US Dollar at Risk for Further Declines versus Euro on FX Positioning
Euro Will Struggle to Develop a Trend with Greece Back in the Headlines
Japanese Yen: Speculation for Intervention to Intensify Ahead of BoJ
British Pound May Rise as Bank of England Releases Meeting Minutes
Swiss Franc Vulnerable As SNB Threat Grows
Canadian Dollar on Pace for Parity Against the US Dollar
Australian Dollar May be Losing its Cache as the Only Carry Currency
New Zealand Dollar Drivers Lacking, Ranges Set  to Persist

There is a growing divergence in the state of the financial market’s fundamentals and its general level of activity. In the past week, there have been developments that have degraded the fidelity of the Euro Zone, leveraged the threat of a financial crisis in China and added risk to the very assets that are used to establish risk-free returns.

Over the past week, the US dollar has further worked its way into a complacent zone of congestion. While this may seem a reasonable push towards stability as the world’s economy moves towards recovery and global financial markets stabilize; in reality, there is still a significant gap between growth and asset values and secure financial markets are still a distant ideal.

Many successful day traders use support and resistance in their trading approach since technical indicators have limited value on the shortest time frame charts.  Pivot Points are the preferred way to determine that support and resistance for many of those traders.