Nervous Markets Keep Currencies Under Pressure

By davidwaring on May 24, 2013 02:30:13 GMT

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 [...]

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.