By Fast Brokers - The Cable’s intraday rally topped out at our 1.6679 resistance, or October 30 highs, as we anticipated...
GBP/USD Experiences Profit-Taking Despite Stronger Than Expected Services PMI
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EUR/GBP long term technicals
The 61.8% Fibo at .8490 should provide initial support but a break below there will target an interim low at .8260, which also coincides with the long term trend line. The previous important low at .8635 is now the first level of resistance with little behind there until...
Order Books
A quick chat with some of the local dealers shows that there are not too many orders close to the market this morning; Heavy buying interest in USD/JPY at 97.25/50 EUR/USD buy orders at 1.3800/10 and sell orders 1.4040/65 A lot of weaker trailing stops were taken out below .7875 in the AUD/USD in...
“Real-Forex” market review
**For the traders who entered the transaction suggested for the EUR/CAD, the pair reached the first degree for a “Take Profit”, at...
The Chrysler-Fiat Ordeal Shakes The Market
After gathering some positive momentum at the end of last week from US employment data, the US Dollar now faces a new ordeal. As the US Supreme Court attempts to block the sale of Chrysler to Fiat, recently gained confidence in the US economy has begun to show signs of wear. Forex traders may see...
Reflation deflation
The crowed reflation trade is coming a cropper with forced liquidation the theme of the morning. EUR/USD stops have been triggered below 1.40 and barriers have given way at 1.60 in cable. Same story in commodities, equities and bonds today with big reversals seen across the board as the first move...