DailyMarkets.com - Forex Trading: EUR/CHF Testing Downward Trend Line Resistance

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• Forex Trading: EUR/CHF Testing Downward Trend Line Resistance
• European Stocks Drop On Debt Plan Concerns; DAX Tumbles 3.87%
• U.K. GDP Rises More-than-expected In Q3
• Forex – Dollar Broadly Higher On Fresh Euro Zone Fears
• U.K. Manufacturing PMI Falls To 28-month Low In October
• Forex Trading: Euro Continues To Slide After The Greek Government Is Considering Holding A Referendum On The Recently Announced Deal On Sovereign Debt.
• Crude Oil Futures Tumble As China, Euro Zone Fears Weigh
• Forex – GBP/USD Hits 3-day Low As U.K. GDP Data On Tap
• Gold Futures Edge Lower On Dollar Strength, EU Fears Support
• A Technical Look On The Dow Jones Industrial Average (DJIA)
• Forex – USD/JPY Steady Amid Caution Over More Intervention
• Swiss SVME PMI Falls More-than-expected In October
• Forex – NZD/USD Down On Renewed E.Z. Concerns
• U.K. Nationwide HPI Rises More-than-expected
• Asia Stocks Drop On China, EU Concerns; Nikkei Down 1.7%
• Forex – AUD/USD Falls To 3-day Low After RBA Rate Decision
• Forex – EUR/USD Drops To 7-day Low Amid Fresh Debt Worries
• Reserve Bank Of Australia Cuts Benchmark Interest Rate
• Forex Trading: EUR/USD Completes Hourly Retracement
• Forex Trading: USD/CHF Testing 200 Hour Moving Average
• Bull Of The Day: Questar Corporation (STR)
• Bear Of The Day: Human Genome Sciences (HGSI)
• Momentum Stock: Advance America Cash Advance Centers, Inc.
• Growth & Income Stock: Caterpillar Inc.
• Aggressive Growth Stock: Arctic Cat, Inc
• Forex – EUR/USD Down During The Asian Session
• Forex – GBP/USD Down In Asian Trade
• Ending The Postal Monopoly: Lessons From Europe; Germany Has Sold 99.9% Of Its Post Office Buildings
• Price-Gouging Vendors Vs. Taxpayer-Gouging Public Schools
• Australia Central Bank Cuts Rate 25bps To 4.50%
• Market Undergoes Correction Ahead Of Big Events This Week
• Daily FTSE Technical Update
• Daily Indices Update: AUSTRALIA 200 (AUS200)

Forex Trading: EUR/CHF Testing Downward Trend Line Resistance Posted: 01 Nov 2011 03:33 AM PDT Over the past hour and a half we have seen some rebounding in the euro with the EUR/CHF testing resistance around 1.2191 where we find both the 50.0% retracement line on the last hourly move and trend line resistance which has been developing since October 20th. If resistance holds we look to 1.21648 at the downside target; a close above the trend line/50.0% could signal continued upward … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

European Stocks Drop On Debt Plan Concerns; DAX Tumbles 3.87% Posted: 01 Nov 2011 03:01 AM PDT Forexpros – European stock markets were sharply lower on Tuesday, as fresh concerns over the handling of the debt crisis in the euro zone weighed on market sentiment. During European morning trade, the EURO STOXX 50 plummeted 3.89%, France's CAC 40 tumbled 3.64%, while Germany's DAX 30 declined 3.87%. Market sentiment was hit by uncertainty over how the package of anti-crisis measures agreed on at last Thursday's European Union summit could be implemented. Meanwhile, reports that … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.K. GDP Rises More-than-expected In Q3 Posted: 01 Nov 2011 02:47 AM PDT Forexpros – The U.K. economy grew more-than-expected in the third quarter of 2011, preliminary official data showed on Tuesday. In a report, the Office for National Statistics said gross domestic product increased by a seasonally adjusted 0.5% in the third quarter, accelerating from growth of 0.1% in the preceding quarter. Year-over-year, the U.K. economy grew at an annualized rate of 0.5% in the third quarter, beating expectations for a 0.4% gain. The U.K. economy grew at an annualized … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – Dollar Broadly Higher On Fresh Euro Zone Fears Posted: 01 Nov 2011 02:43 AM PDT Forexpros – The U.S. dollar posted strong gains against almost all of its major counterparts on Tuesday, as fresh concerns over the debt crisis in the euro zone bolstered safe haven demand. During European morning trade, the dollar was higher against the euro, with EUR/USD tumbling 0.90% to hit 1.3733. Sentiment on the single currency was hit by uncertainty over how a package of measures to contain the debt crisis in the euro zone, agreed on at last Thursday's European Union summit, could … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.K. Manufacturing PMI Falls To 28-month Low In October Posted: 01 Nov 2011 02:38 AM PDT Forexpros – Manufacturing activity in the U.K. fell more-than-expected in October, dropping to a 28-month low, official data showed on Tuesday. In a report, market research group Markit said that its U.K. manufacturing PMI fell to a seasonally adjusted 47.4 in October, down from a reading of 50.8 in September, whose figure was revised down from 51.1. Analysts had expected the manufacturing PMI to decline to 50.0 in October. On the index, a reading above 50.0 indicates industry expansion, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: Euro Continues To Slide After The Greek Government Is Considering Holding A Referendum On The Recently Announced Deal On Sovereign Debt. Posted: 01 Nov 2011 02:33 AM PDT European financial stocks are down 3.6% in early trading, the Euro Stoxx 5o index is currently down … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Crude Oil Futures Tumble As China, Euro Zone Fears Weigh Posted: 01 Nov 2011 02:32 AM PDT Forexpros – Crude oil futures were down for a third day on Tuesday, after data pointed to a slowdown in Chinese manufacturing activity in October and amid renewed concerns over the euro zone's debt crisis. On the New York Mercantile Exchange, light, sweet crude futures for delivery in December traded at USD91.35 a barrel during European morning trade, tumbling 1.97%. It earlier fell by as much as 2.18% to trade at USD91.16 a barrel, the lowest price since October 27. Market sentiment was … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – GBP/USD Hits 3-day Low As U.K. GDP Data On Tap Posted: 01 Nov 2011 02:07 AM PDT Forexpros – The pound fell to a three-day low against the U.S. dollar on Tuesday, tracking the euro's losses as renewed concerns over the debt crisis in the euro zone weighed on demand for higher yielding assets. GBP/USD hit 1.5963 during European morning trade, the pair's lowest since October 27; the pair subsequently consolidated at 1.5977, shedding 0.67%. Cable was likely to find support at 1.5890, the low of October 26 and resistance at 1.6092, the days high. Sentiment on the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Gold Futures Edge Lower On Dollar Strength, EU Fears Support Posted: 01 Nov 2011 01:51 AM PDT Forexpros – Gold futures edged lower on Tuesday, as a broadly stronger U.S. dollar pressured prices, but losses were limited amid renewed concerns over the debt crisis in the euro zone. On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at USD1,712.05 a troy ounce during European morning trade, dropping 0.76%. It earlier fell by as much as 0.97% to trade at a daily low of USD1,709.25 a troy ounce. Gold's losses came as the dollar index, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

A Technical Look On The Dow Jones Industrial Average (DJIA) Posted: 01 Nov 2011 01:44 AM PDT Happy Halloween everyone! I don't want to scare you or anything but it seems that there could be another blood bath in the US market at least from a technical perspective. Let's now take a look at the Dow Jones Industrial Average (DJIA). As you can see from its chart above, the ^DJI or simply the Dow had already broken down from a bearish head and shoulders formation and more importantly from its long term uptrend line. A combination of weakening US economic data, US debt problem and the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – USD/JPY Steady Amid Caution Over More Intervention Posted: 01 Nov 2011 01:35 AM PDT Forexpros – The U.S. dollar was steady against the yen on Tuesday, having pulled away from Monday's three-month peak as investors remained cautious over the prospect of further action by Japan to weaken the yen. USD/JPY hit 78.02 during late Asian trade, the daily low; the pair subsequently consolidated at 78.10, dipping 0.07%. The pair was likely to find support at 77.70, the high of September 7 and resistance at 78.98, the days high. Risk appetite was hit by uncertainty over how a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Swiss SVME PMI Falls More-than-expected In October Posted: 01 Nov 2011 01:34 AM PDT Forexpros – Manufacturing activity in Switzerland fell more-than-expected in October, dropping further into contraction territory, industry data showed on Tuesday. In a report, the Swiss SVME purchasing managers’ association and Credit Suisse said that its purchasing managers' index declined to a seasonally adjusted 46.9 in October from 48.2 in September. Analysts had expected the index to decline to 47.7 in October. On the index, a reading above 50.0 indicates expansion, below indicates … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – NZD/USD Down On Renewed E.Z. Concerns Posted: 01 Nov 2011 01:15 AM PDT Forexpros – The New Zealand dollar was down against its U.S. counterpart on Monday, falling to a three-day low as renewed concerns over the debt crisis in the euro zone dampened risk appetite. NZD/USD hit 0.8004 during late Asian trade, the pair’s lowest since October 27; the pair subsequently consolidated at 0.8010, shedding 0.71%. The pair was likely to find support at 0.7913, the low of October 26 and resistance at 0.8193, the high of June 22. Market sentiment was hit by uncertainty … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.K. Nationwide HPI Rises More-than-expected Posted: 01 Nov 2011 01:09 AM PDT Forexpros – U.K. house prices rose more-than-expected in October, industry data showed on Tuesday. In a report, U.K. mortgage lender Nationwide said its house price index rose 0.4% in October, beating expectations for a 0.1% gain. U.K. house prices rose by an unrevised 0.1% in September. Year-on-year, home prices in the U.K. rose at an annualized rate of 0.8% in October, after declining by 0.3% in the preceding month. Commenting on the report, Nationwide’s chief economist Robert Gardner … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Asia Stocks Drop On China, EU Concerns; Nikkei Down 1.7% Posted: 01 Nov 2011 12:58 AM PDT Forexpros – Asian stock markets were broadly lower on Tuesday, after data pointed to a slowdown in Chinese manufacturing activity in October and amid renewed concerns over the debt crisis in the euro zone. During late Asian trade, Hong Kong’s Hang Seng Index tumbled 2.5%, Australia's ASX/200 Index dropped 1.5%, while Japan's Nikkei 225 Index fell 1.7%. Market sentiment was weighed after Greek Prime Minister George Papandreou reportedly said that a referendum will be held on the latest … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – AUD/USD Falls To 3-day Low After RBA Rate Decision Posted: 01 Nov 2011 12:46 AM PDT Forexpros – The Australian dollar tumbled to a three-day low against its U.S. counterpart on Tuesday, after the Reserve Bank of Australia decided to lower its interest rate for the first time since early 2009. AUD/USD hit 1.0567 during late Asian trade, the pair’s lowest since October 27; the pair subsequently consolidated at 1.0401, dropping 1.22%. The pair was likely to find support at 1.0202, the low of October 21 and resistance at 1.0634, the high of September 9. The Aussie came under … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/USD Drops To 7-day Low Amid Fresh Debt Worries Posted: 01 Nov 2011 12:34 AM PDT Forexpros – The euro fell to a seven-day low against the broadly stronger U.S. dollar on Tuesday, amid fresh concerns over a plan to contain the debt crisis in the single currency bloc. EUR/USD hit 1.3747 during late Asian trade, the pair's lowest since October 21; the pair subsequently consolidated at 1.3765, shedding 0.66%. The pair was likely to find support at 1.3655, the low of October 20 and resistance at 1.3870, the days high. The euro was hit by uncertainty over how the package … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Reserve Bank Of Australia Cuts Benchmark Interest Rate Posted: 01 Nov 2011 12:24 AM PDT Forexpros – The Reserve Bank of Australia cut its benchmark interest rate for the first time since April 2009, as slowing global growth threatens the nation's economy, it announced on Tuesday. In a statement, the RBA said it was lowering its benchmark interest rat to 4.50% from 4.75%. Analysts had expected the RBA to leave rates steady at 4.75%. In its accompanying rate statement, the RBA said, "With overall growth moderate, inflation now likely to be close to target and confidence … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: EUR/USD Completes Hourly Retracement Posted: 31 Oct 2011 11:34 PM PDT The USD has gained a little strength in recent trading with the EUR/USD coming off close to 60 pips in the last hour. On the hourly chart you can see that the pair has completed a full retracement of the move from October 26th lows to the high on the 27th. The pair hasn't been able to make a swift move down through the level; we may see possible support … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: USD/CHF Testing 200 Hour Moving Average Posted: 31 Oct 2011 11:34 PM PDT We're still seeing some risk aversion; USD/CHF testing resistance at the 200 hour moving average. If resistance holds, we look back down to the 61.8% line, but continued dollar strength may see us through the .8800 handle and towards a full … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Bull Of The Day: Questar Corporation (STR) Posted: 31 Oct 2011 11:00 PM PDT Buoyed by robust operating results and an enhanced guidance by management, we are upgrading Questar Corp. (NYSE:STR) to Outperform from Neutral. We believe the company will be able to generate meaningful earnings and dividend growth in the coming years through strong operational performances by its business units. Other positives in the Questar story include its sole emphasis on natural gas markets, its focus on long-term contracts and the efficient managerial team. Ongoing gains from cost cutting … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Bear Of The Day: Human Genome Sciences (HGSI) Posted: 31 Oct 2011 11:00 PM PDT We are downgrading Human Genome Sciences Inc. (NASDAQ:HGSI) to Underperform from Neutral following the disappointing third quarter 2011 results reported by the company. The company suffered a wider-than-expected loss due to lower revenues. The most alarming factor was the below-par showing of Human Genome’s recently launched lupus drug, Benlysta. Following the lackluster showing, we have increased our loss per share estimates for 2011 and 2012. Moreover, management has pushed back its aim of turning … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Momentum Stock: Advance America Cash Advance Centers, Inc. Posted: 31 Oct 2011 11:00 PM PDT Advance America Cash Advance Centers, Inc. (AEA) has seen big gains over the last six months, almost doubling in price after recently topping off just shy of $9. With another great quarter in hand and a bullish growth projection, this Zacks #1 Rank stock is a leader in momentum. Company Description Advance America, Cash Advance Centers, Inc. provides cash advance services in the United States, the United Kingdom, and Canada. The company was founded in 1997 and has a market cap of $534 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Growth & Income Stock: Caterpillar Inc. Posted: 31 Oct 2011 11:00 PM PDT If a recession is right around the corner, somebody forgot to tell Caterpillar Inc. (NYSE:CAT). The company delivered record revenue and profit for the third quarter of 2011 and EPS crushed the Zacks Consensus Estimate by 21%. Management also provided a positive outlook going forward and stated that its order backlog is at an all-time high. This prompted analysts to revise their estimates higher for both 2011 and 2012, sending the stock to a Zacks #2 Rank (Buy). The company also pays a dividend … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Aggressive Growth Stock: Arctic Cat, Inc Posted: 31 Oct 2011 11:00 PM PDT With snow storms already making headlines, what better time to take a look at Arctic Cat Inc. (NASDAQ:ACAT). The company also just reported a fantastic quarter that exceeded expectations and is sure to please investors. Company Description Arctic Cat makes ATVs and snowmobiles under the Arctic Cat brand as well as parts, apparel and accessories. Big Quarter Last week on Oct 27 the company reported results for its fiscal second quarter that included a 17% increase in sales. Results were driven by a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/USD Down During The Asian Session Posted: 31 Oct 2011 10:55 PM PDT Forexpros – The Euro was lower against the U.S. Dollar on Tuesday. EUR/USD was trading at 1.3821, down 0.27% at time of writing. The pair was likely to find support at 1.3792, today's low, and resistance at 1.4246, Thursday's high. Meanwhile, the Euro was up against the British Pound and down against the Japanese Yen, with EUR/GBP gaining 0.01% to hit 0.8615 and EUR/JPY falling 0.32% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – GBP/USD Down In Asian Trade Posted: 31 Oct 2011 10:25 PM PDT Forexpros – The British Pound was lower against the U.S. Dollar on Tuesday. GBP/USD was trading at 1.6031, down 0.35% at time of writing. The pair was likely to find support at 1.5965, Monday's low, and resistance at 1.6166, Monday's high. Meanwhile, the British Pound was up against the Euro and down against the Japanese Yen, with EUR/GBP shedding 0.09% to hit 0.8606 and GBP/JPY falling 0.42% to hit … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Ending The Postal Monopoly: Lessons From Europe; Germany Has Sold 99.9% Of Its Post Office Buildings Posted: 31 Oct 2011 08:54 PM PDT New York Times  — “With the United States Postal Service facing insolvency, and one of the postal workers' unions hiring consultants on business restructuring, it is looking toward Europe for new operating models, even though American legislation currently precludes adapting some of those innovations. After selling off all but 24 of 29,000 post office buildings in the past 15 years, the German postal service is now housed mostly within other business "partners," including banks, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Price-Gouging Vendors Vs. Taxpayer-Gouging Public Schools Posted: 31 Oct 2011 08:33 PM PDT The graphic above is from the White House blog showing that 650% is the “average markup by price-gouging vendors when the drug is in short supply.”  Further, “President Obama signed an Executive Order to prevent and reduce prescription drug shortages that lead to price gouging.”  The graphic below is from Investor’s Business Daily showing a 375% increase in public school spending over four decades, with no change reading, math and science test scores.  Reason? A bloated, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Australia Central Bank Cuts Rate 25bps To 4.50% Posted: 31 Oct 2011 08:32 PM PDT The Reserve Bank of Australia (RBA) cut the cash rate by 25 basis points to 4.50% from 4.75% previously.  The RBA said: “Over the past year, the Board has maintained a mildly restrictive stance of monetary policy, in view of its concerns about inflation. With overall growth moderate, inflation now likely to be close to target and confidence subdued outside the resources sector, the Board concluded that a more neutral stance of monetary policy would now be consistent with … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Market Undergoes Correction Ahead Of Big Events This Week Posted: 31 Oct 2011 04:21 PM PDT By ForexMansion.com European stocks fell as they corrected after the largest monthly growth since July 2009, as some investors again started to reluctantly buy stocks before Euro zone leaders had a chance to explain how they will pay for the expansion of the region's rescue fund. Futures on American stock indexes and Asian shares also fell. Shares of HSBC Holdings Plc and BHP Billiton Ltd led the drop among shares of companies in the banking and commodity sectors. The Stoxx Europe 600 Index … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Daily FTSE Technical Update Posted: 31 Oct 2011 09:31 AM PDT By ForexMansion.com by, James A. Hyerczyk After last week's massive rally to 5747.30, things have settled down for the FTSE 100 index. A combination of technical factors including overbought conditions as well as a dramatic shift in the fundamentals has led to more uncertainty which traders have used as an excuse to take profits. Although the index is showing signs of a top, there hasn't been a top formation per se. In other words, the market appears to have just stopped rallying. The … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Daily Indices Update: AUSTRALIA 200 (AUS200) Posted: 31 Oct 2011 07:02 AM PDT By ForexMansion.com by, James A. Hyerczyk The Australia 200 index CFD broke through the support line of a rising wedge chart pattern, triggering the start of a possible break into the Autochartist target zone at 4078.23 to 3844.18. The overall quality rating is 7-bars. The initial trend which was down prior to the start of the pattern's formation was the maximum 10-bars. This indicates that the market has a bias to the downside. In addition, the break through the resistance level makes the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

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