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  1. EUR/USD – Under Pressure as ECB gives deadline to Cyprus

    by , 03-22-2013 at 06:11 AM
    [COLOR=#444444][FONT=Arial][B][URL=""]EUR/USD[/URL] remains under pressure in Friday trading, as the Cyprus bailout crisis deepens. Following Cyprus’ rejection of a bailout agreement, the ECB announced on Thursday that it would stop providing financial support to the country’s banks next week, unless a new agreement on a rescue package was reached. There were plenty of releases for the markets to digest on Thursday. In the Eurozone, PMI numbers out of Germany, France and the Eurozone all fell below expectations. The news was better out of the US, as Unemployment Claims and the Philly Fed Manufacturing Index looked sharp. Existing Home Sales improved, but still missed ...
  2. EUR/USD Lower after Weak Euro PMIs, Ongoing Cypriot Crisis

    by , 03-21-2013 at 06:41 AM
    [COLOR=#444444][FONT=Arial][B][URL=""]EUR/USD[/URL] has lost ground and is showing volatility in Thursday’s European session, following the release of weak PMI numbers out of the Eurozone, Germany and France. The euro is also under pressure as Cyprus rejected a bailout package which included a contentious bank tax. In the US, the Federal Reserve said it would continue its current round of QE. On Thursday, Spain holds an auction for 10-year bonds. In the US, it will be a busy day as there are three key releases – Unemployment Claims, Existing Home Sales and the Philly Fed Manufacturing Index.[/B][/FONT][/COLOR]
    [COLOR=#444444][FONT=Arial]Here is a quick update ...

    by , 03-21-2013 at 03:29 AM (The Daily Forecaster)
    [B]BIAS[/B]: While 95.62-72 supports we should see extension to 96.30-45 before a correction lower

    [B]Resistance[/B]:... 96.12... 96.30-45... 96.60-76... 97.02
    [B]Support[/B]:........ 95.81... 95.62-72... 95.30-37... 95.19

    [B]MAIN ANALYSIS[/B]: Price rallied strongly and very directly. I see support around the 95.62-72 area that should provide a final move higher in this section of the rally to the 96.30-45 area. From there I feel we may well see a deeper correction that would ideally reach the 95.37-72 area again. (Keep in mind the 95.19 pivot support if it is very deep.) Once the correctioon is complete we should see another strong rally.

    [B]COUNTER ANALYSIS[/B]: Only a break above ...
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  4. EUR/USD Under Pressure as Cyprus Crisis Deepens

    by , 03-20-2013 at 06:54 AM
    [COLOR=#444444][FONT=Arial][B][URL=""]EUR/USD[/URL] remains under pressure as the Cyprus bailout crisis deepens. The Cypriot parliament met in an emergency session on Tuesday and voted overwhelmingly to reject the conditions for a EUR10 billion bailout, which includes a controversial tax on all bank deposits in Cypriot banks. Looking at economic news, German ZEW Economic Sentiment sparkled, while Eurozone ZEW Economic Sentiment slumped badly. In the US, Building Permits posted its best performance since 2008. Wednesday brought more mixed data from the Eurozone, as German PPI declined, while Eurozone Current Account easily beat the estimate. In the US, all eyes are on the ...
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