August 18, 2011 Forex Signals Report

The S&P 500 plummeted over the day losing a massive 4.5 percent as Global Growth Concerns continue to wreak havoc on equity markets around the Globe. The Dow closed down more than 480 points, again dropping with investor concerns. In what proved to be a volatile day there was a of fundamental shift away from riskier assets as investors moved back into safe-haven holding with Gold rallying 2.1 percent and the USD strengthening against 15 of its 16 major counterparties. In a string of poor economic readings released overnight Existing Home Sales, Unemployment Claims as well the Philly Fed Manufacturing Index all came in below expectation, compounding the problems of the Global growth story. Meanwhile this morning the EURO opens a full cent lower against its US Counterpart at a rate of 1.4328 having traded as low as at 1.4270 in overnight trade.  With a massive exodus away from equity markets and heightened concerns surrounding the competency of policy makers, the EURO remains susceptible to further downside in the coming months as weakened confidence has also lead Morgan Stanley to cuts its Global Growth Forecast from 4.2 to 3.9 percent in report released overnight.

Now, on to our open positions and new trades. Lets take a look at the specifics:

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