Market review for 30.10 – 4.11, 2011 Last week demonstrated a rather diverse trading dynamics of the major currencies. On Monday the euro droppedagainst the main currencies after the release of the unemployment in Italy and in...
The Dollar Index is trading sideways between 77.30 and 76.40. Immediate resistance in the Dollar Index is seen at 78.00 ranges. Historic congestion is seen at 79.80-80.40-81.20 ranges, which is expected to act as formidable resistance.
The pressure remains on the topside given the recent price action and the studies setup.
After a brief break below parity, the USD/CAD has bounced significantly to resume its upside move.
The pair might be ready to resume its long term bullish trend after a multi-week consolidation.
A strong material base seems to be in place on the USD/JPY. The pair might be ready for a bullish development.
The momentum appears to be clearly bullish on the Cable over the middle term (weekly view).
After a nice rally from the 1,31 level, the major has found some strong resistance by the 1,42 handle where it stalled out.
USD/CAD bounced on Friday as traders got rid of the “risk on” trade in droves. The bounce went straight to the 1.02 resistance level, and it looks like we could see consolidation at this point. The 1.03...
AUD/USD had an initially weak session on Friday, but bounced in later hours as the Americans went hunting for values. The pair looks like it is finding support in the form of 1.03, and as such could...
