Stocks and Dollars

The near-term outlook maintains negative tone, with the latest price action attempting through recent consolidation floor at 1.3280/70 zone, as the pair broke below triangle support at 1.3315 and also loses 1.3300 handle. Yesterday’s upside rejection at key resistance zone above 1.3400 renews fears of fresh weakness, with immediate focus

The pair failed to settle above the several resistance levels at 1.3415 and 1.3465, and therefore returned to trade bearishly to currently move within the scope of the downside movement. This move drives us to expect that the pair could decline again in a new attempt to test areas around

The leading European representatives agreed to the payment of a further 8 billion euro credit tranche of the financial rescue budget to Greece. Therefore, the threatening bankruptcy of the debt-ridden Greek state budget has once again been averted, after the transitional government insured the immediate implementation of the agreed savings

The profit taking from last week’s low continued Tuesday with a second positive daily performance in a row. This temporary rally has stalled though with yesterday’s highs not maintained and early minor gains in Asia failing. In view of this our call is Cautiously Bearish below 1.5657. The immediate objective

The USD continued to correct a little lower yesterday, but benefited slightly overnight from disappointment at the euro area announcements on Greece and the EFSF. Better US data of late continues to provide some benefit, though the improvement in US consumer confidence yesterday still leaves it below levels seen in

On Tuesday, the relief rally of risky assets slowed. Monday’s rebound of EUR/USD was already far from convincing and EUR/USD also failed to regain further ground yesterday. Sterling even showed remarkable strength against the euro yesterday. Trading in most euro cross rates will remain erratic going into next week’s EU

Stocks fell and the euro weakened on Wednesday after Standard & Poor’s hit some of the world’s leading banks with a credit downgrade and euro zone leaders’ move to ramp up the regional bailout fund drew …

On Tuesday Euro/Dollar traded within almost 160 pip range. The European currency appreciated from 1.3284 to 1.3442 yesterday, not matching the negative Interbank sentiment projection at bellow -5%, closing the day at 1.3313. This morning the Euro is trading quietly, with movements within yesterday’s range for now. On the 1