EURUSD’s downward movement from 1.4548 extended to as low as 1.3146, the subsequent bounce is likely consolidation of downtrend. Further fall is expected next week, and next target would be at 1.3000 zone. Resistance is at 1.3700,...
Market participants were expecting the results of the press-conference with the ECB President.
The Dollar Index continued correction after hitting resistance zone of 79.50; historic resistance zone is seen in the ranges of 79.20 to 80.20 to 81.30 ranges. On the lower side 76.00 ranges would act as formidable support...
The euro was indeed seen gaining a foothold against the USD following the European Central Bank’s (ECB) latest announcement regarding interest rates, known as the Minimum Bid Rate.
AUD/USD continued to rise on Thursday as the global markets continue the “risk on” move that they have been in over the last few days. The charts do suggest that we may still be a bit oversold,...
EUR/USD rose on Thursday, showing a continued “risk on” attitude over the last few days. The ECB didn’t do much for the session, even though there was the much anticipated last meeting of Jean-Claude Trichet.
GBP/USD fell on Thursday as the Bank of England announced it was expanding its bond buying program, which of course is a form of quantitative easing. However, the pair found its footing late in the session and...
USD/CAD continued to fall on Thursday as traders are willing to take on a bit more risk over the last several sessions. The pair is highly correlated to the oil markets, and the announcement of a larger...
USD/CHF rose on Thursday, but formed a shooting star at the end of the session as the move faded a bit. The pair looks a little overbought at these levels, and a pullback isn’t necessarily a bad...
USD/JPY continued its back and forth trading between the 76 and 77.50 areas on Thursday. The pair is stuck in this range, and has been very good to scalpers who have absolutely cleaned up in this tight...
