Tuesday, April 17, 2012

During the start of today's webinar, we briefly discuss the recent price behavior in the EUR/USD and the reasons for the negative handover from yesterday's risk on rally to today's rangebound market. There were rumours circulating that Middle Eastern Sovereigns were purchasing the EUR/USD near areas of support around the 1.3100 handle, in an attempt to prevent the pair from collapsing lower. This move higher was also aided by the good Spanish T-Bill Auction that met its expectation, albeit at a much higher yield.  This fair takeup of Spanish paper was done despite worries over Spanish debt and other soveregn debt woes in the Eurozone. We also saw April ZEW Economic Sentiment headline numbers come out better than expected, which also contributed to the risk appetite. In today's webinar, we discussed the impact that liquidity provisions are having on the equity market. We also performed a fibonnacci retracement study to identify potential areas of support & resistance for trade entry.

Wednesday, April 11, 2012

During today's trading session, the EUR/USD pair had extended its correction to the upside and rallied 90 pips from the session low at 1.3067 to the session high at 1.3157, which is a common resistance level. In today's technical analysis review, we will briefly explain the price action in the EUR/USD pair and identify common areas of support & resistance for potential trade entries.