Submitted by BBFX Blogger on Fri, 09/30/2011 - 07:28
Taking a look at the SPX 500, we now sit about 10 points lower than yesterday's close (as of 8:00am). The 1,150.7 (.236 Fib) seems to have held up well as a support level since Wednesday. Today being the quarter close we will see if it can remain supported above this level. If the 1,150 is clearly broken, we should expect additional declines in commodity pairs such as AUD/USD and NZD/USD.
Submitted by BBFX Blogger on Wed, 09/28/2011 - 11:08
Taking a look at the markets (as of 11:45 am) Europe in the red, while the U.S. markets remain mixed. EFSF trying to resolve Greece's debt crisis seems as if default is inevitable. If markets close negatively for the U.S. we may see Bernanke fuel the fire with QE3 no longer on the table and the quarter coming to an end.
Submitted by BBFX Blogger on Wed, 09/28/2011 - 08:26
Swiss Franc is known to be a safe haven currency, but the SNB setting a floor peg of 1.20 on the EUR/CHF it has formed a base off of 0.70 area. USD/CHF has continued retrace off of last week's high of 0.9181 and would expect further declines as equities rally. To push this pair upwards we would need liquidity in the US Dollar created by Euro zone debt crisis or a decline in equities. Fundamentally the USD is no safer considering its low growth and high unemployment, but the SNB intervening has set the Franc to depreciate.
Submitted by BBFX Blogger on Wed, 09/28/2011 - 07:09
Taking a look at the SPX 500 we sit about 6 points higher from yesterday's close (as of 7:45am). Yesterday we broke through the 0.382 fib at 1,193 a former resistance point and later declined. We have Core Durable Goods report at 8:30am and speech by Bernanke at 5:00pm where sentiment could change. We may continue to see gains as fear lies temporarily at rest, however we are reaching 1,200 level again and would take caution.
Submitted by BBFX Blogger on Tue, 09/27/2011 - 08:10
USD/CHF major trend is upwards, but short term the trend is down. With a rally in equities the US Dollar is set for declines. USD/CHF has broken below 0.90 and would look to buy in the low 0.89XX area.
Submitted by BBFX Blogger on Tue, 09/27/2011 - 07:32
EUR/USD has continued to gain ground off of last weeks low of 1.3361. Greece is to received $148B bailout with policy approval, but still looks to default on its debt by October. If looking to get in on this pair, it would be best to wait until the rally losses steam and sell with market confirmation.
Submitted by BBFX Blogger on Tue, 09/27/2011 - 06:18
Taking a look at the SPX 500 which is up about 15 points (as of 7:00am ET) from yesterday's close. I would expect further rallies as we are still in consolidation from 1,110 to 1,220 area. If the SPX 500 tests the 1,200 area, expect to see commentary and fear in the markets once again. Another sell off in equities will cause the US Dollar to rally as traders look for liquidity. We've had talk of equities from Apple to Berkshires buyback, which is almost irrelevant compared to Greek default and Euro Tarp.
Submitted by BBFX Blogger on Mon, 09/26/2011 - 11:30
Taking a look at USD/CHF (as of 12:05pm) we now sit at .90414, which is where we sat after the dust settled from operation twist announcement. Buying on dips, short term 0.90 area may be good area to carry a bounce up to 0.91 area. Major news events such as SNB setting EUR/CHF floor of 1.20 and FED policies have forced this pair upward.
Submitted by BBFX Blogger on Mon, 09/26/2011 - 10:46
With new rumors of Euro Zone falling apart everyday and SNB setting a floor peg to the Euro, trading can be extremely volatile. Buying on dips on EUR/CHF and selling rallies on EUR/USD can offset rolls and reduce risk. Buying EUR/CHF in the mid 1.21's and selling EUR/USD in upward 1.35-1.36 could play out if sentiment continues, but be careful as trends can change in seconds.
Submitted by BBFX Blogger on Mon, 09/26/2011 - 09:58
Taking a look at the SPX 500 (as of 10:45) we sit nearly flat from Fiday's close. We have continued to stay in the 1,200 to 1,100 range ever since the down grade of the U.S. by Standard & Poor's. Last weeks the announcement of Operation Twist and margin hikes in Gold, we saw a selloff pushing the safe haven down to 1,600. The only place to hide seems to be the US Dollar with its liquidity.