Day: August 20, 2011

August 20
2011

Swiss Franc Weakens This Week, Reverses Downtrend by Weekend

The Swiss franc was down for the second week as prospects of peg of the currency to the euro significantly reduced appeal of the franc a safe asset. At the beginning of the week the franc continued its run to the downside that it has started in the previous week. For some time it looked like we would see another week of significant losses of the Swiss currency. The Swissie reversed its trend after the Swiss National Bank announced on August 17 yet […]

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August 20
2011

Forex Technical Analysis for Week 08/22—08/26

Floor Pivot Points Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res EUR/USD 1.3979 1.4110 1.4253 1.4384 1.4527 1.4658 1.4801 GBP/USD 1.5912 1.6083 1.6273 1.6444 1.6634 1.6805 1.6995 USD/JPY 74.78 75.36 75.94 76.52 77.10 77.68 78.26 EUR/JPY 107.09 108.05 109.12 110.08 111.15 112.11 113.18 GBP/JPY 122.98 123.97 124.97 125.96 126.96 […]

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August 20
2011

Carney Expects Economic Growth, CAD Fluctuates

The Canadian dollar was closed flat against the US dollar and the Japanese yen as contradicting signals haven’t allowed the currency to establish a clear trend. Mark Carney, Governor of the Bank of Canada, outlined some downside risks for the economy of Canada in his speech yesterday: In recent weeks, several downside risks to the Bank’s July Monetary Policy Report (MPR) projection have been realised. The European sovereign crisis has intensified, the U.S. credit rating […]

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