Author Archives for Firouz MT
Daily Technical Strategist
A cut through key supports at the 1.3259 level, its .618 Ret (0.8231-1.6038 rally, monthly chart) at 1.3058 and the 1.2980 level, its Jun’06 high now leaves the pair exposed to declines towards its Oct’06 low at 1.2484.While another support lies at its Jan’07 low at 1.2866, that support is…
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Investors Moved Into The Safe Havens Of The Dollar, Yen And Swiss franc
The Dollar climbed to its highest since February 2007 against a basket of currencies on Tuesday as investors bet that interest rates outside the United States will fall sharply to shore up global growth. Concerns over the global economy’s health moved investors away from stocks into the safe havens of…
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Technical Analysis Daily: USD/JPY
Yesterday the US Dollar traded significantly lower against the Japanese Yen. The currency couple reached a bottom at 100.09 and closed the day at 100.13. The upward channel of the one and four hour time frame charts were broken downwards. The model is mixed with negative signals. Immediate support is…
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British Pound At Lowest Levels Since 2003, BoE Voted 9-0 For Rate Cut, King Confirms Recession
The Pound fell to a five low as BoE Governor King confirmed what markets already knew, that the U.K. has entered a recession. The pound would drop to as low as 1.62000 before finding support ending a 1400 bps freefall which started at the beginning of the week. BoE minutes…
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