ForexPros Daily Analysis August 25, 2010 Euro Dollar The Euro broke the support we specified in yesterday’s report 1.2630, dropping modestly to 1.2586, and stopping clearly before meeting our target at 1.2550. With this new extension to...
After the 38.2% correction halted the pair’s downside move, the pair rushed to the upside within the short term upside channel; after reaching the channel’s resistance areas around 0.9220 trading reversed normally, yet over daily basis the...
EURUSD: The EUR closed below both the 100 day and 50 day moving averages. The candle that caused the fall also initially broke below the 38.2% Fibonacci Retrace level. This level is generated by using the low...
Existing Home Sales in the U.S. plunged according to Tuesday’s report and this confirmed ‘whispers’ that had surrounded the number before its release. The USD traded in a stable manner against the EUR and GBP yesterday and...
The German GDP was released yesterday and it met its expectation head on with a gain of 2.2%. The EUR lost further ground to the USD Tuesday, but it accomplished this at a slower pace than the...
The Sterling found some stability on Tuesday and this occurred even as the BBA Mortgage Approval numbers disappointed investors with a figure of 33.7k, which was well below the estimate and the previous month’s outcome.
The BoJ entered the fray once again saying that it stands ready to act if the JPY continues to get stronger against the USD. It also went out of its way to warn ‘speculators’ that they should...
EURUSDThe pair pushed to correct the bearish wave mildly, according to the suggested scenario in yesterday’s reports and returned to negatively pressure it to resume trading within the current bearish trend. We notice that momentum indicators have...
Crude yesterday descended towards the awaited levels around 71.40 rebounding to the upside to form a bearish technical wedge that has breached its resistance level.
A downgrade of Ireland’s sovereign debt rating late Tuesday further roiled foreign exchange markets already agitated by dismal U.S. housing sales. The Standard & Poor’s Ratings Services downgraded Ireland’s credit rating late Tuesday on concerns about the...
