Forex Scams

U.S. Industrial Production Rose in June

admin — Fri, 15 Jul 2011 14:49:06 +0000

U.S. industrial production (IP) rose 0.2% in June, just below market expectations for a 0.3% increase. The monthly increase follows declines of 0.1% in both April and May (previously reported as a flat reading and 0.1% gain, respectively). With the modest increase in IP, the capacity utilization rate held steadyhttp://feeds.actionforex.com/~r/ActionForexall/~3/oUI9m1Qg3kk/

U.S. CPI Declines for the First Time in a Year, but Core Inflation Edged Higher

admin — Fri, 15 Jul 2011 14:47:52 +0000

Consumer prices fell 0.2% in June, exceeding the 0.1% decline expected by the market. The monthly decrease in June is the first since June of 2010. The year-over-year rate of increase held steady at 3.6%, the fastest annual pace of increase since October 2008 when headline CPI posted a 3.7%http://feeds.actionforex.com/~r/ActionForexall/~3/ymOfi5kfvm0/

Canadian May Manufacturing Sales Drop More than Expected

admin — Fri, 15 Jul 2011 14:46:34 +0000

The May manufacturing sales report indicated more weakness than anticipated dropping 0.8% as it compared to a lesser 0.2% decline expected. It, however, represented an improvement from the 1.3% drop in April. Prices seemed to play a limited role in the overall decline with the volume of manufacturing sales alsohttp://feeds.actionforex.com/~r/ActionForexall/~3/NMZMVt4Sy2w/

Mid-Day Report: Euro Remains Locked in Tight Range ahead of European Banks Stress Test Results

admin — Fri, 15 Jul 2011 14:37:24 +0000

The greenback has little changed after the release of much weaker-than-expected June U.S. Empire State manufacturing index as traders await European bank stress test results. The Empire State manufacturing index showed a negative figure for two consecutive months, a general sign of recession, this month’s number also made the 3-monthhttp://feeds.actionforex.com/~r/ActionForexall/~3/OdF3ZE9Fa84/

Politics Poisons Debt Debate

admin — Fri, 15 Jul 2011 14:30:27 +0000

The Eurozone crisis plumbed new depths this week with Eurozone finance ministers suggesting the need for Greece to default on some of its obligations. Contagion washed across the currency area with Spain and Italy high profile casualties, with the latter prevaricating in passing a €40bn austerity deal. The publication ofhttp://feeds.actionforex.com/~r/ActionForexall/~3/latqWlozGwY/

EUR/GBP Attempting to Confirm Bearish Breakout

admin — Fri, 15 Jul 2011 14:15:24 +0000

The EUR/GBP broken below a rising channel yesterday, and we saw a corrective rally ahead of the US session.

In this session of the week, we are seeing an attempt to confirm the breakout.

A break below 0.8748 further confirms the breakout, as well as a dip in the RSI reading belowhttp://feeds.actionforex.com/~r/ActionForexall/~3/rF96RYvaYy8/

So Is It Inflation, or Was It Just Gas?

admin — Fri, 15 Jul 2011 14:07:41 +0000

Gasoline prices fell 6.8 percent in June, as the price of a gallon of regular unleaded gasoline fell from close to $4.00 a gallon in May down to $3.65 a gallon in late June. Prices for fuel oil and electricity also declined in June, which helped pull overall energy costshttp://feeds.actionforex.com/~r/ActionForexall/~3/ZqCoR6Sq9fU/

Is There A Chance Markets Shrug Off the Bank Stress Test Results?

admin — Fri, 15 Jul 2011 14:03:31 +0000

The action so far, prior to the release of the Euro-zone bank stress test results, has been calm “the quiet before the storm” perhaps but the EUR/USD is still a bit weaker that where it was early Thursday following Wednesday’s warning to the US that its credit ratinghttp://feeds.actionforex.com/~r/ActionForexall/~3/MbTuAR9eBs4/

GBP/USD Completes ABC Correction; Bullish Momentum Tested

admin — Fri, 15 Jul 2011 14:01:08 +0000

After clearing the US CPI risk event, the GBP/USD remains in teh same dynamic as before it, in consolidation after a strong rally earlier this week.

Note the bullish momentum is being tested as the RSI reading hammers at 40. The reading should remain above 40 to maintain the bullish momentum.

Pricehttp://feeds.actionforex.com/~r/ActionForexall/~3/3XMUic57WDU/

USD/CHF has a Swing Projection to 0.8240 to Complete a Gartley

admin — Fri, 15 Jul 2011 13:58:26 +0000

The USD/CHF is in a corrective rally after a sharp decline to start the week.

The RSI reading is above to push above 60. That signals a more significant corrective rally, and invalidates short-term bearish momentum.

An RSI reading above 70, and market pushing above the 0.8275 pivot spells trouble for thehttp://feeds.actionforex.com/~r/ActionForexall/~3/5JTCyfDAdHo/