ForexPros Daily Analysis July 25, 2011 Possible Rounded Bottom in GBP/CAD The Canadian Dollar was very active last week, due to enormous amount of data released in that country. Even though a lot of it was positive,...
Market Review – 22/07/2011 22:05 GMT Euro falls on concerns over Greek bailout package The single currency weakened on Friday as initial optimism was dampened on uncertainty how the aid package for Greece will be implemented to...
A breakdown in Congress over the debt limit this weekend has resulted in rather sporadic behavior in the forex market so far Monday morning. Though risk aversion appears to be rising, indicated by soaring precious metal values,...
The USD traded flat against most of the majors, historic correlation between DJIA Vs DX suggests the major trend is still bearish in the Dollar Index though short covering can be expected; only weekly close above 76.70...
The Aussie has been outperforming last week. The high yield currency took advantage of the renewed risk appetite on a confused market driven by macro-economic events.
The USD/CAD has been under intense pressure in the beginning of last week testing and breaking below its multi-year low at 0,9450 to print a new fresh low at 0,9425.
After a break below its daily range the pair has been consolidating last week despite the strong pressure on the US Dollar.
The pair is now following a clear downtrend and we might see additional pressure going forward.
The GPB/USD has been well bid after a bounce on top of key 1,60 level. The market has validated a bullish structure which now potentially exposes 1,66 (weekly bollinger band).
The EUR/USD has broken and closed above 1,4280 which validates a cup&handle pattern. But the pair is currently testing a strong descending trendline passing by 2 important lower tops in June and July.
