Day: February 1, 2014

February 1
2014

QE Tapering Leads to Good Week for US Dollar

The most important event for the US dollar this week was the monetary policy meeting of the Federal Reserve. At first, it looked like the event is not going to help the greenback much, but in the end the currency shot out to the upside with the help of quantitative easing tapering. The dollar was not particularly strong at the start of the week. Interest rate hikes from the central banks of India and Turkey resulted in risk appetite on the Forex market […]

Read more
February 1
2014

Forex Technical Analysis for Week 02/03–02/07

Floor Pivot Points Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res EUR/USD 1.3167 1.3322 1.3404 1.3560 1.3641 1.3797 1.3879 GBP/USD 1.6169 1.6298 1.6367 1.6496 1.6566 1.6694 1.6764 USD/JPY 99.79 100.78 101.46 102.45 103.14 104.12 104.81 EUR/JPY 132.66 135.08 136.42 138.84 140.19 142.61 143.95 GBP/JPY 162.63 165.10 166.51 168.98 170.39 […]

Read more
February 1
2014

Yen Ends January on Strong Note

The Japanese yen continued to rise against other most-traded currencies as the market sentiment favored safe assets, making the Japanese currency more attractive for investors. The risk sentiment, which was previously in favor of high-beta currencies, turned sour and made Forex traders flee to the safety of the yen. One of the reasons for concern is possible slowdown of China’s economic growth. Today’s report is expected to show that the manufacturing sector of the Asian country was […]

Read more