Forexpros.com Daily Analysis
· USD consolidates· Mixed against the majors· UK data boosts GBP
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Record High Oil Prices Oppress the Usd
Yesterday the greenback was bearish against its rival currencies, continuing its decline from the beginning of the week. Throughout the trading day, the EUR\USD was being traded just under 1.5800, the GBP\USD reached 1.9730 and the USD\JPY...
Crude Oil Inventories 0.2M – Morning Session – GMT
Overnight Asia/Europe •USD weakens further•IFO better-than-expected•MPC votes 8-1 to keep rates unchanged Today’s Economic ReportsAll times EASTERN (-5 GMT)•10:30am Crude Oil Inventories 0.2M•1:00pm Fed Governor Warsh Speaks •2:00pm FOMC Meeting Minutes Looking AheadAll times EASTERN (-5 GMT)•8:30am USD...
USDCAD Analysis – May 21, 2008
No changed in our view, USDCAD is forming a sideways consolidation in a range between 0.9709 (Feb 28 low) and 1.0378 (Jan 22 high). Pullback to retest 0.9709 support is expected in the next few days. Key...
USDCHF Analysis – May 21, 2008
As expected, USDCHF broke below the key support at 1.0388 and formed a cycle top at 1.0623 on daily chart. Deeper decline to retest 0.9870 is expected in the next few days. Key resistance is now at...
USDJPY Analysis – May 21, 2008
USDJPY remains in range between 102.58 and 105.70, and is forming a sideways consolidation to the up trend. As long as 102.58 key support holds, we’d expected up trend to resume and further rise to 108.00 to...
AUDUSD Analysis – May 21, 2008
AUDUSD is in up trend. Further rise to 1.0000 area is expected after consolidation. Initial support is at the up trend line from 0.8953 to 0.9291, and followed by 0.9275, as long as 0.9275 support holds, up...
GBPUSD Analysis – May 21, 2008
GBPUSD broke above 1.9633 key resistance and formed a cycle bottom at 1.9363 on daily chart. The pair is back to range trading between 1.9337 (Jan 22 low) and 2.0391. Further rally is expected to test 2.0029...
EURUSD Analysis – May 21, 2008
EURUSD formed a cycle bottom at 1.5284 on daily chart. Further rally may be expected in the next several days, and the next cycle top would be at 1.5800 area. However, the rise from 1.5284 would possibly...
Forexpros Daily Commentary
USD sharply lower – Morning Session – GMT