USD/JPY has recovered earlier losses and is pushing higher towards 89 after U.S. Existing Home Sales topped analyst expectations. Therefore, it seems the USD/JPY’s correlative pattern is a combination of investor appetite for the risk trade countering comparatively loose monetary policy from the Fed. Since the Fed and the BOJ…
Category Archives: General Forex
Euro Not Finished Yet
On the one hour Eur/Usd chart above, the market has completed a Short corrective three wave move, labeled as black waves A), triangle B), and C). The bottom of that move was found on Friday at 1.4800, where Euro was bought again against the U.S. currency. The corrections are always…
EUR/USD Rallies Strongly on Positive Flash PMI Data
The EUR/USD has taken advantage of its relative strength on Friday stemming from ECB President Trichet’s hawkish comments. The currency pair has since jumped back up to its highly psychological 1.50 level after of a wave of Flash PMI data that was altogether positive. Therefore, it seems the recovery in…
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…
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…