Forex Technical indicators 28.05.2007
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Moving Average:
short MA pointing down looks before a bearish cross the long MA(50)
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RSI
RSI pointing down.
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MACD
MACD afer a bulish cross.
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Bollinger
The pair started a short term correction to down trend, for log term the bullinger bend shows uptrend
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Bollinger Band and RSI
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Fundamentals:
The dollar traded tightly nears a three-month high versus the yen on Monday as markets concluded that last Friday's weak U.S. housing data did little to shore up receding expectations of a Federal Reserve interest rate cut. The low-yielding Japanese currency looked weak across the board as investors continued to favors selling low-yielder’s to fund purchases of higher return assets in carry trades. Other recent U.S. data has been supportive of that view. New U.S. home sales for April released early last week showed their sharpest climb in 14 years, signaling a stabilizing housing market and lowering expectations of a rate cut”. We've seen that the past couple of weeks have been more positive in terms of sentiment towards the dollar and even though we got poor figures from the housing market it didn't change perceptions -- people didn't see that as having a big impact on monetary policy," said Johan Javeus, FX strategist at SEB
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Moving Average and MACD
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