EUR/USD Mid-Day Outlook
EUR/USD'[s fall from 1.2921 extends further to as low as 1.2735 so far today. The break of 1.2776 minor support indicates that choppy recovery from 1.2587 is finished at 1.2916 already. With 1.2921 resistance intact, fall from 1.3330 is still expected to continue. Intraday bias is mildly on the downside
Date: 09/07/2010 Hour: 01:23:13 PM
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GBP/USD Mid-Day Outlook
GBP/USD's break of 1.5326 indicates that fall from 1.5997 has resumed. Intraday bias is back to the downside and further fall should be seen to 1.5123 cluster support (50% retracement of 1.4230 to 1.5997 at 1.5114). Decisive break there will confirm our bearish view that rise from 1.4230 has finished
Date: 09/07/2010 Hour: 01:18:07 PM
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USD/CHF Mid-Day Outlook
Intraday bias in USD/CHF remains neutral for the moment as it's still staying inside tight range above 1.0064. Some more consolidations could still be seen but even in case of another recovery, upside should be limited below 1.0330 support turned resistance and bring another fall. Below 1.0064 will target parity
Date: 09/07/2010 Hour: 01:15:59 PM
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USD/JPY Mid-Day Outlook
USD/JPY drops further to as low as 83.53 in early US session and the break of 83.61/66 support zone indicates that recent decline has resumed. Intraday bias is back to the downside and further fall should be seen towards 80 psychological level next. On the upside, above 84.26 minor resistance
Date: 09/07/2010 Hour: 01:15:09 PM
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GBP/JPY Mid-Day Outlook
GBP/JPY drops sharply to as low as 127.99 so far today and the firm break of 128.63 confirms that recent decline from 137.73 has resumed. Intraday bias is now on the downside and further decline should be seen to test 126.73 low next. On the upside, in case of recovery,
Date: 09/07/2010 Hour: 12:54:00 PM
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Mid-Day Report: Euro Remains Broadly Pressured But Passing the Torch to Sterling
Euro remains broadly weak against major currencies, as pressured by a WSJ report that the European bank stress test "understated some lenders' holdings of potentially risky government debt." EUR/USD's break of 1.2776 minor support suggests that recent recovery is finished and the pair is possibly heading back to 1.2587 low.
Date: 09/07/2010 Hour: 12:52:47 PM
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USD/CAD Daily Outlook
As discussed before, rebound from 1.0106 is completed at 1.0671. USD/CAD is still bounded inside sideway trading in range of 1.0106 and 1.0851 with fall from 1.0671 as another leg. Further decline would now remain in favor as long as 1.0470 resistance holds, for 1.0246 and possibly further to 1.0106.
Date: 09/07/2010 Hour: 07:41:24 AM
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AUD/USD Daily Outlook
With 4 hours MACD crossed below signal line, a temporary top is in place at 0.9180 and intraday bias is turned neutral. Some retreat might be seen towards 4 hours 55 EMA (now at 0.9047) but another rise remains in favor as long as 0.8860/9028 support zone holds. ABove 0.9180
Date: 09/07/2010 Hour: 07:40:45 AM
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EUR/USD Daily Outlook
EUR/USD faced strong resistance ahead of mentioned 1.2921 resistance level and drops sharply. Though, it's still holding above 1.2776 minor support and we'll continue to stay neutral first. As discussed before, as long as 1.2921 holds, we'd still expect fall from 1.3330 to resume sooner or later. Below 1.2776 minor
Date: 09/07/2010 Hour: 07:33:17 AM
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GBP/USD Daily Outlook
GBP/USD is staying in consolidations above 1.5326 and intraday bias remains neutral. While some more sideway trading might be seen, upside is expected to be limited by 1.5596 resistance and bring resumption of fall from 1.5997. Below 1.5326 will target 1.5123 cluster support (50% retracement of 1.4230 to 1.5997 at
Date: 09/07/2010 Hour: 07:30:38 AM
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USD/CHF Daily Outlook
USD/CHF is still staying in range above 1.0064 and intraday bias remains neutral. Some more consolidations could still be seen but even in case of another recovery, upside should be limited below 1.0330 support turned resistance and bring another fall. Below 1.0064 will target parity next. Note that we'd anticipate
Date: 09/07/2010 Hour: 07:27:42 AM
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USD/JPY Daily Outlook
USD/JPY dips sharply to as low as 83.82 today but is still holding above 83.66 support and hence, intraday bias remains neutral. On the downside, decisive break of 83.61 will confirm down trend resumption and should target 80 psychological level next. On the upside, above 85.89 will bring stronger rebound
Date: 09/07/2010 Hour: 07:26:51 AM
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EUR/GBP Daily Outlook
EUR/GBP's sharp fall from 0.8389 indicates that a temporary top is in place. Intraday bias is now mildly on the downside and deeper retreat could be seen to 4 hours 55 EMA (now at 0.8283). However, downside should be contained by 0.8235 cluster support (61.8% retracement of 0.8141 to 0.8389)
Date: 09/07/2010 Hour: 07:17:40 AM
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EUR/CHF Daily Outlook
The break of 1.2972 minor support indicates that EUR/CHF's recovery form 1.2850 is finished at 1.3162 already. Intraday bias is flipped back to the downside and further break of 1.2850 will confirm fall down trend resumption. Next downside target will be 100% projection of 1.4587 to 1.3072 from 1.3923 at
Date: 09/07/2010 Hour: 07:16:55 AM
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GBP/JPY Daily Outlook
GBP/JPY drops sharply to as low as 128.76 today but is still holding above 128.63. Intraday bias remains neutral and further sideway trading cannot be ruled out. But after all, upside is expected to be limited below 133.57 resistance and bring resumption of fall from 137.73 sooner or later. Break
Date: 09/07/2010 Hour: 07:13:12 AM
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EUR/JPY Daily Outlook
EUR/JPY's sharp fall today and break of 107.45 minor support suggests that consolidation from 105.42 might be over. Intraday bias is flipped back to the downside. Further break of 106.17 support will indicate that t recent decline is resuming for medium term projection level at 103.45 next. On the upside,
Date: 09/07/2010 Hour: 06:54:20 AM
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Daily Report: Euro Sharply Lower on Banking Worries, Bearish Outlook Retained?
Euro is under renewed pressure as concerns on banking sector of Europe resurfaced. Firstly, German Banking Association said that the countries ten largest banks might need to raise as much as EUR 105b in capital under the proposed Basel II capital and liquidity rules to be finalized today. Secondly, A
Date: 09/07/2010 Hour: 06:53:21 AM
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RBA Said Rates Are Appropriate 'For The Time Being', Signal Of A Hike Soon?
As expected, the RBA left the cash rate unchanged at 4.5% as global economic outlook remained uncertain. Policymakers judged that about-trend growth and inflation in the near-term rendered the setting of monetary policy 'appropriate for the time being'.
Date: 09/07/2010 Hour: 06:36:27 AM
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Mid-Day Report: Sterling Hit Hard on Clearer Sales
Sterling is hit hard in thin market today on speculation of UK clearer sales as speculation of QE extension from BoE. There are talks in the market that a large UK clearing bank bought about a billion euros on concern of UK's contribution to EU's agricultural budget. In additional, recent
Date: 09/06/2010 Hour: 01:07:58 PM
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Central Bank Preview (September 6-10)
The BOJ will maintain its overnight call rate at 0.1% and the lending program announced after an emergency meeting last week. At August 30, the central bank announced it would provide of 10 trillion yen of loans for 6 months, in addition to the 20 trillion yen for 3 months
Date: 09/06/2010 Hour: 10:32:17 AM
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