After a week of depreciation, Dollar/Yen started this week with upward correction, which is expected to run out of steam somewhere around Friday’s top, from where the main downtrend on the 3 hour chart should continue, especially if we see convincing break bellow the nearest support 88.75. As the above…
The EU’s Monetary Affairs Commissioner Rehn is to meet with the Greek Finance Minister Papaconstantinou today. Over the weekend Chancellor Merkel and Luxembourg PM Juncker had suggested that Rehn will be demanding that Greece takes further steps to cut its budget deficit. In view of the difficulties that the Greek…
M&A flows weighed upon the GBP throughout the session and cumulated with Prudential (UK) to acquire AIA from AIG for $35.5B in cash and equity (as speculated in the press expected). GBP/USD hit fresh 9-month lows below 1.5000 level and EUR/GBP regained a foothold above the 0.9050 level. The GBP…
Long USD positions have been built further and speculative investors are now only short the dollar against the commodity currencies. Hence, confidence appears to remain in the dollar strengthening further. The extension of long USD positions was mainly driven by speculative investors adding to short EUR positions. These have now…
EUR/USD is in a downtrend, after peaking at 1.5146 (Nov.25,2009). Technical indicators are neutral, and trading is situated below the 50- and 200-Day SMA, currently projected at 1.4793 and 1.4169.
Today’s data showed that the manufacturing sector is still continuing its advance month after the other, waiting for services that is due this week to give a complete picture about the performance of the economy’s largest sectors in the first half of 2010.
Intraday: buyers pushed the pair to a new high at 0,8970. Breaking through trendline resistance gives bullish momentum for todays session. A strong psychological resistance level between 0,9000 and 0,9050 lays ahead.
Remains constructive off 1.3450 low, clearing 1.3607/25, trendline/previous high, resistance. Bulls so far reached 1.3681, just ahead of 1.3690, 23 Feb high. Higher low seen at 1.3585 for fresh attempt at 1.3691, break of which to focus 1.3787 next. Below 1.3550 to weaken the tone.
Technical analysis show us the euro may start a bullish movement based on many indicators like MACD, which gives us a buying signal by crossing MACD line to the signal line upwards and RSI bounced on 30% line forming a clear uptrend. Bollinger gives us a bullish signal by closing…
On Thursday, the ECB Council will discuss whether and to what extent the extraordinary monetary policy measures still in operation can be phased out. The last 12-month tender was held in December, and the 6-months tender being held at the end of March is to be the last one. The…
