JPY
Keeping an Eye on gold at the $1300 Level
The value of gold continues to decline as the U.S dollar gains strength in recent days. There are good supports at $1404 then $1320. It is important for gold to stay above $1300, a break of this level may signal the end of the decade bull market. Resistances are $1450 then $1490.
AUD/USD Technical Correction has Begun
AUD/USD broke major weekly support line at 101.50 late last week. It looks like the currencies pair major technical correction is under way. The first initial target is 0.9886, the 23.6 percent Fibonacci retracement. The final target of this correction is 0.9143 the 38.2 percent Fibonacci retracement.
Is the Correction Over for Gold?
Gold continues to move higher and is testing the $1,455 resistance level at the time of this article. If the technical correction is still in play, then gold should be testing the downside from this level.
Euro looks like it is about to move
It looks like the Euro/USD is about to make a move after days of range-bound trading. In recent days, the currency pair has been trading in a range between 1.3000 and 1.3100, waiting for the next news headline to make a move. Key levels to look at are 1.2975 and 1.3115.
Gold Bull Bargain Hunting
Gold continues to recover from the low of $1,322, testing the $1,422 resistance level at the time of this article. During the past few days, bargain hunters that remain bullish continued to buy the commodity. The fundamentals in gold are still intact; however, the short-term volatility remains high. I anticipate the commodity to trade within [...]
Anti-Growth Policies Slowing Economy Again
Anti-growth policies continue to frustrate the aspirations of working Americans. The economy is likely growing at less than two percent in the second quarter, making prospects for a better job market remote
Japan`s Bond Markets Vulnerable for Attacks
The massive QE policy by the BOJ is yielding temporary results, but the Japanese government is playing with fire. The depreciation of the Yen is helping the Japanese exports, but it is also risking flight in capital by the major Japanese corporations. The exiting from the Japanese markets is not because of the low yields [...]
Global QE
Easing monetary policies from Global Central Bankers are driving the markets today. The announcement from the BOJ that it will inject the market with $1.4 trillion over the next 2 years will force more USD buying by the major Japanese firms to hedge their exposure and expand their investments overseas.
Next Direction for Euro/USD
Euro/USD is currently trading around 1.2800 and traders are looking for the next direction. The negative reaction to the Cyprus situation and its contagion effect has mostly been priced in. The next direction for the currency pair will depend on which continent the market will focus on. If the attention is shifted back to the [...]
U.S. Dollar – Lower after data
by: Pedro Orta The dollar initially traded lower against the euro and the Japanese Yen after Thursday’s U.S. data release. At the time of this article, the dollar is trading at 1.2796 vs the euro and 94.25 vs the yen.
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