BoC Raises Policy Rate to 1%, Delivers a Less Dovish Statement

The BOC raised its policy rate by +25 bps, taking the overnight target rate to 1%, in September. While it’s the third consecutive hike since the central bank resumed the tightening cycle in June, financial conditions in Canada remained ‘exceptionally stimulative’ and is consistent with BOC’s 2% inflation target. The

GBP/JPY Pulls Back to Expected Resistance

The GBP/JPY did not reach the 127.50 area as anticipated, but was rather supported above 128.00. In the 4H chart, the market shows a strong reversal, now testing the 50SMA. Now shown here (can see in 1H chart), the current area at 130.20, is the 61.8% retracement of the latest

AUDUSD: Biased To The Upside Despite Correction

We are looking for the present corrective/consolidation price action to fade and then pave the way for a run to the upside. This should see AUDUSD targeting the 0.9221 level, its Aug 06’10 high at first with a breakthrough that level allowing for more strength towards its May 04’10 high

GBP/USD Mid-Day Outlook

Intraday bias in GBP/USD remains neutral for the moment with a temporary bottom in place at 1.5296. At this point, we’d still favor another fall as long as 1.5596 minor resistance holds. Below 1.5296 will target 1.5123 cluster support (50% retracement of 1.4230 to 1.5997 at 1.5114). However, decisive break

USD/JPY Mid-Day Outlook

USD/JPY recovers mildly after dipping to as low as 83.33 earlier today. With 83.98 minor resistance intact, intraday bias remains on the downside and further decline is still expected to continue towards 80 psychological level. On the upside, above 83.98 minor resistance will turn intraday bias neutral and bring recovery.

U.S. stocks fell for the first day in five

S&P 500 (Sep 10) INTRADAY Review U.S. stocks fell for the first day in five, ending the longest streak of gains for the Standard & Poor’s 500 Index since July, on concern the European debt crisis may worsen. Bank of America Corp. and Citigroup Inc. fell at least 2 percent as European banks slid on [...]

GBP/USD Intraday

Forex Market Outlook on Minors/Crosses

INTRADAY TRADING SIGNAL BY ACETRADER.COM: EUR/JPY EUR/JPY  : 106.20 Last Updat e At  08 Sep 2010 09:16 GMT Despite euro’s strg rebound after holding abv intra-day sup at 105.80 (Asia), as long as 106.51/ /62 holds, consolidation with downside bias remains for another fall to 106.00, however, below 105.80 is needed to extend decline fm [...]

Intraday Technicals: Quiet Day Ahead

CURRENCY CURRENT BIAS POTENTIAL STRATEGY EUR/USD (Short Term) Trade in progress: Sold at 1.2863 risking 1.2969 targeting 1.2701 GBP/USD (Short Term) Waiting for a new pattern to emerge USD/JPY (Short Term) Waiting for a new pattern to emerge USD/CHF (Short Term) Waiting for a new pattern to emerge USD/CAD (Short Term) Waiting for a new [...]

EURUSD: Remain Short as Risk Aversion Returns