The EURUSD was volatile earlier today in Asian session, bottomed at 1.3895 but whipsawed to the upside, hit 1.3996. The bias is bullish in nearest term testing 1.4028 and the upper line of the bullish channel. A clear break above the bearish channel could be a threat to the bearish
Daily Technical Analysis
November - 1 - 2010
Foreign Exchange Market Commentary
November - 1 - 2010
EUR/USD closed lower on Friday as it consolidates some of this week’s short covering rally. The mid-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI remain neutral to bearish signalling that sideways to lower prices are possible near-term. Closes below the reaction
Foreign Exchange Market Commentary
November - 1 - 2010
EUR/USD closed lower on Friday as it consolidates some of this week’s short covering rally. The mid-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI remain neutral to bearish signalling that sideways to lower prices are possible near-term. Closes below the reaction
Daily Financial Market Outlook
November - 1 - 2010
There can be little doubt that this week’s focus will be on various central bank policy meetings, most obviously the Federal Reserve’s keenly-awaited decision on a possible second round of asset purchases (so-called ‘QE2′). However, today’s economic data calendar is significant in its own right, with key forward-looking business survey