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The Reserve Bank of Australia slashed the Official Cash Rate from 4.25% to 3.75%. The 50 basis point cut was more than the 25-bps cut the market has expected. In Glenn Steven's (Governor of the RBA) statement , he mentioned slowdown in China as well
Articles The EUR /USD has been having trouble at the 1.3260 pivot and has fallen from that level after several forays. The 4/30 session to start a new week of trading has so far continued to respect this resistance but the market is also held above 1.
In the previous EUR/USD forex forecast review we noted that the SMA 20 was bearish while the SMA 50 was turning bearish. Fundamentally, both sides of the Atlantic are facing strains in their economies and hence this currency pair is probably a
Forex Technical Update The GBP /USD has been trading up for 5 straight trading days and 1 doji on the 4/23 session. As the market gears up for the 4/24 US trading sessi0on, the pair continue to trade up, now testing/cracking the 10/31/2011
Bank The region of 52.2000 offers a very strong resistance in US dollar/rupee pair, and we need a daily close above these levels for a fresh up-move towards the 53.1000 level (first target level) and 54.3000 (all-time high). Till then the broad
Forex Technical Update The EUR /USD is wrapping up the week with a push above not only this week's high, but the previous week's high near 1.3210 ...The 4H chart shows a developing descending triangle with a more or less flat support around 1.30 ,
Price attempted to push lower bottomed at 104.61 but closed higher at 105.52. The bias is neutral in nearest term but overall my intraday bias remains to the downside...A clear break above that area could trigger further bullish pressure testing 106.
Forex Technical Update We start another week in the currency markets, after ending the previous week on 4/13 with USD strength seen across the board. The daily EUR /USD chart shows the market stopping the rally near 1.32 , and starting the 4/16
In the previous forex forecast review of the EUR/USD, we noted that both SMAs were flat and that indicated uncertainty. Fundamentally we noted that the job market in the US might be cooling and the budget deficit woes continued to plague the euro
Text Size Forex Technical Update USD/JPY The USD/JPY continues to slide, extending the bearish tone struck after the poor NFP data on 4/6. The 4H chart shows the market trading in a declining channel and the USD/JPY pushes below 81.00 (which was