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EURAnd so the potential double top in EUR/USD (and its correlated currency pair, USD/CHF) appears to have fizzled out, alongside repeated expectations of a U.S. dollar bounce. This returns forex traders to the original call of ongoing USD weakness and possible parity with CHF, with a run on the historic EUR/USD high of 1.6037 not [...]
The hoped-for August break from EUR/USD summer ranges didn’t happen, as investors’ opinions on the sustainability of the global economic recovery remain mixed. However, September is historically the most volatile month in forex trading, and a range breakout therefore remains possible within the next few weeks. Below is an updated version of the daily EUR/USD [...]
In the second half of 2008, with risk aversion driving both forex trading markets and equities bourses, a tight correlation developed between the U.S. dollar and shares price indices. In particular, this correlation was sharply developed between the Wall Street S&P 500 index and EUR/USD, caused by investors selling off these stock shares and exchanging [...]
It’s said that markets always overreact, with prices rising or falling beyond defensible levels in bouts of irrational exuberance as traders trade for the sake of trading rather than offering or asking reasonable prices for their wares. Nowhere is this truism more telling than the forex trading market. When a currency pair initiates a trend, [...]
A potential intensification of the financial crisis is looming above the Eurozone, one which can be best summed up by the single word globalisation. A recent article in the U.K. Telegraph, written by Ambrose Evans-Pritchard (http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/3260052/Europe-on-the-brink-of-currency-crisis-meltdown.html), and another in the online forex traders’ journal Currency Trader, by Barbara Rockefeller, discuss how multiple major European banks [...]
In July 2007, when the subprime mortgage crisis first hit, EUR/GBP traded within a long-term (dating back to 2003) consolidation between 0.6530 and 0.7020, most recently narrowing to 0.6675 and 0.6870. The first push of the Euro higher, between August and the end of October 2007, on the chart merely appeared to be an extension [...]
