U.S Dollar strengthened smartly after finding support at 75.50 (Dollar Index-DX) during the last week. The Japanese Yen stabilized against the Greenback and the Common Currency during last week, resulting in the USD appreciating across the board...
USDCAD formed a cycle top at 0.9973 level on daily chart. Deeper decline towards 0.9667 previous low could be seen next week, a breakdown below this level will indicate that the long term downtrend from 1.0672 has...
USDCHF formed a cycle bottom at 0.8922 level on daily chart. Range trading between 0.8922 and 0.9300 would likely be seen in a couple of weeks. However, the bounce 0.8922 is treated as consolidation of downtrend, another...
USDJPY remains in long term downtrend from 124.16 (2007 high), and the bounce from 76.40 is treated as consolidation of downtrend. Another fall is expected next week, and target would be at 78.00 area.
AUDUSD broke above 1.0255 previous high and reached as high as 1.0293. Further rise is still possible next week, and next target would be at 1.0400-1.0500 area. Key support is now at 0.9704, only break below this...
GBPUSD formed a cycle top at 1.6400 level on daily chart. Deeper decline is still possible next week, and target would be at 1.5700-1.5800 area. The fall from 1.6400 is treated as consolidation of uptrend from 1.5344,...
Being contained by 1.4281 resistance, EURUSD pulled back from 1.4248, suggesting that a cycle top is being formed on daily chart. Range trading between 1.3900 and 1.4248 would likely be seen next week. However, the fall from...
Euro rehabilitates.
The Final GDP number will come from the States today, but it is nearly certain that this will not be the main mover of the broad markets on Friday. Investor sentiment finds itself tangled in a whirlwind...
A consensus seems to be forming that risk aversion is returning to the market. Despite the sporadic release of positive data in various parts of the world, the overall trend appears to indicate a slow-down in recovery...
