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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 [...]
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 [...]
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 [...]
The USD followed through on its smart little technical reversal yesterday with follow-up strength today, but will the currency follow through to the strong side here, or is this simply another modest consolidation that will fade to yield further gains for the greenback like all previous attempts by the currency to make a stand? UK [...]
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 yesterday’s trading, the USD/NOK cross experienced much bearishness, as it now stands at 5.6840. However, it seems that this trend may be coming to an end. I will illustrate below that the USD/NOK may very well be heading for a reversal. Forex traders have the opportunity to wait for the upward breach on the [...]
The U.S. Unemployment Claims Report will set the pace of the USD today. Despite the Dollar diving against the GBP so far today, in the coming hours there is some mouthwatering data that is set to be released from the U.S. Britain kept her rates unchanged earlier today, as the Bank of England (BoE) revealed [...]
USD/JPY sustained upward movement has finally pushed its price into the over-bought territory on the hourly chart’s RSI. Not only that, but there actually appears to be a bearish cross on the Slow Stochastic pointing to an imminent downward correction. Forex traders have the opportunity to wait for the downward breach on the hourlies and [...]
European’s currency rose against a broadly weaker U.S. dollar yesterday after the Group of 20 promised to keep stimulus policies in place until the global economic recovery was assured. The EUR is trading about 1% higher against the U.S. dollar amid general risk appetite for high-yielding assets on Tuesday. The European currency’s strength was in [...]
The U.S dollar advanced against 10 of its 16 most-traded counterparts after Federal Reserve Chairman Bernanke said yesterday central bank policy will ensure that the dollar remains strong. The greenback managed a brief rally off Monday’s lows after Federal Reserve Chairman Ben Bernanke said the U.S. central bank is attentive to changes in the currency. [...]