Posts Tagged “Daily”
Dollar and yen are generally soft against other major currencies as risk appetite dominates markets today. Japanese Nikkei rose 1.81% to close above 10000 at 10067 following 2.1% rally in DOW overnight. Crude oil extended recent rebound and is trading above 77 level for the moment. Dollar index is hovering View full post on Action Insight [...]
The Japanese yen is slightly higher today and is gaining momentum in early European session. Bank of Japan left rates unchanged at 0.1% as widely expected. BoJ announced details of a JPY 3T loan scheme, which aims to get Japan out of deflation and achieve sustainable growth with price stability. View full post on Action Insight [...]
Commodity currencies pare recent gain today as strong inflation data from China prompted speculation of more tightening measures ahead. Headline CPI in China rose 3.1% yoy in May, exceeding the government’s upper range of 3%. Other data were also strong with fixed asset investment surging 25.9% in the first five View full post on Action Insight [...]
There is a clear trend that follows the breakout of the Falling Wedge pattern which completed on Wednesday the 9th. The range is confirmed by two separate Channel Up patterns, the latest significant point being at resistance (B) where a distinctly rounded reversal occurred. Support is expected at various levels View full post on Technical Analysis
Asian markets are generally lifted by solid data today. Japan Q1 GDP was finalized at 5.0% annualized rate, up from prior estimate of 4.9% and expectation of 4.2%. Household confidence rose slightly to 42.8 in May. Australian data showed more than expected 26.9k expansion in the job market in May. View full post on Action Insight [...]
Price refused to obey me… so… the only conclusion that seems logical to me is that while we are still seeing a corrective structure we require a little more recovery before the next downward leg. The current rally should move back to the 0.8356 high where a risk of a View full post on Technical Analysis
I continue to remain basically bearish but for the moment still see range trading potentially in the 108.60-109.80-00 range. Once complete we should see losses below 108.06-32 that should extend through 107.53, 107.20 and 106.25-54 to reach the ideal target around 104.40-60. Cautiously I feel that will be the end View full post on Technical Analysis
Markets are generally staying in tight range as traders await today’s non-farm payroll report from US. Markets expect a 500k expansion in job market in May, which is the strongest growth number in 13 years. However, this is a heavily distorted number, by around 350k temporary hiring for Census. The View full post on Action Insight [...]
The EUR/JPY has lost a good deal of the short-term downside momentum that pushed prices lower from the June 3 high of 114.15, and this rejection shows that buyers are not willing to support prices above 114.00 for now. However, the Falling Wedge pattern alert shows what could be a View full post on Technical Analysis