Top Global Market Stories
Based on the price action of the currency and equity markets, risk aversion is driving investment flows. The U.S. dollar is trading higher against all of the major currencies with the exception of the Japanese Yen and Swiss Franc. This performance is finally consistent with what we would expect when equities are selling off. USD/JPY [...]
Top Trade Ideas
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 [...]
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.