InvestMacro FX

U.S. Existing Homes sales increased more than expected for the month of April according to the monthly report produced by the National Association of Realtors. The NAR report showed that existing-home sales including single family homes, co-ops and townhouses increased 2.9 percent in April to a seasonally adjusted annual rate of 4.68 million units.

Economic forecasts were predicting an increase of 2.0 percent for the month following a revised 3.4 percent decrease in March. On an annual basis, April’s existing-homes sales are 3.5 percent lower than the April 2008 sales pace of 4.85 million units.

The median sales price for existing homes was $170,200 in April while total housing inventory showed an increase of 8.8 percent in April to a total of 3.97 million homes.

NAR chief economist Lawrence Yun commented on April’s increase saying, “Most of the sales are taking place in lower price ranges and activity is beginning to pick up in the midprice ranges, but high-end home sales remain sluggish”.

US Dollar mixed in Forex Trading today.

The U.S. dollar has been mixed today in forex trading against the other major currencies. The U.S. stock markets have been in negative territory today as General Motors looks to be headed towards bankruptcy.  The Dow Jones Industrial Average has lost almost 100 points so far today while the Nadaq and the S&P500 have declined approximately 3.80 points and 7.83 points, respectively.

The dollar, meanwhile, has been higher versus the euro, Australian dollar, New Zealand dollar, Canadian dollar and the Swiss franc while falling against the Japanese yen and the British pound.

The euro has declined versus the dollar today as the EUR/USD has fallen from its 1.3976 opening(00:00 GMT) to trading at 1.3916 in the afternoon of the U.S. trading session at 2:58pm EST according to currency data from Oanda.

The British pound has continued its climb today as the GBP/USD has advanced from its 1.5973 opening exchange rate to trading at 1.6045 usd per gbp. The dollar has fallen versus the Japanese yen and trading at 95.19 after opening at the day at the 95.41 exchange rate.

The dollar has gained slightly today versus the Canadian loonie as the USD/CAD trades at the exchange rate of 1.1149 after opening the day at 1.1133.

The dollar has gained against the Swiss franc as the USD/CHF trades at 1.0868 after opening at 1.0852 today while the dollar has also been stronger against the Australian dollar and New Zealand dollar. The AUD/USD trades at 0.7831 after a 0.7872 opening while the NZD/USD trades at 0.6194 today after opening at the exchange rate of 0.6228.

GBP/USD Chart – The British Pound advancing today versus the US dollar in forex trading and trading at its highest level since November 2008.

By Fast Brokers

The Euro is depreciating against the Dollar as the EUR/USD’s volume dips.  The currency pair’s impressive bull-run is cooling off below the highly psychological 1.40 level, and could get squeezed between our 2nd tier downtrend line and 1st/2nd tier uptrend lines.  The relative weakness of the Euro is reflected in the rapid selloff in the EUR/GBP with investors favoring the Pound over the Euro.  Although, since recent economic data from the EU hasn’t given investors much of a reason to balk, we view present losses as a symptom of overbought conditions.  Therefore, we are witnessing a healthy consolidation unless the downturn should pick up speed with sizeable volume.  However, we don’t believe this to be the case.  We view the bull-trend as alive and well with the last concrete downtrend, our 1st tier, fading into the background.  As for the immediate term, keep a close eye on our 1.3889 support.  If this doesn’t hold we could see a solid near-term decline.  As a result, our 2nd tier uptrend line should prove to be an important defense.

The EU will be relatively quiet on the economic news front, meaning the EUR/USD should reflect a sharp positive correlation with U.S. equities for the time being.  Hence, should the S&P futures build off of yesterday’s strong showing, the EUR/USD could be incline to follow suit to the upside.  Meanwhile, investors will be looking for a slight increase in the German Unemployment Change release tomorrow as manufacturers and exporters struggle with a stronger Euro and waning global consumption.  We maintain our bullish outlook on the EUR/USD trend-wise with fundamentals working in the bulls’ favor.

Fundamentally, we find resistances of 1.3922, 1.3958, 1.3991, 1.4024, and 1.4060.  To the downside, we see supports of 1.3889, 1.3847, 1.3807, and 1.3751.  The 1.35 area serves as a psychological cushion with 1.40 acting as a psychological barrier.  The EUR/USD is currently exchanging at 1.3911.

Market Commentary provided by Fast Brokers.

Disclaimer: FastBrokers’ market commentary is provided for information purposes only and under no circumstances should be regardedneither as an investment advice nor as a solicitation or an offer to sell/buy any financial product. FastBrokers assumes no responsibility or liability from gains or losses incurred by the information herein contained.

Risk Disclosure: There is a substantial risk of loss in trading futures and foreign exchange. Please carefully review all risk disclosure documents before opening an account as these financial instruments are not appropriate for all investors.

By Fast Brokers

The Cable continues its incredible run and is currently working to climb above our 2nd tier downtrend line and the psychological 1.60 level.  Our 2nd tier downtrend line is a critical obstacle since it stretches back to July 2008 highs, forming our last foreseeable blockade for the medium-term.  Hence, even though the Cable’s near-term gains have been impressive, we could witness even more exciting movements to the upside if the currency pair can clear the 2nd tier.  Due to the significance of present levels, we wouldn’t be surprised to experience a little hesitation back around 1.60 as investors debate leaving the key resistance behind.  We advise keeping a close eye on volume over the next couple sessions.  A large up-bar backed by considerable volume could indicate a forthcoming breakout.

The Cable is riding high despite BBA Mortgage Approvals showing home purchases may not be picking up as quickly as investors hoped.  Today’s BBA release reflects the same mixed message sent by yesterday’s Home Price Index release from the U.S.  Therefore, the housing sector continues to be a sore thumb in both Britain and the U.S.  Regardless, economic data from Britain has beat analyst expectations from almost every other economic standpoint over the last month.  As a result, economic releases will have to disappoint for the next couple weeks for investors to change their optimistic attitude.

Investors are shrugging off the fact that Britain now has a 33% chance of losing its AAA debt rating.  Hence, investors are sending a message that the U.S. is worse off concerning debt-exposure and monetary saturation induced by the massive injections of liquidity.  As a result, we’re witnessing a broad-based devaluation of the dollar around the globe.  The positive performances of both U.S. equities and Oil futures are only adding fuel to the fire with both the Cable and EUR/USD exercising their positive correlation with the S&P futures to the fullest extent.  Investors will be keeping a close eye on economic releases over the next two sessions including Existing and New Home Sales, Durable Goods Orders, and weekly Unemployment Claims from the U.S. coupled with Britain’s CBI Realized Sales.  We maintain our bullish outlook trend wise on the GBP/USD for the aforementioned reasons.

Fundamentally, we find resistances of 1.6062, 1.6129, 1.6233, 1.6307, and 1.6388.  To the downside, we see supports of 1.5988, 1.5.5899, 1.5822, 1.5727, and 1.5662.  1.60 is becoming a psychological cushion with 1.65 acting as a psychological barrier.  The GBP/USD is currently exchanging at 1.6032.

Market Commentary provided by Fast Brokers.

Disclaimer: FastBrokers’ market commentary is provided for information purposes only and under no circumstances should be regardedneither as an investment advice nor as a solicitation or an offer to sell/buy any financial product. FastBrokers assumes no responsibility or liability from gains or losses incurred by the information herein contained.

Risk Disclosure: There is a substantial risk of loss in trading futures and foreign exchange. Please carefully review all risk disclosure documents before opening an account as these financial instruments are not appropriate for all investors.

By Fast Brokers

The USD/JPY is rebounding nicely from our 2nd tier uptrend line and critical March 18 lows despite the tensions surrounding North Korea.  Additionally, investors are brushing aside a much worse than expected Japanese Trade Balance coupled with a large downward revision in April’s release.  Japan’s negative Trade Balance shows global consumption may not be recovering as quickly as investors are pricing in.  Furthermore, exports to China could be slowing, indicating China’s economy may not be as strong as thought.  An overall appreciated Yen is really taking its toll on demand for Japanese exports.  However, before we read too far into the Trade Balance, we can’t forget Core Machinery Orders are rising at an encouraging pace.  Therefore, Japan’s forward-looking economic performance is looking up.  Japan will release Retail Sales later in Wednesday’s session, giving investors a better idea of the state of the nation’s economy.

Meanwhile, the USD/JPY remains lodged between our 2nd tier uptrend line and 1st tier downtrend lines.  The pressure is still clearly applied to the downside with 5 downtrend lines and the critical 100 level bearing overhead.  Every recent near-term pop has been accompanied by disappointing volume, showing the bulls lack conviction.  The USD/JPY has neglected its positive correlation with U.S. equities as of late, preferring to participate in the broad depreciation of the Dollar.  March 18 lows and our 2nd tier uptrend line continue to play a key defensive role.  If these cushions don’t hold, we could see the downturn pick up speed towards our 1st tier uptrend line.  The line of defense is running thin, meaning the Yen is on the cusp of a rapid appreciation against the Dollar.  Therefore, a large near-term pop backed by sizeable volume is sorely needed to keep the weak near-term uptrend alive.  We maintain our bearish outlook trend-wise due to the aforementioned reasons.

Fundamentally, we find resistances of 95.88, 96.33, 96.90, 97.32, and 97.98.  To the downside, we see supports of 95.12, 94.51, 93.66, 92.75, and 92.07.  The 100 level serves as a key psychological barrier with 95 acting as a psychological cushion.  The USD/JPY is currently exchanging at 95.26.

Market Commentary provided by Fast Brokers.

Disclaimer: FastBrokers’ market commentary is provided for information purposes only and under no circumstances should be regardedneither as an investment advice nor as a solicitation or an offer to sell/buy any financial product. FastBrokers assumes no responsibility or liability from gains or losses incurred by the information herein contained.

Risk Disclosure: There is a substantial risk of loss in trading futures and foreign exchange. Please carefully review all risk disclosure documents before opening an account as these financial instruments are not appropriate for all investors.

By Fast Brokers

Gold is consolidating after Tuesday’s losses, balancing along the highly psychological $950/oz level.  Meanwhile, our resistance and support levels are fairly as the S&P battles 900, meaning consolidation could continue for the near-term.  Our 2nd and 3rd tier uptrend and downtrend lines are reaching an inflection point today, reflecting the relative importance of present levels.  Gold continues to exhibit a positive correlation with U.S. equities.  The recovery in global equity markets is sending oil sky high while the Dollar depreciates across the board, sparking fear of inflation.  Gold has served as a reliable hedge against inflation in the past.  As a result, investors are fleeing to the precious metal.  Additionally, we wouldn’t be surprised if China is aggressively purchasing the precious metal to diversify its reserves.

While momentum is in favor of the uptrend, the downtrend still has several upcoming barriers preventing gold from a large breakout to the upside.  To give you a better idea of the limitations to the upside trend-wise, create layers of downtrends beginning from March 2008 highs and connecting through February 2009 highs.  If the precious metal can manage to rally above these potential downtrend lines, then we may witness an all-out bull trend.  The fact that gold is stabilizing around $950/oz is a positive sign indicating bulls could be preparing to take the next step to the upside.

Fundamentally we find resistances of $948.96/oz, $950.87/oz, $953.40/oz, $955.66/oz, and $959.24/oz.  To the downside, we see supports of $947.61/oz, $944.48/oz, $942.24/oz, $940.45/oz, and $938.41/oz. Gold is currently trading at $951.20/oz.

Market Commentary provided by Fast Brokers.

Disclaimer: FastBrokers’ market commentary is provided for information purposes only and under no circumstances should be regardedneither as an investment advice nor as a solicitation or an offer to sell/buy any financial product. FastBrokers assumes no responsibility or liability from gains or losses incurred by the information herein contained.

Risk Disclosure: There is a substantial risk of loss in trading futures and foreign exchange. Please carefully review all risk disclosure documents before opening an account as these financial instruments are not appropriate for all investors.

Source: ForexYard

The U.S Consumer Confidence report which was released yesterday, gave a surprisingly positive result, suggesting that the public is retaining its faith in the North-American economy. In today’s trading, traders should pay special attention to the Existing Home Sales indicator scheduled for 14:00 GMT, as another positive figure could further strengthen the USD.

Economic News

USD – Dollar Pairs Gains On Positive Consumer Confidence

The greenback advanced versus all of its major counterparts as signs of improving consumer confidence in the United States combined with worries about Germany’s banks hurt the European currency after a rally last week. The Conference Board’s U.S. consumer confidence index rose in May to 54.9 from an upwardly revised 40.8 in April. The U.S currency strengthened after a media report questioning the health of the German banking system prompted traders to trim back bets against the Dollar.

In trading just before midday in New York, the Dollar was up 0.2% versus the EUR to $1.3893, after touching a session low of $1.3859. The Dollar also rose against the Japanese Yen, trading at 95.10 Yen compared with 94.77 Yen late Friday. But after the release of the U.S. confidence numbers, the EUR also regained some ground against the Dollar, and was at $1.3984 in late New York trade.

The Dollar traded at 5 month lows last week, pushed lower in part by concerns that soaring deficits may threaten the United States’ ‘AAA’ sovereign debt rating. However, the Dollar would likely hold its value even if the U.S. lost its AAA credit rating, because demand for government securities among foreign central banks is unlikely to wane, according to analysts.

Another round of important economic data from U.S is ahead, the Existing Home Sales. The indicator will be published on Wednesday at 14:00 GMT, and is expected to rise from 4.57 million to 4.65 million. A good figure could help the Dollar with retracting its last month’s falls against the EUR.

EUR – EUR Hit by Concerns over German banking sector

The European currency depreciated for the first time in 7 days, eroding advances that pushed it last week to the highest level in 4 months. The 16-nation currency fell against the Dollar on speculation last week’s gain was too large to sustain, reducing the currency’s appeal. The EUR dropped 0.2% to $1.3982 from $1.4017 yesterday. It touched $1.4051 on May 22, the highest level since Jan. 2. Against the Yen, the EUR traded at 132.87, compared with 132.92 yesterday.

The Euro-Zone currency was hurt by plummeting share prices and weak economic data. A media report questioning the health of the German banking system also prompted traders to cash in on the EUR’s recent rally. EUR’s depreciation versus the Dollar came after the report over Germany’s debt situation. Although not new, the report warned that German banks have bad assets of around 200 billion euros ($280 billion).

However, according to technical analysis the EUR may advance further versus the Dollar after the 50-day moving average rose above the 200- day average for the first time since September. The EUR 50-day moving average, currently at $1.3409, surpassed the 200-day moving average at $1.3385 today. Both are good bullish signals analysts say.

JPY – Yen Down Versus the U.S Dollar

The Japanese yen weakened as U.S. economic reports added to evidence the start of a recovery is near, reducing demand for safety. The JPY fell against 15 of the 16 most-active currencies after data showed U.S. consumer confidence climbed this month to the highest since September.

The JPY held declines against the Dollar after a government report showed the world’s second-largest economy unexpectedly posted a trade surplus in April. The Yen bought 95.36 versus the dollar from 95.03. The Yen declined to 133.34 per EUR from 132.90 yesterday.

Oil – Crude Rallies on U.S Consumer Confidence

Crude Oil prices rose as much as 0.8%, to $62.35 a barrel, its highest settlement in more than 6 months in New York yesterday as U.S. benchmark stock indexes climbed for the first time in 5 sessions. Crude extended its gains after rising yesterday as a report showing a jump in U.S. consumer confidence triggered an advance in equities. The biggest gain in consumer confidence since 2003 spurred optimism the worst of the recession is over in the world’s largest oil-consuming nation.

Oil was falling earlier in the session on expectations that the Organization of Petroleum Exporting Countries (OPEC) won’t cut production quotas at a Thursday meeting. OPEC raised its oil production in April for the first month since September, as some member countries took advantage of a recent rally in oil prices, data from the International Energy Agency showed.

OPEC, responsible for 40% of global crude supply, is likely to keep output quotas unchanged for a second time this year as recovering oil prices forestall the need for new cuts, according to analysts.

Technical News

EUR/USD

After peaking at the 1.4050 level, the pair has slightly dropped and is currently traded at the 1.3960 level. It appears that a technical correction might take place, as a bearish cross has been formed on the 4-hour chart’s Slow Stochastic. Going short could be the right choice today.

GBP/USD

After a few failed attempts to breach through the 1.6000 resistance level, it appears that the bullish momentum has reached its limit. Currently, as all oscillators on the daily chart are pointing down, it appears that a modest bearish movement might take place.

USD/JPY

There is a very distinct bullish channel forming on the 1-hour chart, as the pair is now floating near its upper boarder. The daily chart continues to provide bullish signals as the RSI has left the over-sold area, and is pointing back up. It seems going long could be the preferable choice today.

USD/CHF

The pair has experienced a lot of volatility lately, as a triple doji formation was formed on the daily chart. However, as a bullish cross is taking place at the daily chart’s Slow Stochastic, it appears that a bullish correction might be imminent.

The Wild Card – Gold

After over a month of very strong bullish movements, on which an ounce of gold was traded for over $960, it appears that a bearish correction is now taking place. Currently, as the daily chart’s RSI has dropped below the 70 line, it seems that the bearish move could extend. This might be a great opportunity for forex traders to join a very popular trend.

Forex Market Analysis provided by Forex Yard.

© 2006 by FxYard Ltd

Disclaimer: Trading Foreign Exchange carries a high level of risk and may not be suitable for all investors. There is a possibility that you could sustain a loss of all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with Foreign Exchange trading.

By GCI Fx Research

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The euro weakened vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.3860 level and was capped around the US$ 1.4020 level.   The common currency failed to keep pace with a strong showing from U.S. equity markets as the Dow registered a 200+ point gain through mid-day North American trading.  Data released in the U.S. today saw the March S&P/Case-Shiller home price index decline 18.7% while the May consumer confidence survey improved to 54.9 from a revised 40.8 in April.  The present sub-index and expected sub-index rallied nicely with the latter jumping to 72.3 from a revised 51.0 in March.  Traders are closely watching developments regarding the fate of General Motors, the U.S. automotive giant that is facing a series of deadlines this week.  In eurozone news, the EMU-16 current account balance improved for the fourth consecutive month in March, printing at -€6.5 billion from a revised February tally of -€7.8 billion.  Also, EMU-16 March industrial new orders were off 0.8% m/m and 26.9% y/y.  Additionally, German GDP was off 3.8% q/q in the first quarter and down 6.9% y/y.  Moreover, French April consumer spending was up +0.7% m/m and +0.6% y/y.  GfK reported the June German consumer confidence number stable at 2.5.  Euro bids are cited around the US$ 1.3435 level.

¥/ CNY

The yen appreciated marginally vis-à-vis the U.S. dollar today as the greenback tested bids around the ¥94.50 level and was capped around the ¥95.15 level.  The yen was mixed across the board as traders reacted to a mixed bag of eurozone and U.S. economic data.  Data released in Japan overnight saw the April corporate service price index print at 92.7, off 0.2% m/m and 2.4% y/y.  Bank of Japan and the Cabinet Office both upgraded their assessments of the Japanese economy yesterday and the government expects positive economic growth in the April – June quarter.  The Nikkei 225 yesterday stock index lost 0.39% to close at ¥9,310.81.  U.S. dollar offers are cited around the ¥104.15 level.  The euro moved lower vis-à-vis the yen as the single currency tested bids around the ¥131.45 level and was capped around the ¥133.30 level.  The British pound moved higher vis-à-vis the yen as sterling tested offers around the ¥151.50 level while the Swiss franc moved higher vis-à-vis the yen and tested offers around the ¥87.80 level. In Chinese news, the U.S. dollar appreciated vis-à-vis the Chinese yuan as the greenback closed at CNY 6.8355 in the over-the-counter market, up from CNY 6.8255.

₤

The British pound moved higher vis-à-vis the U.S. dollar today as cable tested offers around the US$ 1.5965 level and was supported around the $1.5775 level.  Bank of England Monetary Policy Committee member Sentance indicated he sees indications the worst of the economic downturn has passed and added he is “hopeful” the economy will improve later this year or in 2010.  Cable bids are cited around the US$ 1.5315 level.  The euro lost ground vis-à-vis the British pound as the single currency tested bids around the ₤0.8755 level and was capped around the ₤0.8805 level.

CHF

The Swiss franc depreciated vis-à-vis the U.S. dollar today as the greenback tested offers around the CHF 1.0925 level and was supported around the CHF 1.0810 level.  Data released in Switzerland today saw the Q1 employment level remain unchanged at 3.96 million.  U.S. dollar offers are cited around the CHF 1.1165 level.  The euro lost ground vis-à-vis the Swiss franc as the single currency tested bids around the CHF 1.5125 level while the British pound moved higher vis-à-vis the Swiss franc and tested offers around the CHF 1.7295 level.

Daily Market Commentary provided by GCI Financial Ltd.

GCI Financial Ltd (”GCI”) is a regulated securities and commodities trading firm, specializing in online Foreign Exchange (”Forex”) brokerage. GCI executes billions of dollars per month in foreign exchange transactions alone. In addition to Forex, GCI is a primary market maker in Contracts for Difference (”CFDs”) on shares, indices and futures, and offers one of the fastest growing online CFD trading services. GCI has over 10,000 clients worldwide, including individual traders, institutions, and money managers. GCI provides an advanced, secure, and comprehensive online trading system. Client funds are insured and held in a separate customer account. In addition, GCI Financial Ltd maintains Net Capital in excess of minimum regulatory requirements.

DISCLAIMER: GCI’s Daily Market Commentary is provided for informational purposes only. The information contained in these reports is gathered from reputable news sources and is not intended to be U.S.ed as investment advice. GCI assumes no responsibility or liability from gains or losses incurred by the information herein contained.

U.S. home prices continued to decline and fell a record amount in the first quarter of 2009 according to the Standard & Poors/Case-Shiller index released today.  The Standard & Poor’s/Case-Shiller Home Price Index measures sale prices of existing single-family homes nationally and tracks 10-city and 20-city composite home price measurements.

The first quarter of 2009 home prices report showed that the National Home Price Index fell by a new record of 19.1 percent when compared to the first quarter of 2008. The house price report for the month of March showed that the 20-city composite index fell an annual rate of 18.7 percent while the 10-city composite index declined by 18.6 percent when compared to last year.

The areas hardest hit in March were Phoenix, Las Vegas and San Francisco with annual declines of 36.0 percent, 31.2 percent and 30.1 percent, respectively. On an annual basis, none of the 20 metropolitan areas measured showed house price increases with Dallas and Denver being the areas with the lowest declines at 5.6 percent and 5.5 percent, respectively. On a monthly basis, Charlotte registered the highest house price gain with a rise of 0.3 percent while Denver saw a 0.1 percent gain and Dallas showed no change in March. Minneapolis registered the largest house price decline with a fall of 6.1 percent while Detroit saw a decline of 4.9 percent for the month.

David M. Blitzer, Chairman of the Index Committee at S & P, commented in the report saying, “All 20 metro areas are still showing negative annual rates of change in average home prices with nine of the metro areas having record annual declines. Seventeen metro areas recorded a monthly decline in March, with Minneapolis, Detroit and New York posting record monthly declines. On a positive note, nine of MSAs are reporting a relative improvement in year-over-year returns and nine of the 20 metro areas saw an improvement in their monthly returns compared to February. Furthermore, this is the second month since October 2007 where the 10- and 20-City Composites did not post a record annual decline.”

U.S. Consumer Confidence gains again in May.

U.S. Consumer Confidence rose by the most in six years according to the Conference Board Consumer Confidence Index released today. The consumer index, representing responses from 5,000 U.S. households, showed that consumer confidence increased to a 54.9 score this month following a revised 40.8 score in April. Today’s report brought consumer confidence to its highest level since September 2008 and marked the second consecutive month of better than expected gains. The 14.1 point increase easily surpassed market forecasts that were expecting consumer confidence to edge up by approximately 1.2 points to a 42.0 score for the month.

The other two parts of the survey also saw increases in May.  The present situation section of the index increased to 28.9 from 25.5 in April while the expectations index surged from 51.0 in April to 72.3 this month.

Lynn Franco, the Director of The Conference Board Consumer Research Center commented in the report on the increased readings, “After two months of significant improvements, the Consumer Confidence Index is now at its highest level in eight months (Sept. 2008, 61.4). Continued gains in the Present Situation Index indicate that current conditions have moderately improved, and growth in the second quarter is likely to be less negative than in the first. Looking ahead, consumers are considerably less pessimistic than they were earlier this year, and expectations are that business conditions, the labor market and incomes will improve in the coming months.”

Forex – U.S. dollar lower in Forex Trading today.

The U.S. dollar has been trading lower in forex trading today against the major currencies.  The dollar has declined versus the euro, British pound, Canadian dollar, Australian dollar, New Zealand dollar and Swiss franc while showing a gain versus the Japanese yen.

The euro has advanced versus the USD as the EUR/USD trades at 1.3988 in the afternoon of the US trading session at 2:46pm EST after opening the day at 1.3971 according to currency data from Oanda. The British pound has gained as the GBP/USD has gone from its 1.5878 opening rate to trading later at 1.5930.

The dollar has edged up against the Japanese yen today as the USD/JPY has increased from its 94.62 opening to trading at 95.01.

The dollar has fallen against the Canadian dollar after opening at 1.1265 earlier today to trading at 1.1178 later. Meanwhile, the USD has also declined against the Swiss franc as the USD/CHF has gone from 1.0863 to trading at 1.0839.

The Australian dollar has gained versus the USD as the AUD/USD trades at 0.7847 after opening today at 0.7778 while the New Zealand dollar has also increased versus the USD as the NZD/USD trades at 0.6244 after opening the day’s trading at 0.6178.

USD/CAD Chart – The US Dollar continuing to fall today versus the Canadian Dollar in Forex Trading. The USD has fallen six out of the last seven days against the CAD and today traded at its lowest point since October.

By Adam Hewison

This video is a little bit different from our previous videos in that we show you some of the new improvements we’ve just added to MarketClub.

I just got the word from my business partner Dave Maher, who is the technical part of the team that he had just upgraded the MarketClub charts. I was so excited at the improvements that I decided to rush over to our digital studios and create a new video. All credit goes to Dave and his team who did an outstanding job on this new MarketClub release.

One major improvement and one I believe you’re going to really enjoy and profit from is a study called “Donchian Channels”. This study is named after its inventor Richard Donchian who created this amazing technical juggernaut in the late 40s.

There are also a ton of other improvements like, cross hairs and a new 200 day moving average study which I think you’ll enjoy. You might be surprised at how I use the 200 day moving average.

You can view this new video with our compliments. There are no registration requirements. Please enjoy and give your feedback on our blog. Thank you.

See the New Video Here…

All the best,

Adam Hewison
President, INO.com
Co-creator, MarketClub

By Adam Hewison

Here’s a key video to look at this week.

I was just looking at the S&P 500 and I noticed a very pronounced cycle in this market that I want to share with you.

In my new video I explain exactly what I’ve seen and what I expect will happen to this market if this cycle continues on track.

You can view this new video with my compliments. There are no registration requirements. Please enjoy and give your feedback on our blog. Thank you.

See the New Video here…

All the best,

Adam Hewison
President, INO.com
Co-creator, MarketClub