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July 2008 Blog Posts (2)

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EUR

Wall Street extending its recovery on the back of positive employment figures in the private sector together with Fed injecting liquidity to flush the banking system to ease the mortgage crisis are factors influencing further dollar gains. Together with hedge funds liquidation forcing oil to move closer to $120 per barrel brought about fresh dollar buying that could extend during Asia trading session. Month-end dollar requirements especially from corporate in Asia provided additional support… Continue

Added by chosenone on July 31, 2008 at 6:15am — No Comments

EUR

EUR running out of steam on its bounce off the overnight low at 1.5555. It is presently struggling to sustain the move above 1.5580 after facing selling interests on approach of 1.5600. Failure couple with a return below 1.5580 may prompt EUR to carry out another attempt lower. We closed our long position at 1.5592 and turned short at 1.5586 for a possible move to 1.5500/20.



The fallout in oil prices together with the positive US consumer confidence rising has overshadowed the… Continue

Added by chosenone on July 30, 2008 at 11:05am — No Comments

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