The US dollarcontinued to thrive through the course of last week as heightened anxiety fromthe Euro region forced a global bid for safety. This cautious positioning remainedthe key theme on Friday at the expense of the Euro, Sterling and commodity bloccurrencies with Spain and Greece once again the key elements. Equities fromboth sides of the Atlantic continued to fall under the weight of generalanxiety from Europe with risk barometers the DOW and S&P500 falling 0.60and 0.74 percent

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FXstreet.com (San Francisco) – EUR/USD bounced from a 4-month low of 1.2641 on Friday and closed…



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A series of statistics published this week are unlikely to ease fears over the eurozone, particularly the release of several manufacturing surveys
Financial Times – Currency Markets News and Data

EUR/USD Moving to the daily graph, the pair has ignored the oversold readings appearing on Stochastic resuming the bearishness. Now, the pair becomes very close to 100% Fibonacci retracement of the upside rally from 1.2625 to 1.3485 and a break of which will bring panic sell-off actions over intraday basis. Ultimately, focus should be now on the psychological level of 1.2500. The trading range for today is among key support at 1.2460 and key resistance at 1.2890. The general trend over short

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We continue our series on weekend posts on trading psychology. Please read our previous posts…



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GBPUSD: 1.5814 Short-Term Trend: downtrend Outlook: Well, I was looking for one more rally twd…



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Gold futures bucked the trend of the broader market and jumped $ 38 or 2.5% on Thursday, the largest percentage increase since 25 October, 2011. S&P fell almost 2% while Stoxx and crude oil both dropped 1.5%. Dollar index rose for 14 consecutive days. The April FOMC minutes revealed that several Fed members were in favour of new actions should economic slowdown become big enough due to U.S. fiscal contraction and European woes. Technically, gold has been in the oversold territory since 8

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Equities Following Wednesday’s sharp drop in Asian stocks, the region rebounded modestly on Thursday. The Nikkei gained .45 to 8876, and the Kospi ticked up .3% to 184, ending a 6-day losing streak. In China, the Shanghai Composite rallied 1.4%, after the government announced a new appliance subsidy, which could boost domestic consumption. Lagging behind, the Hang Seng slipped .3% to 19201, as HSBC shares fell 1%, and the ASX eased .2% to 4158. Panning to the West, European markets skidded, as

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FXstreet.com (San Francisco) – U.S. stocks lost further ground on Friday, with all three indexes…



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There was a try for rebounding this morning above the single currency supporting level against the greenback at 1.2631 which has been the pair formed bottom on 13th of last January but it is still limited below 1.27 but generally the single currency is still suffering from the political risks which are threatening the union after Hollande’s winning in France and the failure of forming a new government in Greece which will be waiting for another parliament elections next month by God’s will.

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Core CPI, by Bank of Canada (BoC) definition, increased in April by 0.4% and 2.1% MoM and YoY,…



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Forex News and Events: In a race for downgrades, rating agencies took action targeting the two most burdened countries in the EMU. Moody’s confirmed today a rumor about the downgrade of 16 Spanish banks after having downgraded four Spanish regions, which added more pressure to the the Spanish economy. The increase in risk was reflected by 4-year Spanish Bonos yields, higher at 5.106% against a previous 4.319%. Fitch took over the Greek front by downgrading the country to CCC, adding that all

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Chart in Focus: Daily GBPUSD The GBPUSD moved lower early in today’s session but pared gains into…



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Outlook: The speed of market responses to developments in Europe is shocking. In technical jargon, the slope of the trendlines is abnormally steep. Krugman has an op-ed in the NYT titled “Apocalypse Fairly Soon” advising the European leaders to stop moralizing and start taking action, and the ECB to abandon the Teutonic obsession with inflation and promote re-liquification of the eurozone economy. Harsh austerity doesn’t work in a recession in which there is no fiscal transfer safety net. The

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The US dollar had a blockbuster week, breaking ground against all currencies apart from from the…



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The Facebook IPO today has temporarily knocked Europe from the headlines as the world’s eyes are focused on the Nasdaq at 1430 GMT/ 0930 ET when Facebook will start trading for the first time. CNBC anchors have been wearing honorary hoodies to mark the occasion so it must be big. I still find it hard to reconcile how FB is worth $ 140 billion when the site is used by both advertisers and cyber bullies, but perhaps I’m missing the point. The point today is that it is the third largest IPO in the

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$ EURUSD What ProAct Forex Target Traders See: We are currently sitting @ 1.2776 after breaking up…



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16:31 (GMT) 18 May No test on 1.2625 for EUR/USD this week, as the Swiss supranational stands his ground – ahead of 1.2700. Despite negative stocks, the EUR has set its weekly range, and looks to head into the weekend on a 1.2700 handle, though we expect lower levels are not quite done yet. In the options market, we heard topside cover buying going through – though not in significant amounts – but this is unlikely to suggest a near term change in sentiment. Cable was hit pretty sharply just

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This is an exclusive update for our Subscribers. We begin a series of trading lessons for our…



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Risk sentiment was seen heading lower overnight as news headlines and macro economic data releases continue to support the general bear market direction that has become more apparent in the last two weeks. Fitch downgraded long term credit in Greece from B- to CCC and this, along with negative data from the US was enough to provide confirmation of the latest downside extension. Concerns over the debt situation in the Eurozone continue to be the main theme, with most of the evidence of the

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First we have seen the critical breaks towards risk aversion. Then we saw the emergence of momentum behind the deleveraging. Will we graduate to the next phase: panic?

DailyFX – Forecasts

The Dow Jones FXCM Dollar Index put in for its first two-day bearish performance in three weeks Thursday and Friday, but this was more a technical development than a trend change.

DailyFX – Daily Briefings

18:11 (GMT) 18 May 18:10 GMT – EUR/USD bounce was blocked in front of the 1.2749/59 zone,now allowing the mkt to drift back toward the 1.2700/665 support zone at this point.  EUR has had a lower close everyday this week, but if it holds above 1.2693 on the close today, it would break that string of lower closes. R.Z R5: 1.2900 * break level R4: 1.2819 * break level R3: 1.2770 intraday level R2: 1.2759 * 16 May high R1: 1.2749 17 May high S1: 1.2700 intraday level S2: 1.2665 17 May low S3:

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GBPUSD breaks below the upward trend line on daily chart, and reaches as low as 1.5732, suggesting…



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It’s probably fair to say that markets are now saturated with negatives regarding Greek exit risks, not to mention China hard landing risks. The AUD has after all fallen by around 6.5% in the last 15 trading sessions. Yet, other than 5yr Sovereign CDS on Spain one would be hard pressed to find many market stress indicators that look heavily overextended and ripe for a major correction. Chart 1 across shows the rolling 20 day sum of Westpac’s Hedge Fund/CTA, Real Money and Sovereign net flows

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