USD/JPY Classical Technical Report 04.30
USD/JPY:The latest pullback from the 2012, 84.20 highs is viewed as corrective and it looks as though the market could still see a bit more weakness into the 79.00’s before considering the possibility for the formation of a medium-term higher low. Overall, this is a market that has undergone a major structural shift in recent [...]
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EUR/USD Classical Technical Report 04.30
EUR/USD: Overall, the market remains locked in a very tight directionless, choppy consolidation. Ultimately a break back above 1.3500 or below 1.3000 will be required for clearer directional bias. At this point, we favor selling rallies just over 1.3300, with the level offering a confluence of resistance in the form of a round figure, upper [...]
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Euro Stays Stable as Spanish Economy Shrinks Less than Expected
THE TAKEAWAY: Spanish economy shrank in Q1 – contraction was smaller than expected – battle over austerity continues – Euro largely unaffected Spain’s economy contracted 0.3% in 2012’s first quarter when compared to Q4 2011, the Spanish stats bureau said today. The quarterly contraction in GDP was smaller than the 0.4% markets had expected. The [...]
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