USDCHF @ 0.8203/06…Support in 0.82008190 region R: 0.8270 / 0.8330 / 0.8350S: 0.82008190 / 0.812000 The Support in 0.82008190 region mentioned in our Morning comments is holding well as of now and DollarSwiss is trying to bounce back. While above 0.8200 we see chances of the upmove extending further breaking above 0.8300 to 0.835070. However, [...]
Risk correlated trades remain in demand as news wires have reported that German Chancellor Merkel and French President Sarkozy have found a joint position on the second bailout for Greece. EURUSD traded up to 1.4295 while EURCHF – our barometer for the EU sovereign crisis – climbed to 1.1749 before retracing slightly. Today is the [...]
USDJPY Analysis. USDJPY formed a cycle bottom at 78.46 on 4-hour chart. Range trading between 78.46 and 79.58 is expected in a couple of days. The price action in the range could be treated as consolidation of downtrend from 81.47, as long as 79.58 resistance holds, one more fall to 77.50 area is still possible. [...]
Foreign Exchange trading encompasses the trading of major and minor currency pairs, that reflect global capital flows on a daily basis. The market is a vast and interesting market that allows investors to speculate on numerous currencies in multiple fashions. The most common way to invest in a currency asset class is to trade the [...]
Good morning everyone. Yesterday’s market was inline with our forecasts. Its getting to a point that the US Dollar will weaken if Bernanke gets up on stage. Today I’m expecting the US Dollar to continue to weaken across the board. I will not be adding any hedged pairs to offset the trading risk today. Exp [...]