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Following the aggressive rally to 1.0845 we have entered a messy downside correction that thus far has lasted 10 days. The first leg of this dip finished with the 3 wave decline to 1.0640 before developing a complex interim upside B wave with an irregular pattern to marginal new lows and culminating with the gap higher [...]
Daily Winners and Losers The Swiss franc is the top performer against a stronger dollar in early US trade with the pair virtually unchanged at 11am in New York. Risk appetite remains on the defensive after yesterday’s news of a Greek deal failed to stoke the risk trade with US equities [...]
Morning Notes: EURUSD – “The drop under 13000 probably completed a flat correction from the 1/27 high. The implications are for a sharp rally through the balance of February towards the mid 13000s.” Look for support near 13170/80 in order to get long for the next bull move. Prepared by Jamie Saettele, CMT [...]
DJ FXCM Dollar Index Index Last High Low Daily Change (%) Daily Range (% of ATR) DJ-FXCM Dollar Index 9876.6 9896.68 9834.68 0.40 103.85% The Dow Jones-FXCM U.S. Dollar Index (Ticker: USDollar) is 0.40 percent higher from the open after moving 104 percent of its average true range, and the shift away from risk-taking [...]
During January, gold demonstrated its strongest performance in a single month since August 2011; for silver it was since July 2011. Gold price is currently 10.76% above its price from the end of 2011; silver has added 21.05% to its value. What were the driving forces for this rally in gold and silver during January? [...]
DJ FXCM Dollar Index Index Last High Low Daily Change (%) Daily Range (% of ATR) DJ-FXCM Dollar Index 9770.26 9781.57 9724.83 -0.06 79.83% The Dow Jones-FXCM U.S. Dollar Index (Ticker: USDollar) remains 0.06 percent lower from the open after moving 80 percent of its average true range, and we may see the downward [...]
Trading the News: U.S. ISM Manufacturing What’s Expected: Time of release: 02/01/2012 15:00 GMT, 10:00 EST Primary Pair Impact: EURUSD Expected: 54.5 Previous: 53.9 DailyFX Forecast: 53.8 to 55.5 Why Is This Event Important: The U.S. ISM Manufacturing index is expected to increase to 54.5 in January and the fasters rate of production may spark a bullish reaction in the U.S. dollar [...]
The greenback is slightly softer at the close of North American trade with the Dow Jones FXCM Dollar Index (Ticker: USDOLLAR) off by a fractional 0.9% on the session. Risk appetite quickly subsided at the open after weaker than expected US economic data saw risk assets come off sharply as the dollar pulled back above key support [...]
Daily Winners and Losers The New Zealand dollar is the strongest performing currency against a mixed greenback in early US trade with the pair advancing nearly 0.80 on the session. Risk appetite remained well supported in European trade before weaker than expected US economic data weighed heavily on broader market sentiment, [...]
Euro / Australian Dollar Daily Bars Prepared by Jamie Saettele, CMT After piercing channel resistance yesterday, the EURAUD has rolled over and focus is on the low at 12227. An objective moving forward is 12000, which is psychologically significant as well as a measured level (breakout level – width of consolidation = 12227 – [...]