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Home Forex Forex Trading Updates and Views Forex trading: Commentator roundup
Forex trading: Commentator roundup PDF Print E-mail
Written by Sam Coventry   
Monday, 21 June 2010 12:09
Forex trading views, insight and technical pointers.


Trading Dollar Yen


Standard Chartered forex analysts say the USD JPY pair will maintain a flat momentum for now ahead of 89.20 initial support.

The team at Delta Index have highlighted a MACD Crossover on the USD JPY.

"Signal: Sell @ 9061, Stop 9176, Initial target 8839," reads a morning note.  

Easy Forex, the forex trading providers, say, "The USD JPY pivot point is at 90.45 with a preference to enter Long positions at 90.50.

Euro Dollar trading


Standard Chartered forex trading analysts see a an upside correction extending to 1.2670

Spread Co say: "50 SMA on hourly chart supporting €/$ @ 1.2390, next supp @ 1.2350, main support @ 1.2245. Main res @ 1.2670"

"The EUR USD pivot point is at 1.2350 with a preference to enter into Long positions at 1.2360," say Delta Index.

Simon Denham at Capital Spreads, the forex spread betting providers, says:

"The Euro had a look above 1.2450, albeit briefly and is hanging onto ground around the 1.2425 level. This area could offer up some resistance as it was one of the supports on the way down, however you have to admire the currency’s resilience in its recent grind higher from below the 1.2000 level.

"The bears are continuing to be squeezed, but there’s still little doubt as to the prevailing trend. The rate is also just below the 50-day moving average, so bears will be expecting a pull back from this recent rally."

Trading the Pound


Standard Chartered say upticks to 0.8400/0.8440 are expected to draw out sellers again.

China: Talk of the forex markets


China's exchange rate strengthened Monday while the central bank warned the value of the yuan would not dramatically rise due to the greater flexibility on its exchange rate.

Traders anticipate a stronger yuan will make dollar-based commodities such as oil cheaper in China and bolster demand. The policy shift also suggests China's officials believe its economy is growing enough to absorb any slowdown in exports a stronger currency may cause.

"The decision signals policymakers' confidence about China's economy and, to a lesser extent, the global recovery," Capital Economics said in a report. "This should be positive for commodities and equities both in China and the rest of the world."

Stocks in Europe jumped Monday morning as Britain's FTSE 100 added 1 percent while the Dow Jones benchmark was set to rise 1.2 percent on the open later on Monday.
Last Updated ( Monday, 21 June 2010 12:17 )