Talking Points Japanese Yen: Finds Support Below 110 Euro: Bounces From 1.4820 British Pound: Inflation Rises To Highest On Record US Dollar: Trade Balance on tap The Pound failed to break below the 1.8970 price level twice during the overnight
8/12/2008 - USD/JPY - With recent dollar-strengthening, price on the USD/JPY daily chart, as shown, has reached up to approach resistance at the uptrend line (in green) that has defined price action since mid-March. This line originally served as support
Looking at the monthly chart support line that runs May 2001 to the present it is clear as to why the cable will just not give it up and hold below 1.9000. There is a lot of support, literally for
The EURUSD reached 1.4815 this morning. The drop from 1.5701 is in 5 waves and is most likely wave 3 within a 5 wave drop from 1.6039. A corrective 4th wave advance is expected to unfold over the next several
The aussie is approaching the maximum W.A retracement for the smaller-timeframe W.5:5:5 The impulsive nature of this retracement is consistent with a W.A. Price is likely to reverse 50-62% of this first leg of a potential ABC correction off the
Current level-1.4896 EUR/USD is in а downtrend from 1.6039 (15 July 2008). Technical indicators are descending and trading is situated below the 50- and 200-Day SMA, currently projected at 1.5677 and 1.5227. As expected, yesterday's consolidation was limited below 1.5102
Canada's trade surplus widens to $5.8 billion Exports rise on energy and auto sectors Canada's trade surplus came in bang on expectations this morning, widening to $5.8 billion in June, from a downwardly revised $5.2 billion in May. Total exports
Fundamental Headlines AUDUSD - Australian business confidence held at the lowest point in seven years at -9, as the highest interest rates in 12 years weighed on consumers spending. Company profits are declining as consumers are faced with record energy
GBP/USD has reached a turning point that I don't believe it will come back from for a long time, as the fundamentals and technical's indicate the pound could hit 1.80 in a few weeks. Fundamentally, the U.K. is in the
The Dollar rallied to a five-and-a-half month high against the Euro on Monday, boosted by another drop in Crude Oil prices and speculation that the US economy slowdown was spreading worldwide. EurUsd, which last week suffered its biggest weekly fall
Daily Pivots: (S1) 1.4832; (P) 1.4957; (R1) 1.5037; More EUR/USD recovers again after dipping lower to 1.4815 earlier today. With 4 hours MACD crossing above signal line, an intraday low might be in place and some sideway trading could now
Daily Pivots: (S1) 1.0773; (P) 1.0827; (R1) 1.0912; More USD/CHF retreats further after edging higher to 1.0924 earlier today. With 4 hours MACD crossing signal line, an intraday top might be in place and some sideway trading could be seen.
Broad-based strength in exports contributed to the unexpected narrowing in the trade deficit in June. Although oil imports rose significantly non-oil imports fell sharply, reflecting weakness in domestic demand. By itself, June's data will lead BEA to revise up its
Daily Pivots: (S1) 209.48; (P) 210.50; (R1) 211.32; More GB/JPY continues to fall further to as low as 208.83 today and at this point, further decline is still expected as long as 211.85 minor resistance holds, towards 207.98 support. As
In the July 23rd email on eur/yen , warned that poor upside momentum and lack of confirmation on the new highs was a sign of a market that's topping, and shorted there (then at 169.40). The market did indeed reach
Recent Japanese Yen and Canadian Dollar losses buck their longer-term seasonal trends, as both currencies tend to appreciate against the US dollar in the month of August. A study from 1999-2007 shows that the US dollar/Japanese Yen pair dropped an
Market Overview The potential for an aggressive dollar rally was discussed in last week's release. The speed and extent of the markets' move are not surprising considering the number of technical levels aligned in close proximity. The broadness of the
Daily Pivots: (S1) 109.59; (P) 110.00; (R1) 110.44; More . No change in USD/JPY's outlook as the pair continues to be bounded in tight range today. With 4 hours MACD staying below signal line, more sideway trading could still be
EUR/USD -market strategy can be a sell from the level 1.4886$ Technical oscillators supporting the bearish trend for the currency pair To strengthen our analysis; we use many other indicators, starting with MACD (Moving Averages convergence divergence); we notice the
Daily Pivots: (S1) 1.9031; (P) 1.9143; (R1) 1.9221; More Cable continues to struggle around mentioned 61.8% projection of 2.1161 to 1.9337 from 2.0158 at 1.9047 after dipping to as low as 1.8968 earlier today. At this point, further decline is
