Market Review – 11/09/2010 02:04 GMTDollar rose against yen due to upbeat Chinese import data The greenback advanced against the Japanese yen on Friday as solid Chinese import data boosted investors’ confidence on the global economic recovery.
USDCAD broke below the rising trend line, suggesting that a cycle top has been formed at 1.0672 on daily chart, range trading between 1.0107 and 1.0676 is expected in a couple of weeks.
Being supported by a trend line from 0.9634 (2008 low) to 0.9917 (2009 low) on weekly chart, USDCHF rebounded from 1.0060. Sideways consolidation in a range between 1.0060 and 1.0350 is expected in next several days. However,...
USDJPYs downward movement from 92.88 extended to as low as 83.34. Key resistance is now at 85.89, as long as this level holds, downtrend is expected to continue and deeper decline to 82.00 is still possible. However,...
AUDUSD broke above 0.9221 resistance. Further rise is still possible next week and next target is at 0.9404 (2009 high). Near term support is at 0.9090, as long as this level holds, uptrend from 0.8771 could be...
GBPUSD’s fall from 1.5997 extended to as low as 1.5296. Key resistance remains at 1.5597, as long as this level holds, downtrend is expected to continue and next target would be at 1.5200 area. However, above 1.5597...
EURUSD failed to break above 1.2921 key resistance and stayed in a trading range between 1.2587 and 1.2921. Now the price action in the trading range is treated as consolidation of downtrend from 1.3333, as long as...
After recording the bottom over medium term basis at 80.07 the index started an upside correction which reached the 38.2% correction around 83.30 which forced the index to decline towards 23.6% which is strong support for the...
The pair continues trading within the descending channel organizing the short term bearishness since July. After recently reaching the resistance for the channel the pair head to the downside targeting the support for the channel around 82.00.
Riskier currencies made significant jumps in overnight trading, as positive news from the US economy led to renewed optimism in the global economic recovery. The most recent US Trade Balance and Unemployment figure both came in better...
