A Roller Coaster Ride
Last week finished with traders perhaps feeling as if they had been put on a roller coaster and trapped. The USD continued its sudden reversal on the EUR as the Greenback gained value quickly.
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9th May, 2011 – Daily Forex Report by GFM Research
The US Dollar appreciated on the event of short covering across the board. It seems that a short-term low has been posted in the dollar index (DX) in the ranges of 72.85; multi year lows of 71.00...
Daily FX Market Outlook by AceTrader-9-5-2011
Market Review – 06/05/2011 20:13 GMT Euro tumbles after German magazine reports that Greece may exit eurozone Euro tanked broadly again on Friday in New York midday after German Der Spiegel magazine reported that Greece Government raised...
USDCAD Analysis – May 7, 2011
USDCAD broke above the downtrend line on daily chart, suggesting that a cycle bottom had been formed at 0.9444 on daily chart. Further rally is expected in a couple of weeks, and next target would be at...
USDCHF Analysis – May 7, 2011
USDCHF is forming a cycle bottom at 0.8553 on daily chart. Range trading between 0.8553 and 0.9000 would likely be seen in a couple of weeks. However, the price action from 0.8553 would possibly be consolidation of...
USDJPY Analysis – May 7, 2011
USDJPY stays below a downtrend line and remains in downtrend from 85.51. As long as the trend line resistance holds, downtrend could be expected to continue, and next target would be at 78.00-79.00 area. However, a clear...
AUDUSD Analysis – May 7, 2011
AUDUSD dropped sharply from 1.1011, suggesting that the upward movement from 0.9704 had completed at 1.1011 already. Deeper decline would likely be seen after consolidation, and target would be at 1.0300 area.
GBPUSD Analysis – May 7, 2011
GBPUSD had formed a cycle top at 1.6745 level on daily chart. Deeper decline towards the trend line from 1.5344 to 1.5936 would likely be seen next week. As long as the trend line support holds, the...
EURUSD Analysis – May 7, 2011
EURUSD dropped sharply from 1.4939, and broke below the uptrend line on daily chart, suggesting that a cycle top had been formed. Deeper decline would likely be seen after consolidation, and next target would be at 1.4000-1.4100...
Forex-Metal Daily Analysis -06/05/2011
ECB leaves the rates unchanged. Dramatic drop of the euro.