Pound/Dollar: Although the outlook for GBP remains higher in the long term, the possibility of a corrective pullback continues to increase as the pair is presently weakening following a turn ahead of its April 28’2011 high at 1.6743. This development could see the pair weaken further towards the 1.6598 level, its April 21’2011 low where … “GBP/USD Bullish But Losing Upside Momentum”
Month: May 2011
Don’t Rule Out an Australian Rate Hike
Australia’s central bank faces a tough dilemma as it needs to tackle rising inflation on the background of a soaring currency. Here’s a preview for the Australian rate decision. The Reserve Bank of Australia will release the new interest rate on Tuesday, May 3rd, at 4:30 GMT. There is a wide market consensus that Glenn … “Don’t Rule Out an Australian Rate Hike”
EUR/USD In Correction, Gains Ahead
The Top story today is definitely death of Osama bin Laden, which caused some mixed moves across the markets. We saw lower reaction on commodities but some strength on stocks and dollar. Guest post by Gregor Horvat Generally speaking, the FX quotes are very calm as London markets are closed today, but we really need … “EUR/USD In Correction, Gains Ahead”
EUR/USD Bullish, Targeting The 1.5140 Level.
Euro/Dollar has decisively broken and held above the 1.4576 and 1.4681 levels to close strongly higher the past week. With this occurring, risk of further strength is now seen towards the 1.4902 level where a violation will put the pair in a position to strengthen further towards the1.5140 level, its 2009 high. Guest post by … “EUR/USD Bullish, Targeting The 1.5140 Level.”
USD/CHF Continues to Lean Lower in the Long Run
Dollar/Swiss continues to weaken, closing lower for a fourth week in a row after ending its two-week correction at 0.9340 in late Mar’2011. Guest post by www.fxtechstrategy.com This development now leaves USDCHF targeting further declines towards its psycho level at the 0.8600 level where a breach will set the stage for more weakness towards other … “USD/CHF Continues to Lean Lower in the Long Run”