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GBPUSD

Volatility of this pair is drastic. It went up and down bobbling 400 pips and more before closing for the week. The pound might be undergoing a major correction towards the downside as it broke the support lines for the Daily and Weekly charts. More monitoring is needed on the opening for confirmation of the trend, though it looks good on H4 and Daily for a long, I’ll just step aside for the moment.

Read the full post of Weekly Forex Technical Analysis - 19th August 07

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Hi Clarence! Thank you for accepting the interview with us on No Bullshit Forex Blog,

Q. Tell us more about yourself.

Read the full post of Interview with Clarence Chee, Forex Club Group

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I like reading from Investica, a pity they’re updating all these manually without RSS.

The US currency will gain further safe-haven support in the short term as credit stresses persist. It is particularly significant that emerging-market currencies have started to come under pressure as this will increase the potential flow of funds back into the US dollar.

Read the full post of Investica - Flight to Quality Boosts Dollar

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This might come a little late as I’ve just opened it. Note the high pips spread for this pair.

GBPCHF

Long 2.4245 SL 2.4215 TP 2.4295 or Move SL to profit

Popularity: 13% [?]

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Got this from my mails and I thought I’d share this.

FXCM (www.fxcm.com) announced today that it has added a new feature to FX Trading Station II. Clients are now able to place a market order with one click. This new feature, one-click execution, will let clients trade more easily on news events and in volatile markets.

Read the full post of FXCM introduces 1-Click Execution

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Aug. 14 (Bloomberg) — The euro declined for a second day against the dollar and yen after the European Central Bank provided more cash to banks to ease a credit squeeze prompted by losses on U.S. subprime mortgages.

Europe’s common currency touched a four-month low against the yen after the region’s central bank loaned banks funds for a fourth trading day. UBS AG said profit may be hit this year because of turmoil in financial markets, and a Spanish newspaper reported Banco Santander SA has more than 2 billion euros ($2.7 billion) of investments in U.S. high-risk loans.

Read the full post of Bloomberg - Euro Falls Versus Dollar on Signs Subprime Losses Spreading

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The sharply lower than expected inflation rate will increase pressure for a further interest rate increase to be postponed and this will undermine the UK currency in the short term even if the July data proves to be erratic.

Sterling weakened to five-week lows below 2.01 against the dollar on Monday before a tentative recovery to 2.0120 and managed to regain some ground against the Euro. The UK currency was holding close to 2.01 on Tuesday before weakening sharply after the UK inflation data.

Read the full post of Investica - Inflation Data Weakens Sterling

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30 minutes from now, look out for US PPI’s release. Terminate the trade should the indicator be more than -0.2%

Long/ Buy Stop GBPUSD at 2.0038, SL 1.9998, TP 2.0131 or move SL

Popularity: 12% [?]

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Mmn, that’s surprisingly sweet to the Yen. A few sources of news on this piece here.

The Japanese currency strengthened to near 118.0 against the dollar on Thursday and reversed Wednesday’s heavy losses against the Euro as volatility remained very high. The Japanese currency strengthened through the 118.0 barrier in Asian trading on Friday as Asian stock markets continued to weaken with markets looking at important dollar support near 117.50. The dollar attempted to stabilise close to 118.0.

Read the full post of Yen Gets Boosted

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My homework for the upcoming new week as follows:

GBPUSD

Still on the uptrend. Not much changes. Seen a doji forming on the H4 and daily chart. Should be a good opening towards the beginning of the market. Watch out for the candle crossing the 200EMA lines and MACD reversing to the positive side for confirmation. Bullish

GBPJPY

Read the full post of Weekly Forex Technical Analysis - 12th August 07

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