The Dollar Index (DXM11) after taking support at 73.50 ranges, recovered beyond 74.50 ranges to currently trade at 74.80; DXM11 may trade sideways with 73.40 acting as very important support; only weekly close below 73.40 would result...
Wall Street was brutalized on Friday before going into the weekend. Risk adverse trading finished the day with investors essentially looking for protection. The USD gained versus the EUR and GBP and finished in the middle of...
Traders this week are bouncing back and forth between an interest rate differential approach, which favors the EUR, and a debt concern approach which favors the USD. Both carry an ominous overtone for the global economy. Whichever...
06/12/2011 21:22 UTC NZD swings lower as it weakens against the USD, JPY, EUR, CHF and CAD. Recent mid-term strength indicator reading for NZD is 7 out of 8, thus suggesting that the current swing may be...
Please find hereafter our daily update on the majors as of June 11th 2011. (Click on the dedicated link to access our forum post with the chart).
USDCAD stays above a uptrend line on daily chart, and remains in uptrend from 0.9444. As long as the trend line support holds, uptrend could be expected to continue and further rise to 1.0000 area could be...
USDCHF stays below a downtrend line from 0.9774 to 0.9339, and remains in downtrend. Further fall is still possible in a couple of weeks, and next target would be at 0.8000-0.8100 area. Resistance is at the downtrend...
USDJPY is now facing the 79.58 support, a breakdown below this level will confirm that the downtrend from 85.51 has resumed, then next target would 78.00 area. On the upside, as long as 79.58 level holds, the...
AUDUSD is in downtrend from 1.1011, the price action from 1.0440 is treated as consolidation of downtrend. Deeper decline would likely be seen next week, and next target would be at 1.0350 area. Resistance is at 1.0773,...
GBPUSD’s bounce from 1.6059 reached 1.6546 only, the subsequent fall would possibly be resumption of downtrend from 1.6745. Deeper decline to re-test 1.5936 support would likely be seen in a couple of weeks. Key resistance is at...
