USDCHF’s upward movement from 0.9021 extends to as high as 0.9567. Key support is located at the upward trend line on 4-hour chart, as long as the trend line support holds, the fall from 0.9567 could be treated as consolidation of the uptrend, another rise to 0.9600 area is still possible after consolidation.
Futures Rise After Australian Employment, ECB Report U.S. equity futures traded slightly higher in early pre-market trade following stronger than expected Australian employment data and also dovish comments from the ECB in its Monthly Bulletin. The ECB sees the eurozone economy stabilizing in 2013 with growth returning this year and sees inflation remaining tepid with downside risks remaining.
Short Term Daily Forex Analysis – USDJPY stays above a upward trend line on 4-hour chart, and remains in uptrend from 90.93, the fall from 96.70 is treated as consolidation of the uptrend.
Daily Forex Analysis – USDCHF’s fall from 0.9552 extends to as low as 0.9436. However, the fall is likely consolidation of the uptrend from 0.9021.
There was very little good news for Cliffs Natural (CLF, quote) when it released its fourth-quarter results after the closing bell on Tuesday.
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USDJPY broke below the lower line of the price channel on 4-hour chart, and is now in consolidation of the uptrend from 82.11. Range trading between 86.82 and 89.67 would likely be seen in a couple of days
And so the bullish trade returns. The up-down-up-down pattern that has developed over the past week continued yesterday in WTI and cast a positive light on an otherwise neutral-appearing chart. Brent appears similar, but couldn’t get much of a rally going yesterday.
Daily Forex Analysis – January 16, 2013
FOREX Market Analysis for Tuesday January 15, 2013
