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Unlike Monday, when efforts were made by BSP functionaries to conceal that the garland was made of currency notes, the party gloated about the gift Wednesday. Mayawati’s cabinet minister Naseemuddin Siddiqui declared: “This garland has been made ...
Publ.Date : Thu, 18 Mar 2010 01:19:00 GMT
March 18 (Bloomberg) -- Canadian Prime Minister Stephen Harper’s government is shifting its rhetoric on the Canadian dollar and playing down concerns about the currency’s gains in a bid to brace companies and consumers for parity with the U.S ...
Publ.Date : Thu, 18 Mar 2010 05:00:00 GMT
Treasury has the option of declaring Beijing a currency manipulator. That would set the stage for a complaint to the World Trade Organization and possible sanctions. On Sunday, Premier Wen Jiabao ... recovered yet," Yao said. He noted China runs ...
Publ.Date : Thu, 18 Mar 2010 05:29:00 GMT
The American Automotive Policy Council -- representing ... decision to proceed with or continue such interventionist policies will be strongly and directly challenged by the United States in defense of fairness and American jobs," the leaders said.
Publ.Date : Wed, 17 Mar 2010 21:58:00 GMT
BEIJING: The World Bank on Wednesday ... tough new penalties on China if it failed to revalue its currency, which they say Beijing keeps artificially low to secure an unfair edge in trade. The US action follows Chinese Premier Wen Jiabao's insistence ...
Publ.Date : Wed, 17 Mar 2010 08:08:00 GMT
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Internet Forex Trading Currency Trading Signal
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Further Strength Against the Greenback
Sure Fire Trading. Trading Systems, Methods And Signals. Who Else Wants To Trade Like A Pro
It doesn't matter if you trade Forex, Futures, Stocks, Commodities or any market for that matter. This code that I am talking about will rock everything you have ever learned about trading!
Author: Gabriel Andre, Editor, The Swarm Trader
This currency pair has been falling down for the
last 6 weeks and may reach soon the low levels posted in late 2008 and early
2009, when 1 US Dollar was exchanged against "only" 87.10 Japanese Yen. The
current rate is around 89.60. A further decline by 2.80% would drive the pair to
the support level of 87.10.
On the weekly chart, the bearish trend
triggered in June 2007, more than 2 years ago, remains in place. The long-term
descending resistance line (in red) starts from the high point of June 2007
(point A, at 124.16) and goes through the lower highs of August 2008 (point B,
around 110.60) and the recent peak of last month (point C, at 97.72). The weekly
MACD triggered a bearish signal in early July this year and argues for a
continuation of the negative trend.
On the daily chart, the price
action of 2009 looks clear. After the plunge between August 2008 and the low of
December 2008 (between points B and D, down 21%), the pair bounced back quickly
before falling back to 87.10 (points E). Points D and E have created a
"double-bottom" chartist pattern that suggests a trend reversal. Until early
April, the price action retraced a large part of the previous decline. This
rebound ended on the last significant Fibonacci ratio (61.8%), which
corresponded to the level around 101.50 (point F).
Point F has been the high of
the year so far. A progressive correction has followed, as regular lower highs
and lower lows were posted between April to current date.
On the
short-term, it is likely that the bear players will push further down the rate
towards the previous lows just above 87. As this level has already been a strong
support once, it may trigger one more time some buying interest and generate a
rebound. Indeed, the pair is already oversold according to the Relative Strength
Index (RSI).
On the downside, a break below 87 would accelerate the
bearish trend.
Good investing,
Gabriel.
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