Wednesday, 8 February 2012

Action Forex

Action Forex

Daily technical outlook

Posted: 08 Feb 2012 02:52 PM PST

Perfection is achieved, not when there is nothing more to add, but when there is nothing left to take away. ~ Antoine de Saint-Exupery Good morning. The euro is recovering after yesterday's test of support at $ 1.3050, although all eyes are on Greece these days. Current recovery is all about following the Aussie dollar which rallied big time in Asian session against most counter-parts after RBA surpr

Greece to face hard cuts – Troika draft

Posted: 08 Feb 2012 02:45 PM PST

After three days of delays, Greek coalition leaders agreed on a draft deal on austerity measures demanded by the Troika (Monetary Fund, European Union, and European Central Bank) to secure a €130 billion bailout. According to the first copy obtained by Bloomberg, the draft says Greek economy will shrink as much as 5% in 2012 and sees return to growth in 2013. In the Troika draft, Greece’s government pledge

USDCHF broke above price channel

Posted: 08 Feb 2012 02:42 PM PST

USDCHF broke above the upper line of the downward price channel on 4-hour chart last Friday, suggesting that a cycle bottom had been formed at 0.9114, and lengthier consolidation of the downtrend from 0.9594 is underway. Range trading between 0.9114 and 0.9249 would likely be seen in a couple of days. Key resistance is at 0.9350, as long as this level holds, we'd expect downtrend to resume, and one more fall tow

Insights from Two Voting Members of 2012 FOMC

Posted: 08 Feb 2012 02:19 PM PST

President John Williams of the San Francisco Federal Reserve Bank, a voting member of the FOMC in 2012, presented his views about the economy and Fed policy today, which contain several important nuggets of information, particularly given the new information from the Fed following the January 24-25 FOMC meeting. He indicated explicitly that he is a 2014 Club member, not a surprise because this information was part

Greece to face hard cuts – Troika draft

Posted: 08 Feb 2012 01:51 PM PST

After three days of delays, Greek coalition leaders agreed on a draft deal on austerity measures demanded by the Troika (Monetary Fund, European Union, and European Central Bank) to secure a €130 billion bailout. According to the first copy obtained by Bloomberg, the draft says Greek economy will shrink as much as 5% in 2012 and sees return to growth in 2013. In the Troika draft, Greece’s government pledge

USDCHF broke above price channel

Posted: 08 Feb 2012 01:45 PM PST

USDCHF broke above the upper line of the downward price channel on 4-hour chart last Friday, suggesting that a cycle bottom had been formed at 0.9114, and lengthier consolidation of the downtrend from 0.9594 is underway. Range trading between 0.9114 and 0.9249 would likely be seen in a couple of days. Key resistance is at 0.9350, as long as this level holds, we'd expect downtrend to resume, and one more fall tow

Daily technical outlook

Posted: 08 Feb 2012 12:52 PM PST

Perfection is achieved, not when there is nothing more to add, but when there is nothing left to take away. ~ Antoine de Saint-Exupery Good morning. The euro is recovering after yesterday's test of support at $ 1.3050, although all eyes are on Greece these days. Current recovery is all about following the Aussie dollar which rallied big time in Asian session against most counter-parts after RBA surpr

Delays and splits in the Greek deal

Posted: 08 Feb 2012 12:48 PM PST

Another round of talks between Greece government and the Trokia and another delay in the decision. Today the salad comes with a pinch of salt: According to Reuters sources, the ECB is still divided on what to contribution the the bank could make in the Greece restructuring sovereign debt program. According to news from Reuters: “-There is no agreement yet. Some people on the Council still oppose this,- said

USDCHF broke above price channel

Posted: 08 Feb 2012 12:42 PM PST

USDCHF broke above the upper line of the downward price channel on 4-hour chart last Friday, suggesting that a cycle bottom had been formed at 0.9114, and lengthier consolidation of the downtrend from 0.9594 is underway. Range trading between 0.9114 and 0.9249 would likely be seen in a couple of days. Key resistance is at 0.9350, as long as this level holds, we'd expect downtrend to resume, and one more fall tow

Delays and splits in the Greek deal

Posted: 08 Feb 2012 11:45 AM PST

Another round of talks between Greece government and the Trokia and another delay in the decision. Today the salad comes with a pinch of salt: According to Reuters sources, the ECB is still divided on what to contribution the the bank could make in the Greece restructuring sovereign debt program. According to news from Reuters: “-There is no agreement yet. Some people on the Council still oppose this,- said
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