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Currency Investors Group provides bank news feeds on its site for a variety of reasons. First and foremost, its clients, traders, and trainers have some interest in the state of financial services news across the world. Large banks have made it clear they are now in the retail forex market providing platforms for trading, training, and retail forex investing for their clients.
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Jason Alan Jankovsky Morning Forex Briefing June 30
As we close out the last trading day of the first half of this year the USD is on the defense across the majors but continues to hold existing S/R with only a few exceptions. Traders note that overnight action was busier than the last few days as book-squaring, corporate needs and rumored sovereign activity kept the USD two-way into early New York.
Date from the UK was seen as negative for the GBP but not before a technical rally lifted the pair to start Europe. High prints in the GBP at 1.6746 as stops above the previous high at 1.6660 area attracted active bids; traders note system and model accounts active on the bid in both GBP and EURO. Low prints in the pair at 1.6545 under threat to start New York as poor UK house pricing and weak GDP numbers encouraged a round of liquidation during European trade; the rate back two handles at the 1.6560/70 area to start New York.
EURO is holding up better lifting past offers layered around 1.4120 area for a high prints at 1.4153 as stops triggered above get filled; traders note that the pair is getting some lift from rumored sovereign bids in the EURO crosses and is holding firm around 1.4120. The rate is finding offers to be thicker as the rate rallies suggesting that EURO will top sooner than GBP and if GBP fails at this high it will take EURO with it.
USD/JPY was two-way overnight rising to high prints at 96.33 on follow-on buying from yesterday’s rally but fell back to find stops under the 95.80 and 95.50 area for a low print at 95.30 before bouncing quickly back to the 95.80/90 area in early New York. Traders note cross-spreaders for Yen pairs as leaving the USD/JPY whippy so far today but note that bids are active absorbing offers from model and system accounts.
USD/CHF is holding on the 1.0800 handle to start New York after dropping to a low print at 1.0778 as stops under the 1.0800 area fire off; high prints in Asia at 1.0841 keeping the rate in a tight range ahead of light US data due today. Traders note that two-way action in the rate is likely as the markets continue to fear another round of SNB activity possibly limiting the downside as tech traders appear to be willing to buy dips for short-term gains.
USD/CAD is firm on the 1.1500 handle again holding the important 50 day MA; low prints in the rate at 1.1512 with highs at 1.1579 making for a tighter range as well. Traders note that the rate is coiling for another move but expect stops above the market to fuel a rally as a breakout to the upside would threaten recent signs of a technical resistance area forming under 1.1580 area. In my view, the end of the first half is likely going to but the USD bears back on the offense as the failure to hold important numbers this week after seeing upside threat last week likely makes the bears willing to sell rallies.
USD bulls are working hard to correct oversold conditions in most pairs along with potential for a retest of equities lows driving money to the sidelines remains a real threat. Look for the USD to remain two-way today and firm up into the end of the week. Aggressive traders can look to fade USD weakness the next 24 hours should the USD make a respectable close today.
Jason Alan Jankovsky FOREX Analyst and Trader and Currency Investors Group offer Jason’s Free Report
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Check out my latest book: The Art of the Trade
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Also available my first book: Trading Rules that Work
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Trading in off-exchange foreign currency transactions (FOREX) involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading in FOREX is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more than your initial investment. Opinions, market data, or trade discussion are subject to change at any time.
Jason Alan Jankovsky Morning Forex Briefing June 29
The USD starts the week in two-way action as expected; with overseas economic data light today and with traders focused on US jobs data due out later in the week a quiet start to USD trading is likely into Tuesday’s end of quarter. Traders expect USD sell interest into the close of H1 the next two days offering a floor under the majors but stops are building in case weak shorts decide to book gains ahead of Tuesday’s close. After last week’s intervention (officially unconfirmed) by the SNB traders are carefully trading USD shorts with most ready to cover quickly should more clues of CB activity show up leading to potential whipsaw in the major pairs. Equities start the week mildly firmer perhaps adding a bit of “risk-on” support for the majors but across the board the Greenback remains within existing S/R areas.
UK mortgage approval data came in below expectations putting some pressure on the GBP but the rate is meeting willing bids on dips; low prints in Asia at 1.6426 with highs in late Europe at 1.6550 keeping the rate in a tighter range to start. Traders note offers are staked ahead of 1.6600 with light stops above 1.6580 suggesting a try for the resistance area near 1.6600; also of note are model accounts on the bid suggesting a top may be near or at least a rotation lower from above the 1.6500 handle.
EURO is holding off overnight lows of 1.3981; traders note stops likely on a dip under the 1.3980 area with upside likely contained to the 1.4100/20 area. High prints in the rate at 1.4078 with some sympathy buying in tandem with GBP some desks report. Both the EURO and GBP crosses were active for Yen overnight suggesting repatriation of Yen continues.
USD/JPY is lower holding support at the low 95’s with low prints at 95.13; highs at 95.61 once again met sellers under the 96.00 handle with stops likely building above the figure. Traders note that the pair is continuing to coil with downside risk likely limited to the 94.50 area and upside closer to 97.00 near-term. Likely more FTQ buying may result if tensions with N. Korea increase a bit; traders note that N. Korea tends to “saber rattle” a bit around US holidays as they think people pay more attention to them on those days.
USD/CHF is holding on the 1.0800 handle with lows at 1.0815; high prints at 1.0914 showing buyers are there on dips. The rate is holding tech support so far this morning but traders fading SNB intervention have a lead from the technical double-top at the 1.1020 area. USD/CAD is holding firmer on the 1.1500 handle after dipping to a low print at 1.1519; high prints at 1.1591 making for a tighter range. Traders note the rate needs to close back on the 1.1600 handle to encourage another round of upside but offers around trend line resistance is now around the 1.1620 area along with fib defense at 1.1650 area making the upside more difficult. In my view, the Greenback is continuing to correct the oversold condition but the end of Q2/H1 will likely keep trade two-way and volatile to start the week. Look for the USD to remain range-bound into Wednesday with traders likely unwilling to assume a lot of risk ahead of US data later in the week.
Jason Alan Jankovsky and Currency Investors Group offer Jason’s free report “The Top Ten Mistakes Traders Make” Click Here
Toll Free in the US: 1-866-435-9959
Skype: TheLionOnline
Yahoo chat: TheLion_Chicago
Join me for my daily FOREX newsletters and LIVE FOREX briefings; click here for details
Check out my latest book: The Art of the Trade
Currently an Amazon top 100 bestseller under Business and Futures.
Also available my first book: Trading Rules that Work
Currently an Amazon.com top 100 bestseller under Finance/Futures
Trading in off-exchange foreign currency transactions (FOREX) involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading in FOREX is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more than your initial investment. Opinions, market data, or trade discussion are subject to change at any time.
Jason Alan Jankovsky Currency Trading Morning Briefing June 26
The USD is moderately lower after starting Asia on the defense overnight, overnight news was light and traders see a day of two-way action ahead. Major fundamental news overnight was another repeated call by China for a new supra-national currency for international trade. Although stopping short of blaming the USD for the current global financial crisis the PBOC re-iterated the need for another alternative and called for the Yuan to be included in IMF SDR programs. On the report the USD dropped to lows for the day and remained under pressure into late European trade opening near lows in early New York.
GBP found stops above the 1.6450 area for a high print at 1.6514 with traders noting Mid-Eastern buys on the rally. Traders note overhead resistance at 1.6520 offering a solid cap to start the day. EURO rose above near-term resistance of 1.4040 on the news lifting through light stops for a high print at 1.4101 before stabilizing; lows in the rate were 1.3982 in early Asia. Traders note cross-spreading for
EURO pairs overnight as technical retracements from SNB intervention continued to see back-and-fill two-way action.
USD/JPY failed to advance overnight holding to a 96.06 high print as previous support became resistance at the 96.00 area; lows at 95.38 back at long-term support around the 95.30 area. Traders note that Yen would benefit more from a supra-national currency which may be providing some support to the Yen overnight.
USD/CHF dropped further into deeper support for a low print at 1.850 in early New York; high prints at 1.949 drew offers from traders “fading” the SNB intervention. Traders note the rate is still holding tech support but is under pressure into early New York suggesting a further dip before bids area seen.
USD/CAD is holding up near resistance with a high print at 1.1564 but dropped as other pairs were sold; low prints at 1.1459 in early New York are holding above the 1.1430 area and the rate is consolidating. Should Crude Oil drop today the pressure could be on the Loonie to end the week but the rate is long-term bullish after putting in a strong week and nearing a strong month. With the weekly close approaching it appears the USD will give back gains as profit taking from those on the right side continues into the end of day. With a light economic calendar today technical action is likely and traders need to protect or exit open USD longs by the end of day. Look for the Greenback to remain two-way today; equities were flat overnight and the DJIA is called to open lower so there may be a bit of “risk-off” action today helping to firm the USD but for the most part the lack of follow-on buying after the early rise mid-week suggests a weaker start to the USD next week.
Jason Alan Jankovsky, FOREX Analyst and Trader, offers his free report through Currency Investors Group called “Top Ten Mistakes Traders Make”
Click Here for Your Free Report
Toll Free in the US: 1-866-435-9959
Skype: TheLionOnline
Yahoo chat: TheLion_Chicago
Join me for my daily FOREX newsletters and LIVE FOREX briefings; click here for details
Check out my latest book: The Art of the Trade
Currently an Amazon top 100 bestseller under Business and Futures.
Also available my first book: Trading Rules that Work
Currently an Amazon.com top 100 bestseller under Finance/Futures
Trading in off-exchange foreign currency transactions (FOREX) involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading in FOREX is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more than your initial investment. Opinions, market data, or trade discussion are subject to change at any time.
Top Ten Mistakes Traders Make from Jason Jankovsky
ForexBriefings.com Offers You this Free Report
Jason Alan Jankovsky Forex Morning Briefing June 25th
The USD continues to build on gains yesterday pushing higher across the board overnight; traders note that stops in most pairs again keeping the majors under pressure as they grind lower into early New York trade with a few pairs making overnight lows against the Greenback near the open. Today’s US data likely to be USD-friendly this morning and momentum is with the USD into the end of the week.
Despite “unconfirmed” SNB intervention, which is usually seen as a fade by traders, the USD/CHF is holding near highs and looks set to challenge the next round of stops by long-term shorts around the 1.1030/50 area; high prints in the rate at 1.1018 with the rate holding on the 1.1000 handle into early New York. Lows overnight were 1.0920 suggesting that dips of a reasonable amount are attracting good buyers no doubt due to the technical picture seen yesterday.
Traders note that rate is attracting semi-official names primarily in EURO/CHF on the bid side.
EURO is under moderate pressure but as yet hasn’t followed the other majors sharply lower holding with a low print at 1.3918 and highs at 1.3984 making for a tight range despite volatility elsewhere. Traders note Swiss names on the offer for Mid-East accounts.
GBP is lower pressing into the bottom of the recent consolidation area, low prints at 1.6249 tripping stops around the 1.6380 area as traders press their advantage on the short side. High prints at 1.6469 in Asia were on low volume suggesting follow-on selling into the Tokyo fix as possibly longer-term accounts see the 1.6600 area as a cap looking for a failure under the 1.6200 as confirming a near-term top.
USD/JPY is higher pressing to a high print at 96.58 as stops above the 96.00 handle get cooked, lows at 95.60 drew bids as equities firmed overnight in Asia but New York stocks look set to open softer suggesting the USD/JPY may suffer some whipsaw after the past 24 hours of one-way action. Rounding out the clean sweep for USD strength is USD/CAD, high prints at 1.1640 in early New York as stops over the 50 day MA get triggered. The rate is set to challenge trend line resistance around the 1.1680 area with stops likely on the other side. Near-term target for open longs in the rate still around the 1.1840/50 area. In my view, the Greenback is set to finish the week stronger as most technical levels have either held as support or been broken as resistance with only minor pullbacks before the USD rallies further. US data has been benign or possibly friendly and trader sentiment is now beginning to turn from aggressive bears to neutral and the oversold condition of the USD is beginning to convince most analysts that we are in the midst of a correction.
Broad USD index traders see room for a bounce in the USDX to the 82.00 area suggesting that most of the majors will fall through recent monthly support near-term putting the USD on the offensive into the end of the month and into July. Look for today’s data to pressure US equities today suggesting that the USD may get another leg higher in New York trade today.
Jason Alan Jankovsky and Currency Investors Group offer “Top Ten Mistakes Traders Make” in a free report: Click Here
FOREX Analyst and Trader
Toll Free in the US: 1-866-435-9959
Skype: TheLionOnline
Yahoo chat: TheLion_Chicago
Join me for my daily FOREX newsletters and LIVE FOREX briefings; click here for details
Check out my latest book: The Art of the Trade
Currently an Amazon top 100 bestseller under Business and Futures.
Also available my first book: Trading Rules that Work
Currently an Amazon.com top 100 bestseller under Finance/Futures
Trading in off-exchange foreign currency transactions (FOREX) involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading in FOREX is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more than your initial investment. Opinions, market data, or trade discussion are subject to change at any time.
Self Directed IRA’s in Forex Investing
Currency Investors Group, LLC will soon be offering through the assistance of facilitation experts, CPA’s, and forex dealers, an option for IRA and 401K owners to self direct portions of their accounts and trade the accounts in the currency markets. We gladly share this web content as part of our continuing education to forex traders.
From Investopedia:
In the U.S., one of the best ways for individuals to protect their income from taxes and save for retirement is by using an individual retirement account (IRA). IRAs come in many forms that can be tailored to specific individual preferences. However, significant rules and regulations have been developed and initiated by the IRS and the U.S. Treasury department that can make the use of IRAs quite confusing. Two of the main IRAs are self-directed IRAs and Roth IRAs.
Self-directed IRAs are ones that are controlled by the individual. These accounts are established between the individual opening the account and a stockbroker. The individual is then in control of all the money that he or she wishes to invest. Roth IRAs can be opened through a broker, mutual fund or bank. Contributions made toward a Roth IRA are made on an after-tax basis; however, the key to the Roth IRA is that it provides tax-free growth.
Fortunately, individuals who have self-directed IRAs or Roth IRAs can trade in the forex market as an investment. In order to do this, a forex trading IRA must be opened. Individuals who do this benefit greatly from being able to day trade tax free. Using forex within a retirement plan also provides added diversification that can be used to add stability to an investor’s returns. Furthermore, individuals who already have assets invested in other IRA accounts are able to transfer those assets into a forex IRA account by filling out the necessary paperwork.
As with traditional IRAs, forex IRAs can either be self-directed by the individual opening the account, or managed by a professional forex manager.
To learn more, see Tax-Saving Advice For IRA Holders, Ten Tips For Achieving Financial Security and Traditional IRA Deductibility Limits..
Jason Alan Jankovsky Forex Morning Briefing June 24th
The USD is enjoying a slight rebound to start New York after overnight action saw the USD head a bit farther south on follow-on selling. Traders note that system accounts were sellers of Greenbacks for EURO and GBP along with large Middle-East names on the bid for Cable. Russian names seen buying Sterling as well making for a higher move in Cable relative to the other pairs.
GBP high prints at 1.6604 drew protective and technical selling with many of the same names selling into the move. Low prints in the rate at 1.6412 overnight and the rate is off the highs and steady around the 1.6560 area to start New York. Aggressive traders can look to sell GBP for a move to the bottom of the recent consolidation; highs over the 1.6600 handle likely to be rejected on further strength in my view.
EURO is firm around the closing range from Tuesday after extending highs overnight largely in sympathy with GBP; high prints at 1.4139 with option protection noted ahead of 1.4150. Traders note that EURO crosses are also firm suggesting bids for EURO across the board; low prints in Europe at 1.4054 keeping the rate on the 1.4000 handle for the first time since June 12 but traders wan of stops building under the 1.4020/30 area with more from late longs under the 1.4000 handle.
USD/JPY saw early demand for Yen lifting the rate to the highs at 95.67 before the release of Japan data; Japan trade surplus fell over 12% in May and traders sold USD/JPY for lows at 95.01 before the rate found willing bids. Traders note corporate names on the bid; likely importers.
USD/CHF is making highs in New York firmly rejecting the lows seen overnight at 1.0631; high prints at 1.0804 at this writing. Technically oversold the USD/CHF drop yesterday was likely overdone and today’s sharp recovery suggests the rate will likely end better on the week as the monthly opening range held on a closing basis.
USD/CAD has seen some technical selling dropping the rate to support at the 1.1430 area with a low print at 1.1427 before bouncing back to the 1.1470 area. High prints overnight at 1.1515 were sold in Asia as follow-on selling opened the evening. Aggressive traders can look to add to open longs in the rate for a test of the 1.1680 area near term. In my view, the USD sell-off yesterday was overdone and likely a bear-trap; at the start of New York trade most of the USD pairs are under upward pressure making the sell-off a potential head-fake. Traders don’t anticipate any changes in US Fed policy when the
FOMC makes their announcement this afternoon and possibly the sell-off yesterday was in anticipation of a bearish report. It is likely that solid bids are supporting the greenback and will continue to support during the day. US housing data is not expected to show surprises and most traders are looking for technical S/R to determine today’s action. Stops a likely building on both sides of the market so be ready for whipsaw.
Jason Alan Jankovsky and Currency Investors Group offer “The Top Ten Mistakes Traders Make” free of charge. Click Here for Your Copy
FOREX Analyst and Trader
Toll Free in the US: 1-866-435-9959
Skype: TheLionOnline
Yahoo chat: TheLion_Chicago
Join me for my daily FOREX newsletters and LIVE FOREX briefings; click here for details
Check out my latest book: The Art of the Trade
Currently an Amazon top 100 bestseller under Business and Futures.
Also available my first book: Trading Rules that Work
Currently an Amazon.com top 100 bestseller under Finance/Futures
Trading in off-exchange foreign currency transactions (FOREX) involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading in FOREX is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more than your initial investment. Opinions, market data, or trade discussion are subject to change at any time.
Jason Alan Jankovsky Currency Trading Training Videos Now Available
Visit our Jason Alan Jankovsky video page for five videos prepared by Jason. These videos will help the novice trader as well as the experienced investor.
Click Here now for these great free videos from Currency Investors Group
