ForexPros Daily Analysis July 28, 2011 The Euro is weakening against JPY & CHF EUR/JPY The declines in Wall Street supported the USD against most of the major currencies. Both JPY & EUR were weakening against the...
The AUD/USD fell hard in the American session after originally rising during the Asian session. The pair is sitting over the 1.10 level, and even formed a hammer on the 4 hour chart at that level. This...
The USD/CHF pair had a quiet day Wednesday, finishing basically unchanged as the market is currently sitting just above the 0.80 level. The pair is extraordinarily weak, and this chart does nothing to dispute that trend.
The USD/CAD pair had a bullish day on Wednesday, tying in with the oil markets falling. The pair has been dictated by the CL contract lately, as it does from time to time. The pair looks like...
USD/JPY had a hard fall at the beginning of the Wednesday session, but then bounced just as hard as the market rose again. This formed a hammer on the daily chart, and this could be the start...
The GBP/USD pair fell hard on Wednesday, totally erasing the gains that the market made on Tuesday. The pair had gotten close to the 1.65 psychological number and failed.
EUR/USD fell hard during the Wednesday session, falling straight to the 1.4350 level. The pair has tested the 1.45 level, and found it too hard to crack.
The value of safe-haven assets has been given a boost by a shift away from higher yielding assets this week, though the dollar has been receiving fewer of these gains than normal.
The pair continues its impressive rally since it has broken through the top of the daily range.
Yesterday, we did see the pair bouncing on top of 0,94 and thus validating a double bottom on the 4-hour chart confirmed by a positive divergence on the MACD.
