The cross has continued its upward march and is now at a critical area .  It is at the .786 Fibo and a good place to reverse.  If it does reverse here look for the move to the .9590 – .9600 area .  A break of the .786 targets the double top @ 0.9722 area. [...]

EU Morning Report – Dollar weakness across the board as risk appetite soars! The Dollar was sold across the board as demand for the safe haven eased and the market bought stocks and commodities aggressively. Company Earnings were strong but economic data was a little weak with Weekly Jobless Claims at 464k vs. 449k previously. [...]

Markets brace themselves ahead of Ben Bernanke’s speech! The EURUSD yesterday started the session strong as speculation mounted on Ben Bernanke’s testimony today. The talk on the street was of a dovish Ben and a downplay on US economic growth. This helped spark a selloff in the USD and the EURUSD traded to 1.3029 making [...]

EU Morning Report Hypo Real Estate Bank is first to fail EU Stress tests! The EURUSD initially traded from 1.2860 to 1.2992 following strong demand that emerged from Asian central banks and sovereign buyers. This rally took place despite a Moody’s downgrade of Ireland which gave opportunity for many to buy the dips. As the [...]

Disappointing US retail sales fail to meet expectations! The USD traded mixed yesterday with the currency initially losing again most majors on speculation the FED maybe dovish in the ensuing FOMC minutes and that a possible discussion on renewing Quantitative easing. However the FOMC minutes did not indicate a bearish Fed with minimal downwards growth [...]