DailyMarkets.com - Forex Trading: USD/CAD Testing 200 Hour Moving Average

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• Forex Trading: USD/CAD Testing 200 Hour Moving Average
• Forex – Dollar Higher Vs. Rivals In Risk-off Trade
• European Stocks Lower On Debt Concerns; DAX Down 0.59%
• Crude Oil Futures Decline On China GDP, Euro Zone Woes
• German ZEW Economic Sentiment Down More-than-expected
• Forex – GBP/USD Hits 3-day Low After U.K. Inflation Data
• Bank Of Botswana Holds Bank Rate At 9.50%
• Forex – Dollar Steady Against Yen As Risk Appetite Wanes
• U.K. Consumer Price Inflation Rises More-than-expected
• Gold Futures Slump As Euro Zone Concerns Linger
• Forex – NZD/USD Drops To 4-day Low On E.Z. Debt Fears
• Forex – AUD/USD Lower On Sustained E.Z. Pessimism
• Asia Stocks Tumble On EU, China Concerns; Nikkei Drops 1.55%
• Forex Trading: EUR/USD Surpasses Previous Downside Target Of 1.37241.
• Forex – EUR/USD Hits 3-day Low As Debt Plan Hopes Recede
• Chinese Q3 GDP Slows More-than-expected
• Australian Dollar Wyckoff 2.0 Review
• Bear Of The Day: The Goldman Sachs Group (GS)
• Momentum Stock: Celgene Corp
• Aggressive Growth Stock: Omega Protein Corp
• Bull Of The Day: UnitedHealth Group (UNH)
• Growth & Income Stock: The Home Depot, Inc.
• Forex – EUR/USD Up During The Asian Session
• Forex – GBP/USD Up In Asian Trade
• Bulls Hanging By A Thread
• Forex Trading: Usd/hkd Being Supported By The 100 Week MV
• Forex – Dollar Retreats In Mid-day Asian Trade
• Dow Rejected At 11,650; More Selling Ahead
• Forex – USD/JPY Inches Down In Mid-day Asian Trade
• Asian Stocks Decline In Early Trade; Nikkei Loses 1.4%
• Forex – AUD/USD Gains In Early Asian Trade
• Crude Oil Declines In Early Asian Trade
• Markets In Everything: Police Lineup Casting
• Gold Posts Marginal Gains In Early Asian Trade
• Daily FTSE Technical Update
• A Framework For Assessing A Eurozone Rescue

Forex Trading: USD/CAD Testing 200 Hour Moving Average Posted: 18 Oct 2011 03:32 AM PDT Following some less than bullish comments from EU's Rehn and Nouriel Roubini, the USD has gained some strength in recent trading. Currently USD/CAD is testing resistance at the 200 hour moving average after breaking out of a downward channel to the topside. Continued USD buying could see the pair at 1.02713; a full retracement on the move from Oct 13th high to yesterday's … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – Dollar Higher Vs. Rivals In Risk-off Trade Posted: 18 Oct 2011 03:01 AM PDT Forexpros – The U.S. dollar was higher against its major counterparts on Tuesday, as concerns over the handling of the debt crisis in the euro zone curbed demand for riskier assets. During European morning trade, the greenback was up against the euro, with EUR/USD shedding 0.46% to hit 1.3680. The single currency was weighed after Germany’s finance minister said on Monday that European leaders would not be able to present a definitive solution to the region’s debt crisis by the October 23 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

European Stocks Lower On Debt Concerns; DAX Down 0.59% Posted: 18 Oct 2011 02:41 AM PDT Forexpros – European stock markets were lower on Tuesday, as investors remained cautious after Germany’s finance minister dampened hopes of a new plan to handle the debt crisis in the euro zone. During European morning trade, the EURO STOXX 50 fell 1.29%, France's CAC 40 dropped 1.87%, while Germany's DAX 30 shed 0.59%. Market sentiment was hit on Monday, after German finance minister said that the next European summit scheduled on October 23 would not result in a definitive solution to … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Crude Oil Futures Decline On China GDP, Euro Zone Woes Posted: 18 Oct 2011 02:30 AM PDT Forexpros – Crude oil futures were down for a second day on Tuesday, as data showing China's economy grew at the slowest pace in two years and ongoing concerns over the debt crisis in the euro zone weighed on riskier assets. On the New York Mercantile Exchange, light, sweet crude futures for delivery in December traded at USD86.14 a barrel during European morning trade, dropping 0.55%. It earlier fell by as much as 0.95% to trade at USD85.77 a barrel, the lowest price since October … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

German ZEW Economic Sentiment Down More-than-expected Posted: 18 Oct 2011 02:10 AM PDT Forexpros – German economic sentiment deteriorated more-than-expected in October, declining for the eighth consecutive month as the ongoing sovereign debt crisis in the euro zone continued to weigh on sentiment, industry data showed on Tuesday. In a report, the ZEW Centre for Economic Research said that its index of German economic sentiment fell by 5.0 points to minus 48.3 October from a reading of minus 43.3 in September. Analysts had expected the index to decline to minus 45.0 in … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – GBP/USD Hits 3-day Low After U.K. Inflation Data Posted: 18 Oct 2011 02:07 AM PDT Forexpros – The pound fell to a three-day low against the U.S. dollar on Tuesday, after data showing that the rate of inflation in the U.K. hit a three-year high in September added to concerns over slowing economic growth. GBP/USD hit 1.5710 during European morning trade, the pair’s lowest since October 13; the pair subsequently consolidated at 1.5714, shedding 0.18%. Cable was likely to find support at 1.5664, the low of October 13 and resistance at 1.5820, the days high. The Office for … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Bank Of Botswana Holds Bank Rate At 9.50% Posted: 18 Oct 2011 01:54 AM PDT The Bank of Botswana’s Monetary Policy Committee held the benchmark interest rate unchanged at 9.50%.  The Bank said: “While short-term price developments have resulted in inflation remaining above the objective range of 3 – 6 percent, the medium-term outlook for consumer prices is more encouraging. As a result, the Committee judged that maintaining the Bank Rate at the current level is consistent with inflation converging on the objective range in the medium term.” Previously … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – Dollar Steady Against Yen As Risk Appetite Wanes Posted: 18 Oct 2011 01:40 AM PDT Forexpros – The U.S. dollar was almost unchanged against the yen on Tuesday, as hopes for a quick solution to the debt crisis in the euro zone ebbed, while data showing that growth in China moderated also supported safe haven demand. USD/JPY hit 76.73 during late Asian trade, the daily low; the pair subsequently consolidated at 76.82, dipping 0.01%. The pair was likely to find support at 76.30, the low of October 12 and a two-week low and short-term resistance at 76.97, the high of October … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.K. Consumer Price Inflation Rises More-than-expected Posted: 18 Oct 2011 01:36 AM PDT Forexpros – Consumer price inflation in the U.K. rose more-than-expected in September, matching a record high hit in September 2008, official data showed on Tuesday. In a report, the U.K. Office for National Statistics said the rate of consumer price inflation accelerated to 5.2% in September from 4.5% in August. Analysts had expected U.K. consumer prices to rise at a rate of 4.9% in September, Month-over-month, consumer price inflation rose 0.6%, above expectations for a 0.4% … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Gold Futures Slump As Euro Zone Concerns Linger Posted: 18 Oct 2011 01:29 AM PDT Forexpros – Gold futures were down for a second day on Tuesday, tracking other commodities lower amid lingering concerns over the euro zone's sovereign debt crisis. On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at USD1,664.15 a troy ounce during late Asian trade, dropping 0.74%. It earlier fell by as much as 0.97% to trade at USD1,660.85 a troy ounce, the lowest price since October 13. Hopes for a comprehensive solution to the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – NZD/USD Drops To 4-day Low On E.Z. Debt Fears Posted: 18 Oct 2011 01:26 AM PDT Forexpros – The New Zealand dollar dropped to a four-day low against its U.S. counterpart on Tuesday, as pessimism over the handling of the debt crisis in the euro zone weighed on demand for riskier assets. NZD/USD hit 0.7872 during late Asian trade, the pair’s lowest since October 12; the pair subsequently consolidated at 0.7887, falling 0.32%. The pair was likely to find support at 0.7760, the low of October 11 and resistance at 0.8056, the high of October 14. Risk appetite was dampened … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – AUD/USD Lower On Sustained E.Z. Pessimism Posted: 18 Oct 2011 01:02 AM PDT Forexpros – The Australian dollar was down against its U.S. counterpart on Tuesday, hitting a three-day low as investors remained cautious after hopes for a new plan to solve the euro zone debt crisis were dampened. AUD/USD hit 1.0130 during late Asian trade, the pair’s lowest since October 13; the pair subsequently consolidated at 1.0154, inching down 0.01%. The pair was likely to find support at 1.0032, the low of September 21 and resistance at 1.0397, the high of September 16. Market … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Asia Stocks Tumble On EU, China Concerns; Nikkei Drops 1.55% Posted: 18 Oct 2011 12:50 AM PDT Forexpros – Asian stock markets tumbled on Tuesday, tracking sharp overnight losses from Wall Street, as ongoing concerns over the euro zone's sovereign debt crisis and data showing that China's economy grew at the slowest pace in two years weighed on sentiment. During late Asian trade, Hong Kong’s Hang Seng Index plunged 4.7%, Australia's ASX/200 Index tumbled 2.1%, while Japan's Nikkei 225 Index dropped 1.55% higher. Earlier in the day, official data showed that China's economy … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: EUR/USD Surpasses Previous Downside Target Of 1.37241. Posted: 18 Oct 2011 12:32 AM PDT With European equities opening lower, and comments from Moody's regarding a poor outlooking for France's credit rating, the pair continued lower through the previously stated bearish target of 1.37241. For the next possible target we look to the hourly chart. The 61.8% line on the move from Oct 11th lows to yesterday's high is the next level in … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/USD Hits 3-day Low As Debt Plan Hopes Recede Posted: 18 Oct 2011 12:31 AM PDT Forexpros – The euro was down against the U.S. dollar for a second day on Tuesday, as expectations for a breakthrough in resolving the euro zone debt crisis at an upcoming summit receded, while data showing that growth in China slowed also weighed on sentiment. EUR/USD hit 1.3688 during late Asian trade, the pair's lowest since October 13; the pair subsequently consolidated at 1.3691, shedding 0.31%. The pair was likely to find support at 1.3582, the low of October 12 and resistance at … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Chinese Q3 GDP Slows More-than-expected Posted: 18 Oct 2011 12:26 AM PDT Forexpros – China's economy slowed more-than-expected in the third quarter of 2011, growing at the slowest pace in two years, official data showed on Tuesday. In a report, China's National Bureau of Statistics said gross domestic product rose at an annualized rate of 9.1% in the third quarter, slowing from growth of 9.5% in the preceding quarter. Analysts had expected China's economy to grow at a rate of 9.2% in the third quarter. The economy expanded by 2.3% in the third quarter … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Australian Dollar Wyckoff 2.0 Review Posted: 18 Oct 2011 12:20 AM PDT Let’s review the Aussie dollar ETF (FXA) with Hurst cycles, Gann Angles and Wyckoff phase analysis, we call this Wyckoff 2.0 review. Readers of the blog have seen the long term cycle of the Aussie dollar ETF many times. The cycle clearly told us to expect a cycle top mid 2011. Check: Done ! (subject to QE3,4,5). To profit from the expected price reversal look more closely at price action. This is how the Wyckoff phase analysis looks to us. We have added a short term Hurst dominant cycle … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Bear Of The Day: The Goldman Sachs Group (GS) Posted: 17 Oct 2011 11:00 PM PDT We are downgrading our recommendation on Goldman Sachs (NYSE:GS) to Underperform from Neutral based on current general economic conditions and the company’s involvement in a number of lawsuits. Previous quarter earnings results deteriorated, owing to decreased revenue and poor performance at Institutional Client Services division, coupled with global macro-economic concerns. Regulatory issues, including lawsuits filed against the company, might dent the company’s financials in the upcoming … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Momentum Stock: Celgene Corp Posted: 17 Oct 2011 11:00 PM PDT Celgene Corp (CELG) is fresh off the heels of a new multi-year high, rebounding sharply after shares fell with the market in early August. With estimates on the rise and a bullish growth projection, this Zacks #1 Rank stock is showing some nice upward momentum. Company Description Celgene Corp is a biopharmaceutical company that specializes in cancer and antiinflamatory diseases. The company was founded in 1980 and has a market cap of $29 billion. Celgene is one of the few stocks that has … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Aggressive Growth Stock: Omega Protein Corp Posted: 17 Oct 2011 11:00 PM PDT Omega Protein Corp (NYSE:OME) is seeing steady upward estimates revisions after its latest earnings surprise. The results ended a streak of misses and could be a sign that this Zacks #1 Rank (Strong Buy) is set for a nice run. Company Description Omega Protein is a nutritional ingredient company, producing omega-3 fish oil and specialty fish meal products. Healthy Growth Rates Estimates for Omega Protein have been up nicely in recent months, with this year’s Zacks Consensus Estimate up 6 cents, to … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Bull Of The Day: UnitedHealth Group (UNH) Posted: 17 Oct 2011 11:00 PM PDT We are upgrading our recommendation on UnitedHealth Group (NYSE:UNH) to Outperform from Neutral as we believe the company will beat consensus estimates helped by lower medical utilization since both Medicare and Commercial cost trends remain at historical lows. The company’s health benefits business UnitedHealthcare is performing strongly with its reputable service, value and innovation of affordable benefit products, combined with balanced and trusted local market engagements. The unit has … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Growth & Income Stock: The Home Depot, Inc. Posted: 17 Oct 2011 11:00 PM PDT Despite a weak housing market, The Home Depot, Inc. (NYSE:HD) continues to deliver better than expected results. The world’s largest home improvement retailer reported second quarter earnings per share 5% ahead of the Zacks Consensus Estimate driven by solid same-store sales growth. Management raised its earnings guidance for the remainder of 2011 following the strong quarter. This prompted analysts to revise their estimates higher too, sending the stock to a Zacks #2 Rank (Buy). The company also … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/USD Up During The Asian Session Posted: 17 Oct 2011 10:55 PM PDT Forexpros – The Euro was higher against the U.S. Dollar on Tuesday. EUR/USD was trading at 1.3770, up 0.24% at time of writing. The pair was likely to find support at 1.3685, Thursday's low, and resistance at 1.3914, Monday's high. Meanwhile, the Euro was down against the British Pound and up against the Japanese Yen, with EUR/GBP shedding 0.17% to hit 0.8711 and EUR/JPY rising 0.25% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – GBP/USD Up In Asian Trade Posted: 17 Oct 2011 10:25 PM PDT Forexpros – The British Pound was higher against the U.S. Dollar on Tuesday. GBP/USD was trading at 1.5802, up 0.37% at time of writing. The pair was likely to find support at 1.5667, Thursday's low, and resistance at 1.5853, Friday's high. Meanwhile, the British Pound was up against the Euro and the Japanese Yen, with EUR/GBP shedding 0.09% to hit 0.8718 and GBP/JPY rising 0.37% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Bulls Hanging By A Thread Posted: 17 Oct 2011 10:06 PM PDT The bears suffered a face-ripper rally over the last couple weeks during the biggest short term rally the market has seen all year.  When looking at why this rally occurred, it was evident by many indicators that pessimism was still at high levels as the market attempted to breakdown on October 4th.  With pessimism too high on a market that hadn't really worked off its' oversold condition, the market was able to reverse sharply and fake out the bears on the downside. First, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: Usd/hkd Being Supported By The 100 Week MV Posted: 17 Oct 2011 08:33 PM PDT usd/hkd being supported by the 100 week moving … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – Dollar Retreats In Mid-day Asian Trade Posted: 17 Oct 2011 08:14 PM PDT Forexpros – Forexpros – The U.S. dollar moved lower against its major counterparts in Asian trade Tuesday, as dealers took a dim view of comments by German officials regarding the upcoming meeting of European officials and the prospects for action on the euro-zone's debt crisis. In mid-day Asian trade, the greenback was down against the euro, with EUR/USD rising 0.17% to hit 1.3760. On Monday, German Chancellor Angela Merkel's spokesman Steffen Seibert dashed market hopes for an … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Dow Rejected At 11,650; More Selling Ahead Posted: 17 Oct 2011 07:56 PM PDT The mini Dow futures contract was rejected at significant resistance at 11,650 today, which triggered a heavy sell-off throughout the session. Recent history indicates more downside could be seen… Resistance at 11,650 The daily chart shows the mini Dow futures contract ($YM_F) was sternly rejected at the 11,650 resistance level early in the session, which led to a session-long sell-off. Today's 247-point decline could be just a drop in the bucket, as the last time the Dow reacted to this … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – USD/JPY Inches Down In Mid-day Asian Trade Posted: 17 Oct 2011 07:38 PM PDT Forexpros – Forexpros – The U.S. dollar edged lower against the Japanese yen in Asian trade Tuesday, on ongoing uncertainty surrounding the upcoming meeting of European finance officials and the prospects for action on the euro-zone's debt crisis. In mid-day Asian trade USD/JPY hit 76.79, the pair's lowest since Monday; the pair subsequently consolidated at 76.81, inching down 0.02%. The pair was likely to find support at 76.10, the low of September 22, and resistance at 77.49, last … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Asian Stocks Decline In Early Trade; Nikkei Loses 1.4% Posted: 17 Oct 2011 07:14 PM PDT Forexpros – Forexpros – Asian stocks moved lower in Tuesday trade, following suggestions by German officials that new action on Europe's sovereign debt crisis may not be ready by next week's scheduled meeting. During early Asian trade, Hong Kong's Hang Seng Index declined 2.67% to 18,369.20, Japan's Nikkei Index fell 1.42% to 8,753.08, while Australia's S&P/ASX 200 retreated 1.74% to 4,200.80. The Topix Index of all shares listed on the first section of the Tokyo Stock … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – AUD/USD Gains In Early Asian Trade Posted: 17 Oct 2011 06:30 PM PDT Forexpros – Forexpros – The Australian dollar moved higher against the U.S. dollar Tuesday, following a downturn on Wall Street and suggestions from Germany that a solution to Europe's ongoing debt crisis remained elusive. AUD/USD hit 1.0203 in early Asian trade, the pair's highest since Monday; the pair subsequently consolidated at 1.0187, adding 0.31%. The pair was likely to find support at 0.9906, last Thursday's low, and short-term resistance at 1.0416, the high of September … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Crude Oil Declines In Early Asian Trade Posted: 17 Oct 2011 05:53 PM PDT Forexpros – Forexpros – Crude oil futures retreated from a one month high in Asian trade Tuesday, on comments from German officials suggesting that a scheduled euro-zone meeting on the region's debt crisis won't likely result in a speedy resolution. On the New York Mercantile Exchange light, sweet crude futures for November delivery traded at USD86.44 a barrel during early Asian trade, falling 0.14%, after hitting a daily high of USD86.58. On Monday, German Chancellor Angela Merkel's … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Markets In Everything: Police Lineup Casting Posted: 17 Oct 2011 05:32 PM PDT For $10, A Bronx “Casting Director for Police Lineups” Will Find the Guys Who Didn't Do It New York Times — “He is one of New York's busiest casting directors, yet very few know of his work. For some 15 years, Robert Weston has been providing the New York Police Department with "fillers" — the five decoys who accompany the suspect in police lineups.” “Detectives often find fillers on their own, combing homeless shelters and street corners for willing participants. In a pinch, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Gold Posts Marginal Gains In Early Asian Trade Posted: 17 Oct 2011 05:16 PM PDT Forexpros – Forexpros – Gold futures moved fractionally higher in Asian trade Tuesday, after German officials expressed reservations about an upcoming euro-zone meeting's potential for bringing an end to the two-year old European debt crisis. On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at USD1,674.45 a troy ounce during early Asian trade, climbing 0.11%, after hitting a low of USDS1,669.15. On Monday, German Chancellor Angela … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Daily FTSE Technical Update Posted: 17 Oct 2011 09:32 AM PDT By ForexMansion.com by, James A. Hyerczyk The FTSE 100 fell sharply on Monday as the market posted a technical closing price reversal top. This occurs following a prolonged move up in terms of price and time when the market trades higher then closes lower for the session. The pattern typically indicates the start of a 2 to 3 day break of 50 percent or more of the last rally. Based on the current range of 5405.20 to 5543.72, expectations are for the market to retrace 50 to 61.8 percent of this … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

A Framework For Assessing A Eurozone Rescue Posted: 17 Oct 2011 12:42 AM PDT As we approach the October 23 eurozone summit, there will lots of news, leaks and trial balloons. To cut through the noise, here is a framework for assessing the credibility of any rescue plan. In the long term, either: Greece and the rest of southern Europe will have to become more competitive. The obvious answer is currency devaluation. This means leaving the eurozone, either as a bloc to form a southern and softer euro, or individually (which could mean leaving the EU altogether). The … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

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