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.
by Pedro Orta The euro continued yesterday’s decline to hit a 4-month low against the dollar during the early New York trading session on Wednesday. The pair has traded lower by 0.72% to hit a low at 1.2761 on concerns that a Cyprus deal could hold private investors responsible for future euro zone bailouts. The [...]
by Pedro Orta After reaching a two and a half year low, the pound has been trading in a range between 1.5070 and 1.5220. Initial resistance and support levels are seen at 1.5240 and 1.5050 respectively.
by Pedro Orta Since July last year the euro has been on a rallying trend against the dollar; from a low of 1.2050 to a recent high of 1.3712. Despite the recent rally, I believe the euro will continue to outperform the dollar in 2013 – partly because we are starting to see banks repay [...]
by Pedro Orta The U.S. dollar hit a new high against the Japanese Yen. The dollar has not been this strong against the Yen in over 2 years. The U.S. dollar has been on a steady rise against the Japanese Yen since last September, increasing 18.10% in just four months. The pair went from 77.41 [...]
The euro regained its losses against the dollar and is setting up for the next move. The pair is now trading at 1.3390. The next resistance is at 1.3470 and support is at 1.3250. A move above the 1.3400 level opens the way for the 1.3550 target.
Gold is trading in a tight range after reaching a session high of $1,685. Resistance is seen at this level around $1,690. The 65 and 100 daily moving averages meet around $1,690.
The pound lost ground against the dollar as the currency was sold off against the euro. GBPUSD reached a session high of 1.6155 during the Tokyo session last night. After reaching the session high, the pair began to drift lower, eventually making a low at 1.6030 during the New York session. The pound was affected [...]
The BoE has left rates unchanged at 0.5%. The MPC stated that interest rates are staying at 0.5 percent and that they will not purchase any more government bonds in excess of the 375 billion pounds they have already purchased. The announcement initially drove the pound higher against the dollar to around 1.6070 and eventually [...]
The euro rallied to a high of 1.3205 against the dollar when the ECB announced it will leave rates unchanged at 0.75 percent. Also impacting the move were comments by Mario Draghi saying “Later in 2013, economic activity should recover”. The euro blew past the 1.3150 resistance vs the dollar. This move opens the way [...]