Aud/Usd reversed very nicely from the 1.0070 resistance region, exactly after the market tested 61.8% Fibonacci retracement area. Upward bounce from 0.9802 was clearly made in three wave formation, and current sharp 140 pips of decline suggests that top of a black wave 2/B is in. As such, traders should now focus on more bears … “Aud/Usd: Coming Weakness (Elliott Wave)”
Author: admin_mm
MT4 iPhone Application Introduced by Leverate
Leverate, a provider of solutions for forex brokers, has launched an iPhone application for their Mobile Trader product. This product is distributed through Apple’s App Store. This application can be branded for the brokers’ needs and joins their array of products. I’ve previously reported about Leverate’s product for integrating binary options on Meta Trader 4. … “MT4 iPhone Application Introduced by Leverate”
US Dollar at November 2010 Levels on Recovery Concerns
The US dollar dropped against the euro for a second day in a row today and reached a new 2-month low against it as the dollar bulls were concerned with the pace of the economy recovery. The US currency is down against all other major currencies except Canadian dollar, following the report on US housing starts and building permits. The seasonally adjusted annual rate of the new home starts dropped from 553,000 to 529,000 in December — … “US Dollar at November 2010 Levels on Recovery Concerns”
Swiss Franc Continues Drop vs. Euro on Minister’s Commentary
The Swiss franc continued to fall against the euro today, as the country’s economy minister voiced a concern over the franc’s current strength. Johann Schneider-Ammann, Swiss minister of economy, said at the press briefing in Bern today that the country is in a very good shape compared with the Eurozone but that the overvalued currency still remains a concern as a potential threat. The Swiss franc fell against the euro and the Japanese yen today in a correction that follows … “Swiss Franc Continues Drop vs. Euro on Minister’s Commentary”
Video – Key Events and Technical Levels
In the weekly interview on Forex TV, I spoke with Julie Sinha about key events this week and technical level of three pairs – EUR/USD, GBP/USD and AUD/USD. This is an eventful week for the British pound in particular. Enjoy! British inflation is above target, but the labor market is also suffering. Will we see … “Video – Key Events and Technical Levels”
The Long Trend for GB
How should we regard the UK Claimant Count Figures due Weds 0930 GMT? There could be a temporary dip in the count, but will this actually mean unemployment has gone done, or more importantly that more people are economically active? Guest post by Bob Nielsen People are thrown off the count for transgressions of the complex … “The Long Trend for GB”
CAD Drops Following BoC Decision to Leave Rate at 1%
The Bank of Canada left the overnight interest unchanged and stated its opinion on the possibility of future rate hikes, sending the Canadian dollar straight south against all other major currencies today. The loonie declined even against the US dollar, which is experiencing a rather bad day as of now. The CAD has been bullish before the rate decision was released by the BoC. While the market participants expected that the overnight rate target … “CAD Drops Following BoC Decision to Leave Rate at 1%”
Pound Up on Accelerated Inflation
The Great Britain pound rose against all other major currencies (except euro) today, as the December inflation in United Kingdom surged above the expectations. UK Office of National Statistics reported the consumer price index at 3.7 percent for December 2010 — above 3.3 percent November reading and 3.4 percent forecast by the major economists surveyed by Bloomberg. The value is also above the Bank of England target of 3 percent. Such inflation level … “Pound Up on Accelerated Inflation”
Euro Drops Against Majors — Germany Reluctant to Increase Help
Euro declined against almost all other top-traded currencies today as the commentaries from the Eurozone’s financial officials didn’t add optimism to the major European debt holders. Investors believe that the indebted Eurozone countries (such as Greece, Ireland and Spain) will require additional bail-out funds to keep their debt from defaulting. Meanwhile Finance Minister of Germany Wolfgang Schäuble is reluctant to increase the size of the help fund for those economies: … “Euro Drops Against Majors — Germany Reluctant to Increase Help”
Irish Banks Scavenging Central Bank
After taking bonuses, the Irish banks are now seizing money from Ireland’s central bank. In urgent need for cash, banks such as Allied Irish Bank (nyse:aib) and the Bank of Ireland (nyse:ire) are now using unknown funds – not from European Central Bank (ECB) but rather the local one. The Telegraph reports that the vast … “Irish Banks Scavenging Central Bank”