Fara Wave

Last week Engel and Volkers tried to kick start sales in the stalled secondary Dubai property market with $48 million knocked off the selling price of 150 homes in New Dubai for one day. Not a single unit sold, despite marketing to dozens of clients supposedly interested in bargains and a mortgage company on hand [...]

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The credit squeeze in Dubai took a nasty turn yesterday with the ratings agencies S&P and Fitch announcing negative ratings for state companies and certain UAE banks.
S&P assigned a negative credit rating to six Dubai government entities: DIFC Investments, DP World, Dubai Holding Commercial Operations Group, Dubai Multi Commodities [...]

Dollar stays down after slew of data
NEW YORK (MarketWatch) — The U.S. dollar remained slightly lower on Wednesday after reports on joblessness and consumer spending pointed to further weakness in the economy. The euro rose 0.5% to $1.3995. The dollar index was little changed at [...]

Explosive rebound now trying to regain broken long term Uptrendlines off 2005/2002 lows (1.4140 today), with 50% of drop from 16040 having been retraced (1.4185) Support area at 1.4020/ .3998 (daily envelope bottom/ today’s low?), with next levels at 1.3948/ .3934 (broken daily Bollinger top/ break-up hourly). 1.3728 = daily Short Term Moving Average↑): ideal [...]

Explosive rebound puts pair currently back in long term channels off 2005/2002 lows (bottom at 1.4147 today): Support area at 1.4392 (reaction low hourly), with next levels at 1.4328 (daily envelope bottom), ahead of 1.4283 (broken daily Bollinger top). 1.4013 = daily Short Term Moving Average↑: ideal area to stay above to keep current mood [...]