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Analysts Snapping Up Some Euros?
08.07.2008 10:18
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Four out of seven DailyFX Analysts are looking to go long Euros against something. Longer term traders Saettele and Sousa prefer the EUR/USD outright and expect a break of 1.60. Shorter term traders Kicklighter and Spivak like buying EUR/JPY and EUR/GBP respectively.
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Dollar Rally is Corrective
08.07.2008 10:18
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The EURUSD drop from 1.5909 is corrective in nature and should eventually be fully retraced. Potential support is at 1.5534 although today's low at 1.5611 may very well hold. The correction reached 1.5612 yesterday and may be complete. The 61.8% of 1.5303-1.5909 at 1.5534 would be the next level of...
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Dollar Gets Bernanke Lifeline
08.07.2008 09:23
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Dollar lifts off its lows as Fed Chairman Bernanke throws a quick a lifeline to the when he said earlier this morning the Fed is considering the extension of lending facility to Primary into next year. This may be what the markets wanted to hear after credit woes pertaining to...
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Technical Market View
08.07.2008 09:23
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AUD/USD: The area of 0,9630-50 could not be breached again. The base of 0,9500 is tested. A downward break seems as the most possible scenario and targets will be at 0,9350-70 area... EUR/CHF: First important interim resistance at 1,6150 was not breached and a retracement to the base of 1,6020-40...
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FX Thoughts for the Day
08.07.2008 09:23
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The rise to 1.9800 was seen in the day after an early morning dip to 1.9712 was seen. Cable could now remain ranged between 1.97-1.98 for the day, with the possibility ot touch the former first. Overall, now the picture is bearish unless ofcourse a break past 1.9800 is recorded....
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London Session Recap
08.07.2008 09:23
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The US dollar was slightly bid against most of the majors in the London session as lower oil prices helped the buck. Crude oil fell nearly $3 to $139.60/bbl in the session despite more news reports of saber-rattling from Iran. This helped USD/CAD push higher from an open near 1.0160...
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Currency Technical Report
08.07.2008 08:19
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Euro rose after 1.5610 low, covering almost 50% of the previous drop. New concerns about the credit crisis, caused high volatility to the stock markets and dollar get pressured against all basic currencies. The trend remains bearish, but the market's sentiment could hardly be considered in favor of the dollar....
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Risk Averse
08.07.2008 08:19
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The G8 meeting is continuing today in Japan as we have another day left which is a total of three days since Monday where Mr. Bush is still strong about supporting the greenback while other leaders reacted slightly to his comments. As the global stock markets recorded losses yesterday dragged...
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Technical Analysis Daily: USD/JPY
08.07.2008 08:19
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The US Dollar started descending significantly from the beginning of this week against the Japanese Yen from Monday's top 107.73 to today's bottom 106.25, 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...
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European Market Update
08.07.2008 07:16
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In currencies, the risk aversion theme crept back onto the front burner as dealers discussed the renewed concerns over the financial sector. Freddie and Fannie bonds were under a great deal of pressure as players questioned the quasi government guarantee and their AAA ratings. The JPY and CHF were firmer...
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Daily Technical Strategist
08.07.2008 07:16
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EUR remains firmly above the 1.5650 level( June 20'08 high) having traded lower intra day and later taking back those losses to close higher on Monday after bouncing off its daily ema currently located at 1.5629.While this development continues to playout,the pair is expected to head to the upside reducing...
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Daily Technical Strategist
08.07.2008 07:16
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EUR remains firmly above the 1.5650 level( June 20'08 high) having traded lower intra day and later taking back those losses to close higher on Monday after bouncing off its daily ema currently located at 1.5629.
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Defensive Dollar Support
08.07.2008 07:16
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The dollar was unable to sustain the gains on Monday and dipped to lows around 1.5750 in New York as risk aversion increased following a sharp reversal in US stock indices. There were fresh concerns over the US mortgage sector and the risk of further debt write-downs which unsettled the...
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Euro Recovers After Volatile Night - The New Safe Haven Bid?
08.07.2008 06:15
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A very volatile night of trade in the currency market that produced lots of heat but little light with EURUSD trading essentially unchanged after dropping more than 70 points in early European trade. With global equity markets registering triple digit losses, on fears of further problems in the financial sector,...
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FXcast has decreased the cost for Swap free accounts
08.07.2008 06:15
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Dear Partner, FXcast announces today that due to the big amount of Customers the company could decrease the cost of its Swap Free Muslim Accounts to 5 USD per traded lot. This means that a customer who applies for a Swap Free account for religious reasons pays only 0.5USD for...
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