The Banks Are Being Paid To Borrow

With all the talk about the Fed possibly raising interest rates in 2010, it’s important to remember that overall Fed policy will remain expansionary for several more years at least.

GBPUSD Daily Forecast: December 17

Although this fact lead us into no trading area in nearest term, I still prefer a bearish scenario and it is clearly too early for a bullish reversal scenario.

Daily Forecast for Crosses: December 17

However, as you can see on h4 chart below, price still move above the trendline support (blue) indicating the pressure is still more to the upside with 131.75

USDCHF Daily Forecast: December 17

Of course, the situation is different now since this time price has violated the major trendline resistance (red) to the upside so the upside pressure should be stronger this time.

GBPUSD Daily Forecast: December 16

The GBPUSD didn’t make significant movement yesterday, still trapped in triangle area as you can see in my h4 chart below indicating consolidation.

USDJPY Daily Forecast: December 16

The USDJPY had a significant technical move yesterday by slipped above the trendline resistance (yellow). This fact indicating the pressure is more to the upside now testing 90.70 area.

USDCHF Daily Forecast: December 16

The USDCHF continued its bullish momentum after corrected lower on Monday, topped at 1.0428 and closed at 1.0403. For me, my first bullish target at this phase around 1.0450

Pricing In Ahead Of The News

A string of stronger-than-expected economic reports provoked several analysts to revise up their projections for fourth quarter gross domestic product.

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