Traders have long used moving averages to measure momentum and define areas of support and resistance. Moving averages are calculated by averaging the value of a security’s price over a set amount of time, with the result being a curve that smooths price fluctuations. This tool’s main weakness lies in how it is calculated; because...Read More →
FOREX- The yen earlier earlier trimmed some of its gains as a 100-basis-point drop versus the dollar spurred vague talk of yen-selling intervention by Japanese authorities. Traders later said there was no intervention, but they were wary Japan may act to stem a sharp yen rise, especially if the dollar were to fall below 80 yen.
The Euro rises on rates Friday after remarks by a European Central Bank member revived expectations of higher interest rates in the euro zone. The single currency has been intermittently pressured this week by Middle East tensions and investors focusing on the 17-nation currency bloc’s still-unresolved debt problems. But Friday, ECB executive board member Lorenzo Bini...Read More →
Euro strength today is capping off a rebound week against the US dollar with the EUR/USD pair reaching 1.3650 in Friday’s forex trading. The pair is demonstrating renewed bullishness this week after a retreat from the 1.3861 February 1st high to a February 14th low of 1.3428. Today’s action has seen the pair ascend with...Read More →