The US Dollar Index depreciates on the event of most of the asset classes either stabilizing or posting gains, especially the equity bourses across the world; the Dow has gained for successive third session after major fall...
The pair has confirmed a strong bullish bounce over the last trading session with a rally towards a former support at 1,05.
The pair has been under pressure the most part of monday’s session with a decline towards a first support level at 0,98 corresponding to a 38% retracement of the previous rally.
In the early stage of the week, we did see the pair confirming its bullish momentum while reaching its psychological 80,00 level i.e. 200 pips above last week close.
The pair is still under pressure but continues to hold above its historical low at 76,30.
The pair continues to evolve in a long term trading range between 1,59 and 1,67 but it has confirmed a short term bullish bias after a break above 1,63 yesterday.
Monday’s price action was very interesting as we did see a break and close above the strong daily descending trendline. This breakout opens the door to next target at 1,47 (weekly bollinger band).
Greetings. Let’s pull up the NZD/JPY hourly chart. We saw a nice move down since early August and we’re now in what appears to be a retracement back up.
Market Review – 15/08/2011 22:00 GMT Euro rallies on risk appetites and dollar’s broad-based weakness The single currency rallied to a three-week high against the greenback Monday on risk appetite and dollar’s broad-based weakness as investors hoped...
ForexPros Daily Analysis August 15, 2011 Euro in Range, Pound In Next Short, Yen Flirting With Lows Euro: On the daily looks to be in a range between 1.44 and 1.405-1.4125. It has just broken the short...
