Top Global Market Stories
The U.S. dollar is trading higher against all of the major currencies this morning despite the lack of U.S. data. Weaker inflation in the U.K. and Germany kept pressure on the EUR and GBP while Japanese Finance Minister Amari’s retraction of Sunday’s comment that “the correction of the strong yen is largely completed” renewed the [...]
Top Trade Ideas
Hello Traders – apologies for the late update this morning. Extremely busy morning on the trade desk here at TradingAnalysis.com.com. To get right down business you should still be short AUD/JPY with me from the May 8th article from 101.25 with stop losses at the same level. COVER THIS SHORT AT MARKET – last trade [...]
By Ilya Spivak
Prices put in a bullish Piercing Line candlestick pattern, hinting at gains ahead. Initial resistance is at 0.9809, the 14.6% Fibonacci retracement, with a break above that exposing the 23.6% level at 0.9869. Near-term support is at 0.9710, the May 17 low.