EUR

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NEW YORK (TheStreet) -- The euro-dollar currency pair (EUR-USD) collapsed from the 1.4157 level in early October, beginning a period of corrective weakness that is now in its third week.
Yet the euro-dollar continues to maintain its medium-term bullish tone that was established from the 1.1875 level, its 2010 low, which it hit in early June.
Looking back, the pair saw a stretch of weakness from its 2009 high at 1.5143 to 1.1875. Then a rally ensued, pushing the pair to the aforementioned 1.4157 level in early October.
If you look at the weekly chart very carefully, you will notice that the pair just finished a second leg of upside gains and is now consolidating its uptrend.
The first leg of that uptrend started from the 1.1875 level and ended at 1.3332 in early August and was followed by a correction. The second one started from the 1.2586 level on Aug. 24 and ended at the 1.4157 level.
The current price action suggests that the pair is merely taking a breather from its medium-term rally and will resume that rally, targeting the 1.4413 level and possibly taking a stab at 1.5143.
In sum, we are bullish on euro vs. the dollar over the next one to three months.

NFA orders $459,000 monetary sanction against New Jersey forex firm Gain Capital Group LLC
October 28, Chicago - National Futures Association (NFA) has ordered Gain Capital Group LLC (Gain), a forex dealer member located in Bedminster, New Jersey, to pay a $459,000 fine as a result of an NFA Complaint issued and a settlement offer submitted by Gain and its chief executive officer, Glenn H. Stevens.
NFAs Business Conduct Committee alleged that Gain engaged in abusive margin, liquidation and price slippage practices that benefited Gain to the detriment of its customers. The Committee also alleged that Gain failed to maintain records for certain unfilled orders, failed to adequately review the activities and promotional material of the firms unregistered solicitors, and failed to supervise the firms operations.
In addition to the fine amount, Gain must also provide appropriate refunds to its customers as a result of these detrimental margin, liquidation and asymmetrical slippage practices.
Gain and Stevens neither admitted nor denied the charges. The complete text of the Complaint and Decision are available on NFAs website (www.nfa.futures.org).
NFA is the premier independent provider of innovative and efficient regulatory programs that safeguard the integrity of the futures markets.