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Although yesterday’s price action in the Euro was quite bearish, with the market unable to hold onto gains towards 1.3200 and sharply reversing course to close lower on the day back in the mid-1.3000’s, we would not give the developments too much consideration in the current market environment. All of the major players have abandoned [...]
EUR/USD: The market has finally taken out the key October lows at 1.3145 to confirm a lower top by 1.3550 and open the next downside extension towards the 2011 lows from January at 1.2870. Daily studies are however looking a little stretched and at this point we could see some corrective action before the market resumes [...]
USD/JPY:The market has managed to successfully hold above the bottom of the daily Ichimoku cloud to further strengthen our constructive outlook and we look for the formation of a inter-day higher low by 76.55 ahead of the next major upside extension back towards and eventually through the recent multi-day highs by 79.55. Ultimately, only a [...]
GBP/USD:Rallies have been very well capped ahead of 1.5800 and it looks as though a lower top has now been carved out by 1.5780 ahead of the next major downside extension back towards the October lows at 1.5270. Key support comes in by 1.5400 and a daily close below this level will be required to [...]
The Dow Jones FXCM Dollar Index (ticker: USDOLLAR) saw its largest single-week loss since early 2009, sold off sharply as the S&P 500 finished its biggest monthly advance in nearly 25 years. Traders aggressively shed US Dollar-long positions against the Euro and other major counterparts following the announcement of aggressive new aid for Greece and other [...]
Yesterday saw a relief rally in EURUSD following news out of Europe. Hindsight is always easy and finding the turning or stopping point in any market on days like that is a hard task. The price shot through the 50 percent Fib level of the May highs and October lows and and stopped on the preferred [...]
Investors and traders around the world are looking to the Forex market as a new speculation opportunity. But, how are transactions conducted in the Forex market? Or, what are the basics of Forex Trading? Before adventuring in the Forex market we need to make sure we understand the basics, otherwise we will find ourselves lost [...]
European inflation accelerated to the fastest pace in two and a half years and confidence in the economic outlook declined as surging energy prices threatened to undermine growth. Inflation in the 17-nation euro region quickened to 2.8 percent in April from 2.7 percent, the European Union’s statistics office in Luxembourg said today in an initial [...]
The U.S. Department of Agriculture will release its long awaited report today about U.S. farmers’ planting intentions for the 2011/12 crop season. Given the current tightness in supply, in especially corn and soybeans, this report could set the tone for price developments over the next couple of months until weather becomes the sole focus ahead [...]
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 [...]