We have not witnessed any four-hour closing Below The support level at first 3515, while the pair rebounded to the upside after Reaching this level to confirm That the Breach of the main resistance of the downside trend is still affecting the pair Positively and changed the trend over intraday basis. Stochastic
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The U.S. dollar reversed Earlier Losses and firmed Against all of the G10 EXCEPT Against the JPY as traders Shifted Into Reverse safe havens. The relief rally was Unable to Extend gains in risky assets as equities declined and the high beta Currencies NZD, AUD, and CAD were the worst
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www.pillartrading.com The Dollar vs. the Yen looks set to break new lows if the short term levels continue to act as resistance. Price is now sitting just above major profit taking areas for long term Bears in this market and we may start to see some covering should we move closer to those targets. As of right now there are no bullish set ups on any of the time frames so until we see a breakdown we have our eyes on the 81.50 area.
Every weekend generated large ‘announcement risk’ at any time we Could get the announcement of some ‘grand plan’, or combi-nation of plans, Designed to finally stem the flow of blood from the Eurozone debt crisis wound, or maybe That Greece hock defaulted and maybe even left the Euro. In
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USD soft Against most majors but Stronger Against the Commodity Currencies (AUD, CAD, NZD). The Dollar Index is testing The Daily Tenkan line Which is Currently around 77th 50 and Likely to Be a pivotal level. Continued optimism out of Europe seeing risk appetite gain, however the recent rally in sentiment
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That fundamental data released about the Australian economy Confirmed That Australian is one of the most countries That speed probability to face the global financial crisis with solid rock of Low Unemployment, a strong banking system and big investments.
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The U.S. dollar remained on the back foot as the risk rally Continued with European stock markets closing sharply to the upside on optimism That EU Officials Can Come to an agreement ‘Towards a Solution for the region’s debt crisis. The Germantown DAX closed higher by about +5. 29% and France’s CAC
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USD Continues to Trade on the back foot as risk appetite is supported by hopes of enhancements to the EFSF. The buck is weak Against all of the G10 with the exception of the yen and weakest Against the high beta Currencies NZD and AUD. Global equities are significantly higher and
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The single European currency was given a Reprieve today as it suffered a risk higher on the hopes That the Euro Zone Will fortify ITS SAFETY NET by Increasing the current European Financial Stability Facility, more commonly Referred to as the ESFS. An ECB board member mentioned That the current 440
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EUR / USD hock seen a sharp decline in recent weeks as Eurozone sovereign debt Concerns, slowing growth Outlook and dovish ECB Rhetoric Have all weighed on the common currency. The USD hock Also benefitted from an overall flight to safety in light of global stock and commodity market decline. On the
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