The markets seemed to have disregarded the German Ifo Business Climate report as the Euro still managed to edge higher over the US dollar in the previous European trades, despite posting a fourth straight decline in August...
EUR/USD attempted to rally during the Monday session, but fell in order to form a shooting star that is sitting just at the 1.25 handle. Looking at this chart, it does in fact look like the downward...
The USD/JPY pair had a very quiet session on Monday, in order to form a very neutral candle. We are sitting on top of support though, and as such it looks like a break to the upside...
The GBP/USD pair attempted to rally during the Monday session, but fell off and managed to break down well below the 1.58 level. This is a very bearish sign as the day is closing out the session...
The AUD/USD pair fell during the session on Monday as the 1.04 level has given way. The market appears like it is one seems to accelerate to the downside, but the 1.03 level should provide some type...
The USD/CAD pair fell during the session on Monday, but managed to bounce in order to form a hammer by the end of the trading day. Interestingly enough, the oil markets looked relatively weak on a day...
Commitments of Traders (COT) Report. Specs continued to buy the Australian and the Canadian Dollars. The aggressive acquisition of these two currencies, plus, to a small extent, the NZ$, almost negates the big positions the specs have...
The euro saw slight gains against several of its main currency rivals yesterday, despite a worse than expected German Ifo Business Climate figure that signaled a possible slowdown in the euro-zone’s strongest economy.
The US Dollar is trading flat after finding support at 81.20 with 82.00-82.30 being interim resistances. Further weakening of the Greenback is expected only on daily close below 81.00 ranges.
With the Euro Zone economy continuing to take a hit from the heightened uncertainty over a way forward for the debt crisis plaguing the region, the Euro is deemed to lose ground opposite the British pound today.
