Top Global Market Stories
Market Drivers May 21, 2013 RBA minutes show no further inclination to cut UK Inflation materially lower than expected Nikkei 0.13% Europe -0.82% Oil $96.58/bbl Gold $1353/oz. Europe and Asia: AUD RBA Policy Meeting Minutes JPY All Industry Activity Index -0.3% vs. -0.3% NZD RBNZ 2-Year Inflation Expectation NZD Credit Card Spending 4.0% vs. 3.7% [...]
Top Trade Ideas
Time to Buy Aussie AUDUSD shorts have been very successful, and the Aussie’s plunge has been front page news. Now that the rest of the world is looking for a weaker Aussie, it may be a good time to cover shorts and take a shot at the long side for a quick bounce. There are [...]
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.