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Wednesday,
05 September 2007,
16:21 GMT
Research
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Forex - Fundamental research
Forexyard Daily / Economic News
Yesterday, the most significant news to be released from the US was the ISM figures which both released slightly weaker than expected. This should have further bolstered expectations of an imminent rate cut by the Fed; however the market is tentative ahead of some key economic data releases later this week. Yesterday's trading began slowly with the greenback pulling back some ground against the majors. Equities also began to rise moderately and this was reflected in an increase in the USDJPY pair.
• USD
• EUR
• JPY
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Tuesday,
04 September 2007,
16:35 GMT
Research
>
Forex - Technical research
Forexyard Daily / Technical News
EUR/USD
On the 4 H chart we notice that the bearish trend is running ahead. It appears that the pair is going to break the 1.3600 support. The volatility decreased and the EUR USD is consolidating after it broke the 1.3610 support level. The price should continue to move downwards in a range of 1.3630 to 1.3580. As it seems, the bearish pressure will continue to gather momentum.
GBP/USD
The GBP USD is in a bearish configuration. The volatility decreased. The pair moves without trend and swings around exponential moving average (EMA 50 and 100).
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Tuesday,
04 September 2007,
16:34 GMT
Research
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Forex - Fundamental research
Forexyard Daily / Economic News
As the US market was closed yesterday for the labor's day holiday no news was released from the US and movements in the market were still an echo of Ben Bernanke's speech on Friday. The President of the US Fed spoke on Housing, Housing Finance, and Monetary Policy at the Federal Reserve Bank of Kansas City. Investors understood his concerns of mortgage market developments and their "possible implications for the broader economy" as a sign for a rate cut, furthermore the "deterioration in financial market conditions and the tightening of credit since its August 7 meeting had appreciably increased the downside risks to growth".
• USD
• EUR
• JPY
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Thursday,
30 August 2007,
16:02 GMT
Research
>
Forex - Technical research
Forexyard Daily / Technical News
EUR/USD
Bollinger bands are widened indicating increased volatility. On the 4 H chart the slow stochastic is crossing above 80 indicating that we are in overbought territory but the momentum and RSI are both relatively flat. The hourlies give us a bullish signal with strong positive momentum. The relatively weak bearish 4 H chart and weak bullish 1 H chart give us a strong indication that this pair will range trade today.
GBP/USD
This pair has breached the key 2.0150 resistance level with resilient positive momentum.
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Thursday,
30 August 2007,
14:06 GMT
Research
>
Forex - Fundamental research
Forexyard Daily / Economic News
Yesterday the greenback continued on its bearish decent as it lost ground against most of the majors. Earlier in the week investors were expecting the FOMC minutes to give some indication as to when the Fed will cut rates, however the FOMC minutes did not reveal much and this created uncertainty in the market of whether the Fed is actually planning to cut rates. There was no significant economic news released from the US yesterday, so the bearish momentum that was created by the discrete FOMC minutes continued throughout yesterdays trading.
• USD
• EUR
• JPY
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