Day: October 23, 2010

October 23
2010

How G-20 Meeting May Influence Japanese Yen?

The Japanese yen demonstrated yesterday the same pattern as other currencies as it was highly volatile, yet closed near its opening level. Unlike some other currencies it managed to close above the opening level against most currencies. The explanation for such behavior is simple: the traders were agitated, anticipating the G-20 meeting, yet was unwilling to risk as the outcome of the meeting is far from clear. It was obvious […]

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October 23
2010

Euro Struggles Extend Its Rally vs. Dollar This Week, Fails

The euro struggled this week to sustain its rally against the US dollar. The speculation that the euro was overbought limited its gains but the fundamentals were supporting the currency for the most part. Against the US dollar and the Japanese yen the currency showed the same pattern. It strongly declined after China’s decision to raise the interest rates, which drove the investors to the safer currencies. But in the second half of the week the euro attempted to rise […]

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October 23
2010

Forex Technical Analysis for Week 10/25—10/29

EUR/USD trend: hold. GBP/USD trend: sell. USD/JPY trend: hold. EUR/JPY trend: hold. GBP/JPY trend: sell. Floor Pivot Points Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res EUR/USD 1.3384 1.3541 1.3735 1.3892 1.4086 1.4243 1.4437 GBP/USD 1.5198 1.5424 1.5551 1.5777 1.5904 1.6130 1.6257 USD/JPY 79.74 80.29 80.82 81.37 81.90 82.45 […]

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