Yen Reaches 15-Year Low
Volatility was high today as the Japanese yen fell to its lowest level in the past 15 years. This has taken place as traders test the resolve of the Japanese government not to intervene in the currency...
Category: Daily Forex Reports
GBP/JPY Elliott wave count and Fibonacci levels, August 25, 2010
According to wave count on hourly timeframe this currency pair is now moving within a strong med term downtrend. All the major waves are impulsive. The targets of the downside movement are Fibonacci expansions off AB waves...
Forexpros.com Daily Analysis – 25/08/2010
ForexPros Daily Analysis August 25, 2010 Euro Dollar The Euro broke the support we specified in yesterday’s report 1.2630, dropping modestly to 1.2586, and stopping clearly before meeting our target at 1.2550. With this new extension to...
AUD USD in Depth
After the 38.2% correction halted the pair’s downside move, the pair rushed to the upside within the short term upside channel; after reaching the channel’s resistance areas around 0.9220 trading reversed normally, yet over daily basis the...
The Dollar Rally According To Fibonacci
EURUSD: The EUR closed below both the 100 day and 50 day moving averages. The candle that caused the fall also initially broke below the 38.2% Fibonacci Retrace level. This level is generated by using the low...
USD – Housing Data Confirms Doubts
Existing Home Sales in the U.S. plunged according to Tuesday’s report and this confirmed ‘whispers’ that had surrounded the number before its release. The USD traded in a stable manner against the EUR and GBP yesterday and...
EUR – Germany & Others Saga Continues
The German GDP was released yesterday and it met its expectation head on with a gain of 2.2%. The EUR lost further ground to the USD Tuesday, but it accomplished this at a slower pace than the...
GBP – Awaiting Friday’s Revised GDP
The Sterling found some stability on Tuesday and this occurred even as the BBA Mortgage Approval numbers disappointed investors with a figure of 33.7k, which was well below the estimate and the previous month’s outcome.
JPY & AUD – Bank Of Japan Speaks Again
The BoJ entered the fray once again saying that it stands ready to act if the JPY continues to get stronger against the USD. It also went out of its way to warn ‘speculators’ that they should...
Major Currencies’ Morning Report 25/ August /2010
EURUSDThe pair pushed to correct the bearish wave mildly, according to the suggested scenario in yesterday’s reports and returned to negatively pressure it to resume trading within the current bearish trend. We notice that momentum indicators have...