By FXstreet – The Pound is now recovering after falling against the Dollar. During the American session the pair reached an intra-day low at 1.6240. From there the pair recovery finding resistance at 1.6300. So far today GBP/USD has fallen 0.80% from the opening price.
Cable is also weaker against the Yen. GBP/JPY has fallen below 160.00 and has tested levels below 159.00. The pair is almost 300 pips away from 5-month high reached on Friday at 162.50
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Last week we posted three comments on specific moves in the currency markets, and one commentary regarding US Treasury Yields. Our posting from June 8 that the next large move in GBP/JPY would be lower has yet to work out. We thought then that the technicals of the pair were leaning towards a gentle roll-over and ... ...
By ForexDistrict - Gold is trading at $930 as of 9:13am, London Time. Gold’s Pool-Position is 32% Long, meaning that most Finotec clients are selling the precious metal. Gold declined against the Dollar as a rallying greenback eroded interest in the precious metal. The greenback gained against most of the major currencies after Russia’s Finance...
By Forex District – The Dollar advanced across the board as investors locked in profits ahead of this weekend’s G8 Finance Minister’s meeting. There could be a great deal of information and statements released over the weekend that could potentially impact the short term moves in the Forex market. However, there is not much expect...
By Adam Kritzer – On June 1, the Forex Blog reported that Brazil is considering a forex tax on capital inflows as a way of discourage the inflow of speculative capital that is causing the Real to appreciate. It turns out that Brazil is not alone; England and France, among others, are also mulling taxes ... ...
By – Forex District USD/JPY Open 97.65 High 98.43 Low 97.35 Close 97.61 Dollar/Yen made an insignificant downward movement yesterday. This confirms the consolidation phase of the currency couple and the unclear movement direction, till trading range is within the triangle formation on the 1 hour chart. Immediate support is 97.25, followed by ...
By Back Bay FX – EUR/USD has just broken through the bottom it’s recent support line (noted in BLUE on the below image). The start of that support is the same level (1.3780 – 1.3800) as we say as a launching pad for EUR/USD back in late May (see BLUE circle on below image.) We ... ...
By Forex District - Technical oscillators supporting the bullish trend for the USD/CHF currency pair USD/CHF-market strategy can be a buy from the level 1.0750 Technical oscillators supporting the bullish trend for the currency pair To strengthen our analysis; we use many other indicators, starting with MACD (Moving Averages convergence divergence)...
By Adam Kritzer – Pretty much every brochure advertising forex trading highlights the fact there is no such a thing as a bear market in forex. Stocks, bonds, and commodities can all lose value simultaneously (as happened when Lehman Brothers declared bankruptcy in October 2008) but it’s impossible for all currencies to decline simultaneousl...
BY DailyFx.com – The EURUSD and USDCHF patterns suggest that the larger trend is in favor of the US dollar. However, important levels have been broken in the AUDUSD and NZDUSD and the USDCAD is expected to drop below 1.0780 before a low forms. At this point, there is no overriding technical theme. ...