The US stock markets are about to close another green week as NASDAQ led the indices with 0.75% up. The risings came on the background of mixed data as unemployment claims were lower than the forecasts but the ISM manufacturing PMI disappointed, as well as the personal spending & income.
GBP/USD
The continuation of the risings in Wall Street supports the major currencies versus the USD, including the pound that just last week traded around 1.56, and it is now approaching 1.60. The pound created the triple-bottom on that support and though it looked like it was about to break-down, the British currency managed to rise and overcame the resistance of the 200 SMA, which is now supporting it. A break-up of the resistance at 1.60 might take the price to the highest pick since October 2011 at 1.6165.
AUD/USD
The Aussie is trying to break-through the resistance at 1.08, in which it has failed to break few times in the recent months. In fact, many up-tails extend from the candlesticks from the recent period, which means that there are many sellers around this level and the next break-up might be another false one. However, the pair made a correction down to 1.06 last week and this might give the Aussie enough power to make a powerful break-up. If it succeeds, the pair might jump to the next height at 1.105.
Precious Metals
The precious metals had a great momentum since the beginning of the year. They rose sharply since the beginning of the year, after rough times in the second half of 2011. Bernanke's speech on Wednesday disrupt the investors plan as he mentioned that the Gold's prices were too high and caused sharp declines in both Gold $ Silver prices. The expected up-correction occurred yesterday and the main question in this point is whether the prices break Wednesday low and continue falling, or rise above yesterday's high and try to get back to their recent picks.
GBP/USD
The continuation of the risings in Wall Street supports the major currencies versus the USD, including the pound that just last week traded around 1.56, and it is now approaching 1.60. The pound created the triple-bottom on that support and though it looked like it was about to break-down, the British currency managed to rise and overcame the resistance of the 200 SMA, which is now supporting it. A break-up of the resistance at 1.60 might take the price to the highest pick since October 2011 at 1.6165.
AUD/USD
The Aussie is trying to break-through the resistance at 1.08, in which it has failed to break few times in the recent months. In fact, many up-tails extend from the candlesticks from the recent period, which means that there are many sellers around this level and the next break-up might be another false one. However, the pair made a correction down to 1.06 last week and this might give the Aussie enough power to make a powerful break-up. If it succeeds, the pair might jump to the next height at 1.105.
Precious Metals
The precious metals had a great momentum since the beginning of the year. They rose sharply since the beginning of the year, after rough times in the second half of 2011. Bernanke's speech on Wednesday disrupt the investors plan as he mentioned that the Gold's prices were too high and caused sharp declines in both Gold $ Silver prices. The expected up-correction occurred yesterday and the main question in this point is whether the prices break Wednesday low and continue falling, or rise above yesterday's high and try to get back to their recent picks.
Risk Disclosure
Trading and the execution of transactions in currencies, commodities,CFD indexes and other financial products with or without using high financial leverage, is speculative trading of high risk and may cause substantial gain or loss proportional to the size of the collateral, up to the total loss of the collateral sum in a very short period. The fluctuation of the prices and rates in the currency markets, commodities, CFD ,indexes and other financial derivatives are often volatile and there is no accurate forecasting as per the size of the change, its direction and the time frame in which it occurs.You must consider carefully and seriously if this type of financial activity fits your needs, your financial resources and personal circumstances. Since the risk of losing some of the invested funds or all the funds in a relative short period is high; it is recommended that you use for that purpose funds which you designated for speculative financial transactions of high risk.
You acknowledge and fully understand that there may be more and other risks which are not detailed or not cotained above
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