EUR Set To Re-Test Points This Morning
Friday, April 4th, 2008The EUR has set itself for a bullish re-test for a possible 1.5707 and 1.5780 resistance levels on the Fibonacci pivots this morning.
This chart, (click chart to enlarge) indicates a setup for north-bound re-run but at lacking the energy because people are still waiting in the wings for today’s reports. At the moment, the market continues to consolidate make higher-lows and lower-highs creating a spring effect.
Forex: Cable (GBP/USD) Outlook
Friday, August 4th, 2006Cable consolidate gains above the 1.8920 mark making new 11-week highs earlier this morning. The yesterday’s rise of 25bp UK rate is continuing to underpin the pair, as is the risk of a Fed rate pause next Tuesday. Presently, there are speculations on GBP/USD heading towards the yearly high of 1.9026 of May 17th if the July’s US Nonfarm Payroll number fails. On the contrary, above-forecast NFP report could spur pre-weekend profit-taking on long GBP/USD positions. Indicators are still in place for further rise on the hourly chart.
