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| Euro Rolls Over at Fibonacci and Trendline Resistance
April 3, 2009 at 10:18 am
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| | -EURUSD topping -GBPUSD back to at leat 1.4650 -AUDUSD failing ahead of key level -NZDUSD structure bearish below .6090 -USDCAD bullish above 1.22 |
| Non-Farm Payrolls Fell By 663K. Unemployment Rate Rises to 8.5%
April 3, 2009 at 8:30 am
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| | The U.S. economy lost 663.000 jobs in March pushing the unemployment rate to 8.5 percent, the highest level in more than 25 years, the U.S. Bureau of Labor... |
| Euro/Dollar Spotlight: Indicator of the Day
April 3, 2009 at 7:57 am
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| Kiwi Standout Gainer Overnight; Dollar/Yen Breaks 100.00 (Morning Slices)
April 3, 2009 at 7:07 am
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| German Import Prices Mark Biggest Decline on Record, Raising the Risks for Deflation
April 3, 2009 at 6:46 am
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| | German import price index for February marked the biggest contraction in over a decade as prices slipped 6.4% from the previous year on the back of falling... |
| Pound Finds Support On Improving Service PMI Reading, Will U.S. NFP's Sink Optimism And Reverse Gains?
April 3, 2009 at 5:57 am
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| | The Pound rallied nearly 200 pips during European trading to a seven week high of 1.4831 as the U.K. service PMI gauge added to the trend of improving... |
| Kiwi/Cad Sell Recommendation Issued @0.7280
April 3, 2009 at 5:56 am
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| | On Wednesday, RBNZ Governor Bollard said that the rise in long-term rates was unwarranted and that he expected interest rates to remain at low levels for... |
| U.K. Services PMI Rises to Six-Month High Despite Drop in Employment
April 3, 2009 at 5:15 am
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| | U.K. March services PMI jumped to 45.5 from 43.2, far better than our survey median estimate for 43.8 but not a complete surprise after Wednesday's surge... |
| Euro-Zone Service-Based Acitivity Unexpectedly Improves, ECB's Nowotny Sees Room for Lower Rates
April 3, 2009 at 5:15 am
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| | Euro-Zone March services PMI was revised up to 40.9 from 40.1 reported initially. This is a marked improvement from the 39.2 in February and brought the... |
| Swiss Consumer Prices Falls the Most Since 1959
April 3, 2009 at 3:34 am
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| | Consumer prices in Switzerland unexpectedly fell 0.3% in March, while the annualized reading for inflation plunged 0.4% from the previous year to mark... |
| Major Currencies Advance Against US Dollar - Where to From Here?
April 3, 2009 at 2:58 am
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| | The US Dollar's rebound was cut short as risk appetite surged on seemingly promising news from the G20 summit in London, weighing down the safe-haven asset... |
| German Import Prices Plunge Lower as Global Economy Falters
April 3, 2009 at 2:10 am
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| | The German import price index for February marked the biggest contraction in over a decade as prices slipped 6.4% from the previous year on the back of... |
| Overnight Interest Rate Update 04.03.09
April 3, 2009 at 1:51 am
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| | Current Yesterday USD 0.51000 0.28625 GBP 0.70000 0.60000 EUR 1.31750 0.91625 JPY 0.19500 0.19500 CHF 0.14000 0.14500 AUD 3.45000 3.48750 CAD 0.50333 0.50000 NZD 3.08750 3.13750 |
| Forex Market Update: USD/JPY Tops 100.00 For the First Time Since November
April 3, 2009 at 1:51 am
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| | A successful push to excise 100.00-level option strikes on USD/JPY ahead of the U.S. employment data was the dominant theme of the Asian market. Very aggressive... |
| Short-Term Forex Technical Outlook: USD/CAD
April 3, 2009 at 1:41 am
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| | Fears of a deepening recession in Canada led BoC Governor Mark Carney to drop his reluctance to utilize tools beyond the interest rate to manage monetary... |
| Post of the Day: Using the Most Recent Fib Line
April 3, 2009 at 12:29 am
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| Yen May Gain Back Strength As Rising Wedge May See Dollar Fall
April 2, 2009 at 11:02 pm
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| | On the 5-minute chart featured below, we see that the U.S. Dollar has hit support on multiple occasions against the Japanese Yen. The pair has been confined... |
| US Dollar Pulls Back But Trend Favors Bullish Bias
April 2, 2009 at 10:13 pm
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| | The US Dollar pulled back against the spectrum of major currencies as risk appetite surged on seemingly promising news from the G20 summit in London. However,... |
| European Economic Calendar: 04-03-09
April 2, 2009 at 8:28 pm
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| New Zealand Budget Deficit Widens on Falling Tax Receipts
April 2, 2009 at 7:05 pm
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| | New Zealand's budget deficit widened more than government forecasts had initially believed in February as tax receipts fell due to rising unemployment... |
| Danger Still High For CHFJPY Range Setup
April 2, 2009 at 6:40 pm
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| | While it may seem as if the waters are once again safe to dive back into since the G20 meeting has passed; but the market may not be done with this event.... |
| DailyFX Trend Report
April 2, 2009 at 6:33 pm
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| | About the DFX Trend Index The DFX Trend Index ranges from -100 to +100 and is updated everyday at 5 pm eastern US time. The numbers correspond to specific... |
| British Pound Gains with Other 'Risky' Currencies, UK House Prices Rise for First Time Since October 2007
April 2, 2009 at 6:01 pm
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| | The British pound continued to make headway higher on Thursday, along with other risky assets, thanks to broad improvements in investor sentiment along... |
| Euro Gains Despite European Central Bank (ECB) Rate Cut - Why?
April 2, 2009 at 5:57 pm
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| | The euro ended Thursday on a mixed note, as the currency surged against the Japanese yen, US dollar, and Swiss franc but slipped against the ultra strong... |
| US Dollar, Japanese Yen Under Pressure Post G-20, Ahead of Friday's US Non-Farm Payrolls (NFPs)
April 2, 2009 at 5:53 pm
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| | Risk appetite has held strong throughout the day, leaving the "safe haven" US dollar and Japanese yen under pressure, as equities around the world closed... |
| British Pound Crosses Rebounding
April 2, 2009 at 5:47 pm
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| | -GBPCHF approaches resistance -GBPCAD prepares to break higher -GBPAUD and GBPNZD should see rebounds |
| US Dollar, Japanese Yen Under Pressure Post G-20, Ahead of Friday's US Non-Farm Payrolls (NFPs)
April 2, 2009 at 5:38 pm
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| | - US Dollar, Japanese Yen Under Pressure Post G-20, Ahead of Friday's US Non-Farm Payrolls (NFPs) - Euro Gains Despite European Central Bank (ECB) Rate... |
| FX Correlations (April): How Do Currencies Move In Relation To Each Other?
April 2, 2009 at 4:48 pm
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| | The following is our monthly correlations update for April. As we have stated time and again, correlations between different currency pairs will inevitably... |
| G 20 Statement Light on Details for Promise to Boost Regulation, Stimulus and IMF Support
April 2, 2009 at 4:16 pm
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| | After a colossal build up to the Group of Twenty's (G20) meeting in London today, the market has been placated with a nine-page statement that covers many... |
| Euro Ends Day Higher Post ECB Rate Cut, US Dollar at Risk Ahead of NFPs (Forex Video)
April 2, 2009 at 3:53 pm
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| | The euro ended the day up against the US dollar despite the ECB rate decision - why? Find out more about Friday's US NFP release... |
| US Dollar: US NFPs May Provide Harsh Reality Check for Optimistic Markets
April 2, 2009 at 3:05 pm
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| | The US dollar will encounter one of its most market-moving pieces of data on Friday: non-farm payrolls (NFPs). |
Posted on 11:08 AM
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| Canadian Dollar Technical Outlook
April 2, 2009 at 11:15 am
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| | I wrote yesterday that "the short term USDCAD pattern suggests that we should be long, albeit at a better price. There are 5 waves up from 1.22, therefore... |
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| Yen Technical Outlook
April 2, 2009 at 10:44 am
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| | The USDJPY has traded through the 200 day SMA (although there is no daily close above the SMA yet) and focus is now on the 61.8% retracement of the decline... |
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| New Zealand Dollar Technical Outlook
April 2, 2009 at 10:42 am
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| | I wrote last week that "there is a count in the NZDUSD that calls for a wave 2 high to form before .6090. If this is to occur, then a high should form... |
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| Australian Dollar Technical Outlook
April 2, 2009 at 10:40 am
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| | "Price action in the AUDUSD since the October 2008 low has carved out what could be a head and shoulders continuation pattern. This is pure speculation... |
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| British Pound Technical Outlook
April 2, 2009 at 10:38 am
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| | Price action since 1.35 is a 4th wave that will end as either a triangle or flat. I wrote last week that "since it looks as though the EURUSD long term... |
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| Euro Technical Outlook
April 2, 2009 at 10:33 am
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| | My working assumption is that a wave 2 high is in place at 1.3740 (within what will be a 5 wave decline from 1.4723). It is quite possible that 1.3740... |
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| Euro Surges into Resistance Zone
April 2, 2009 at 10:23 am
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| | -EURUSD faces resistance ahead of last week's high -GBPUSD large correction either a flat or triangle -AUDUSD threatens yearly high -NZDUSD structure still... |
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| Post of the Day: Divergence
April 2, 2009 at 5:19 am
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| | Student's Question: my screen shows a divergence of MACD AND a convergence of Stoch. while USDJPY makes a closing triangle near the high of a long period. What... |
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| Chart of the Day: EUR/USD
April 2, 2009 at 5:11 am
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| | The EUR looks a little weak lately and since the daily trend of the EUR/USD is still down, it may be time to look for a selling opportunity. |
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| Short-Term Forex Technical Outlook: GBP/CHF
April 2, 2009 at 1:38 am
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| | The GBP/CHF pushed higher this week as investors moved into higher risk/reward investments, and the pair is likely to hold a broad range going forward... |
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| Overnight Interest Rate Update 04.02.09
April 2, 2009 at 12:52 am
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| | Current Yesterday USD 0.51000 0.28625 GBP 0.70000 0.60000 EUR 1.31750 0.91625 JPY 0.19500 0.19500 CHF 0.14000 0.14500 AUD 3.45000 3.48750 CAD 0.50333 0.50000 NZD 3.08750 3.13750 |
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| DailyFX Trend Report
April 1, 2009 at 6:00 pm
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| | About the DFX Trend Index The DFX Trend Index ranges from -100 to +100 and is updated everyday at 5 pm eastern US time. The numbers correspond to specific... |
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| ECB Expected to Cut Rates By 50 bps
April 1, 2009 at 5:45 pm
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| | This Thursday morning, the governing council of the European Central Bank is expected to cut its overnight rate by 50 bps to 1 percent, a new historical... |
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| Yen Crosses: Topping Processes
April 1, 2009 at 4:17 pm
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| | -EURJPY support line defines near term trend -Watch for GBPJPY channel resistance -CHFJPY flat possibly complete -CADJPY bearish against 80.72 |
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| Possible Short Term Triangle in EURUSD
April 1, 2009 at 3:52 pm
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| | There is a possible triangle in the EURUSD from Monday's low. It is conjecture at this point, but the triangle would fit as a 4th wave within an initial... |
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Posted on 10:35 AM
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| Currencies Continue to Consolidate Ahead of G20 (Midday Snapshot)
April 1, 2009 at 11:25 am
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| | The morning data releases are behind us and the market continues to largely consolidate ahead of the much anticipated G20 meeting on Thursday. On the whole,... |
| US Manufacturing Remains in Sharp Contraction
April 1, 2009 at 10:42 am
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| | ISM data for March shows US Manufacturing contracted for a 14th month as recession continues. The Manufacturing index reported higher at 36.3, slightly... |
| Swiss Franc Technical Outlook
April 1, 2009 at 10:42 am
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| | Like the EURUSD, the USDCHF may have resumed its longer term trend towards USD strength. Near term, bulls are in control as long as price is above 1.2222.... |
| Canadian Dollar Technical Outlook
April 1, 2009 at 10:41 am
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| | The short term USDCAD pattern suggests that we should be long, albeit at a better price. There are 5 waves up from 1.22, therefore expect a corrective... |
| Yen Technical Outlook
April 1, 2009 at 10:40 am
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| | The USDJPY is the epitome of frustration. After surging through 99, the pair kissed off of the 200 day SMA and has turned down. The long term wave structure... |
| New Zealand Dollar Technical Outlook
April 1, 2009 at 10:36 am
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| | I wrote last week that "there is a count in the NZDUSD that calls for a wave 2 high to form before .6090. If this is to occur, then a high should form... |
| Australian Dollar Technical Outlook
April 1, 2009 at 10:35 am
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| | "Price action in the AUDUSD since the October 2008 low has carved out what could be a head and shoulders continuation pattern. This is pure speculation... |
| British Pound Technical Outlook
April 1, 2009 at 10:33 am
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| | Price action since 1.35 is a 4th wave that will end as either a triangle or flat. I wrote last week that "since it looks as though the EURUSD long term... |
| Euro Technical Outlook
April 1, 2009 at 10:32 am
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| | My working assumption is that a wave 2 high is in place at 1.3740 (within what will be a 5 wave decline from 1.4723). It is quite possible that 1.3740... |
| Dollar Declines Viewed as Corrective and Should be Bought
April 1, 2009 at 10:17 am
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| | -EURUSD sell zone is 1.3415/50 -AUDUSD topping process -NZDUSD already topped -USDCAD long opportunity |
| USD/JPY Initially Gains on Stronger Than Expected ISM Manufacturing, Pending Home Sales
April 1, 2009 at 10:05 am
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| | US data was broadly better-than-expected this morning, which help to lift USD/JPY from roughly 98.60 up to resistance at 99.06. |
| EUR/USD: Trading the European Central Bank Interest Rate Decision
April 1, 2009 at 9:59 am
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| | The European Central Bank is widely expected to lower the benchmark interest rate by 50bp to a record-low of 1.00% as the outlook for growth and inflation... |
| What Are The Implications Of Quantitative Easing For Currency Markets?
April 1, 2009 at 9:59 am
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| | The G-20 Summit is set to begin on April 2nd and one of the topics of discussion will be the impact of the recent efforts of the major central banks to... |
| FX Focus Shifts to G20 Meeting; Sterling Outperforms (Morning Slices)
April 1, 2009 at 7:14 am
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| | Price action in the majors has been relatively stable overnight with the markets seemingly content on some consolidation ahead of a G20 meeting on Thursday... |
| German Retail Sales Unexpectedly Falls as Labor Market Deteriorates
April 1, 2009 at 7:01 am
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| | Retail spending in German unexpectedly fell 0.2% in February after falling 0.9% in the previous month, which lowered the annualized figure to -5.3%. Meanwhile,... |
| Tech Talk 04.01.2009
April 1, 2009 at 6:15 am
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| Sterling Rises As Manufacturing Activity Jumps, PM Gordon Brown Calls For Urgent Action At G-20
April 1, 2009 at 6:10 am
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| | The Pound would reach an intraweek high of 1.4111 on the back of a better than expected March manufacturing PMI reading that rose to a five month high... |
| Euro-Zone Unemployment Rate Rises to Three-Year High
April 1, 2009 at 5:35 am
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| | Euro-Zone February unemployment jumped to 8.5%. Expectations had been for a reading of 8.3% and with January numbers revised up to 8.3% from 8.2% data... |
| Dollar/Yen Buy Recommendation Issued at 97.75
April 1, 2009 at 5:16 am
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| U.K. Manufacturing PMI Surged to a Five-Month High
April 1, 2009 at 4:51 am
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| | U.K. March manufacturing PMI surged to a 5 month high of 39.1 from 34.9 (revised from 34.7) and well above our market median estimate for 35.1. The index... |
| Euro-Zone Manufacturing PMI Revised Down to 33.9 From 34.0
April 1, 2009 at 4:19 am
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| | Euro-Zone March manufacturing PMI was revised marginally down to 33.9 from 34.0 reported initially. This is still up from 33.5 in February, however. Readings... |
| German Retail Sales Unexpectedly Fall as Unemployment Rises
April 1, 2009 at 2:11 am
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| | German February retail sales dropped 0.2% m/m, after falling 0.9% m/m in January. Sales were down 5.3% y/y, after already declining 1.4% y/y in January.... |
| Post of the Day: Stop Placement
April 1, 2009 at 1:51 am
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| | Student's Question: I couldn't really find any good trades with either MACD or Slow Stochastics so went with a loser to see what you think. Maybe I could... |
| Chart of the Day: USD/CAD
April 1, 2009 at 1:49 am
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| | In keeping with yesterday's theme about potential USD strength, the USD/CAD daily chart seems to be the closest to matching the USD/INX chart shown yesterday. |
| Short-Term Forex Technical Outlook: GBP/JPY
April 1, 2009 at 1:31 am
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| | Fears of a deepening recession in the U.K. paired with a fall in risk appetite led the GBP/JPY to pullback from a three-month high, and the pair is likely... | | | | |
