Asian markets and European markets were broadly stronger today on hopes the Greek debt crisis is nearing a resolution. As EU officials commenced with discussions in Athens today, top monetary official Olli Rehn urged Greece to take greater austerity measures and asked that the “government announce new measures in the…
Dollar Index: The 4 hour trend is Neutral. Risk-aversion had been the dollar’s friend overnight, helping it gain ground as investors price in the deficit challenges seen in the U.K. and Greece, while averting their attention from longer-term U.S. issues. A stronger Usd in the near-term may struggle to breach…
The British pound is plunging to multi-months lows at a time when the other major pairs have barely moved. This is ahead of a week that is packed with very important news reports (4 interest rate decisions plus the Non-farm Payroll), which shows that institutional traders have cut their exposure…
The GBP/USD had a 150% projection target near 1.49, as can be seen in the daily chart. The market came out of the gates bearish on the GBP/USD and pushed it to the 61.8% retracement as we can see in the weekly chart. Judging from the persistance of the decline,…
Eur/Usd has traded higher in the last session, after traders were unable to push the pair through a strong 1.3443 support zone on Thursday. Prices have gained 230 pips recently, and moved very close to 1.3691 resistance, but the break-out did not happen. The triangle count that we are monitoring…
The USD/JPY was on its way to 87.00 swing projection last week. To start the week, the pair stays supported at the 88.80 area for a second time. This brings the pair to a consolidation mode, and with stochastic rolling over, it looksl ike the market is picking up some…
Markets seem to be in a state of paralysis, unable to find a clear direction this Monday morning. The EURUSD was contained in a tight 100 pip range, while the USDJPY languished right below the Ichimoku daily could cover. Starting this week, the early part of March is filled with…
With a clean break and close below the 139.23 level, its Nov 2609 low and the 138.22 level, its Feb 0410 low the past week, the cross is now poised to head further lower in continuation of its medium term downtrend initiated from 163.06(2009 high).However, with overstretched daily studies we…
The pair remains under pressure (referenced in weekly analysis) breaking through the 1.5057/00 levels, its May 1009 low/psycho levels and following through lower on its past week losses today. With the loss of the 1.5057/00 levels seen, we look for the pair to trade further lower towards its.618 Fib Ret…
At -753k, monthly job losses reached their peak in March 2009. Since then, the deterioration in the labour market has been gradually abating, and the 3-month average of the change in non-farm payrolls went down to -35k in January. Employment in the services sector rose noticeably, and even manufacturing posted…
