In the previous European trading session, the Euro declined versus the British pound as recent enthusiasm for the former waned, following comments from German Chancellor Angela Merkel supporting the statements of European Central Bank President Mario Draghi.
The US dollar hit a five week high against the Japanese yen on Friday, amid an increase in optimism in the US economic recovery highlighted by a better than expected US consumer confidence figure.
The EUR/USD pair fell during most of the session on Friday, but did manage to bounce in order to form a hammer. We are currently hugging the uptrend line of a rising wedge, and as such we...
The USD/JPY pair had another bullish session on Friday as the market plowed into the 79.50 level. We have recently broken out above consolidation and it appears that the market is dead set on running to the...
The GBP/USD pair fell during the Friday session as the 1.57-1.58 area continues to hold back the advances of the buyers. However, as you can see over time we have generally ground our way higher in this...
The AUD/USD pair had a very significant fall during the Friday session as the 1.05 level gave way. This was a strikingly strong move, but it should be mentioned that we are approaching the uptrend line of...
The USD/CAD pair rose during the Friday session as the 0.9850 level acted as support. The result of this was the printing of a hammer for the weekly candle, and it does look like we are going...
German Chancellor Angela Merkel seemed to have done something significant for the Euro Zone as market sentiment was lifted because of her statement conveying support for the European Central Bank’s plan to intervene in the bond markets.
There seems to be a disconnect between the economic news and market action. Specifically, the action of the Spanish IBEX 35 Index, today up 2.09%, and the Italian FTSE MIB Index up 1.08% seems to contradict economic...
USD/JPY had another good session on Thursday as the Yen continues to weaken. Looking at the charts, we have the breakout once we rose above the 78.75 level, and if you have been watching you know that...
