International Business News - Forex http://www.ibtimes.com/forex/ All articles are copyrighted by IBTimes.com 400 100 http://www.ibtimes.com/ http://www.ibtimes.com/images/top_logo_ibt2_3.gif Fears over the Euro-zone economy are likely to increase in the short term 151986 http://www.ibtimes.com/articles/20080724/euro-zone-fears-to-increase.htm Thu, 24 Jul 2008 06:29:20 EDT The US Dollar continued rising also against the Japanese Yen from yesterday's bottom 107.14 to today's top 107.97, which are the first support and resistance levels respectively for the currency couple today. If the positive trend continues, next resistance further up is expected at 109.50, the break of which would open potential drop towards 110.20. In downward direction next support ... 151985 http://www.ibtimes.com/articles/20080724/usd-jpy-technical-analysis-24-july-2008.htm Thu, 24 Jul 2008 06:28:57 EDT The British Pound also descended significantly against the US Dollar from yesterday's top 2.0027 to today's bottom 1.9829, which are the the first resistance and support levels respectively for the currency couple today. If the negative trend continues, next support is expected at 1.9770, followed by 1.9700. In upward direction next resistance for today is expected at 2.0110, the break... 151953 http://www.ibtimes.com/articles/20080724/gbp-usd-technical-analysis-24-july-2008.htm Thu, 24 Jul 2008 04:38:39 EDT German Ifo business climate index has deteriorated further in July, as firms show increasing disappointment about their current situation while their outlook for the next six months is turning more and more negative, according to the latest survey by the Ifo institute of economic studies. 151965 http://www.ibtimes.com/articles/20080724/update-german-ifo-business-climate-deteriorates-further-in-july.htm Thu, 24 Jul 2008 03:55:00 EDT Retail sales in the United Kingdom have posted in June the largest decline in the last 20 years, reflecting lower sales volume in all sectors, according to data released by National Statistics. 151956 http://www.ibtimes.com/articles/20080724/uk-retail-sales-plunge-in-june.htm Thu, 24 Jul 2008 03:42:00 EDT The metal failed to remain above the 61.8% correctional level but despite that we see the chance for a corrections to the upside. Prices in general have been trading sideways over the medium term between 18.80 and 16.20. The trading range is seen among 16.80 support levels and 18.44 resistance level... 151918 http://www.ibtimes.com/articles/20080724/fundamental-analysis-for-precious-metals-silver-7-24-2008.htm Thu, 24 Jul 2008 03:21:01 EDT Yesterday we expected that the 38.2% correctional level will be weak and today the metal is consolidating around the 50% correction. Gold needs to incline where the ADX indicator gave a signal that the direction will be altered at the moment. From here we expect gold to retest the 38.2% correctional... 151919 http://www.ibtimes.com/articles/20080724/fundamental-analysis-for-precious-metals-gold-7-24-2008.htm Thu, 24 Jul 2008 03:21:01 EDT The U.S. economy eventually will start pumping fundamentals in the markets, after a three days stop, the housing market data will get investors on a high alert again, as the existing homes sales numbers are on the queue today, with expectations of further drop. 151917 http://www.ibtimes.com/articles/20080724/existing-homes-sales.htm Thu, 24 Jul 2008 03:18:01 EDT German Ifo business climate index has deteriorated further in July, declining to a reading of 97.5 from 101.3 in June, according to data released by the Ifo institute of economic studies. 151946 http://www.ibtimes.com/articles/20080724/german-ifo-business-climate-deteriorates-further-in-july.htm Thu, 24 Jul 2008 03:10:00 EDT Business activity in the German manufacturing sector has expanded in June, although at a pace sensitively slower than in June, and very close to the contraction area, while services activity has accelerated on the month, according to the preliminary estimates by NTC Economics. 151937 http://www.ibtimes.com/articles/20080724/german-pmi-manufacturing-declines-in-july-services-pmi-up.htm Thu, 24 Jul 2008 02:38:00 EDT Dollar has been rallying for two consecutive days to reach a month-high. At this point, Nicole Elliott, senior technical analyst at Mizuho Corporate Bank, advices caution, as the bullish momentum seems to be vanishing: "The strongest daily close in ages and almost the highest this year, clearly above the 200-day moving average, is making many very twitchy. The US dollar is almost overbought and bullish momentum is very poor, so we urge extreme caution. We continue to watch for signs of stalling and a wait for a reversal formation on the weekly chart. Expect an upside probe of 108.00 this morning, then drifting very slowly lower this afternoon." 151938 http://www.ibtimes.com/articles/20080724/usd-jpy-the-dollar-rallies-to-a-month-high.htm Thu, 24 Jul 2008 02:22:00 EDT The Euro continued descending yesterday against the US Dollar Tuesday Wednesday's top 1.5797 to the bottom 1.5671, which are the first resistance and support levels respectively for the currency couple today. If the negative trend continues, next support is expected at 1.5600, followed by 1.5535. In upward direction next resistance for today is expected at 1.5865, the break of which would le... 151897 http://www.ibtimes.com/articles/20080724/eur-usd-technical-analysis-24-july-2008.htm Thu, 24 Jul 2008 01:38:10 EDT It is very rich economic day today. The traders focus over the coming key Germany economic reports including the Germany Ifo Business Climate. The recovery of the dollar continues after the strong recovery of the oil prices. 151896 http://www.ibtimes.com/articles/20080724/the-dollar-ups-after-oil-recovery.htm Thu, 24 Jul 2008 01:36:40 EDT Gbp/usd - 1.9979...Although cable has continued to move sideways after the retreat fm 2.0032 (y\'day\'s high) to 1.9961, bids at 1.9950 n 1.9920/30 are likely to underpin sterling ahead of the retail sales data at 08:30GMT. Offers are reported fm 2.0020 up to 2.0050 with some traders dismissing y\'day\'... 151904 http://www.ibtimes.com/articles/20080724/market-moving-news-gbp-usd-jul-24.htm Thu, 24 Jul 2008 00:45:00 EDT Eur/usd - 1.5698...Euro traded as low as 1.5676 this morning on selling fm st specs on rumours that the German Ifo index to be released today may be weaker than expected, however, bids (some were rumoured to be fm sovereign names) emerged abv y\'day\'s low at 1.5670 n the single currency recovered to ... 151905 http://www.ibtimes.com/articles/20080724/market-moving-news-eur-usd-jul-24.htm Thu, 24 Jul 2008 00:40:00 EDT Usd/jpy - 107.81...Dlr retreated fm 107.99 (Australia) to 107.70 b4 stabilising in a relatively thin Asian session. Bids remain at 107.50/60 n also further out ahead of the 107.00 lvl while on the upside, option-related offers are noted at 108.00 with stops placed abv there. More offers fm various a... 151906 http://www.ibtimes.com/articles/20080724/market-moving-news-usd-jpy-jul-24.htm Thu, 24 Jul 2008 00:33:00 EDT EUR/USD Today’s support: - 1.5660, 1.5643 and 1.5612 (main), where correction is possible. Break would give 1.5594, where correction also may be. Then follows 151878 http://www.ibtimes.com/articles/20080723/forex-and-dow-jones-recommended-levels.htm Wed, 23 Jul 2008 23:46:34 EDT The EUR USD continued its reversal down with another sharp break on Wednesday. The U.S. Dollar is reacting positively to the developing stability in the financial industry. News that the Fannie Mae and Freddie Mac plan is advancing without incident through Congress has also been helpful to the Dollar. 151851 http://www.ibtimes.com/articles/20080723/stability-in-the-financial-industry-continues-to-support-u-s-dollar.htm Wed, 23 Jul 2008 21:37:40 EDT EURUSD broke below the support of the up trend line from 1.5302 (June 13 low) to 1.5611. Deeper decline to test 1.5611 previous low support is expected. A break below this level will indicated that the uptrend from 1.5302 has completed and long term down trend has resumed. 151850 http://www.ibtimes.com/articles/20080723/eurusd-broke-below-the-support-of-the-up-trend-line.htm Wed, 23 Jul 2008 21:36:48 EDT Yesterday's resumption of recent upmove in line with dlr's strength across the board suggests further gain to 108.10/20 cannot be ruled out but loss of upward momentum should cap upside below daily chart resistance at 108.59 and yield minor correction later.On the downside, below support at 107.17 (... 151856 http://www.ibtimes.com/articles/20080723/usd-jpy-daily-market-outlook.htm Wed, 23 Jul 2008 20:52:00 EDT