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Dollar Shows Follow Through on Bullish Break, EURUSD at 2010 Lows
Dollar Shows Follow Through on Bullish Break, EURUSD at 2010 Lows Euro Drops Across the Board as Market Realizes EU Summit Impotent British Pound and Gilt Yields Hit Despite the BoE’s Steady 8-1 Vote Japanese Yen Continues its Climb after BoJ Avoids Stimulus Clash Australian Dollar Hits Fresh 6 Month Low Against Dollar as Rate, [...]
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Breaking News
Taxing Europe’s frayed tempers
…cash, the Spanish government could issue Bankia debt certificates issued by the Spanish Treasury or by FROB in exchange for equity. Bankia could then borrow from the European Central Bank, using these certificates as collateral. Meanwhile, investors are dumping…
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Steep battle for Macedonian gold assets
Posted on May 27, 2012 10:03:00 GMT 10:03 PM | Originally posted at The Age -
The End of the Euro: A Survivor’s Guide
Posted on May 27, 2012 09:56:00 GMT 9:56 PM | Originally posted at The Huffington Post -
Spanish lender asks for $19b euro bailout
Posted on May 27, 2012 09:37:00 GMT 9:37 PM | Originally posted at TVNZ
Chart of the Day
US Dollar Index Classical Technical Report 05.23
The market has now taken out some major resistance by 10,100 to open the door for fresh upside and a bullish continuation over the coming weeks. Next key resistance comes in by the 10,300 area, although, with daily studies now overbought, look for opportunities to buy on dips back towards 10,000 where a fresh higher low is now sought out.
Forex News Contributors
SNB: Thomas Jordan is Considering Capital Control and Negative Interest Rates
(Thomas Jordan) Swiss National Bank (SNB): – Thomas Jordan, who took over as the SNB president in April and said the central bank would would continue to hold the 1.20 EUR/CHF floor has been quoted considering other measures . – 5/24′s EUR/CHF pop and return right back to the floor was a sign that the CHF continues upwards pressure, which is bad for Swiss exporters and thus for the Swiss economy. – Jordan noted that the Eurozone crisis has put additional pressure on the Swiss Franc (CHF). This is because CHF is a safe haven like the USD and JPY
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China and Japan to Bypass USD for Direct Yuan-Yen Trading
Posted on May 26, 2012 07:51:10 GMT 7:51 PM by FXTimes -
USD/CAD Trading in an Ascending Triangle
Posted on May 25, 2012 02:15:57 GMT 2:15 PM by FXTimes -
Video: 05/25 – EUR Fundamental Factors and Biases – Greece and Macro Picture
Posted on May 25, 2012 02:09:45 GMT 2:09 PM by FXTimes -
EUR/USD Cracks 1.25; 1.2330-1.2350 is the Next Key Support
Posted on May 25, 2012 01:45:23 GMT 1:45 PM by FXTimes -
EUR/JPY and GBP/JPY at Declining Channel Support
Posted on May 25, 2012 11:27:06 GMT 11:27 AM by FXTimes
Question and Answer of the Day
Learning the Lingo: Whipsaw
A whipsaw is a condition where the market unexpectedly heads in one direction, but then is followed quickly by a movement in the opposite direction in a confusing manner. The origins of term is derived from the push and pull action used by lumberjacks to cut wood with a type of saw with the same name. Whipsaws typically move the market in such a way that traders that are trading either long or short using tight stops are stopped out of the market.
There are two types of whipsaw patterns. The first involves an upward movement in the share price, which is then followed by a drastic downward move, which causes the share’s price to fall relative to its original position. The second type involves the share price to drop for a little while, and then suddenly, the price abruptly surges towards positive gains relative to the stock’s original position.
