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Tuesday,
28 August 2007,
09:47 GMT
Research
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Forex - Technical research
Forexyard Daily / Technical News
EUR/USD
The volatility has increased and Bollinger bands are widened. The pair seems to be consilidating around the1.3625 after yesterdays drop from the 1.3682 mark. On the 4 H chart both momentum and the RSI are both giving strong indication that the pair will range trade today. However there is a flag formation appearing and if this pair breaks the 1.3600, then we may see another move downwards.
GBP/USD
The cable has been on steady fall in the last 24 hours, sliding from 2.0186 to the 2.
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Tuesday,
28 August 2007,
09:43 GMT
Research
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Forex - Fundamental research
Forexyard Daily / Economic News
Existing home sales released yesterday align with expectations at 5.75M and only slightly below the previous value of 5.76M, there was only a slight reaction from the market because the value was already anticipated by investors. Despite a low release of Existing Home Sales and with the difficulties in the US housing market, New Home Sales rose last week substantially from 846K to 870K. We are getting mixed signals from the housing market this month as the New Home Sales release surprised on the upside while there was a fall in the decreasing Housing Starts and Building Permits figures.
• USD
• EUR
• JPY
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Monday,
27 August 2007,
11:21 GMT
Research
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Forex - Technical research
27/Aug - Technical News
EUR/USD
The pair is now floating around 1.3670 which is the 61.8% Fibonacci level of the 1.3850/1.3360 move. A break beyond that level will unleash a bullish move to the 1.3720 level. If the pair will be shy of the break than a correction move will be imminent.
GBP/USD
The cable is in the midst of strong uptrend and the hourlies are starting to become oversold. The 4 Hour chart is showing a second bearish cross on the slow stochastic and the dailies support the bearish notion. There are signals of a bearish correction that could take the pair to 2.
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Monday,
27 August 2007,
11:18 GMT
Research
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Forex - Fundamental research
27/Aug - Economic News
Last week was characterized with a relatively empty US calendar aside from the Durable Goods Orders and New Home Sales which were released on Friday. Both figures beat expectations, boosting the major U.S. stock indices. The U.S. Durable Goods Orders was released at 5.9%, showing its biggest growth since September, while New Home Sales rose by 2.8%. The strong New Home Sales figures helped to calm market nerves, but despite strong U.S. economic data, the USD fell against most major currencies on Friday.
• USD
• EUR
• JPY
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Saturday,
25 August 2007,
03:04 GMT
Research
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Forex - Fundamental research
Economic News
Yesterday the Unemployment Claims data was published in the US. The Labor Department reported that new claims for unemployment benefits dropped to 322,000. Fewer people signed up for jobless benefits last week. This data signals a positive sign in the US market, taking in consideration the last major difficulties in the US market; housing, tighter credit, and turmoil on Wall Street in recent weeks, which caused a big wave of layoffs. National employment remained fairly study despite job losses related to the deep housing slump, which has persisted for more than a year.
• USD
• EUR
• JPY
• Technical News
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