EUR/USD – Respects Support In early trading the pair is respecting the 1.4200 level. This is a horizontal and hourly trendline support area. The trendline will rise throughout the day. The bias is up, with 1.4220 also...
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...
The U.S. Dollar is expected to go volatile today on U.S. Homes Sales data and the speech by Federal Reserve Chairman Ben Bernanke at 14:00 GMT. Bernanke is expected to discuss the economic crisis and recovery. With...
Yesterday’s bearish behavior by the GBP was felt by many traders as the Bank of England’s (BOE) Monetary Policy Committee (MPC) released the minutes from a recent meeting regarding interest rates and quantitative easing. There was a...
