USDCHF USDCHF closed @ 8705 which was ABOVE the open and breached the previous day’s high. The High was PRECISELY at Precise Trader’s Res Tgt 2 and the Low was 30 pips from Precise Trader’s Sup Tgt 2.   The Hourly Oscillators are Bullish and the Price is Within the MA, so the Bears have to [...]

Last week’s currency trading review The Dollar was under broad pressure for most of the week as the FED meeting ended with an expansion of the monetary easing program by 600Bn. Adding to the Dollar weakness was strong risk appetite with global stock markets gaining over 3%. The USD did pare back some losses on [...]

EUR/USD The dollar failed to secure any fresh support during Tuesday and weakened steadily in US trading with the Euro able to break above the 1.40 level, helped in part by a favourable technical outlook. There was renewed speculation that the Federal Reserve could adopt a more aggressive policy towards quantitative easing, but the key [...]

The market is turning cautious ahead of the Fed’s meeting The Fed will begin the 2-day FOMC meeting today.  The Fed is widely expected to announce a second round of monetary easing on Wednesday, with markets generally priced for the central bank to commit to buying at least $500 billion in Treasury debt over the [...]

EUR/USD The Euro was unable to make a fresh challenge on resistance levels near 1.40 during Tuesday and was generally on the defensive with no support from stronger than expected Euro-zone industrial orders data. The Euro was more vulnerable on technical grounds with a lack of momentum compounded by a firmer US dollar trend. There [...]