AUDUSD stays in a trading range between 0.7827 and 0.8263. The price action in the trading range is treated as consolidation of uptrend from 0.6284. One more rise towards 0.8500 would more likely be seen after consolidation...
GBPUSD stays in a trading range between 1.5801 and 1.6662. The price action in this range is more likely consolidation of uptrend from 1.3654. Further rally is still possible after consolidation and a break above 1.6662 level...
EURUSD has formed a cycle top at 1.4338 level on daily chart. Further fall is now in favor and the next target would be at 1.3500 zone. Near term resistance is at the falling trend line on...
The Philly Fed Manufacturing Index and a string of other positive U.S. data boosted the Dollar yesterday. This marks a turnaround for the U.S., as there is increasing optimism that the current recession will be over sooner...
The market is set to go increasingly volatile today on the publication of U.S. Unemployment Claims at 12:30 GMT and the Philly Fed Manufacturing Index at 14:00 GMT, and Treasury Secretary Timothy Geithner’s speech at 13:30 GMT...
EUR/USD The last three days have seen the EUR march higher. This has created a short term uptrend. Support is at 1.3910, with trend line support at 1.3860, and beyond that 1.3820, 1.3800.
EUR/USD Pulls Off Lows The pair pull off the early lows set yesterday. The 1.3750 level held on the downside but the 1.3935 area also held on the upside.
As the USD shows unclear signals about where it is heading, and the EUR appears to be following the lead of the greenback, the market’s primary currencies seem to be confusing the bulk of forex traders. On...
The USD and JPY regained their status as safe-haven currencies after the release of worse than forecasted economic data from the Empire State Manufacturing Index and TIC Long-Term Purchases reports and a subsequent return to risk aversion....
EUR/USD Breaks Support The pair broke below the 1.3800 level. A sustained break of this level points to a further decline in the rate as indicated by the topping pattern. So far the pair has managed to...
