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Forex Technical Update
10.07.2008 04:20
actionforex.com
Euro: Euro traded within 100 pips in yesterday's session as it touched a high of 1.5750. The pair took resistance around 50% of the recent fall yesterday. The 4-hourly stochastic overbought and a fall upto 1.5675 (100 4-hourly EMA & 21 Daily EMA) can be expected. Initiate longs at these...
World
E-commerce
Dollar Slightly Lower On Resurfacing Credit Woes
10.07.2008 04:20
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The dollar lost moderate ground yesterday on resurfacing credit concerns and risk aversion. However, the losses were again only of intra-day significance. The broader picture remains unchanged with the major (USD) cross rates still locked within the established ranges
World
E-commerce
Today's Key Points
10.07.2008 04:20
actionforex.com
We start yet another day with a light data calendar and will most likely instead take the lead from gyrations resulting from the fears and hopes regarding the fate of the US GSEs. There is, of course, also a rate announcement from Bank of England (unchanged rate), which could offer...
World
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Bernanke On The Stand...
10.07.2008 04:20
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As markets rest in peace this week, today maybe the only day that will make investors move again and start moving markets, with the BoE's rate decisions on the queue, and after that when the Fed Chairman stand to testify about the economy.
World
E-commerce
Daily FX Report
10.07.2008 04:20
actionforex.com
At the beginning of June, the USD/JPY broke through its strong holding resistance. This resistance was part of a sideways trading range between 102.5 and 105.5. After crossing, the USD started a new bullish trend until 108.5. The currency pair rebounded at the resistance and traded back to the support...
World
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Forex Technical Analytics
10.07.2008 04:20
actionforex.com
The assumed test of the key supports for realization of the pre-planned buyers' positions has not been confirmed and the preservation of low activity of both parties with minimal advantage of bearish party gives grounds to preserve earlier composed trading plans almost without changes. Hence we assume a possibility of...
World
E-commerce
Daily Financial Market Outlook
10.07.2008 04:20
actionforex.com
The Bank of England is expected to maintain interest rates at 5% today. However, although recent data have raised fears of a sharp economic slowdown, the discussion is likely to have still centred around the need for higher interest rates to combat accelerating inflation. The price components of recent surveys...
World
E-commerce
Losses In American Stocks Create Jitters In The Market Place
10.07.2008 04:20
actionforex.com
Despite larger-than-expected draws in crude inventories, the bearish sentiment is still holding, while oil prices are still trading above $135. At 11:00 GMT, BoE will be announcing its key rates. Nearly all analysts surveyed by Bloomberg are estimating for the rates to be kept unchanged at 5%, while a...
World
E-commerce
EUR/JPY Daily Outlook
10.07.2008 04:20
actionforex.com
EUR/JPY continues to be bounded in choppy sideway trading between 166.08 and 169.46. While another fall cannot be ruled out, downside should be contained by 165.27/31 cluster support (38.2% retracement of 158.60 to 169.46 at 165.31 and 38.2% retracement of 151.71 to 169.46 at 165.27) and bring rally resumption. On...
World
E-commerce
EURUSD, AUDUSD, EURCHF Daily Outlook
10.07.2008 03:18
actionforex.com
EURUSD: Key resistance comes around 1.5785 and a potential break would confirm the uptrend. Interim resistance is noticed at 1.5760 formed by the 50% retracement of the 1.5908-1.5611 move but it should not act as a strong barrier. On the downside, near term support is formed around 1.5725 by an...
World
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Technical Analysis for Crosses
10.07.2008 03:18
actionforex.com
The Euro also settled against the Yen as the pair was not able to breach the resistance at 168.98 which pushed the pair back to the downside to gather more upside momentum, the pair dropped to the support at 167.78 which provided it with strong upside momentum in an attempt...
World
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Bernanke Testimonial is the Highlight
10.07.2008 03:18
actionforex.com
The USD/JPY really needs more confirmations to see in what way it head, having more potential according to technical indicators to slide down, though if it closes below 107 levels a descending channel will be created, as we are waiting today for the Testimony made by Mr. Bernanke and Mr....
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GBP/USD Daily Outlook
10.07.2008 03:18
actionforex.com
Cable's rebound from 1.9647 extends further today and break of 1.9798 resistance again indicates that fall from 2.0006 could have completed already. Intraday bias is flipped back to the upside for retesting this high. Break will indicate that rise from 1.9408 has resumed. As discussed before, rise from 1.9363 represents...
World
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Technical Analysis for Major Currencies
10.07.2008 03:18
actionforex.com
The pair was able to initiate a new upside channel two days ago within the upside trend that has started on June 13, 2008 supported by the ongoing rebound from the 38.2% correctional level for this trend. As we witnessed yesterday, the Euro was able to remain above the 1.5680...
World
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EUR/USD Daily Outlook
10.07.2008 03:17
actionforex.com
EUR/USD edges marginally higher above 1.5754 but lacks follow through buying to sustain above this level. Outlook remains neutral as the pair is still bounded in tight range of 1.5611 and 1.5754. A discussed before, on the upside, above 1.5754 will encourage stronger rise towards 1.5908 high. Break will confirm...
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