Forex Weekly Review and Outlook
EUR/USDEUR/USD's consolidative trading extended for another week last week, still being trapped within 1.2005 and 1.2179. EUR/USD can still take various possible paths in these type of extended consolidation. A triangle formation is being one of the likely ones. If that's the case, there should [full report]
Forex Weekly Review and Outlook
EUR/USD
Roller-coaster day on Friday. After a brief rebound to 1.2235, EUR/USD turned south and fell steeply for over 140 pts to as low as 1.2084 before taking a breath. Such steep fall is once again telling us to respect divergence conditions. As discussed before, bearish divergence [full report]
EUR/USD
Even though rebounding to 1.2188 on Monday, EUR/USD's fall from 1.2322 quickly resumed and extended further. Friday's brief recovery was also limited by short term falling trend line and fall accelerated after failing to break above, reaching as low as 1.1967, pressing mentioned cluster support at 1.1981/85 (61.8% retracement of [full report]
EUR/USD
After directionless trading for most of the week, the market finally showed its 'hand' after wild trading on Friday. The rising trend line looked set to hold for a rebound but such rebound was much weaker than we thought and reached far below mentioned resistance of 1.2133 and 1.2188. EUR/USD [full report]
Weekly Currency Wrap-up The yen has been an important market focus for the much of the past week. From levels beyond 119.0 after the strong February US payroll on February 3rd, the yen strengthened back to highs around 117.50 against the dollar on Tuesday as short yen positions were liquidated. [full report]
EUR/USDAs discussed throughout the week, EUR/USD's downside momentum has been seen diminishing as displayed in bullish convergence condition in 4 hours MACD and RSI. Friday's sharp rebound, though volatile, has pushed EUR/USD through minor resistance at 1.1913, completing a falling wedge formation and have the upper channel line broken. These [full report]
The prospects for US interest rates remained the dominant influence over the past week with a series of key US economic data and the debut congressional testimony as Fed Chairman for Ben Bernanke.
The US data was mixed over the week, but had a firm tone, supported to a considerable [full report]
EUR/USDEUR/USD's sustained trading this week above previous mentioned falling channel confirms that the fall from 1.2322 has completed at 1.1847. The subsequent price actions from 1.1847 is being treated as consolidation/correction to this fall. Originally, we have favored a strong rebound case but EUR/USD lacked follow through buying after reaching [full report]
The US data flow was slower this week and the releases also failed to have major market impact. Headline consumer prices rose 0.7% in January as food and energy prices rose sharply, but the core increase was held to 0.2% with the annual increase falling slightly to 2.1% from 2.2%. [full report]
EUR/USDEUR/USD's anticipated strong rebound finally occurred last week after making a marginal low at 1.1825. Friday's volatile trading indicates some indecisiveness that could bring further sideway trading into early next week. However, we'd still expect the rebound to go further towards mentioned cluster resistance of 1.2127/32 (61.8% retracement of 1.2322 [full report]
Interest rates trends remained the dominant influence over the week as markets continued to assess monetary policy trends in the major global economies. As expected, the ECB increased interest rates by 0.25% to 2.50% during the week, the second increase in three months.
In the news conference following the decision, [full report]
EUR/USD
EUR/USD's rebound from 1.1825 ended earlier than we thought. After edging higher to 1.2091 last Monday EUR/USD quickly reversed on the same day and resumed the decline from 1.2322, pushed EUR/USD back to 1.18/19 region. From a bigger picture, daily MACD's turning downward is echoing our view that further weakness [full report]
The Bank of Japan monetary meeting was an important focus over the week with the central bank moving away from the quantative policy which has operated for the past five years. The bank has switched back to a system of interest rate targeting with the adoption of an inflation reference [full report]
EUR/USDEUR/USD's strong rally (close to 300 pts) this week started on Monday and never quite looked back. As mentioned during the week, breaking of the inner trend line has invalidated our immediate bearish view and has now put medium term falling trend line (from 1.2587 to 1.2322, now at 1.2220) [full report]
Interest rate considerations have remained the dominant influence and the yield trends seen during the last week have prompted what could be a significant reversal in the currency markets.
The US consumer price increase for February was held to 0.1% at the headline and underlying levels with a core annual [full report]
EUR/USDEUR/USD failed to ride on previously week's strong rally and break above mentioned key medium term resistance of 78.6% retracement of 1.2322 to 1.1825 at 1.2216 and medium term falling trend line. Thursday's sharp fall that pushed it below cluster support of 1.2034 (with 50% retracement of 1.1859 to 1.2206 [full report]
Weekly Currency Wrap-up US interest rate expectations have remained dominant over the past week with significant fluctuations in market sentiment and choppy currency-market moves. Given that US monetary policy is close to a neutral level, the Federal Reserve will inevitably have to take close notice of forthcoming data releases as [full report]
Looking for Breakout
Majors remained bounded in establish range last week but traded with volatile price actions. One of the main issue remains which one of Fed and ECB will have more rate hike this year. Last week's hawkish statement from Fed has shifted expectation back to Fed to end the [full report]
Weekly Currency Wrap-up Global interest rate policies remained the dominant market influence over the past week and market volatility increased although overall trading ranges were contained to relatively narrow ranges as there were several reversals in direction.
The US Federal Reserve increased interest rates for the 15th consecutive time at [full report]
Sentiments Flipped, Volatility Continues Last week was originally built up for hawkish comments from ECB and an confirmation for another rate hike in May. However, Trichet's rejection of such market expectation has turned market sentiments 180 degrees. Friday's solid non-farm payroll was 'good' as suggested by Treasury Snow earlier the [full report]
EURJPY eurjpy very good buying target 148-149.50 entry 143.00 or 140.50 critical stop 136.00
You can buy call option at nybot at strike at 144.00 expiration in May or June 2006.. [full report]
The Bradley Stock Market Cycle is approaching what appears to be a significant high as we have been saying ov er the past several weeks. The Dow Jones Industrial Average has not exceeded the 1.27 expansion of the last major swing which indicates that a potential tradable top is in sight. [full report]
GBPJPY , EURJPY
GBPJPY very good buying entry 206.45 stop 204.00 target 208.40-209.00
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eurjpy very good buying target 148-149.50 entry 143.00 or 140.50 critical stop 136.00
You can buy call option at nybot at strike at 144.00 expiration in May or June 2006 [full report]
Market volatility was lower in a holiday-shortened week, although conditions were still choppy. Structural and cyclical trends have remained in focus over the past week and battled for supremacy.
The US trade deficit fell to US$65.7bn in February from US$68.6bn in January as imports and exports both fell over the [full report]
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