Silver in Depth
Silver continues trading within the main ascending channel over medium term basis since the recorded bottom at 8.48 and halted temporarily at the top mid May of 19.80. The temporary stop was for a needed downside correction...
Month: August 2010
USD – Bad Data Becoming The Norm
Additional poor data was reported from the U.S. on Wednesday as the New Home Sales completely missed its estimate. The outcome of 276k was far short of the 333k expectation. And troubling to investors was that the...
EUR – Germany Proving Stable But…
The German Ifo Business Climate reading provided some positive news for the E.U. on Wednesday with a mark of 106.7, which beat the estimate of 105.8. The EUR did trade in a stable range and managed to...
GBP – Sterling Recovers For A Day
No major economic data came from the U.K on Wednesday and today only the CBI Realized Sales will be brought forth. Today’s release has an estimate of 23, which is below the previous result of 33. The...
JPY & AUD – Range Bound And Cautious
The JPY and AUD both traded in fairly tight ranges on Wednesday. Asian bourses continued to turn in mixed results as fallout from the strong JPY continues to create havoc with Japanese equities, but in turn helps...
Crude Oil Morning Report 26/ August /2010
Crude continues inclining due affects from the falling wedge shown yesterday, where it nears from resistance for the bearish channel around 73.30 after achieving some descend to retest resistance for the previously breached falling wedge. Momentum indicators are...
Major Currencies’ Morning Report 26/ August /2010
EURUSDThe pair continues to fluctuate around resistance for the bearish short term channel until it recently breached this resistance at 1.2695, finally fluctuating to show a bullish technical pattern that is near completion.
A Macro Perspective On the Dollar’s Rally
USDCAD: We found this chart to be quite interesting. We are using a weekly chart below and what we clearly see is the range the CAD has been trading versus the Greenback. On a daily chart you...
Yen Reaches 15-Year Low
Volatility was high today as the Japanese yen fell to its lowest level in the past 15 years. This has taken place as traders test the resolve of the Japanese government not to intervene in the currency...
GBP/JPY Elliott wave count and Fibonacci levels, August 25, 2010
According to wave count on hourly timeframe this currency pair is now moving within a strong med term downtrend. All the major waves are impulsive. The targets of the downside movement are Fibonacci expansions off AB waves...