In the early stage of the week, we did see the pair confirming its bullish momentum while reaching its psychological 80,00 level i.e. 200 pips above last week close.
The pair is still under pressure but continues to hold above its historical low at 76,30.
The pair continues to evolve in a long term trading range between 1,59 and 1,67 but it has confirmed a short term bullish bias after a break above 1,63 yesterday.
Monday’s price action was very interesting as we did see a break and close above the strong daily descending trendline. This breakout opens the door to next target at 1,47 (weekly bollinger band).
Greetings. Let’s pull up the NZD/JPY hourly chart. We saw a nice move down since early August and we’re now in what appears to be a retracement back up.
Market Review – 15/08/2011 22:00 GMT Euro rallies on risk appetites and dollar’s broad-based weakness The single currency rallied to a three-week high against the greenback Monday on risk appetite and dollar’s broad-based weakness as investors hoped...
ForexPros Daily Analysis August 15, 2011 Euro in Range, Pound In Next Short, Yen Flirting With Lows Euro: On the daily looks to be in a range between 1.44 and 1.405-1.4125. It has just broken the short...
Sentiment across the euro zone has turned negative, with many analysts and economists expecting moves towards safety by traders this week. Any more bearishly-leaning news out of any major global economy will likely pull down on the...
The pair is pulling back after the last 2 weeks sharp decline with an attempt below parity which offered a great support as expected.
The pair has validated a weekly double bottom formation which might result in a major long term reversal if a break above parity is confirmed over the coming sessions.