In a final hour maneuver, Congressional leaders brokered a deal that will allow the US economy to avert the Fiscal Cliff and alleviate pressure on the financial markets. The passage is being considered by some to be a victory for US President Barack Obama. But, by others, it shifts the focus to mid February when discussions are likely to begin over the impending debt ceiling.
Breakdown of the Cliff Deal
Following months of discussions and…
Added by Richard Lee on January 2, 2013 at 5:03pm — No Comments
With the Fiscal Cliff deal dominating the headlines, another positive report for the US economy has taken a back seat. Although overshadowed, the survey is supportive of the current bullish sentiment and is a boon for the US dollar.
ISM Shows Expansion
For the month of December, US manufacturing activity perked up. The headline index rose to a reading of 50.7, rising above the 49.5 witnessed in November – a 3-year low. The improvement was…Continue
Added by Richard Lee on January 2, 2013 at 5:02pm — No Comments
Added by Dipak Patil on January 2, 2013 at 4:30pm — No Comments
Added by HectorFXtrader on January 2, 2013 at 3:43pm — No Comments
Currently we are at 87.04 in the 5th wave to the top. Look for a continuation to the 88.00-88.15 target area (R6/1.618 fibo). The average daily trading range (ATR) is 58 pips.…Continue
Added by Scott Barkley on January 2, 2013 at 2:20pm — No Comments
There is market optimism in the global financial markets, and the safe haven US dollar is expected to fall against its Canadian currency counterpart. The bipartisan US Congress finally agreed to and voted for a budget deal to avert the fiscal cliff drama. This was a win for President Barack Obama and the Democrats, though Republicans vowed to fight him in coming weeks for spending cuts in exchange for raising the debt ceiling.
A report from Reuters has it that, “the United States…
Added by Aviv Shapiro on January 2, 2013 at 12:40pm — No Comments
EUR/USD has moved higher, but is volatile as the markets reacted enthusiastically to the news out of Washington that both the Senate and the House of Representatives had approved an agreement on fiscal cliff. Although the deal is only temporary and does not deal with a budget ceiling and spending cuts, it does provide some short-term certainty, which is positive for market sentiment. Markets in…Continue
Added by Yohay Elam on January 2, 2013 at 10:13am — No Comments
ASSALAM O ALEIKUM my dear fellows
first of all thanx to ALLAH
today is 1st day of new year market
trend is bullish
EU target is 1.3330 for today…Continue
Moving Average & RSI Show uptrend,
EUR/USD Lifts On US Fiscal Cliff Decision Reached,
Today focus German Prelim CPI m/m,Spanish Manufacturing PMI
Italian Manufacturing PMI & US ISM Manufacturing PMI,
EURUSD can move today 1.3225 to 1.3307 area.
Recommend buy Above 1.3230 Target 1.3270 & 1.3300 Stoploss 1.3200
Moving Average & RSI Show Uptrend,
GBPUSD Lifts on us fiscal cliff…
Added by Naveed Anjum on January 2, 2013 at 6:43am — No Comments
Since there is not much talk about GBPJPY, I just wonder how it will turn out in the first few days of the year...
Everyone should keep in mind that right now it is testing 2011 April highs, and we can still see some further push to the upside as yen weakens across the board. But to be only on…Continue
Added by Tamas Szabo on January 1, 2013 at 11:30pm — No Comments
I see EURUSD moving up to 1.3400
In the very short term looking move down to 1.3120/00 and then I will look for opportunities to long the pair to 1.3400Continue
Added by HectorFXtrader on January 1, 2013 at 9:34pm — No Comments
In my opinion, I think 1,2880 level still acting as a magnet, and I see some congestion until reaching 1,35. Also note that in the past trading sessions, the pair gained quite much, so on my side, I'm looking for bearish price action signals in the next few…
In a late night session, the US Senate approved a deal to avert the fiscal cliff. When markets open after the New Year’s holiday, we could get some rises in stocks and and a weaker dollar. We’ve seen this process begin before the holiday.
However, this is far from a comprehensive long term solution. Here are 3 things to worry…Continue
GBPUSD: Bullish, Eyes Further Upside.
GBPUSD: With a two-day (clearly seen on the daily chart) rally seeing the pair extending its recovery from the 1.6078 level, there is risk of further upside in the days ahead. This will leave the pair aiming at the 1.6306 level with a cut through here allowing for more upside towards the 1.6350 level. Above here will call for a run at the 1.6400 level and then the 1.6500 level. Its weekly RSI are bullish and pointing higher suggesting further…
Added by fxtech on January 1, 2013 at 12:07pm — No Comments
EUR USD on bearish channel now. Watch 1.3156 area and if that breaks then the first target will be 1.3071 and the second target will be 1.2985 - 1.3009 area. and one can look for long position from these levels with SL…Continue
Added by Unni on January 1, 2013 at 9:07am — No Comments
US Dollar Index: With the Index remaining biased to the downside, the risk is for it to return to the 78.53/60 levels. A violation of this level will call for a run at its psycho level at 76.00 level with a break of here turning attention to the 75.00 level and then the 74.00 level, all representing its psycho level. The alternative scenario will be for the Index to return to the 80.09/49 levels. Further out, resistance resides at the 81.18 level with a break above here allowing for more…Continue
Added by fxtech on December 31, 2012 at 7:05pm — No Comments
Currently we are at 1.6257 and have just broken out of the downtrend. The target is the 1.6300 after a pullback to the .382 Fibo @ 1.6216. The big target is the R5 Top at the 1.6450. The ATR (Average True Range) for the pair currently is 57 pips.…Continue
Added by Scott Barkley on December 31, 2012 at 5:31pm — No Comments
According to the most recent CFTC Commitment of Traders Report, traders previously and widely short Euros pared back the remaining bias ahead of the New Year. This has left the single currency widely neutral now, in line with the rest of US dollar bearish positioning.
Traders previously short the Euro pared back remaining positions ahead of the New Year, bringing the overall net position to neutral. Taking a look at data…
Added by Richard Lee on December 31, 2012 at 3:11pm — No Comments