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New Home Sales To Disappoint

posted by Avatar forexben 703 days ago in USD, Fundamental, Housing

The S&P 500 once again dipped below the 200DMA as the last couple of hours of the US session – once again – saw all of the action. The resistance at the MA should be tested again today, but we expect the attempt to be unsuccessful. read more
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Sterling gains on UK budget

posted by Avatar forexben 703 days ago in USD, Fundamental, Daily

On Tuesday, the reversal of the risk trade on global markets filtered also through into the currency markets as EUR/USD and USD/JPY drifted lower. However, the losses were not excessive and no important technical levels were hit. read more
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Technical Analysis Daily: GBP/USD

posted by Avatar forexben 704 days ago in USD, Technical, Daily made popular 703 days ago

On Tuesday Pound/Dollar made a deep correction downwards at first, than recovered sharply upwards, in converse with negative Interbank sentiment at nearly -27%. The Cable depreciated to 1.4693 yesterday, than climbed up to 1.4858, closing the day read more
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Budget Action to Nudge Sterling Lower

posted by Avatar forexben 704 days ago in USD, Fundamental, Daily made popular 704 days ago

There will be tough and sustained government action to cut the budget deficit in Tuesday's budget. The policy action will lessen the threat of a credit-rating downgrade which will support Sterling on structural grounds. read more
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FX Thoughts for the Day

posted by Avatar forexben 704 days ago in USD, Technical, Daily made popular 704 days ago

The 55-DMA Resistance (currently at 1.1141) continued to hold in the Asian and the European session today. We may see the pair move in the region of 1.1100-200 in the coming sessions over today and tomorrow on a break slightly above 1.1140, befor read more
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Markets Remain Near Highs In Quiet Trade

posted by Avatar forexben 710 days ago in USD, Fundamental, Daily made popular 710 days ago

U.S. Dollar Trading (USD) mixed data and the lack of major news to move the markets saw consolidation of the recent rally and range trading for most of the day. May Housing Starts sank to 593k vs. 672k previously. May Industrial Output gained 1.2 read more
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Forex and Dow Jones Recommended Levels

posted by Avatar forexben 710 days ago in USD, Technical, Daily

Today's support: - 1.2238, 1.2192 and 1.2157 (main), where correction is possible. Break would give 1.2136 and 1.2098, where correction also may be. Then follows 1.2073. Break of the latter would result in 1.2057. If a strong impulse, we would se read more
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Forex Signals - Jun-7, 2010 - 9:30 AM GMT

posted by Avatar forexben 719 days ago in USD, Technical, Daily made popular 719 days ago

Free Signals EUR/USD Member Signals EUR/USD
Updated at: Jun-7, 2010 - 9:30 AM (GMT)

Buy around 1.1940 (+/- 5 pips).
TP LV1 +30 pips LV2 +50 pips.
Set SL -40 pips. read more
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Holiday Trading Keeps Market Quiet Monday

posted by Avatar forexben 726 days ago in USD, Fundamental, Daily made popular 726 days ago

U.S. Dollar Trading (USD) was buoyed by month end buying of the USD but in general the market was very quiet with the US markets closed for Memorial day. The markets were quite thin and so small orders were moving the market in a whippy fashion t read more
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Daily Forex Update: USD/JPY

posted by Avatar forexben 726 days ago in JPY, Technical, Daily

To comprehend the importance of Japanese Yen within the world of global finance, one needs to understand the Bank of Japan's (BOJ) stance on rates. The stance is uncomplicated: keep rates low, and avoid overtly hawkish statements. read more
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EUR/USD Hits Negative Reversal Targets

posted by Avatar forexben 759 days ago in USD, Technical, Daily made popular 759 days ago

4H: The negative reversal target from Monday was 1.31. A negative reversal occurs when the RSI makes a new high, but the price action does not correct to a new high.

The market is essentially right above that 1.31 target, and the price action read more
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EURUSD: Clears The 1.3200 Level, Eyes The 1.3000 Level

posted by Avatar forexben 759 days ago in USD, Technical, Daily made popular 759 days ago

EURUSD: The pair has finally broken below its 2010 low at 1.3200 level to close lower at 1.3179 on Tuesday. It traded to an intra day low of 1.3140 in early trading today but has turned off that low. Note that we are beaarish on the pair in the m read more