Stocks and Dollars

The bullish structure developed well with a pullback from the top of the 1.0610-30 area that provoked the correction back to just above the 1.0560-70 support. This provided the base for a test to the 1.0672 high. I remain bullish but feel we require a correction before the rally can

Conditional critical level is once again broken, besides, a wave [b] prospective Expanded Flat B of (2) at level of the limiting sizes. It persistently specifies all in necessity of revision of the scenario. The variants considering behaviour of the price will be considered in the near future and published

EUR/USD Today’s support: – 1.2653, 1.2626 and 1.2590(main), where correction is possible. Break would give 1.2574, where correction also may be. Then follows 1.2552. Break of the latter would result in 1.2533. If a strong impulse, we would see 1.2512. Continuation will give 1.2485.

US equities were little changed, consolidating near the month’s low. There was a minor bounce after the better house price data, but the FOMC minutes dampened the mood and the S&P500 closed unchanged. The minutes had a clear dovish tilt, downgrading economic growth expectations, and suggested a willingness to reinvest

The dollar was higher against the pound on Tuesday but lower versus the yen and Swiss franc. The Federal Open Market Committee August 10 meeting minutes, released today, showed that while some Fed officials were concerned the economy was weakening, there was no plan to resume large asset buys and

The US economic reports released were largely mixed with the calendar consisting of the S&P/Case-Shiller home price index, the August Chicago PMI and the August Conference Board’s consumer confidence survey. The S&P/Case-Shiller home price index edged up higher than forecast, rising by 0.28% in June from 0.53% a month earlier.

The Australian economy’s gross domestic product for the second quarter of the year, showed that the pace of growth expanded more than analysts’ expectations for the quarter of April to June 30, as China’s demand for raw materials increased.

U.S. Dollar Trading (USD) very weak Asian stocks helped the USD to intraday highs against most pairs except the other safe havens in the JPY and CHF. US sentiment improved though and stocks were able to finish higher as June House Price Index showed a 4.2%y/y and CB Consumer Confidence