Traders dipped their toe back into risk trades as the Euro and other risk-sensitive currencies gained slightly on the US Dollar. There wasn’t much fresh news to go on, and most currency pairs stayed within the ranges established in Friday’s session.
The USD/CHF pair hit its 1.07 swing projection to complete a bearish gartley. The weekly chart shows the completion of this pattern at the 89.6% retracement level (1.079-1.080). Although it appears ready to roll back from overbought zone, it is still too early to say. The market is also testing 50Wk MA…
 Looking at the Weekly, we basically have 2-waves down to the retracement zone between 61.8%-78.6%. The market was supported twice at 1.0200, once last year, and once in January. The market looks strong and ready to take a bullish mode judging from the strochastic breakout as well. |
Daily
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Weekly
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 Traders dipped their toe back into risk trades as the Euro and other risk-sensitive currencies gained slightly on the US Dollar. There wasn’t much fresh news to go on, and most currency pairs stayed within the ranges established in Friday’s session. |
 The dollar fell in early Monday trading but later pared losses on a WSJ report that Federal Reserve Chairman |
 Friday (2/5/10 – 10AM EST): In addition to analyzing what we see in Friday’s monthly US jobs report, we will also highlights 3 central bank decision – from the ECB, the BOE and the RBA. We will also examine our main currency pairs, the EUR/USD, GBP/USD, USD/JPY and others using technical analysis. |
FX Strategy Briefing: Sterling on Thin Ice
Featured \ Hans Nilsson \ 5:59 PM EST \ February 8th, 2010The dollar fell in early Monday trading but later pared losses on a WSJ report that Federal Reserve Chairman
Ben Bernanke will begin laying the groundwork for credit tightening later in the year. There was no important
US economic release today to influence the trade.