Top Global Market Stories
The dollar extended losses against the yen during Friday’s U.S. session, falling below the 101.00 level, despite encouraging U.S. durable goods orders data. The yen found support after Bank of Japan (BoJ) Governor Haruhiko Kuroda said that monetary stimulus programs were “necessary” but also “sufficient,” and that the bank would do all it can to [...]
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.