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Tuesday is starting out to be another one of those when investors turn to the solace of the dollar when they suddenly appear to run out of reasons to buy an alternative. And today is providing a fistful of reasons for the feint-hearted to favor the dollar. Equity prices are…

The GBP/JPY is looks ready to continue its decline after a retracement to the 38.2% (Look at daily). The decline in the 4H time-frame is invalidating prospects of further retracement rally, looking to break the 78.6% retracement level at 139.70. The stochastic also shows the market is at least in…

The USD is trading higher to start the session Tuesday recovering from early overseas losses with the EUR pressured by report of weaker than expected German IFO, GBP pressured by report of weak UK mortgage lending and speculation that the BOE may expand quantitative ease, USD was also supported by…

Asian markets were mixed today as investors eagerly await for Fed Chairman Ben Bernanke’s testimony before Congress tomorrow. Traders are looking for assurance that Thursday’s discount rate hike was not a shift in monetary policy but rather a technical move towards “normalization.” Markets will also pay close attention to the…

No change on Swissy. The pair is still looking for the low of a corrective flat pattern shown in our red wave 2). Recently the pair hit the 61.8% Fibonacci support revel, from where some upside pressure may be seen in the near-term. The next import support zone that traders…

With continued weakness being experienced following its failure at the 92.13 level, its Feb 19?10 high, we look for further downside towards the 89.69 level, representing its Feb 16?10 low. A turn below there is expected to generate further downside pressure towards the 88.54 level, its Feb 04?10 low and…

The pair?s recovery initiated off its 2010 low at 1.5343 lost upside momentum today after hitting an intraday high of 1.5574. The GBP is now seen threatening to weaken further towards the 1.5343 level which also represents its hammer low. On a clearance of that level, GBP will trigger its…

The EUR/CHF has had a 50+ pip move higher as speculation of more SNB buying is on the wires. The pair has hit the 4-100hr moving average where it has stalled  its appreciation in February outside the intervention from the SNB on February 5th.

The Cable has risen towards 1.5575 during the day and has faltered after the German IFO numbers came in to record a low of 1.5396. It is currently trading lower. The pair had rendered itself bearish after it broke below the long term channel Support at 1.55. We had mentioned…