Update Time: 02 Aug 2011 08:10GMT DAILY USD/CHF OUTLOOK – 0.7788 Despite dlr’s anticipated retreat fm 0.7857 to 0.7759, current rebound suggests further choppy consolidation abv y’day’s record low of 0.7733 wud continue n another rebound to...
The US Dollar strengthens across the board especially against the Euro and the Cable; the Dollar Index (DXU11) finds stability again in the ranges of 74.00 after it has hit critical support of 73.40 ranges; despite the...
The indication that a debt deal had been struck by members of both parties in the US Congress had initially driven the value of the US dollar (USD) higher in trading yesterday morning.
After an impressive rally towards a fresh record high at 1,1080 the pair seems ready for a corrective move as the market reached the upper weekly bollinger band.
The pair might be in the process of carving out a double bottom formation on the weekly chart which would open the door to a major reversal this year.
The Swiss Franc continues to be agressively bought and the fresh low from yesterday at 77,30 confirms the strong bearish pressure on the USD/CHF.
Last session has been very active on the Japenese Yen as a whole with of course an impact on the USD/JPY.
The Cable has been rolling over ahead of the 1,65 level lately. The market is building a double top formation on the 4-hour chart.
The pair has confirmed a new fail on its daily descending trendline yesterday. The overall structure is now quite bearish with a risk of additional decline towards key level at 1,40 (daily bollinger band).
Market Review – 01/08/2011 21:51 GMT Swiss franc sets new highs on fears of global growth slowdownThe Swiss franc rallied against the greenback and euro to fresh record highs on Monday on risk aversion as weak U.S....
