Tuesday, 14 February 2012

Action Forex

Action Forex

Daily technical outlook

Posted: 14 Feb 2012 12:52 PM PST

"Buy when there's blood in the streets, even if the blood is your own." ~ Baron Rothschild Good morning. Euro recovered today as Greece passed austerity vote, at the cost of exteme violence and riots in Athens. Hence the dollar is trading lower, around Friday's opening price. USD Index Dollar opened lower today, erasing Friday's gains. Downside still in focus EURUSD Upside returns in focus after Asian

Markets shake off Moody’s EU downgrades

Posted: 14 Feb 2012 12:46 PM PST

Despite the fact that on Monday Moody’s rating agency downgraded 6 Eurozone countries and put three others on negative outlook, the Tuesday European trading session passed in relative calm. Markets opened mixed, but soon they began to post gains, due to better than expected results of the German ZEW economic sentiment as well as successful debt auctions held in Italy and Spain. The EUR/USD, which during th

USDCAD pulled back from 1.0038

Posted: 14 Feb 2012 12:40 PM PST

After breaking above the upper line of the price channel on 4-hour chart, USDCAD pulled back from 1.0038. Range trading between 0.9925 and 1.0038 would likely be seen in a couple of days. As long as 1.0038 level holds, the price action in the range could be treated as consolidation of the downtrend from 1.0318, and one more fall to 0.9800 is still possible. On the other side, a break above 1.0038 will confirm that

Different Measures of Unemployment, but Consistent Story is Visible

Posted: 14 Feb 2012 12:18 PM PST

The civilian unemployment rate declined to 8.3% in January from 8.5% in the prior month and is noticeably lower than the year ago reading of 9.1% (see Chart 1). The jobless rate in the Great Recession peaked at 10.0% in October 2009. The elevated unemployment after ten quarters of economic growth remains one of the top concerns of the Fed. Frequently, measures of unemployment different from the headline number are

Markets shake off Moody’s EU downgrades

Posted: 14 Feb 2012 11:47 AM PST

Despite the fact that on Monday Moody’s rating agency downgraded 6 Eurozone countries and put three others on negative outlook, the Tuesday European trading session passed in relative calm. Markets opened mixed, but soon they began to post gains, due to better than expected results of the German ZEW economic sentiment as well as successful debt auctions held in Italy and Spain. The EUR/USD, which during th

USDCAD pulled back from 1.0038

Posted: 14 Feb 2012 11:41 AM PST

After breaking above the upper line of the price channel on 4-hour chart, USDCAD pulled back from 1.0038. Range trading between 0.9925 and 1.0038 would likely be seen in a couple of days. As long as 1.0038 level holds, the price action in the range could be treated as consolidation of the downtrend from 1.0318, and one more fall to 0.9800 is still possible. On the other side, a break above 1.0038 will confirm that

Different Measures of Unemployment, but Consistent Story is Visible

Posted: 14 Feb 2012 11:19 AM PST

The civilian unemployment rate declined to 8.3% in January from 8.5% in the prior month and is noticeably lower than the year ago reading of 9.1% (see Chart 1). The jobless rate in the Great Recession peaked at 10.0% in October 2009. The elevated unemployment after ten quarters of economic growth remains one of the top concerns of the Fed. Frequently, measures of unemployment different from the headline number are

Daily technical outlook

Posted: 14 Feb 2012 10:52 AM PST

"Buy when there's blood in the streets, even if the blood is your own." ~ Baron Rothschild Good morning. Euro recovered today as Greece passed austerity vote, at the cost of exteme violence and riots in Athens. Hence the dollar is trading lower, around Friday's opening price. USD Index Dollar opened lower today, erasing Friday's gains. Downside still in focus EURUSD Upside returns in focus after Asian

Markets shake off Moody’s EU downgrades

Posted: 14 Feb 2012 10:46 AM PST

Despite the fact that on Monday Moody’s rating agency downgraded 6 Eurozone countries and put three others on negative outlook, the Tuesday European trading session passed in relative calm. Markets opened mixed, but soon they began to post gains, due to better than expected results of the German ZEW economic sentiment as well as successful debt auctions held in Italy and Spain. The EUR/USD, which during th

USDCAD pulled back from 1.0038

Posted: 14 Feb 2012 10:39 AM PST

After breaking above the upper line of the price channel on 4-hour chart, USDCAD pulled back from 1.0038. Range trading between 0.9925 and 1.0038 would likely be seen in a couple of days. As long as 1.0038 level holds, the price action in the range could be treated as consolidation of the downtrend from 1.0318, and one more fall to 0.9800 is still possible. On the other side, a break above 1.0038 will confirm that
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