After a very impressive decline which lead the pair below parity (1000 pips within a few days), we did see the market bouncing significantly during the last trading session.
After a sharp rally which confirmed a potential long term reversal, the pair has found some great resistance ahead of parity which was expected.
The pair has accelerated its move to the downside very quickly yesterday after Fed Charman speak. It has made a new record low at 0,7070.
The pair has come back to its value from before the BoJ intervention which didn’t have the impact expected as often.
The pair has been under intense pressure yesterday testing and bouncing on 1,62 corresponding to the bottom of an intraday descending channel.
After Fed Chaiman Bernanke rather dovish statement, the EUR/USD has found renewed strengh to test again its descending trendline. 1,44 is now a clear resistance to deal with.
S&P downgrades the US credit rating.
ForexPros Daily Analysis August 09, 2011 Euro in Short, Pound Still In Range, Yen Near All Time Lows Euro: On the daily, the euro continues in shorts, albeit in messy setups. Setups are technically being broken, so...
The USD/CHF pair fell on Monday, but managed to bounce a bit towards the end of the session as the Dollar got a little bit of a bid at the 0.75 level. The pair is in a...
USD/CAD rose yet again on Monday as the oil markets continue to fall. The oil markets control the fate of the CAD, and as the Light Sweet Crude market is sitting right at $80 – we can...