Advantage Of An Overbought Aud/usd

(Reuters) - The euro held steady in Asia on Tuesday as markets remained sanguine that Greece will eventually clinch a rescue package, even as the country's political leaders delayed their decision to accept painful terms by yet another day. Failure to secure the 130 billion euro ($170 billion) rescue would risk pushing Athens into a chaotic debt default and destabilize the entire euro zone, an outcome deemed too extreme to contemplate. That was seen keeping euro bears restrained for now at least, resulting in a volatile but resilient single currency. It stood at $1.3122 on Tuesday, little changed from late New York levels. A recovery from $1.3026 overnight kept the common currency within reach of a six-week peak around $1.3230 set last week. Only a clear break of $1.3020 would see the ...

www.sunbirdfx.com The US stock market opened the trading week on a mixed territory but with strong signals for a positive continuation. The indices opened the trading day more than 0.5% but started rising after the first hour. Eventually, NASDAQ was the only major index to close in the positive territory. AUD/USD Since the Aussie broke through the resistance of the 200 SMA at 1.04, the Australian dollar gained almost 300 pips before it reached the resistance of the round number 1.07. The higher-lows pattern that occurred under the 200 SMA suggested that there was a strong pressure of buyers under these, and it was a great trade for those who implemented this trade idea. Now the price is close to the resistance in the daily chart at 1.075 and a strong break-out there will trigger many ...

After reaching a six-week high against the US dollar in early trading yesterday, the euro staged a downward correction after Greece once again failed to come to an agreement with its creditors regarding its debt. Today, traders will want to continue monitoring announcements out of the euro-zone, with any further negative news likely to bring the common currency further down. Additionally, economic indicators out of both Germany and France are likely to influence euro pairs today. Economic News USD - Dollar Stages Upward Correction Following Poor Euro-Zone News The USD came off a six-week high against the euro in trading yesterday, after news that Greece had once again failed to come to reach a debt swap deal with its creditors. Earlier in the day, the EUR/USD reached as high as 1.3231 ...

ForexPros Daily Analysis July 05, 2011 Today: Free webinar on ForexPros - Using Candlesticks to Trade Forex Expert: Marc Principato Start: Tue, Jul 5, 2011, 10:00 EDT End: Tue, Jul 5, 2011, 11:00 EDT Candlesticks provide valuable information about price action when used correctly. From gauging momentum to better defining entries and exits on any time-frame, candlestick analysis provides unique advantages not found in other types of charting. Also covered in this presentation are the candle patterns that we find most useful for the short-term strategies that we employ in the chatroom each day. Click here to join free --- Aussie & Kiwi review ahead the Australian cash rate AUD/USD There is lots of news regarding the Australian economy that have been published during the past ...

With Europe still on holiday in observance of Easter, today's markets will be highly illiquid, making most currencies continue to trade within tight ranges until the opening of trading on Tuesday. Tomorrow's news should be much more affecting on the region's currency values, but as for today traders may want to look to the USD for market direction with its impactful housing report scheduled for 15:00 GMT. Forex Market Trends EUR/USD GBP/USD USD/JPY USD/CHF AUD/USD EUR/GBP Daily Trend Weekly Trend Resistance 1.4645 1.6595 83.10 0.8950 1.0819 0.8905 1.4622 1.6573 82.80 0.8925 1.0789 0.8882 1.4591 1.6540 82.48 0.8887 1.0755 0.8851 Support 1.4530 1.6480 81.85 0.8826 1.0690 0.8779 1.4499 1.6448 81.53 0.8790 1.0658 0.8747 1.4472 1.6425 81.32 0.8771 1.0635 0.8725 ...

The US dollar reached its lowest level against the euro in five months Wednesday, as investors anticipated a Federal Reserve move to boost the ailing economy by renewing spending policies. Economic News USD - Dollar Continues to Slide The US dollar fell for a fourth straight session on Wednesday, hitting a fresh five-month low against the EUR, as traders brace for more weakness amid growing prospects for further U.S. monetary easing. By yesterday's close, the USD fell against the EUR, pushing the oft-traded currency pair to 1.3630. The dollar experienced similar behavior against the JPY and closed at 83.50 level. Generally weak U.S. economic data has fueled speculation the Federal Reserve could embark on a second round of quantitative easing, which would be negative for the dollar. ...