German business confidence improved marginally which should have been bullish for the euro, but unfortunately the most actively traded currency pair in the forex market has remained under pressure throughout the European and U.S. trading sessions. So if the EUR/USD is not responding to economic data then what is driving it lower?
Five factors:
1. [...]

Posted in 2009 eurusd forecasts, eur/usd, forex blog 6 Comments »

We have a major technical break in CAD/JPY this morning. The currency pair has broken below trend line support, the 50-day SMA and the 23.6% Fibonacci retracement of the year to date rally. Next stop could be 81.50. Lower oil prices are playing a big role in the move. Read all about it [...]

Posted in 2009 canadian dollar, Bank of Canada, Forex Technicals, forex blog 1 Comment »