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The Japanese yen is indeed gaining to start the week. The USD is also strengthening in a risk adverse environment. This is reflected in the moves of the EUR/USD, GBP/USD, EUR/JPY and GBP/JPY. The USD/JPY is also inching towards the 83.00 target level. Finally the EUR/GBP indeed topped off near 0.84 as anticipated last week.

Forex Technical Update 8/31/2010 The EUR/USD had a sharp correction rally in the European session but did not invalidate the bearish swing outlook just yet. You can also see the Euro pare losses against the Yen, but the Japanese currency remains firm. The USD/JPY continues to decline. The Swiss franc dominated the European session as the EUR/CHF is at an all-time low, and USD/CHF is at a 7-month low. The CHF also is also threatening to outperform the Japanese Yen as a safe haven currency. Fan Yang CTA Technical Analyst www.fxtimes.com

The US Dollar slid against its major rivals as higher global equities helped to dampen demand for safe-haven currencies like the US Dollar and Japanese Yen. The weakness in the Dollar overnight was also due to the weak data that has come out this week, which has led to increased speculation that Fed Chairman Bernanke may suggest further quantitative easing during his speech on Friday at the Jackson Hole Symposium. News Provided by CMS Forex www.cmsfx.com Market Analyst Nick Nasad

Bernanke outlined what he thinks the central bank will have to do if the economy continues to weaken further. Steps include more quantitative easing or lowering the rate paid to banks to hold reserves with the Fed. Still, he tried to focus on the sustainability of the recovery, and tried to calm fears over deflation. The result was a rally in stock and risk appetite which helped to power higher yielders higher (like the Euro, Aussie) vs. safe-have assets (Yen and Dollar). News Provided by CMS Forex www.cmsfx.com Market Analyst Nick Nasad

Forex Technical Update 8/17/2010 FXTimes Fan Yang, CTA The USD is in mixed trading today. The EUR/USD strengthened slightly while the GBP/USD slid, but still remains in consolidation. The USD/JPY is following our bullish count scenario so far and we will get a very important clue today. The USD/CAD is declining after testing resistance. Finally I will follow up on the EUR/GBP, which is in a strong pullback that is challenging my bearish outlook.

US jobless claims rose to their highest in 9 months, while the Philly Fed manufacturing index turned unexpectedly negative. The fear of a double-dip recession will rise as a result. Currencies tied to risk appetite like the Australian and Canadian Dollars suffered, and the Dollar slipped sharply against the Yen. The European majors – Euro and Pound – consolidated for the most part, staying with recent ranges, though the UK did post strong data giving the Pound a pop. News Provided by CMS Forex www.cmsfx.com Market Analyst Nick Nasad

London started today by showing strong stings of continuing the Asian upward direction on many pairs. However, we found ourselves directly on resistance as the London Market itself opened for business, which generally leads to selling, at least on the short term. So while our daily outlook for the overnight session was continuation for many pairs, short term scalp opportunities on pullbacks definitely looked to exist. We focus on one such opportunity in this video involving the EUR/JPY. While the pre-London scalp worked fine, the London open entry ended up being a dud. This video was made to show you that not every plan works as intended, but if you enter your trades properly, you can usually walk away from even a failed trade with a worse case scenario of break even, or maybe a handful of pips. This is why patience, discipline, proper risk vs reward ratio’s, and ultimately Trader Psychology is are such important elements of a successful trade of anything, not just Forex. FXBootcamp London Currency Coach- Christian Stephens

The Euro suffered another round of selling as Standard & Poor’s followed up its downgrade of Greece and Portugal yesterday with a downgrade to Spain’s credit rating. That pressured the Euro, though risk sensitive currencies like the Aussie and Loonie managed to gain on today’s session. The FOMC upped its outlook for the economy but kept its pledge to hold rates at their low levels for an extended period helping to boost risk appetite in US equities and oil. Finally, the Pound was pressured by comments on its economy from a former MPC member. News Provided by FXTimes/CMS Forex www.fxtimes.com http Analyst: Nick Nasad Open up a free practice account and start trading Forex today.

Uncertainty and risk aversion reigned in the currency markets today as Standard & Poor’s downgraded Greece’s sovereign debt rating to junk status while also downgrading Portugal. That caused a sharp sell-off of Euro’s and other higher yielders and buying of safe-haven currencies like the US Dollar and Yen. News Provided by FXTimes/CMS Forex www.fxtimes.com http Analyst: Nick Nasad Open up a free practice account and start trading Forex today.

The Euro rallies as the Greek government formally asked to receive the bailout funds from the EU-IMF aid package. We also had positive fundamentals from the Euro-zone in the form of the IFO business index and new industrial orders. The Pound slid on weak GDP data, but recovered as risk appetite was stronger in NY trading. In addition to higher US equities the US also posted very strong housing sales data. News Provided by FXTimes/CMS Forex www.fxtimes.com http Analyst: Nick Nasad Open up a free practice account and start trading Forex today.