EUR GBP in Depth
The pair reached the support for the descending channel organizing the downside correctional wave which started with the brea ch of the support for the general upside trend, starting from the recorded top at 0.9148.
Category: Daily Forex Reports
USD – Bounce In Equities Spurs Risk
The USD lost ground to the EUR on Wednesday as equity markets bounced higher and traders took advantage. There was no major economic data released from the U.S. yesterday and with a certain amount of stability being...
EUR – Trichet To Deliver His ‘Wisdom’ Today
The EUR gained strongly against the USD on Wednesday on a day without any major surprises from economic data. Today the ECB will hold it monetary policy meeting. It is clear that there will be nothing done...
GBP – Plenty Of News And Data For Sterling Today
The Sterling performed well on Wednesday as it continued to sail smoothly in the midst of austerity ‘merriment’ and better EUR centric sentiment (read stability). There were no releases of significant data from the U.K. yesterday, but...
JPY – Asian Bourses Produce Risk Appetite
The JPY gave back some of its gains on Wednesday as risk appetite within the Asian bourses created some breathing room and allowed the Yen to weaken against the USD. Safe haven trading slackened as equities gained...
Daily Forex Analysis by Finexo.com 08/07/2010
Today is a busy day with both the European Central Bank and the Bank of England scheduled to release statements regarding their interest rate decisions.
GBP/USD 1.5202 – 8 July 2010
GBP/USD Open 1.5174 High 1.5241 Low 1.5081 Close 1.5186 On Wednesday Pound/Dollar resumed rising after recording an insignificant correction, not exactly, however, matching the small Interbank sentiment at nearly +0.05%.
Major Currencies’ Morning Report 08/ July /2010
EURUSD The pair was able to achieve yesterday’s awaited ascending actions to touch the primary target around 1.2670, where it continues to move within the minor bullish channel shown in the image below.
Crude Oil Morning Report 08/ July /2010
Crude strongly pushed to the upside yesterday to retest the previously breached neckline for the bearish technical pattern at 75.15, effected by the positivity appearing on momentum indicators yesterday, in addition to breaching the bullish technical pattern’s...
Euro Reaches 7-week High Against USD
EUR/USD has remained at or near its 7-week high throughout overnight trading, as investor confidence in the 16-nation currency continues to rise. Currently trading around the 1.2665 level, the pair’s next major resistance line is around 1.2676....