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Technical Analysis – EURJPY hourly: Euro in uptrend versus the yen but correction underway

Posted on November 20, 2013 at 9:22 am GMT

[caption id="attachment_11439" align="alignnone" width="550"] (click to enlarge)[/caption] Euro / yen is an important currency pair that is often used as a proxy for risk sentiment. Rising risk appetite tends to favor the euro, while risk aversion tends to favor the yen. In line with rising risk assets, the euro has posted gains during the past 10 or so trading sessions and managed to post fresh 4-year highs as well. The euro is in a clear uptrend versus the yen, as [..]

Asian Session – Dollar under pressure against euro after Bernanke speaks

Posted on November 20, 2013 at 7:27 am GMT

The US dollar remained weak during Asian trading, with the euro ending the session unchanged at 1.3540 against the greenback having traded as high as 1.3584 earlier. The euro crossed a key technical level around 1.3547, after Ben Bernanke’s speech echoed the dovish comments of his nominated successor Janet Yellen. Bernanke said that there was not yet enough improvement in the economy and the labor market in order to start reducing the sum of monthly asset purchases by the Fed. [..]

US Session – Dollar mixed on Chinese yuan convertibility proposals

Posted on November 19, 2013 at 8:46 pm GMT

The dollar was mixed as it rose against the yen but fell versus the euro, in a session during which the market had a chance to reflect on recent news and developments. One story that influenced the market was the news that China was planning to widen the trading band of its own currency so as to intervene less to determine its value. According to the recent Chinese Communist party policy meeting, the markets would play a bigger role in [..]

European Session – Dollar rebounds against euro as market digests Fedspeak

Posted on November 19, 2013 at 1:42 pm GMT

The dollar managed to post some gains during the European session. The market was digesting the sometimes conflicting signals sent by Federal Reserve policymakers. Fed President nominee Janet Yellen for example was quite dovish in her remarks during the previous week, whereas the previous day, New York Fed President William Dudley sounded relatively more upbeat about the US economy. The euro fell 0.13% against the dollar to trade at 1.3500. The main economic news of the day was the German [..]

Technical Analysis – Euro trends up in 4-hourly chart; attempts to turn tables on US dollar

Posted on November 19, 2013 at 9:41 am GMT

[caption id="attachment_11411" align="alignnone" width="550"] (click to enlarge)[/caption] Following the 1.3295 low on November 7th, the euro has been rallying and trying to reverse the sell-off that drove it all the way down from 1.3830 (October 25th). Currently the euro has been in an uptrend, making higher highs and higher lows since the November 7th low. This uptrend would be confirmed if the key 1.3547 level (Resistance 1) is convincingly taken out. This is the high from November 6th, before the [..]

Asian Session – Dollar loses some ground, RBA optimism helps AUD

Posted on November 19, 2013 at 7:29 am GMT

The dollar posted modest losses versus both the euro and the yen during Tuesday’s Asian session. A possible reason behind the dollar’s weakness was the market’s expectation that the Federal Reserve would keep pumping monetary stimulus at the same pace it has been doing during the past months. The yen managed to keep the dollar under 100 yen, as the dollar lost 0.20% to trade at 99.78. Some mild profit-taking in risk assets may have helped the yen, as the [..]

US Session – Majors little changed as risk appetite increases

Posted on November 18, 2013 at 8:38 pm GMT

The US dollar traded little changed against the euro, as the single currency shed 0.07% to trade at 1.3499 – just under 1.35, a level which proved a focal point for today’s trading in the pair. The pound gave up a little ground versus the US dollar, dropping 0.06% to 1.6094. In Fed speeches, William Dudley, President of the New York Federal Reserve, said he was getting more hopeful about the US economy and its prospects following recent data releases. [..]

European Session – Euro above 1.35 while pound struggles

Posted on November 18, 2013 at 1:43 pm GMT

The euro managed to post moderate gains against the dollar during the European session, rising 0.13% to trade at 1.3509. The euro also climbed against the Japanese yen, rising by 0.21% to trade at 135.19. Currencies that can be described as safe havens such as the yen, found themselves under pressure as the MSCI Wold index, a global benchmark of equity performance, traded at its highest since December 2007. The German Dax index hit a new all-time high. There was [..]

Forex News – What to expect in the week ahead: focus on Fed, BOJ, BoE

Posted on November 18, 2013 at 12:06 pm GMT

It will be a relatively quiet week in terms of economic releases, with the focus mostly turning to what various central bankers have to say and minutes from monetary policy meetings. At the start of the week on Monday, the National Association of Home Builders index for November will be released in the United States and it will be watched for signs of stabilization in the construction sector. Following a peak of the index in August, it subsequently declined somewhat [..]

Technical Analysis – S&P 500 already at all-time highs looking to 1800-1850 next

Posted on November 18, 2013 at 9:17 am GMT

[caption id="attachment_11347" align="alignnone" width="550"] (click to enlarge)[/caption] The S&P 500 is the most widely followed stock market index in the world as it tracks the performance of the US stock market. Therefore, it is an important indicator of investors’ risk appetite in the world’s most important market, which can have a major effect on a big variety of assets in different countries. The S&P 500 smashed its previous pre-crisis all-time high of October 2007 of 1576 this year and managed [..]

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