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The EUR/USD has rallied since yesterday’s US session, but may have completed a correction. The GBP/USD, which has remained strong this week, is starting to weakness. USD/JPY is nearing an important support zone. Against the yen, the Canadian fell most sharply this week. Finally, the USD/CHF pair is cracking support, but we should look for bottoming almost immediately below.
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EMU peripheral 10 year bond yields are relatively unchanged while markets wait on Greece. Latest is Papademos to meet at 14GMT. $USDJPY: Key level for bulls to watch comes in by 76.85. A break above should further alleviate downside pressure and accelerate gains. $EURUSD: Well bid with the market considering push back above 1.3200. Key resistance by 1.3235. Juncker says Greece can't be forced out.
#forex much better risk flows as we start the day with RBA no cut helping matters. Any sign of Greek deal should send us to 3200 on $EURUSD
Ding ding ding ding! Happy trading, folks! Here's the update of my AUD$ trade last week http://t.co/vqHYzyid #forex #fx #aud REPORT: Check out our "Opening Comment" at http://t.co/RmaDrhkp for an overview of the latest developments. $AUDUSD: A break back under 1.0700 will now be required to negate the bullish price action and open the door for a bearish reversal. $AUDUSD: While we disagree with the RBA decision and think it will eventually come back to strain the economy, right now can't fight trend. $EURUSD: Still locked in a multi-session consolidation and needs to break below 1.3025 or back above 1.3235 for clearer directional bias. $GBPAUD: The combination of an unexpected RBA rate hold and some softer UK BRC retail sales have weighed heavily on this cross rate.
Going to stay on the sidelines for now, but will be closely watching that 1.3000 to the upside. $AUDNZD: Clears the 20-Day SMA (1.2932) as it rallies to a high of 1.2939. Definitely a better entry on the pending short trade.
The ASX 200 gave back its earlier gains. Now 0.5% underwater. Apparently, share holders wanted the Fed treatment. ...I'm not a fan of that $AUDJPY Tidal Shift signal unless we clear that 61.8% Fib (of 4/28 to 10/4 bear wave) at 82.85 and risk advances. $AUDCAD and AUDNZD have cleared relative highs (the former a record). The Tidal Shift strategy just put up a long AUDJPY signal as well.
RBA surprising rate hold at 4.25% is aimed at helping out banks by not forcing them to pass on lower rates. Cost of k gone up #forex Dovish rhetoric from the RBA, sure; but this is the same quality of commentary we have heard over the past three rate decisions. RBA: Housing prices are starting to stabalize, interest rates for boarrowers near average, terms of trade are starting to ease.
RBA: "Growth in China has moderated as was intended, but on most indicators remained quite robust through the second half of last year." RBA: "The acute financial pressures on banks in Europe were alleviated considerably late in 2011 by the actions of policymakers" $AUD #forex RBA says its inflation outlook gives it scope to ease if demand (assuming domestic) eases. RBA: Inflation has declined as expected, CPI and GDP near trend, Chinese growth moderating, EU a threat. A hold fits, the prevailing risk trend and this $AUDUSD channel. Now the question is what happens going forward.
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