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Even though the pair retains its broader declines activated from the 0.9404 level, it has now triggered corrective upside gains and presently looks to decisively break and hold above the 0.8943 level, its Nov 27?09 low. The pair was seen turning off that level on Tuesday though closing higher. This…

The pair traded almost perfectly into the 76.4% Fibonacci retracement zone (1.0360) where prices sharply reversed at 1.0365. From that low the market reacted very strongly with a move to the upside which suggests that a bullish reversal could be the case here.

The currency market once again came to a halt in overnight trade, during the last full trading session of 2009. On the daily chart, most pairs are trading near important swing points, just waiting for some additional momentum to appear, while the dollar index is again preparing to break above…

The USD is trading higher as stocks decline and worries over sovereign debt risks re-emerge, Moody’s downgrades Abu Dhabi Commercial Bank, UK Telegraph reports that UK debt position is worse than Italy’s, S&P warns of a Japanese rating cut if steps aren’t taken to cut debt, USD trades at two…

Cable has broken below the Support at 1.5881 metioned earlier and is keeping up the bearish sentiment intact. We may expect a further dip towards 1.5750-30 in the coming sessions if it continues to trade lower. The 55-Week MA (currently at 1.5633) is the next significant Support level seen on…

Investors are using this week as an opportunity to relax and enjoy the holiday season, where the volume of trades dropped noticeably during this week, meanwhile, the data released this week didn?t change anything over the outlook for the economy, as the worst recession since WWII seems to have ended,…

The UK fundamental outlook remains bleak. There will be persistent fears over the UK government debt position and further speculation over a credit-rating downgrade during 2010 which will maintain underlying Sterling vulnerability. A key factor will be the combination of political and economic fears and the Bank of England could…

The dollar was poised to post its first monthly gain against the Euro currency since June as it looked to build upon its recently found momentum that has been aided by rising US yields. The shifting outlook for US interest rates has pushed the dollar to two-month high against the…

Dollar/Yen made another wobbly movement on Tuesday, forming divergence on the 3 hour chart. The currency couple continued climbing from 91.53 to 92.07, closing the day at 91.98. Quotes consolidated inside an ascending triangle on the daily chart, indicating that bullish pressure is pushing the Dollar up against the Yen,…