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Daily Forex Overview
2008-04-22 14:50:00 Previous session overviewOn Monday, the euro took a stab at $1.60 as a dollar rally that began last week came to a halt on weak earnings from Bank of America. The euro reached as high as $1.5948, just off its all-time high of $1.5985. A euro climb to the symbolic $1.60 level could set off even more dollar selling.Some European Central Bank officials Monday suggested interest rates may have to be increased if inflation becomes more of a problem in the euro zone. That gave the euro a big lift during the European session Monday. EURUSD traded at a high of 1.5948 and a low of 1.5793 before closing at 1.5927 in New York.Sterling rose versus the US dollar for the second day due to short covering. Many investors have been shorting the pound on the back of a weakening UK economy but news that the UK authorities are planning to support the mortgage market next week have caused them to change their sentiment. GBPUSD traded at a high of 2.0026 and a low of 1.9778, before closing at 1.9812 in N... More About: Daily , Forex , Overview
Key Bank of Canada decision on tap today. GBP roller coaster ride continues
2008-04-22 14:45:00 USDJPY playing cat and mouse with the 55-day moving average as the market seems at a loss for ideas. MAJOR HEADLINES ? PREVIOUS SESSIONCanada International Securities Transactions out at +C$3.8B vs. C$1.5B expected. ECB's Trichet says the financial market crisis is "not over"THEMES TO WATCH ? UPCOMING SESSIONKey Risk Events (All times in GMT) Switzerland Mar. Trade Balance (0615) UK BOE's Besley to speak (1100) Canada BOC to announce rates (1300) US Mar. Existing Home Sales (1400) US Apr. Richmond Fed Index (1400) US ABC Weekly Consumer Confidence (2100) Japan Mar. Merchandise Trade Balance (2350) Australia Q1 Consumer Prices (0130)Market CommentsThe market still seems to be scratching about for ideas as yesterday saw continued unwinding of Friday's moves to risk willingness. It seems that the best way to trade this market is to wait for it to get excited about something and then fade the move as themes don't seem capable of following through and becoming real trends. Liquidity ... More About: Ride , Today , Decision , Bank
Forex broker strategy - Pseudo-brokerage
2008-04-20 04:44:00 This broker strategy consists in that all client transactions are blocked through foreign brokers with the certain time log. Briefly the essence of this technology can be formulated as follows. After the opening any client's position does not go at once to the client as profit. At "pseudo-brokerage" any position has moments during which client is incured losses, accordingly, dealing center has some profit on this position (provided that this position is not blocked at the foreign broker).Dealer's action at use of such technology looks as follows. The client requests the quotation of the dealer, the dealer forms independently such quotation and gives it to its client. The client opens a position under this quotation. The dealer registers parameters of the open position and starts to wait for the moment when it starts to yield the loss to the client.When the dealer will find, that the size of the client's loss is sufficient, he blocks a client position at the foreign broker, fixing... More About: Articles , Strategy , Forex , Brokerage , Broker
Why is Forex Trading So Difficult?
2008-04-20 03:03:00 I'm sure that you have seen websites offering some easy trading method to earn you money. As sure as they exist, it is equally certain that they don't work. Of course they will work to a limit, but you will see that your account does not increase in money. Why is that?The reason is that the forex trading can be considered to be a zero sum game. A zero sum game is one where you are competing directly with other people. Trading is not like a computer game where the company structures it in such a way so that there is a reasonable chance that you can win if you try hard enough. Rather it is more like chess where you are looking into the eyes of the person who is trying to destroy you! When you lose money, this is because someone else is taking your money. As a result, easy trading methods offered online cannot work, because if it was that easy, someone else would beat you to the money.As a result, anyone planning to make money from trading needs to realize that it requires a lot of h... More About: Articles , Forex , Forex Trading
Currency Majors Technical Analysis
2008-04-16 12:08:00 European SessionEUR/USD - Euro Dollar1,5795. EUR USD is in a range between 1,5675 and 1,5900. EUR USD moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility is low. Oscillators are neutral. The price should continue to move in 1,5675 / 1,5900 range. We won't take a position. The risk/reward ratio is too high to take a position.. Resistances1,5810 - 1,5900Supports1,5760 - 1,5675more information on EUR/USD - Euro Dollar Click HereGBP/USD - British Pound Dollar1,9621. GBP USD is in a consolidation after the last bearish movement. The volatility decreases. Bollinger bands are tightened. ForexTrend 1H, 4H (Mataf Trend Indicator) is in a bearish configuration. 4H ForexSto (Modified Stochastic) indicate a bearish pressure on GBP USD. The price should find a support above 1,9600. If the support is broken then the target will be 1,9400.=> We could take a short position at 1,9620. We will put the stop loss above 1,9665 (-45 pips). The targets are 1... More About: Technical , Analysis , Currency , Technical Analysis , Majors
Cross Rates
2008-04-16 12:07:00 (GBP/JPY)The Pound managed to incline back against the Yen as investors were encouraged into indulging carry trades, on intraday basis the pair is expected to undergo an upside wave that might take it up to the first target at 201.30s if the pair managed to breach the resistance at 200.90s, while the point at 199.29 offers good demand for the pair and if that level was breach the 198.86 offers strong demand for the pair.Support199.29 198.86 198.48 197.94 197.38 Resistance200.00 200.43 200.99 201.67 202.17 Recommendation... (EUR/JPY)The Euro also managed to incline against the Yen yesterday and continued the bullish wave today, the short term momentum indicators are pointing for further upside move that might take the pair up to the 161.40s and if that level was successfully breached the target is set at the 164 levels, while the point at 159.98 offers strong demand for the pair.Support160.77 160.40 159.98 159.57 159.12 Resistance161.16 161.51 161.90 162.27 162.69 Recommendation... ... More About: Cross , Rates
Major Currencies
2008-04-16 12:06:00 EUROThe European currency yesterday moved in the upside direction to hit the major resistance level at 1.5870s, before managing to move in the downside trend reaching the levels of 1.5750s. The technical indicators showed some bearish signals for the euro today. The trading range for today might be between the key resistance level at 1.5930 and the key support level at 1.5570The general trend is up as far as 1. 4260 remains intact targets now at 1.6080 and 1.6360Support1.5775 1.5750 1.5720 1.5700 1.5680 Resistance1.5825 1.5845 1.5862 1.5880 1.5927 Recommendation... GBPThe British pound yesterday went in the downside direction after it formed significant reversal points to hit the key support level at 1.9600s. The technical indicators showed the downside potential for the pound today. The trading range for today might be between the key resistance level at 1.9830 and the key support level at 1.9500. The general trend is down as far as 2.0200 remains intact targets now at 1.9230 and ... More About: Currencies , Major
EURUSD daily outlook - Wednesday
2008-04-16 12:04:00 EURUSDThe dollar recovered on yesterday and the Euro has failed to hold above the 1.5800 support level, testing support into the mid 1.57 zone. Although the Euro has recovered and it is now trading around 1.5830, the short term sentiment is slightly mixed as we've seen on yesterday that there's still enough room on the downside. Medium term's sentiment remains bullish and a break higher past 1.59 seem highly possible while the Euro keeps consolidating into the 1.58 area after quickly recovering from the bearish tests into the 1.57 or 1.56 zones. The dips are bought fast so we maintain our bullish view while 1.5720 (current key support) remains intact. Good resistance is noticed now into the 1.5860 zone formed by the downward trendline started at 1.5913 extended through next daily highs. A break here may extend the gains towards 1.5915 and above. Else, if it holds then it may drag the Euro all the way down into the 1.5720-30 zone where key barrier is formed by trendline support. K... More About: Daily , Outlook , Wednesday
Consumer Price Index
2008-04-16 12:02:00 Previous: 0.0%Forecast: 0.3%DefinitionCONSUMER PRICE INDEX: An index of prices of goods and services typically purchased by urban consumers. The Consumer Price Index , commonly known by its abbreviation, CPI, is compiled and published monthly by the Bureau of Labor Statistics (BLS), using price data obtained from an elaborate survey of 25,000 retail outlets and quantity data generated by the Consumer Expenditures Survey. The CPI is unquestionably one of the most widely recognized macroeconomic price indexes, running second only to the Dow Jones Averages in the price index popularity contest. It is used not only as an indicator of the price level and inflation, but also to convert nominal economic indicators to real terms and to adjust wage and income payments (such as Social Security) for inflation.General EffectConsumer Price Index is one of the most important inflation indicators, which provides apparent signs of recent inflation rates. Partly this index point out consumers' expen...
Dollar surges on the back of strong data and renewed positive outlook
2008-04-16 12:01:00 CURRENCY TRADING SUMMARYU.S. Dollar Trading (USD) surged on Tuesday following surprisingly strong economic data being released from the World?s biggest economy. New York Fed Manufacturing came in at 0.6 for the month of April, improving on March?s figure of -22.23 and vastly outstripping expectations of -17.5. Producer Price Index for the month of March also increased to 1.1%, improving on February?s figure of 0.3% and beating expectations of 0.6%. Furthermore, Capital Net Flows for the month of February surpassed expectations of $56.5 billion, coming in at $72.5 billion, up form $62 billion for the month of January. These results spelt good news for the dollar as it rose against all the major currencies overnight, trimming expectations of substantial monetary easing. Added to these data results, corporate profit readings for the first quarter of 2008 were also better than expected, with Intel posting stronger than predicted results. Added to this Delta?s takeover bid of Northwest A... More About: Outlook , Data , Back , Positive
US Core CPI - On Tap
2008-04-16 12:00:00 Economic NewsUSD Yesterday, the Greenback spent most of the trading day with bullish momentum against the majority of its currency pairs and crosses on the back of surprisingly strong U.S inflation and manufacturing data releases. The greenback added 0.35% to its value against the EUR locking the session below the rate of 1.58, after the first day this week for the USD to appreciate. Also, the strong U.S data release assisted the USD recovery against the Sterling and the JPY, stopping the bearish momentum which characterized the USD since Bernanke's speech last Wednesday.We see yesterday's surprisingly strong U.S. economic data as a benchmark in the US financial crisis calendar. Those figures could be the first that clearly indicate that the US market is better condition than previously perceived.March's PPI release yesterday came at the reading of 1.1%, well above February's inflation rate of 0.3%. Also, the important figure of the Empire State Business Conditions Index, which... More About: Core
Daily Forex Overview
2008-04-16 12:00:00 Previous session overviewOn Tuesday, the dollar rose against key rivals after data showed rising U.S. inflation and improved manufacturing activity, which suggests the Federal Reserve may be unable to lower U.S. interest rates much further.Much of dollar strength came on the back of the higher-than-expected producer price index. Producer prices rose nearly twice expectations, accentuating elevated inflationary pressures as U.S. producers are facing higher fuel, food, and raw materials costs. EURUSD traded at a high of 1.5875 and a low 1.5752, before closing at 1.5775 in New York Sterling fell against the euro and US dollar on weaker-than-expected UK CPI data and on a report showing the UK housing slump is the worst since 1978. GBPUSD traded at a high of 1.9766 and a low of 1.9605, before closing at 1.9607 in New York.The Japanese Yen fell against the dollar on the release of strong U.S inflation and manufacturing data. USDJPY traded at a high of 101.79 and a low of 100.81 before clo... More About: Daily , Forex , Overview
Forexpros Daily Analysis - Morning session - GMT
2008-04-16 11:59:00 Today?s US Dollar Trading? USD range bound ahead of PPI? Muted reaction to the news but USD extends gains? Traders note stops flushed Overnight Preview? More consolidation within existing ranges likely Looking Ahead? 7:30 AM CDT Wednesday CPI forecast +0.3%, core +0.2? 7:30 AM CDT Wednesday Housing Starts and Building Permits forecast 1025K and 970KSummaryAfter a quiet two-way start overnight in Asia the USD stayed within existing ranges until the release of US PPI this morning. Traders note that the data was seen as USD supportive but not enough to break the USD out of current ranges; PPI out at +1.1% (well above expectations) while core was out at +0.2% (as expected). The Greenback attempted to build on initial gains but remained two-sided until after the London fix where a bit of additional buying lifted the USD into fresh highs against most pairs later in the day. Cable of course the big mover as UK data overnight was not so supportive and stops were finally triggered on the dip... More About: Daily , Analysis , Morning
Inflation and housing reports are on focus today
2008-04-16 11:58:00 EUR/USD (1.5794)European & US sessions forecast levels: 1.5750/1.5915Trend Sessions: European: Neutral/UpwardUS: Neutral/UpwardMarket Focus : 8:30 AM CPI, Core CPI, Housing Starts, Building Permits, 9:15 AM Industrial Production, Capacity Utilization, 2:00 PM Fed?s Beige Book, 2:00 AM German CPI, 4:00 AM Italian Trade Balance.Daily Strategy: Today is very rich economic day. It is expecting very important economic events for the world biggest economy. The trader?s focuses are over the inflation report and at the same time at 8:30 AM the situation in US housing sector. The dollar continues to trade close to the record low levels against the euro. If the reports are worse we can see attack of the levels above 1.59 today. The trading strategy is opening long positions today. More About: Inflation
Producer Price Index
2008-04-15 15:52:00 Previous: 0.3%Forecast: 0.7%Definition The producer price index (PPI) is the first indicator of inflation each month. It is a measure of wholesale prices at the producer level for consumer goods and capital equipment. Unlike the CPI, it does not include services. It compares prices for approximately 3,450 commodities to a base period. Currently, the base period, which equals 100, is the average prices that existed in 1982.Source: Department of Labor issued on a monthly basis, it goes down in the recession times and up in times of economic boom (parallel with inflation) and it has a high degree of volatility.General EffectProducer price index is a comprehensive index of wholesale price changes which indicates a future change in retail prices. PPI measures price change from the perspective of the seller. So in other words it is a measure of inflation. Any rise in prices from the producer's side will raise the prices throughout the channel to the final consumer.In particular, the prod... More About: Price , Producer Price Index , Index
US banking sector and worries about US economy put Dollar under pressure
2008-04-15 15:50:00 A surprise first-quarter loss at Wachovia Corp, the fourth-largest US bank, suggested more credit market turmoil ahead, prompting traders to sell Dollar s, mostly against the Euro and Sterling. That helped wipe out Dollar gains seen after finance officials from the G7 developed countries on Friday expressed concern about sharp currency fluctuations. In addition to Wachovia, Merrill Lynch & Co Inc and Citigroup Inc are due to report first-quarter results later in the week, and analysts say both banks may announce billions of dollars in write-downs. The Fed has cut the benchmark interest rate by 300 basis points at 2.25% since credit turmoil began in late August and is likely to reduce it again when it meets later this month. The European Central Bank, meanwhile, has held rates at 4% for more than a year, and ECB Governing Council member Yves Mersch said Monday there is no room for rate cuts this year.News and Events:The Dollar was little changed on Monday as more banking sector st... More About: Economy , Banking
US banking sector and worries about US economy put Dollar under pressure
2008-04-15 15:50:00 A surprise first-quarter loss at Wachovia Corp, the fourth-largest US bank, suggested more credit market turmoil ahead, prompting traders to sell Dollar s, mostly against the Euro and Sterling. That helped wipe out Dollar gains seen after finance officials from the G7 developed countries on Friday expressed concern about sharp currency fluctuations. In addition to Wachovia, Merrill Lynch & Co Inc and Citigroup Inc are due to report first-quarter results later in the week, and analysts say both banks may announce billions of dollars in write-downs. The Fed has cut the benchmark interest rate by 300 basis points at 2.25% since credit turmoil began in late August and is likely to reduce it again when it meets later this month. The European Central Bank, meanwhile, has held rates at 4% for more than a year, and ECB Governing Council member Yves Mersch said Monday there is no room for rate cuts this year.News and Events:The Dollar was little changed on Monday as more banking sector st... More About: Economy , Banking
EUR/USD is close to set new record these days
2008-04-15 15:47:00 EUR/USD (1.5824)European & US sessions forecast levels: 1.5760/1.5915Trend Sessions: European: Neutral/UpwardUS: Neutral/UpwardMarket Focus: 8:30 AM PPI, Core PPI, NY Empire State Index, 9:00 AM Net Foreign Purchases, 2:45 AM French CPI, 4:00 AM ZEW Economic Sentiment, German ZEW Economic Sentiment.Daily Strategy: G7 fail to support the dollar. The pressure against the US currency start early during the European session and is again close to the record trading levels against the euro. For today are expecting new signals against the US economy. At the same time we are expecting positive news for the European locomotive ? Germany. We are not far away by the time when EUR/USD will break above 1.60. The dollar weakness will continue after the new record oil prices this early morning. More About: New Record , Close , Days , Record
EURUSD daily outlook - Tuesday
2008-04-15 15:46:00 The Euro rallied against the greenback on yesterday and recovered its recent losses which brought it below the 1.57 mark. Although the pullback to 1.5670 was large, positive medium term momentum remained intact as the Euro found support on a daily trendline which is now seen at 1.5700. The current consolidation into the 1.5800-1.5850 range suggests that the Euro is ready to take-off and push on the triple top formed into the 1.5895-1.5915 resistance zone. Looking on the daily chart, the breakout setup seem clear enough. Support is formed at 1.5800 backed by 1.5775 then 1.5725 and 1.5700. Resistance is seen at 1.5845 and it is being tested now, then 1.5885 and the record high at 1.5915 and the psychological barrier at 1.6. Current quote is 1.5840 @06:00 GMTSupport levels: 1.5800, 1.5775, 1.5725 and 1.5700Resistance levels: 1.5845, 1.5885, 1.5915 and 1.6000. Market sentiment: long-term : bullish, mid-term : bullish, short-term : bullish More About: Daily , Outlook , Tuesday
Major Currencies
2008-04-15 15:45:00 EURO The European currency rallied towards the major resistance level at 1.5880s covering the gap with heavy volume to form key reversal points taking the currency up today until the key resistance at 1.5950s. The trading range for today might be between the key resistance level at 1.5970 and the key support level at 1.5680. The general trend is up as far as 1. 4260 remains intact targets now at 1.6080 and 1.6360.Support1.5824 1.5802 1.5785 1.5757 1.5729 Resistance1.5853 1.5878 1.5908 1.5927 1.5960 RecommendationWe expect buying euro above 1.5800 with a target at 1.5930, stop loss below 1.5760 GBP The British pound yesterday moved in the upside direction, with high levels of volume to form key reversal signals to take the pound up. Today the pound is expected to move towards the upside. The trading range for today might be between the key resistance level at 1.9950 and the key support level at 1.9630. The general trend is down as far as 2.0200 remains intact targets now at 1.9230 an... More About: Currencies , Major
Cross Rates
2008-04-15 15:34:00 (GBP/JPY)The Pound fell against the Yen back below the 200 level mark, on intraday basis the pair is expected to continue dropping while the momentum indicators are pointing for further downside movement that might take the pair down to the strong support at 198.20 which offers strong demand for the pair.Support198.76 198.20 197.67 197.01 196.32 Resistance199.46 199.99 200.42 200.93 201.43 Recommendation... (EUR/JPY)The Euro managed to incline against the Yen yesterday and continued the bullish wave throughout this morning, yet the short term momentum indicators started showing a downside potential as the pair needs a correction before rising all over again, while the point at 159.76 offers good demand for the pair, yet if the pair was able to breach this level, it might continue its bearish wave to the strong support at 158.80.Support159.76 159.21 158.80 158.35 157.88 Resistance160.13 160.64 161.15 161.64 162.04 Recommendation... (EUR/GBP)The Euro continued its bullish wave again... More About: Cross , Rates
G7 summit fails to rally investor confidence in U.S currency
2008-04-15 15:33:00 CURRENCY TRADING SUMMARYU.S. Dollar Trading (USD) eased on Monday tracking equities markets as investors? faith in the dollar was short lived following the G7 summit. Retail Sales figures released for the month of March rose 0.2%, whilst February data was revised to show a decline of -0.4%, rather than the reported -0.6%. In share market news, volumes were moderate as investors hold out for a number of profit results due to be released in the ensuing days. The Dow Jones eased 23 points (-0.2%), while the NASDAQ lost 14 points (-0.6%). Oil prices rose on Monday following a weaker dollar couple with continual supply concerns, rising US$1.62 a barrel to US$111.76. Looking ahead, PPI Core Output figures are to be released on Tuesday with expectations of a 0.2% growth for the month of March. Producer Price Index is also to be released on Tuesday with forecasts of a 0.6% growth for the month of March. Bear Stearns 1st Quarter profit and loss statement will be released on Tuesday. The Euro... More About: Currency , Rally , Investor , Confidence , Summit
Producer Price Index
2008-04-15 15:32:00 Previous: 0.3%Forecast: 0.7%Definition The producer price index (PPI) is the first indicator of inflation each month. It is a measure of wholesale prices at the producer level for consumer goods and capital equipment. Unlike the CPI, it does not include services. It compares prices for approximately 3,450 commodities to a base period. Currently, the base period, which equals 100, is the average prices that existed in 1982.Source: Department of Labor issued on a monthly basis, it goes down in the recession times and up in times of economic boom (parallel with inflation) and it has a high degree of volatility.General EffectProducer price index is a comprehensive index of wholesale price changes which indicates a future change in retail prices. PPI measures price change from the perspective of the seller. So in other words it is a measure of inflation. Any rise in prices from the producer's side will raise the prices throughout the channel to the final consumer.In particular, the prod... More About: Price , Producer Price Index , Index
Daily Forex Overview
2008-04-15 15:22:00 Previous session overviewOn Monday, the dollar was marginally higher against its rivals, thanks to mildly higher U.S. retail sales data and suggestions of German frustration with the euro.Investors took profit and sold the dollar again after Wachovia, the fourth-largest U.S. bank, reported an unexpected first-quarter loss of USD393 million because of subprime-infected mortgage holdings and disclosed plans to sell USD7 billion of stock, suggesting the worst of the credit crisis has not yet passed. The Euro was very volatile on Monday sinking to 1.56 following the G7 commentary indicating U.S currency strength was a concern, before rebounding to within a cent of the all-time high as the G7 failed to convince investors that they will intervene to prop up the U.S currency. EURUSD traded at a high of 1.5886 and a low of 1.5660 before closing at 1.5800 in New York.The Sterling rose against the major currencies on Monday as evidence of rising inflation was released by Bloomberg, possibly... More About: Daily , Forex , Overview
Daily Analysis - Evening session - GMT
2008-04-15 15:16:00 Overnight Asia/Europe? USD flat to firmer in Asia, falls back in Europe? ZEW lower, caps EURO ahead of 1.5900? Opens New York mixedToday?s Economic Reports? 7:30 AM CDT PPI forecast +0.4%, core +0.2%? 8:00 AM CDT TICSLooking Ahead? 7:30 AM CDT Wednesday CPI forecast +0.3%, core +0.2%? 7:30 AM CDT Wednesday Housing Starts and Building Permits forecast 1025K and 970KSummaryThe Greenback is mixed to open New York after a solid two-way overnight session which saw the majors continue to consolidate within established ranges. In early Asia firmer equities helped to support the USD but as trade opened in Europe economic news from UK and the Eurozone helped to turn the USD back after making slight gains. UK housing data was slightly disappointing which helped to turn Cable back for the overnight highs at 1.9793; that rate well under pressure making lows ahead of the NY open at 1.9659. Technically an inside range day for sterling and therefore inconclusive so far today, Cable is trading ?hea... More About: Daily , Analysis , Evening
Forexpros Daily Analysis - Morning session - GMT
2008-04-15 13:24:00 Today?s US Dollar Trading? USD two-sided, ends mixed? Volumes lightOvernight Preview? Look for light flows overnight? Book-squaring ahead of US data in the morningLooking Ahead? 7:30 AM CDT Tuesday PPI forecast +0.4, core +0.2%? 8:00 AM CDT Tuesday TICSSummaryAfter starting higher overnight on a generally USD-positive change in the closely watched G7 communiqué, the greenback ends the first day of the week mixed in relatively light trade. After the London fix traders report that volumes dropped and the majors drifted lower as the bulk of market participants covered positions initiated on the overnight volatility. GBP rallied into highs at 1.9896 overnight but drifted lower all day to end the NY session sharply lower off the highs near the important 1.9740/50 area; traders note that the rate still is rotating around the 1.9720/30 area as near-term traders debate the significance of the previous monthly support level. EURO rallied into formidable resistance at the 1.5880 area for a hi... More About: Daily , Analysis , Morning
G7 concern sees Euro profoundly weak against U.S. dollar.
2008-04-14 14:31:00 The dollar jumped against the euro on Monday after the Group of Seven nations surprised investors by expressing concern about sharp swings in major currencies, although traders were skeptical about the chances of any imminent intervention.FundamentalThe dollar jumped against the euro on Monday after the Group of Seven nations surprised investors by expressing concern about sharp swings in major currencies, although traders were skeptical about the chances of any imminent intervention. In a nod to Euro pean leaders who have voiced dismay over volatile currency markets that pushed the euro to record highs against the dollar last week, the G7 on Friday issued its strongest expression of concern in more than seven years. In their post-meeting statement, the G7 nations abandoned their long-standing language on currencies and suggested they were worried that sharp currency moves could undermine economic and financial stability.TechnicalThe EUR/USD was trading heavily between 1.5600/50 befo... More About: Dollar , Sees
Data shows mixed directions, but I prefer to follow the bearish trend
2008-04-14 14:29:00 USD/CHF ? Market strategy can be a sell at the level 1.0024 and a taking profit at the level 0.997 or 0.9919, depending on the risk the investor wants to takeUSD/CHF ? Market strategy can be a sell at the level 1.0024 and a taking profit at the level 0.997 or 0.9919, depending on the risk the investor wants to takeData shows mixed directions, but I prefer to follow the bearish trendTo support our analysis we will use oscillators such as MACD (Moving Average Convergence Divergence); we see that data don?t reveal a clear sign. The buying pressure is very weak, with moving averages under the zero line, which may indicate a bearish trend. Also, the signal line is at the same level of the long EMA, not letting us to conclude about the market direction. RSI (Relative Strength Index) line started a bearish direction and is pointing to oversold levels. More About: Directions , Bearish , Trend , Mixed
Technical oscillators support the bullish trend for the currency pair
2008-04-14 14:28:00 EUR/USD ? Market strategy can be a buy at the level 1.5702, the target 1.5888 and the stop loss at the level 1.5678EUR/USD ? Market strategy can be a buy at the level 1.5702, the target 1.5888 and the stop loss at the level 1.5678Technical oscillators support the bullish trend for the currency pairTo support our analysis we will see MACD (Moving Average Convergence Divergence); we see that the selling pressure is losing traction and that EMA lines are still above the zero line, which can reflect an upward trend. RSI give us the power of the market; the strength of the market is on a bullish direction and far from the overbought level, which represents a buying signal. The prices are starting to correct up from the lower Bollinger band. More About: Currency , Support , Bullish , Pair
Technical oscillators support the bullish trend for the currency pair
More articles from this author:2008-04-14 14:24:00 EUR/USD ? Market strategy can be a buy at the level 1.5702, the target 1.5888 and the stop loss at the level 1.5678EUR/USD ? Market strategy can be a buy at the level 1.5702, the target 1.5888 and the stop loss at the level 1.5678Technical oscillators support the bullish trend for the currency pairTo support our analysis we will see MACD (Moving Average Convergence Divergence); we see that the selling pressure is losing traction and that EMA lines are still above the zero line, which can reflect an upward trend. RSI give us the power of the market; the strength of the market is on a bullish direction and far from the overbought level, which represents a buying signal. The prices are starting to correct up from the lower Bollinger band. More About: Currency , Support , Bullish , Pair 1, 2, 3, 4, 5, 6, 7 |
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