Euro/Dollar: Though the pair is hesitating, it continues to hold above the 1.4519 level and trade within its rising channel. This suggests that further upside gains are likely to be seen towards the 1.4681 level, its Dec 12’2010 followed by the 1.4800 level and then the 1.4902 level, its Dec 06’2009 high. Guest post by www.fxtechstrategy.com … “EUR/USD – Bullish Within Price Channel”
Category: Opinions
GBP/USD Set For More Gains After Breaking Out Of
The pair has convincingly broken out of its sideways trading range to the upside following many weeks of being trapped there. This technical development has opened up risk of further strength towards the 1.6720 level, its Nov 11’2011 high. Guest post by www.fxtechstrategy.com A clean break and hold above there will set the stage for … “GBP/USD Set For More Gains After Breaking Out Of”
EUR/JPY Recovers Higher
EURJPY is on a second day of recovery following its recent corrective weakness. However, we will like to see it return above the 123.29 level, its 2011 high to convince the market it has ended that correction. Guest post by www.fxtechstrategy.com This will resume its medium term uptrend towards the 124.00 level. Further price extension … “EUR/JPY Recovers Higher”
Greek Default to Start Huge Credit Crunch?
There’s a rumor in the market about Greece “restructuring” its debt over the weekend. The Euro currently shrugs it off. But an unprecedented default in one of the Euro-zone countries is could have huge implications. Will this start a bigger snow ball than the Greek bailout? The whole European banking system is endangered and the … “Greek Default to Start Huge Credit Crunch?”
Recovery in risk appetite thwarts the dollar
After a sharp flight from risk on the first day of this week, investors rapidly recovered their poise yesterday and again overnight. Decent manufacturing and services PMI data out of Germany and France, better-than-expected housing news from the US, and strong earnings news from the likes of Intel and IBM helped placate fears that the … “Recovery in risk appetite thwarts the dollar”
EURUSD: Breaks Below Rising Channel, Vulnerable
EURUSD: The pair has put its broader uptrend on hold after declining through its rising channel in place for about three months. This technical development has opened up risk to the downside with eyes on the 1.4061 level, its April 01’2011 low. Guest post by www.fxtechstrategy.com A trade below that level will call for a … “EURUSD: Breaks Below Rising Channel, Vulnerable”
AUD/USD: Trading the PPI Release
Australia’s quarterly release of its Producer Price Index is due on April 21st, at 1:30 GMT. The frequency of this release in a world of rising inflation makes it of high importance, no matter the outcome. Here are the details and 5 scenarios for the outcome and AUD/USD reaction. Indicator Background Contrary to most countries, … “AUD/USD: Trading the PPI Release”
USD/JPY – Trading the US Existing Home Sales
The existing home sales figure, published on April 20th at 14:00 GMT, is the widest measure for the American housing sector. The publication shakes the dollar across the board, with USD/JPY being the most sensitive barometer. Here’s what’s expecting us, with 5 possible outcomes. Background The US manufacturing sector is growing. So is the services … “USD/JPY – Trading the US Existing Home Sales”
GBPJPY Set To Extend Weakness
GBPJPY – With the cross capping gains and tumbling off the 139.90 level to wipe out its past previous week gains and close lower, further weakness is now likely as we enter a new week. Guest post by www.fxtechstrategy.com Although this is a correction of its rally from the 122.40 to 139.99 levels, any further weakness … “GBPJPY Set To Extend Weakness”
USD/JPY Faces Further Downside Pressure
USDJPY: The pair’s corrective weakness remains in place as it continues to face bear threats. Despite this, USD/JPY is still biased to the upside in the short term. Guest post by www.fxtechstrategy.com For the pair to reverse its current corrective weakness and resume its uptrend, the pair will have to break and hold above the 85.49 … “USD/JPY Faces Further Downside Pressure”