FX Weekly Report

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When will this USD weakness end
Mon, Jun 29 2009, 15:47 GMT
by Pierre Charlebois
Trading Metro
Price action on most pairs has been range bound for the month of June to the
noticeable exception of the USD/CAD.
With June coming to an end as the second quarter just prior to the 4th of
July weekend, high volatility is certainly expected. Most traders and fund
managers will be taking profit or cutting losses to close out the first half of
the year on all markets. Bear in mind that the stock markets have put in an
incredible performance in this second quarter and profit taking may trigger a
sudden correction.
As far as currencies go; the ranges are getting tighter and should give way
to some sort of break. The question still remains; will there be further USD
weakness prior to some overdue strengthening.
USD Index - Door is still open to a double bottom suggesting fresh tops are
possible on the EUR and GBP.
EUR/USD - New top is possible
GBP/USD - A break above 1.67 opens the door to 1.70
USD/CAD - The poor performing CAD may recover some but further upside in the
chart is expected medium to long term
EUR/JPY - The pair appears to have topped however the short term suggest
upside in the cards for now. A break above 1.3928 sends the pair higher. However
the breach of the lower trend-line could send the pair to a new low.
Published on
Mon, Jun 29 2009, 15:51 GMT
Archive
- Dollar could be reaching the Rubicon
Published On Mon, Nov 23 2009, 02:09 GMT
- Which way is the trend now?
Published On Sun, Nov 15 2009, 20:56 GMT
- Dollar trying to break-out. Will this be the week?
Published On Mon, Nov 9 2009, 05:30 GMT
- Daily volatility is increasing in all markets including Forex
Published On Mon, Nov 2 2009, 01:34 GMT
- More USD strength is likely but I still question the overall trend
Published On Mon, Oct 26 2009, 04:44 GMT
[ View All ]
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