AUD/USD Breaking to Higher Ground

The market took its time to digest last week’s good Australian news, but now it finally made the break above the stubborn resistance line. Update on this strong currency.
AUD/USD finally broke above the stubborn resistance line of 0.9090 for the first time after 6 weeks. The pair currently trades at 0.9130, settling above the line.

Forex Daily Outlook – March 3rd 2010

Today’s highlights are the Australian GDP and American ADP Non-Farm Payrolls, which will raise the tension towards Friday’s big event. Let’s see what’s up for today.
The low expectations for Friday’s Non-Farm Payrolls are favorable for the dollar. Here’s my Non-Farm Payrolls preview. Let’s start today’s review:

Aussie Rides the Rate Hike

The Australian dollar enjoyed the rate hike and approached a technical resistance line. A break of this line depends mostly on the upcoming GDP. Update on technicals and fundamentals of this strong currency.
The Reserve Bank of Australia lifted the interest rate for the fourth time since the outbreak of the financial crisis. Australia’s Cash Rate [...]

Forex Daily Outlook – March 2nd 2010

The week began with a strong start, especially for the British Pound, which was knocked down. Today, more important events are awaiting us with rate decisions in Australia and Canada being in the limelight. Let’s see what’s up for today.
Australian action starts the day: Retail Sales made a nice leap last month, rising by 2.2%, [...]

CAD Overcomes Dollar Storm On Strong Economy

USD/CAD is now falling and approaching an important resistance line. This happens as the US dollar is strong, with traders focusing on the collapse of the Pound. The loonie has reasons to rise – a strong economy that is accelerating. The pair is now facing a test:
The dollar is storming through the markets. This is [...]

How a Jobless Recovery Looks in Forex – Non-Farm Payrolls Preview

The US economy is growing, but without a gain in jobs. A loss of jobs will also be seen in the upcoming Non-Farm Payrolls release on March 5th. How will this impact forex trading? Here’s a preview.
On one hand, the American economy is growing nicely. I had doubts about the first release that showed an [...]

Forex Daily Outlook – March 1st 2010

The first day of March brings a busy calendar which isn’t typical for Mondays. Canadian GDP, European Unemployment Rate and American ISM Manufacturing PMI will stand out today.
As time goes by this week, trading will be more and more influenced by the tension towards the Non-Farm Payrolls. I suggest being careful with this event. OK, [...]

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