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On the four hour chart above, traders may notice the latest 76.57 top around the trend-line resistance that looks to be the top of a black wave i, (which pushed the prices lower into a corrective wave ii). The most typical Fibonacci retracement level of a corrective wave two…

The USD is trading higher as the global equity market rally slows and investors try to assess risk, the BOJ leaves monetary policy unchanged and will end corporate bond purchases, EU inflation remains negative and unemployment rises, Fitch downgrades seven UK building societies, Swiss KOF rises more than expected, Australia’s…

Overall, following the pattern laid over the last few days of trading, the overnight session proved very slow in the currency market. Since the Friday session opened, the major pairs have barely moved, only swinging around the break-even line. The same could be observed in the main financial markets, with…

Cable fell towards 1.6508 during the day today. Longs near 1.65 may be attempted as there’s potential bull flag in the making. The rise may come about today/early next week. However, there’s US Personal Income numbers scheduled for today. Any positive surprises would confirm the bull flag. Week close above…

The US GDP data has helped revive risk appetite and this has curbed immediate defensive dollar demand. Nevertheless, there will still be very serious doubts over the sustainability of the global recovery and risk appetite is likely to be generally more cautious in the short term. There will be some…

* Times listed are GMT

It is undoubtedly a good thing that the US economy pulled itself out of recession in the third quarter but market pricing this morning reflects only cautious optimism. While stocks in Asian hours had the added benefit of some good corporate earnings, EUR/USD remains below yesterday?s best levels and the…

Support at 1,4680 area managed to limit euro?s decline and the reach of the lower Bollinger in the daily chart, combined with the strong positive candle, indicate that a reversal is possible? Yesterday?s reaction led to 1,4840-60 resistance, but retracements remained weak. A rise resumption is possible if 1,4760-70 is…

Bank of Japan (BoJ) at today’s monetary meeting announced plans to scrap most of its non-conventional easing measures. In addition, BoJ published new macroeconomic forecasts. BoJ’s view of the economy remains benign and it expects deflation to prevail well into 2011. The termination of most of BoJ’s non-conventional easing measures…

EUR/USD-market strategy can be a sell from the level 1.4861$ To strengthen our analysis; we use many other indicators, starting with MACD (Moving Averages convergence divergence); we notice the MACD lines after a bearish crossover above the zero line. In order to find the power of the market, we use…