The U.S dollar gained ground Wednesday against the EUR and the British pound, after strong data on orders for new U.S.-made durable goods and new home sales comforted expectations of an improvement in the economy. The greenback...
Later afternoon trading saw the price of Crude Oil take a nose dive as traders took profit. The price of Oil stalled at the $75 resistance level and fell significantly following the failed breach. Today traders will...
EUR/USD – Range Bound The pair continues to trade within a range starting a few days ago. Support is established at 1.4280 and 1.4250 (and just below). Breaks below these levels indicate further selling. Target for a...
Today’s U.S. Consumer Confidence data release is set to dominate the trading between the Dollar and its major currency pairs. A number of other factors are also likely to impact the forex market today, such as the...
Euro Dollar Support is currently at a 1.4280 and a break below is expected to target 1.4200. The target, and support, beyond is at 1.4170.Short-term trend line resistance is at 1.4320. A break above indicates a move...
Last week marked a sharp drop in the Dollar’s value, especially against the EUR and the CHF. The biggest question for this week is whether the Dollar will continue to see bearish trends against the major currencies,...
Euro Dollar Some minor support and resistance levels have developed. A break of those levels is likely to set the tone for the day. A rise above 1.4360, especially if confirmed by a push above 1.4375, indicates...
USDCAD formed a cycle bottom at 1.0632 level on daily chart and is now in uptrend. The fall from 1.1124 is treated as consolidation of uptrend. As long as 1.0632 support holds, we’d expect uptrend to resume...
USDCHF breaks below 1.0562 previous low and reaches as low as 1.0553 level. Deeper decline is still possible next week and target would be at 1.0450 zone. However the price action from 1.0590 is more likely consolidation...
USDJPY has formed a cycle top at 97.78 level on daily chart and the fall from 97.78 is treated as resumption of downtrend from 101.43. Deeper decline to test 91.73 is expected in a couple of weeks,...
