The Cable is undergoing an intense pullback today, dropping beneath all of our previous uptrend lines along with 11/12 lows. The Pound is getting hit by a report from Nationwide and an analyst poll from Bloomberg implying Britian’s housing recovery may be overdone and analysts are expecting a pullback in…
EUR/USD Pulls Back with U.S. Equities
The EUR/USD briefly traded beneath 11/17 lows before stabilizing as we witness a broad based strengthening of the Dollar in reaction to a dip in the S&P futures below their psychological 1100 level. The wave of disconcerting data points from the past couple weeks appears to finally be taking its…
EURGBP: Corrective Recovery Momentum Intensifies
A third-day of upside strength currently seen continues to propel the pair higher following its break and hold above the 0.8896 level on Thursday. It was seen testing its daily 50 ema as at the time of this writing. This development should set the tone for further upside towards the…
Technical Analysis Daily: USD/JPY
Dollar/Yen made an indecisive movement on Thursday, forming divergence on the 3 hour chart, than continued descending from the 89.44 top, closing the day at 88.95. On the 1 hour chart quotes made unconvincing break above 89.40, which indicates bulls’ weakness. Therefore our preferable scenario for now is downwards. Middle…
Daily FX Report
After reaching a low of around 1.77 on November 12th, the GBPAUD started to gain inside a bullish trend channel. Since that time, the market has been moving in a zigzag formation while it gained and touched the resistance level twice at around 1.8175. If the market breaks the lower…