The EUR/USD has been consolidating since the start of the week. Here in the 11/30 US session, we have a very sharp corrective rally. This moves the pair above 78.6% retracement at 1.3490, and broke the 1.35 psychological resistance. This sharp move also pushes above the 200SMA, the 1.34 resistance cluster, and now above 1.35.
EUR/USD Pops Up Above 1.35 To Test Declining Channel Resistance
December - 1 - 2011
The Daily Forecaster: USDJPY
December - 1 - 2011
Yesterday’s high was just 3 points above the 78.12 resistance followed by the drop into the 77.22-45 area that was identified as generating a pullback higher. This pullback looks as if it could be a triangle minor risk of a new corrective high around 77.90 before it heads
EUR/USD Lifts On Central Bank Efforts To Stabilize Markets
December - 1 - 2011
On Wednesday Euro/Dollar increased with almost 280 pips on central bank efforts to stabilize markets. The European currency appreciated from 1.3256 to 1.3534 yesterday, not matching the negative Interbank sentiment projection at bellow -4%, closing the day at 1.3444. This morning the Euro is trading quietly, with movements at the
Foreign Exchange Market Commentary
December - 1 - 2011
EUR/USD closed higher due to short covering on Wednesday as it consolidates some of the decline off October’s high. The mid-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI are turning neutral to bullish hinting that a low might be in or