The USD/JPY had a fairly quiet day on Monday as traders sold risk, but did not get involved in this pair. The prevailing consensus is that the central banks are obviously watching this pair intently, and as...
We continue to see additional pressure on this pair going forward after a new fail on top of the daily range from last week.
We are starting to see some form of material base on the pair with daily studies rolling over from oversold levels.
The breakout of the daily range has opened the door to additional losses on the pair which continues to print record lows week and week.
After a confirmed break below critical level at 80,00 from last week, the pair has been trading flat for a few days now.
The Pound has been under pressure yesterday breaking below friday’s low and testing 1,60. A break below this support would expose 1,59 which is an appealing target.
The market continues to consolidate above its critical level at 1,40. A break below this support will accelerate towards 1,39 and confirm a bearish bias.
Market Review – 18/07/2011 21:59 GMT Euro drops on continued concerns over debt crisis before recovering Despite the release of better-expected eurozone bank stress-test results last Friday, the single currency fell on Monday as investors continued to...
New wave of concerns over the possible debt crises of Italy and Ireland overwhelmed the market
The fears still dominate the market after the US failed to reach agreement on raising the debt ceiling and the European debt crisis escalated, supporting the haven demand and damping the appeal of higher yielding currencies.
