Thursday, 2 February 2012

Action Forex

Action Forex

Daily technical outlook

Posted: 02 Feb 2012 12:52 PM PST

The outcome of any serious research can only be to make two questions grow where only one grew before. ~ Thorstein Veblen Good morning. Dollar is back down retesting weekly bottom ahead of tomorrow's NFP Report. USD Index 79.50 remains intact and provided a stable resistance point in the last 3 days. Judging by how things look now, I think there's a good chance to test 78 soon EURUSD Recent decline to 1

Greek debt talks stall amid discrepancies between creditors

Posted: 02 Feb 2012 12:45 PM PST

Hopes of an imminent agreement between Greece and its private bondholders were dashed on Thursday due to the opposition of some of the Greek political leaders towards additional spending cuts demanded by the lenders as well as a disagreement between the IMF and Germany on the involvement of the ECB in the bond swap. Greece’s creditors doubt the country’s ability to carry out all the necessary reforms i

USDCHF stays in a downward price channel

Posted: 02 Feb 2012 12:42 PM PST

USDCHF stays in a downward price channel on 4-hour chart, and remains in downtrend from 0.9594, the price action in the range between 0.9114 and 0.9249 is treated as consolidation of downtrend. As long as the channel resistance holds, we'd expect downtrend to resume, and another fall towards 0.8900 is still possible. Key resistance is at 0.9350, only break above this level could signal completion of the downward

New Home Sales Dip, Orders of Durable Goods Advanced, Jobless Claims Rose

Posted: 02 Feb 2012 12:16 PM PST

Sales of new single-family homes fell 2.2% to an annual rate of 307,000 in December, putting the annual average at 303,000 units. The tally of sales of new single-family homes in 2011 is the lowest on record (see Chart 1). On a quarterly basis, sales of new homes (see Chart 2) have been nearly flat for 2 years. The median price of a new single-family dropped to $ 210, 300, down sharply from a year ago. The inve

Greek debt talks stall amid discrepancies between creditors

Posted: 02 Feb 2012 11:47 AM PST

Hopes of an imminent agreement between Greece and its private bondholders were dashed on Thursday due to the opposition of some of the Greek political leaders towards additional spending cuts demanded by the lenders as well as a disagreement between the IMF and Germany on the involvement of the ECB in the bond swap. Greece’s creditors doubt the country’s ability to carry out all the necessary reforms i

USDCHF stays in a downward price channel

Posted: 02 Feb 2012 11:39 AM PST

USDCHF stays in a downward price channel on 4-hour chart, and remains in downtrend from 0.9594, the price action in the range between 0.9114 and 0.9249 is treated as consolidation of downtrend. As long as the channel resistance holds, we'd expect downtrend to resume, and another fall towards 0.8900 is still possible. Key resistance is at 0.9350, only break above this level could signal completion of the downward

New Home Sales Dip, Orders of Durable Goods Advanced, Jobless Claims Rose

Posted: 02 Feb 2012 11:17 AM PST

Sales of new single-family homes fell 2.2% to an annual rate of 307,000 in December, putting the annual average at 303,000 units. The tally of sales of new single-family homes in 2011 is the lowest on record (see Chart 1). On a quarterly basis, sales of new homes (see Chart 2) have been nearly flat for 2 years. The median price of a new single-family dropped to $ 210, 300, down sharply from a year ago. The inve

Daily technical outlook

Posted: 02 Feb 2012 10:54 AM PST

The outcome of any serious research can only be to make two questions grow where only one grew before. ~ Thorstein Veblen Good morning. Dollar is back down retesting weekly bottom ahead of tomorrow's NFP Report. USD Index 79.50 remains intact and provided a stable resistance point in the last 3 days. Judging by how things look now, I think there's a good chance to test 78 soon EURUSD Recent decline to 1

Greek debt talks stall amid discrepancies between creditors

Posted: 02 Feb 2012 10:47 AM PST

Hopes of an imminent agreement between Greece and its private bondholders were dashed on Thursday due to the opposition of some of the Greek political leaders towards additional spending cuts demanded by the lenders as well as a disagreement between the IMF and Germany on the involvement of the ECB in the bond swap. Greece’s creditors doubt the country’s ability to carry out all the necessary reforms i

USDCHF stays in a downward price channel

Posted: 02 Feb 2012 10:42 AM PST

USDCHF stays in a downward price channel on 4-hour chart, and remains in downtrend from 0.9594, the price action in the range between 0.9114 and 0.9249 is treated as consolidation of downtrend. As long as the channel resistance holds, we'd expect downtrend to resume, and another fall towards 0.8900 is still possible. Key resistance is at 0.9350, only break above this level could signal completion of the downward
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