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breaking news

2012-02-09T06:20:00.001-08:00

Jobless claims in U.S. drop 15,000 to 358,000

breaking news

2012-02-09T05:42:00.001-08:00

U.S. stock futures gain after claims, Greek deal

‎# Daily Forex Market Analysis:09-02-2012

2012-02-09T01:08:00.000-08:00

The EUR/USD prices rose to the moving 500 at the 1.3312 level and any positive news concerning the

Greece

‘debts will push it high to reach the top level of the upward channel towards the 1.3320- 1.3355 area, this level represents a good opportunities to enter a sell positions.

As for the key support level lays at 1.3269

http://mbcfx.com/news/news_en09_02.html

Daily Forex Market News & Analysis: 12 August 2011,

2011-08-12T00:54:00.000-07:00

Dear Trader

The Euro climbs, as a rebound in U.S. stocks was taken as a sign that investors may be less wary about holding riskier assets. The euro was also supported, after the European Securities and Markets Authority signaled that France, Spain, Italy and Belgium will impose bans on short-selling from today to stabilize markets.

Interventions by Swiss National Bank and Bank of Japan are putting the Franc and Yen under continuing pressure.

http://www.mbcfx.com/news/news_en.html

Daily Forex Technical & Fundamental Analysis: 29.07.2011

2011-07-29T01:15:00.000-07:00

Dear Trader

The dollar fell against the Japanese yen and dropped against the euro during Asia session, after U.S. lawmakers delayed a vote on a plan to raise the debt limit to avert a default, boosting demand for refuge currencies.

The euro dropped after Spain's Aa2 ratings were placed by Moody's on review for possible downgrade, aggravating euro debt worries especially after Italy sold 10-year bonds at the highest yields in 11 years on Thursday. Therefore, expectations for higher interest rates by European Central Bank are decreasing as a sovereign-debt crisis is spreading among European nations.

http://www.mbcfx.com/news/news_en.html

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2011-07-22T01:44:00.000-07:00

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Daily Forex Technical & Fundamental Analysis: 22.07.2011

2011-07-22T00:55:00.000-07:00

Dear Trader

The euro climbed to a two-week high of $1.4440 before steadying around $1.4390 on Friday after euro-zone officials agreed to a new $157 billion bailout plan for Greece, easing fears that the country's debt crisis would spread. Even with Greece's problems solved temporarilly, the euro still has plenty of other worries to deal with.

And with the approval of the euro zone on a new aid package to Greece, gold retreated to 1580 after achieving at the beginning of this week a record high reaching out 1600 dollars per ounce.

http://mbcfx.com/news/news_en.html

Daily Forex Technical & Fundamental Analysis: 21.07.2011

2011-07-21T00:50:00.000-07:00

Dear Trader

The euro climbed to a one-week high against the dollar, after a report German and France had reached a deal over a Greek aid plan ahead of a key euro-zone summit in Brussels to address the region's sovereign-debt crisis. But markets may remain nervous until the details are revealed.

http://mbcfx.com/news/news_en.html

Learn Forex!

2011-07-13T03:07:00.000-07:00

What Is Forex ?

Forex (Foreign Exchange market) is an inter-bank market that took shape in 1971 when global trade shifted from fixed exchange rates to floating ones. This is a set of transactions among FX market agents involving exchange of specified sums of money in a currency unit of any given nation for currency of another nation at an agreed rate as of any specified date. During exchange, the exchange rate of one currency to another currency is determined simply: by supply and demand – exchange to which both parties agree.
The scope of transactions in the global currency market is constantly growing, which is due to development of international trade and abolition of currency restrictions in many nations.
With the highest rates of information technology development in the last two decades, the market itself changed beyond recognition. FX transactions that used to be the privilege of the biggest monopolist banks not so long ago are now publicly accessible thanks to e-commerce systems.
The key advantage of a FX market is that one can succeed there just by the strength of one’s intelligence .
Another essential feature of the FX market , no matter how strange it might seem,is its stability. Everybody knows that sudden falls are very typical of the financial market. However, unlike the stock market, the FX market never falls. If shares devalue it means a collapse. But if the dollar slumps, that only means that another currency gets stronger. For instance, the yen strengthened by a quarter against the dollar late in 1998. On some days dollar fell by dozens percentage points. However, the market did not collapse anywhere; trading continued in the usual manner. It is here that the market and the related business stability lie - currency is an absolutely liquid commodity and will be always traded in.

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Daily Technical & Fundamental Analysis of the EUR/USD :13.07.2011

2011-07-13T01:25:00.000-07:00

Dear Trader

Concerns about Europe's debt challenges took center stage again Tuesday, when Moody's Investors Service on Tuesday cut Ireland's foreign- and local-currency government bond ratings to speculative or "junk" grade.

The euro stabilized around $1.40, after touching a four-month low around $1.3838. However, the euro is poised to remain vulnerable and remain under downward pressure until we get some clarity about the debt crisis, and the stress test results for 91 of the region's top lenders will be published by the European Banking Authority on Friday.
Dollar bulls are also wary ahead of Fed Chairman Ben Bernanke's semi-annual testimony on the economy and monetary policy before the House Financial Services Committee starting at 1400 GMT. Also, The U.S. dollar has problems of its own, not least the political impasse on lifting the government's debt ceiling, which could result in default if not resolved.

http://www.mbcfx.com/news/news_en.html

Daily Technical & Fundamental Analysis: 04.07.2011

2011-07-04T00:38:00.000-07:00

Dear trader,

Greece was given a batch of European aid consisting of 17 billion dollars, the fact which pushed the euro to rise to its highest level since a month in front of the US dollar at the beginning of the Asian meeting .

The American dollar index, which measures its performance against a basket of major currencies, dropped to the lowest level since a month, scoring 74.111

http://www.mbcfx.com/news/news_en.html

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2011-07-01T08:53:00.000-07:00

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Our clients enjoy No Dealing Desk to trade Forex, Spot Oil, Spot Gold & Silver, Futures & Commodities, Equities and Energy from just one account.

JOIN FREE WEBINARS:

MBCFX organizes every week 30 minutes FREE training courses on how to trade and benefit from the daily $ 4 trillion currency market:

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Daily Technical & Fundamental Analysis: 29.06.2011

2011-06-29T01:09:00.000-07:00

Dear Trader

The gold prices have risen this morning reaching 1507 an ounce thanks to optimism that the Greek parliament will adopt an austerity plan later this Wednesday, which boosted sentiment towards metal and other primary commodities.

Additionally it has a positive impact onto the euro/dollar pair.Today at 3.00 p.m GMT is the release of Pending Home Sales compared with last month; this data will affect the U.S. dollar.
http://www.mbcfx.com/news/news_en.html

Daily Technical & Fundamental Analysis: 28.06.2011

2011-06-28T02:07:00.000-07:00

Dear trader,

Woes about the euro zone are still of concern before a Greek vote on austerity policy expected later this week, we therefore notice the instability of the market movement reflecting investors' confusion.
The EUR/USD prices stop at the 75 average that once breached; the target should be towards 1.4350-1.4377.
Otherwise, should it retreat downwards, we expect to reach the 1.4203 – 1.4250 levels.
http://www.mbcfx.com/news/news_en.html

The EUR/USD 's next target :

2011-06-22T01:01:00.000-07:00

Dear trader,

The European currency jumped Monday night up to the 1.4433 level shortly after the Greek Government won the confidence vote as expected.

Today investors are awaiting FED Chairman Ben Bernanke’s press conference at 5.30 p.m GMT which will focus on the

United States of America

’s growth.

The gold stabilized in Asian trading this morning at the 1545 levels with investors awaiting the result of the Federal Council meeting which may affect the U.S. dollar and henceforth gold.

Additionally, the dollar index, which measures the value of the US currency against a basket of six major currencies, slipped to its lowest level in the week at 74.516 after recording a peak of 76.015 last week.

http://www.mbcfx.com/news/news_en.html

The EUR/USD 's next target :

2011-06-21T01:11:00.000-07:00

The EUR/USD 's next target :

http://bit.ly/ktVUem

Technical & Fundamental Analysis 13.06.2011

2011-06-13T01:05:00.000-07:00

http://www.mbcfx.com/news/news_en.html

Technical & Fundamental Analysis:10.06.2011

2011-06-10T01:08:00.000-07:00

http://www.mbcfx.com/news/news_en.html

Technical & Fundamental Analysis 09.06.2011

2011-06-09T00:45:00.000-07:00

http://www.mbcfx.com/news/news_en.html

The EUR/USD Next Move :

2011-06-08T08:35:00.001-07:00

We notice from the 1-hour chart,the EUR/USD is moving downwards after shaping double tops and the next target should be towards the uptrend line at 1.4557

Technical & Fundamental Analysis: 08.06.2011

2011-06-08T01:02:00.001-07:00

Technical & Fundamental Analysis: 08.06.2011

http://www.mbcfx.com/news/news_en.html

The EUR/USD Next Move!

2011-06-07T09:49:00.000-07:00

The following target for the EUR/USD is 1.4713-1.4723

The EUR/USD Now :

2011-06-07T05:45:00.001-07:00

We notice from the EUR/USD chart that the prices have tested more than 3 times the 1.4656 resistance level , and the pair is waiting for Benbernanke’s press conference. Therefore, we expect the market to remain quasi flat till the speech release.

Ben Bernanke's speech:

2011-06-07T03:11:00.000-07:00

Today the euro is going to be affected by Ben Bernanke’s speech at 8.45 p.m ,when important economic data will be released .Therefore we draw the attention of our dear traders to be careful and be in touch with us at :

http://www.mbcfx.com/news/news_en.html

Retail Sales (MoM)da

2011-06-07T02:39:00.001-07:00

Retail Sales (MoM)data was positive for the # euro: 0.90 (Forecast: 0.30%)

Technical & Fundamental Analysis: 07.06.2011

2011-06-07T00:58:00.000-07:00

http://www.mbcfx.com/news/news_en.html

The dollar VS. the euro :

2011-06-06T01:41:00.001-07:00

The dollar loses ground against the Euro on the light of ECB's hopes to hike interest rates on July.

Technical & Fundamental Analysis 06.06.2011

2011-06-06T00:51:00.000-07:00

Dear Trader,

Last week, most of the data was negative for the dollar as a single currency against a basket of major currencies. Accordingly, gold and oil prices rose, and global stocks slipped on Friday ahead of U.S. payroll data. Previously, Ratings agency Moody's warned on Thursday it would consider cutting the United States'credit rating if the government do not proceed by mid-July in talks to raise the debt limit.

Elsewhere, the recently reported data about a new Greek rescue package that had been agreed by euro-zone officials in return for the country imposing deeper austerity measures, is expected to help strengthen the EUR/USD.

http://www.mbcfx.com/news/news_en.html

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2011-06-03T09:35:00.000-07:00

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JOIN FREE WEBINARS:

MBCFX organizes every week 30 minutes FREE training courses on how to trade and benefit from the daily $ 4 trillion currency market:

http://www.mbcfx.com/SM/web_en.php

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U.S. stocks slid sharply :

2011-06-03T06:44:00.001-07:00

U.S. stocks slid sharply on Friday after the government reported tepid jobs growth in May, with the addition of 54,000 to nonfarm payrolls, a fraction of the increase expected by many analysts.

Negative data for the USD:

2011-06-03T05:45:00.001-07:00

Negative data for the USD :
Nonfarm Payrolls: 54.00K(Forecast: 169.00K)
Unemployment Rate : 9.10%(Forecast: 9.00%)
Private Nonfarm Payrolls: 83.00K(Forecast: 180.00K )

Stocks in Athens rallied

2011-06-03T02:06:00.001-07:00

Stocks in Athens rallied on Friday amid media reports that a new rescue package had been agreed by euro-zone officials in return for the country imposing deeper austerity measures.

Asian stocks trade mostly lower

2011-06-03T01:42:00.001-07:00

Asian stocks trade mostly lower, with Hong Kong-listed banks and Japanese tech firms among the major decliners, ahead of key U.S jobs data due later in the global trading day.

European stock markets :

2011-06-03T01:41:00.001-07:00

European stock markets traded flat to slightly higher on Friday, with investors focused on key U.S. jobs data to come later in the session.

Daily Important Forex News:

2011-06-03T00:58:00.002-07:00

Chart of the Day : EUR/USD

2011-06-03T00:58:00.000-07:00

As long as most of the news yesterday were negative for the dollar specifically the increase in the Initial Jobless Claims in the U.S., the EUR/USD has strengthened and reached the 1.4518 level.

As for now, the pair is trading at 1.4485, and it’s expected to test the lower levels of the upward moving channel 1.4390 1.4437.

However, should the prices retreat upward and don’t succeed in breaching the 1.4437 level, it’s probable to resume an uptrend reaching 1.4518

Technical & Fundamental Analysis: 03.06.2011

2011-06-03T00:57:00.000-07:00

Negative data for the USD:

2011-06-02T05:36:00.001-07:00

Initial Jobless Claims : 422.00K (Forecast: 420.00K)
Unit Labor Costs (QoQ): 0.70%(Forecast: 0.80% )
Continuing Jobless Claims : 3711.00K (Forecast: 3680.00K)

The EUR/USD Now :

2011-06-02T03:21:00.000-07:00

The EUR/USD prices are still trading inside an upward moving channel and it's expected to reach the high level of 1.4490.

Oil drops

2011-06-02T03:08:00.001-07:00

Oil dropped to its lowest in a week after reports showed U.S. crude supplies rose

Asian shares fall :

2011-06-02T02:42:00.001-07:00

Asian shares fall after some very weak U.S. data dent confidence in the trajectory of economic growth.

European stock markets :

2011-06-02T01:55:00.001-07:00

European stock markets trade sharply lower with virtually every sector in the red and with banks leading declines as markets get a first chance to react to another downgrade of Greece sovereign debt

Daily Important Forex News:

2011-06-02T01:12:00.001-07:00

Chart of the Day: EUR/USD

2011-06-02T01:11:00.001-07:00

The EUR/USD prices resisted in front of the 23.2% Fibonacci level at 1.4459 , and it’s expected today to reach 1.4272 that should it be breached down , the target will be towards 1.4202-1.4222.Otherwise, should it continue its upward movement, the next

target will be 1.4459.

Technical & Fundamental Analysis: 02.06.2011

2011-06-02T01:10:00.000-07:00

Dear Trader,

Yesterday, the market news were positive for the euro specifically those enhancing the economic recovery and the upbeat steps for easing debt problems, with Greece being in the spot light. This optimism strengthened the EUR at the expense of the USD during May. Additionally, the approval of Greece’s austerity plans hyphened its strength.

Elsewhere, Oil prices rose and investors are eying all dollar data and its relation to the optimism of debt restructuring solutions.

Also gold prices are still in continuous rise this week as it reached yesterday 1541.9.

Welcome to MBCFX Financial Services!

2011-06-01T08:19:00.000-07:00

Welcome to MBCFX Financial Services!

Our clients enjoy No Dealing Desk to trade Forex, Spot Oil, Spot Gold & Silver, Futures & Commodities, Equities and Energy from just one account.

JOIN FREE WEBINARS:

MBCFX organizes every week 30 minutes FREE training courses on how to trade and benefit from the daily $ 4 trillion currency market:

http://www.mbcfx.com/SM/web_en.php

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Register for your free practice account and start exploring the world of trading right from your desktop, laptop, or mobile phone:

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The dollar slipped against the euro:

2011-06-01T03:33:00.001-07:00

The dollar slipped against the euro Wednesday on continued hopes that a resolution to Greece’s debt woes and a new austerity plan could be near, but edged up against the yen amid a developing political crisis in Japan.

U.S. stock-market futures :

2011-06-01T03:31:00.001-07:00

U.S. stock-market futures edge lower ahead of figures on private-sector employment.

Manufacturing PMI data :

2011-06-01T01:39:00.001-07:00

Manufacturing PMI data was negative for the GBP : 52.10(Forecast: 54.20 )

Manufacturing PMI data :

2011-06-01T01:10:00.001-07:00

Manufacturing PMI data was negative for the EUR: 54.60(Forecast: 54.80)

Daily Important Forex News:

2011-06-01T00:38:00.003-07:00

Chart of the Day : EUR/USD

2011-06-01T00:38:00.001-07:00

The EUR/USD prices have succeeded in breaching the targeted level 1.4406

And it is expected today reach the 14444-14500 area.

As for the key support line, it’s at 1.4390 that should it be breached low, we expect for the pair to reach the 1.4333 level.

Technical & Fundamental Analysis: 01.06.2011

2011-06-01T00:37:00.001-07:00

Dear Trader,

After a short break of the holiday, the market resumed yesterday its movement and we could see redemption with certain major news.

The euro rose to a three-week high against the dollar on Tuesday after a report saying Germany could make concessions on efforts to put together a bailout for Greece, helping to ease fears over a Greek default debt restructuring. Also, falling unemployment in Germany underlined the strength of the Euro-zone’s largest economy. Upbeat news helped bolster investor sentiments worldwide and alleviated some nervousness in the global markets:

In short, European stocks rose, oil up over $116 a barrel and the dollar weakened, all on improved prospects for a bailout for heavily indebted

Greece

CB Consumer Confidence: (-)

2011-05-31T07:03:00.001-07:00

CB Consumer Confidence data was negative for the USD : 60.80 (Forecast: 66.30 )

Chicago PMI data ( - )

2011-05-31T06:54:00.001-07:00

Chicago PMI data was negative for the USD : 56.60 (Forecast: 62.50 )

The dollar Vs. the euro :

2011-05-31T03:10:00.001-07:00

The dollar loses ground against the euro after a report eases investors’ fears about Greece’s debt woes, but both of those currencies gain on the yen after Moody’s Investors Service says it’s reviewing Japan’s rating for possible downgrade

U.S. stock market futures:

2011-05-31T03:09:00.001-07:00

U.S. stock market futures point to strong gains on Wall Street amid hopes that European authorities will agree a fresh bailout for Greece

German Unemployment

2011-05-31T01:14:00.001-07:00

German Unemployment Change data was negative for the EURO : -8.00K (forecast: -31.00K)
German Unemployment Rate data was flat : 7.00% (Forecast: 7.00% )

Daily Important Forex News:

2011-05-31T01:09:00.002-07:00

Chart of the Day : EUR/USD

2011-05-31T01:09:00.000-07:00

The EUR/USD prices have succeeded in breaching the targeted level 1.4350 and continued its upward movement till reaching the 1.4406 then retreated downward.

As we notice that the prices are trading now at the high line of the upward moving channel 1.4373.And it’s expected today to retest the highest levels 1.4406 that if breached , the target should be 1.4440, otherwise should it retreat back , we expect to drop to the low level of the moving up channel

Technical & Fundamental Analysis:31.05.2011

2011-05-31T00:57:00.000-07:00

Yesterday the market trade was slow due to illiquidity given the “Memorial Day” holidays in the UK and the United States. We expect today a movement in the market with the highlight of major currency news.

Note: The euro has fallen 2.2 percent in the past month, the worst performer of 10 developed-market currencies tracked by Bloomberg Correlation-Weighted Currency Indexes

USD / CHF

2011-05-30T07:17:00.000-07:00

Support : 0.8490

Resistance: 0.8534

Current Account data

2011-05-30T05:38:00.001-07:00

Current Account data was negative for the CAD: -8.90B (Forecast: -3.00B)
GDP (MoM) data was positive for the CAD : 0.30% (Forecast: 0.20%)

European stocks markets :

2011-05-30T04:25:00.001-07:00

European stocks markets edge higher on lower volumes as U.S. and U.K. markets are closed for holidays.

Daily Important Forex News:

2011-05-30T00:59:00.000-07:00

Chart of the Day: EUR/USD

2011-05-30T00:58:00.000-07:00

The EUR/ USD prices are still trading inside an upward moving channel, as it succeeded in breaching the Moving Average high which supports its upward movement reaching the 1.4350 level.

As for the key support line, it’s at 1.4250 that should it be breached low, we expect the resumption of the downtrend.

Technical & Fundamental Analysis: 30.05.2011

2011-05-30T00:55:00.001-07:00

Dear Trader,

Last week was marked by intensive focus on the euro as a single currency and its correlation with the dollar as a pair. Data from both currencies’ zone was wobbling between negative and positive so much so we could see ups and downs in the pair’s market movement.

On the one hand, the euro strengthened by news of approved bail outs to Portugal and steps of Greece’s privatization measures, however remained fragile as to speculations that a hard debt would collapse the banking system and the economy too.

On the other hand, the dollar was less performing with more weak economic data than strong one signaling the stalling economic growth.

The EUR/USD Now :

2011-05-27T09:01:00.001-07:00

As forecasted,the EUR / USD prices have reached the targeted level 1.4303.
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Market Buzz :

2011-05-27T05:41:00.001-07:00

Market Buzz :

Core PCE Price Index (MoM) data is static : 0.20% (Forecast: 0.20% )
Personal Income (MoM) data is negative for the USD : 0.40% (Forecast :0.50% )

The EUR/USD :

2011-05-27T05:34:00.001-07:00

The EUR / USD prices have succeeded in breaching the targeted level 1.4279 and

it’s now moving towards the high line of the upward moving channel : 1.4303

U.S. stock futures a

2011-05-27T02:57:00.001-07:00

U.S. stock futures are hugging the flat line Friday, as investors opt for caution before the release of housing and consumer-sentiment data and ahead of the long holiday weekend.

Positive news for th

2011-05-27T02:39:00.001-07:00

Positive news for the CHF: KOF Leading Indicators: 2.30 (Forecast: 2.22)

Daily Important Forex News:

2011-05-27T00:36:00.000-07:00

Chart of the Day: EUR/USD

2011-05-27T00:33:00.000-07:00

As expected yesterday, the EUR /USD prices reached the targeted level 1.4223 and breached it high reaching 1.4279.

As for today, it’s expected for the pair to make a correctional move upward to reach the 1.4279 – 1.4290 levels, however this rise will be fragile in case the Greece debt crisis persists.

Technical & Fundamental Analysis 27.05.2011

2011-05-27T00:30:00.000-07:00

Dear Trader,

Both the European & Asian stocks and the euro rose on Thursday in the light of a report that China was interested in buying bailout bonds of Portugal. However, U.S. stocks dropped since yesterday market data showed weak US GDP and Jobless Claims Data a fact which continues to undermine the US recovery.

The euro pared gains against the dollar on Thursday after Jean-Claude Juncker, president of the Euro group of finance ministers raised worries that Greece may not be able to access the next portion of bailout funds.

Market Update:

2011-05-27T00:13:00.000-07:00

The dollar weakened broadly on Friday after weak U.S. economic data dragged the 10-year Treasury yield down to a six-month low overnight.
The dollar fell across the board, hitting a record through against the Swiss franc and a three-year low versus the New Zealand dollar.
The dollar has been strong since the start of May but it looks like that out performance may be coming to a close. Even if Greece's problems continue to weigh on the euro, if the dollar does not strengthen much, then the euro's downside against the dollar may become limited at 1.40 support level.

The Greece issue is not going away, and if Greece restructures, that may open the door for Ireland and Portugal. So any rise of the euro, has to be taken as a short-term euro recovery.

Daily Important Forex News:

2011-05-26T00:46:00.000-07:00

Chart of the Day : EUR/USD

2011-05-26T00:44:00.000-07:00

The EUR/USD prices have resumed trading inside the upward moving channel , and it’s expected today to test the 1.4223 – 1.4200 levels, that should it not succeed in breaching it high, the next target should be towards 1.4150.

Technical & Fundamental Analysis: 26.05.2011

2011-05-26T00:36:00.001-07:00

Dear Trader,

Major Currencies:

Yesterday the Euro pared losses following Finland’s approval for a bail out to

Portugal

seemingly rebounding the single currency for a short term. However, the uncertainty and the symposium over Greek’s restructuring plans weighed against short gains rendering therefore the currency volatile.

Elsewhere, the U.S. stock futures were down on Wednesday in tandem with Durable Goods’ negative data, signaling U.S.’s stalling economic recovery.

Commodities:

Crude Oil drops on concerns about weaker demand on gasoline.

Gold continues high enhanced by nagging euro zone debt jitters.

European stock marke

2011-05-25T02:59:00.001-07:00

European stock markets shook off earlier losses to trade slightly higher late morning on Wednesday, with support from certain banks

Most Asian markets e

2011-05-25T02:33:00.001-07:00

Most Asian markets end lower, with Chinese shares dragged down on worries about the nation’s slowing economic growth and high inflationary pressures.

Negative news for the GBP :

2011-05-25T01:55:00.001-07:00

Business Investment (QoQ) -7.10% (Forecast: 2.40%)

BBA Mortgage Approvals 29.40k (Forecast : 32.20k )

Daily Important Forex News:

2011-05-25T01:00:00.001-07:00

Chart of the Day : EUR/USD

2011-05-25T00:56:00.001-07:00

Yesterday, the EUR / USD prices tested the above level of the upward moving channel as shown on the 1- hour chart, then retreated downwards reaching the 1.4014 level.

Now the pair is trading at 1.4037 and it’s expected to shape a second shoulder reaching 1.4014 then 1.3967.

Technical & Fundamental Analysis: 25.05.2011

2011-05-25T00:55:00.000-07:00

Dear Trader,

Yesterday, the single currency Euro edged higher after touching the 2 months low against the dollar, upbeat by positive German data. This growth was seen as a correction. And we consider it as vulnerable given concerns about the sovereign debt crisis in Europe and the woes about contagion with Italy and Spain being pinpointed on the spotlight in tandem with Greece, a fact which spooks investors.

Accordingly, commodity prices head upward: Gold hit two-week high followed by Silver and Oil.

New Home Sales data

2011-05-24T07:18:00.001-07:00

New Home Sales data was positive for the USD : 323.00K (Forecast: 305.00K)

The EUR/USD Now :

2011-05-24T07:16:00.000-07:00

As analyzed this morning, the EUR /USD prices stagnated at the major resistance level 1.4095, which is the high level of the upward moving channel , that should it be breached high, the target should be 1.4152

The GBP / USD

2011-05-24T03:38:00.000-07:00

The GBP / USD prices are finding a difficulty in breaching the 1.6153 resistance level, that should it succeed in crossing it, the following target will

be 1.6181

Many Asian markets s

2011-05-24T02:24:00.001-07:00

Many Asian markets survive choppy trading and persistent worries over the euro-zone’s debt troubles to end with small gains.

Daily Important Forex News:

2011-05-24T01:28:00.001-07:00

Chart of the Day : EUR/USD

2011-05-24T01:25:00.001-07:00

It’s expected for the EUR/USD prices to test the 1.4095 level, and should they retreat downwards, it’s expected to drop up to the 1.4025 – 1.3970 levels.

Fundamental & Technical Analysis: 24.05.2011

2011-05-24T01:23:00.001-07:00

Dear Trader,

Currency markets started off in a nervous mode Monday, after a barrage of negative news created a hustle mix for risk sensitive currencies and boosted currencies seen as safe retreats, such as the Swiss franc, which recorded a series of highs against the euro.

The negative news are with Europe’s sovereign-debt crisis being in the spot light, Standard & Poor’s Ratings Services threatening to cut Italy’s credit rating and Spain’s electoral loss with woes about austerity measures, all of which lead to slumping European stocks.

Accordingly, the Euro slumps down against the dollar, Oil prices dive, Gold prices rally and finally U.S. stocks drop as European debt woes weighed down on overseas bourses.

Today, traders will eye on major euro news, with data release from Germany, Europe’s most robust economy, and dollar data with New Home Sales from the U.S.

Gold :

2011-05-23T08:50:00.001-07:00

GOLD prices find difficulty in breaching the resistance level at 1515.50, therefore it’s expected to resume its downward move and the target should be towards 1444.00-1462.05$.

Oil futures drop as

2011-05-23T07:00:00.001-07:00

Oil futures drop as worries fresh worries about Europe’s sovereign debt sends the U.S. dollar higher.

The euro slumps vers

2011-05-23T05:56:00.001-07:00

The euro slumps versus major rivals as worries about Europe’s debt crisis intensify, while the dollar and Swiss franc find support on safe-haven flows.

The European Commiss

2011-05-23T04:00:00.001-07:00

The European Commission approved the restructuring Agricultural Bank of Greece, or ATE, which includes a state recapitalization for up to EUR1.14 billion, it said Monday.

The German private s

2011-05-23T02:12:00.001-07:00

The German private sector’s growth slowed to its lowest rate since October in May, at 56.4, while France’s PMI slowed to 62.8 respectively from 62.9 in April.

Daily Important Forex News:

2011-05-23T01:17:00.000-07:00

Chart of the Day: EUR/USD

2011-05-23T01:13:00.001-07:00

The EUR/ USD prices are trading at 1.4031, and it’s expected today to reach the 1.3961- 1.3970 levels. As for the major support level, it’s at 1.4050

Technical Analysis: 23.05.2011

2011-05-23T01:11:00.000-07:00