FXstreet.com Live Sessions Archives

GDP Live Coverage

US GDP Live Coverage with Valeria Bednarik

(04/30/2010)

  

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1:15	FXstreet.com:  Information and opinions contained in this live coverage session are for educational purposes only and do not constitute trading recommendations. Friday April 30, 2010 1:15 FXstreet.com

1:15

FXstreet.com:  Trading OTC Forex on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange or futures you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange and futures trading, and seek advice from an independent financial advisor if you have any doubts. Friday April 30, 2010 1:15 FXstreet.com

1:16

FXstreet.com:  Good morning, good afternoon and good evening to everyone all over the world. Today's U.S. GDP Live Coverage will start shortly. I am really pleased to introduce Valeria Bednarik who is going to take part in this live event today as a co-presenter. She will be giving us a direct picture for the market status. Friday April 30, 2010 1:16 FXstreet.com

1:17

FXstreet.com:  Valeria Bednarik has been an active Forex trader for the last 5 years, specializing in the International Foreign Exchange Market. She also graduates in the Universidad Catolica del Salvador, in Argentina, as a Public Account, specializing in financials and cost managements. Friday April 30, 2010 1:17 FXstreet.com

1:18	Valeria Bednarik:  Hi everyone and welcome to this Live Coverage! as usual, my pleasure to share this space with you and Fxstreet.com. Friday April 30, 2010 1:18 Valeria Bednarik

1:18	FXstreet.com:  She currently works as chief analyst for Fxstreet.com, and trough her own company, manages an important clients portfolio for Fxsolutions, also training new traders around the word. Friday April 30, 2010 1:18 FXstreet.com

1:19	Valeria Bednarik:  We are here waiting for US GDP advanced quarter reading, expected around 3.4% from an already revisited to the downside 5.6% last 2009 quarter. Friday April 30, 2010 1:19 Valeria Bednarik

1:20	[Comment From Kevin BellKevin Bell: ]  If the US GDP is higher than the consensus at 3.3% where do you think we could drop to in the EURUSD currency pair? Friday April 30, 2010 1:20 Kevin Bell

1:20	Friday April 30, 2010 1:20

1:21	Friday April 30, 2010 1:21

1:21

Valeria Bednarik:  I do believe that sentiment is today ruling markets, so a better than expecetd reading will probably trigger a bullish rally in stocks, and so, dollar down . EUR/USD has break above a descednant trend line, pullback and remains above it, wwith a bullish tone coming from this 4 hours chart Friday April 30, 2010 1:21 Valeria Bednarik

1:22	Valeria Bednarik:  as long as above 1.3280, pair can regain teh upside, and test 1.3340 ahead of 1.3380 zone. Under 1.3280, supports come at 1.3220/30 area, and 1.3180 Friday April 30, 2010 1:22 Valeria Bednarik

1:22	[Comment From GuestGuest: ]  Do you see the USDJPY moving up from the US GDP Friday April 30, 2010 1:22 Guest

1:22	Friday April 30, 2010 1:22

1:24

Valeria Bednarik:  If stocks react strongly to the reading, yes, pair likley to be the first one moving. We are above the 94.40 now support area, with resistances at 94.85 and 95.20 zone. Strong support comes at 93.70, I cna't see the pair losing that at this point. Friday April 30, 2010 1:24 Valeria Bednarik

1:24	[Comment From rezrez: ]  what is the best pair after the figures comes out? Friday April 30, 2010 1:24 rez

1:24	Valeria Bednarik:  yen crosses will be interesting. Pound also. Friday April 30, 2010 1:24 Valeria Bednarik

1:24	[Comment From Junaid PervaizJunaid Pervaiz: ]  Can u please give ur analysis on GBP as well Friday April 30, 2010 1:24 Junaid Pervaiz

1:24	Friday April 30, 2010 1:24

1:25

Valeria Bednarik:  As comment on the blog, pair has tested several times teh 1.5310 zone, and now we broke it in pre report position adjustment! pair is adressing to 1.5270/80 support area; under it, rally could extend to the 1.5220 zone, ahead of 1.5160. Strong resistance now lies at the 1.5330 level, daily highs from most of this April, with next one at 1.5385 Friday April 30, 2010 1:25 Valeria Bednarik

1:25	[Comment From arbenarben: ]  Hi Valeria! how about eur-usd today? Friday April 30, 2010 1:25 arben

1:26	Valeria Bednarik:  Short term, as commented above, pair has a slightly bullish perspective, as optimism about Greece bailout spreads a bit. Still I do see mid term, long term trend pretty bearish. Friday April 30, 2010 1:26 Valeria Bednarik

1:27	[Comment From Bollinger ManBollinger Man: ]  Hello Valeria, what do you think the GDP will affect the USDCOP and its correlationship with the COPINR? Friday April 30, 2010 1:27 Bollinger Man

1:28	Valeria Bednarik:  Hi Bollinger man, I really don't follow COP, sorry my friend! I know I promised you to do that ! Will start watching it today. Friday April 30, 2010 1:28 Valeria Bednarik

1:28	[Comment From AnkitAnkit: ]  What do you think of AUDJPY Friday April 30, 2010 1:28 Ankit

1:30

Valeria Bednarik:  I have been stating several times here, that aussie remains the strongest currency across the board, while Yen should start weakening as for Japan economic conditions, aiming for 100.00 against dollar. In general, aud holds a strong bullish tone, with pair at 88.00. Strong support from 2008 weekly low. Rally shoud at least be halted around here, yet an acceleration higher, liklely signal further continuation today. Friday April 30, 2010 1:30 Valeria Bednarik

1:30	[Comment From Bollinger ManBollinger Man: ]  Somebody write today that correlation between USD and Gold has become positive, what do you think about it? Friday April 30, 2010 1:30 Bollinger Man

1:30	Friday April 30, 2010 1:30

1:31

Valeria Bednarik:  I believe is too early to say. We can't call for a strong cahnge in such correlation, just for a couple of daily movements. Gold is strongly up and tending higher, as for turmoil in markets, acting as the safe haven; we are heading higher here maybe 1185 zone Friday April 30, 2010 1:31 Valeria Bednarik

1:32	[Comment From GuestGuest: ]  im yen short, where to place stop? Friday April 30, 2010 1:32 Guest

1:32	Valeria Bednarik:  if we overcome 94.85 as comment above, pair has good chances of extending to levels above 95.00 Friday April 30, 2010 1:32 Valeria Bednarik

1:32	Valeria Bednarik:  worse than expected. Data is worse than expected 3.2% advanced GDP Friday April 30, 2010 1:32 Valeria Bednarik

1:33	[Comment From SebSeb: ]  Good Day Valeria, what would you expect from NZDUSD today? Thanks Friday April 30, 2010 1:33 Seb

1:33	FXstreet.com:  US GDP (1Q A ) 3.2% vs Forecast 3.3% Friday April 30, 2010 1:33 FXstreet.com

1:33	Valeria Bednarik:  I was following an ascendant daily channel there, pair broke it to the upside, daily charts. Friday April 30, 2010 1:33 Valeria Bednarik

1:35

Valeria Bednarik:  Due to its economic correlation with Australia, pair holds a strong bullish tone, thus 0.7300 won't be an easy level to overcome. Above it resistances lie at 0.7330 and 0.7370, while support are at 0.7260, previous daily high, and roof of the channel. Pair should stay above that level to hold the bullish tone Friday April 30, 2010 1:35 Valeria Bednarik

1:35	[Comment From mhaaraanmhaaraan: ]  with greece debt threat almost solved what will the eurusd direction be Friday April 30, 2010 1:35 mhaaraan

1:36

Valeria Bednarik:  Do you really believe its almost solved?? Greece will have to face a several billions payment next May 19th, Portugal and Spain are also in a quite bad situation, that gets worse day after day. I'm stillseeing a lot of talking, and no action.... The European economic recovery from here if they start acting, will take more than a couple of years. Friday April 30, 2010 1:36 Valeria Bednarik

1:37	Valeria Bednarik:  Short term, market gained a bit confidence and we have a bullish day, ok. But midterm talking, euro will remain under pressure. maybe 1.3600 level, can't see it moving higher than that Friday April 30, 2010 1:37 Valeria Bednarik

1:37	[Comment From shariqshariq: ]  any comments on eur/aud if possible Friday April 30, 2010 1:37 shariq

1:39

Valeria Bednarik:  Eur/aud, is the exact example of where market forces are: aussie strongest euro weakest.. and pair at muti years low. Correcting slightly to the upside today, daily charts show no sign of a reversal in current bearish trend. Hittinh 1.4300, resistances for the pair 1.4350, and 1.4390, while supports lie at 1.4260 and 1.4220 zone Friday April 30, 2010 1:39 Valeria Bednarik

1:40	[Comment From ettaetta: ]  3.2 on GDP, how where will the eur/usd go? Friday April 30, 2010 1:40 etta

1:40	[Comment From ettaetta: ]  with that GDP@3.2% , how does it affect the EURUSD? Friday April 30, 2010 1:40 etta

1:42

Valeria Bednarik:  As usual, fundamental close to expectations, won't be able to interrupt previous market trend. Pair has made a pullback to the 1.3300 area, and is back gaining the upside, we need to accelerate above 1.3340, to extend the rally, to next mentioned resistance zones, 1.3385, and 1.3420 Friday April 30, 2010 1:42 Valeria Bednarik

1:42	[Comment From rezrez: ]  now where do u see usd?thanks Friday April 30, 2010 1:42 rez

1:42	Valeria Bednarik:  losing ground rez, at least this first spike, let's give market 15 minutes to see if trend is able to hold. Friday April 30, 2010 1:42 Valeria Bednarik

1:43	[Comment From GuestGuest: ]  Do you think usdjpy can move above 94.40 now Friday April 30, 2010 1:43 Guest

1:44	Valeria Bednarik:  Pair is testing the area, and maybe short term we are seing a downside corrective movement, yet it holds the bullish tone. I still see pair approaching to 95.50 area, probably next week. Friday April 30, 2010 1:44 Valeria Bednarik

1:44	[Comment From MichaelMichael: ]  Hi Val, do you think EURUSD will resume its downtrend after this correction? Friday April 30, 2010 1:44 Michael

1:44	Valeria Bednarik:  I do yes, we need to see how this week ends, and where pair close it: as long as under 1.3420, chances remain to the downside. Friday April 30, 2010 1:44 Valeria Bednarik

1:44	[Comment From VarunVarun: ]  Hello Valeria, Will Euro fall back to it's recent lows again? Friday April 30, 2010 1:44 Varun

1:45	Valeria Bednarik:  I can't state that my friend, I have a bearish bias still mid term talking, but we know trend wont move straigth and corrections in the midlle always take place. Watch for 1.3420 to keep the upside limited. Friday April 30, 2010 1:45 Valeria Bednarik

1:45	[Comment From FawadFawad: ]  hi val, as u said that u see eur/usd bearish in the mid term n long term so high pair can go in the short run Friday April 30, 2010 1:45 Fawad

1:46	Valeria Bednarik:  Well, that's my intention, seek for the best point to do it, after live coverage is over.. ;) Friday April 30, 2010 1:46 Valeria Bednarik

1:46	[Comment From Junaid PervaizJunaid Pervaiz: ]  So in euro do we expect it till 1.2850 or do u see a further move down Friday April 30, 2010 1:46 Junaid Pervaiz

1:47	Valeria Bednarik:  under 1.3100, I do see a good chance of reaching that 1.2850 strong support area, yet at this point i can't see much more further. Friday April 30, 2010 1:47 Valeria Bednarik

1:47	[Comment From GuestGuest: ]  wats the future of GBP/USD for today? Friday April 30, 2010 1:47 Guest

1:48	Valeria Bednarik:  as comment above, as long as above 1.5280 support just tested, pair has a bullish tone; resistances are at 1.5335 and 1.5390 area. Friday April 30, 2010 1:48 Valeria Bednarik

1:48	[Comment From SangramSangram: ]  with the US markets showing positive results..wat do you expect from GBP/USD? Friday April 30, 2010 1:48 Sangram

1:48	Valeria Bednarik:  exactly Sangram, rises in pound, as long as support holds. Friday April 30, 2010 1:48 Valeria Bednarik

1:48	[Comment From rezrez: ]  in such a time like this that figures are positive but worse than expected what is the best things to do or trade? Friday April 30, 2010 1:48 rez

1:49	Valeria Bednarik:  Good question! trade the trend.. will never let you down. Friday April 30, 2010 1:49 Valeria Bednarik

1:49	[Comment From sigmafxsigmafx: ]  Hi Val, any comment for eur/gbp? Friday April 30, 2010 1:49 sigmafx

1:51

Valeria Bednarik:  I have been following the pair trapped in between 0.8600 strong support area, weekly charts clear, and the 0.8700 zone, base of a huge triangle pair has also in the weekly chart. we are approaching to weekly high now, around 0.8730 area, where we also have the 20 SMA with a bullish slope in the daily chart. Pair needs to break either above it or under 0.8600 to get rid of current range and define a clearer trend Friday April 30, 2010 1:51 Valeria Bednarik

1:51	[Comment From SangramSangram: ]  thnxs a lot Val.. Friday April 30, 2010 1:51 Sangram

1:51	[Comment From GuestGuest: ]  Swissy further down? Friday April 30, 2010 1:51 Guest

1:53

Valeria Bednarik:  USD/CHF is barely under 1.0770/80 resistance area, tending yes, lower with 1.0730 and 1.0680 as next downside targets. Be aware is month end today, and SNB has been intervining markets around this date since past September, so trade it wisely and with tight stops. Friday April 30, 2010 1:53 Valeria Bednarik

1:53	[Comment From GuestGuest: ]  Hi Val. Do you see the 3340-50 zone (EUR/USD) strong enough to push the price back down today? Especially since the indicators show it is slightly in the overbought area. Thx. Friday April 30, 2010 1:53 Guest

1:54	Valeria Bednarik:  It is in fact a strong resistance level, yt if pair catchs speed an accelerates above likely to continue, something at this point seems likely. slighty ovebougth in the hourly, yet not enough to call for a strong rebound there... Friday April 30, 2010 1:54 Valeria Bednarik

1:55	[Comment From VarunVarun: ]  Thank You Valeria,I agree with You & I will watch for that 1.3420 level. Any suggestion for Crude Oil Friday April 30, 2010 1:55 Varun

1:56	Valeria Bednarik:  Oil is again heading higher, strong come back from 81 zone suggest bullish trend remains intact there. I see resistances at 86.40, 86.70 and 87.20 zone. Friday April 30, 2010 1:56 Valeria Bednarik

1:56	[Comment From GuestGuest: ]  EURJPY reversal? Friday April 30, 2010 1:56 Guest

1:56	[Comment From elderelder: ]  where do you see eur/jpy and gbp/jpy? Friday April 30, 2010 1:56 elder

1:58

Valeria Bednarik:  As comment above, yen crosses hold a bullish bias, thus yes, 126.00/30 area has been quite strong in EJ to offer some however, we are at 125.70 area: supports come at 125.50 125.00 and strong one at 124.40. above 126.30, pair could reach 127.00 today. Friday April 30, 2010 1:58 Valeria Bednarik

2:00	Valeria Bednarik:  REgarding GBP/JPY, we hold the bullsih tone after strong rebound from 141.60 area, 61.8% retracement of past daily bullish rally. from 139 to 146 Friday April 30, 2010 2:00 Valeria Bednarik

2:01	[Comment From GuestGuest: ]  Where do you see support level for today on usdjpy & do you think it can go above 94.45 today. Friday April 30, 2010 2:01 Guest

2:02	FXstreet.com:  Sorry we have Just 10 minutes left. If you have anything related Forex market, please do not hesitate to ask Valeria Friday April 30, 2010 2:02 FXstreet.com

2:03	Valeria Bednarik:  we are just under that level. If we lose 94.10 area, next support comes at 93.70 strong zone. can't see it losing that area at this point, yer under 94.40, chances are to the downside. Friday April 30, 2010 2:03 Valeria Bednarik

2:03	[Comment From VarunVarun: ]  Thank You Valeria, Does Oil leakage in Gulf of Mexico have any impact on the Crude Oil? Friday April 30, 2010 2:03 Varun

2:03	Valeria Bednarik:  Well yes, it's helping furhter bullish momentum in the barrel, yet seems it don't need it to rise at this point. Friday April 30, 2010 2:03 Valeria Bednarik

2:04	[Comment From ettaetta: ]  with Goldman Sachs charged, a hanging Greek bailout, and now this GDP, how do you gel all this together and create a bias? Friday April 30, 2010 2:04 etta

2:04	Valeria Bednarik:  That's a great quesion, and the answer is divided in short term, and long term.. Friday April 30, 2010 2:04 Valeria Bednarik

2:06

Valeria Bednarik:  short term, greece bailout, not so bad news at the end, as they are barely under expectations, are pushing dollar slightly lower against greenback... Long term, european recovery will be tougth, we have elections in the UK and Germany, Goldman being sue.. all taht generates a risk aversion enviroment that will be favoring dollar rises. Friday April 30, 2010 2:06 Valeria Bednarik

2:06	[Comment From bandersbanders: ]  thank you valeria Friday April 30, 2010 2:06 banders

2:06	[Comment From ettaetta: ]  thanks Val Friday April 30, 2010 2:06 etta

2:06	[Comment From sumitsumit: ]  what do u thin abt GBP/USD and GBP/CHF....please advice...?? Friday April 30, 2010 2:06 sumit

2:08	Valeria Bednarik:  I comment several times above about gbp/usd, please check. Regarding GBP/CHF pair has a bearish tone ahead, with immediate supports at 1.6455 and 1.6420 strong area that should be today's floor if reached Friday April 30, 2010 2:08 Valeria Bednarik

2:08	[Comment From GuestGuest: ]  Hey Val, just wondering for the gu pair, what is the time frame chart you use to get your signals? Thanks in advance... Friday April 30, 2010 2:08 Guest

2:09	Valeria Bednarik:  4 and 1 hours charts.. being an intraday trader, I preffer to set my supp resistances, and trend int he 4 hours one, and trade the hourly, favoring what the bigger one is telling me. Friday April 30, 2010 2:09 Valeria Bednarik

2:09	[Comment From mhaaraanmhaaraan: ]  thanks Val for all the great answers that u hv given have a great trading day Friday April 30, 2010 2:09 mhaaraan

2:09	Valeria Bednarik:  Same for you! Friday April 30, 2010 2:09 Valeria Bednarik

2:09	[Comment From RamaRama: ]  What is your favorite today Friday April 30, 2010 2:09 Rama

2:10	Valeria Bednarik:  umm this is the most personal view, and don't take it as a trading signal! but I will be watching aussie.. I see the 0.9330/50 area as a good selling oportunity... counter trend trade there seems likely for me! Friday April 30, 2010 2:10 Valeria Bednarik

2:11	[Comment From zaphyzaphy: ]  Shouldn't the environment you just described favour JPY as well? safe haven buying of yen? Friday April 30, 2010 2:11 zaphy

2:12

Valeria Bednarik:  That's another great question!!! should yes, but due to bearish strong tone in yen, the effect is just avoiding it to ful further, ergo, to see crosses gaining the upside strongly. Japan deflation, moving capitals to foreign investments, and lawmakers there asking for 120! against dollar, will continue ot keep the downside limited. Friday April 30, 2010 2:12 Valeria Bednarik

2:13	FXstreet.com:  Sorry we are short of time today, I have to wrap up the session. Friday April 30, 2010 2:13 FXstreet.com

2:13	FXstreet.com:  Thank you Valeria for the great market view!... and every one who has joined the session today. I have had a great time with you. Friday April 30, 2010 2:13 FXstreet.com

2:13	Valeria Bednarik:  There is never one factor in market affecting a currency. remember is a number of them ;) Friday April 30, 2010 2:13 Valeria Bednarik

2:13	FXstreet.com:  Valerica, please give us a final word Friday April 30, 2010 2:13 FXstreet.com

2:13	Valeria Bednarik:  Ok time to go now! as usual, my pleasure to be here with you all! have a great trading day, and a better week end! remember to trade what you see, not what you believe! Friday April 30, 2010 2:13 Valeria Bednarik

2:14	Valeria Bednarik:  see you back on Sunday with the weekly opening market live coverage! Friday April 30, 2010 2:14 Valeria Bednarik

2:14	[Comment From VarunVarun: ]  Thank You very much Valeria, Wish You wonderful weekend. Thank You FXStreet Friday April 30, 2010 2:14 Varun

2:14	[Comment From ettaetta: ]  thanks so much... Friday April 30, 2010 2:14 etta

2:14	FXstreet.com:  Thank you Valeria! See you! Friday April 30, 2010 2:14 FXstreet.com

2:14	FXstreet.com:  Alright evey one,, Thank you for coming today! I hope to see you all in the next live coverage. Have a nice trading day! Bye for now! Friday April 30, 2010 2:14 FXstreet.com

2:15	FXstreet.com:  Information and opinions contained in this live coverage session are for educational purposes only and do not constitute trading recommendations. Friday April 30, 2010 2:15 FXstreet.com

2:15

FXstreet.com:  Trading OTC Forex on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange or futures you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange and futures trading, and seek advice from an independent financial advisor if you have any doubts. Friday April 30, 2010 2:15 FXstreet.com

2:15

 

 

Tracking the forex market together / Part II

Expert: Dr.S.Sivaraman, CEO and owner at i-knowindices.com
Moderator: Maud Gilson, Conference Manager

Summary:

Dr. S. Sivaraman presents his "Tracking the forex market together" double Live Trading Session. Read the FX European market and learn to make decisions during Part I and then follow up with the second session - Part II - reviewing the trades and analysing the FX US market.

Let Dr. S. Sivaraman give you live calls based on market moves and help you finding easy way of trading.

You can see here Part I

Tracking the forex market together / Part I

Expert: Dr.S.Sivaraman, CEO and owner at i-knowindices.com
Moderator: Maud Gilson, Conference Manager

Summary:

Dr. S. Sivaraman presents his "Tracking the forex market together" double Live Trading Session. Read the FX European market and learn to make decisions during Part I and then follow up with the second session - Part II - reviewing the trades and analysing the FX US market.

Let Dr. S. Sivaraman give you live calls based on market moves and help you finding easy way of trading!

You can see here Part II

Fed Interest Rate Decision Live Coverage

Fed Interest Rate Decision with Valeria Bednarik

(04/28/2010)

  

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7:00	FXstreet.com:  Welcome everyone to our LIVE COVERAGE of the FOMC Meeting today! Wednesday April 28, 2010 7:00 FXstreet.com

7:02

FXstreet.com:  Good morning, good afternoon and good evening to everyone all over the world. The FOMC Interest rate decision Live Coverage is going to start shortly. I am pleased to introduce Valeria Bednarik who is going to take part in this live event today as a co-presenter. She will be giving us a direct picture for the market status. Wednesday April 28, 2010 7:02 FXstreet.com

7:03	FXstreet.com:  Information and opinions contained in this live coverage session are for educational purposes only and do not constitute trading recommendations. Wednesday April 28, 2010 7:03 FXstreet.com

7:03

FXstreet.com:  Trading OTC Forex on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange or futures you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange and futures trading, and seek advice from an independent financial advisor if you have any doubts. Wednesday April 28, 2010 7:03 FXstreet.com

7:04

FXstreet.com:  Valeria Bednarik has been an active Forex trader for the last 5 years, specializing in the International Foreign Exchange Market. She also graduates in the Universidad Catolica del Salvador, in Argentina, as a Public Account, specializing in financials and cost managements. Wednesday April 28, 2010 7:04 FXstreet.com

7:05	FXstreet.com:  She currently works as chief analyst for Fxstreet.com, and trough her own company, manages an important clients portfolio for Fxsolutions, also training new traders around the word. Wednesday April 28, 2010 7:05 FXstreet.com

7:06	Valeria Bednarik:  Hi everyone, and welcome to this live coverage! As always, a pleasure to share this space with Fxstreet.com and you! Wednesday April 28, 2010 7:06 Valeria Bednarik

7:06	FXstreet.com:  Valeria, how are you today? Thanks for being with us again for another live coverage Wednesday April 28, 2010 7:06 FXstreet.com

7:10	[Comment From WaqasWaqas: ]  Bp Next support level .. and reason of rising gold with Dollar Wednesday April 28, 2010 7:10 Waqas

7:10	FXstreet.com:  Valeria is having trouble with the Coveritlive platform, sorry for the inconvenience, she is working on it and should be back in just a moment. Thanks for your patience Wednesday April 28, 2010 7:10 FXstreet.com

7:14	FXstreet.com:  We are waiting for Val, sorry again. She is unable to post comment, she is restarting her system now. Wednesday April 28, 2010 7:14 FXstreet.com

7:14	FXstreet.com:  I will post the data when it comes out, stay with us, Valeria should join us soon, thanks Wednesday April 28, 2010 7:14 FXstreet.com

7:15	FXstreet.com:  ON HOLD Wednesday April 28, 2010 7:15 FXstreet.com

7:17	Valeria Bednarik:  Hi All!!! so sorry for the inconvinience! Wednesday April 28, 2010 7:17 Valeria Bednarik

7:17	Valeria Bednarik:  but I'mhere now! Wednesday April 28, 2010 7:17 Valeria Bednarik

7:17	FXstreet.com:  hi Val Wednesday April 28, 2010 7:17 FXstreet.com

7:17	FXstreet.com:  Nice to have you back Wednesday April 28, 2010 7:17 FXstreet.com

7:17	FXstreet.com:  Rates unchanged Wednesday April 28, 2010 7:17 FXstreet.com

7:18	Valeria Bednarik:  I see a lot of comments, and questions, but let's focus in what going on in market ok? Wednesday April 28, 2010 7:18 Valeria Bednarik

7:18	FXstreet.com:  I let you comment the markets and answer the questions from our users! Wednesday April 28, 2010 7:18 FXstreet.com

7:18

Valeria Bednarik:  Lwe are not waiting FEd to change it's dovish stance, I do believe that they will keep on with the low rates for an extended period. Anyway! let's start with questions, but keep in minf, this could be a chance to trigger some corrective movements Wednesday April 28, 2010 7:18 Valeria Bednarik

7:19	[Comment From AbdulAbdul: ]  What about euro/usd range for fall Wednesday April 28, 2010 7:19 Abdul

7:20	Valeria Bednarik:  Eiro is no douts after a lot of pressure after S&P downgraded Spain today, after hitting Portugal and Greece yesterday. Pair is at 12 months low, 1.3115 is todays' low Wednesday April 28, 2010 7:20 Valeria Bednarik

7:20	Wednesday April 28, 2010 7:20

7:21	Valeria Bednarik:  capped by 1.3180 area fro now, sorrythat's a bit old chart Wednesday April 28, 2010 7:21 Valeria Bednarik

7:21	Valeria Bednarik:  under today's low, next support comes at the 1.3075 area, but mid term target for the pair is the 1.2850 area at this point. Wednesday April 28, 2010 7:21 Valeria Bednarik

7:21	[Comment From martinmartin: ]  hi, eur/gbp. do you think this pair favor uptrend and what will be the support & resistance? Wednesday April 28, 2010 7:21 martin

7:23	Valeria Bednarik:  I do see the pair has broke the base of a weekly channel, and remains capped under it. Wednesday April 28, 2010 7:23 Valeria Bednarik

7:23	Wednesday April 28, 2010 7:23

7:23	Valeria Bednarik:  around the 0.8700 area, so that is a huge resistance for the pair rigth now, and we actually will need a weekly close above that broken descendant trned line, to consider chances of an upside rally there. Wednesday April 28, 2010 7:23 Valeria Bednarik

7:24	Valeria Bednarik:  however, 0.8600 is also quite a strong support area, and seems not easy to break for the pair. Wednesday April 28, 2010 7:24 Valeria Bednarik

7:24	Valeria Bednarik:  currently,quoting around 0.8670, shorter term charts show a consolidative stage there Wednesday April 28, 2010 7:24 Valeria Bednarik

7:24	[Comment From adamadam: ]  Hi Valeria, what outcome would enable the euro to recover from this decision ? Wednesday April 28, 2010 7:24 adam

7:25	Wednesday April 28, 2010 7:25

7:25	Valeria Bednarik:  I do blelieve that no outcome of this particular decision, will change euro situation Wednesday April 28, 2010 7:25 Valeria Bednarik

7:26

Valeria Bednarik:  despite some recovery now, to 1.3170 current price, general trend remains strongly bearish. above 1.3220, pair could attempt again to correct to 1.3265 intraday high, but if we lose 1.3140/30 zone again, I would expect a rally to mentioned 1.3075 Wednesday April 28, 2010 7:26 Valeria Bednarik

7:27	Valeria Bednarik:  Commodity currencies are rising strongly now against dollar! Wednesday April 28, 2010 7:27 Valeria Bednarik

7:27	Valeria Bednarik:  as comment at the begining of the live coverage, could well be the excuse market was needing for a correction. Anyway remember EURO remains the weakest currency across the board. Wednesday April 28, 2010 7:27 Valeria Bednarik

7:28	[Comment From johnjohn: ]  hi there. the aud/usd pair, what will be the support level? Wednesday April 28, 2010 7:28 john

7:28	Valeria Bednarik:  We are there aroudn 0.9260, with immediate resistances at 0.9300 area, and 0.9330; under 0.9230, supports come at 0.92000 and 0.9170. Wednesday April 28, 2010 7:28 Valeria Bednarik

7:29	FXstreet.com:  This is a link to the Official Statement: http://www.federalreserve.gov/newsevents/press/monetary/20100428a.htm Wednesday April 28, 2010 7:29 FXstreet.com

7:29	Valeria Bednarik:  ok Fed statement said again the extremely low for an extended period.. no changes there. Wednesday April 28, 2010 7:29 Valeria Bednarik

7:29	[Comment From paulpaul: ]  if fed increase 25 bps/ no increase what would be low/ high for euro and cable now Wednesday April 28, 2010 7:29 paul

7:30	Valeria Bednarik:  Hi Paul as comment on previous coverages, seems hard to see FED moving rates until second half this year Wednesday April 28, 2010 7:30 Valeria Bednarik

7:30	Wednesday April 28, 2010 7:30

7:31

Valeria Bednarik:  Regarding GBP/USD, pair has reached an interesting bottom today, the 1.5130 zone.. daily charts show a good number of daily lows of this April, there, as well as several daily highs from February, turning the zone into a quite strong support area. Wednesday April 28, 2010 7:31 Valeria Bednarik

7:32	Valeria Bednarik:  currently quoting at 1.5185, pair has resistances around 1.5220 and 1.5260 ahead, thus really seem with no strength to rise from here. Wednesday April 28, 2010 7:32 Valeria Bednarik

7:32	Valeria Bednarik:  under 1.5160, pair likley to retest that mentioned area, that if broken could trigger a more interesting selling rally, with 1.5050 and 1.4990 as next supports to consider. Wednesday April 28, 2010 7:32 Valeria Bednarik

7:33	[Comment From vikvik: ]  gold? Wednesday April 28, 2010 7:33 vik

7:33	Wednesday April 28, 2010 7:33

7:35

Valeria Bednarik:  as you can see in the chart, gold is around this year highs, reached earlier today. In turmoin times as the ones we are living now with the eurozone, is the best refugee for investors; gold holds a bullish tone and above 1174, next resistance area comes at 1182 zone. At this point, seems unlikley to see it moving under 1162 first support ahead of 1153 area Wednesday April 28, 2010 7:35 Valeria Bednarik

7:35	[Comment From GuestGuest: ]  usd strength is displaying well in usdjpy. will it move to 95 or it will strengthen towards 93 level in month end flow. Wednesday April 28, 2010 7:35 Guest

7:35	Wednesday April 28, 2010 7:35

7:36	Valeria Bednarik:  strong recovery from 92.80 area suggest further upside pressure to come in the pair. I do hold a bearish perspective for yen, that os abullish tone for all yen crosses. Wednesday April 28, 2010 7:36 Valeria Bednarik

7:37	Valeria Bednarik:  however, 94.40 seems to be a strong barrier where Japanese exporters are rumored to be selling; we need to accelerate above that level, and we are getting closer, to see pair reaching next resistance area, around 94.80 Wednesday April 28, 2010 7:37 Valeria Bednarik

7:37	Valeria Bednarik:  mnid term talking pair has a huge resistance in the 95.50 zone. Above it, 98 is probably next. Support from current level lie at 94.10, 93.75 and 93.30 not seen at this point. Wednesday April 28, 2010 7:37 Valeria Bednarik

7:37	[Comment From HannaHanna: ]  Do U think that EUR/USD will go to 1.30 Wednesday April 28, 2010 7:37 Hanna

7:39

Valeria Bednarik:  Not today, but there is a big chance if the euro zone keeps talking and not acting to solve there soverign debt issues... we are heading now to 1.3220 resistance zone. and pair will need to close the day above 1.3270 to turn slightly bullish, something I dont see at this point,. Wednesday April 28, 2010 7:39 Valeria Bednarik

7:39	[Comment From MazenMazen: ]  Do you see any further downward pressure on the Euro today based o nthe unchaged US FED rates? Wednesday April 28, 2010 7:39 Mazen

7:39	[Comment From BlairBlair: ]  Hi, Val, you think any chance of the corrective move for the EUR/USD after the rate decision? Wednesday April 28, 2010 7:39 Blair

7:40	Valeria Bednarik:  As comment above, Euro is under pressure. What we are seen rigth now could well be consider corrective as long as under 1.3310 zone Wednesday April 28, 2010 7:40 Valeria Bednarik

7:40	[Comment From AbhijitAbhijit: ]  is fed news positive enough to give a boost to usd? Wednesday April 28, 2010 7:40 Abhijit

7:40	Valeria Bednarik:  on contrary, os not enough, as they again announced they will keep rates on hold for an extended period. However, that has nothing to do with euro self weakness Wednesday April 28, 2010 7:40 Valeria Bednarik

7:41	[Comment From shariqshariq: ]  any view of your's on EUR /AUD Wednesday April 28, 2010 7:41 shariq

7:41	Valeria Bednarik:  While I believe Euro is the weakest, I also see the Aussie as the strongest currency across the board. Pair is at multiyears low, yet there is no sign that bearish trend is over. Wednesday April 28, 2010 7:41 Valeria Bednarik

7:43	Valeria Bednarik:  I really don't have any downside support for the pair, maybe the 1.4200 area. as historically, we have no references of price around this level. Wednesday April 28, 2010 7:43 Valeria Bednarik

7:43	[Comment From HannaHanna: ]  do you think that Euro will recover to go to the 1.35 area Wednesday April 28, 2010 7:43 Hanna

7:44	Valeria Bednarik:  not really my friend. as comment above, we had rating agencies downgrading European countries one after the other... I dont see any soon relief for the hegemonic currency. Wednesday April 28, 2010 7:44 Valeria Bednarik

7:45	[Comment From AbhijitAbhijit: ]  gbp/usd oversold, still it can go down? Wednesday April 28, 2010 7:45 Abhijit

7:46

Valeria Bednarik:  Oversold in which time frame? it all depends how you look at the pair. Short term ttalking, we are seing some corrective movement that can't reach 1.5220 resistance area, and after first spike, majors had settle down; will be a matter of a few hours till they regain previous trend. Wednesday April 28, 2010 7:46 Valeria Bednarik

7:47	Valeria Bednarik:  as always, fundamental news, when they are not shocking, are just "noise" in the market, and they can hardly change a strong trend. Wednesday April 28, 2010 7:47 Valeria Bednarik

7:48	Valeria Bednarik:  and we do have a strong dollar trend, regardless if it's fair or not as for the US economic conditions... Wednesday April 28, 2010 7:48 Valeria Bednarik

7:48	[Comment From Mazen BakhbakhiMazen Bakhbakhi: ]  How do you see the coming sovereign credit crisis in Eurozone affecting demand for commodities such as Crude Oil? Wednesday April 28, 2010 7:48 Mazen Bakhbakhi

7:49	Valeria Bednarik:  Good question! I dont believe this crisis will be enough to reduce demand of oil, Wednesday April 28, 2010 7:49 Valeria Bednarik

7:51	Valeria Bednarik:  and so, I don't see it hardly affected by euro zone woes. But if the crisis is not solved quickly, i do see it affecting more than just europe; however, I still can't believe ECB will be the one responsable for destroying them self. Wednesday April 28, 2010 7:51 Valeria Bednarik

7:51	[Comment From tiet vntiet vn: ]  hi! what perspective for usd/cad while oil under 83 Wednesday April 28, 2010 7:51 tiet vn

7:52	[Comment From Ryan LasmailiRyan Lasmaili: ]  The USD/CAD seems to be negativ influenced by the fed decision, what outcome is going to have? Wednesday April 28, 2010 7:52 Ryan Lasmaili

7:53

Valeria Bednarik:  I do see the CAD still strong and with further chances of extending the rally, so USD/CAD likley to test parity, or even break lower. I will be worried if oil losses this year base of $ 80. per barrel, and not before. Pair remains bearish, with supports at 1.0065, 1.0030 and 0.9980. We need to clear trhe 1.0250 zone, to see a change in the trend. Wednesday April 28, 2010 7:53 Valeria Bednarik

7:53	[Comment From pepapepa: ]  hi, do you think that USD/CAD will go to 0.9750 Wednesday April 28, 2010 7:53 pepa

7:53	Valeria Bednarik:  and I rather see 0.9850 as an important low there.. not seen it much further than that. Wednesday April 28, 2010 7:53 Valeria Bednarik

7:54	[Comment From glen from indonesiaglen from indonesia: ]  Any rumor for kiwi rate ? will follow RBA? or still hold Wednesday April 28, 2010 7:54 glen from indonesia

7:54	Valeria Bednarik:  Sorry, I did not see anything regardin New Zealand these days. will try to found out and post it on the blog Wednesday April 28, 2010 7:54 Valeria Bednarik

7:55	[Comment From GuestGuest: ]  Not much volatility in majors why? Wednesday April 28, 2010 7:55 Guest

7:55	FXstreet.com:  Valeria's blog: http://blogs.fxstreet.com/advisor/ Wednesday April 28, 2010 7:55 FXstreet.com

7:56	Valeria Bednarik:  Volatily after a report, comes when news are unexpected, shocking... the fact is that news today where far from being so. AS comment above, is a matter of time to see this effects dilute, and majors returning to pre report trend Wednesday April 28, 2010 7:56 Valeria Bednarik

7:56	[Comment From jbjb: ]  would the nzd/usd reach the next resistance on positve rbnz decision later today Wednesday April 28, 2010 7:56 jb

7:58

Valeria Bednarik:  Have jsut checked... rates are expected unchanged in New Zealand,. However, pair has a strong positive tone following aussie strength. Both countries are very close commercial partners, so there is little chance of seeing NZD losing ground agaisnt dollar Wednesday April 28, 2010 7:58 Valeria Bednarik

7:59	Valeria Bednarik:  resistances are at 0.7220 and 0.7255, while supports now lie at 0.7185 and 0.7150 area. Wednesday April 28, 2010 7:59 Valeria Bednarik

7:59	[Comment From stevensteven: ]  what is the real cos of euro weakness and what could turn it around? Wednesday April 28, 2010 7:59 steven

8:00	Valeria Bednarik:  Euro weakness comes from current debt crisis in Greece, Portugal and Spain.. and unless a real solution, I can't see it turning down yet. Wednesday April 28, 2010 8:00 Valeria Bednarik

8:00	[Comment From jaynaljaynal: ]  do u think eur/usd will go to 1.3100 Wednesday April 28, 2010 8:00 jaynal

8:01	Valeria Bednarik:  as comment above, as long as capped by 1.3310 pair remains bearish.. till that level, we could consider current movemnt corrective. Wednesday April 28, 2010 8:01 Valeria Bednarik

8:01	[Comment From jsjs: ]  Hi Valeria, which pair do you advice to trade for the nz rate announcement? Wednesday April 28, 2010 8:01 js

8:02	Valeria Bednarik:  Probably Aud/Usd as reflection trade.. or the NZD/usd.. I don't trade the crosses of nzd Wednesday April 28, 2010 8:02 Valeria Bednarik

8:02	[Comment From WaqasWaqas: ]  Did Gold prices will boost AUD Wednesday April 28, 2010 8:02 Waqas

8:02	Valeria Bednarik:  There is a big chance of that yes. Wednesday April 28, 2010 8:02 Valeria Bednarik

8:03	FXstreet.com:  We have to wtap up in just a moment, we will take one last question, thanks! Wednesday April 28, 2010 8:03 FXstreet.com

8:03	[Comment From peterpeter: ]  how come EUD/CAD is fairly neutral compared to eud and others Wednesday April 28, 2010 8:03 peter

8:05

Valeria Bednarik:  Do you really believe so? pair is also at several months low, showing also euro weakness. the fact is that now, both euro and cad are moving steadily against dollar, and so the cross shows no effect. is a news affecting dollar.. differnet is the situation if it was an euro or cad news. Wednesday April 28, 2010 8:05 Valeria Bednarik

8:05	FXstreet.com:  Valeria, can you give us a last comment? Wednesday April 28, 2010 8:05 FXstreet.com

8:07

Valeria Bednarik:  As always, remember to trade what you see, and not what you believe. News has been quite dissappointing in market reaction, just some noise that will dissapear in the next hours. And never ever forget to use stop loss! Have a great trading day! and today, my apologizes for the technical inconviniences. See you all back soon! Tks Wednesday April 28, 2010 8:07 Valeria Bednarik

8:07	FXstreet.com:  Thanks Val for your time and for being with us today again! Thanks everyone for joining us, we hope you have enjoyed. Our next live coverage will be hosted on U.S. Gross Domestic Product - Apr. 30, 12:15 GMT Wednesday April 28, 2010 8:07 FXstreet.com

8:10

 

 

Back to Basics - The Carry Trade - What does it mean to us?

Expert: Adam Rosen, CEO and Co-Founder at 4xLounge
Moderator: Maud Gilson, Conference Manager

Summary:

The fx-market tends to move under the expectation of higher or lower interest rates. With that said, fx-traders should always consider the impact of the 'carry trade'.

Backtesting a trading system or strategy

Expert: Valeria Bednarik, Independent Contributor at FXstreet.com Independent Analyst Team
Moderator: Vicky Ferrer

Summary:

Backtesting is a fundamental process that will help you improve your trading style. We will review the manual and automatic backtesting techniques and go through the data that you actually need and how to find them out.

Live Trading Set Ups with Chart Patterns and Market Cycles

Expert: Raghee Horner, Trader and Author at Raghee.com
Moderator: Maud Gilson, Conference Manager

Summary:

Join Raghee Horner as she explains chart pattern trading, market cycle analysis, and examines current trading set ups using Autochartist and her 34ema Wave.

The Quarters Theory Webinar - Part 1

Expert: Ilian Yotov, FX Strategist and Founder at AllThingsForex
Moderator: Maud Gilson, Conference Manager

Summary:

• The Foundation of The Quarters Theory
• What are “The Quarters”?
• The Unique Premise of The Quarters Theory
• Why The Quarters Theory can be the Forex Trader’s “Never Lost” Global Positioning System?
• Applying the Methodology of The Quarters Theory in today’s Forex Market and Q&A Discussion

BoC Interest Rate Decision Live coverage

BoC Interest Rates Decision

(04/20/2010)

  

Close

1:47	FXstreet.com:  Information and opinions contained in this live coverage session are for educational purposes only and do not constitute trading recommendations. Tuesday April 20, 2010 1:47 FXstreet.com

1:47

FXstreet.com:  Trading OTC Forex on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange or futures you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange and futures trading, and seek advice from an independent financial advisor if you have any doubts. Tuesday April 20, 2010 1:47 FXstreet.com

1:47

FXstreet.com:  Good morning, good afternoon and good evening to everyone all over the world. The BoC Interest Rate Decision Live Coverage is going to start shortly. I am pleased to introduce Valeria Bednarik who is going to take part in this live event today as a co-presenter. She will be giving us a direct picture for the market status. Tuesday April 20, 2010 1:47 FXstreet.com

1:47

FXstreet.com:  Valeria Bednarik has been an active Forex trader for the last 5 years, specializing in the International Foreign Exchange Market. She also graduates in the Universidad Catolica del Salvador, in Argentina, as a Public Account, specializing in financials and cost managements. Tuesday April 20, 2010 1:47 FXstreet.com

1:48	FXstreet.com:  She currently works as chief analyst for Fxstreet.com, and trough her own company, manages an important clients portfolio for Fxsolutions, also training new traders around the word. Tuesday April 20, 2010 1:48 FXstreet.com

1:49	FXstreet.com:  Hi Valeria ! welcome back to the live coverage. Tuesday April 20, 2010 1:49 FXstreet.com

1:49	FXstreet.com:  Hi every one how are you doing? Here we have BoC interest rate history. Tuesday April 20, 2010 1:49 FXstreet.com

1:49	Valeria Bednarik:  Hi everyone and welcome to the live coverage! Tks for being here, and tks Fxstreet.com Tuesday April 20, 2010 1:49 Valeria Bednarik

1:50	Tuesday April 20, 2010 1:50

1:50	[Comment From leoleo: ]  hi, whats the % chance for a rate increase this round? Tuesday April 20, 2010 1:50 leo

1:51

Valeria Bednarik:  Hi Leo, despite market is not really forecasting a rate change, there is a chance of a 0.25% increase, following past months hawkish tone coming from the BOC. The fact is that I'm not so convinced any economy will dare to move before US, but we know Australia is doing it, so market has been lately pricing in a rate hike, sending Canadian dollar even under parity Tuesday April 20, 2010 1:51 Valeria Bednarik

1:51	[Comment From WaqasWaqas: ]  Did you see Increase in rates today after a long long time ??? Tuesday April 20, 2010 1:51 Waqas

1:51	[Comment From leoleo: ]  Hi, whats the chance for a rate increase this round? and to what extend the hawkish remarks will be? Tuesday April 20, 2010 1:51 leo

1:52	Valeria Bednarik:  Yes, i do believe there is a chance, but I don't know how hawkish speech could be Tuesday April 20, 2010 1:52 Valeria Bednarik

1:52	[Comment From GuestGuest: ]  how will this effect Eur/Usd? Tuesday April 20, 2010 1:52 Guest

1:53	Valeria Bednarik:  I do believe that if the desicion affects really cad, the reflection will be more clear in GBP than in EURO, Tuesday April 20, 2010 1:53 Valeria Bednarik

1:53	Tuesday April 20, 2010 1:53

1:54	Valeria Bednarik:  Euro, tested 1.3500 early today, mounted on better than expected ZEW reading, but as you can see, the pair was unable to hold the area, and is approaching to 1.3460 zone. Tuesday April 20, 2010 1:54 Valeria Bednarik

1:55	Valeria Bednarik:  I do see that euro remains weak no matter what happens with the dollar or the rest of the currencies. If risk appetite returns full shape to markets, euro rallies likley to remain subdue compared to other majors Tuesday April 20, 2010 1:55 Valeria Bednarik

1:55	[Comment From GuestGuest: ]  what u think about euro today if boc keep remain rate Tuesday April 20, 2010 1:55 Guest

1:55

Valeria Bednarik:  What I'm seing right now, is that pair is losing momentum after failing to hold above 1.3500; we need to overcome today's high to regain some intraday bullish strength, while under 1.3450/60 area, I dont discard a fall to the 1.3410/20 lows printed yesterday. Tuesday April 20, 2010 1:55 Valeria Bednarik

1:56	[Comment From GuestGuest: ]  how about USDJPY? Tuesday April 20, 2010 1:56 Guest

1:56	Tuesday April 20, 2010 1:56

1:57

Valeria Bednarik:  Well, pair erased most of past friday's loses, and is aprroaching to 93.10 area, 100% retracement. Above it, rally could extend to 93.40 and later 93.75 zone, but in general, i see the pair bullish, as all yen crosses. Anyway, i dont expect this pair to be affected by Cad rates decision, unless shocking change Tuesday April 20, 2010 1:57 Valeria Bednarik

1:58	[Comment From rajraj: ]  what effect on USD Tuesday April 20, 2010 1:58 raj

1:59	[Comment From machariamacharia: ]  hi val...your live chart today is confusing???am not get where the ansers are pls do something Tuesday April 20, 2010 1:59 macharia

1:59

Valeria Bednarik:  well, of course will depend on the decision, but as comment above, will likely affect more CAD and GBP then, than the rest of the crosses. Anyway! Euro is losing momentum quickly, already under support as market start positon adjustments before the data Tuesday April 20, 2010 1:59 Valeria Bednarik

1:59	[Comment From leoleo: ]  do you reckon CAD could reach parity after the rate announcement considering the risk aversion we see last week? Tuesday April 20, 2010 1:59 leo

2:00	Tuesday April 20, 2010 2:00

2:01	Valeria Bednarik:  USD/CAD has been in a clear and strong bearish trend since several weeks for now. I still consider last bullish rally as corrective, and pair is already under that 38.2% short term view Tuesday April 20, 2010 2:01 Valeria Bednarik

2:01	Valeria Bednarik:  RATES UNCHAGED! Tuesday April 20, 2010 2:01 Valeria Bednarik

2:01	Valeria Bednarik:  Cad accelerate to the downside, and approachs to parity Tuesday April 20, 2010 2:01 Valeria Bednarik

2:02	Valeria Bednarik:  dollar is losing ground against others rivals, but as you can see, reaction is quite lmited Tuesday April 20, 2010 2:02 Valeria Bednarik

2:02	[Comment From SebSeb: ]  Good Day Valeria, what would you expect for GBP/CAD today? Thanks Tuesday April 20, 2010 2:02 Seb

2:03	Valeria Bednarik:  we need to give market 15 minutes to settle down and diggest the news, but in general cad crosses had a bearish perspective at this point. Let me take a look at the statment, likley hawkish as expected. Tuesday April 20, 2010 2:03 Valeria Bednarik

2:03	[Comment From kspreddykspreddy: ]  can we go for long in gold at current levels......thanks Tuesday April 20, 2010 2:03 kspreddy

2:04	Valeria Bednarik:  Sorry my friend, I cant' suggest trades here, but what I see is that gold has a support around 1136/38 level, and is technically bullish. Tuesday April 20, 2010 2:04 Valeria Bednarik

2:04	[Comment From GuestGuest: ]  Canada is a oil producer... How about oil price? Tuesday April 20, 2010 2:04 Guest

2:04	Tuesday April 20, 2010 2:04

2:05

Valeria Bednarik:  Good question! as you can see, in the chart, oil has set a base in the $ 80 per barrel zone, that has been a roof for most of the 2009. Prices are unable to fall, and we are currently testing the 38.2% retracement of past daily fall around 83.80 Tuesday April 20, 2010 2:05 Valeria Bednarik

2:06	Valeria Bednarik:  OK! BOC says it 's appropriate to begin removeing monetary stimulus Tuesday April 20, 2010 2:06 Valeria Bednarik

2:07	Valeria Bednarik:  That's hawkish stance, Anyway! and back to oil, I do believe we have a bullish perspective there, heading to 85 where the 61.8% retracement is. above this last, black gold could extend rally Tuesday April 20, 2010 2:07 Valeria Bednarik

2:07	[Comment From backnbackbacknback: ]  can we expect 0.9850 in usd cad today.............thanks Tuesday April 20, 2010 2:07 backnback

2:08	Valeria Bednarik:  Seems a bit too much my friend; however, I do believe that is quite a strong support level, and despite we could beat parity again, not sure if pair could beat that zone. Major long term support area. Tuesday April 20, 2010 2:08 Valeria Bednarik

2:08	[Comment From hardstone1hardstone1: ]  i want to know about g/j Tuesday April 20, 2010 2:08 hardstone1

2:09

Valeria Bednarik:  As comment above, all yen crosses had a bullish perspective, with Japan looking to devaluate their currency. PAir is actually above 143.00, with immediate resistances at 143.40 and 143.90 area. Supports for next hours, are at 142.60 and 142.10 Tuesday April 20, 2010 2:09 Valeria Bednarik

2:09	[Comment From GuestGuest: ]  what is support for euro n resistance Tuesday April 20, 2010 2:09 Guest

2:10	Valeria Bednarik:  Euro is back around 1.3485; resistance lies at 1.3520 , 1.3555 and 1.3580/90 zone, while supports now are at 1.3440 and 1.3410 yesterday's low. Tuesday April 20, 2010 2:10 Valeria Bednarik

2:10	[Comment From machariamacharia: ]  what about gbp/usd? Tuesday April 20, 2010 2:10 macharia

2:11	Tuesday April 20, 2010 2:11

2:12

Valeria Bednarik:  Pair holds a bullish tone since early Europe CPI readings; holding around 1.5380 area quite a support/ressitance level, I see pair correcting slightly early gains; correction could reach 1.5330 support area, without harming the trend, thus seems unlikely after the data, and with cad apporaching to parity. An acceleration above 1.5390 likely leat the pair back to daily high and above to 1.5460 zone, next resistance to consider. Tuesday April 20, 2010 2:12 Valeria Bednarik

2:13	[Comment From GuestGuest: ]  EURJPY? Tuesday April 20, 2010 2:13 Guest

2:13	Tuesday April 20, 2010 2:13

2:15	Valeria Bednarik:  Same scenario as other yen crosses: pair has a bullish tone amid Japan devaluation stance: quoting now around 125.40, pair needs to overcome 125.60 zone to extend the rally to 126.10; i see supports at 125.00, and 124.40 for today Tuesday April 20, 2010 2:15 Valeria Bednarik

2:15	[Comment From leoleo: ]  hi valeria, when do you think canada has a highest chance of increasing their rate considering their strong economy? Tuesday April 20, 2010 2:15 leo

2:16	Valeria Bednarik:  Well, with the hawkish stance since today, seems pretty soon, thus as comment at the beginning, not sure if they will "dare" to move before US. that's of course, a personal apreciation. Tuesday April 20, 2010 2:16 Valeria Bednarik

2:16	Valeria Bednarik:  Maybe June, July, I'm looking for rate hikes in the second half of this year really. Tuesday April 20, 2010 2:16 Valeria Bednarik

2:16	[Comment From WimWim: ]  Any recommendations on the USD/CAD? Tuesday April 20, 2010 2:16 Wim

2:17	Tuesday April 20, 2010 2:17

2:17

Valeria Bednarik:  Pair is testing parity, should consolidate around here, or give a small bulllish corrective movment before another leg down; under parity, next supports are at 0.9960, 0.9920 and 0.9850 strong zone. To the upside now, resistances lie at 1.0030 and 1.0080 Tuesday April 20, 2010 2:17 Valeria Bednarik

2:17	[Comment From ignoreignore: ]  Hi....do you anticipate a drop further down below 1.2900 eur/usd Tuesday April 20, 2010 2:17 ignore

2:19	Valeria Bednarik:  I can't see that at this point my friend; despite I do see the Euro weak, there is a hard road ahead before we reach that area. pair is back testing pre report low: take a look, if gives up likely to extend the fall Tuesday April 20, 2010 2:19 Valeria Bednarik

2:19	[Comment From machariamacharia: ]  cad gaining strongly Tuesday April 20, 2010 2:19 macharia

2:19	[Comment From WimWim: ]  why does usd/cad goes down? Tuesday April 20, 2010 2:19 Wim

2:20	Valeria Bednarik:  Because Cad is strong as Macharia says.. hawkish tone in the policiy meeting, removing stimulus announcing a probable rate hike in a couple of month... Tuesday April 20, 2010 2:20 Valeria Bednarik

2:20	[Comment From leoleo: ]  hi valeria, at what level do you think USD/CAD will bottom tonight? Tuesday April 20, 2010 2:20 leo

2:20	Valeria Bednarik:  if rally extends, no much more than 0.9920/50 area.. tha'ts my last support for today. Tuesday April 20, 2010 2:20 Valeria Bednarik

2:21	[Comment From machariamacharia: ]  what does that mean val n what effect that statement hv in forex? Tuesday April 20, 2010 2:21 macharia

2:23

Valeria Bednarik:  i guess already answer that right? general effect is that we are seing both Aussie and Cad, commodity currencies, gaining strong against dollar, and that anticipates dollar falls in general. But see? majors are not moving all together: market is weighting each currency strength, and moving wisely on that. Cad is under parity Tuesday April 20, 2010 2:23 Valeria Bednarik

2:24	Valeria Bednarik:  on its own strength; yen is above 93.00, on its own weakness Euro is unable to rise, also own weakness, whole aussie holds above 0.9300 Tuesday April 20, 2010 2:24 Valeria Bednarik

2:24	[Comment From jes_tovarjes_tovar: ]  could this affect to GBP/USD? Tuesday April 20, 2010 2:24 jes_tovar

2:25	Valeria Bednarik:  yes, with a slight effect will keep pound limited to the downside, as seems unable to rise. Correcting as comment above, 1.5330 should hold there, to have chances of further rises. Tuesday April 20, 2010 2:25 Valeria Bednarik

2:25	[Comment From troytroy: ]  Where do you see GBPUSD heading from here. Tuesday April 20, 2010 2:25 troy

2:25	[Comment From SanjaySanjay: ]  Hi Val,GBP seems to be heading towards 1,57 area if it closes above yesterday's close? Tuesday April 20, 2010 2:25 Sanjay

2:27

Valeria Bednarik:  I believe that pound will remain ranging in betwee 1.52/1.54 till elections first day of March. really, don't see the 1.57 posible before that. we really need to regain first 1.55 before talking of 1.57... and as comment above, correcting maybe to 1.5330 Tuesday April 20, 2010 2:27 Valeria Bednarik

2:27	[Comment From cornelcornel: ]  can we go long on eur/usd now? Tuesday April 20, 2010 2:27 cornel

2:27	Valeria Bednarik:  You can do whatever you want.. but let me ask you why? do you have a trading technical indication? a signal? a sistem? what is telling you to buy? Tuesday April 20, 2010 2:27 Valeria Bednarik

2:28	[Comment From sandrasandra: ]  at what level do you think the pair will bottom tonight? Tuesday April 20, 2010 2:28 sandra

2:29	Valeria Bednarik:  I believe you talk about cad.. in between 0.9920/50 seems to be it for me, and technically talking. Tuesday April 20, 2010 2:29 Valeria Bednarik

2:29	[Comment From FawadFawad: ]  hi, Val, do u c eur/usd to 1.4000 in this quarter. or u c it breaking the low of 3266 Tuesday April 20, 2010 2:29 Fawad

2:29	[Comment From SanjaySanjay: ]  Hi Val,why do you see EUR bearish as charts will turn bullish for short term if it manages a close above yesterday's or 1,35 area. Tuesday April 20, 2010 2:29 Sanjay

2:31	FXstreet.com:  Sorry we have Just 15 minutes left. If you have anything related Forex market, please do not hesitate to ask Valeria. Tuesday April 20, 2010 2:31 FXstreet.com

2:31

Valeria Bednarik:  fawad, seems we are closer to break lower, than reaching that 1.40 area, and Sanjay, well good comment see? I call short term intraday, hourly charts, 4 hours chart, and at this point both look bearish to me. Hourly show indicators breaking lowe, giving sings to the downside, while 4 hours show strongly bearish SMA and price capped under it. that's my reading Tuesday April 20, 2010 2:31 Valeria Bednarik

2:31	[Comment From GuestGuest: ]  Hi. If Canada wont raise before U.S then usdcad should appreciate? Tuesday April 20, 2010 2:31 Guest

2:33

Valeria Bednarik:  Pair won't appreciate just because 1 factor. Don't forget there are a lot of factors weigthing in each an every pair.. Non of them is rising rates. Oil is rising; BOC is hawkish...just to mention some of the gactors weithghting there now Tuesday April 20, 2010 2:33 Valeria Bednarik

2:33	[Comment From nishanisha: ]  Will cad/usd go down,,, Tuesday April 20, 2010 2:33 nisha

2:34	Valeria Bednarik:  well we break under parity, reached 0.9970 area, and pair is now testing parity again, correcting slightly to the upside; maybe 1.0020/30 area, yet in general, pair remains bearish, yes Tuesday April 20, 2010 2:34 Valeria Bednarik

2:34	[Comment From ignoreignore: ]  what happens then when USA raises rates and euro is under 1.3000? Tuesday April 20, 2010 2:34 ignore

2:35	Valeria Bednarik:  i can't imagine which level pair will be, before the rate hike, or when this will take place, so seems advancing a bit to much in the history.. See what happened the past 2 weeks! Tuesday April 20, 2010 2:35 Valeria Bednarik

2:35	Valeria Bednarik:  euro zone made an agrement to bailout Greece, and everyone was optimistic, with euro gapping to the upside 100 pips in a Sunday opening, testing 1.3600. Tuesday April 20, 2010 2:35 Valeria Bednarik

2:36	Valeria Bednarik:  Next week? US SEC sues for fraud Goldman Sachs, and pair gapped TO THE OTHER DIRECTION.. and moves under 1.3500... Tuesday April 20, 2010 2:36 Valeria Bednarik

2:37	Valeria Bednarik:  there are lots of things we, as traders, CAN'T FORECAST. We can only handle a couple of things: data, technical analysis, and over all OUR ACCOUNTS. Risk management, wise trading, either short or long one, but keep that in mind please. Tuesday April 20, 2010 2:37 Valeria Bednarik

2:37	[Comment From rajibrajib: ]  dont u see any pullback towards 1.0400 level in midium term?coz last low of .9950 is not a bad support Tuesday April 20, 2010 2:37 rajib

2:38	Valeria Bednarik:  good comment my friend. yet stll I see a huge resistance around 1.0250.. weekly lows and highs so only above that area, I will start to consider pair could lose the bearish tone.. not before. Tuesday April 20, 2010 2:38 Valeria Bednarik

2:39	Valeria Bednarik:  Sorry, I'm seing a lot of questions of trading positions. I can't suggest trades here, my friends. Tuesday April 20, 2010 2:39 Valeria Bednarik

2:39	[Comment From rajibrajib: ]  EurGbp is forming a base near .8740 and even there is a big consolidation in the weekly chart also and upside breakout is mostly possible.then how can it be possible for GBPUSD to even touch 1.55? Tuesday April 20, 2010 2:39 rajib

2:41	Valeria Bednarik:  Good appreciation, yet remember, is also Euro behaviour weighting in the pair. Anyway I donLt see Pound reaching 1.55.. what I sai dis that only IF the pair, overcomes that area, we could start talking of 1.5700 ... not before Tuesday April 20, 2010 2:41 Valeria Bednarik

2:42	[Comment From SanjaySanjay: ]  Hi Val, there seems to be ichimoku cloud building over USD/JPY at 93,60 levels which should give 100 pip downside?agree? Tuesday April 20, 2010 2:42 Sanjay

2:44

Valeria Bednarik:  I believe you are looking at the 4 hours charts here. 93.70 has been a strong resistance area, yet if you llok at daily or weekly charts, you will see price above the cloud, adn remember this ndicator is ment to be in bigger time frames.. we are only under the cloud in the 4 hours charts, and that area is aresistance level, not an entry point or an indicator signal Tuesday April 20, 2010 2:44 Valeria Bednarik

2:45	[Comment From MungoMungo: ]  CAD triple bottom on weekly, just a comment Tuesday April 20, 2010 2:45 Mungo

2:45	[Comment From rajibrajib: ]  Val, dont you think this pair (USDCAD) can again close the day above 1.0050? Tuesday April 20, 2010 2:45 rajib

2:46	Valeria Bednarik:  Tks Mungo for the appreciation! you are absolutely right. And seems unlikley Rajib.. let's see what Wall Street brings us now. but pair is bearish today. Tuesday April 20, 2010 2:46 Valeria Bednarik

2:46	FXstreet.com:  Sorry we are short of time today, I have to wrap up the session. Tuesday April 20, 2010 2:46 FXstreet.com

2:47	FXstreet.com:  Thank you Valeria for the great market view!... and every one who has joined the session today. I have had a great time with you. Tuesday April 20, 2010 2:47 FXstreet.com

2:47	FXstreet.com:  Valerica, please give us a final word Tuesday April 20, 2010 2:47 FXstreet.com

2:47	Valeria Bednarik:  Ok all! tks for being here, as usual, I really enjoy this live coverages hope you also! Tks fxstreet.com also for giving us this space. Tuesday April 20, 2010 2:47 Valeria Bednarik

2:48	Valeria Bednarik:  Remember what I told you: lot's of umpredictable things could happen..focus on what you can actually control! Have a great trading day! Tuesday April 20, 2010 2:48 Valeria Bednarik

2:48	[Comment From rajibrajib: ]  thanks Val for all your comments and help. Tuesday April 20, 2010 2:48 rajib

2:49	FXstreet.com:  Alright evey one,, Thank you for coming today! I hope to see you all in the next live coverage. Have a nice trading day! Bye for now! Tuesday April 20, 2010 2:49 FXstreet.com

2:49	FXstreet.com:  Information and opinions contained in this live coverage session are for educational purposes only and do not constitute trading recommendations. Tuesday April 20, 2010 2:49 FXstreet.com

2:49

FXstreet.com:  Trading OTC Forex on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange or futures you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange and futures trading, and seek advice from an independent financial advisor if you have any doubts. Tuesday April 20, 2010 2:49 FXstreet.com

2:49

 

 

Asian Session: Live Market Analysis

Expert: Dr.S.Sivaraman, CEO and owner at i-knowindices.com
Moderator: Maud Gilson, Conference Manager

Summary:

Dr. Sivaraman will review the previous day close levels and calls given in his blog and present expected trading ranges in 4 majors and 2 commodity pairs.