Same as yesterday morning, GBP and AUD higher with the USD, EUR and JPY lagging. I have important Fibo support in the EUR/GBP at .8490 which is holding thus far but a break should see a swift test of .8200/50. Both AUD/USD and cable are headed for re-tests of last weeks highs at .8260 and 1.6660 respectively. The AUD/USD is targeting a full 61.8% retracement of the entire downmove to .6010, that comes in at .8375. Good luck today.
Cross plays still the dominant factor
Source: www.forexlive.com
Read more...
Can You Profit From Beer Drinking on Australia Day?
By MoneyMorning.com.au Whether it’s cultural reflection, or a result of the booze wars between the two biggest supermarket chains, the...
Fed not tightening yet but market is…
Two-year note yields are 31 bp higher this afternoon than the were before the employment report. Comments from NY Fed president Dudley suggesting the Fed can rein in its QE policy if the bond back-up is driven by economic optimism (rather than fear of deficit spending) is helping ramp the dollar...
Black Monday: Ancient History Or Imminent Future?
The following article includes analysis from Robert Prechter’s Elliott Wave Theorist. For more insights from Robert Prechter, download the 75-page eBook Independent Investor eBook. It’s a compilation of some of the New York Times bestselling author’s writings that challenge conventional...
China relaxes rules to ease overseas investment
China’s foreign exchange regulator says it will change some rules to make it easier for Chinese companies to invest...
Daily Forex Outlook - FED remains Dovish, USD Weak
U.S. Dollar Trading (USD) was on the back foot as stocks rallied around the world and the Federal Reserve left rates at 0.25% and stating that rates would remain low for an extended period of time. ADP October Employment Report was -203k vs. -188k previously. Also released, ISM Services forecast at...