Weekly Review and Outlook: The Trends Continued. Dollar, Stocks, Yield Rose

18. May 2013 · Comments Off · Categories: Latest Forex News · Tags: , ,

Weekly Review and Outlook The Trends Continued. Dollar, Stocks, Yield Rose While there were some brief setback over the week, the trend in the financial markets were unchanged. Up trend in US equities continued with DOW making another record close at 15354.4 while S&P 500 also had another record lose at 1667.47. FTSE 100 made another five year high at 6723.06 while DAX also closed at another record high of 8389. Nikkei also closed above 15000 handle at 15138.2. US 30 year yield once dipped back to below 3.1 level but managed to close the week higher at 3.165%. 10 year yield moved in tandem and closed the week higher at 1.949%. One important development to note, though, was the sharp decline in gold. Gold traders seemed to be finally giving up which sent comex

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Weekly Review and Outlook: The Trends Continued. Dollar, Stocks, Yield Rose

USDCHF’s upward movement extends to 0.9760

18. May 2013 · Comments Off · Categories: Latest Forex News · Tags: , ,
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Forex Trading: USDCHF’s upward movement extends to 0.9760

USDCHF’s upward movement from 0.9021 extends to as high as 0.9760. Further rise to test 0.9971 resistance is possible next week. As long as 0.9971 resistance holds, the rise from 0.9021 could be treated as correction of the downtrend from 0.9971, another fall towards 0.8500 is still possible after correction.On the upside, a break above 0.9971 will indicate that the long term uptrend 0.7067 (Aug 9, 2011 low) has resumed, then further rise towards 1.1000 could be seen.For long term analysis, USDCHF is in downtrend from 0.9971 (Jul 24, 2012 high). Further decline to 0.8500 area could be expected over the next several weeks.

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USDCHF’s upward movement extends to 0.9760

USD/JPY Ends Week above 103 after Improved UM Consumer Sentiment Data

18. May 2013 · Comments Off · Categories: Latest Forex News · Tags: , ,

Daily Forex Technicals | Written by FXTimes | May 18 13 05:47 GMT USD/JPY Ends Week above 103 after Improved UM Consumer Sentiment Data Consolidation breakout: USD/JPY was consolidating this week between 102.75 and 101.83 with a prevailing bullish trend. The 5/17 US Friday session saw the pair push above 102.75 and close the week above 103, at 103.17. A general range breakout target is about 90 pips (range of the breakout) above the resistance, which targets 103.60-65. Throwback: A throwback could bring the market back to the middle of the broken range with the RSI back to 40 and still be part of an uptrend in the 1H chart. However, if price falls

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USD/JPY Ends Week above 103 after Improved UM Consumer Sentiment Data

AUD/JPY Trades up from a Triangle Support

18. May 2013 · Comments Off · Categories: Latest Forex News · Tags: , ,

Daily Forex Technicals | Written by FXTimes | May 18 13 05:45 GMT AUD/JPY Trades up from a Triangle Support Triangle: After a sharply early April rally to 105.40, AUD/JPY has made a sharp correction down to 98.70. Since then the market has been trading in a triangle, more or less symmetrical around the central area at about 100.75-100.85. Orientation of the moving averages and RSI in the 4H chart shows a market that is in consolidation, non-trending in this time-frame, though we know there is a slight bullish bias from the prevailing trend going back to June 2012. A return toward the middle of the triangle around 100.75 could occur even if the market is

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AUD/JPY Trades up from a Triangle Support

Forex Weekly Outlook May 20-24

18. May 2013 · Comments Off · Categories: Latest Forex News · Tags: , ,
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Forex Trading: Forex Weekly Outlook May 20-24

The US dollar had another impressive week, making significant gains against many currencies. A rate decision in Japan, Ben Bernanke’s testimony, the FOMC Meeting Minutes, and the German Ifo Business Climate are the top events on our calendar. Here is an outlook on the main market movers awaiting us this week.The dollar’s strength came despite weak US data: the Philly Fed Manufacturing Index dropped to -5.2 in May. The negative number joined lower inflation and a disappointing leap in jobless claims to 360K. While an improvement in jobless claims helped the dollar last week, the disappointment didn’t really hurt it. One of the reasons is that a dovish FOMC member became more hawkish, and talked about tapering down QE. The Australian dollar was severely hit across

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Forex Weekly Outlook May 20-24

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