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New Zealand's Trade Deficit surprised to the upside as weakening domestic demand reduced import volumes. Australian New Homes Sales surged higher as the mining boom produced record immigration levels. Preliminary estimates of Germany's Consumer Prices will dominate attention in European
Current level-1.5723 EUR/USD is in an uptrend from recent bottom at 1.5301, that was the final of the prolonged consolidation since 1.5909 (17 March 2008). Technical indicators are slowly rising and trading is situated above the 50- and 200-Day SMA,
Talking Points Japanese Yen: Fails to hold 108.00 Euro: Consumer sentiment at worst levels since 2003 British Pound: Hometrack housings survey shows 10th straight month of declines US Dollar: No data on tap Euro Holds Its Own as German Sentiment
Comment : Basing against the top of the Ichimoku 'cloud' after an A, B, C-type pullback where C is a little bigger than A. Expect random moves roughly between 1.5650 and 1.5750 with a sustained break above 1.5755 setting off
Decline underway Last week we opted to continue holding an open short EURUSD position having sold the pair at 1.5863 targeting a pullback to the long-term bullish trend line. EURUSD closed the week at 1.5697, yielding 166 pips. Looking ahead,
EUR/USD -market strategy can be a buy from the level 1.5728$ 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); we notice the
CHF The assumed test of the key supports for realization of buyers' positions has not been confirmed but the activity parity of both parties revealed by OsMA indicator gives grounds to presume a possible period of range movement of the
Fundamental Headlines EURUSD - The economic outlook for Germany remains bleak as consumer confidence declined to the lowest level in five years. GfK AG's index fell to 2.1 for August from 3.6 in July, the lowest level since June 2003.
The USD rose against the JPY to a one-month high at 108.08, after a trio of better-thanexpected data injected optimism into the US economy. The upbeat readings on US durable good orders (up 0.8% in June), new-home sales and a
Daily Pivots: (S1) 1.9836; (P) 1.9907; (R1) 1.9983; More Cable weakens again today but after all it's still staying in range above 1.9816. Intraday outlook remains neutral for the moment. On the downside, below 1.9816 will suggest that correction from
Week of 28 July to 3 August 2008) EMU industrial confidence and economic sentiment (July): down German retail sales (June): stable EMU inflation (July) flash estimate: up at 4.2 % yoy German adjusted unemployment (July): down by 16k The GfK
Week of 28 July to 3 August 2008) Consumer confidence likely to have eased in July External demand and stimulus package temporarily boost Q2 GDP growth Non-farm payrolls could have declined sharply by 75k in July Manufacturing ISM likely to
Daily Pivots: (S1) 168.14; (P) 168.80; (R1) 170.09; More . EUR/JPY edges higher to 169.70 today but retreats again ahead of 170 psychological resistance. Though, intraday bias remains on the upside as long as 168.70 minor support holds and further
Resistance : 1,5740/ 1,1,5765-70/ 1,5800-10/ 1,5850-60 Support : 1,5670-80/ 1,5630-40/ 1,5600/ 1,5570/ 1,5520 Comment : Euro remained below the first resistance level at 1,5750-70 on Friday, forming a sideways consolidation. There is not much to add to Friday's scenario. The