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GBP/USD, below 1.6000, testing 1.5960 support

2011-03-28 09:48:01 The Pound has resumed its downtrend from 14-month high at 1.6400, after a brief consolidation period above 1.6000 psychological level, breaking lower, on early London session, to test support at 1.5960 area.If the Pound extends below 1.5965/75 (Feb 11/Mar 13/15/17 lows), next potential support levels would be at 1.5830 (Jan 31 low) and 1.5915 (100-day SMA). On the upside, immediate resistance lies at 1.6025 (session high), and above here, 1.6090/00...

PRECIOUS METALS - European Opening View - Stronger dollar prompts profit taking; PGMs remain susceptible

2011-03-28 07:25:41 Initial consolidation in the precious metals turned into end of week profit taking towards Friday's close after comments from Philadelphia Federal Reserve Bank President Charles Plosser triggered a rise in treasury yields and a bounce in the dollar. The precious complex settled down a net 0.3% while the Dollar Index finished up 0.6% after Mr Plosser said the US economy had gained "significant strength and momentum," and that the Fed would have...

Asian markets dip because of Japan nuclear problems

2011-03-28 06:41:52 Asian markets have traded lower in the first session of the week, with risk appetite weighed under discouraging news from Fukushima nuclear plant, with radiation levels surging around the complex. In Currency markets, the Dollar strengthens across the board.Japanese Nikkei Index has dropped 0.6% while the Hong Kong Hang Seng Index shed 0.7% and the Australian ASX index 0.2% lower. On the positive side South Korean Kospi Index edged 0.1%...

EUR/JPY recovers the upside, limited by 115.00

2011-03-28 05:11:25 After opening the Asian session on a considerable downside gap, the Euro has been able to regain the upside and is now stabilized around 115.00. Earlier on, the pair found its daily bottom at 114.16.According to a Strategist “the EURJPY is relatively unchanged since late February. Quite simply, the EURJPY is in a range between 107 and 11500 (and has been since mid 2010). I am cautiously bearish with price ...

EUR/USD, steady above 1.4140/50

2011-03-25 12:37:40 Euro recovery from 1.4050 low yesterday, was capped at 1.4220, and the pair has remained steady on Friday consolidating below 1.4200, with downside attempts contained above 1.4140/50 support so far.On the upside, immediate resistance lies at 1.4200/20 (Mar 23 high/intra-day resistance), and above here, 1.4250 (Mar 22 high) and then 1.4285 (November 2010 high). On the downside, support levels lie at 1.4140/50 (day lows) and below here, 1.4100 (intra-day support),...

Gold bullion stable above $1430

2011-03-25 11:49:03 Gold bullion rose to fresh historic highs near $1450/oz yesterday, in light of re-ignited fears concerning euro zone sovereign debt as well as ongoing tensions in the MENA region. In the closing hours of the day however prices corrected to the downside with the most active contract for May swinging under $1425, ultimately stabilizing just above $1430 where remains in a tight channel today.With equity markets yesterday mostly shrugging off...

GBP/USD breaks below 1.6100

2011-03-25 10:47:39 The Pound attempted to trim losses on early European session, and stretched to 1.6140 session high , where it found sellers to pull about 60 pips lower, breaking below 1.6100 to a fresh week low at 1.6060.The pair has reached 1.6060 support area (Mar 18 low), with next support levels, below here, at 1.5965/80 (Feb 11/Mar 15/17 lows) and 1.5825/30 (Jan 31 lows).On the upside, immediate resistance lies at...

Germany: IFO Business Climate and Current Assessment better than expected

2011-03-25 09:52:25 The German business climate as well as current assessment, as reported by IFO, came in better-than-expected in March. In particular, the former registered a reading of 111.1 compared to the 110.5 predicted, while the latter surprisingly jumped to 115.8 compared to the 114.8 expected.On the other hand, expectations came in slightly worse than what analysts were expecting, declining to 106.5 compared to the 106.8 predicted and the 107.9 from Feb.

GBP/USD consolidating losses above 1.6100

2011-03-25 07:56:08 Pound's retreat from 1.6400 high extended yesterday, weighed by downbeat UK retail sales, and, after failure to regain 1.6200 on early US session, the pair dipped to 1.6100 to consolidate between here and 1.6130 in Asian session.On the downside, immediate support lies at the mentioned 1.6090/00 (day low), below here, 1.6060 (Mar 18 low) and 1.5980 (Mar 15/17 low). On the upside, resistance levels lie at 1.6130 (day high), and...

USD Graphic Rewind: Super-Euro Has No Kryptonite; Dollar Index Suffers

2011-03-25 07:28:35 The euro seems to be immune to the negative developments in the EMU as it continues to race higher on interest rate speculation….The euro has once again proved itself impervious to negative headlines, a weak fundamental outlook and fresh concerns over the EMU debt crisis as speculative trade continues to dominate. After the resignation of PM Socrates in Portugal and the...
 
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