The main topic for this week’s trading session continues to be the European debt crisis. It is now broadly accepted that the Irish financial bailout has failed to calm markets and the possible debt contagion continues to...
Market Review – 10/12/2010 21:24 GMT Dollar rebounds against yen on upbeat U.S. economic data The dollar traded firmly against the Japanese yen in New York session as strong U.S. consumer sentiment and trade data suggested the...
U.S. economy Previous week elapsed in rather slow manner for U.S. economy. It brought solely four significant data releases, which general outlook was good for Dollar. Indubitable highlight of previous week was Ben Bernanke speech on “60...
USDCAD keeps on moving sideways in a range between 0.9977 and 1.0378. The sideways movement is expected to continue next week and bounce to 1.0200 area would likely be seen. Support is at 0.9977, below this level...
USDCHF may be forming a cycle bottom at 0.9725 level on daily chart. Further rise towards 1.0066 would likely be seen next week, a break above this level will confirm the cycle bottom and indicate that the...
USDJPY is facing 84.40 resistance, a break above this level will suggest that the upward move from 80.30 has resumed, then further rally could be seen to 87.00 or even higher. Support is at 82.34, below this...
AUDUSD formed a cycle bottom at 0.9537 level on daily chart. The bounce from 0.9537 is likely resumption of uptrend from 0.8066, further rise towards 1.0182 key resistance is expected, a break above this level will target...
GBPUSD has formed a cycle bottom at 1.5484 level on daily chart. However, the bounce from 1.5484 is treated as consolidation of downtrend from 1.6298, another fall to test 1.5296 key support is still possible after consolidation....
EURUSD is forming a cycle bottom at 1.2969 level on 4-hour chart, consolidation of downtrend is expected to continue and range trading between 1.2969 and 1.3600 would likely be seen in a couple of weeks.
GBP/JPY is now developing corrective wave 4 of the medium term uptrend – colored red in the chart. The targets of wave 4 are Fibonacci retracements of 129.43-132.99, 129.51-132.99 and expansions off 132.99-132.38-132.90.
