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USD/JPY Weekly Outlook USD/JPY broke intervention low of 82.86 to resume recent down trend and reached as low as 81.71 so far. Initial bias remains on the downside this week with 82.55 minor resistance intact. Current fall should now target 61.8% projection of 92.87 to 82.86 from 85.92 at 79.73, which is close to 79.75 [...]
EUR/USD Weekly Outlook EUR/USD soared to as high as 1.4028, just inch below mentioned target of 100% projection of 1.1875 to 1.3330 from 1.2587 at 1.4042. A temporary top is in place and initial bias is neutral for some consolidations first this week. But downside is expected to be contained by 1.3636 support and bring [...]
The U.S. dollar fell against most of the major currencies during yesterday’s trading session. The dollar’s most notable depreciation took place versus the Japanese yen. As a result the USD/JPY pair is now trading at the 82.30 level, near a 15 year low. The dollar continued its bearish trend against the major currencies today due [...]
In countries where the currency is pegged, the range in which the rates are permitted to fluctuate. Source:forexglossary.com
The office location, or department, where the processing of financial transactions takes place. Source:forexglossary.com
The income or cost associated with keeping a foreign exchange position overnight. This is derived when the currency pairs in the position have different interest rates for the same period of time. Source:forexglossary.com
A chart that displays the daily trading price range (open, high, low and close). A form of Japanese charting that has become popular in the West. A narrow line (shadow) shows the day’s price range. A wider body marks the area between the open and the close. If the close is above the open, the [...]