EURCHF traded below the floor price set by SNB (Swiss National Bank), we have seen it trading at 1.1987 today. However SNB stepped in and soon EURCHF shot towards 1.2025 level, this fall in EURCHF will be short lived as SNB has promised that it is going to buy unlimited amount of foreign exchange to prevent CHF to strengthen further. Just after breaking below 1.20 level, SNB chief said that Swiss ... [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]
GBPUSD: Bank of England Interest Rate Decision and Techniacal Analysis for 4 August 2011: Buy or Sell GBPUSD
Bank of England is going to announce its decision on interest rates this afternoon, We believe that Bank of England will keep the interest rates unchanged at 0.50%, as growth slowdown was seen in last few months and we are sure that the BoE will be pressured to keep the rates unchanged. Also the inflation there is not a big reason to worry about in UK region. So we will be placing our bets that ... [Continue Reading]
Forex: EURUSD Trading Analysis and Target Level for Next Week 1 August 2011, We are Bullish
EURUSD has started to consolidate as there is uncertainty in both region United states and European region. Taking a look at technical charts we see EUR/USD has rallied sharply from 1.40 levels and we believe this trend on EUR/USD to continue upto its next resistance of 1.44 level, this is our initial target level on 4 hour chart. So we will be looking for buying opportunities as long as the pair ... [Continue Reading]
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