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Chart of the Day - 7/08/2008 - EUR/GBP

posted by jameschen 21 hours ago in EUR, GBP, Technical made popular 13 hours ago

Price action on the EUR/GBP daily chart, as shown, has been consolidating in a well-defined symmetrical triangle formation for at least three months now.  read more

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USD/CAD at the Crossroads

posted by DannyBly 20 hours ago in CAD, Technical, Daily made popular 13 hours ago

Looking at USD/CAD, we can see a major bullish SMA crossover on the daily (50 SMA crossing 200 SMA). Price is trading within a major symmetrical triangle, and the minor symmetrical triangle within it provides near resistance to the upside. Moment  read more

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NZD/USD Symmetrical Triangle

posted by DannyBly 1 day 17 hours ago in NZD, Technical, Daily made popular 16 hours ago

Looking at the daily NZD/USD we can see pressure building along the lower trend line of the symmetrical triangle -beneath we have support at the double bottom in the 0.7369 area - adding to the bear case we are trading below the 200 period SMA an  read more

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Euro Heads for Weekly Loss as Economy May Rule Out Rate Rise

posted by MarcB 4 days ago in USD, EUR, Fundamental made popular 1 day 19 hours ago

The euro headed for a weekly decline against the dollar on speculation a worsening European economic outlook will rule out future interest-rate increases.  read more

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Euro-Yen and Pound-Dollar Currency Outlook for the Week

posted by Forex 2 days ago in EUR, GBP, Technical made popular 1 day 19 hours ago

EURJPY: Daily outlook is still flat with oscillators moving lower as Stochastic crossed; 38.2 Fibonacci support proves strong and bears will continue to try to break below to bring towards 30 June low of 166.
GBPUSD: Daily outlook on the downsid  read more

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Canadian Dollar Falls as Price of Oil Decline

posted by nancypants 1 day 22 hours ago in USD, CAD, Oil made popular 1 day 19 hours ago

Canada's dollar fell for a third day, its longest losing streak in almost a month, after the price of crude oil dropped.  read more

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German Industrial Production Surprisingly Declines in May

posted by nancypants 1 day 22 hours ago in EUR, Manufacturing made popular 1 day 19 hours ago

Indicating an economic slowdown in the Eurozone, industrial production in Germany fell unexpectedly in May.  read more

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Korea, India, Vietnam Currency Interventions May Fail

posted by fxhottie 1 day 22 hours ago in Fundamental, Sentimental made popular 1 day 19 hours ago

South Korea, India and Vietnam will fail to halt declines in their currencies by using intervention because their economies are slowing and trade deficits widening, said Morgan Stanley, the second-biggest U.S. securities firm.  read more