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Wednesday, January 1, 2014

AUD/USD Technicals - Early Bears Overextending On China PMI

No surprises for AUD/USD in this new year as bears continue to remain firmly in charge. Prices fell to a low of 0.8886 on open, led by the disappointing Chinese PMI Manufacturing number that was released on New Year's Day. The weaker than expected growth rate seen in China's manufacturing



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GBP/USD Technicals - Biggest Gainer In H2 2013 Leading 2014 Charge

Within USD majors, the most bullish one appears to be GBP/USD. It seems that Cable bulls have brought 2013 bullishness with them into 2014, with prices climbing higher on market open despite USD strengthening against most other majors (see AUD/USD and EUR/USD). The reason for this strong bullishness was led



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Market Morning Briefing

Dollar Index (80.122) is yet to break any of the overhead resistances and as a result, is pushed by the bears at every opportunity. It is close to the short term support area of 79.85-95, below which the weakness may take it towards 79.65 and then 79. Holding 79.85-95, it



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EUR/USD Technicals - Bears Claiming First Blood In 2014

Brand new year, brand new trade opportunities await, and the eternal struggle between Bulls and Bears are preparing to start once again as trading volume begin to get back into the markets. Currently, initiative has been given to bears with prices trading lower sharply this morning, potentially confirming the bearish



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Daily Forex Update: EUR/NZD

EUR/NZD recently broke the daily Rising Wedge chart pattern that as earlier identified by Autochartist as you can see form the following chart. EUR/NZD is expected to fall to the target level 1.6461 in the next few trading sessions. The stop-level for this forecast can be placed above the



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Foreign Exchange Market Commentary

THE EURO closed lower on Tuesday and the lowrange close sets the stage for a steady to lower opening when Thursday's night session begins trading. Stochastics and the RSI are turning bullish signalling that sideways to higher prices are possible nearterm. If it extends the rally off November's low, monthly



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AUD/USD - 2013 In Review

The Australian dollar is known for its strong volatility, and taking traders on roller coaster rides, and the currency certainly didn't disappoint in 2013. The Aussie started the year close to the 1.04 level and looked great in early January, climbing just short of the 1.06 line. The currency lost about



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