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IMM Positioning – Positioning Risk On EUR/USD Eases

admin — Mon, 12 Jul 2010 18:03:49 +0000

During the week covered by the latest IMM positioning data, USD has weakened more than 2% in effective terms, with EUR/USD breaking well above 1.26 in summer-thin trading and with USD/JPY dropping below 87. The broad-based USD weakening has coincided with speculative investors trimming their net long USD positions, primarily View full post on Technical Analysis

EURGBP: Risk Continues To Point Higher

admin — Thu, 08 Jul 2010 05:06:56 +0000

Continued strength saw the cross rallying strongly on Tuesday and increasing risk of a move higher towards its Jun 20’10 high at 0.8384. This development is coming on the back of a corrective recovery started from the 0.8066 level, its 2010 low. Above the 0.8384 level should push EURGBP further View full post on Technical Analysis

Mid-Day Report: Swiss Franc Lower on Weak CPI, Dollar Soft on Risk Appetite

admin — Wed, 07 Jul 2010 00:39:21 +0000

Swiss Franc is mildly lower today after consumer inflation report. CPI in June dropped -0.4% mom, rose 0.5% yoy versus consensus of -0.1% mom, 1.0% yoy. Recent strength in Swiss Franc was driven by SNB’s message of disappearing deflation risk, which led to exit of intervention. However, SNB has also View full post on Action Insight (All Reports)

AUDUSD: Immediate Risk Points To The Downside

admin — Mon, 05 Jul 2010 13:10:34 +0000

With AUDUSD turning back below the 0.8550/00 levels and creating a technical damage to its nearer term recovery off the 0.8065 level, its 2010 low, risk continues to point to the downside with eyes on its July 01’10 low at 0.8314. A respite may be found there thus turning the View full post on Technical Analysis

Mid-Day Report: Euro Extends Rally as NFP Risk Cleared

admin — Fri, 02 Jul 2010 14:42:29 +0000

Euro extends rally against dollar in early US session as non-farm payroll risk is cleared. Job report in US showed -125k contraction in June, worse than but not far from expectation of -110k. Unemployment rate unexpectedly dropped from 9.7% to 9.5% comparing to expectation of 0.8%. The data had little View full post on Action Insight (All Reports)

$/Swiss, Still Short but Risk Rising

admin — Thu, 01 Jul 2010 20:50:17 +0000

In $/swiss in the Jun 22nd email, affirmed the short position (sold on Jun 15th at 1.1330), and adding that there were no signs of a bottom. The market continued lower from there, plunging below the base of the multi-month bullish channel (see daily chart below, now resistance), and reaching View full post on Technical Analysis

Risk Aversion Dominated Markets, S&P 500 Made New 2010 Low, Dow Closed Below 9900

admin — Wed, 30 Jun 2010 03:52:35 +0000

Market sentiments were hit by two pieces of data from Conference Board today. Selloff in equities was triggered in Asia by downside revision in China leading indicator that sent Shanghai Composite -4.27% lower. European stocks followed with FTSE down -3.1%, DAX down -3.33% and CAC down -4.01%. Selling then intensified View full post on Action Insight (All Reports)

EURUSD – Risk Still See Towards 1.2466 Level

admin — Mon, 28 Jun 2010 11:18:50 +0000

Although price hesitation saw the pair turning off its corrective recovery high at 1.2466 to close the week marginally lower, that level is still being targeted as long as EUR holds above the 1.2208 level, its Jun 23′10 low. Additionally, despite this price action, the pair continues retain a larger View full post on Technical Analysis

EURUSD – Risk Of A Return To 1.2466 Building Up

admin — Fri, 25 Jun 2010 12:22:53 +0000

Though gaining marginally to close higher on Thursday, EUR has potential of returning to the 1.2466 level, its Jun 21′10 high. This is coming on the back of a halt of its weakness from the mentioned level on Wednesday. A firm break above the 1.2466 level will set the stage View full post on Technical Analysis

Mid-Day Report: Risk Aversion Back as Greece CDS Makes Record High, Yen Surges

admin — Thu, 24 Jun 2010 18:28:46 +0000

Risk aversion comes back to dominate the markets today as Greece’s five-year sovereign credit default swaps jumped to new record high above 970 basis point today. Japanese yen is sharply higher with EUR/JPY breaks 110 level while USD/JPY also breaches 90 level. Dollar is mildly higher against other major currencies View full post on Action Insight (All Reports)