As the single currency has rebounded after holding above yesterday’s low at 0.8165, adding credence to our view that a temporary low is likely to be seen soon and consolidation with mild upside bias is seen for retracement to 0.8305 (38.2% Fibonacci retracement of 0.8532 to 0.8165), above would extend
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Trade Idea Wrap-up: USD/JPY – Buy at 85.30
Current breach of intra-day resistance at 85.80 adds credence to our view that a temporary low has been formed at 84.72 and mild upside bias remains for this near term rise to bring retracement of recent decline to resistance at 86.25/30, above there would extend gain towards 86.40/45 (50% Fibonacci
Trade Idea: EUR/GBP – Sell at 0.8350
As the single currency has remained under pressure, suggesting bearishness remains for the decline from 0.8532 top to extend weakness to 0.8190/00, however, a sustained breach below there is needed to add credence to our view that the rebound from 0.8067 has ended at 0.8532 as wave 4, then further
Trade Idea: EUR/JPY – Sell at 111.40
The single currency extended this week’s decline and broke below support at 110.02, adding credence to our view that wave 4 correction has possibly ended at 114.74 and although price has recovered from 109.24, upside should be limited to 111.00/05 (38.2% Fibonacci retracement of 113.95 to 109.24) and renewed selling
Fed Decision Critical For The Dollar
The FOMC meeting and statement on Tuesday will be pivotal for short and medium-term dollar direction. The dollar will weaken sharply if there is additional quantitative easing by the Fed
Market May Be Disappointed By FOMC Deliveries
Chinese housing prices rose 10.3% from a year ago in July, which is down from 11.4% in June.
FOMC Preview – Risk of Dashed QE2 Hopes?
The recent paper by FOMC voting member Bullard, the continued stream of weak initial jobless claims numbers and Friday’s disappointing July US employment report are all adding fuel to the market’s anticipation of a move by the US Fed into Quantitative Easing, Part II at Tuesday’s meeting. Those who are
Trade Idea Update: EUR/USD – Buy at 1.3250
Euro’s near term sideways trading is expected to continue and the flat Kijun-Sen adds credence to this view, although mild downside bias is for retracement to this line is likely, renewed buying interest should emerge above previous resistance at 1.3236 and bring rebound later.












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