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The London session saw some impressive price action and the overall flavor was a much higher US dollar. Talk that the US fiscal stimulus package could total $775 billion and that about $300 billion will come via tax cuts looks to be putting a good near-term bid under the buck here. In that this would help the US economy beat others around the world towards recovery, it is very positive for the greenback. EUR/USD got absolutely decimated and plunged -350 pips into the 1.3580 zone. GBP/USD was

- Euro Tumbles on Dovish ECB Comments, Euro-zone CPI Could Exacerbate Sentiment on Tuesday - British Pound Shows Signs of Life as Gilts Yields Rocket Higher US Dollar Ends Day Mixed, Could See Directional Moves on Releases of ISM Services, FOMC Minutes The US dollar ended the day mixed across the majors once again, as the currency gained against the euro, Swiss franc, and Japanese yen but fell versus the British pound and the commodity dollars as oil rose toward $50/bbl. There were no

I view the Homebuilding Sector ETF (AMEX: XHB) chart pattern from October as a developing base that is maturing ahead of a counter-trend period that should propel prices above the December recovery high near 13.80 towards a confrontation with the declining 200 DMA, now at 17.48. However, initial resistance along the way starts at 13.60 and extends to 14.60/70, at which point I will have to determine whether or not to hold our model portfolio long position or to exit, looking to re-enter into

Oil price gained 5.3% to close at 48.81 Monday amid rising Gaza tension as well as OPEC's output reduction. The 2.46M bpd output reduction announced in December will take into effect this month. If fully implemented, OPEC's 4.2M bpd cut in supply since September will slash oil inventory below 5 years' average. This, together with the recent geopolitical conflict, sent oil price higher. It's already the 11th day for the Israel-Hamas conflict but there's no signs of an end. Instead, the fight

-------------------------------------------- USD/JPY Update Time:06 Jan 2009 02:20 GMT Range Forecast 93.00 / 93.30 Resistance/Support R: 93.59 / 93.91 / 94.60 S: 92.86 / 92.41 / 91.80 -------------------------------------------- EUR/USD Update Time:06 Jan 2009 02:42 GMT Range Forecast 1.3590 / 1.3620 Resistance/Support R: 1.3660/1.3708/1.3767 S: 1.3568/1.3546/1.3500 --------------------------------------------- USD/CHF Update Time:06 Jan 2009 02:35 GMT Range Forecast 1.1085 / 1.1120

. Bias:              Until 1.1124-32 breaks there does seem more risk for a correction lower

--------------------------------------------------------------------------- Update Time:     05 Jan 2009 16:00GMT INTRA-DAY GBP/USD OUTLOOK - +1.4565+ Cable's rebound after finding sup at 1.4475 sug gests consolidation with mild upside bias is seen for gain twds 1.4578, however, break there is need- ed to bring retrace. of decline fm 1.4831 to 1.4600 but 1.4635/40 wud hold. Buy dips with stop as indicated, break risk pro long choppy trading n risk 1.4472/75 1st...   

USDCAD breaks below 1.1984 and reaches as low as 1.1866 level. Further fall is still possible to test 1.1820 previous low support, below this level will signal deeper decline towards 1.1600 zone. Initial resistance is located at 1.2000, as long as this level holds, we’d expect downtrend to continue.

Overview The Forex market has begun to return to some form of normality following the holidays. The EUR copped it overnight as speculation swept the market about the ECB cutting rates sooner rather than later. Elsewhere, the Yen crosses continued to show signs of recovery, and has me thinking that they may have put in a low back in Dec, but lets wait and see for further confirmation before throwing any money around. Overall, the pullback in the likes of the EUR and AUD wont be too deep,