ForexPros Daily Analysis July 7, 2010 Fundamental Analysis: ECB Press Conference European traders anticipate the ECB Press Conference. The European Central Bank holds this monthly press conference about 45 minutes after the Minimum Bid Rate is announced....
The pair continues to trade within the medium term descending channel; and as provided on the daily chart above, the last attempt to the upside hit the 61.8% Fibonacci correction which turned into resistance now at 135.75.
The rather bad economic data from the States continued on Tuesday with the ISM Non Manufacturing PMI reading. The outcome of 53.8 compared to the estimate of 55.1 certainly didn’t help overall investment sentiment.
Tuesday was a light day of releases from the European Union and the EUR was able to turn in stable trading. Today the E.U. will release its Final GDP and a small gain of 0.2% is the...
Sterling traded in a calm range on Tuesday without any major economic data coming forth. Today will remain quiet from the U.K., but this will change tomorrow when the BoE will release their monthly monetary policy decision.
As Asian bourses moved lower yet again, the JPY continued to find momentum and gain on the USD. The Japanese economy remains mired in troubled waters, but this has not stopped investors from using the Yen as...
EUR/USD The EUR/USD hovered around seven-week highs this morning against the greenback as traders cut long positions in the Dollar amid rising concerns for the U.S. economic recovery.
GBP/USD Open 1.5139 High 1.5226 Low 1.5081 Close 1.5148 On Tuesday Pound/Dollar was trading upwards, not matching the negative Interbank sentiment at nearly -1%. The Cable appreciated from 1.5081 to 1.5226 yesterday, closing the day at 1.5148....
EURUSDThe pair was able to surpass 1.2600 to achieve its highest level yesterday around 1.2660, but due to the negative pressure on the pair to attempt some bearish correction; therefore we can expect to build a base...
Crude inclined, touching 50% Fibonacci correctional level that has turned into resistance after it has previously been breached, but will lead to a quick descend to trade once again within the mentioned bearish channel in yesterday’s reports below 61.8% Fibonacci.
