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Daily Forex Reports |
Written by Kate Curtis |
Tuesday, 21 May 2013 07:07 GMT
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The dollar seems to have retreated from its rallies at the start of this week, as traders may have booked profits off key inflection points for the major pairs. USD/CAD, in particular, has found resistance at the 1.0300 major psychological level.
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Daily Forex Reports |
Written by FX Empire |
Tuesday, 21 May 2013 05:26 GMT
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The USD/JPY pair had a negative session on Monday, falling down to the 102 handle. However, that area did hold and we suspect that there is a significant amount of support in the general vicinity.
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Daily Forex Reports |
Written by FX Empire |
Tuesday, 21 May 2013 05:25 GMT
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The USD/CAD pair fell during the session on Monday, as the 1.03 level offered resistance again. The candle does look rather negative, but it did not wipe out the gains from the Friday session, meaning that we don’t feel that it is negative... |
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Daily Forex Reports |
Written by FX Empire |
Tuesday, 21 May 2013 05:24 GMT
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The GBP/USD pair had a positive showing on Monday, breaking above the 1.5250 level at one point during the session. You can see that the market is hovering right around that area, but quite frankly we suspect that there will be a selling... |
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Daily Forex Reports |
Written by FX Empire |
Tuesday, 21 May 2013 05:23 GMT
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The EUR/USD pair had a fairly strong showing during the session on Monday, as we bounced from the 1.28 support region. Because of this, we may see a bit of strength in the Euro going forward, but certainly will find the 1.30 level as being... |
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Daily Forex Reports |
Written by FX Empire |
Tuesday, 21 May 2013 05:22 GMT
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The AUD/USD pair rose during the session on Monday, to break above the 0.98 handle. However, this market has been sold off so drastically that we are very hesitant to buy the Australian dollar right now.
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Daily Forex Reports |
Written by ETX Capital |
Monday, 20 May 2013 13:52 GMT
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With equities rallying, will the USD lose its position as the "safe haven" of choice?
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Daily Forex Reports |
Written by Kate Curtis |
Monday, 20 May 2013 06:52 GMT
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Ever since AUD/USD breached the 1.0200 major psychological level, it has been on a very strong selloff, even breaking below parity. The trend remains very bearish for the pair and there could be shallow retracements for the week.
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Daily Forex Reports |
Written by FX Empire |
Saturday, 18 May 2013 07:35 GMT
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The USD/JPY pair had a solid showing on Friday, closing the very top of the range. We clear the 103 level finally, and now it appears that the market is ready to continue much higher.
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Daily Forex Reports |
Written by FX Empire |
Saturday, 18 May 2013 07:34 GMT
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The USD/CAD pair had a smashing day on Friday as it took off to the upside gaining almost 130 pips. Looking at this candle, it’s obvious that the market is bullish, but the 1.03 level did of course offer significant resistance.
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