Stocks and Dollars

EUR/USD Today’s support: – 1.4442. 1.4378 and 1.4345(main), where correction is possible. Break would give 1.4312, where correction also may be. Then follows 1.4280. Break of the latter would result in 1.4248. If a strong impulse, we would see 1.4219. Continuation will give 1.4198.

Yesterday was almost what I was looking for but that dip to 80.26 was on the extreme side of extreme… If this is to continue its push higher we’ll need a swift break above the 80.85-90 pivot area to retest the 81.26 high… and above there should then imply extension

After touching the intraday high of 1.4538 in the mid-session of NY trading, (3 week high) the euro gave up its gains to 1.4468 as many investors with long positions took their profits and as the dollar gained over the major currencies.

GBP/NZD has just completed the high Quality Falling Wedge chart pattern identified by Autochartist on the daily charts. The Quality of this chart pattern is measured at the 7 bar level as a result of the sharp Initial Trend (measured at the maximum 10 bar level), significant Uniformity (7 bars)

The price continues to creep upwards, reducing chances of the taken scenario. However while critical level isn’t overcome, there is the sense not to change expectations. Presumably, the impulse with of (ii) which within the limits of the prospective complete set is close to end is formed. If the assumption

Euro 1.4475 Initial support at 1.4333 (Jun 29 low) followed by 1.4103 (Jun 27 low). Initial resistance is now located at 1.4551 (Jun 10 high) followed by 1.4653 (Jun 9 high

Today’s economic data calendar is dominated by purchasing managers’ surveys for the month of June. Following the release of Chinese data overnight, the key releases are in the US and UK. In the US, we look for ISM manufacturing report to register a slower pace of expansion. Our forecast stands

The pound fell on two occassion on the chart from the positive gains made by the U.S. dollar today. The rates fell sharply in Europe from the intraday high of 1.6114 to 1.5973 (-141 pips or -0.87%) as the UK Nationwide Housing Pricing Index fell flat unchanged in June 11th