Support Targets for the USD/CAD Intraday Downtrend

The surprise EIA release of a larger-than-expected drawdown in crude supplies helped crude oil futures regain most of the early morning’s early losses. I feel this is particularly important for traders of the USD/CAD whereby the price of crude can influence the strength or weakness of the loonie (the Canadian Dollar) significantly. The crude oil recovery allowed the loonie to strengthen. Since the overall direction on the daily time frame is in a distribution market cycle, the price action is trading within a wide and volatile range. I believe this makes the intraday set ups a better choice to manage the shorter up and downtrend in the pair.

The direction on the 60-minute time frame of the USD/CAD has been predominantly down until the recent consolidation between 1.0341 and 1.0304. The pair became “sandwiched” intraday between the “00” and “50” major psychological levels. This caused t

Read more…

The Japanese Currency Increased in Value on Wednesday

The Japanese currency increased in value on Wednesday with investors citing yen purchaing by Japanese investors and exporters, while the Canadian dollar maintained its gains scored on news of a huge takeover bid by global miner BHP Billiton for Canada’s Potash Corp.

The JPY dipped versus the dollar and the EUR in early Asian trading, staying on the defensive after retreating the previous day as U.S. and European shares increased and U.S.

Read more…

I cannot login to the trading platform.

The most common mistake made while trying to login to an account is selecting an incorrect server.
The has 6 choices for live accounts and 2 choices for demo accounts.

You can verify your server choice on the login screen. To see the login screen go to FILE, then to LOGIN.  The third field on the login screen is where the server is entered; make sure you have chosen the correct server.  If you are not sure which server to chose, we are happy to help, just .

The second most common reason for not being able to login to your account is using an incorrect password.   It is important to note the password for your trading account is NOT the same as the password you created for your My Interbank FX online account.

For .

**Trading in the off-exchange retail foreign currency market is one of the riskiest forms of investment available. Our

Read more…

Wider Greek Bond Spread Potential Red Flag for Euro Bulls

Wednesday’s session of trade showed the USD regaining some of its bid tone against the Euro, albeit only marginally, and in the end, broader price action was quite uneventful, with the markets still content on some consolidation ahead of the next move.

The lack of any real economic data out of the US did not help volatility’s cause and we also managed to see US equities close relatively unchanged on the day.

The Aussie and Euro were some of the key underperformers on Tuesday, with both currencies coming under pressure for different reasons. The Australian Dollar was notably weaker on the back of some softer data, fears over a cooling in China, a more reserved RBA, and most recently some M&A related selling. Meanwhile, analysts sourced the weakness in the Euro to wider Greek bond spreads which failed to narrow over the past few days along with Irish spreads. Thi

Read more…

Dollar Forges a Four-Week High to End the Week but Follow Through Up to Risk Trends Next Week

Given the extremely light economic docket and the temperate level of speculative trends heading into the final hours of the trading week, we wouldn’t expect there to be much activity before liquidity officially drains for the weekend. Yet, the dollar and the capital markets in general would in fact put in for a shocking bout of volatility.

• Dollar Forges a Four-Week High to End the Week but Follow Through Up to Risk Trends Next Week
• Euro Fundamental Strength Could be Undermined Should Data Show Growth to Temper
• British Pound Traders Fixated on Growth, Interest Rates, Deficits and 1.55 on GBPUSD
• Canadian Dollar Tumbles after Core Inflation Curbs Interest Rate Expectations
• Japanese Yen Focuses on Data Next Week but BoJ Still Presents Top Risk
• Australian Dollar to See Data Heat Up Before the Release of 2Q GDP Report

Dollar Forges a Four-Week High to End the Week but Follow Through Up to Risk Trends Next Week

Given the extremely light economic docket and the temperate levesl of speculative trends heading into the final hours of the trading week, we wouldn’t expect there to be much activity before liquidity officially drains for the weekend. Yet

Read more…

US Dollar Diversification Even Apparent in Safe Haven Enviornment

The recovery in the currency markets was certainly not to be unexpected on Monday following a bout of significant USD buying in the previous week.

We had warned of the strong possibility for some form of initial USD selling, with the markets needing to consolidate the latest moves before considering the next up-leg in favor of the Greenback. Whether or not this USD selling persists through Tuesday trade is still very much in question, however, we would not expect the USD selling to last much longer, with weekly technical signals warning of a major USD bottom and fundamentals also aligning on the back of an escalation in risk aversion and uncertainty over the outlook for the global economy. Markets have once again been reacting less to any specific data and more to the pressing concerns over sound economic recovery and stability within the major global economies.

Read more…