GOLD Holds On To Its Bullish Tone GOLD: Outlook for Gold still remains higher despite its marginal higher close the past week. Further strength is expected to recapture the 1,576.20 level, its 2011 high where a break will resume its long term uptrend and open the door for more gains towards its psycho level at … “Gold Remains Bullish, USD/JPY Under Pressure”
Category: Opinions
Can Further Weakness On Stocks Finally Support The US
The Us dollar was mostly flat against the majors during the Asian hours, but we can already see some strenght now, as European stocks trade lower. Well, trading in this week should be quite interesting, to see how broken correlation between Eur/Usd and the equity market will play out, which was broken in the past … “Can Further Weakness On Stocks Finally Support The US”
EUR/USD Stronger, GBP/USD Struggling – Technical Analysis
EURUSD: Strengthens, Closes In On The 1.4938 Level. EURUSD: A strong rally at the end of week saw the pair cutting through its May 09’2011 high at 1.4441 to close higher for a third week in a row since turning off the 1.3970 level, its May 23’2011 high. This development has put EUR on the … “EUR/USD Stronger, GBP/USD Struggling – Technical Analysis”
US Dollar Index and EUR/USD Technical Analysis
US Dollar Index: Weakens, Sets Up For The 72.69 Level. US Dollar Index: The Index remains bearish following through lower on the back of its Thursday losses during Friday trading session. This development has put the Index on another week of losses and opened the door for additional weakness towards the 72.69 level, its 2011 … “US Dollar Index and EUR/USD Technical Analysis”
EUR/USD and USD/CHF Technical Analysis
EURUSD: Pressured To The Upside. EURUSD: With a reversal of its Wednesday losses seen on Thursday, risk of further strength is likely though hesitating. In such a case, its May 06’2011 high at 1.4586 will be targeted and ultimately the 1.4938 level, its 2011 high. EUR will have to cut through the latter level to resume … “EUR/USD and USD/CHF Technical Analysis”
Higher Usd/Cad Driven By Lower Oil prices
Usd/Cad made a pull-back in recent sessions as expected towards the previous wave (iv) support, shown around 0.9650. From there, pair found the BID as risk-off trade took place yesterday during the US session. In fact, an upward reaction from the most recent 0.9654 swing shows impulsive personality, which is the most important evidence of … “Higher Usd/Cad Driven By Lower Oil prices”
USD/JPY and USD/CAD Technical Analysis
USDJPY: Vulnerable Within Consolidation Range. USDJPY: The pair reversed its Tuesday gains on Wednesday and continues to look vulnerable. However, as long as USDJPY continues to hold above the 80.33/15 levels, risk of a return above the 82.21 level, its May 24’2011 high is likely. A cut through that level will call for further strength … “USD/JPY and USD/CAD Technical Analysis”
The impregnable Swiss franc
Festering doubts concerning the strength of the recovery in major advanced economies such as the US, Japan and the UK are contributing to further strength in the impregnable Swiss franc. Indeed, the Swiss economy continues to deliver positive surprises, as was reaffirmed yesterday. The latest SVME PMI was much stronger than expected last month at … “The impregnable Swiss franc”
GBP/JPY and EUR/USD Technical Analysis
GBPJPY: Maintains Recovery Tone GBPJPY – The cross remains biased to the upside on a corrective recovery breaking and closing slightly above the 134.01 level, its May 11’2011 high on Tuesday. Though it continues to retain its recovery tone triggered from the 130.25 level, it requires a convincing break and hold above the 134.01 level … “GBP/JPY and EUR/USD Technical Analysis”
USD/JPY: Trading the US jobless claims Jun 2011
The weekly US jobless claims always move the markets. In this specific case, it is the last hint before the Non-Farm Payrolls, which are unlikely to be cheerful. Here are the details, and 5 scenarios for USD/JPY, which is a more sound option in the current risk averse environment. Published on Thursday at 12:30 GMT. … “USD/JPY: Trading the US jobless claims Jun 2011”