Today is Fri, May 24, 2013 13:35:41 GMT
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Euro

Better IFO Helps EUR/USD But 1.30 Proves Elusive

Market Drivers May 24, 2013 IFO beats handily driving EUR/USD towards 1.3000 Nikkei seesaw putting USD/JPY on roller-coaster Nikkei 0.89% Europe 0.56% Oil $94/bbl Gold $1387/oz. Europe and Asia: NZD Balance 157M vs. 475M EUR German GDP -1.4% vs. -1.4% EUR German GfK Consumer Confidence Survey 6.5 vs. 6.2 EUR German IFO – Business Climate [...]

Top Trade Ideas

Trade of the Day for May 24th, 2013 – Short EUR/SGD

Swing with Euro Sing Who doesn’t like a good swing trade? EUR/SGD is on my radar from the breach of short term resistance at 1.6300. For mine, the five day trend is against the fundamentals – QoQ reads of GDP show Singapore is emerging from contraction, whereas tonight’s final GDP in Germany is likely to [...]

Featured Chart

Chart of the Day for May 24th – AUD/USD

By Ilya Spivak

Prices are testing support in the 0.9663-82 area, marked by the November 23 2011 low and the 23.6% Fibonacci expansion. A break below that eyes the 0.9580-84 region. Near-term resistance is at 0.9841, the May 21 swing high. Positive RSI divergence argues in favor of an upside scenario.

audusd

Global Market Commentary

Chart of the Day for May 24th – AUD/USD

By Ilya Spivak Prices are testing support in the 0.9663-82 area, marked by the November 23 2011 low and the 23.6% Fibonacci expansion. A break below that eyes the 0.9580-84 region. Near-term resistance is at 0.9841, the May 21 swing high. Positive RSI divergence argues in favor of an upside scenario.

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