Subscribe

feed image

Our FX reports

Adam Solomon's insight into business and corporate FX issues.
Your Questions on foreign exchange sent direct to the professionals.
The Economy News brings you the latest foreign exchange rate news.

FX Latest

Check Exchange Rate


Bank rates source: Exchange Rates

INSIGHT

Insurers challenged by increased wild fire risks
With Russian wildfires grabbing the headlines, the Lloyds of London insurance market warns that...Read more...
Swiss bankers dismisses earning season hype
The Economy News presents an excerpt of an article looking into the hype that is the earning season...Read more...
Defending Woodford's Zimbabwean investment
It is lazy journalism to describe the Zimbabwean economy of 2010 as being one that is in scandalous...Read more...
Forex markets await the stress test
Mark Deans at MoneyCorp gives his morning verdict on the forex markets.Read more...
Standard Chartered warn of increased likelihood of double dip recession
Standard Chartered researchers say premature fiscal tightening could cause double dip recession....Read more...
Home Forex Forex Trading Updates and Views Forex trading: Where to find the EUR USD pivot point
Forex trading: Where to find the EUR USD pivot point PDF Print E-mail
Written by Sam Coventry   
Wednesday, 30 June 2010 08:37
Morning technical view roundup on the forex trading markets.


Dollar trading


Delta Index the spread betting firm have witnessed a MACD Crossover on USD CAD.

"MACD Crossover. Signal: Buy @ 10567, Stop 10141, Initial target 11413," say Delta Index.

Japanese Yen trading


EUR JPY has also witnessed a MACD Crossover say Delta Index, "Signal: Sell @ 10794, Stop 11352, Initial target 9682."

Simon Denham at forex spread betting providers Capital Spreads says: "Our clients are now reversing out of yen into the dollar looking for a repeat of recent history and a return to the low 90’s."

Forex trading providers Easy Forex say, "The USD JPY pivot point is at 89.95 with a preference to enter Short positions at 88.90."

Euro trading


Forex trading providers Easy Forex says, "The EUR USD pivot point is at 1.2250 with a preference to enter into Short positions at 1.2240."

Simon Denham at Capital Spreads says:

"The EUR USD has reaffirmed the support in the mid 1.21’s but it must be admitted that the rebound to the current price of 1.2230 is not exactly exuberant.

"Today sees a vast ECB debt repayment of some €450bln from all the European banks and we may see a tightening of short term Libor rates through the rest of the week.  

"Rumour has it that the Spanish banks have been asking for extensions on the monies (which they will probably get) as other financial institutions baulk at lending them any more funds.  Problems for the Southern European banks are unlikely to just disappear and traders continue to short the likes of Bank Santander."
Last Updated ( Wednesday, 30 June 2010 08:42 )