AUDUSD formed a cycle bottom at 0.8858 level on 4-hour chart. Now the rise from 0.8858 could possibly be resumption of uptrend from 0.8066 (May 25...
AUDUSD formed a cycle bottom at 0.8858
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EUR/JPY on the slide
Early Tokyo has taken a dislike to EUR/JPY, selling it down from 137.70 to 137.30. Those players caught long at the wrong levels might be bailing out and reassessing as this pair has certainly come quite a long way in a relatively short space of time. GBP/JPY has also met with some early selling,...
Australia May employment -1700 s/adj, much better than expected
Australia employment -1700 jobs, much better than the forecast of -30,000. The unemployment rate for May 5.7%, as expected. AUDUSD jumps immediately from 8045 to 8080. The jobs number is much much better than expected and should act as support for AUD...
Tote Hose
A great German expression which literally means “dead trousers”. When applied to the FX market, tote hose means that absolutely nothing is going on. Who says that you don’t learn anything in the FX market. By the way, Die Toten Hosen is a German punk band from my old arbeitsplatz...
FOREX VIDEO | NEW YORK SESSION REVIEW | June 11, 2009
Inter-market correlation pointed to a rally on the EUR/USD currency pair during the first 30 minutes of today’s US equity market session. The rally broke a downtrend line, and a conservative long trade entry came in the form of a re-test of that former source of resistance. A 60-pip profit...
Rwanda Central Bank Lifts Rate 50bps to 6.50%
The National Bank of Rwanda raised its key repo rate 50bps to 6.50% from 6.00% previously, with the interbank interest rate...