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Technical Analysis Daily: GBP/USD
14.07.2008 05:19
actionforex.com
The British Pound rose on Friday against the US Dollar from Friday's bottom 1.9753 to the top 1.9943, which are the the first support and resistance levels respectively for the currency couple today. Today however the currency couple is a consolidation phase. If the negative trend continues, next support is...
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Weekly Forex Signals: GBP/USD
14.07.2008 05:19
actionforex.com
The Sterling may start a downtrend for a short period and then bounce back again versus U.S. dollar as we can see strong volatility in the market, based on technical indicators like RSI, which breaks 70% line downwards, MACD crosses the signal line and breaks the equilibrium level downwards, and...
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Daily Forex Analysis
14.07.2008 05:19
actionforex.com
EUR/USD The strong bullish momentum is calming and the pair is finding consolidation at 1.5900. The Slow Stochastic on the 4 hour chart is showing a bearish cross, which indicates that a corrective move might be quite imminent. Going short with tight stops might be a good decision today.
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Paulson To The Resue
14.07.2008 05:19
actionforex.com
The Usd continued to come under significant selling pressure in Asian session as the bearish dollar sentiment carried over the weekend. EurUsd gapped at the open, quickly trading to 1.5971, however Gbp/Usd which rallied at the open was unable to sustain the upwards moment and traded lower from 1.9914 to...
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Daily FX Report
14.07.2008 05:19
actionforex.com
The GBP/CAD lost in the first half of the July and was supported at 1.99. That support line was maintained for all of June. If the pair increases, the first resistance level will be at 2.02 and the second at 2.04, 200 pips up. However, the turn is not safe,...
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Forex Technical Update
14.07.2008 05:19
actionforex.com
Pound: Cable scaled up 205 pips to touch a high of 1.9957 before giving up some of its gains to close at 1.9867. The Hourly stochastic shows an upmove while the 4-Hourly shows selling pressure, however if the immediate cluster support around 1.9800 (100 & 200 Hourly EMA, 21 4-Hourly...
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IMM Positioning - Only Small Changes To Speculative Positions
14.07.2008 05:19
actionforex.com
Net short US dollar positions saw the largest change and were reduced by USD4bn to USD8bn. Meanwhile net long euro positions were only scaled back slightly and speculative investors have thus not reduced 'implicit' long euro/dollar positions significantly following the ECB rate hike on July 3.
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Today's Key Points
14.07.2008 04:14
actionforex.com
Later this week, the market will have plenty of important events to guide its direction. In the US, Bernanke will deliver his semi-annual monetary policy testimony (Humphrey Hawkins) to the Congress Tuesday and Wednesday afternoon. The Minutes of the June 24-25 FOMC meeting is due Wednesday night. The economic calendar...
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Today's Market Outlook
14.07.2008 04:14
actionforex.com
GBPUSD: Retraced almost 61.8% of the 1.9409/2.0008 rise 13 Jun/01 Jul at Monday's 1.9649 low, from where a two-legged recovery to 1.9797 & 1.9836 was followed by a setback to 1.9712. The bounce from there has stalled just shy of former resist at 1.9797, this must be cleared to avert...
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Dollar Feels The Heat
14.07.2008 04:14
actionforex.com
The raising tensions on the US credit markets due to the problems at Fannie Mae and Freddie Mac together with a spike higher in oil prices triggered a sharp wave of dollar selling on Friday. EUR/USD comes again with striking distance of the all-time highs. A break above this level...
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EUR/USD Daily Outlook
14.07.2008 04:14
actionforex.com
EUR/USD consolidates below 1.5964 today but intraday bias remains on the upside as long as 1.5847 minor support holds. As discussed before, consolidation from 1.6019 should have completed at 1.5302 and rise from there represents resumption of the medium term up trend. Hence, further rise is now expected to retest...
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GBP/USD Daily Outlook
14.07.2008 04:14
actionforex.com
Cable's retreat from 1.9959 continues today and touching of 1.9836 minor support indicates that an intraday top is in place. Further consolidation could now be seen but downside should be contained well above 1.9647 support and bring rally resumption. Further rise is still expected to test 2.0006 resistance first and...
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USD/CHF Daily Outlook
14.07.2008 04:14
actionforex.com
USD/CHF's recovery from 1.0136 continues today and break of 1.0218 minor resistance indicates that an intraday low is in place. Further consolidation could now be seen but upside should be limited well below 1.0352 resistance and bring fall resumption. As discussed before, prior break of short term rising trend line...
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Candlesticks See Dollar Selling Lose Momentum
14.07.2008 04:14
actionforex.com
Last week, an empty calendar saw the market cling to losses in the Dow for directional momentum and the dollar sold off. Looking ahead, reassuring comments from the US Fed and Treasury department has seen anti-dollar momentum stalling with the majors showing similar-looking Inverted Hammer or Hanging Man candlesticks. Initial...
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USD/JPY Daily Outlook
14.07.2008 04:14
actionforex.com
USD/JPY's recovery from 105.64 continues today. As discused before, rebound from 104.98 should have completed at 107.75 already and further decline is now expected to retest this low. Break will confirm that whole fall from 108.58 has resumed and will target 100% projection of 108.58 to 104.98 from 107.75 at...
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