September 2013 - ForexAbode.com.

US dollar recovery?

September 23, 2013 11:33 am GMT+0  in Forex Fundamentals and News

With the German elections over, attention now focuses on the US debt ceiling. Chancellor Merkel did exceptionally well in the German elections with an estimated 42 per cent of the vote. However, the results leave Merkel’s Christian Democrats just short of an overall majority and a protracted period of coalition building lies ahead. The reaction […]

Weaker than expected UK retail sales perhaps the catalyst to push Sterling lower?

September 19, 2013 9:19 am GMT+0  in Forex Articles

After yesterday’s surge in Sterling after the decision by the Fed chairman not to taper, today’s release of weaker than expected retail sales figures has pushed Sterling lower albeit it is still above 1.61 USD. UK retail sales fell unexpectedly by the most in 10 months which surprised the markets but nothing compared to what […]

Main Highlights of The RBA Meeting’s Minutes

September 17, 2013 9:14 am GMT+0  in Australia & New Zealand

Review of Economic conditions of the major trading partner – Overall Average Highlights: Overall growth of the major trading partners in the second quarter as been in line with the average of the last decade. China: GDP Growth in the second quarter was close to the target of 7.6%. Demand for property continued to rice […]

Sterling close to $1.60 – who would have thought that in July?

September 16, 2013 12:08 pm GMT+0  in Forex Analysis

Sterling touching distance of 1.60 USD does not leave much room for disappointment The announcement late yesterday that Larry Summers has withdrawn from the race to be the new head of the US central bank caused much volatility in the markets in Asia with equity futures surging and the US dollar tumbling against a number […]

Larry Summers’s Pulling Out of Federal reserves Pulls The U.S. Dollar Down

September 15, 2013 11:50 pm GMT+0  in Forex Fundamentals and News

U.S. Dollar fell sharply with the opening of Asian session on Monday 15th. The move took EUR/USD from 1.3295 to 1.3382 within 2 hours. GBP/USD went up from 1.5875 to 1.5951 and AUD/USD jumped from 0.9245 to 0.9394 before settling down a bit. The strong moves were surprising as most of the markets are still […]

GBP/USD – What To Expect Part 2

September 13, 2013 10:45 pm GMT+0  in Chart Alert

GBP/USD moved exactly as we had predicted in our previous chart alert titled GBP/USD – What to Expect?. In fact it would be better to see that post first. The pair moved up to 1.5885 which was just 8 pips below the lower range of the resistance zone mentioned in the last and above mentioned […]

The Euro seems rather high against the US Dollar

September 11, 2013 10:53 am GMT+0  in Forex Fundamentals and News

The Euro has had a tremendous run from early July rising from 1.28 to the current level of 1.33. The currency has been boosted by better recovery prospects. European equities have recovered as the region ended its 18 month recession in the second quarter posting growth of 0.3 per cent.   There have been encouraging […]

Add To Bullish USDJPY Position

September 11, 2013 6:49 am GMT+0  in Forex Fundamentals and News

We wrote about USDJPY breaking higher from recent consolidation on 6 Sep 2013. The price action now is confirming the move to higher levels. The down trend line from May (red downward sloping line) was broken and then tested as support. Prices bounced off the support and continued higher, confirming the move higher. The underlying […]

GBP/USD – What To Expect?

September 10, 2013 5:14 am GMT+0  in Forex Analysis

The week started with positive note for both GBP/USD and EUR/USD. The strong positive correlation between these two currency pairs had gone haywire recently when EUR/USD fell while GBP/USD started moving up. This was expected to come to normal as we had indicated during the beginning of the last week. This week started with a […]

USDCHF is facing channel support

September 10, 2013 4:21 am GMT+0  in Forex Analysis

USDCHF is facing the support of the lower line of the price channel on 4-hour chart, a clear break below the channel support will indicate that the uptrend from 0.9147 had completed at 0.9455 already, then the following downward movement could bring price to 0.8500 zone. On the upside, as long as the channel support […]

Will the sound of gunfire reverse the US dollar’s fortunes?

September 9, 2013 10:23 am GMT+0  in Forex Articles

The USD has weakened again over the last few days which is surprising as the geo-political risk in the Middle East has gained momentum. The likelihood of an attack on Syria increases day by day yet the US dollar seems unmoved. President Barack Obama is expected to address the US on Tuesday evening from the […]

EURUSD’s downward movement extends to 1.3105

September 9, 2013 2:48 am GMT+0  in Forex Analysis

EURUSD’s downward movement from 1.3451 extends to as low as 1.3105. Resistance is at the upper line of the price channel on 4-hour chart, as long as the channel resistance holds, the downtrend could be expected to resume, and further decline to 1.3000 area is still possible. On the other side, a clear break above […]