Finotec News Archive - August 22 2007
Forex Weekly Analysis
Is The Dollar Rally Done? - Along with the cut, they issued a statement that was far more dovish than the one released at the August 7 FOMC meeting.
Crossing of two moving averages and closing price - Crossing of two moving averages and closing price of the candle is below the short term moving averages
Bank Recommendations - On the charts aiming for a sustained breakdown through $1.36 to leave a double top in place, with $1.3350 still open on a simple swing target.
Company News
Margin Requirement - Lately we are experiencing extreme volatility in the foreign exchange markets, Finotec would like to emphasize categorically that we are not increasing our % margin requirements on spot FX trading, including gold & silver.
Forex Pairs Daily Analysis
USD/CHF Daily Technical Reports - Prices sank o/n after Mon"s failed attempt to rise back above the daily uptrend line they broke below on Friday. O/s hourlies have then sent prices rebounding intraday from 1.2015
EUR/USD Daily Technical Reports - The 38.2% of 1.3840/1.3363 done Friday at 1.3545 has left the market in limbo above yesterday and today"s 1.3460 lows.
GBP/USD Daily Technical Reports - The pair is oversold inter-day and needs time now for studies to unwind from overextended. Additional corrective moves are therefore favored possibly back towards 1.9960-2.0000
USD/JPY Daily Technical Reports - Inside day today as last week"s plunge in prices is consolidated further. Support found at 114.00 o/n. Rebound capped at 114.80 since and 114 in the frame again. 115.25 and 115.50 are resistance.
Forex Daily Analysis
Yen Rises as Higher Volatility - The yen advanced against the euro and dollar as rising volatility increased the risk to carry trade investors of buying assets with money borrowed in Japan. The high-yielding Australian dollar, which has been a beneficiary of carry trades, was among