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Daily Technical Analysis

2010-03-15T08:11:00.000-07:00

Market Expectations EUR/USD ,GBP/USD,USD/JPY,12 Mar 2010

2010-03-12T02:06:00.000-08:00

Market Expectations

EUR/USD :Stochastic indicator for the pair Euro against the U.S. dollar appears saturated in the procurement process as shown by the hour and four hours chart, the pair failed to break the resistance level at 1.37050, we expect today decline for the pair to the target level of 1.35800, and this requires penetration of the near support level 1.36620.

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GBP/USD : We expect today for the pair sterling against the U.S. dollar back down to test the resistance level again at 1.49900, in case the pair can penetrate this level it will decline to the 1.49400 and then 1.48300.

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USD/JPY :The dollar against the yen Continue volatility near the level of 90,650 , today we expect a continuation of the volatility around this level and in the event of breakthrough the pair will rise to 91.450.

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The Wild Card EUR/JPY 12 Mar 2010

2010-03-12T00:53:00.000-08:00

Friday, 12 Mar 2010
The Wild Card
EUR/JPY

Yesterday the pair made a modest correction to the upward sloping price trend that began on February 25th. The price failed to breach this trend line, indicating the uptrend is still intact. The 7-day RSI has also maintained its rising trend line and continues to move higher. The pair could rise to its short term resistance level of 0.9150. Forex traders may want to be long on this pair as a breach of this price could propel the pair to its next resistance level of 0.9410.

Dollar Lower ,on Mixed Data

2010-03-12T00:19:00.001-08:00

Friday, 12 Mar 2010
Dollar Lower ,on Mixed Data

The Dollar remained lower against higher yielding currencies today, after mixed economic data published yesterday. Crude Oil prices remained mainly unchanged on concerns of Chinese monetary policy tightening which might dampen the country's demand for commodities.

The Wild Card EUR/USD ,GBP/USD, USD/JPY, March 11 2010

2010-03-11T02:33:00.000-08:00

Market Expectations

EUR/USD :Stochastic indicator for the Euro against the U.S. dollar pair appears saturated in the procurement process for the hour and for the four hours, we expect downward trend today. Our primary target for the pair is to test 1.35850 and then 1.35200.

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GBP/USD : Stochastic indicator for the sterling dollar pair appears saturated in the procurement process, which makes us expect a downward trend for the pair to test 1.48990 and can achieve 1.47800.

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USD/JPY : We expect a bullish intraday direction that requires the breach of 90.750 and target 91.450. Keep in mind that the breach of 90.000 will weaken chances of achieving these expectations. Stable trading above the 200 day moving average at the 90.000 is necessary to achieve our expectations.

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The Wild Card Gold 11 Mar 2010

2010-03-11T02:18:00.000-08:00

Thursday, 11 Mar 2010

The Wild Card

Gold

Gold prices are once again dropping, and it is currently traded around $1107.45 an ounce. And now, the 8-hour chart's RSI is giving bullish signals, indicating that gold prices might go up. This might give forex traders a great opportunity to enter a very popular trend.

Bearish Dollar Will Try and Recover Losses Today

2010-03-11T00:24:00.000-08:00

Thursday, 11 Mar 2010

Bearish Dollar Will Try and Recover Losses Today

Following yesterday's bearish downturn for the U.S. Dollar, the greenback will try and recover some of its losses with the help of several critical economic indicators today. Both the U.S. Trade Balance Report and this week's unemployment claims are likely to have an impact on Dollar positions. Whether or not they can provide USD with the necessary momentum to reverse its current direction is yet to be known.

The Wild Card EUR/USD ,GBP/USD, USD/JPY, March 10 2010

2010-03-10T02:34:00.000-08:00

Wednesday March 10 , 2010

Market Expectations

EUR/USD :Determined Indicators for the pair euro against the U.S. dollar appears saturated in the procurement process, signals of a down trend formation started appearing on the the pattern appear through the formation of candles, we expect a decline for the pair today aimed initially at 1.35010 and then re-test support level at 1.34450, and this requires constant for trading below the level of 1.36670.

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GBP/USD : Determined Indicators for the pair sterling against the U.S. dollar appears saturated in the procurement process, and we expect today's decline for the pair re- test the support level 1.47800 then the level of 1.47200.

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USD/JPY : We expect today for the pair the dollar against the Japanese yen downtrend aimed at areas 90,000 and then 89,700, Stochastic indicator for one hour and for four hours in addition to support our expectations for this day.

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The Wild Card Silver 10 Mar 2010

2010-03-10T01:27:00.000-08:00

Wednesday, 10 Mar 2010

The Wild Card

Silver

The 4H chart's Bollinger Bands appear to be tightening on this commodity as prices prepare for a volatile jump. With bearish crosses on the hourly and daily Slow Stochastic, as well as an over-bought indication on the 4-hour RSI, the next major movement may indeed be in a downward direction. Forex traders involved in commodity trading can take advantage of this knowledge by going short on Silver and riding out what appears to be building up to be a sharp movement in price.

Riskier Assets in Demand; Europe Debt Worries Remain

2010-03-10T00:25:00.000-08:00

Wednesday, 10 Mar 2010

Riskier Assets in Demand; Europe Debt Worries Remain

Investors raised their appetite for riskier assets during yesterday's trading, but still avoided European and British currencies because of debt worries. The big gainers yesterday were the AUD and CAD, both currencies are linked to commodities, in particular crude oil. Crude oil had recently gained in positive momentum, although it closed slightly lower yesterday. The question remains whether the EUR and GBP will attract some of the appetite for riskier assets.

The Wild Card EUR/USD ,GBP/USD, USD/JPY, March 9 2010

2010-03-09T01:37:00.000-08:00

Tuesday March 9 , 2010

Market Expectations

EUR/USD :We expect today for the pair euro against the U.S. dollar to fluctuate around the support level of1.35850 before continuing the decline towards to the level of 1.35250 and then re-test the support level at 1.34350.

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GBP/USD : We expect today for the pair sterling against the U.S. dollar to fluctuate around the support level at 1.49850 before continue the process of depreciating to the first target at the level of 1.48600 and then 1.47750, these expectations requires constant trading below the 1.50800.

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USD/JPY : We expect a bearish intraday trend that will target first 89.300 then 88.600. It is vital that level 90.600 remain intact to maintain chances of achieving these expectations.

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The Wild Card GBP/AUD 9 Mar 2010

2010-03-09T00:36:00.001-08:00

Tuesday, 9 Mar 2010

The Wild Card

GBP/AUD

The pair's recent downward trend may be seeing some correction today as the hourly, 2 hour, 4 hour and daily RSI are floating in the oversold territory and a bullish cross is evident on the hourly and 2 hour charts' Slow Stochastic. A breach of the lower Bollinger Band is also evident on the 4 hour chart. Forex traders are advised to go long for today.

Greece Debt Concerns Ease, EUR Currently Bullish

2010-03-08T23:52:00.000-08:00

Tuesday, 9 Mar 2010

Greece Debt Concerns Ease, EUR Currently Bullish

Some of the latest price movements in the EUR have reflected a growing sense of optimism in the Euro-Zone, given the mild easing of debt concerns in Greece. Switzerland also appears to be having a positive effect on the region with a recent report which showed retail sales climbing much higher than forecast last month. Investor confidence in the region also appears to have risen slightly better than was anticipated. Whether Europe can sustain this bullish momentum is yet to be seen, but so far the regional currencies appear to be holding their gains.

The Wild Card EUR/USD ,GBP/USD, USD/JPY, March 8 2010

2010-03-08T01:57:00.000-08:00

EUR/USD : Determined Indicators for the pair Euro against the U.S. dollar appears saturated in the procurement process, which make us expect today down trend for the pair to test the support level at 1.35680, MACD supports our expectations which began to show negative signs.

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GBP/USD : Sterling gained against the U.S. dollar at the beginning of trading session to achieve the highest at the resistance level of 1.51860; determined indicators show saturation in the procurement process which may lead the pair to drop to the level of 1.50846 and 1.50366.

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USD/JPY : We expect trading to remain below 91.000, with a chance of a bearish trend remaining intact. The breach of 88.220 to the downside will create a sharp bearish direction.

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The Wild Card AUD/JPY 8 Mar 2010

2010-03-08T01:09:00.000-08:00

Monday, 8 Mar 2010

The Wild Card

AUD/JPY

The pair's 2 hour, 4 hour and 8 hour RSI are floating in the overbought territory. A breach of the upper Bollinger Band is evident on the 4 hour and 8 hour charts, while a bearish cross is evident on the 4 hour and 8 hour charts' Slow Stochastic. Forex traders may be advised to go short for the day.

Market's Calmness Looks to End

2010-03-08T00:30:00.000-08:00

Monday, 8 Mar 2010

Market's Calmness Looks to End

After a week of relatively peaceful trading, much harsher volatility is expected for this week's trading. The main questions for this week are whether the U.S. economy will continue to provide positive data and whether the Greek debt crisis will reach a solution. An answer to each of these questions will have a significant impact on the market.

The Wild Card EUR/USD ,GBP/USD, USD/JPY, March 5 2010

2010-03-05T01:17:00.000-08:00

Friday March 5 , 2010

EUR/USD : We expect Today a downward trend for the pair euro against the U.S. dollar to test the support level at 1.34450, this expectations requires constant trading below 1.36680 and penetration the support level at 1.35360.

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GBP/USD : we expect Today volatility in the movement of the pair sterling against the U.S. dollar before today's economic data from the U.S, indicators of the relative strength show some Mixed readings , which may postpone resolving the Daily trend. But in general we expect that the pair will re-test the support level at 1.49570 during the trading day.

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USD/JPY : We expect a bullish trend over an intraday basis that will start targeting 89.320 then head towards 90.450 mainly. The possible fluctuation could be between 89.320 and 90.000 to insure the strength of these levels.

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The Wild Card OIL 5 Mar 2010

2010-03-05T00:23:00.000-08:00

Friday, 5 Mar 2010

The Wild Card

OIL

The daily chart shows some resistance. Both the 14-day RSI and the 7-Day RSI have crossed back below the overbought region, indicating sell signs. The MACD histogram is downward sloping, indicating a weakening trend. The MACD lines also appear headed for a bearish cross. Forex traders may want to scale back any long positions they may have and go short on crude oil today.

U.S. Non-Farm Payrolls Set to be Released Today! 5 Mar 2010

2010-03-04T23:26:00.000-08:00

Friday, 5 Mar 2010

U.S. Non-Farm Payrolls Set to be Released Today!

The forex market is bracing itself for some heavy volatility as the U.S. Non-Farm Payrolls figure is set to be released today. The monthly report is one of the most significant market indicators and will heavily impact Dollar pairs.

The Wild Card EUR/USD ,GBP/USD, USD/JPY, March 4 2010

2010-03-04T00:40:00.000-08:00

EUR/USD :The pair Euro against the dollar rose yesterday after it penetrated the resistance level at 1.36550, the pair completed the corrective movement as we expect , and we expect that the pair should be return to land again, these expectation requires closure of a candle one hour below the level of 1.36550. We must note the Economic data that will issue from Euro Zone about Minimum Bid Rate.

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GBP/USD : Sterling against the U.S. dollar Succeeded to achieving the 61.8% Fibonacci at 1.51300 for the last decline, we expect today on a downward trend for a couple to first target level at 1.49600 then to the level 1.48800, these expectations requires closure candle four hours below the level of 1.50500. We must note the Economic data that will issue from United Kingdom about Official Bank Rate.

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USD/JPY : We expect today for the pair U.S dollar against the Japanese Yen a bearish direction prevailing over an intraday basis; main targets start at 87.660 then 86.800. Chances of achieving this bearish direction will remain intact if the four-hour closing remains below 90.000.

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Dollar Falls vs. EUR on Positive ISM Data 4 Mar 2010

2010-03-03T22:56:00.000-08:00

Thursday, 4 Mar 2010

Dollar Falls vs. EUR on Positive ISM Data

The U.S. dollar traded lower Wednesday as investors moved to higher-yielding currencies and riskier assets after U.S. data was better than expected. ISM service data showed the U.S. services sector grew in February at its fastest pace in more than 2 years, reducing the appeal of the greenback as a relatively safe investment.

The Wild Card EUR/USD ,GBP/USD, USD/JPY, March 3 , 2010

2010-03-03T02:07:00.000-08:00

EUR/USD :The euro against the U.S. dollar Try to penetration resistance level at 1.36550, but bounced back quickly, which leads us to expect that the correction to the recent wave has been completed, and therefore we expect today's down for a couple to the targets 1.34400 , these expectations requires a breakthrough for the support level at 1.35850.

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GBP/USD : The pair Sterling against the U.S. dollar has a touch with the resistance level of 1.50700 then Recoil, we expect today's down for a couple to the support target at 1.48500.

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USD/JPY : We expect a possible bearish intraday direction; targets start at 88.220 then 87.650. The bearish short term wave will prevail if 90.000 remain intact.

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EUR Recovers Slightly as Greece's Budget Woes Ease

2010-03-03T00:15:00.000-08:00

Wednesday, 3 Mar 2010

EUR Recovers Slightly as Greece's Budget Woes Ease

The USD fell Tuesday versus the EUR on comments from Greek officials regarding the government's commitment to make major budget cuts necessary to reduce the deficit. Pressuring the Dollar further were hawkish statements regarding interest rate hikes from the Canadian and Australian central banks.

The Wild Card EUR/USD ,GBP/USD, USD/JPY, March 2 , 2010

2010-03-02T00:55:00.000-08:00

Market Expectations

EUR/USD :We expect Today a decline for a couple of the euro against the U.S. dollar first re-designed to test the support, level at 1.34850 then 1.34190 ,In the case of penetration of these levels go towards new goals to the level of1.33250.

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GBP/USD : Stochastic indicators show negative signs for a couple of sterling against the U.S. dollar, which makes us expect a downward trend today for the pair to test again the level of 1.47800.

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USD/JPY : We expect a downward trend for a couple of the U.S. dollar against the Japanese yen today resides on the main objectives of 88.200. Wave short-term downside require the closure of four hours below the level 90.300.

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Safe Heaven Currencies Continue to Rise on High Risk Aversion

2010-03-01T23:49:00.000-08:00

Tuesday, 2 Mar 2010

Safe Heaven Currencies Continue to Rise on High Risk Aversion

The U.S. Dollar and Yen firmed against most major counterparts on Monday as investors trimmed stretched risk positions in higher-yielding currencies. The safe heaven currencies were bolstered by continuing investor concerns over mounting fiscal problems in Euro-zone countries and doubts over the pace of the worldwide economic recovery.

2010-03-01T01:13:00.000-08:00

Monday, 1 Mar 2010

The Wild Card

Oil

Oil prices rose significantly in the last week and peaked near $80 a barrel. However, the daily chart's RSI is floating in the over-bought territory, suggesting that the recent upwards trend is losing steam and a bearish correction is impending. This might be a good opportunity for forex traders to enter the trend at a very early stage.

Non-Farm Payrolls Week Begins

2010-03-01T00:25:00.000-08:00

Monday, 1 Mar 2010

Non-Farm Payrolls Week Begins

After a week which was mostly characterized with the halt of the Dollar's bullish trend, a hefty news week is impending. Australia, Canada, Great Britain and the Euro-Zone will all publish their monthly Interest Rates desiccations. And on top of it all, the U.S. Non-Farm Payrolls is expected on Friday. This means that an extremely volatile week is expected that holds plenty of unique opportunities to make irregular profits.

The Wild Card Oil 26 Feb 2010

2010-02-26T01:01:00.000-08:00

Friday, 26 Feb 2010

The Wild Card

Oil

The daily chart shows yesterday's high price volatility did send the pair below the long term trend line that begins on February 5th, but the price breach failed to close below the trend line. This may present forex traders an excellent opportunity to enter into the market long on the recent price dip.

Bernanke Reaffirms Low Interest Rates

2010-02-26T00:05:00.000-08:00

Friday, 26 Feb 2010

Bernanke Reaffirms Low Interest Rates

Rumors of another possible downgrade of Greece by Standard & Poor convinced traders to sell the EUR in favor of higher yielding currencies like the Yen, as well as the EUR's traditional rival, the USD. But the Dollar's gains have become muted since Federal Reserve Board Chairman Ben Bernanke continued his testimony yesterday and reaffirmed keeping interest rates at record lows. While helping US stocks rise, the greenback has suffered a minor downturn.

The Wild Card CHF/JPY 25 Feb 2010

2010-02-25T01:21:00.000-08:00

Thursday, 25 Feb 2010

The Wild Card

CHF/JPY

The latest downward movement on this pair has given traders two distinct signals for a bullish correction later today. The first is a bullish cross on the 1 hour Slow Stochastic, suggesting a upward movement is imminent. The second is a fresh doji candlestick formation on the 4-hour chart, which typically signals a reversal is in the making. Entering long positions as soon as possible may help forex traders capture decent profits.

Forex Market Anticipates the Release of U.S. Unemployment Claims

2010-02-25T00:14:00.000-08:00

Thursday, 25 Feb 2010

Forex Market Anticipates the Release of U.S. Unemployment Claims

The U.S. Unemployment Claims is the primary publication today that is set to determine the level of the USD when it is released at 13:30 GMT. The other main releases that are set to dominate forex trading, especially for currencies such as the Dollar and EUR is the publication of the German Unemployment Change and British CBI Sales at 8:55 GMT and 12:45 GMT respectively. Traders may find good opportunities to enter the market following these vital announcements

The Wild Card USD/MXN 24 Feb 2010

2010-02-24T01:31:00.000-08:00

Wednesday, 24 Feb 2010

The Wild Card

USD/MXN

After a volatile breach of the upper border of the Bollinger Bands on the hourly chart, this pair now appears positioned for a steady downward correction. Bouncing from the lower border to the upper border in the 4-hour Bollinger Bands supports this notion. Forex traders can also see that the price is currently floating in the over-bought territory on the 4-hour RSI, and a fresh bearish cross has recently formed on the 4-hour Stochastic (slow). Going short on the Dollar against the Mexican Peso in today's trading may not be a bad idea.

USD Furthers Gains on EUR ahead of Bernanke Testimony

2010-02-24T00:31:00.000-08:00

Wednesday, 24 Feb 2010

USD Furthers Gains on EUR ahead of Bernanke Testimony

The U.S. Dollar saw some major gains on the Euro last night. The pair went as low as 1.3500 before rebounding to its current level of about 1.3540. Today, Fed Chairman Ben Bernanke is scheduled to testify before the U.S. Congress, an event likely to create heavy market volatility throughout his testimony and in the minutes after.

The Wild Card Crude Oil 23 Feb 2010

2010-02-23T00:14:00.000-08:00

Tuesday, 23 Feb 2010

The Wild Card

Crude Oil

Looking at the weekly chart for this commodity shows a very distinct bullish channel with clear peaks and troughs. The $80 a barrel mark seems to represent the most significant price barrier for this commodity. As the price currently sits on this barrier, forex traders would be wise to note the recent bearish cross on the daily Stochastic (slow) and the over-bought indication on the daily RSI, both suggesting that the $80 mark is indeed putting heavy pressure on the price of oil. Going short and capturing the downward price move may be a wise decision.

U.S Dollar Up ahead of Bernanke Testimony

2010-02-22T23:13:00.000-08:00

Tuesday, 23 Feb 2010

U.S Dollar Up ahead of Bernanke Testimony

The U.S. Dollar briefly stayed higher versus the EUR on Monday and near an 8-month high versus other major currencies as traders await Fed Chairman Ben Bernanke's testimony on Wednesday and Thursday that would set the tone for the greenback in the coming days and possibly highlight future decisions regarding interest rates following the recent rise in the discount rate.

EUR/USD Rises and Falls with Debt Concerns in Europe

2010-02-22T05:46:00.000-08:00

Monday, 22 Feb 2010

EUR/USD Rises and Falls with Debt Concerns in Europe

Following last Friday's late-session rise in the EUR, the 16-nation single currency fell today at the opening of the European markets. Concerns over Greece persist, and sovereign debt and spending issues are arising in other European Monetary Union countries as well, most notably in Portugal, Ireland, Italy, and Spain. Forex participants are witnessing the results of this turn of events with the simple rise in the EUR at week's end followed by today's downturn within the broader bearish channel which the EUR has been operating in for some time now.

The increase of the discount rate by the US Federal Reserve also helped hype up the US Dollar in today's afternoon trading sessions. As the anticipation for a rate hike were building, the USD was steadily rising. However, as the anticipation eases, so does the USD's momentum. Friday's downturn was a testament to this situation.

Will the Euro Continue to Recover? 22 Feb 2010

2010-02-21T23:24:00.000-08:00

Monday, 22 Feb 2010

Will the Euro Continue to Recover?

Last week's trading was mostly characterized by the sharp change of trends in the market. The most notable trend reversal was of the Euro, which dropped during the beginning of the week, just to bounce back later on, due to speculations of a Greek rescue plan. The main question for this week's trading is whether the Euro will continue to recover, or will the EUR/USD pair will reach a new low.

The Wild Card GBP/AUD 19 Feb 2010

2010-02-19T01:06:00.000-08:00

Friday, 19 Feb 2010

The Wild Card

GBP/AUD

The 2 hour, 4 hour, 8 hour and daily RSI are floating in the oversold territory with a bullish cross evident on the daily and 4 hour charts' Slow Stochastic indicating an imminent upward movement. Forex traders may be advised to go long for the day.

Dollar Skyrockets after Federal Reserve Increases Discount Rate 19 Feb 2010

2010-02-19T00:12:00.000-08:00

Friday, 19 Feb 2010

Dollar Skyrockets after Federal Reserve Increases Discount Rate

The Dollar surged in value versus the euro after the Federal Reserve surprised the forex market late yesterday by raising a key interest rate. This may be the first stage in rolling back its stimulus packages enacted during the financial crisis.

The Wild Card Gold 18 Feb 2010

2010-02-18T01:46:00.000-08:00

Thursday, 18 Feb 2010

The Wild Card

Gold

Gold prices are in the midst of a very strong downtrend, and an ounce of gold is currently traded for about $1100. The hourly chart shows that the current price has dropped beneath the Bollinger Bands' lower border, indicating that the bearish move is still quite strong. This might be a good opportunity for forex traders to join a very popular trend.

Unemployment Claims in Focus Today 18 Feb 2010

2010-02-18T00:55:00.000-08:00

Thursday, 18 Feb 2010

Unemployment Claims in Focus Today

The Forex market awaits crucial U.S. data today in the PPI and Unemployment Claims figures at 13:30 GMT. These publications are set to drive the pace of the forex market throughout the trading day. Forex traders are advised to open their USD positions now, prior to the release of the vital economic data from the leading economies.

The Wild Card AUD/USD 17 Feb 2010

2010-02-17T02:55:00.000-08:00

Wednesday, 17 Feb 2010

The Wild Card

AUD/USD

On the daily chart the moderate bullish price movement continues within the upwards channel which still has yet to be breached. The 4-hour chart is also joining that notion with the Slow Stochastic pointing to the continuation of upwards momentum. The next testing point should be around 0.9090 . Forex traders have a good opportunity to enter what appears to be the beginning of a steady rising trend.

Easing Concerns over Greece's Debt Boost the EUR 17 Feb 2010

2010-02-17T01:39:00.000-08:00

Wednesday, 17 Feb 2010

Easing Concerns over Greece's Debt Boost the EUR

The USD declined against the EUR yesterday as anxiety over Greece's debt situation is losing ground. Also better than expected economic data from the U.S and Europe helped boost risk appetite, pushing investors to riskier currencies and commodities

The Wild Card EUR/JPY 16 Feb 2010

2010-02-16T01:03:00.000-08:00

Tuesday, 16 Feb 2010

The Wild Card

EUR/JPY

A period of consolidation has left the pair tight against the daily chart's downward sloping trend line that began on January 14th. The 7-day daily chart shows the pair has hit a significant resistance level for the fourth time. The previous occurrences were followed by a sharp drop in the price. This may give forex traders an opportunity to go short on this pair.

EUR/USD Trading Near a 9-Month Low 16 Feb 2010

2010-02-16T00:12:00.000-08:00

Tuesday, 16 Feb 2010

EUR/USD Trading Near a 9-Month Low

This week began with a relatively quiet trading session; however this calmness is likely to end today. The German ZEW Economic Sentiment and the U.S. Long-Term Purchases reports look to create large volatility in the market today. In addition, the problematic Greek economy is likely to continue and affect the market today.

The Wild Card GBP/AUD 15 Feb 2010

2010-02-15T10:06:00.000-08:00

Monday, 15 Feb 2010

The Wild Card

GBP/AUD

A fresh bullish cross is evident on the 8 hour chart's Slow Stochastic, while the daily and 8 hour RSI are floating in the oversold territory. Forex traders may be advised to go long for today.

Greece Worries Continue to Impact Euro 15 Feb 2010

2010-02-15T06:55:00.000-08:00

Monday, 15 Feb 2010

Greece Worries Continue to Impact Euro

With a slow news day forecasted for today, the Euro continues to be weighed down by Greece's deficit worries. Further impacting the hard hit currency is the lack of a concrete plan from the European Central Bank to come to Greece's aid. This does not bode well for the Euro in trading today.

The Wild Card AUD/USD 12 Feb 2010

2010-02-12T01:38:00.000-08:00

Friday, 12 Feb 2010

The Wild Card

AUD/USD

A few months back this pair's long-term bullish channel was breached and the pair now appears to be forming a double-top (or "M") candlestick formation on the weekly chart. The weekly RSI shows the price cascading downward, highlighting plenty of downward momentum. The 4-hour RSI shows the pair in the over-bought territory, and the 4-hour Stochastic (slow) shows a fresh bearish cross. All suggesting that this pair is due for bearishness. Forex traders have a rare opportunity to spot this "M" formation at its second peak and ride out a tremendous wave for potentially large profits.

Dollar Gains from Greece Rescue Plan 12 Feb 2010

2010-02-12T00:20:00.000-08:00

Friday, 12 Feb 2010

Dollar Gains from Greece Rescue Plan

The U.S Dollar touched a 7-month high against the EUR Thursday after European leaders indicated they will support Greece, but not necessarily deliver direct aid. The greenback added to gains after the U.S. Labor Department said initial claims for unemployment benefits dropped 43,000 to 440,000 in the last week, a bigger decline than economists had estimated.

The Wild Card Crude Oil 11 Feb 2010

2010-02-11T01:53:00.000-08:00

Thursday, 11 Feb 2010

The Wild Card

Crude Oil

Short- and mid-term indicators on Crude Oil seem to be giving off bearish signals this morning. Both the hourly and 4-hour Stochastic (slow) appear to be showing a bearish cross. The RSI on both charts also appears to be floating in the over-bought territory. These indications may give forex traders a chance to capture a healthy dose of profits in today's early trading hours by going short on this commodity.

Euro Levels Out Against Major Rivals Ahead of EU Summit 11 Feb 2010

2010-02-11T00:28:00.000-08:00

Thursday, 11 Feb 2010

Euro Levels Out Against Major Rivals Ahead of EU Summit

The Euro made slight gains against its major counterparts in overnight trading today. Still, investors remain apprehensive about investing in the Euro, especially ahead of a key European Union meeting which could shed light on a possible bailout for Greece.

The Wild Card AUD/USD 10 Feb 2010

2010-02-10T01:15:00.000-08:00

Wednesday, 10 Feb 2010

The Wild Card

AUD/USD

The pair has recorded a bullish behavior yesterday. However, the technical data indicates that this trend may reverse anytime soon. For example, the 4- hour chart's Slow Stochastic shows signals that a bearish reversal is imminent. Forex traders have the opportunity to wait for the downward breach on the hourlies and go short in order to ride out the impending wave.

Market Awaits Bernanke's Testimony on Future Monetary Policy 10 Feb 2010

2010-02-10T01:14:00.000-08:00

Wednesday, 10 Feb 2010

Market Awaits Bernanke's Testimony on Future Monetary Policy

The Dollar continued to drop against the Euro yesterday, mainly due to speculations regarding a possible rescue plan for Greece. As a result, crude oil and precious metal rose as well. However, today at 15:00 GMT Fed Chairman Bernanke is expected to deliver a speech, on which he will most likely refer to the Fed's intentions regarding U.S. monetary policy. Harsh volatility is expected to take place during his speech, and traders are advised to be prepared.

The Wild Card USD/DKK 9 Feb 2010

2010-02-09T08:02:00.000-08:00

Tuesday, 9 Feb 2010

The Wild Card

USD/DKK

The daily chart's Slow Stochastic is exhibiting a bearish cross while the 8 hour and daily RSI are floating in the overbought territory indicating an imminent downward trend. Forex traders are advised to go short for the day.

Euro-Zone Debt Concerns Weigh Heavily on EUR 9 Feb 2010

2010-02-09T01:36:00.000-08:00

Tuesday, 9 Feb 2010

Euro-Zone Debt Concerns Weigh Heavily on EUR

Traders are expecting a slow news day, and as such may experience thin trading conditions and low liquidity. The few reports expected shouldn't cause too much of a stir, but with thin trading it may result in some decent price action. The EUR's uptick on Monday has many concerned that the 16-nation currency is now due for a downward correction, especially given the rapidly declining sentiment in the Euro-Zone caused by decisions made in Greece and Portugal concerning national debt and government spending, respectively.

The Wild Card Crude Oil 8 Feb 2010

2010-02-08T07:32:00.000-08:00

Monday, 8 Feb 2010

The Wild Card

Crude Oil

Crude oil prices are once again dropping, and it is currently traded around $71.40 per barrel. And now, the 4-hour chart's RSI is giving bullish signals, indicating that crude oil prices might go up. This might give forex traders a great opportunity to enter a very popular trend.

Dollar Rises to 8-month high on U.S. Non-Farms Report and European Worries 8 Feb 2010

2010-02-08T07:31:00.000-08:00

Monday, 8 Feb 2010

Dollar Rises to 8-month high on U.S. Non-Farms Report and European Worries

The dollar climbed to an eight month high versus the EUR on Friday after the release of the U.S. jobs report. Credit concerns in Europe are weighing on the market as traders have moved out of riskier currencies and into the safety of the dollar and yen.

The Wild Card Silver 5 Feb 2010

2010-02-05T02:56:00.000-08:00

Friday, 5 Feb 2010

The Wild Card

Silver

Silver has experienced a significant downward price move that has now broken a long term trend line that began in November 2008. The price breach also passed the significant support level of 16.22. Forex and commodity traders who are short on silver may want to set their next price target at the new support level of 16.40.

Market Volatility Expected to Continue Today as Non-Farm Payrolls Awaits 5 Feb 2010

2010-02-05T01:04:00.000-08:00

Friday, 5 Feb 2010

Market Volatility Expected to Continue Today as Non-Farm Payrolls Awaits

Following an intense trading session, on which gold dropped below $1,060 an ounce, crude oil declined to $72.40 a barrel and the EUR/USD fell to the 1.3670 level, another exciting trading day is expected before the weekend begins. The U.S Non-Farm Payrolls is scheduled today at 13:30 GMT, and as always promises to create extraordinary volatility in the market.

The Wild Card Gold 4 Feb 2010

2010-02-04T00:56:00.000-08:00

Thursday, 4 Feb 2010

The Wild Card

Gold

It seems as though a new bullish cross has formed on the 4-hour Stochastic (slow) for the price of Gold. This may indicate that an upward price movement is imminent. The daily MACD/OsMA also shows a bullish cross, supporting the notion that upward pressure exists on this commodity at the technical level. Forex traders don't want to miss out on a possible opportunity to make fast profits by jumping in on this predictable price movement in one of the world's most exciting and tradable commodities.

Dollar Gains Ahead of Non Farm Employment Data 4 Feb 2010

2010-02-04T00:24:00.000-08:00

Thursday, 4 Feb 2010

Dollar Gains Ahead of Non Farm Employment Data

The USD was higher against its major counterparts Wednesday, heading toward its highest levels versus the EUR since last summer, following the release of better than expected economic data from the U.S.

The Wild Card GBP/CHF 3 Feb 2010

2010-02-03T00:51:00.000-08:00

Wednesday, 3 Feb 2010

The Wild Card

GBP/CHF

The Relative Strength Index (RSI) on the 1-hour chart indicates that the pair is currently in overbought territory. This theory is supported by the Stochastic Slow, also on the 1-hour chart. Based on this information, forex traders may want to go short with tight stops today, as the pair may see a downward correction.

Aussie Central Bank Shocks the Forex Market 3 Feb 2010

2010-02-03T00:50:00.000-08:00

Wednesday, 3 Feb 2010

Aussie Central Bank Shocks the Forex Market

Australia surprised economists by holding interest rates steady after the market unanimously predicted an interest rate hike. Also a chain of positive news has helped spot crude oil prices jump over 5.5% during the past two days.

The Wild Card EUR/CHF 2 Feb 2010

2010-02-02T01:13:00.000-08:00

Tuesday, 2 Feb 2010

The Wild Card

EUR/CHF

It appears a bullish cross has recently formed on the hourly chart's Slow Stochastic, indicating that this pair's recent upward correction may still have some steam. Now would be a great time for forex traders to join this recent run and capture the remaining profits before the downward trend continues.

Dollar Anticipates Release of U.S. Pending Home Sales 2 Feb 2010

2010-02-02T01:12:00.000-08:00

Tuesday, 2 Feb 2010

Dollar Anticipates Release of U.S. Pending Home Sales

The U.S. Pending Home Sales is the primary publication today that is set to determine the level of the USD when it is released at 15:00 GMT. The other main releases that are set to dominate forex trading, especially for currencies such as the Dollar and EUR is the publication of the German Retail Sales and PPI from the Euro-Zone at 7:00GMT and 10:00 GMT respectively. Traders may find good opportunities to enter the market following these vital announcements.

The Wild Card USD/CAD 1 Feb 2010

2010-02-01T01:04:00.000-08:00

Monday, 1 Feb 2010

The Wild Card

USD/CAD

It seems that the bullish momentum prevails as the pair is heading up with plenty of room to run. All of the technical oscillators on the hourly and the daily charts are giving a bullish signals and this pair's target today might be the 1.0745 level. This gives forex traders a great opportunity to join the market at an excellent entry price.

US Inflationary Figures may Push USD Bearish 1 Feb 2010

2010-02-01T01:03:00.000-08:00

Monday, 1 Feb 2010

US Inflationary Figures may Push USD Bearish

The American economy is due to release a number of reports today which may have a moderately heavy impact on today's trading. The Personal Spending and Personal Income reports due at 13:30 GMT will carry a level of significance in today's market, but not nearly as much as the ISM Manufacturing PMI scheduled for 15:00 GMT. Forex traders won't want to miss out on these reports especially since many are forecasting a short-term downward correction for the USD in today's trading. These reports will either debunk or verify that notion.

The Wild Card Silver 29 Jan 2010

2010-01-28T23:13:00.000-08:00

Friday, 29 Jan 2010

The Wild Card

Silver

Silver prices are once again dropping and it is currently traded around $13.15 per ounce. And now, the daily chart's Slow Stochastic is giving bullish signals, indicating that silver prices might go up. This might give forex traders a great opportunity to enter a very popular trend.

EUR/USD Falls on European Fiscal Concerns 29 Jan 2010

2010-01-28T23:12:00.000-08:00

Friday, 29 Jan 2010

EUR/USD Falls on European Fiscal Concerns

The U.S. dollar rose on Thursday to a 6-month high against the EUR as investors around the globe signaled approval of the Federal Reserve's more upbeat outlook for the U.S. economy. The U.S. currency continues to rally on persistent concerns over the fiscal health in some smaller Euro-Zone countries such as Greece and Portugal.

The Wild Card GBP/CHF 28 Jan 2010

2010-01-28T00:07:00.000-08:00

Thursday, 28 Jan 2010

The Wild Card

GBP/CHF

The pair may be seeing some downward correction today. A breach of the upper Bollinger Band is evident on the 2 hour chart, while a bearish cross is evident on the 4 hour and 8 hour charts' Slow Stochastic. The two hour, 8 hour and daily RSI are floating in the overbought territory, supporting the notion of a correction. Forex traders are advised to go short for the day.

USD Gains on Interest Rate Hike Speculations 28 Jan 2010

2010-01-28T00:06:00.000-08:00

Thursday, 28 Jan 2010

USD Gains on Interest Rate Hike Speculations

Following signals from the U.S. Federal Reserve that American interest rates may be increased sooner then expected, the U.S. Dollar got a significant boost in trading last night and in the early morning today. Today, a full set of Dollar related news events will likely determine the direction the greenback goes for the rest of the week.

The Wild Card Silver 27 Jan 2010

2010-01-27T02:08:00.000-08:00

Wednesday, 27 Jan 2010

The Wild Card

Silver

Silver prices are once again dropping, and it is currently traded around $16.90 an ounce. And now, the daily chart's Slow Stochastic is giving bullish signals, indicating that silver prices might go up. This might give forex traders a great opportunity to enter a very popular trend.

Federal Funds Rate Leading Event in Today's Market 27 Jan 2010

2010-01-27T02:06:00.000-08:00

Wednesday, 27 Jan 2010

Federal Funds Rate Leading Event in Today's Market

The most important event of the trading day is likely going to be the Federal Open Market Committee's (FOMC) Federal Funds Rate statement at 19:15 GMT. With Fed Chairman Ben Bernanke's recent re-confirmation there is an opportunity for him to return some market optimism with a renewed mission statement with this rate statement. Hawkish statements may give a boost to the USD in the minutes after the release, and traders should pay especially close attention to any indication for a time-table regarding future rate hikes.

The Wild Card USD/NOK 26 Jan 2010

2010-01-26T00:01:00.000-08:00

Tuesday, 26 Jan 2010

The Wild Card

USD/NOK

The pair may see a downward correction today as the 8 hour and daily RSI are floating in the overbought territory and a fresh bearish cross is evident on the hourly and daily charts' Slow Stochastic. There is also a breach of the upper Bollinger Band seen on the hourly, 2 hour and 4 hour charts. Forex traders are advised to go short for today.

Forex News Expected to be Dollar Positive Today 26 Jan 2010

2010-01-26T00:00:00.000-08:00

Tuesday, 26 Jan 2010

Forex News Expected to be Dollar Positive Today

The Dollar experienced mix trading yesterday, climbing against the Yen but falling against the EUR with traders anticipating both Japanese and U.S. interest rate decisions and a bloc of economic data. The economic releases to come may be a positive for the USD.

The Wild Card NZD/USD 25 Jan 2010

2010-01-25T00:06:00.000-08:00

Monday, 25 Jan 2010

The Wild Card

NZD/USD

The pair's 8 hour and daily RSI are floating in the oversold territory with the daily charts Slow stochastic exhibiting a bullish cross. Furthermore, a bullish cross is evident on the 4 hour MACD. Forex traders are advised to go long for the day.

Interest Rates Announcements from Japan and the U.S. Expected this Week 25 Jan 2010

2010-01-25T00:05:00.000-08:00

Monday, 25 Jan 2010

Interest Rates Announcements from Japan and the U.S. Expected this Week

The Dollar and the Yen, the two strongest currencies of last week's trading session, are likely to be shaken this week, as interest rates announcement from both the U.S. and Japan are expected. Any manipulation of rates by any of the two is likely to have a massive impact on the market. This could provide unique opportunities for high profits, and traders should use this extraordinary week in order to boost profits.

The Wild Card Oil 22 Jan 2010

2010-01-22T01:03:00.000-08:00

Friday, 22 Jan 2010

The Wild Card

Oil

Oil prices are once again dropping, and are currently being traded around $76.10 per barrel. However, the daily chart's RSI is floating in an oversold territory suggesting that a recent downwards trend is loosing steam and a bullish correction is impending. This might be a good opportunity for forex traders to enter the trend at a very early stage.

Crude at 1-Month Low on U.S. Demand Concerns 22 Jan 2010

2010-01-22T01:02:00.000-08:00

Friday, 22 Jan 2010

Crude at 1-Month Low on U.S. Demand Concerns

Crude Oil fell for a second straight session Thursday and ended 2% lower, to trade near $76 a barrel despite a drop in U.S. crude supplies as concerns over Chinese growth dampened appetite for riskier currencies and commodities.

The Wild Card GBP/CHF 21 Jan 2010

2010-01-21T00:17:00.000-08:00

Thursday, 21 Jan 2010

The Wild Card

GBP/CHF

GBP/CHF sustained upward movement has finally pushed its price into the over-bought territory on the daily chart's RSI. Not only that, but there actually appears to be a bearish cross on the Slow Stochastic pointing to an imminent downward correction. Forex traders have the opportunity to wait for the downward breach on the hourlies and go short in order to ride out the impending wave.

USD and JPY Continue to Rise as Stocks Decline Thursday, 21 Jan 2010

2010-01-21T00:16:00.000-08:00

Thursday, 21 Jan 2010

USD and JPY Continue to Rise as Stocks Decline

American and European stocks traded lower this week due to risk aversion among traders, and this has helped support the Dollar's resurgence. With a EUR-heavy news day ahead of us, the USD may take a back-seat during the morning hours. A slew of positive releases from the Euro-Zone could allow us to see a rebound in a few of the major pairs. On the other hand, if Europe's data falls short of expectations, traders should anticipate a continuation of the bullish run in the USD.

The Wild Card GBP/NZD 20 Jan 2010

2010-01-20T00:20:00.000-08:00

Wednesday, 20 Jan 2010

The Wild Card

GBP/NZD

A breach of the upper Bollinger Band is evident on the 2 hour and 4 hour charts while the RSI is floating in the oversold territory on the hourly chart. Furthermore, a bearish cross is evident is evident on the 2 hour and daily charts. Forex traders are advised to go short for the day to take advantage of the impending correction.

Dollar Rises Broadly vs. Majors 20 Jan 2010

2010-01-20T00:19:00.000-08:00

Wednesday, 20 Jan 2010

Dollar Rises Broadly vs. Majors

The U.S. Dollar firmed against most major counterparts, with the gains especially strong against the EUR, amid continued worry about Greek debt and further signs that Germany's economic recovery may be losing momentum.

The Wild Card GBP/NZD 19 Jan 2010

2010-01-19T01:02:00.000-08:00

Tuesday, 19 Jan 2010

The Wild Card

GBP/NZD

The pair's recent bullish run may see some correction today as the hourly and 8 hour RSI are floating in the overbought territory and the daily, 2 hour and hourly charts' Slow Stochastic are exhibiting bearish crosses. Forex traders may be advised to go short for today.

GBP Still Gaining Against Majors 19 Jan 2010

2010-01-19T01:01:00.000-08:00

Tuesday, 19 Jan 2010

GBP Still Gaining Against Majors

Following a report that U.S. based Kraft Foods Inc. may be merging with British incorporated Cadbury, the Pound saw major gains across the market spectrum. The Euro dropped to a four month low against Sterling, while GBP rose to its highest level in more then a month against the greenback.

The Wild Card GBP/NZD 18 Jan 2010

2010-01-18T01:19:00.000-08:00

Monday, 18 Jan 2010

The Wild Card

GBP/NZD

The pair's hourly, 4 hour and 8 hour RSI are floating near the overbought territory while a bearish cross is evident on the daily and 8 hour charts' Slow Stochastic. Furthermore, an impending bearish cross is evident on the hourly and 2 hour MACD. Forex traders are advised to go short for the day.

Dollar Bearishness Halts, Is a Bullish Reversal Impending? 18 Jan 2010

2010-01-18T01:17:00.000-08:00

Monday, 18 Jan 2010

Dollar Bearishness Halts, Is a Bullish Reversal Impending?

After consistently dropping last week, the Dollar's downtrend appears to be halted. The Dollar is currently rising against the Euro, and considering Crude Oil's surprising drop, it seems that the Dollar has the potential to rise further. However, as a week packed with economic publications from the U.S. begins, it seems that the direction of the Dollar will be determined by the results of this data.

The Wild Card Oil 15 Jan 2010

2010-01-15T00:30:00.000-08:00

Friday, 15 Jan 2010

The Wild Card

Oil

The price of crude oil has broken its most recent bullish trend line on the daily chart and has dropped below the 10-day moving average. This could signal an end to the bullish run. The price has also crossed the middle line of the Bollinger Band, signaling the potential for the price to fall to its lower limit. Forex and commodity traders may also notice the bearish cross and the downward sloping histogram on the MACD. This may give traders the reason to short crude oil.

Dollar Remains Low Amid Poor U.S. Economic News 15 Jan 2010

2010-01-15T00:29:00.000-08:00

Friday, 15 Jan 2010

Dollar Remains Low Amid Poor U.S. Economic News

The Dollar fell broadly on Thursday amid negative news reports that all but dashed hopes of an interest rate hike in the near future. Today, investors will be looking at two reports that could impact USD. The Core CPI report as well as a consumer sentiment report could give the Dollar a much needed boost in afternoon trading.

The Wild Card AUD/NZD 14 Jan 2010

2010-01-14T01:05:00.000-08:00

Thursday, 14 Jan 2010

The Wild Card

AUD/NZD

The hourly and 2 hour RSI are floating in the overbought territory with the hourly, 2 hour and 4 hour chart's Slow Stochastic are exhibiting a bearish cross. Furthermore, there is a breach of the upper Bollinger Band on the 2 hour chart. Forex traders are advised to go short for the day.

Dollar Stays Lower before U.S Retail Data 14 Jan 2010

2010-01-14T01:04:00.000-08:00

Thursday, 14 Jan 2010

Dollar Stays Lower before U.S Retail Data

The U.S Dollar remained lower against most major rivals on Thursday after the Federal Reserve's report on regional economic conditions said conditions were improving modestly. Traders said the focus was now turning to the U.S. reports on retail sales and weekly jobless claims for December, both due later in the session.

2010-01-13T01:29:00.000-08:00

Wednesday, 13 Jan 2010

The Wild Card

Gold

The price of Gold appears to be giving off moderately strong buy signals today. In the short-term, the hourly RSI shows this commodity being highly over-sold, suggesting upward pressure. On the 4-hour chart, the Slow Stochastic seems to have created a fresh bullish cross, and the RSI also floats in the over-sold territory. Today may be a good day for forex traders to branch over to commodities and take advantage of a short upswing in Gold prices.

Yen Strengthens on Chinese Bank Regulation 13 Jan 2010

2010-01-13T01:28:00.000-08:00

Wednesday, 13 Jan 2010

Yen Strengthens on Chinese Bank Regulation

The US Dollar was little changed against the EUR but fell significantly against the yen during Tuesday's trading session after the People's Bank of China increased the amount of reserves Chinese banks must hold in order to slow the growth of credit.

The Wild Card Platinum 12 Jan 2010

2010-01-12T01:01:00.000-08:00

Tuesday, 12 Jan 2010

The Wild Card

Platinum

The Slow Stochastic on the 4 hour chart points towards a current bullish momentum. The daily Slow Stochastic strongly supports this notion. This might be a great opportunity for forex traders to join a very promising bullish trend.

USD Declines on Renewed Confidence regarding the Global Economic Recovery

2010-01-12T01:00:00.000-08:00

Tuesday, 12 Jan 2010

USD Declines on Renewed Confidence regarding the Global Economic Recovery

The U.S Dollar declined against major counterparts Monday as risk appetite returned on renewed confidence about an impending global economic recovery. The renewed optimism fueled demand for the EUR as well as currencies from commodities-rich countries such as the AUD and NZD.

The Wild Card Oil Monday, 11 Jan 2010

2010-01-11T00:47:00.000-08:00

Monday, 11 Jan 2010

The Wild Card

Oil

Being long on Spot Crude Oil has been one of the best trades as of recently but the bullish trend shows few signs of slowing. The 10-day Momentum indicator on the weekly chart continues to float above the 100 level, signaling the bullish trend may have some room to grow. However, the histogram on the MaCD/OsMA indicator on the daily chart is downward sloping. This tells commodity and forex traders the uptrend could continue, but the trend may begin to weaken.

Dollar Tumbles Following Negative Non-Farm Payrolls Data Monday, 11 Jan 2010

2010-01-11T00:46:00.000-08:00

Monday, 11 Jan 2010

Dollar Tumbles Following Negative Non-Farm Payrolls Data

After a relatively peaceful trading week, the shock took place on Friday. Very disappointing U.S. Non-Farm Employment Change data has created mayhem in the market, and took the EUR/USD pair above the 1.4500 level. The main question for this week is whether the Dollar will continue to weaken? Cam the EUR/USD reach the 1.4600 level once again?

The Wild Card Crude oil 8 Jan 2010

2010-01-08T00:57:00.000-08:00

Friday, 8 Jan 2010

The Wild Card

Crude oil

Oil prices rose significantly in the last two weeks and peaked at $82.30 per barrel. However, daily charts' RSI is floating in an overbought territory suggesting that a recent upwards trend is loosing steam and a bearish correction is impending. This might be a good opportunity for forex traders to enter the trend at a very early stage.

Non-Farm Employment Change to Invigorate Today's Market 8 Jan 2010

2010-01-08T00:55:00.000-08:00

Friday, 8 Jan 2010

Non-Farm Employment Change to Invigorate Today's Market

On tap today is the ever-important US Non-Farm Employment Change (NFP) report due at 13:30 GMT. This is one of the most important economic events on the calendar and is always released on the first Friday of a new month. Should the NFP report provide positive results, there is a good chance the USD may indeed go bullish and break through a number of significant barriers.

The Wild Card Platinum 7 Jan 2010

2010-01-07T01:46:00.000-08:00

Thursday, 7 Jan 2010

The Wild Card

Platinum

The violent bullish surge continues with all oscillators showing the continuation of the trend. Fresh all time highs are being breached on a daily basis and Platinum is now floating at 1564.55. The RSI is showing that the bullish momentum is still quite bullish. Forex traders have a great chance of enjoying the additional momentum still left for the commodity.