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Currency Strenght
Thursday, 10 March 2011
Euro Exchange Rate News By Euro Exchange
The Euro has come under fire today after forex investors continued to turn their focus on European sovereign debt issues.
Moody's reduced its rating on Spain by one notch to Aa2 and warned that a further downgrade could be in the offing in the future.
Adam Solomon, a forex analyst at Tor FX, points out that these debt concerns could keep interest rates on hold for longer. Remember forex investors are looking for interest rates to rise.
Risk conditions will continue to remain an important influence and the U.S Dollar has been unsettled by the recent increase in oil prices.
However, should oil price rises stay in check then we could be looking to further downside on EUR USD in the form of a strengthening US economy.
"The recent weakness of the U.S Dollar will reverse sharply if the U.S economy continues to gather momentum," says Solomon.
By Euro Exchange
Moody's reduced its rating on Spain by one notch to Aa2 and warned that a further downgrade could be in the offing in the future.
Adam Solomon, a forex analyst at Tor FX, points out that these debt concerns could keep interest rates on hold for longer. Remember forex investors are looking for interest rates to rise.
Risk conditions will continue to remain an important influence and the U.S Dollar has been unsettled by the recent increase in oil prices.
However, should oil price rises stay in check then we could be looking to further downside on EUR USD in the form of a strengthening US economy.
"The recent weakness of the U.S Dollar will reverse sharply if the U.S economy continues to gather momentum," says Solomon.
By Euro Exchange
The Reason why i bought the AUDUSD
There is a butterfly pattern emerging on the hrly Time frame whether or not it will hold i'm not sure, However this is a speculative game and worth the risk. With bad US data as stated in earlier posts. this pattern seems viable.
1618% expansion from XA
and a 261.8% expansion from from AB=CD
so we have FIb confluence there is also the phylogical 1.0000 to hold so my stops are just under this level @ 0.9992
1618% expansion from XA
and a 261.8% expansion from from AB=CD
so we have FIb confluence there is also the phylogical 1.0000 to hold so my stops are just under this level @ 0.9992
USDX updated Chart
On Recent bad news from the US
weekly jobless claims riseing more than expected
and Trade balance coming out worse than expected i dont believe the USDX will continue to break the poseidon warning line for very long. there might be a short push to the 78.6% but i think it should hold and the USDX should countinue on it's doward fall. but surely a halt in the slid of the majors for now. EUR, AUD GBP
weekly jobless claims riseing more than expected
and Trade balance coming out worse than expected i dont believe the USDX will continue to break the poseidon warning line for very long. there might be a short push to the 78.6% but i think it should hold and the USDX should countinue on it's doward fall. but surely a halt in the slid of the majors for now. EUR, AUD GBP
Wednesday, 9 March 2011
Tuesday, 8 March 2011
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