Stocks and Dollars

As the end of this week approaches, markets started to correct some of the losses incurred through the week, where investors started to close their bearish positions ahead of the coming week, before the G8 summit, which is taking place in the U.S, the thing that supported the euro to

As dollar’s recent rise has gathered momentum after breaking previous resistance at 0.9335, adding credence to our view that correction from 0.9595 has ended at 0.8931 and the upmove from 0.8931 low should extend further gain to 0.9540-50, however, recent high of 0.9595 should hold on first testing. Looking ahead,

GBP: The British pound also rebounded from 1.5732 low in part due to improved risk appetite (on back of recovery in Dow future), weekend profit-taking also helped lifting cable from lows, however, offers from various parties (including U.S. big names) are lined up from 1.5850 up to 1.5890 with some

GBP: The British pound also rebounded from 1.5732 low in part due to improved risk appetite (on back of recovery in Dow future), weekend profit-taking also helped lifting cable from lows, however, offers from various parties (including U.S. big names) are lined up from 1.5850 up to 1.5890 with some

GBP: The British pound also rebounded from 1.5732 low in part due to improved risk appetite (on back of recovery in Dow future), weekend profit-taking also helped lifting cable from lows, however, offers from various parties (including U.S. big names) are lined up from 1.5850 up to 1.5890 with some

GBP: The British pound also rebounded from 1.5732 low in part due to improved risk appetite (on back of recovery in Dow future), weekend profit-taking also helped lifting cable from lows, however, offers from various parties (including U.S. big names) are lined up from 1.5850 up to 1.5890 with some

Intraday bias in USD/JJPY remains on the downside for the moment. Sustained trading below 61.8% retracement of 76.02 to 84.17 at 79.13 should target 75.56/76.02 support zone next. On the upside, break of 80.54 resistance is needed to signal short term bottoming. Otherwise, near term outlook will remain bearish even in case of recovery.

Intraday bias in USD/JJPY remains on the downside for the moment. Sustained trading below 61.8% retracement of 76.02 to 84.17 at 79.13 should target 75.56/76.02 support zone next. On the upside, break of 80.54 resistance is needed to signal short term bottoming. Otherwise, near term outlook will remain bearish even in case of recovery.