April 07, 2011
Technical Analysis Daily: EUR/USD
On Tuesday the Euro/Dollar traded within a 100 pip range. After the European currency descended down to 1.4151, it started appreciating up to 1.4245 yesterday, matching the positive Interbank sentiment projection at almost +7%, closing the day at 1.4220. This morning the pair climbed further up, reaching 1.4266. On the
Trade Idea: USD/CHF – Stand aside
Although the greenback jumped this morning in Asia to 0.9296, as price has retreated from there, consolidation with mild downside bias is seen for test of the Ichimoku cloud bottom (now at 0.9231) but break of 0.9205 (yesterday’s low) is needed to signal rebound from 0.9192 has ended and bring
Market Morning Briefing
Strong rise in the Pound (1.6328) yesterday from a low near 1.6090 after much better than expected UK PMI data. The rise continues, but could top off near 1.64 before the BOE Meeting on Thursday. The Euro (1.4260) is also strong, in line with our expectation, having recovered well from the fall to 1.4150 yesterday.
Risk-Appetite Dominates Markets As USD & JPY Decline
Minutes of last month's FOMC meeting showed that policy makers differed over whether to begin removing the stimulus this year, discussing the monetary policy after completion of the $600 Billion bond-purchase program. Some members indicated that the current scenario may warrant a less-accommodative monetary policy this year while others wanted
April 06, 2011
Trade Idea: EUR/USD – Buy at 1.4180
Despite yesterday’s brief fall to 1.4152, as the single currency staged a strong rebound after forming a small ‘hammer’ candlestick pattern on the hourly chart, suggesting recent upmove is still in progress and test of indicated chart resistance at 1.4283 would be seen, however, break there is needed to retain
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