EUR/USD: reversal possible
The eurodollar pair has touched the top of its channel and pulled-back. It has formed an H&S reversal pattern at the highs on the 1-hour chart and it is in the process of breaking down through the...
Month: August 2012
EUR/GBP: continuation higher
The EUR/GBP pair is still rising in a counter-trend rally although it has hit stiff resistance from the 50-day MA. A break above 0.7926 would provide strong confirmation of a continuation higher and target the 0.7962 highs....
Fed’s Consideration of QE3 Hurts USD
Release of the recent Fed Minutes, which showed active consideration of QE3 – a perceived stimulus for the globally lethargic economies – is reflected in such consideration spreading beyond US shores.
EUR/USD: Euro Rises Alongside the Greenback
The Euro gained versus the US dollar in the previous European trading exchanges on developments in the Euro Zone and weaker job figures in the US, increasing speculations of another QE by the Federal Reserve. In today’s...
Chinese Data Weakens AUD and Crude Oil
After hitting a fresh seven-week high against the US dollar earlier in the week, the euro was unable to extend its gains during trading yesterday despite the release of positive French and German manufacturing data.
USD/JPY Forecast August 24, 2012, Technical Analysis
USD/JPY fell during the session on Thursday as the “risk off trade” continued. The pair looks like it is trying to find some type of support in that general vicinity and this of course makes sense as...
USD/CAD Forecast August 24, 2012, Technical Analysis
The USD/CAD pair rose during the session on Thursday, to test the top of the shooting star that was printed on Wednesday. The “risk off” trade seems to be back into play now, and the commodity currencies...
GBP/USD Forecast August 24, 2012, Technical Analysis
The GBP/USD pair attempted to continue higher on Thursday, but got old back instead in order to form a hammer. This hammer is essentially anchored at the 1.59 level, and as such it looks like we may...
EUR/USD Forecast August 24, 2012, Technical Analysis
The EUR/USD pair continued to March higher on Thursday, but gave back about half of the gains in order to close near the 1.2550 level.
AUD/USD Forecast August 24, 2012, Technical Analysis
The AUD/USD pair initially rose during the Thursday session, but it must be said that it sold off rather drastically by the end of the day. Looking at this chart, it’s easy to see that there is...