Your Friend LLC

The US economy continues to show more signs of improvement, where the economy seems to have left the worst recession since WWII behind it, however, challenges still remain ahead, as even though the economy was able to grow during the third quarter by 2.2%, nevertheless, growth is expected to ease…

The overnight session was very quiet in the currency market. The major pairs traded ranged bound, while the pound traded in a very small range, even though the market expected the BoE Monetary Meeting Minutes to spark some activity since it is a report that usually creates volatility. Ahead, the…

With a breach of its Nov 04?09 high at 91.31 seen on Tuesday, threats of further upmove are now expected towards the 92.31 level, its Oct 27?09 high. Another resistance within this area is seen at the 92.22 level, representing its daily 200 ema. Surmounting these two levels will set…

Cable has continued to trade below the 200-DMA (1.6015). Having broken below this MA line yesterday it has turned itself bearish for a further fall towards 1.57-1.56 on a break of immediate strong Support at 1.5866. For today, it has remained ranged between 1.5923 and 1.5976. If it is able…

Fx markets have been exceptionally quiet this morning with EUR/USD and USD/JPY largely unmoved from yesterday’s New York close at the time of writing. The Swiss Franc has noticeably been subject to another bout of weakness. EUR/CHF has session lows below 1.4930 and the market is pondering whether the SNB’s…

The BOE’s minutes for the meeting on December 9-10 unveiled that MPC members have voted unanimously (9-0) for maintaining the policy rate at 0.5% and the asset purchase program by 200B pounds. Policymakers acknowledged improvement in economic outlook and forecast that the country will return to grow in 4Q09. However,…

Price activity may not be anything to write home about this morning but there are still some interesting themes playing out in the fx market. EUR/CHF has dropped lower to the 1.4930 area today as traders continue to play chicken with the SNB. Signs that the Swiss economy continues to…

The ascending movement of the Dollar/Yen continued on Tuesday, from the 91.01 bottom, reaching a peak at 91.87, and closing the day at 91.82. On the 3 hour chart quotes move consistently above 90.20, indicating potential for further bullish impulse with targets towards 92.52. Immediate support is represented by yesterday’s…

EUR/USD is in a broad consolidation, after bottoming at 1.2331 (Oct.28,2008). Technical indicators are neutral, and trading is situated between the 50- and 200-Day SMA, currently projected at 1.4793 and 1.4169. With the recent break below 1.6261, the downtrend has been renewed towards the initial target at 1.4150-70 area. Intraday…