With a build up on the gains of EUR/USD in the past week gains now underway, we look for EUR to convincingly break and hold above the 1.4648 level. Guest post by www.fxtechstrategy.com This will pave the way for further strength towards the 1.4681 level, its Dec 12’2010 followed by the 1.4800 level, its psycho … “EUR/USD Bullish, Targets Further Strength”
Month: April 2011
New Zealand Dollar Rises, Signaling Carry Trade Return
The New Zealand dollar reached a new a new 3-year high against the greenback today and appreciated against the Japanese yen, showing that the carry trade tendencies are growing stronger now. The kiwi (as the NZD is often called) rose against its major counterparts before some major macroeconomic releases will be reported tomorrow, including April business confidence and money supply data for March. The currency is demonstrating 11.8 … “New Zealand Dollar Rises, Signaling Carry Trade Return”
GBP/USD: Trading the GDP Release
The first release of British GDP comes after a quarter of contraction and draws a lot of attention. Did Britain slip into recession? This release will rock the pound. Here’s an outlook for this event and 5 possible outcomes for GBP/USD. The first, preliminary release of Britain’s Gross Domestic Product will happen on Wednesday, April … “GBP/USD: Trading the GDP Release”
US Default and Currencies
There are growing talks about a possible default of the US on its payments. While the chance of this happening remains very low, such an event will have a huge effect on the markets. How will currencies react? Here’s some background and possible movements for selected currencies. The Unites States is getting close to its … “US Default and Currencies”
USD/CHF Broadly Biased To The Downside Long Term
Although Dollar/Swiss sustained a marginal loss on Friday possibly trying to initiate a recovery higher, its overall long term downtrend continues to dominate. Guest post by www.fxtechstrategy.com It opened the week lower as at the time of this analysis today and now looks to return below the 0.8779 level, its 2011 low with a firm break … “USD/CHF Broadly Biased To The Downside Long Term”
Swiss Franc Sets New Records on Continued Positive Sentiment
The Swiss currency reached a new all-time record against the US dollar and did well against the other major currency pairs today, as the market participants continued to base their positions on the positive monthly outlook report released earlier by the central bank of Switzerland. The franc rose against the US dollar, breaking the record high level set on April 21 — the USD/CHF pair is in a constant bearish wave since June 2010. The Swiss franc … “Swiss Franc Sets New Records on Continued Positive Sentiment”
AUD/USD: Trading the CPI Release
The quarterly release of Australia’s CPI will be a major market mover for AUD/USD on any result. Here are the details about this highly anticipated release and 5 possible scenarios for the outcome and the expected reaction in AUD/USD. Indicator Background Australian Consumer Price Index will be released on Wednesday, April 27th, at 1:30 GMT. … “AUD/USD: Trading the CPI Release”
Forex Social Networks Poll
Andriy Moraru brings a very nice review of the existing forex social networks, including a measure of the activity on these forex social networks and their value to traders. The 7 social networks that Moraru reviews are Currensee, MyFXBook, FXStat, Forex Factory, MeetPips, FXBees and MeetFX. I recommend reading his great overview and voting on … “Forex Social Networks Poll”
Yen Down as Markets Await Dovish Words from BoJ
The Japanese is currently dropping against its major Forex counterparts, as the market professionals expect that the country’s central bank will have to lower its economic growth forecast and leave the monetary policy at its loose state. The yen fell against the US dollar for the first day since Tuesday and declined against the euro and the British pound today. The Bank of Japan is having its policy meeting on April 28, where the Statement … “Yen Down as Markets Await Dovish Words from BoJ”
AUD/USD Builds Up Further Strength
A strong rally saw AUDUSD pushing through the 1.0600 and 1.0700 levels the past week. This has opened the door for more strength towards the 1.0800 level where a break will allow for further gains towards the 1.0900 level and then 1.100 level. Guest post by www.fxtechstrategy.com Its weekly momentum studies are bullish and pointing higher … “AUD/USD Builds Up Further Strength”