Stocks and Dollars

As the British pound has retreated after faltering below yesterday’s high of 1.5979, suggesting consolidation below there would take place and retracement to 1.5896-97 (38.2% Fibonacci retracement of 1.5762 to 1.5979 and previous resistance) is likely, however, renewed buying interest should emerge around 1.5866-70 (another previous resistance and current level

EUR/USD: The Euro (1.3896) closed higher yesterday as we saw mild risk appetite, post better than expected USD jobless claim data released yesterday. Markets prefer to stay away from higher riskier positions ahead of the FOMC meet due next week. The bias is neutral in nearest term thus going long

EUR/USD: The Euro (1.3896) closed higher yesterday as we saw mild risk appetite, post better than expected USD jobless claim data released yesterday. Markets prefer to stay away from higher riskier positions ahead of the FOMC meet due next week. The bias is neutral in nearest term thus going long

EURUSD Comment: Nothing happening even as Van Rompuy, president of the European Council, suggests a slush fund be established to prop up the Euro when needed. We continue to consolidate in a ‘flag’ formation with yesterday’s close above the nine moving average possibly turning momentum bullish.

EURUSD Comment: Nothing happening even as Van Rompuy, president of the European Council, suggests a slush fund be established to prop up the Euro when needed. We continue to consolidate in a ‘flag’ formation with yesterday’s close above the nine moving average possibly turning momentum bullish.

Despite intra-day marginal rise to 1.3952 (yesterday’s high was 1.3946), lack of follow through buying and the retreat from there suggest consolidation would take place and retracement to the Ichimoku cloud top (now at 1.3858) is likely, however, reckon renewed buying interest would emerge around 1.3815/20 (61.8% Fibonacci retracement of

Despite intra-day marginal rise to 1.3952 (yesterday’s high was 1.3946), lack of follow through buying and the retreat from there suggest consolidation would take place and retracement to the Ichimoku cloud top (now at 1.3858) is likely, however, reckon renewed buying interest would emerge around 1.3815/20 (61.8% Fibonacci retracement of

EURUSD looks confined to the 1.3690/1.4060 range ahead of the FOMC meeting, next week, but there is plenty of scope for volatility within this. Yesterday showed that the USD tone is likely to continue to be risk determined, so even if we get stronger US GDP data, it will be