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Mid-Day Report: Dollar Remains Pressured Despite Better than Expected ISM
01.07.2008 11:17
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Dollar is lifted mildly in early US session after better than ISM manufacturing index but remains generally pressured as oil price is back near $143 a barrel after an IEA report said that supplies would remain tight despite record prices and reduced demands. After 4 months of contractionary reading, the...
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US ISM Manufacturing Signals Expansion For First Time In 5 Months, Prices Paid Hits 34-Year High
01.07.2008 11:17
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The Institute for Supply Management's (ISM) index of conditions in the manufacturing sector in June unexpectedly rose above 50 - indicating expansion - for the first time in five months to 50.2 from 49.6. A breakdown of the report reflects a surge in the prices paid component, which hit a...
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Daily FX Forecast
01.07.2008 10:20
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EUR/USD has reversed above 1.5770 earlier today Today focus will be on US ISM Manifacturing Index at 14:00 GMT The consensus is at 48.5 No change in our view. As long as price holds above 1.5730 first Support the uptrend remains intact for test towards towards 1.5840-50 area if the...
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FX Thoughts for the Day
01.07.2008 09:17
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A spike as high as 2.0010 was witnessed in the day today. Cable has seen a fall since then towards the Support at 1.9950. For now it seems that 2.00 being an important psychological level, could be tough to break past. As a result it could lead to some consolidation...
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FX Technical Strategy Weekly: Dollar Bear Trend Close to Resuming
01.07.2008 09:17
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In the last release, the discussion centred on the prospects that the dollar bear trend was close to resuming. Whilst a straight line move may not be forthcoming due to the current market environment, the risk for dollar swiss to hit parity and and euro dollar to break through 1.60...
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Elliott Wave and Fibonacci Predictions: EUR/USD
01.07.2008 09:17
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Hey traders, I got my confidence back, I have right about wave iv correction, which made low at 1,5723. I went long after the Germany reports at 1,5740 with 30 pips of stop. Right now I trail my stops in the 15 pips of profit zone and already closed half...
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Technical Analysis Daily: USD/JPY
01.07.2008 09:17
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The US Dollar dropped today significantly against the Japanese Yen from today's top 106.34 to the bottom 105.34, which are the first resistance and support levels respectively for the currency couple today. If the negative trend continues, next support further down is expected at 104.50, the break of which would...
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London Session Recap
01.07.2008 09:17
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The greenback lost ground against the majors in London trading as higher oil prices, lower US yields and a decline in US stock futures weighed on the buck. Crude oil prices rose nearly $2 to $142.20/bbl and remain stubbornly above that $140 level that continues to keep the USD under...
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Daily Technical Strategist
01.07.2008 08:16
actionforex.com
After an intra day high of 1.5834 was printed in early trading on Monday, EUR gave back those gains to close the session lower at 1.5749.While the 1.5842 level, its Jun 09'08 high remains significant resistance and unbroken,EUR may face downside weakness as long as it fails to decisively push...
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AUD - the Pinocchio of the FX market
01.07.2008 08:15
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'I've got no strings .........' If the Australian dollar could sing, it would probably sing this Pinocchio song right now. The dollar is dangling like it was controlled by a puppeteer, no longer attached to previously good macroeconomic and financial correlations. The global slowdown has so far not affected the...
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Ahead of ISM Manufacturing as USD Resumes its Fall...
01.07.2008 07:14
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The negative sentiment for the greenback continues as still investors lack confidence in the U.S economy as they feel that it not performing any better. Today the U.S is releasing fundamentals concerning the manufacturing sector as it is expected to show that the economy is still contracting since costs of...
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Euro Could Remain Strong Against Fragile Dollar!
01.07.2008 07:14
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The euro is expected to hover around current levels to the dollar for the next three months given an outlook for steady interest rates in the U.S. and euro zone. The monthly survey of many analysts showed they expect the euro to trade around 1.60 for the next couple of...
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Economy Fears Hamper Sterling
01.07.2008 07:14
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Sterling will gain some further support form a reduction in short positions, but he economic outlook will limit gains The UK currency found support on dips during Monday with support close to 1.99 against the dollar and 0.7940 against the Euro with the currency still proving to be resilient.
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What's Next for EUR/USD? Next Month Will be Crucial for Dollar's Direction...
01.07.2008 06:31
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Another month is coming to its end with markets having trouble adjusting to recent economic events. First of all, June was a very important month for the European Central Bank, as it celebrated its 10th anniversary. In the ten years which have passed since the formation of the ECB in...
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Currency Pair Daily Forecasts
01.07.2008 06:31
actionforex.com
EUR/USD-market strategy can be a sell till the level 1.5695$ To strengthen our analysis; we use many other indicators, starting with MACD (Moving Averages convergence divergence); we notice the MACD lines after a bearish crossover below the zero line. In order to find the power of the market, we use...
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