Who hoards large quantities of high-denomination banks notes? Money launderers, organized crime and drug dealers.
Who benefits? The European Central Bank.
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Think European peripherals are smoked?
Think stock [...]
Price action on GBP/USD (a daily chart of which is shown) as of Friday (7/30/2010) has consolidated above 1.5500, a prior resistance region that was broken to the upside earlier in the week. This occurs within the context of a strong accelerated uptrend extending originally from the 1.4230 area lows in May, and after price [...]
After a week of hard-fought gains and higher lows in the EUR/CAD, the Euro has weakened slightly against the Canadian Dollar and corrected lower intraday. After exhausting at the resistance of the Forecast area between 1.3575 and 1.3603 (F)–which projected the upside target following the Rising Wedge continuation–prices are moving lower in what likely is [...]
By Adam Hewison – The S&P 500 is turning out to be a conundrum for many professionals
and home traders alike. The conflicting information on good earnings,
high unemployment, and other factors continue to batter the market.
One moment the SP500 is heading for the stars and the next, it’s
heading to the cellar.
So what’s a trader to do?
In [...]
USDJPY formed a cycle top at 88.11 level on 4-hour chart. Now the fall from 88.11 is treated as resumption of downtrend from 92.88 (Jun 4 high). Further fall towards 84.82 (2009 low) is expected in next several days. Key resistance is at 88.11, only rise above this level could indicate that lengthier consolidation of [...]
EURUSD
Trading strategy: small long at 1.3050 on hourly close above 1.3045, stop at 1.2980 (0.5% risk), 1st objective at 1.3100, 2nd objective at 1.3200
The euro continues to consolidate into a narrow range around the 1.300 level, therefore the upside remains favored for now but a bullish close above 1.3050 has yet to be seen [...]
What’s on the Economic Horizon
US Unemployment Claims expected to have dropped last Week
German Employment Data Due
UK Housing Prices on deck
United States
Don’t count me out just yet! Yesterday, the disappointing US data tamed risk appetite in markets and boosted the dollar ahead of most major currencies. EURUSD failed another attempt to close above 1.3000 at 1.2986, [...]
What’s on the Economic Horizon
US Unemployment Claims expected to have dropped last Week
German Employment Data Due
UK Housing Prices on deck
United States
Don’t count me out just yet! Yesterday, the disappointing US data tamed risk appetite in markets and boosted the dollar ahead of most major currencies. EURUSD failed another attempt to close above 1.3000 at 1.2986, [...]
Abe Cofnas has been analyzing the Forex market for years. Here is his outlook for today’s action in the Forex market.
USDCHF – This pair is in a retracement from a low of 1.0396 to a high of 1.0641. It is probing a 50% retracement level. A break of 1.0518 is a key support point. A [...]
