Swiss national bank had in month of August 2011 announced to buy unlimited quantities of foreign exchange to defend its currency from further appreciation. However SNB finds that CHF has fair value around 1.35, to protect its export based economy this task has been taken. Traders have noticed spike in EURCHF pair just after Swiss national bank announced, it is going to buy unlimited amount of ... [Continue Reading]
S&P Cuts France AAA Rating and Downgrades Total 9 Eurozone Countries
Stand and Poor's (S&P), one of the 3 largest rating agency, has cut the rating of France and 8 other Euro-zone countries so total 9 countries were downgraded on last Friday. France has lost its AAA with one notch so France now has AA+. While Italy and Spain were downgraded by two notches. This is very bad news for Euro-zone economies. S&P has warned months ago about the possible downgrades as ... [Continue Reading]
Euro Makes Fresh 20 Months Low, Huge Selling Before Italian Bond Auction
Italian Bond auction is to be done today and ahead of event we have seen huge selling in Euro against US Dollar. There is still more uncertainty and concerns regarding Italian bond auction across European region. Selling on EURUSD was so intense that, pair has made fresh 20 Months low at 1.2847 falling by more than 50 pips in few minutes, and the pair is still under selling pressure. Any pullback ... [Continue Reading]
Forex Trading: AUDUSD Trading with Technical Analysis, Bullish Outlook for Short Term: Buy AUDUSD
Australian dollar has corrected from its high of 1.1078 level, this level was the highest level of decade. We have seen AUSUSD pair correcting from the 1.1078 level to 0.9926 level, this correction has made good buying opportunity in the forex market. As the global meltdown was another issue which created global demand for USD in market and the selling in other currencies. Also we have noticed ... [Continue Reading]
Swiss Franc Trading Strategy using Technical Analysis Today, USDCHF Pair May see Further Consolidation, Short Sell USDCHF Below 0.7985
Swiss Franc was on strong down trend and we have recently seen the monetary measures taken by the Swiss National Bank (SNB) to depreciate its currency and then we have seen a bounce in CHF against USD. So still we will be looking for selling opportunities as long as the pair is in down trend. Taking a look at the technical charts we see that price action has struck against the 61.8% Fibonacci ... [Continue Reading]
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