short term forex market

$ index, still short but get aggressive with stops

FXstreet.com (Barcelona) - In the May 5th email on the $ index, affirmed the short position (sold on April 27th at 85.60), and the market has indeed continued lower, breaking below the March 19th low at 82.65 (to levels not seen since early Jan), on way toward 80.10/20 (50% retracement from the March 2008 low at 70.70) next. Though the downside pattern is still not ?complete? suggesting further downside, the market is nearing oversold after the last few weeks of

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Euro Holds Gains Following Smaller-Than-Expected ECB Cut

A smaller-than-expected ECB interest rate cut on Thursday morning has helped the euro move higher, but currency strategists are mixed as to whether the currency will see further gains in the short term.EUR/USD shot to session highs at 1.3493 USD following the interest rate decision and just ahead of ECB President Jean-Claude Trichet's monthly press conference. However, the gains were relatively short-lived, as markets dragged the cross back below 1.34 USD.There appears to be some hesitation in

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Bernanke Says Fed Will Give Long Term Forecasts, Has Exit Strategy

(CEP News) - The Federal Reserve will start releasing longer five- to six-year forecasts in FOMC minutes, including long-term inflation forecasts, Fed Chairman Ben Bernanke said on Wednesday.In the near term, he said there is little risk of high inflation.Speaking to the National Press Club in Washington D.C., Bernanke touted the effectiveness of unconventional measures recently taken by the Fed and also the Fed's preparedness to exit them.He said the Fed took on

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Deltastock Daily Fx Analysis

April 3, 2009Current level - 99.61A short-term bottom has been set at 87.12 and a large consolidation is unfolding since. Trading is situated between the 50- and 200-day SMA, currently projected at 94.12 and 99.36.Our first target at 100.16 was reached yesterday and the pair is in a corrective mode above 99.+, before advancing towards 100.98.Full Article

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Deltastock Daily Fx Analysis

February 27, 2009Current level - 97.61A short-term bottom has been set at 87.12 and a large consolidation is unfolding since. Trading is situated between the 50- and 200-day SMA, currently projected at 90.78 and 100.29.With yesterday's peak at 98.70 the pair has completed the uptrend from 92.62, so now the bias is neagtive for 96.31, en route to 94.64.Full Article

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Fiscal Stimulus Plans Must Have Long-Term Considerations, Says ECB's Weber

Frankfurt - European Central Bank member Axel Weber said stimulus plans must take into consideration the long-term budgetary impact.We know very well that a confidence-inspiring reaction from increasing the deficit depends first of all on fiscal room for manoeuvre, Weber said at a panel discussion in Madrid on Friday.Weber also noted persisting growth and inflation differentials within the euro zone and blamed them on inappropriate national policies.There are some parts of inflation and output growth differentials that are

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AUD/USD: The Aussie continues climbing; trades around 0.7400

FXstreet.com (Barcelona) ? The Australian Dollar has rallied from 0.6990 low on April 28th to reach maximum levels at 0.7425 on Tuesday?s Asian session, approaching resistance level at 0.7475.According to the E-Forex Team, 0.7475 is an important long-term resistance level: ?The Aussie dollar trades comfortably around the .7400 mark today and is approaching the longer term resistance at .7475/00 - 38.2% retracement of the large decline from .9845 to .6005.?The AUD shows a bullish trend in hourly and daily charts,

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