Cross On The Hourly Chart's

Despite the small gains made by the euro in trading yesterday, analysts are quick to warn that the common currency still has room to fall if negative news continues to be released from the euro-zone. While there is a light news day today, traders will still want to watch out for any developments from the meetings between France and Germany which could affect euro pairs. Economic News USD - USD Takes Slight Losses but Remains Bullish Overall The US dollar took slight losses against its main currency rivals throughout the trading day on Monday, as fears that the dollar was becoming too strong dominated market sentiment. The EUR/USD came off its recent 15-month low, but failed to gain enough momentum to stage a meaningful correction. The USD/JPY also continued to fall throughout the day ...

Confidence and trade reports from the US and Canada last week portrayed a global economy somewhat stronger than what many had expected. The balance of imports to exports last Friday revealed a growing market, with smaller deficits, as businesses across the United States and Canada begin seasonal hiring for the holidays. Economic News USD - US Dollar Dips as Trade Data Supports Growth The US dollar (USD) was seen trading mildly bearish Monday morning as traders saw a small decline in risk aversion following last week's economic reports. The EUR/USD rose following the completion of a long-term consolidation trend, reaching a 4-day high. The GBP/USD saw somewhat higher gains, with the greenback inching the pair towards last week's early high. Confidence and trade reports from the US and ...

Global reports on the trade activity and budgeting will be released today from several major economies. News of this kind tends to have a delayed effect, but volume should be heightened in today's later trading sessions. On tap for these reports is the trade balance figure from China, Great Britain, Canada, and the United States, in that order. Economic News CAD - Canadian Dollar Falls ahead of Trade Balance Data The Canadian dollar (CAD) was seen moving lightly bearish late Wednesday as investors fled the higher yielding assets from speculation on a market downturn following recent releases on manufacturing. A weaker-than-forecast uptick in US private sector employment last week added to risk sensitivity for many investors, leading some to await today's news before entering more ...

The euro was indeed seen gaining a foothold against the USD following the European Central Bank's (ECB) latest announcement regarding interest rates, known as the Minimum Bid Rate. Stuttering mildly ahead of the decision, there was an atmosphere of EUR stability in the market prior to the statement by ECB President Jean-Claude Trichet. Economic News USD - USD Stable ahead of Friday's NFP Data The EUR/USD was seen moving somewhat bullish late yesterday as investors anticipate a return to risk aversion, but also optimism towards today's Non-Farm Payroll report. An uptick in US private sector employment Wednesday added to risk-taking sentiment by many investors, but fears of European debt contagion are overshadowing the rise. Should today's Non-Farm Payroll (NFP) data continue this trend ...

The U.S. ADP Non-Farm Employment Change is the primary publication today that is set to determine the level of the USD when it is released at 12:15 GMT. The other main releases that are set to dominate trading, especially for currencies such as the Dollar and EUR is the publication of the Retail Sales from the Euro-Zone at 9:00GMT and Crude Oil inventories at 14:30 GMT. Traders may find good opportunities to enter the market following these vital announcements. Economic News USD - Dollar Falls Broadly against the EUR on Fed's Comments The US dollar fell against the EUR on Tuesday after Federal Reserve Chairman Ben Bernanke said the central bank is prepared to take further steps to help the economy. By yesterday's close, the dollar fell 1% against the EUR to 1.3276. Federal Reserve ...

Looming over the current ECOFIN meetings in Brussels, Belgium, is the arrest of Dominique Strauss-Kahn (also referred to by the media as DSK) regarding an alleged attack on a hotel maid while on a trip in New York City. Strauss-Kahn is currently serving as the Managing Director of the IMF and is a member of the Socialist Party of France. Many forex traders had assumed the current finance meetings would provide perspective into the region's debt woes, but this media distraction has many large investors looking for safety instead of higher yields, creating a range-trading behavior for the EUR. Economic News USD - US Dollar Mixed as Traders Eye Manufacturing and Housing Data The US dollar was trading with mixed results yesterday after traders began to hedge on their euro positions given ...

The euro zone published its consumer price index (CPI) reports yesterday which showed solid, stable inflationary growth, year-on-year. The core data also showed better growth than was expected. This data generated a heightened intrigue in the comparative interest rates between America and Europe as risk sentiment got shifted. The result was for the interest rate bulls to outpace the debt woe bears in yesterday's session, driving the EUR higher versus the USD. Economic News USD - US Dollar Slides After Day of Soft Data The US dollar opened this week moderately stronger versus the euro yesterday as traders continued last week's shift into safer assets. As of late trading yesterday, however, the EUR/USD pair seems to have shifted back into a bullish posture as traders return to interest ...

The US dollar experienced a euphoric jump yesterday morning following an announcement from President Barack Obama that Osama bin Laden had been killed in a military raid in Pakistan. Dollar bears continued to move out of the greenback, however, in exchange for higher yielding currencies immediately following the surprise jump, as record low interest rates remain a prominent factor in America's currency valuation. Economic News USD - Euphoria Over Bin Laden Death Not Enough to Sustain USD Gains The US dollar experienced a euphoric jump yesterday morning following an announcement from President Barack Obama that Osama bin Laden had been killed in a military raid in Pakistan. Dollar bears continued to move out of the greenback, however, in exchange for higher yielding currencies ...

With Europe still on holiday in observance of Easter, today's markets will be highly illiquid, making most currencies continue to trade within tight ranges until the opening of trading on Tuesday. Tomorrow's news should be much more affecting on the region's currency values, but as for today traders may want to look to the USD for market direction with its impactful housing report scheduled for 15:00 GMT. Forex Market Trends EUR/USD GBP/USD USD/JPY USD/CHF AUD/USD EUR/GBP Daily Trend Weekly Trend Resistance 1.4645 1.6595 83.10 0.8950 1.0819 0.8905 1.4622 1.6573 82.80 0.8925 1.0789 0.8882 1.4591 1.6540 82.48 0.8887 1.0755 0.8851 Support 1.4530 1.6480 81.85 0.8826 1.0690 0.8779 1.4499 1.6448 81.53 0.8790 1.0658 0.8747 1.4472 1.6425 81.32 0.8771 1.0635 0.8725 ...