Stocks and Dollars

The EURUSD was still able to maintain its bearish bias yesterday and hit 1.2654 earlier today. There are no changes in my technical outlook. The bias remains bearish in nearest term testing 1.2625 – 1.2586 region as a part of the bearish scenario after broke below the descending triangle and

The AUD/USD continues to fall precipitously. It is now testing the support pivot established in December 2011, after which them pair pushed to parity, and eventually developed a bull run all the way up to 1.0850.

The Japanese yen is gaining sharply today. There is risk aversion, and JPY is gaining from safe have flow, while commodity currencies like the CAD are sliding. But the JPY is on a even strong tear than the greenback, which also gains from safe haven flow but seems to be

The EURO closed lower on Thursday and the midrange close sets the stage for a steady opening on Friday. Stochastics and the RSI remain bearish signalling that sideways to lower prices are possible nearterm. If it extends this month’s decline, January’s low crossing is the next downside target. Closes above

The increasing fears on the Euro zone crisis is keeping the Dollar strong. Yen has also strengthened yesterday. The Dollar Index (81.52) has important Resistance at 81.82 which if broken can take it further up towards 82.50.

EUR/USD Today’s support: 1.2643 and 1.2600(main), where correction is possible. Break would give 1.2582, where correction also may be. Then follows 1.2540. Break of the latter would result in 1.2524. If a strong impulse, we would see 1.2508. Continuation will give 1.2479.

While the price moves In line with expectations. Presumably, the impulse [5] of c of (y) of [ii] is close to completion formation of . If this assumption is correct, after its completion we can expect a downward price movement in line with the impulse formation i of (i).

AUD/USD has continued to bounce around the same low 0.9900 level over the last 24 hours as expected, as the market looks for more information about the state of the European Union and the growing belief that it is more a matter of time before the Greeks either leave the