EURUSD: EUR has resumed its long term uptrend after rallying back above the 1.4266/79 levels, its key resistance level in early morning trading today. A firm hold above that level on a weekly closing basis will build a base for further strength towards the 1.4576 level, its Jan 2010 high. Guest post by www.fxtechstrategy.com Above … “EURUSD: Resumes Long Term Uptrend, Eyes Further Upside Gains.”
Author: admin_mm
Sterling Rises as PPI Jumps
The Great Britain pound advanced, rising to the highest level in almost three months against the US dollar, as the report today showed that the UK producer prices index climbed in March. Both input and output prices rose in Britain last month. The output price measure for all manufactured products rose 0.9 percent between February and March, lead by prices for petroleum, tobacco, alcohol, and food products. The input price measure of UK manufacturersâ … “Sterling Rises as PPI Jumps”
Rand Strengthens as Gold Reaches Record
The South African rand reached the highest level in more than three months against the US dollar today as central said that restraining the capital inflows to weaken the currency “would not be appropriate” and as gold touched another all-time high. Daniel Mminele, a South African Reserve Bank Deputy Governor, said that South Africa “carefully studied” the actions that other emerging-market countries have taken to limit foreign inflows … “Rand Strengthens as Gold Reaches Record”
GBP/USD Elliott Wave Update
Very nice, almost perfect advance since yesterday update at the end of the Wall Street session when a fourth wave triangle has completed. We know that triangle unfolds just prior to the FINAL wave of a the larger pattern, and as such, prices will likely slow down in sessions ahead, since our blue wave (v) … “GBP/USD Elliott Wave Update”
Yen Climbs After Another Earthquake, Rates Stays Unchanged
The Japanese yen rose today on the speculation that demand from investors will shift to safe currencies from higher-yielding ones after Japan was hit by another earthquake. Today Japan experienced yet another earthquake. The 7.1-magnitude tremor is the strongest since the earthquake on March 11 and caused the tsunami warning. Tokyo Electric Power Co. reported that the new earthquake hasn’t influenced the Fukushima nuclear power plant that was … “Yen Climbs After Another Earthquake, Rates Stays Unchanged”
GBP/USD Elliott Wave Analysis
The most recent structure on cable looks very corrective, and shows a clear evidence of a triangle consolidation, which appears in wave iv) of an impulsive structure. As such, new highs are expected in coming sessions, which will be wave v), targeting 1.6380/400 region, while 1.6250 support holds. Break through the upper blue resistance line … “GBP/USD Elliott Wave Analysis”
Euro Falls Even as ECB Raises Interest Rates
The euro fell today as the news that Portugal will seek a bailout overshadowed the expected increase of the interest rates by the European Central Bank. ECB President Jean-Claude Trichet was giving hints about possible rates hike for a long time, but not everybody believed him as the state of the peripheral economies of the European Union wasn’t supportive for such move. Nonetheless, the ECB raised its minimum bid rate from 1 percent to 1.25 … “Euro Falls Even as ECB Raises Interest Rates”
GBPJPY – Bullish, Sets Up For More Gains
GBPJPY – With a firm hold above the 135.47 level seen and a challenge on further upside underway, GBPJPY looks to target the 142.00 level. This buttresses our call for the possibility of a follow through higher in our weekly analysis. Its new offensive is coming on the back of the resumption of its short … “GBPJPY – Bullish, Sets Up For More Gains”
BOE Keeps Rates Unchanged, Weakens Pound
The Great Britain pound slipped today after the Bank of England decided to keep the interest rates and the assets-purchase program unchanged. Britain’s central bank held its official Bank Rate unchanged at 0.5 percent. Such move was expected by Forex market participants. Some economists say that an increase of the rates in May or June is possible. GBP/USD fell from 1.6329 to the intraday low of 1.6262 today and traded near 1.6312 as of 12:11 … “BOE Keeps Rates Unchanged, Weakens Pound”
Good Employment in Australia Increases Demand Aussie
The Australian dollar hit yet another record against the US currency today as the report about the employment in Australia was better than anticipated. According to the Australian Bureau of Statistics, Australian employers added 37,800 jobs in March, compared to the predicted value of 22,700. This advance followed the decline by 8,600 jobs in February. The unemployment rate went down to 4.9 percent, while it was expected to stay at 5.0 percent. AUD/USD went up … “Good Employment in Australia Increases Demand Aussie”