EURUSD Forecast The EURUSD was volatile but indecisive yesterday. Price attempted to push higher, topped at 1.3539 but closed lower at 1.3453 and bounced higher again earlier today in Asian session hit 1.3503. There are no changes in my technical outlook. As long as price stays below 1.3590 I still prefer to short on rallies. [...]
***Economic Data*** – (KS) BANK OF KOREA (BOK) LEAVES 7-DAY REPO RATE UNCHANGED 3.25%; AS EXPECTED – (JP) JAPAN SEPT TERTIARY INDUSTRY INDEX M/M: -0.7% V -0.5%E (3rd consecutive decline; 6-month low) – (JP) JAPAN OCT DOMESTIC CGPI M/M: -0.7% V -0.2%E; Y/Y: 1.7% V 2.2%E (8-month low) – (NZ) NEW ZEALAND OCT REINZ HOUSING [...]
Leaning Tower of Italy While what is happening in the Euro Zone periphery is no laughing matter for those living there and most vulnerable , I can’t help but feel that the crisis is much of their own doing and the crisis response from the EU leadership and ECB remains woefully inadequate. Yet the [...]
Euro: Fitch Sees Greek Default, ECB Rate Decision On Tap The Euro slipped to a low of 1.4133 as Fitch Ratings said a 50% haircut on Greek debt would be considered a ‘default event,’ and the single-currency may continue trade heavy in the week ahead as investor confidence remains frail. Meanwhile, China’s Vice-Finance Minister, Zhu [...]
EURUSD-USDCHF CORRELATION TECHNIQUE NUMBER 2 “The market trading environment is unemotional and unforgiving for the novice trader. Professional traders indulge themselves every time a market turning point occurs. They know when a novice trader is making a mistake, because they’re on the wrong side at every turning point. The result for novice traders is a [...]