Positive equity and commodity markets had a strong influence in the foreign exchange arena on Monday, sending the dollar index down to the 75.00 support area once again during the overnight session. The major currencies posted some small declines around the Sunday open, but soon afterwards the market reversed tack…
Monthly Archives: November 2009
GBPUSD: Reverse Higher, Targets The 1.6674 Level
The pair is starting off the week reversing off its intra day low at 6471 level in early trading today. We will want to see further recovery higher beyond the 1.6674 level, its Nov 20’09 high on a daily closing to build a platform for further corrective recovery. If this…
EURUSD: Higher Recovery Aims At The 1.5014 Level
Rising from its past week losses, EUR was seen rallying strongly today reversing all most of its last week losses and clearing the way for further upside towards the 1.5014 level, its Nov 16’09 high. This current rally is consistent with our medium term bullish structure view referenced in our…
FX Thoughts for the Day
Cable has honoured the Support at 1.6460 and has risen during the day. There don’t seem to be too many hurdles on its way up except for 1.6665. Beyond this, the pair may rise towards 1.6750-1.6800 over the course of the week. If 1.6459 seen on Friday turns out to…
GBP/JPY Mid-Day Outlook
GBP/JPY’s recovery continues further and with 4 hours MACD crossed above signal line, an intraday low should be in place at 146.30. Some sideway trading could now be seen and strong recovery to 4 hours 55 EMA (now at 148.66) cannot be ruled out. But after all, upside is expected…