Top Global Market Stories
The dollar had a mixed session today, rising against the pound and yen but falling against the euro, as traders anxiously await chairman Bernanke’s testimony before U.S. congress on Wednesday. The cable fell on the back of weak inflation data out of the U.K. The Office for National Statistics said that consumer price inflation was [...]
Top Trade Ideas
Hello Traders – apologies for the late update this morning. Extremely busy morning on the trade desk here at TradingAnalysis.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.