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March 24, 2008

Forex Trading Strategy: Taiwan Dollar

Currency trading with the Taiwan dollar

Forex trading strategy should consider the Taiwan dollar. Right now, the Taiwan dollar is a top performer in currency trading on the FX market. And, with a new president pledging to improve ties with China as a way to boost the economy, the Taiwan dollar is receiving further support. Bloomberg reports on the currency trading with the Taiwan dollar:

The government has a ``strong mandate'' and ``the market will take this positively for sure,'' said Albert King, who manages $10 million as chief investment officer at Prophet Capital Inc. in Taipei. ``The currency has been outperforming the rest of the world.''

March 24, 2008

Forex Trading Forecast: Dollar/Yen

Will US dollar strength remain in currency trading

Even as US dollar strength resumes in trading this week on the FX market, some analysts believe that it won't last.

-Currency Analyst

Even as US dollar strength resumes in trading this week on the FX market, some analysts believe that it won't last. Forex trading forecast for the dollar/yen has some believing that something below 96 yen is likely in the coming weeks. Bloomberg reports on the forex trading forecast for the US dollar:

``It's best to view the pennant as merely a pause in the dollar's downward trend,'' said Suzuki. ``The dollar's likely to head lower and there are few signs it will find a bottom soon.''

March 23, 2008

Daily Market Commentary

Forex Market Commentary for March 27, 2008 by Cornelius Luca

Free Forex Forecasting Daily Market Commentary

The FX markets were basically closed on Good Friday. With Europe closed but with Canada and the US in, trading should be quiet on Easter Monday.

Euro/dollar

Euro/dollar consolidated after sink earlier last week. A peak is probably in place, but more weakness will help.

Immediate support is now at 1.5400. Below 1.5340, there is further support at 1.5285.

Initial resistance is at 1.5470. The next level is 1.5520. Above 1.5590, resistance now comes at 1.5665.

Oscillators are declining.

SHORT-TERM: Mixed
MEDIUM-TERM: Mixed
LONG-TERM: Increase

Dollar/yen

Dollar/yen remained within an inside range. Choppy trading is likely today.

Initial support comes at 99.00. This is followed by 98.46. Distant support is at 95.75.

Immediate resistance is now seen at 100.25 from a 50-point pivot, which targets 99.75 and 100.75. Above 100.45, the next levels are seen at 101.25 and 101.90.

Oscillators are mixed.

SHORT-TERM: Mixed
MEDIUM-TERM: Mixed
LONG-TERM: Decrease

Sterling/dollar

Sterling/dollar did nothing on Friday. Sideways trading should dominate today.

Initial resistance now comes at 1.9885. This is followed by 1.9960 and 2.0005. A break above 2.0085 would signal another further rally to 2.0250.

Immediate support is now seen at 1. 9765. Below 1.9690, the next level follows at 1. 9585.

Oscillators are falling.

SHORT-TERM: Mixed
MEDIUM-TERM: Mixed
LONG-TERM: Mixed

Dollar/Swiss franc

Dollar/Swiss marked time on Friday and Monday should be the same. My model is long and the upside is favored, but today should be quiet.

Initial resistance remains at 1.0165. This is followed by 1.0200. The next level is 1.0320.

Immediate support is seen at 1.0040. Below 0.9965, distant support is now pegged at 0.9870.

Oscillators are rising.

SHORT-TERM: Mixed
MEDIUM-TERM: Decrease
LONG-TERM: Decrease

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