Better IFO Helps EUR/USD But 1.30 Proves Elusive

By BKAssettManagement on May 24, 2013 01:31:06 GMT

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 [...]

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

By Michael McCarthy on May 24, 2013 01:16:35 GMT

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 [...]

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

By DailyFX on May 24, 2013 01:34:53 GMT

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.