The daily chart above shows how trading for the pair has been constructed within the ends of a bullish “Falling Wedge” pattern; the pair is approaching its resistance at 1.6800 though by assessing momentum indicators we can...
ForexPros Daily Analysis May 27, 2010 Fundamental Analysis: Chicago PMI Traders of the US anticipate the publication of the Chicago PMI. The Chicago Purchasing Managers Index determines the economic health of the manufacturing sector in Chicago region.Any...
Upcoming Sessions (all times GMT)• GBP CBI Realized Sales (10:00)• USD Preliminary GDP (12:30)• USD Unemployment Claims (12:30)
GBP/USD Open 1.4381 High 1.4535 Low 1.4337 Close 1.4386Pound/Dollar traded hesitantly on Wednesday, in converse with negative Interbank sentiment at nearly -59%. The Cable was moving within the narrow 1.4337 – 1.4448 range, closing the day at...
GBPUSD: The Pound has begun to consolidate at 1.44. Notice the last several down candles have all had long lower wicks. The implication is that Sellers are forcing price down but there are enough buyers in the...
Crude Oil Crude succeeded in achieving yesterday’s suggested scenario breaching the neckline at 70.95 and continued to steadily trade within the current ascending channel shown above…..
EURUSD The pair succeeded in achieving the suggested scenario yesterday flawlessly, but main support had descended to 1.2150 maintaining a strong stance in front of achieving more downside movement. Currently accompanying it would be positive signs appearing on Stochastic that...
Renewed debt concerns among the Euro-zone countries sent the single currency spiraling down yet again in overnight trading. EUR/USD dropped well below the 1.2200 level, approaching a 4-year low. Today, traders can expect a number of U.S....
EUR/USD Open 1.2171 High 1.2340 Low 1.2153 Close 1.2181After a partial correction, the Euro continued weakening on Wednesday, as expected. Euro/Dollar depreciated from 1.2340 to 1.2153 yesterday, in line with the Interbank sentiment projection, at around -10%,...
Market Review – 26/05/2010 21:20 GMTEuro weakens on European debt woes and China repositioning fearsThe euro declined across the board for 3 consecutive days on persistent European debt woes while a surprisingly poor demand for German bonds...
