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Daily Technical Strategist
11.07.2008 07:13
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A second day of upside recovery saw EUR head higher to close Thursday session at 1.5786.This is coming on the back of its recovery off the 1.5610 low and its hold above its daily 50 ema/LT rising trendline currently at 1.5630/1.5547.
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Finance Fears Unsettle USD
11.07.2008 07:13
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The dollar was unable to sustain gains through the 1.57 level against the Euro on Thursday and weakened to lows around the technically important 1.58 region after support levels near 1.5750 were broken with the dollar still weak on Friday.
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European Market Update
11.07.2008 06:17
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In the currencies press reports were getting the attention overnight.The USD was off its recent lows after press reports surfaced that the Bush administration was looking at a potential government takeover of Fannie Mae or Freddie Mac. The EUR/USD was trading around 1.5785 and the USD/JPY around 107.15. Oil is...
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Euro Holds Its Gains -Will Oil Hit $150?
11.07.2008 06:17
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A very quiet night of trade for the final session of the week as EURUSD held its gains in the wake of further problems in the US financial sector as investors questioned the solvency of Fannie Mae and Freddie Mac. The unit has now recovered almost all of its loses...
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Currency Pair Daily Forecasts
11.07.2008 06:17
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EUR/USD-market strategy can be a buy from the level 1.5708$ To strengthen our analysis; we use many other indicators, starting with MACD (Moving Averages convergence divergence); we notice the MACD lines in a bullish direction and crossing the zero line. In order to find the power of the market, we...
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Dollar In Decline As Consumer Confidence Expected To Come In Low
11.07.2008 05:18
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The dollar headed for a weekly loss against the euro on speculation a report today will show U.S. consumer confidence fell to a 28-year low, signaling the Federal Reserve will refrain from raising interest rates this year. The currency traded near a 25-year low versus the Australian dollar after Treasury...
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Japanese Yen Lows Unavoidable Against Competent U.S. Dollar!
11.07.2008 05:18
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Consumer sentiment in Japan worsened in June for the third straight month. The index measuring consumer confidence fell 1.3 pts to 32.6 in June from May's reading of 33.9 - a new record low. 87.2% of those surveyed expect the price of goods in Japan to rise in the next...
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Technical Analysis Daily: GBP/USD
11.07.2008 05:18
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The British Pound is still trading in a range from the beginning of this week against the US Dollar. Yesterday GBP/USD dropped from yesterday's top 1.9838 to the bottom 1.9718, which are the the first resistance and support levels respectively for the currency couple today. Today however the currency couple...
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EUR/USD Daily Outlook
11.07.2008 05:17
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EUR/USD turns sideway after rebound to 1.5801. As discussed before, prior break of 1.5754 resistance reaffirms the case that fall from 1.5908 has completed at 1.5611 already. Further rally is now expected to test this high. Break will confirm that rise from 1.5302 has resumed for retesting 1.6019 record high...
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GBP/USD Daily Outlook
11.07.2008 05:17
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As mentioned before, with 1.9671 support still holds, favor is in the case that correction from 2.0006 has already completed at 1.9647. Above 1.9837 resistance will bring further rally to retest 2.0006 high. Break will indicate that rise from 1.9408 has resumed. As discussed before, rise from 1.9363 represents another...
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Forex Technical Analysis
11.07.2008 05:17
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EUR/USD The currency pair has set a local bottom at 1.5301 completing the slide from 1.5844. Technical indicators are neutral. Trading takes place above 50- day SMA, currently projected at 1.5583.
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USD/CHF Daily Outlook
11.07.2008 05:17
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No change in USD/CHF's outlook as the pair continues to engage in choppy sideway trading above 1.0127 minor support. While further rise cannot be ruled out, upside of the rebound from 1.0111 is still expected to be limited by mentioned 61.8% of 1.0539 to 1.0111 at 1.0376. Meanwhile, on the...
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USD/JPY Daily Outlook
11.07.2008 05:17
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Intraday outlook in USD/JPY remains neutral for the moment as the pair is still bounded in choppy sideway trading between 106.25 and 107.75. On the upside, further rally could not be ruled out but still, note that sustained break of 108.59 key medium term resistance is needed to confirm whole...
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Today's Key Points
11.07.2008 05:17
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Once again this week we are faced with a very light data agenda. In the US we will see the University of Michigan confidence indicator and in Euroland we will get an important piece of the inflation jigsaw puzzle as Spanish CPI numbers are published. Most likely, the market will...
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EUR/JPY Daily Outlook
11.07.2008 05:17
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EUR/JPY's rise extends further and is now pressing 169.46 resistance. Break of the inner falling trend line is taken as the first signal that consolidation from 169.46 has completed. Intraday bias now remains on the upside as long as 167.82 minor support holds. break of 169.46 will indicate recent rally...
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