USD Graphic Rewind 03.10
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USD/JPY Classical 03.10
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USD/CHF Classical 03.10
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USD/CAD Classical 03.10
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NZD/USD Classical 03.10
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GBP/USD Classical 03.10
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GBP/JPY Classical 03.10
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EUR/USD Classical 03.10
Setbacks have stalled for now ahead of 1.3400 (61.8% fib retrace of the 2008-2009 low-highs), and although the overall structure remains bearish, the market looks as though it may be attempting to carve out a short-term base.
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EUR/JPY Classical 03.10
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EUR/CHF Classical 03.10
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AUD/USD Classical 03.10
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British Pound Little Changed in Asia, Industrial Production on Tap Ahead
The British Pound was little changed in Asian trade, treading water near familiar levels ahead of a report that is expected to show industrial production shrank at the slowest annual pace in nearly two years.
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Scandi Daily 03.10
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Opening Comment 03.10
While most currencies have been consolidating in a tight range since the North American close, Kiwi stands out and has outperformed on the session, with no direct catalyst for the demand other than some pre-RBNZ volatility.
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Overnight Interest Rate Update 03.10.10
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Australian Home Loans Drop Most in Nearly a Decade on Rates, Grants
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Australian Consumer Confidence May Fall on Rate Hikes, Says Westpac
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Dollar Avoids a Trend Once Again after Retracing Risk Aversion Gains
• Dollar Avoids a Trend Once Again after Retracing Risk Aversion Gains
• Euro Stumbles as Policy Officials Voice Their Doubts over Greece and an EMF Solution
• British Pound Hit by Data and Credit Rating Warnings
• Japanese Yen Benefits from Carry Unwinding and Strong Signs of Economic Recovery
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Stop Placement: Negative Risk Reward Ratio
Student's Comments:
20 day crossed the 50 day, 20 day crossed the 200 day ,candlestick patterns showed a bearish engulfing pattern, enter at following candle at 132.54 -set stop at 132.21 - exit at 131.54
Next chart shows 200 day crossing 50 day with a double top. enter at 133.64 - stop at 135.05 - exit at 132.65
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A Quick Recovery Prevents a Decisive Crude Reversal as Investor Fears Starts to Percolate
Just a day after testing an eight-week high, crude suffered a notable setback through the first half of Tuesday’s session. Through the European trading hours, the commodity would plunge as much as 2.1 percent and subsequently disrupt the steady drive bulls have been more or less able to sustain since the dramatic reversal a month ago.
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Pound Directionless As Monetary Policy Remains Uncertain
The GBP/USD appears directionless as its main drivers of price action have continued to lose influence. Risk trends hold the strongest relationship with a 33% correlation, but recent divergence has seen the level of explanation slide from 41% a month ago. The support that risky assets have generated hasn’t translated into sterling gains as the prospect of more quantitative easing from the BoE continues to weigh. U.K. interest rate expectations have seen their correlation fade from 14% to 1% in the past month as the central bank has trailed its counterparts in bringing an end to liquidity providing efforts. Therefore, we could see a continuation of the current trend until the release of the BoE minutes next week which will provide insight into future monetary policy.
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AUD/USD: Trading the Change in Australian Employment
The labor market in Australia is expected to improve for the sixth consecutive month in February, with economists forecasting employment to expand 15.0K in February, and the data could drive the exchange rate higher as market participants speculate the Reserve Bank of Australia to normalize policy further over the coming months.
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NZD/USD Range Contingent On Dovish RBNZ
Today’s bounce from the 200-Day SMA could be a sign that upside potential is increasing, especially considering the level of concern during early trading. Credit rating agency Fitch placed Portugal on a negative watch list which reignited concerns that the credit issues in Greece could develop into a contagion for the region.
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Japanese Yen Benefits From Risk Aversion, British Pound Extends Decline
The Japanese Yen strengthened across the board as investors scaled back their appetite for risk, while the British Pound extended the decline from earlier this week and slipped to a low of 1.4937 as Fitch Ratings held a cautious outlook for the U.K.
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Light Crude 03-09
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