Archive for January, 2010

Jan
18

British Pound Continues to Retrace

Posted in Euro, Forex Education, Trading & Investing, World News.

Talking Points

•    Japanese Yen: BoJ to Maintain Accommodative Policy

•    Pound: U.K. Home Prices Increase for Fourth Month

•    Euro: ECB Concludes Swap with SNB

•    US Dollar: Risk Trends to Drive Market Volatility

British Pound Continues to Retrace the Decline From December, Euro Remains Supported by 200-Day SMA

The British Pound crossed back above the 50-Day SMA (1.6338) during the overnight trade to reach a high of 1.6381, and the GBP/USD may continue to retrace the decline from December as market participants raise their appetite for risk. Meanwhile, Ernst & Young’s Item Club held a cautious outlook for the U.K. and said that the region faces a “challengingâ€? year as households face a weakening labor market paired with tightening credit conditions, and forecasts the growth rate to increase at an annual pace of 1.0% in 2010 as the expansion in monetary and fiscal policy continues to feed through the real economy. Read more…

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Jan
07

Gold Enjoys Big Move in 2009

Posted in Forex Education, Trading & Investing, World News.

NEW YORK (TheStreet) — 2009 was a golden year with bullion making a $340 upwards move (+35%) from Jan. 3 to the Dec. 26 highs.

At the same time the Usd was the one of weakest currencies in global trade. However, since Dec. 3 and the last U.S. non-farm payroll report, gold has declined by more than $150 (-12%) in just three weeks, as shown on this chart.

The three-week gold move has fed off very strong down-side momentum, and a freshly broken trend-line suggests that this may be a near-term, first leg, of something larger to follow. The Elliott Wave team at the TheLFB.com will monitor gold weakness and Usd strength in the first part of 2010. Read more…

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