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EURGBP: 2012 Low in Sight?

EURGBP: 2012 Low in Sight?

Jul 23, 2014

The pound fell back this morning after the Bank of England's last policy meeting minutes revealed the MPC was a lot less hawkish than some had anticipated. For example, there were warnings that the outlook for the housing market is slightly less strong, that the MPC sees "tentative signs...

Technical Outlook – Important EUR and GBP Pairs

Technical Outlook – Important EUR and GBP Pairs

Jul 23, 2014

On Tuesday, the pair reversed from a short-term descending trend-channel resistance and dropped to a fresh 2014 lows. Subsequently on Wednesday, the pair continued with its weakening trend to test the lowest level since Nov. 2013. From current levels, the pair seems to continue with its depreciating move towards...

Technical Outlook: Important NZD Pairs

Technical Outlook: Important NZD Pairs

Jul 23, 2014

Yesterday, the NZDUSD again plunged to the multiple support zone of 0.8655 0.8645; however, the pair reversed from the support range during the early hours of today. The Descending trend line on the H4, near 0.8710, can restrict the present up-move of the pair, breaking which it is...

Forex Technical Analysis

Forex Technical Analysis

Jul 23, 2014

The intraday bias is slightly bearish, but I favor a reversal for a break through 101.43 minor resistance, en route to 101.85 area. Crucial on the downside is 101.19.

Dollar/Yen Turns Around, Remaining In Narrow Scope

Dollar/Yen Turns Around, Remaining In Narrow Scope

Jul 23, 2014

On Tuesday Dollar/Yen traded within 30 pip range. The currency couple depreciated from 101.62 to 101.44 yesterday, not matching the positive money flow sentiment at above +8%, closing the day at 101.44. This morning the Dollar is trading quietly against the Yen, with movements at the lower end of yesterday's range for...

Technical Analysis for Major Currencies

Technical Analysis for Major Currencies

Jul 23, 2014

The pair dropped and achieved the first daily closing since February 2014 below 1.3520. A break below the referred to level according to Fibonacci rules is negative, as it favors extending the downside move to test 50% correction at 1.3375.