Yesterday the greenback saw rising trends against most of its major currency trading rivals. During the prior trading session the EUR\USD dropped 98 points from 1.5573 down do 1.5475. In addition the USD experienced bullish behavior against the JPY and the CHF. Yesterday was packed with data for the U.S economy. The most important indicator was the Unemployment Claims, which showed that the U.S weekly jobless claims rose by 5,000 to 381,000 individuals filing new claims for unemployment. The Philadelphia Fed Manufacturing Index, which measures ... ( read more )
Posts Tagged with ‘gold’
May 29, 2008 - The Greenback Pushes Up Ahead of GDP
Yesterday, the greenback saw bullish trends against most of its major counterparts following positive economic news from the U.S. The EUR\USD was traded as low as 1.5620. The USD was also bullish against the rest of the major currencies. The greenback's daily momentum was driven by the better than forecasted Core Durable Goods Orders and general Durable Goods Orders, as both beat forecasts by at least 1%.
The USD's bullish trend yesterday quickly developed after the news announcements regarding the Durable Goods Orders. Experts predicted the... ( read more )
May 13, 2008 - Forex Technical Analysis
EUR/USD
There has been a strong breach through the upper level of the bearish channel on the 4 hour chart. The momentum on the daily chart is now bullish, yet the hourlies indicate a possible local bearish correction. Buying on dips might be a good strategy today.
GBP/USD
The float within the narrowing bearish channel on the daily chart continues. The cable now floats in the middle of the channel with moderate bullish momentum. The daily Slow Stochastic is showing a strong bullish cross which implies on an upcoming bullish correction. ... ( read more )
April 21, 2008 - Forex Technical Analysis
EUR/USD
After a sharp drop of more than 200 pips on Friday, the pair is showing fresh bullish momentum, and it is now floating around 1.5830. The Slow Stochastic of the 4 hour chart is showing moderate bullish momentum, and the RSI confirms that the direction is indeed up. If the pair breached the 1.5850 level, the trend will be fully validated and another move is expected. Going long appears to be preferable.
GBP/USD
The narrowing channel on the daily chart has been breached, and the cable now rides the bullish momentum created in tha... ( read more )