Day: June 23, 2012

June 23
2012

No QE3 from Fed Means Weekly Gains for Dollar

The US dollar rallied this week as the Federal Reserve disappointed Forex market participants who expected a third round of quantitative easing. QE was priced in and its absence moved the currency higher. Many market analysts were pretty sure that the US central bank would announce QE3 this month. They were very frustrated when the Fed failed to do that. The bank extended its Operation Twist till the end […]

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June 23
2012

Forex Technical Analysis for Week 06/25—06/29

Floor Pivot Points Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res EUR/USD 1.2247 1.2383 1.2475 1.2611 1.2703 1.2839 1.2931 GBP/USD 1.5281 1.5419 1.5502 1.5640 1.5723 1.5861 1.5944 USD/JPY 77.46 78.12 79.25 79.91 81.04 81.70 82.83 EUR/JPY 97.09 98.10 99.59 100.60 102.09 103.10 104.59 GBP/JPY 121.17 122.20 123.76 124.79 126.35 […]

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June 23
2012

Aussie Rallies on Hopes for QE3

The Australian dollar rose against most of its major peers as negative macroeconomic data from the United States spurred speculations that the Federal Reserve would stimulate the slowing economy. Many Forex market participants were hoping that the Fed would refer to quantitative easing this month. That did not come to pass. Traders were disappointed, but then started to speculate that QE3 was postponed, not rejected. […]

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