To Be a Bull or Not to Be a Bull?
The week has come to an end, with dollar showing signs of weakness once again against its major counterparts and especially the euro, after better than expected news out of Germany and France yesterday, suggested that the worse may indeed be over for the Euro area and recovery may very well be a reality. The GDP numbers in Euro zone were surprisingly strong and traders honored the European currency by buying it gains the buck, taking the EUR/USD back up towards 1.43. The EUR/USD closed the day on the upside trend, and the daily charts suggest that further move up may be seen tomorrow towards 1.44. As long as the pair holds 1.4230 ahead of 1.4180, there is good reasons to think that pair is heading north in the coming hours, as traders felt some kind of relief after the better…

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With some markets in Europe closed for the day due to a Bank Holiday, the trading activity following Asia’s opening is slow, with the euro and pound trading slightly on the downside, as traders are getting ready for another busy week, with economic indicators out of the US, speeches by government officials and big, bad Ben Bernanke later on....
I will explain these charts in more detail tomorrow. To see the full pattern, I still need to add stock “fail to deliver” and commodity IOUs to charts above. The quick explanation of charts above is that Wall Street is a complete, Madoff-style ponzi scheme.
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Price action on USD/JPY as of Thursday (3/25/2010) morning New York session retraced somewhat after the substantial bullish move from Wednesday, but continues to carry a bullish bias. After having broken out above the 92.00 region resistance, the next key upside target resides around the 93.75 price region. With Wednesday’s move and a potential...
The week starts with a strong note, with Japanese GDP. And there are a few more events to watch out for. Here’s the daily outlook. EUR/USD made a swing move downwards on Friday but closed above 1.3580. Where will it go this week? Check out my EUR/USD forecast for the events that will move the Euro, and follow Casey Stubbs for fresh technical...
I am still working on finishing yesterday’s article. Here are the updated charts for that entry. Dollar to Euro exchange rate Gold Prices in Euros (these charts will probably make more sense once I finish writing up explanations)
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The dollar continued to weaken all across the board, after the FOMC meeting didn’t show anything new regarding the rates direction, as most members of the FED were passing along mixed messages, with some saying economy is stalling for now and others that recovery will be fast in the coming months. The lack of a unified message passing across market...
If you look at the 4 hour and daily charts of the EUR/GBP currency pair, you will see the price has been stuck in a very narrow trading range for pretty much the whole of this month. (…)
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The euro has sold off aggressively over the past 24 hours, breaking below at least 3 big figures in the process. After such a strong move, many currency traders wonder if there will be consolidation or continuation. Today’s sell-off in the EUR/USD was the strongest since January 5, 2009 and taking a look back at how the EUR/USD behaved at...
EUR/GBP has sold off quite aggressively this week and I think there is still downside opportunity for this currency pair! On the euro front, the outcome of tomorrow’s ECB meeting is likely to be euro bearish. There is no question that rates will be left unchanged and ECB President Trichet will not consciously say anything to drive up the...
Price action on USD/JPY, a daily chart of which is shown, has consolidated for the last several days after having made a strong bullish breakout move last week. This consolidation range occurs in the price zone between 92.00 and 93.00. A breakout to the upside above this range would lend additional strength to a potential bullish reversal of the...
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megapip (Megapip) : Forex Daily Outlook ? September 2 2010: U.S. Unemployment Claims, U.S. Pending Home Sales and the Euro-zone GDP ar... http://bit.ly/cZew41.. Updated : 2010-09-04T04:27:55Z | Reply | View Tweet |
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