Forex News31 Jul 00:39 - The EUR/USD rallied further this week and is going to enter an upper zone of resistance. If the market continues further but can find a top in the zone that starts at 1.3120 to 1.3250, it can still decline towards and even past the 1.1880 area. However, a breaks suggests 30 Jul 23:25 - Price action on GBP/USD (a daily chart of which is shown) as of Friday (7/30/2010) has consolidated above 1.5500, a prior resistance region that was broken to the upside earlier in the week. This occurs within the context of a strong accelerated uptrend extending originally from the 1.4230 area lows 30 Jul 20:24 - Cable fell to a low of 1.5552 in the European session today and is currently trading higher. The pair has been trading above the 200 DMA Support (1.5541) for the 4th day now and an immediate fall looks unlikely. In the US session today, there are chances that the markets 30 Jul 18:17 - Dollar/Yen continued decreasing on Thursday, in converse with the negative Interbank sentiment at around +15%. The currency couple depreciated from 87.49 to 86.62 yesterday, closing the day at 86.82. Today the bears took further advantage down to 86.27. On the 1 hour chart trading is within wide range, and on 30 Jul 17:28 - EUR/GBP Longer term bias switched to bearish now that the cross has breached key support in 0.8400 area. Intraday: Still finding support at the 30 MA, a push above 0.84 is required to keep the bullish bias. Staying sidelined until we get a clear direction. 30 Jul 16:56 - The euro held steady at $1.3077, not far from a 12-week high of $1.3107 hit on Thursday, when data showed a jump in euro zone economic sentiment to a 28-month high and a decline in German unemployment. Key technical resistance stood around $1.3120/25, which was the 38.2 percent retracement of 30 Jul 16:52 - The Euro extends rally today with support from solid employment data from Germany and improving confidence in Eurozone. Germ! any unemployment rate dropped to 7.6% in July, hitting the lowest level since November 2008. Economic confidence rose to a two year high of 101.3 in July versus expectation of 99. 30 Jul 16:50 - EUR/USD is in a downtrend, after peaking at 1.5146 (Nov.25,2009). Technical indicators are descending, and trading is situated below the 50- and 200-Day SMA, currently projected at 1.3458 and 1.4206. 30 Jul 16:47 - EURUSD Yesterday's break above 1.3045, previous high, has cleared 1.3073/93 barriers, to hit 1.3105, en-route to 1.3125 target. Potential break here would look for an extension above 1.3200. Below, 1.2965/51 is a key, and below here to weaken the structure. 30 Jul 16:45 - The pair continues to retain its short term upside as it eyes its.50 Fib Ret.(1.7041-1.4226 decline) at 1.5628. This is coming on the heels of a violation of the 1.5470 level, its July 13'10 high as well as its April 15'10 high at 1.5521. With this feat achieved, we look |
  
 |