AUDUSD has formed a cycle top at 1.0624 on daily chart. Further decline would likely be seen next week, and the target would be at 1.0200 area. However, the price action from 1.0612 is treated as consolidation...
After touching 1.6301 resistance, GBPUSD pulled back from 1.6309, suggesting that consolidation of the uptrend from 1.5393 is underway. Range trading between 1.6100 and 1.6309 would likely be seen in a couple of weeks. Support is at...
EURUSD has formed a cycle top at 1.3171 on daily chart. Range trading between 1.2750 and 1.3171 would likely be seen in a couple of weeks. Support is at 1.2750, as long as this level holds, the...
Market review for 27.09.12: The positive came back on markets. The budget plan of Spain met country-specific recommendations. Asian and European trading sessions:
Concerns regarding Spain and Greece’s ability to tackle their debt issues caused the euro to extend its recent bearish trend throughout the day yesterday.
In the previous European trading session, the Euro lost versus the British pound after the Spanish government revealed economic reforms which are deemed by many as the initial step before it requests for bailout from the Euro...
The USD/JPY pair fell during the session on Thursday, but remained above the 77.50 level. This market is currently being buoyed by the Bank of Japan, and as such we are not willing to sell it. Yes,...
The USD/CAD pair fell during the session on Thursday, in order to retest the 0.98 level for support. So far, it has found it but it should be suggested that the overall trend is certainly to the...
The GBP/USD pair rose during the session on Thursday after printing a nice-looking hammer on Wednesday. We have suggested that the 1.62 level was going to be rather supportive, and as such this move really didn’t surprises.
The EUR/USD pair fell originally during the Thursday session, but bounced in order to form a hammer centered around the 1.29 level again. This is the second day in a row we have seen this, and as...
