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Day: November 2, 2013
November 22013
Euro’s Rally Ends Abruptly This Week
The long euro’s rally has ended abruptly this week as the currency posted a sharp drop, demonstrating the biggest loss since July 2012 against the US dollar. Moreover, the future of the currency looks bleak as the European Central Bank may cut interest rates. The euro started the week poorly from the very beginning as it was struggling to stay above the important psychological level of 1.3800 against the dollar. But the major collapse of the shared […]
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November 22013
Forex Technical Analysis for Week 11/04â11/08
Floor Pivot Points Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res EUR/USD 1.3036 1.3258 1.3373 1.3595 1.3711 1.3932 1.4048 GBP/USD 1.5519 1.5714 1.5818 1.6013 1.6117 1.6312 1.6416 USD/JPY 96.45 96.94 97.85 98.35 99.25 99.75 100.66 EUR/JPY 129.22 130.91 132.06 133.75 134.90 136.59 137.74 GBP/JPY 155.01 155.87 156.56 157.42 158.10 […]
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November 22013
Canadian Dollar Remains Elevated
The Canadian dollar remained elevated on Friday after Tuesday’s report, which showed that the nation’s economy continued to grow. The currency ended the session flat versus its US peer. The loonie (as the Canadian currency is nicknamed) remained strong after a report that showed an increase of gross domestic product by 0.3 percent. The currency was a bit soft in the first half of the week, but the second half allowed to reverse losses. The loonie was […]
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