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USD/CHF Daily Outlook
16.07.2008 05:18
actionforex.com
USD/CHF's fall from 1.0352 was contained at 1.0010, slightly above 0.9995 support and recovers mildly. Break of 1.0093 minor resistance indicates that an intraday low is in place and more consolidation could now be seen. But upside should be limited well below 1.0250 resistance and bring fall resumption. As discussed...
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Usd On Weak Footing
16.07.2008 05:18
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Usd was range bound in Asian session as markets pause from dollar selling to evaluate current pricing. However we are anticipating another busy and volatile day. EurUsd bounced between the 1.5866 - 1.5932 while UsdJpy continued to slide from 105.12 to 104.27. With risk aversion reaching elevated levels, carry trades...
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USD/JPY Daily Outlook
16.07.2008 05:18
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USD/JPY's fall from 107.75 extends further to as low as 103.91 today, taking out mentioned 100% projection of 108.58 to 104.98 from 107.75 at 104.15 as expected. At this point, intraday bias remains on the downside as long as 105.12 minor resistance holds. Further decline should be seen to test...
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Today's Market Outlook
16.07.2008 05:18
actionforex.com
GBPUSD Has broken layers of congestive tops from 2.0008, 01 July, to 2.0050, 04 April, while extending current up leg from 1.9649 higher low, 07 July. Pullback off Tuesday's 2.0162 high, approximately 76.4% of 2.0399/1.9361 fall, unwinds over- extended conditions while a higher low over 2.0008/00 is sought before next...
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EUR/JPY Daily Outlook
16.07.2008 05:18
actionforex.com
EUR/JPY's fall from 169.66 extends further to as low as 165.60 today. At this point, intraday bias remains on the downside as long as 167.15 minor resistance holds and focus remains on mentioned 165.50 cluster support (23.6% retracement of 151.71 to 169.66 at 165.42, 38.2% retracement of 158.60 to 169.66...
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GBP/JPY Daily Outlook
16.07.2008 05:18
actionforex.com
GBP/JPY's fall from 213.91 finally resumed as expected and dives to as low as 208.55 so far. At this point, intraday bias remains on the downside as long as 210.44 minor resistance holds. Further fall is now expected to be seen to test key near term support at 199.78. On...
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Swiss Retail Sales Rebounds, Led by Food And Apparel Purchases
16.07.2008 05:18
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Swiss retail sales rose 7.4% in May rebounding from a 9.4% decline the month prior, as consumer consumption remained resilient despite the slowing economy. An 8.2% increase in food purchases and a 7.2% improvement in clothing sales after slumping 24.7% in May led to the results beating economist expectations of...
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Daily Report: Yen Maintains Broad Based Strength on Risk Aversion
16.07.2008 04:15
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While dollar stabilizes a bit against most major currencies, the Japanese yen maintains its upside momentum and continues to climb higher against most currencies as markets are still concerned on the impact of credit crisis to the global economy. The broad based strength in yen argues that the rebound in...
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Daily Forex Analysis
16.07.2008 04:15
actionforex.com
EUR/USD After the pair crossed the 1.6000 level yesterday, there has been a sharp drop in EUR/USD price. The hourly chart is showing a distinct bearish channel, as the pair now floats in the middle of it. The momentum is strong and the next target price might be 1.5800. The...
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Today's Key Points
16.07.2008 04:15
actionforex.com
Today's agenda will be largely dominated by inflation data. In Euroland we receive the final HICP figure for June at 11:00 CET, which we expect to be confirmed at 4.0% y/y. That said, the risks are for a downward revision to 3.9% y/y. In the US, the CPI for June...
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Another Busy Day
16.07.2008 04:15
actionforex.com
The Forex market yesterday witnessed a lot of new records and unexpected moves, as dollar sank to its lowest levels, with bad U.S. fundamentals and re-newed fears from slowing economic growth, yet the day ended on other terms preparing for today's important economic releases.
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Daily FX Report
16.07.2008 04:15
actionforex.com
The EUR/GBP is currently in a long term upward triangle. This triangle has existed since the beginning of May and has been constantly bouncing between the upper and lower bounds. In the last two days, the GBP made such strong gains that it touches the under line. Now could be...
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EUR/USD Sets New All-Time High, But Test Was Rejected
16.07.2008 04:15
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Currency markets were influenced by conflicting signals. The yen was the major beneficiary of the new flaring up in global market stress. EUR/USD tested the all-time highs, but the euro apparently has no strong enough cards to become the real safe haven alternative for the dollar.
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Technical Analysis for Crosses
16.07.2008 04:14
actionforex.com
The Euro also declined heavily against the Yen yesterday, as the pair was undergoing a strong downside correctional wave that took it beyond the 38.2% correctional level at 166.59 and the pair continued to drop to reach near the 50% level at 165.67, the momentum indicators are showing the pair...
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Forex Technical Analytics
16.07.2008 04:14
actionforex.com
The pre-planned breakout variant for sells has been realized with attainment of minimal assumed target. OsMA trend indicator having marked the relative rise of parties' activity with a minimal advantage from buyers gives minimal grounds to choose buyers' planning priorities for today. Hence and taking into account the feature of...
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