Stocks and Dollars

In the aftermath of the Greek vote, Asia traded mixed at the start with a quick peek above the overnight high in EURUSD running out of steam and retracing some 50 points. However, greater risk appetite and firmer Asian equities soon saw a re-test of highs, and beyond. Stops through

On Wednesday Pound/Dollar increased with 110 pips, forming new weekly upward channel, in converse with the negative Interbank sentiment at almost -16%. The Cable appreciated from 1.5969 to 1.6079 yesterday, closing the day at 1.6059. Today the British Pound extended its gains further, rising up to 1.6119. On the 1

The EUR climbed for a fourth day against the USD on expectations that the European Central Bank may climb interest rates at its meeting next week to curb inflation. According to a survey the 17-nation region’s inflation rate has gained 2.8 percent comparing with a 2.7 percent climb in May.

EUR/USD closed higher on Wednesday and the high-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI are turning bullish signalling that sideways to higher prices are possible near-term. Closes above the reaction high crossing would confirm that a short-term low has been

EURUSD Resumes uptrend from 1.4100 after yesterday’s sharp pullback from 1.4450 found ground above 1.4300 support. Fresh gains through 1.4496, 14 June high, have so far reached 1.4517, as correction on overbought hourly 4-hour conditions looms. Immediate support lies at 1.4460/50 zone, ahead of trendline support at 1.4420, where

Dollar Yen eases down on the weaker tone of the US dollar from comments from Moody’s Investor Services saying that it would likely reduce the U.S. credit rating to Aa range in the event of a default if the senate fails to reach an agreement on raising the US deblt

In line with Wednesday’s bullish call for EURUSD sentiment, a third positive daily performance in succession confirmed the break of the trend of lower daily highs. Like the preceding two days initial losses were sharply reversed and the underlying tone is emphasised by positive momentum.

GBPUSD The pair has failed to follow through higher on the back of its Wednesday gains and tumbled lower wiping out those gains early trading today. With GBP dominated by its bearishness triggered from the 1.6745 level, its 2011 high, a return to the 1.5911 level, its Jun 26’2011