Daily Forecast for Crosses

EURJPY Forecast
The EURJPY had a significant bullish momentum yesterday, slipped above the trendline resistance, but still unable to stay consistently above it. After bullish momentum triggered by the double bottom formation around 119.70 area, price is now facing a double top formation around 123.99 area. A failure to break above that area and break below [...]

Daily Forecast for Majors

EURUSD Forecast:
The EURUSD didn’t make significant movement yesterday. Overall price is still in consolidation range of 1.3450/35 – 1.3735/50. The bias remains neutral both in nearest and medium term but the long term outlook remains bearish. For me, there are two technical events that must take place in this situation to give us clearer direction, [...]

Intraday Market Update

The U.S. session is experiencing a roller coaster ride, with the majors breaking out higher at the open to then reverse most gains as stocks retreated. Currently, the majors are recouping some of the lost ground as equities are once again edging into positive territory.
The Aussie had the strongest reversal as sellers were already lined [...]

Afternoon Forex Overview

Previous session overview
The dollar rose versus the Japanese yen and British pound on Wednesday, but the euro managed to erase an earlier loss versus the greenback after stronger-than-expected manufacturing data from France and Italy.
The euro traded at USD1.3620, up from USD1.3598 in late North American trading Tuesday. The single currency had been under pressure in [...]

When there is no one to blame

When there is no one to blame, speculators are usually the ones that take the hit. But is rather ironic that speculators have nothing to do with managing a country and creating the huge deficits we are now in presence of. Managers of companies and governments are the ones that should be hold responsible for [...]

Chinese export data pressures yen

A year after the weakest close for global equity prices, risk appetite has very much returned to the agenda. Stock prices are 60% or so higher from the bottoms reached in March 2009. Of course at the time no one knew it was the bottom and subsequently investors have climbed that so-called “wall of worry.”
As [...]

GBP/USD Support at 1.4873

The Pound extended losses below the 1.4900 level following negative UK economic data.
Manufacturing and industrial production were both below analysts estimates, printing at -0.9% and -0.3% compared to the +0.3% and +0.2% consensus, respectively.
GBP/USD dropped to 1.4873, the 78.6% Fib. retracement level (1.4785 to 1.5197), and is finding slight demand in this area.
Bias remains to [...]

EUR/USD Holds Above the 1.3540

The pair continues to trade within a consolidation range as developments in the EuroZone remain rather unchanged.
Concerns over Greece have eased slightly helping the Euro hold some ground. Focus will now be on the proposed IMF-style institution or the implementation of euro bonds, as well as upcoming economic data from the US and the EuroZone.
The [...]

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