Action Insight Weekly Review and Outlook EUR/USD Pullback on Trichet, Fedspeaks ahead Dollar staged a strong rebound last week, helped by ECB Trichet downplaying the chance of another rate hike from ECB after raising rates by 25bps to 4.25% on Thursday. But the biggest winner was indeed the Aussie which with respective crosses topping the top movers chart even though RBA was on hold and sounded slightly dovish. Also, the rebound in dollar is viewed as a profit taking correction ahead of a long

Being contained by the support of the price channel, USDCHF rebounded from 1.0111. The pair might be forming a cycle bottom on daily chart. Further rise to test 1.0539 previous high resistance is still possible in next several days, a break of this level will confirm the cycle bottom and signal resumption of long term up trend. For long term analysis, USDCHF formed a long term cycle top at 1.0623 on weekly chart. Consolidation in a range between 0.9634 and 1.0623 is expected. Up trend will

Gold has hit our target of 940.29, and has since cooled a bit to 931.70.  Now support is waiting at 928.06, 922.25, 917.58, and 908.25.  If price manages to break above 940.29, then the next targets are currently waiting at 960.10, then 992.14.

EUR/USD As one of my mentors ‘Zoltan Vass’ would say; Believe what you see! Once again we have seen another volatile reaction after important economic news. And this was the strongest reaction so far. It is also important to note (as Zoltan pointed out to me) that this reaction is quite a contrary move to the news that preceded such a strong rejection. How to trade this For now it is best to look for selling opportunities. Thursday’s move produced a strong Engulfing Bearish candle and all

This has been a very exciting week on financial markets, with lots of significant macroeconomic data being published; most importantly the always awaited payrolls and the ECB’s decision with regard to interest rates. The week started of slowly with a minor increase on the EURUSD market, which additionally grew in strength after the publishing of the ADP nonfarm employment change which presented a decrease of 79,000 work places against an expected decrease by 20,000. This negative data drove

• Here are our latest thoughts on the G10 currency markets: • Difficult waters to navigate. The best performing currency during the past month has been CZK (up by 4% vs EUR), followed by HUF (2%) and PLN (0.8%). The worst have been ISK, PHP and NZD (down 5-6%). The performance split between ISK and HUF, which can be seen as both belonging to a group of high-yielding currencies backed by fragile fundamentals, clearly illustrates how difficult currency markets have been to navigate in the past

Good morning from wonderful Hamburg and welcome to the Varengold Daily FX Report. We have reached the end of a varied and volatile FX week. The ECB rate decision and the job data had intensive influence on the market. However, we expect calm Friday, because US markets will be closed in observance of the US Independence Day. Market review The USD rallied on Thursday against a basket of currencies after payroll data suggested the US job market and economy are not as grim as many investors had

EURO, JAP YEN and EURO-YEN ————————— Read our current comments and trade recommendations on EUR-USD, USD-JPY and EUR-JPY by registering at http://www.kshitij.com/fxthoughts/fxthoughts.shtml#register Our comments on Dollar-Swiss, Sterling Pound and Australian Dollar are given below ——————— The US is closed today celebrating their Independence Day . The market currently has minimal volatility. The majors have remained steady all through the day, trading within a

The euro headed for a weekly decline against the dollar on speculation a weakening European economic outlook will rule out future interest-rate increases. The Euro traded near a one-week low against the dollar after European Central Bank President Jean-Claude Trichet said he has “no bias” and that economic growth is “not flattering,” following the ECB’s decision to raise borrowing costs yesterday. The euro touched a one-week low of $1.5675 and is currently trading at $1.5704 as of 7:30 am,