AUDUSD Analysis – Dec 20, 2008
AUDUSD breaks above 0.7014 key resistance and reaches as high as 0.7140 only. The pair might be forming a cycle top on daily chart. Pullback is expected to 0.6300 zone in a couple of weeks. Initial resistance...
Month: December 2008
GBPUSD Analysis – Dec 20, 2008
GBPUSD breaks above 1.5534 resistance as reaches 1.5722 only. Consolidation in a range between 1.4466 and 1.5722 would more likely be seen in a couple of weeks. Initial support is located at 1.4466, a break below this...
EURUSD Analysis – Dec 20, 2008
EURUSD fails to test the resistance at 1.4867 (Sep 22 high) and pulls back from 1.4719 level, suggesting that a cycle top has been formed on daily chart. Consolidation in a range between 1.3500 and 1.4500 is...
Dollar gains against majors.
Market View for Dec 19, 2008 Today we have witnessed spectacular moves in foreign exchange once again. Today’s market has been a dollar positive across the board, with the dollar regaining ground against the Euro and...
Bearish Dollar Helps Oil Rally
Oil prices rallied in reaction to the record production cuts announced by OPEC, while the Dollar continued to give back the gains it made during the first 3 months of the financial crisis. In turn, the weak...
USDCHF Analysis – Dec 18, 2008
USDCHF dropped sharply in last two trading days, suggesting that the long term up trend from 0.9634 (Mar 17 low) has completed. Deeper decline is still possible to 1.0500 to reach the next cycle bottom on daily...
AUDUSD Analysis – Dec 18, 2008
AUDUSD breaks above 0.7014 key resistance, suggesting that the down trend from 0.9849 (July 15 high) has completed. Further rise towards 0.7500 to reach the next cycle top on daily chart could be seen in next several...
The Fed cuts main U.S rates to record lows.
The Federal Reserve cut the main U.S. interest rate target to a range of 0 to .25% (record lows), surprising markets and giving traders the green light to sell the U.S. Dollar across the board. The Fed...
Dollar Volatility Set to Continue as OPEC Meet Today
The Organization of the Petroleum Exporting Countries (OPEC) is expected to discuss a significant decrease in Oil production later today. A production cut of 2-2.5 million barrels per day could help raise the price of Crude Oil...
USDCAD Analysis – Dec 17, 2008
USDCAD drops below 1.2125 support and reach 1.1986 level, suggesting that the pair is back to range treading between 1.1464 and 1.3015. Deeper decline is expected to test 1.1464 level in next several days, and rebound would...