U.S. economy – brief outlook.
On Tuesday we experienced two highly important data releases that came from States. Namely, annualized Gross Domestic Product in the third quarter and also annualized Existing Home Sales.
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USDCAD Analysis – November 27, 2010
USDCAD traded in a range between 0.9977 and 1.0378. Another rise towards 1.0378 key resistance would more likely be seen next week, a break above this level will bring price further to 1.0600 or even higher. Support...
USDCHF Analysis – November 27, 2010
USDCHF’s bounce from 0.9463 extended to as high as 1.0053 level. Further rally is still possible next week and next target would be at 1.0200-1.0300 area. Support is at 0.9850, only break below this level could bring...
USDJPY Analysis – November 27, 2010
Being contained by 79.75 (1995 low) support, USDJPY rebounded from 80.30, and the bounce has extended to as high as 84.18, suggesting that the downward movement from 94.98 has completed. Further rally is expected and next target...
AUDUSD Analysis – November 27, 2010
AUDUSD broke below 0.9651 key support, suggesting that the uptrend from 0.8066 has completed at 1.0182 level already. Deeper decline is now in favor and next target would be at 0.9300-0.9400 area. Resistance is at 0.9800, as...
GBPUSD Analysis – November 27, 2010
GBPUSD broke below 1.5649 key support, suggesting that the uptrend from 1.4230 has completed at 1.6298 already. Deeper decline towards 1.5296 support could be seen next week. Resistance is at 1.5850, as long as this level holds,...
EURUSD Analysis – November 27, 2010
EURUSD broke below the rising price channel on daily chart, signaling a change in trend. Bearish movement is expected to continue next week and next target would be at 1.3000 area. Resistance is at the downtrend line...
Candlestick analysis of the AUD/USD (long-term outlook)
Currency pair AUD/USD moves down aimed at 0.9646. On the whole, long-term outlook remains bullish as the uptrend is still taking place. However, it is recommended to close long-term positions in case of the support level 0.9646...
Europe & The Koreas Being Watched
As expected Thursday’s trading was rather muted as the United States celebrated Thanksgiving effectively taking a massive amount of volume out of the markets. Friday will start basically in the same ranges that the markets have seen...
Head and Shoulders Reversal for Gold?
A potential bearish chart pattern signals a drop in the price of gold.