EURUSD Analysis – June 20, 2009
EURUSD has formed a cycle top at 1.4338 level on daily chart. Further fall is now in favor and the next target would be at 1.3500 zone. Near term resistance is at the falling trend line on...
Author: ForexCycle.com
Philly Fed Manufacturing Index Boosts Dollar
The Philly Fed Manufacturing Index and a string of other positive U.S. data boosted the Dollar yesterday. This marks a turnaround for the U.S., as there is increasing optimism that the current recession will be over sooner...
U.S. Unemployment Claims Data to Drive USD Trading Today
The market is set to go increasingly volatile today on the publication of U.S. Unemployment Claims at 12:30 GMT and the Philly Fed Manufacturing Index at 14:00 GMT, and Treasury Secretary Timothy Geithner’s speech at 13:30 GMT...
British Pound May Dominate Today’s Market
As the USD shows unclear signals about where it is heading, and the EUR appears to be following the lead of the greenback, the market’s primary currencies seem to be confusing the bulk of forex traders. On...
Return to Risk Aversion over Negative U.S Data
The USD and JPY regained their status as safe-haven currencies after the release of worse than forecasted economic data from the Empire State Manufacturing Index and TIC Long-Term Purchases reports and a subsequent return to risk aversion....
EURUSD Analysis – June 16, 2009
EURUSD breaks below 1.3793 key support, suggesting that a cycle top has been form at 1.4338 level on daily chart and the uptrend from 1.2884 has completed. Deeper decline is now in favor and first target would...
Dollar Up as Russia Sees No Other Alternative to the U.S. Currency
The EUR came under selling pressure against the greenback on Monday after the UK Daily Telegraph reported on its website that Germany’s top industrial group has warned that Germany’s credit crunch is deepening. The dollar also drew...
Tread the untrodden path to make more money
They say if you walk the same path as others do, you reach the same destination. People succeed enormously by doing things differently and not by doing different things that others do.
Anything called the Best strategy for trading?
Ever been able to listen to anything when there is a lot of noise? Ever been able to think clearly when there is a rock band playing? Ever been able to speak or be heard over a...
USDCAD Analysis – June 13, 2009
USDCAD is forming a cycle top at 1.1289 level on daily chart. As long as 1.1289 resistance holds, we’d expect the downtrend to resume and further fall towards 1.0400 zone is possible. However, above 1.1289 level will...