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EUR/AUD Major Beneficiary of Wednesday’s Data Releases; More Gains Possible

EUR/AUD Major Beneficiary of Wednesday’s Data Releases; More Gains Possible

Apr 23, 2014

The results of the April eurozone purchasing managers' indices surveys were released this morning and on balance they have been better than expected. The headline eurozone services sector PMI rose to 53.1 from 52.2 last month while the manufacturing PMI edged up to 53.3 from 53.0 previously. Significantly for...

Dow Jones – Technical Outlook

Dow Jones – Technical Outlook

Apr 23, 2014

On Tuesday, the Dow Jones Industrial Average (DJIA30) closed off session highs but still managed to rise by 65 points, extending its gains from the previous week. In doing so the index nearly tested its immediate strong resistance near 16,600 area. At the time of writing this report, the...

USDJPY – Sells Off, Target Additional Weakness

USDJPY – Sells Off, Target Additional Weakness

Apr 23, 2014

USDJPY With USDJPY breaking out of consolidation to the downside, there is risk of further weakness. Support lies at the 102.00 level with a breach of here targeting the 101.32 level where a violation will aim at the 100.75 level and then the 100.00 level followed by the...

Forex Technical Analysis

Forex Technical Analysis

Apr 23, 2014

Although the pair is till capped below 1.3836 dynamic resistance and the downtrend from 1.3904 is intact, my outlook is bullish, for a break trough the crucial resistance at 1.3863, en route to 1.3966 high. Initial support lies around 1.3780 area.

Dollar/Yen Strength Ebbs On Steady Euro Zone PMIs

Dollar/Yen Strength Ebbs On Steady Euro Zone PMIs

Apr 23, 2014

On Tuesday Dollar/Yen traded within narrow 30 pip range. The currency couple depreciated from 102.73 to 102.40 yesterday, matching the negative money flow sentiment at nearly -10%, closing the day at 102.58. This morning the Dollar is trading quietly against the Yen, with movements within yesterday's range for...

Technical Analysis for Major Currencies

Technical Analysis for Major Currencies

Apr 23, 2014

The pair is trading weakly as the technical catalysts didn't change since yesterday, whereas the pair is stable above 38.2% correction at 1.3780 levels showing on graph. Stability above the referred to level is positive especially with achieving the positive crossover on Stochastic and RSI stabilizing above line...