GBP/JPY did dip back quite far following the outside bar / false-break we discussed at 170.00. Prices actually dipped below the low of the false-break bar so may have stopped traders out if they had buy-limit orders pending still. It's usually sensible to cancel pending orders if the market does not play out in 2-3 days, and this market really too 5-6 days to dip back, so…Continue
Added by Lewis Barber on June 1, 2014 at 9:22pm — No Comments
EURUSD: Halts Weakness, Faces Recovery Risk.
EURUSD: Although EUR remains biased to the downside in the medium term, it faces the risk of a recovery higher triggered on Friday (see daily chart). If this continues, expect further upside towards the 1.3700 level where a break will aim at the 1.3774 level. A break will set the stage for a run at the 1.3839 level. Further out, resistance resides at the 1.3905 level and 1.3900 level. On the other hand, support lies at the 1.3685 level, its…Continue
Added by fxtech on June 1, 2014 at 12:40pm — No Comments
EUR/USD remained depressed and tested lower ground. And now, it’s money time with the ECB decision. What actions will the ECB take? Will the euro further fall or is it already priced in? We have fresh inflation numbers preceding the decision, as well as quite a few other indicators on the docket. Here is an outlook on the highlights of this week and an updated technical…Continue
Added by Yohay Elam on June 1, 2014 at 11:01am — No Comments