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.
Political uncertainty in Italy could impact global markets, but provide a “fantastic buying opportunity.” Like Jennifer Lawrence’s fall at the Oscars, unexpected but a chance to shine ‘comedically‘, Italy’s elections have shocked investors but provided attractive entry points to strong international firms, insulated from domestic woes (as well as offer up some funny one-liners from candidates).
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.
The EUR/GBP continued to struggle at the 0.8750 area once again yesterday, ending the trading session with a doji candle, sending a clear signal of indecision at this level, which has been duly validated in this morning’s early trading session, with the pair retreating lower, and moving back below the 0.8700 region at the time of writing.
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.
Gold bugs finally had something to cheer about today as April gold futures finally awoke from their recent slumbers, trading higher in today’s session, and moving to test the $1600 per ounce price level
There was very little good news for Cliffs Natural (CLF, quote) when it released its fourth-quarter results after the closing bell on Tuesday.
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
Daily Forex Analysis – January 16, 2013
The overnight markets once again give a little for everyone as decent swings were seen throughout the evening session. The beans have rallied nearly $1 since last Friday and they had the least impact from the USDA while corn has gained only 40 cents. So what should be done now?
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