FXstreet.com (Barcelona) For more information, read our latest forex news .

 

FXstreet.com (Barcelona) – Main economies seem to be coming out of the recession tunnel as, by most accounts, we have left behind the worst part of the economic downturn, although Asraf Ladi, Chief Strategist at CMC Markets, warns about weak consumer spending weighing economic growth. According to Laidi , government money lent to banks is not reaching consumers yet: “Central banks are injecting liquidity, taking care of the market side of the story, although, unfortunately, money lent to banks is not reaching, yet, people’s pockets.” Furthermore, with consumers concerned by rising unemployment and foreclosures, the problem will be consumption failing to sustain economy the way government money is doing it: : “With unemployment figures growing and foreclosures lurking, in economies so much consumer-driven as U.S. or UK, the risk is that the consumer might not be able to do for economy what traders are doing for stock markets.” For more information, read our latest forex news .

 

FXstreet.com (Barcelona) – The Pound has appreciated during the week and from Monday’s low at 1.6250, the pair peaked above 1.6600 on Thursday right below 1.6665 which according to Nicole Elliott, senior technical analyst at Mizuho Corporate Bank could be a key level to trigger bulls. According to Elliott , a weekly close above 1.6665 should accelerate bullish momentum: “The longer we hold above 1.6200 the more upside pressure ought to build for an eventual break above pivotal resistance around 1.6665. A weekly close above here should add some much-needed bullish momentum.” Resistance levels, according to Elliott , lie at 1.6605, 1.6625 and 1.6665. On the downside, support levels are 1.6450, 1.6335 and 1.6250. For more information, read our latest forex news .

 

FXstreet.com (Barcelona) – The Euro is showing a mild downward attempt on early European morning and after having capped at 1.4855, the Euro is testing 1.4800/20 area which, according to Carlo Harmer, technical analyst at Charmer chars could be the entrance for a dip towards 1.4785/70 area. Below 1.4815, sellers could bring the pair down to 1.4785/70 fist target, according to Harmer : a break of 1.4815 this morning would make the market weaker with 1.4785/70 then the short term objective. Here sellers will cover. They will look to re-instate shorts on a break of 1.4770 as this would lead the market lower for 1.4750/40.” On the upside, 1.4862 is the level to watch, says Harmer : “There is a little top at 1.4862. If this top gets broken and 1.4885 trades there is not much to hold this until 1.4929/30. Buyers will be taking profits at these higher levels. Sellers may enter, but again stops to be kept tight above 1.4965.” For more information, read our latest forex news .

 

FXstreet.com (Barcelona) – Dollar´s retreat from 92.30 high on Monday bottomed at 90.20 on Thursday’s Asian session, and the Dollar has appreciated to reach an intra-day high at 90.80. The Dollar might have completed its decline from 92.30 high at 90.20 according to Stoyan Mihaylov, technical analyst at Deltastock.com, who sees the Dollar on its way to 91.33: “Our target at 90.20 has been met and a larger rebound is to be expected, for 90.91, en route to 91.33. The overall bias remains negative, but the minor downtrend from 92.32 is already completed at 90.23″ Resistance levels, according to Mihaylov, lie at 90.91, 91.33 and 92.40. On the downside, support levels lie at 90.20, 89.53 and 87.12. For more information, read our latest forex news .