IG Index Daily Financial FOREX Spreadbetting Trading News 07.01.11

Markets weaken as Euro slides against Dollar pressure and everyone holds their breath before US Non-Farm Payrolls.

Forex Technical Update 10/07/2010 - USD-Crosses Ahead of the Non-Farm Payroll

Forex Technical Update 10/7/2010

Tomorrow's non-farm payroll may be an event risk so let's take a look at some USD-crosses. The EUR/USD is at an important resistance zone near 1.40. The GBP/USD hit resistance at 1.60 target. The USD/JPY continued lower than the intervention level. The AUD/USD and USD/CAD pairs are testing important resistance and support zones respectively. Finally, gold was seen to go to 1365 and is now seeing early topping action after hitting this level. Let's take a look at these charts.

Fan Yang CMT CTA
www.fxtimes.com

Forex Technical Update 9/30/2010 - Greenback is Fighting Back as Gold's Record Run Stalls

Forex Technical Update 9/30/2010

The correlation of general USD weakness is very strong with the rally in Gold. As gold shows topping action, the EUR/USD and AUD/USD appear to be topping as well, and the USD/JPY appears to be bottoming. The GBP/USD reacted very strongly and is testing its channel support. Finally, we also see the Japanese yen firm up a bit, as the GBP/JPY continues to slide, and the EUR/JPY appears to be topping. Let's look at the charts to assess the significance of today's moves.

Fan Yang CMT
www.fxtimes.com

Forex Technical Update 9/27/2010 - Consolidation in Gold May Lead to Some USD Strength

Forex Technical Update 9/27/2010
Fan Yang CMT
www.fxtimes.com

Today, the EUR/JPY and AUD/JPY continues higher towards important resistance areas. The EUR/USD is consolidating and there may be a correction decline. If there is, look for a positive reversal to develop, as the market is poised to test the 135.50 area, and possibly head towards 1.39. Looking at gold, we may have a bit of dollar strength coming up, which may delay the rally in EUR/USD. But if the consolidation in Gold is followed by continuing rally instead, the EUR/USD is also likely to continue. Let's take a look at the charts.

Forex Technical Update 9/28/2010 - USD/JPY's Slide Brings Intervention Speculation

Forex Technical Update 9/28/2010

USD/JPY is sliding towards the levels right before the intervention a couple of weeks ago. There should be some support ahead. The Euro continues higher against the Yen, Pound, and US Dollar. Gold rallies after a quick retracement. Finally AUD/USD extends towards swing target, and USD/CAD remains in sideways range.

Fan Yang CMT
www.fxtimes.com