The dollar bill's days may be numbered. At least, that could be the case if one government watchdog had its way.
U.S. Congress, argues that replacing U.S. dollar bills with dollar coins could save the government roughly $4.4 billion in net benefits over the next 30 years.
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Added by Ron Schelling on November 28, 2012 at 9:10pm — No Comments
Buyers have defended 1.2880´s.... and -so far- are still present.
Nevertheless, there might be some scalping opportunities.
I would like to see some sort of reaction from sellers into 1.2960-1.2945, otherwise, upside momentum still on.…Continue
Added by Demian Pack on November 28, 2012 at 9:00pm — No Comments
EUR, DJIA Bounce Back On Fiscal Cliff Trade
by Richard C. Lee, Forex Analyst at FXstreet.com
Following comments by major party leaders and the US President, both the Euro and Dow Jones Industrial Average bounced back from previous losses in the session. For the Euro, it was a bounce back off of support at 1.2880 (or about -60 pips on the day), with the…
Added by Francesc Riverola on November 28, 2012 at 7:41pm — No Comments
HSBC - "On 16 December, Japan goes to the polls, and the financial markets are convinced that FX is the best way to play the outcome, namely through a lower JPY. This time it’s different, or so the JPY bears would have us believe. After frequent false starts, the recent sell-off in the JPY shows greater conviction. Might the consensus, which for years has mistakenly clamoured for a sliding JPY, finally be correct? We suspect not. The current front runner for the prime minister’s job, Shinzo…Continue
Added by Francesc Riverola on November 28, 2012 at 7:23pm — No Comments
First post on the forum. Feel free to provide input, opinions & comments. All are gladly welcomed.
Therefore, provided the pair doesn´t experience an important inflow of buying action in 1.2880´s I´ll be leaning towards more downside,…Continue
Latest improvements at FXstreet.com:
1. Interest Rates: We added a new chart to the Interest Rates to see the historic of each country's one. Click on them to open.
2. "Be Ready", a popular…Continue
Added by Francesc Riverola on November 28, 2012 at 3:30pm — No Comments
Banks are seeing a steep decline in profits from currency trading, as once-lucrative businesses are eroded by the rise of electronic trading and the proliferation of new platforms...
As the easy profits from handling trades for clients vanish, banks are being forced into an arms race, analysts and traders say. That means offering better terms to customers and spending heavily to develop electronic-trading platforms of their own...
***Note how it…
Currently we are at 1.2887 after 5 waves to the upside. Looking for an a-b-c correction to finish and then a bounce to the target area at the resistance cluster (Resistance/R5) @ 1.3028-38. Bounce could be the .500 @ 1.2872 or the .618 Fibo @ 1.2840. The Average Trading range (ATR) is 78 pips.…Continue
Added by Scott Barkley on November 28, 2012 at 2:06pm — No Comments
Budget concerns in the world’s largest economy are projected to derail the recent advances of the Canadian dollar, and lead to losses against the safety bet US dollar. Risk aversion returns in the global market sentiment just a day removed from the holidays, as fresh debacles in the US Congress has already rattled the risk appetite of the markets. The spotlight is back on the United States and developments on negotiations over its looming fiscal cliff, or the lack thereof.
Added by Aviv Shapiro on November 28, 2012 at 11:41am — No Comments
Westpac - "We have been surprised by the extent of the recent AUD/JPY rally but see signs of fatigue. Our base case is for a pullback from the low 86s near term to 84 by year end. Factors to weigh on the pair include a likely RBA rate cut next week and eventual disappointment over what Japan LDP leader Abe can actually deliver in terms of JPY weakness."
Added by Francesc Riverola on November 28, 2012 at 11:25am — No Comments
BNZ - "We have revised up our NZD/JPY forecasts for the next 18 months. We now see NZD/JPY at 70.50 by year-end (previously 66.40), with the cross expected to remain around this level through to December 2013 (previously 67.00 in June 2013, falling back to 66.00 by December 2013). From there, NZD/JPY is expected to gradually trend lower through 2014. In practice, this would imply NZD/JPY moving from the reliable 58.00-69.00 range of the past three years to a higher 62.00-72.00 range.…
Added by Francesc Riverola on November 28, 2012 at 11:15am — No Comments
UBS - "EURUSD BULLISH The pair failed from resistance at 1.3023. Any downside appears to be limited and support at 1.2876 should hold. A break above1.3023 would open 1.3172.
AUDUSD BULLISH With trend indicators bullish, the risk is for more upside and a break above 1.0490 would open the doors to test 1.0625. Support lies at 1.0413."
Added by Francesc Riverola on November 28, 2012 at 11:13am — No Comments
ANZ - "· The NZD tends to exhibit a strong seasonal pattern through December
· NZD crosses offer better directional odds compared to NZD/USD itself, which neatly takes out the USD risk given the uncertainty over the US fiscal cliff
· We recommend going long NZD/CAD at 0.8165 (targeting 0.8350 with a stop-loss at 0.8090) and long NZD/JPY at 67.22 (targeting 69.00 with a stop-loss at 66.70)"
Added by Francesc Riverola on November 28, 2012 at 11:07am — No Comments
EUR/USD got close to the long term downtrend resistance after the Greek deal was announced, but as the details remained unconvincing, the pair retreated. However, it didn't retreat too far, making this line very relevant. In the next possible encounter, will it continue falling or break down once again?…Continue
Added by Yohay Elam on November 28, 2012 at 10:43am — No Comments
Added by 50Pips on November 28, 2012 at 9:13am — No Comments
Added by trendprofiles on November 28, 2012 at 9:04am — No Comments
Added by David Pegler on November 28, 2012 at 7:41am — No Comments
LONG EUR @ 1.2890 SL1.2850 TP 1.2950
LONG EUR @ 1.2860 SL 1.2840 TP 1.2950
on H4 close below 1.2860 do not enter LONG anymore
SHORT EUR below 1.2840 SL 1.2870 TP below 1.2800
GOLD is again in a corective move,
may try to enter LONG GOLD above 1735 SL 1731 TP 1750
below 1730 do not enter long