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Thursday, December 20, 2007
euro
The European currency dropped yesterday massively as it passed the key support area at 1.4400s, which took the currency down to hit the major support level at 1.4320s. However the euro reversed back in the last session to the upside regaining some losses. The technical form has adjusted…
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Friday, December 21, 2007
euro
The European currency dropped to a two months low reaching 1.430s support, opening the path to the next support at 1.4270s passing this key level may push the euro further to the significant support area 1.4180s, hence the Euro is expected to move in a bearish pattern as well.
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Friday, December 21, 2007
GBP/JPY
The Pound/Yen pair and just as expected continued its bearish movement yesterday, reaching to a very strong support and a trend line at 223.50, if this line is penetrated even the long term upside trend will be penetrated, so look today to buy dips around that level.
EUR/JPY
The Euro pair…
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Thursday, December 20, 2007
In…In…INFLATION!
The situation might get ugly now that inflation is getting to the economy and getting to it hard. After the release of the data, is the option of a rate cut back on the table? Well for starters it definitely will not be a smart one but if push comes to shove, then it could…
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