USDCHF broke above 1.0475 resistance, suggesting that a cycle bottom had been formed at 1.0347 level on 4-hour chart. Further rally is still possible...
USDCHF broke above 1.0475 resistance
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Cable comes under heavy pressure
Cable has come under heavy pressure, presently down at 1.6515. Next technical support at 1.6500. Talk of some buy orders lined up down at 1.6500/10. Bloomberg is carrying an article about US banks and toxic assets, which will not be helping sterling, given it’s close tie up with the health of...
Latvia/IMF do not discuss devaluation
Latvia and the IMF did not discuss a devaluation and are trying to maintain the present peg to the euro via a new budget. Swedish banks will breath a short-term sigh of relief. This is modestly EUR supportive, but the focuc is more on US jobs figures at the moment. EUR/USD is quiet at...
Hewlett-Packard Announces Recall of Over 1 Million Fax Machines Due To Fire and Burn Hazards
Hewlett-Packard (NYSE:HPQ) issues a voluntary recall of 928,000 HP fax 1040 and 1050 machines in th eU.S. and 240,000 of the same machines in...
Equity markets turn south, selling flows in EUR/JPY
Both the Kospi and the Australian All Ords were up almost 1% but have now fallen into negative territory. The Nikkei is down 0.25% and Taiwan is down almost 6% in 2 days. Add in to the mix some selling flows out of Tokyo in EUR/JPY and the market has been caught a bit by surprise. As I said earlier...
FOREX VIDEO - Pre London Outlook August 24th 2009
Hi everyone, hope you had a restful weekend. I’m looking forward to a good trading week ahead. For this outlook video, I build on last week’s Pound related analysis with a comprehensive look at Cable and the Pound Yen cross. Although there has been plenty of intraday volatility we have not...