Swiss Franc Breaks Through 8200 – 8150 and 8275 Levels of Interest
60 Minute Bars Prepared by Jamie Saettele, CMT I wrote Friday that the USDCHF is closing in on its 2011 trendline. The trendline is at 8015 today. A look at short term wave structure suggests that new lows are around the corner. However, expect the drop to complete 5 waves down from the 8520 high and give way to a major reversal. The rally to 8520 completed a triangle and triangles precede the …
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Dollar Light on Data, Heavy on QE3 and Downgrade Speculation
Some would consider this past week’s close a boon for the dollar because the selling pressure eased up into the close. In reality, the drop in volatility is neither beneficial nor detrimental to the currency.
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Forex: AUD/USD under pressure in Asia
FXstreet.com (California) – For a second consecutive day, the Australian dollar continued its decline against the Greenback on Monday, extending its decline to lows below 1.0630 after retreating
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FOREX-Euro drops again; China adds to global growth risk
* China rate hike, Moody’s downgrade weigh on euro * Euro bears wary ahead of ECB meeting * Friday U.S. jobs data could sway dollar sentiment (Updates prices, adds details) NEW YORK, July 6 (Reuters) …
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British Pound Trading Heavy – Bearish Bias Warranted Against 16140
Daily Bars Prepared by Jamie Saettele, CMT The GBPUSD has broken below its trendline fro m the 2010 low and confirmed a head and shoulders top. Using the traditional head and shoulders measuring technique yields an objective near 15250 (distance between head and neckline subtracted from point of neckline break), which is near the late 2010 low of 15350. Recent strength is viewed as corrective …
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FOREX: US Dollar Drops as Expected – Where to From Here?
The US Dollar dropped as expected after Greece passed an austerity plan, opening the door for further EU/IMF aid, but the pullback is likely temporary.
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US Dollar Nears Short Term Trendline Support
240 Minute Bars Prepared by Jamie Saettele, CMT The near term analysis for the US dollar is the exact opposite of the EURUSD. A triangle appears to be unfolding. The implications are bearish. Expect weakness to extend to short term trendline support near 74.00 before a rally attempt in wave E. Like the EURUSD, there is an alternate count that treats the triangle as complete. Near term resistance …
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U.S. trade deficit narrows unexpectedly in April
Forex Pros – The U.S. trade deficit narrowed unexpectedly in April, official data showed on Thursday. In a report, the U.S. Bureau of Economic Analysis said that the U.S. trade deficit
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Online Forex Broker Tadawul FX Wins Excellence Awards at 2011 IB Times Trading Awards
LIMASSOL, Cyprus, June 6, 2011 /PRNewswire/ -Tadawul FX Ltd, a Leading European Online Forex Broker Offering Forex, CFDs and Commodities Trading is Pleased to Announce That it has Received two Excellence Awards for Islamic Forex Broker and …
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FOREX TREND MONITOR: Markets Turn Spotlight on US Jobs Report
EURUSD: Euro Continues to Track S&P 500 Ahead of NFP GBPUSD: Pound Likely to Follow Inflation Expectations Lower USDJPY: Interest Rate Outlook Remains in Focus for the Yen CAD, AUD, NZD: Investor Sentiment Still Key for Comm Bloc
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