EUR/USD Analysis (October 24)
With a break above the high of October 17 (1,3914), the pair has confirmed a bullish bias over the short term.
Category: Daily Forex Reports
EUR/USD Meets Technical Resistance at 1.3900
The EUR/USD rose last week following the completion of a long-term consolidation trend, reaching a 4-day high of 1.3900. This morning, however, the pair bounced off the resistance level and is now trading near 1.3865.
USD/CAD Technical Analysis October 24, 2011
USD/CAD fell on Friday and tested the parity support level in the process. The daily close is looking weak, but the level has held up. The market will be highly correlated to the oil markets
AUD/USD Technical Analysis October 24, 2011
AUD/USD rose during the Friday session as the world awaits the results of the EU meetings over the weekend. The Aussie is a barometer of global risk, and it fared quite well as a result of the...
USD/CHF Technical Analysis October 24, 2011
USD/CHF fell again on Friday as investors sold off the Dollar against everything in response to the anticipation of the EU bailout meetings over the weekend.
GBP/USD Technical Analysis October 24, 2011
In a surprising show of strength, the GBP/USD pair broke above the resistance area at 1.58 on Friday. The level had been keeping the market down, and as such the market popped after it gave way.
USD/JPY Technical Analysis October 24, 2011
The USD/JPY pair spiked lower on Friday and even managed to peak below the 76 handle. The area has been massive support, and as such – repelled the surge eventually.
EUR/USD Technical Analysis October 24, 2011
EUR/USD rose again on Friday as traders anticipated some grand plan coming out of the EU over the weekend. The fact that it couldn’t break out of its trading range shows just how little faith there actually...
British Economy Posting Strong Gains this Week
The Great Britain pound (GBP) is expected to be seen trading with mildly bullish results this week after reports on the country’s retail sales and inflation revealed a solid uptick this past month.
AUD/USD Technical Analysis October 21, 2011
The AUD/USD pair had a wide range during the Thursday session as the global markets continue to go back and forth on headline news and general fears of European debt issues. The candle is another doji, suggesting...