyclical bottom of $774 billion of … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex Trading: EURUSD Moves Lower. Looks To Test 61.8% Retracement.

Posted: 25 Mar 2011 06:00 AM PDT

The EURUSD started the week moving above the daily trendline (see chart above). This however, was reversed and when the price moved back below the topside trendline, the market used the trendline as resistance.
Looking at the hourly chart today, the price action has turned to the downside after yesterday's move back higher.  The price today moved below the 100 hour MA and is now below the 50% of the move up from yesterday's (and the weeks) low.  The price approaches the 61.8% of … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Before The Bell

Posted: 25 Mar 2011 06:00 AM PDT

03/25/11 The latest in news, commentary, and information on what’s moving the US equities markets prior to the NYSE opening … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – USD/CAD Up In European Trading Hours

Posted: 25 Mar 2011 06:00 AM PDT

Forex Pros – The U.S. Dollar was higher against the Canadian Dollar on Friday.

USD/CAD was trading at 0.9763, up 0.09% at time of writing.

The pair was likely to find support at 0.9732, Thursday's low, and resistance at 0.9845, Monday's high.

Meanwhile, the U.S. Dollar was up against the Euro and the British Pound, with EUR/USD shedding 0.42% to hit 1.4119 and GBP/USD falling 0.22% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

AUD/USD Completing Impulse Wave To Test Record High; Target Is 1.0415

Posted: 25 Mar 2011 05:54 AM PDT

Commodity Currencies in Reversals (3/23 Video)
AUD/USD

Short Term to Medium Term
- The AUD/USD is testing the 1.0255 record high. We are also completing an impulse wave as the RSI reaches above 70. At this level, we can expect some correction.
- The RSI breaking above 70 is a bullish sign for the medium term, but the near to short-term dynamic might be a correction to this overbought signal.
- From the current top, a 38.2% retracement targets 1.0070 area. There will also be the 200SMA here.
- … [visit site to read more] or compare Best Credit Cards and Best CD Rates

FDA Clears Endo’s Generic Drug

Posted: 25 Mar 2011 05:25 AM PDT

Recently, the US Food and Drug Administration (FDA) approved Endo Pharmaceuticals' (NASDAQ:ENDP) toresmide tablets, the generic version of Demadex, for treating edema patients associated with congestive cardiac failure, renal and hepatic diseases.
The drug has also been approved for treating hypertension as a monotherapy as well as a combination therapy. The US regulatory body has cleared toresmide tablets in strengths of 5 mg, 10 mg, 20 mg and 100 mg. The US approval of toresmide further … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Weekly Gold Update – Impulse Wave Complete With Bearish Divergence

Posted: 25 Mar 2011 05:22 AM PDT

Commodity Currencies in Reversal (3/23 Video)
Silver Targets 38.70, 39.85 (3/24)
Gold (XAU/USD)

Short to Medium Term
- Gold in the 4H chart shows a very apparent 5 wave rally complete.
- There is also a bearish divergence suggesting that there is some pause in momentum. This happens as the market broke above the 1445 record  high, establishing a fresh high 1447.50.
- As the market completed an impulse wave, it is likely we will see some correction before another attempt to truly break … [visit site to read more] or compare Best Credit Cards and Best CD Rates

4 Hour Shakeout Is Over (?)

Posted: 25 Mar 2011 05:19 AM PDT

This is a premarket view of the gold, silver and US Dollar landscape for today, Fri. March 25 through the lens of the True Strength Index (TSI) indicator.

Click on any chart to ENLARGE

Is yesterday’s 4 hour shakeout of the precious metals over?  Well, not sure, but it is looking very possible at this point.  Here are the continuous contract hourly charts of gold, silver and the US Dollar.  This question could be answered affirmatively in the next few hours.

The HUI mining … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – EUR/GBP Up During The European Session

Posted: 25 Mar 2011 05:00 AM PDT

Forex Pros – The Euro was higher against the British Pound on Friday.

EUR/GBP was trading at 0.8794, up 0.001% at time of writing.

The pair was likely to find support at 0.8655, Wednesday's low, and resistance at 0.8811, today's high.

Meanwhile, the Euro was down against the U.S. Dollar and up against the Japanese Yen, with EUR/USD shedding 0.13% to hit 1.4160 and EUR/JPY rising 0.17% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – GBP/CHF Up In European Trade

Posted: 25 Mar 2011 04:30 AM PDT

Forex Pros – The British Pound was higher against the Swiss Franc on Friday.

GBP/CHF was trading at 1.4688, up 0.27% at time of writing.

The pair was likely to find support at 1.4590, Thursday's low, and resistance at 1.4826, Tuesday's high.

Meanwhile, the British Pound was down against the U.S. Dollar and the Euro, with GBP/USD shedding 0.18% to hit 1.6093 and EUR/GBP rising 0.13% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

German Ifo Business Climate Falls Less-than-expected

Posted: 25 Mar 2011 04:25 AM PDT

Forex Pros – Germany's Ifo business climate fell less-than-expected last month, data showed on Friday.

In a report, the Ifo Institute for Economic Research said its index of German business climate fell to 111.10, from 111.30 in the preceding month whose figure was revised up from 111.20.

Analysts had expected the index to fall to 110.60 last … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Russell Withdraws Active ETF Application, Terminates Trust

Posted: 25 Mar 2011 04:00 AM PDT

On March 17th, Russell Investments made a filing with the SEC requesting to withdraw their application for fund relief necessary to launch actively-managed ETFs through the Russell ETF Trust. This application was first filed with the SEC in January 2010 and Russell became one of the many issuers that didn't see much progress on their application. Now, that application is being withdrawn because the Russell ETF Trust is itself being terminated.
This filing comes just as Russell starts bringing … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – AUD/USD Up In European Trading Hours

Posted: 25 Mar 2011 04:00 AM PDT

Forex Pros – The Australian Dollar was higher against the U.S. Dollar on Friday.

AUD/USD was trading at 1.0241, up 0.29% at time of writing.

The pair was likely to find support at 0.9953, Monday's low, and resistance at 1.0254, today's high.

Meanwhile, the Australian Dollar was up against the Euro and the Japanese Yen, with EUR/AUD shedding 0.40% to hit 1.3828 and AUD/JPY rising 0.67% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Forex – USD/CHF Up During The European Session

Posted: 25 Mar 2011 03:20 AM PDT

Forex Pros – The U.S. Dollar was higher against the Swiss Franc on Friday.

USD/CHF was trading at 0.9128, up 0.47% at time of writing.

The pair was likely to find support at 0.8980, Wednesday's low, and resistance at 0.9154, today's high.

Meanwhile, the U.S. Dollar was up against the Euro and the Japanese Yen, with EUR/USD shedding 0.04% to hit 1.4173 and USD/JPY rising 0.39% to hit … [visit site to read more] or compare Best Credit Cards and Best CD Rates

Morning News Notes: 3.24.11

Posted: 24 Mar 2011 07:42 AM PDT

The morning news notes as prepared by TL…the deficit is a severe threat, Portugal, Utah backs gold as currency, Treasury on repatriation of international profits, California budget mess, social networking start ups and venture capital, German elections, China and monetary policy, and Libya.

 
 ”Morning News Notes: March 24, 2011″

click … [visit site to read more] or compare Best Credit Cards and Best CD Rates
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