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The EUR has managed a decent correction higher in London hours supported by a better tone in equity markets. Spain’s IBEX has managed to push almost 1% higher, the Athen’s Composite is still out of favour its decline has been limited to just 0.19% at present. Cleary the issues surrounding…

The USD consolidated during the European morning following weekend comments from the European finance ministers to assure their G7 counterparts that the euro zone’s debt crisis was under control. The EU stated that they would make sure that Greece sticks with its budget cutting plans. Dealers seen to note that…

Dollar/Yen at first traded hesitantly on Friday, than bears took over the race and the currency couple declined down to 88.83, closing the week at 89.19. Today the USD/JPY is moving quietly because of economic data absence. In the appearance of next catalyst events our expectations are for the Yen…

‘We expect and we are confident that the Greek government will take all the decisions that will permit it to reach that goal,’ Trichet said. A statement made earlier, but reiterated by EU members of the G7 this weekend. In addition, EU members spent time trying to reassure non-EU members…

EUR/USD-market strategy indicates buying levels from the $1.3713 To strengthen our analysis; we use many other indicators, starting with MACD (Moving Averages convergence divergence); we notice the MACD lines in a bullish direction and crossing below the zero line. In order to find the power of the market, we use…

EUR/USD is in a downtrend, after peaking at 1.5146 (Nov.25,2009). Technical indicators are neutral, and trading is situated below the 50- and 200-Day SMA, currently projected at 1.4793 and 1.4169.

Although the single currency rebounded after Friday’s selloff to 120.70, a firm breach above resistance at 123.33 (Friday’s high) is needed to signal the wave v of the c leg from 134.37 has possibly ended there and bring correction of recent decline towards 124.45 (wave iii trough), otherwise, retest of…

Despite falling to 0.8578 last Friday, the rebound from there suggests the minor wave iii of recent C leg decline from 0.9331 has possibly ended there and consolidation would take place in wave iv and recovery towards 0.8846 (38.2% Fibonacci retracement of wave iii from 0.9280 to 0.8578) would be…

The single currency extended recent decline as suggested in our previous update, reinforcing our bearish count that wave v, wave (c) of wave C as well as larger degree wave (B) has ended at 1.5145 and our indicated downside target at 1.3747-48 (previous support and 61.8% Fibonacci retracement of 1.2885…

The greenback met renewed selling interest at 91.28 and extended the b leg of wave (2) from 93.78 towards our indicated downside target at 88.24-32 (61.8% Fibonacci retracement and previous support), however, reckon chart level at 87.36 would contain weakness and bring c leg of wave (2) later.