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The NY Morning Forex Commentary for Feb 8th is available for viewing

 Register for the FXDD Webinar this afternoon: Topic: Setting up your Metatrader Platform

The FXDD Midday Forex Commentary is available for viewing

  • EURUSD moves above the 100 day MA but finds sellers at intraday resistance
  • GBPUSD tests 100 hour MA today but falls off.  
  • USDJPY trades in a narrow trading range and seems reluctant to wander far away
  • USDCHF remains supported but pausing after recent moves higher
  • Gold tests 1352 resistance and holds.
  • USDCAD tries to break above the 100 hour MA after testing it on Friday and early trade today.

For a look at these pairs, click on the following link:

Gold waffles around in quiet Monday trading

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Gold, is waffling around today but has moved below the 38.2% retracement of the move down from the January 2011 high of 1423.83 to the low at 1307.95. That level comes in at the 1352.22 level. On Friday the price approached the 100 day MA at the 1361 level today, and found sellers. If the price can remain below the 1352.22 area, the bias remains to the downside. If the price can not find sellers against the level, it is likely the price makes another run at testing the 100 day MA.

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