trading801's Koala Forex Articles and EUR/USD views

Dollar Rises as Bernanke Says Fed Ready to Tighten on Recovery

Oct. 9 (Bloomberg) -- The dollar rose the most in two months against the yen after Federal Reserve Chairman Ben S. Bernanke said the bank is ready to tighten monetary policy once the economy improves, increasing the appeal of U.S. assets.

thanks buddy .. u doing good for trade ?

hi to all welcome .. u can visit www.thegeekknows.com for forex articles !

Good morning here in my little country!!!!

Good morning buddies, haven't post anything upto now because I has sleeping and yesterday went to eat with my family.

So hows everything today, things looks nice, good move, hope you made some money!!!!

Not bad, 1.4719 is very hard support and market is between daily pivot and S1(1.4719). good for scalp

Totally right masoud123.

hey buddies .. i chose to stay out today... 1.4719 is a very impt point .. previous high as i mention in the articles

Afternoon Forex Market Session Overview

Previous session overview

The dollar was higher early Friday in New York, extending gains made overnight on the back of comments by Federal Reserve Chairman Ben Bernanke on the eventual tightening of U.S. monetary policy.
A better-than-expected report on the U.S. trade balance in August released early Friday also gave the dollar support.
The U.S. trade deficit unexpectedly narrowed for the first time in four months, with exports rising to their highest level of the year and imports easing despite higher oil prices. The weak dollar aided the narrowing in the trade balance.
Bernanke said in a Thursday evening speech the central bank would be ready to tighten monetary policy and shrink its bloated balance sheet once the economy improves.
Loose monetary policy and ultra-low interest rates encourage investors to use the low-yielding dollar to fund bets in riskier assets, such as commodity-backed currencies like the Australian dollar.
The dollar lost ground Thursday after a perfect storm of events, including better-than-expected U.S. corporate earnings, a no-surprises day of central bank meetings and rising equities teamed to heighten risk appetite.


Market expectation

Despite the two-way nature of overnight action the USD is holding on to slight gains in most pairs as the Bernanke comments showed clearer that the Fed is going to respond to support the USD when needed; the oversold condition needs to be corrected and the bears have their warning shot this morning. Should the USD fall back and press again toward new lows traders think the buyers will step in quickly. In traders view, the late sellers are the only ones pressing the Greenback lower at this point and the relief rally could happen at any time.

Dukascopy.

....With US Trade Balance providing very little stimulation to the markets, the afternoon session has seen a bit of a reversal of fortunes again for currency markets; profit-takers have edged the USD back up (DXY 76.30), and gold has struggled against a headwind of supply at $1050 (currently $1047). We expect the market to trade sideways for the rest of the afternoon as markets balance the temptation to keep selling the USD with paring back risk ahead of next week's big earnings releases.

AC-Markets

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Oct. 9 (Bloomberg) -- Job openings in the U.S. fell in August to the lowest level in at least nine years, signaling the economy hasn’t improved enough to prompt companies to take on more staff.

masoud and forex4 trading now?

I trade only in London session but usually Fridays I do not trade 2 or 3 hours before the London market closed. I just look the market and price actions.

I won and lost a couple, at the end, loss more that win, hehehe, I will stay away of crazy fridays, the good thing, I was on a DEMO account, just to see if my fridays nightmare pass away, but DON'T,

Latest Article 9 Oct 09

EUR/USD takes profit

"Good day to all,

our currency pair fell below 1.4700 today.

Being the end of the week, profit taking of the surge up may be the cause.......... "


Click on link above for full article

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Oct. 9 (Bloomberg) -- U.S. stocks rose, extending the market’s biggest weekly advance since July, as analyst recommendations spurred gains in technology and commodity shares. The dollar rose, while gold and Treasuries retreated.

Oct. 9 (Bloomberg) -- The U.S. trade deficit unexpectedly narrowed in August as exports climbed to the highest level of the year and oil imports plunged.

I made 150 pips this week, hurray!!!! recovering , more to go... I will use my first account to practice more, will change it to micro lot, and keep this with mini lots, so I can learn more. 250 pips Month to date. I did today some mistakes on my demo account it was gooood it was my DEMO , and by the way I learned another thing, that has a low risk scalping... it was a good day, and good week after all, nice to see a lot of people made good amount of pips... Thats all for today, see ya next week...

good job !!!!!!!!!

Latest Article 9 Oct 09

EUR/USD takes profit

"Good day to all,

our currency pair fell below 1.4700 today.

Being the end of the week, profit taking of the surge up may be the cause.......... "


Click on link above for full article

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Oct. 9 (Bloomberg) -- U.S. stocks rose, sending the Dow Jones Industrial Average to a one-year high, as analyst recommendations spurred gains in technology and health-care shares. The dollar and oil rose, while gold and Treasuries fell.

hows yr weekend so far ?