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Daily Report: Sterling Lower ahead of BoE Minutes, Yen Steady

admin — Wed, 18 Aug 2010 10:34:01 +0000

Sterling was the only major currency that failed to participate in this week’s risk rally so far. And indeed, the pound has weakened quite noticeably against dollar, euro and swissy. Euro’s rebound on bond auctions was one of the major factors. But sterling’s weakness could also be attributed to the View full post on Action Insight (All Reports)

Daily Report: Dollar in Range ahead of Non-Farm Payroll

admin — Fri, 06 Aug 2010 09:45:56 +0000

Dollar is staying in tight range as traders await July’s Non-Farm Payroll report today. The headline number is expected to show -75k contraction in the job market while private jobs are expected to grow by 80k. Nevertheless, the range of expectation is wide from 20k to 150k and the main View full post on Action Insight (All Reports)

Daily Forex Update: GBP/CHF

admin — Tue, 13 Jul 2010 10:15:26 +0000

The short-term intraday time frames for the GBP/CHF have started to transition to more sideways market cycles. This comes after a month-long sell-off on the daily time frame, which carried prices down to a double-bottom with lows at 1.5790 and, during Monday’s session, 1.5833. These lows have been established over View full post on Technical Analysis

Daily Report: Dollar Building Strength to Extend Rebound

admin — Tue, 13 Jul 2010 09:29:12 +0000

Dollar is gathering some strength in early European session and is set to extend this week’s recovery against major currencies. Yen is also following after China stocks slumped -1.5% on comments from China Banking Regulatory Commission that banks should "strictly implement" curbs on loans to multi-home buyers to prevent speculative View full post on Action Insight (All Reports)

Daily Report: Dollar Pressing Trend Line Support, Reversal or Penetration?

admin — Fri, 09 Jul 2010 11:24:37 +0000

Risk rally is still the major driving force in the forex markets with dollar and yen generally under pressure. European stocks open mildly higher following broad based rally in Asian equities while crude oil is also firm above 75 level. On the other hand, dollar index is soft below 84 View full post on Action Insight (All Reports)

Daily Report: IMF Raised Global Forecast, ECB and BoE in Focus

admin — Thu, 08 Jul 2010 11:52:57 +0000

Japanese yen is sharply lower today as Asian equities soar following 2.82% rally in DOW overnight. IMF raised forecast of global growth from April’s projection of 4.2% to 4.6%. Though, growth for 2011 was unchanged at 4.3%. The IMF report stated that "The new forecasts hinge on implementation of policies View full post on Action Insight (All Reports)

Daily Report: Dollar and Yen Mildly Higher as Asian Stocks Retreat

admin — Wed, 07 Jul 2010 12:22:00 +0000

Dollar and yen are mildly higher as Asian equities pare this week’s gain. Nikkei’s recovery lost momentum, following late selling in US stocks and drops slightly by -0.63% today. Crude oil failed to take out 74 level overnight and is hovering around 72 level now. Dollar index also manages to View full post on Action Insight (All Reports)

The Daily Wave Analysis

admin — Tue, 06 Jul 2010 09:40:22 +0000

The situation practically has not changed. Wave formation [iii] of A presumably comes to the end. For its end the price needed to generate a wave [5] of v of (v). If the assumption is true, it is possible to count on one more throw of pair downwards then the View full post on Technical Analysis

Daily Report: Markets in Tight Range with US on Holiday

admin — Tue, 06 Jul 2010 01:03:12 +0000

Markets are quietly staying in tight range today. Asian stocks were mixed with little reaction to Friday’s job data from US. Crude oil is staying in tight range above 72 level which gold is hovering around 1210. Dollar index also consolidates between 84 and 85. SNB President Hildebrand said that View full post on Action Insight (All Reports)

GBP/JPY: A Pullback after Double Top; Price Action Volatile but Within Daily Range

admin — Fri, 02 Jul 2010 19:01:34 +0000

The GBP/JPY completed a double top ahead of today’s NFP release at 8:30AM ET. This double top suggests a decline, but it can also be a flat correction to be followed by continuation. Normally, I would be looking at the pullback to see if it can be rejected. A pullback View full post on Technical Analysis