EUR/USD Analysis (July 28)
The market has drawn a reversal candle yesterday which might signify the end of the bullish trend at least over the short term.
Tag: EURUSD
28th July, 2011 – Daily Forex Report by GFM Research
The US Dollar bounces back after depreciating for 4-5 trading sessions after the Dollar Index (DXU11) hit critical support of 73.40 ranges. Key equity index of the Dow Jones Industrials (DJIA) is trading near important support of...
27th July, 2011 – Daily Forex Report by GFM Research
The Greenback depreciated for the second week amidst possible credit default by the US; there is a possibility that the credit rating of the world’s largest economy may be degraded from current AAA+ rating. It seems the...
EUR/USD Analysis (July 27)
The pair continues to push higher while breaking above its significant daily descending trendline. A confirmation of the breakout would expose 1,46 and then 1,47 (weekly bollinger band).
26th July, 2011 – Daily Forex Report by GFM Research
The Greenback traded flat amidst profit taking in the Dow Jones Industrials, historic correlation between DJIA Vs DX suggests the major trend is still bearish in the Dollar Index though short covering can be expected; only weekly...
EUR/USD analysis (July 26)
The pair has confirmed a bullish bias by breaking above last week high and is now testing a strong descending trendline.
25th July, 2011 – Daily Forex Report by GFM Research
The USD traded flat against most of the majors, historic correlation between DJIA Vs DX suggests the major trend is still bearish in the Dollar Index though short covering can be expected; only weekly close above 76.70...
EUR/USD analysis (July 25)
The EUR/USD has broken and closed above 1,4280 which validates a cup&handle pattern. But the pair is currently testing a strong descending trendline passing by 2 important lower tops in June and July.
EURUSD Analysis – July 23, 2011
EURUSD formed a cycle bottom at 1.3837 on daily chart. Further rise is still possible next week, and next target would be at 1.4600-1.4700 area. Support is at 1.4250, only break below this level will suggest that...
22nd July, 2011 – Daily Forex Report by GFM Research
The USD depreciated for the second trading session against the Euro, the Cable and the Aussie Dollar whereas traded flat against the Japanese Yen and the Swiss Franc. It seems that the all the eyes are Euro...