Despite the relative strength on the Dollar,
the index presented a sharp turnaround during yesterday’s session as
counterparts gained intraday strength. The index failed to break
resistance of 81.12 closing the session just off its lows of the day.
Today’s session wasn’t much different, as the index formed a double top
during morning hours and yet again dropped, giving up further strength.
Daily Chart
*charts are courtesy of netdania.com
After a long and tiring meeting, Gordon Brown showed that he had
support of his fellow party members this morning, stressing that he
intends to make major changes regarding his political ways. Even though
the political problems are still far from being over in England,
investors took the news as positive thing driving the GBP/USD higher.
After four days of selling pressure on the Pound, investors took advantage of the pullback, driving the price higher.
The EUR/USD also received positive momentum during early morning hours,
after two days of heavy selling pressure. Germany’s trade balance
showed a slight improvement compared to the month before, but came out
just off analyst’s expectation at 9.4 billion. Exports have received a
major blow over the last couple of months as the global slowdown has
had an enormous affect on demand. Even though figures are showing that
exports are off their lowest levels, numbers are still very low
compared to the year before hand.
Read the full article at dodjit.com
the index presented a sharp turnaround during yesterday’s session as
counterparts gained intraday strength. The index failed to break
resistance of 81.12 closing the session just off its lows of the day.
Today’s session wasn’t much different, as the index formed a double top
during morning hours and yet again dropped, giving up further strength.
Daily Chart
*charts are courtesy of netdania.com
After a long and tiring meeting, Gordon Brown showed that he had
support of his fellow party members this morning, stressing that he
intends to make major changes regarding his political ways. Even though
the political problems are still far from being over in England,
investors took the news as positive thing driving the GBP/USD higher.
After four days of selling pressure on the Pound, investors took advantage of the pullback, driving the price higher.
The EUR/USD also received positive momentum during early morning hours,
after two days of heavy selling pressure. Germany’s trade balance
showed a slight improvement compared to the month before, but came out
just off analyst’s expectation at 9.4 billion. Exports have received a
major blow over the last couple of months as the global slowdown has
had an enormous affect on demand. Even though figures are showing that
exports are off their lowest levels, numbers are still very low
compared to the year before hand.
Read the full article at dodjit.com
