FOREX TRADING

Cable dipped to a low of 1.5766 and has bounced back well above 1.5800 again. Significant Resistance is seen at 1.5850 which needs to be broken for the pair to extend it upmove further. While below 1.5850 a downmove to 1.5750-00 is possible and cannot be ruled out. We will

On Thursday Dollar/Yen increased with 70 pips. The currency couple appreciated from 77.03 to 77.73 yesterday, matching the positive Interbank sentiment at nearly +13%, closing the day at 77.65. This morning the Dollar strengthened slightly further against the Yen, reaching 77.75. On the 1 hour chart new upward channel has

The London session has opened to the news that the Eurogroup finance ministers have rejected the EUR 3.3 bn of budget cuts presented to them by the Greek fin min yesterday. The rest of the currency bloc is playing hard ball with Greece: its wants EUR 300mn more cuts, a

It used to be that flashing numbers on a screen represented the market, sadly these days the market represents flashing poxy numbers. Circular logic? Don’t follow? Well, welcome to my world. The point is that crosses are genuinely moving without any logic to them and watching a screen these days

The sentiment remained mixed in the market as this week comes to an end, where after finance ministers announced that Greece will reach a final agreement next week, markets reversed to the downside as Greek officials disappointed investors more than once, where they failed to meet any deadline so far

Still in the prolonged consolidation pattern after the recent break above 1.3230 and my outlook remains absolutely bullish for a continuation of the uptrend towards 1.3450, en route to 1.3540. Major support are is projected at 1.3210-30 and crucial on the mid-frames is 1.3030. The intraday bias is slightly positive,

It is difficult to choose what has been the most notable event of the last 24 hours. At one point yesterday it seemed like the unequivocal answer would be the news that Greece’s political parties had finally managed to reach a long-overdue agreement on austerity measures the crucial piece

The dominant force in the financial markets yesterday was the announcement that Greece had reached a tri-partisan political agreement on the austerity measures that now finally reach the level required by the troika to enable the delivery of the second Greek bailout programme. The EUR130 billion, however, will not likely

Greece leaders Thursday agreed a deal on reforms and austerity measures in return for a 130 billion euro bailout from international lenders which will help the country to avoid a messy default. ‘The financial survival of the country in the coming years depends on the new program It is

EURUSD With the pair continuing to hold firmly above its key resistance at the 1.3233 level, its Jan 27’2012 high and bullish, the risk is for EUR to target the 1.3375 level, its Dec 12’12 high. A breach of there will aim at its Dec 02’2011 high at 1.3547.

EUR/USD is now well-positioned for further gains and may advance up to 1.3625/30. The following target will be located at 1.3840/1.3900. Dips should be limited by supports at 1.3135 and 1.3048.

It is another day in the Greek farce with European finance ministers now withholding aid until the beleaguered country agrees to and implements austrerity measures. Meanwhile data from the UK and US should be enough to keep us going today.

EUR/USD reached new highs above 1.33 as Greek politicians reached an agreement on austerity measures. However, the rebound of the euro was capped as the Eurogoup failed to rubberstamp the Greek agreement. EUR/GBP is holding close to the 0.8422 resistance as the BoE raised the programme of asset purchases.

On Thursday Pound/Dollar traded within almost 100 pip range. The Cable appreciated from 1.5792 to 1.5886 yesterday, in line with the positive Interbank sentiment at almost +53%, closing the day at 1.5814. Today the British Pound lost all Thursday’s gains, descending down to 1.5766. On the 1 hour chart quotes

It seems that finally Greece has completed an austerity package so that the country can receive a further rescue package in the amount about EUR 130bn. The immediate reaction in the market was slightly positive, but as stated before, a positive result has to a great extent been discounted, and