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- Friday, 16 October 2009 23:05:12 GMT Risk Appetite Stalls But the Dollar and Dow Maintain Trend Through Week's End
- Friday, 16 October 2009 21:47:18 GMT Market Volatility Consolidates following Disappointing Earnings (Forex Video)
- Friday, 16 October 2009 10:35:56 GMT British Pound Retraces, Euro Grapples with 1.50 Against US Dollar
- Friday, 16 October 2009 16:02:03 GMT Will A Pullback In Equities Sink The Euro?
- Friday, 16 October 2009 05:27:00 GMT Euro Down Ahead of Trade Data, Markets to Gauge Currency Impact on Exports (Euro Open)
- Friday, 16 October 2009 08:38:27 GMT Tech Talk 10.16.2009
- Thursday, 15 October 2009 22:59:48 GMT The Dollar and Dow See Little Follow Through, Yet Currencies Produce Extreme Volatility (Forex Video)
- Thursday, 15 October 2009 15:41:32 GMT GBP/USD Advance Slows at Staunch Resistance Creating Scalping Opportunity
- Thursday, 15 October 2009 14:30:15 GMT British Pound Forecast to Rally further on Forex Sentiment
- Thursday, 15 October 2009 06:51:38 GMT New Zealand Dollar Gains as Inflation Outperforms But Rate Hikes Look Suspect (Euro Open)
- Wednesday, 14 October 2009 22:24:51 GMT Dollar Follows the Dow's Push Above 10,000 Instead of Strong Retail Sales (Forex Video)
- Wednesday, 14 October 2009 18:24:03 GMT US Dollar Initially Drops on Indications the Fed Could Expand MBS Purchases
- Wednesday, 14 October 2009 05:36:26 GMT US Dollar Drops to New Low as Chinese Export Figures Boost Risk Appetite (Euro Open)
- Tuesday, 13 October 2009 21:55:42 GMT Dollar, Markets Maintain Their Sentiment-Based Momentum Despite Data (Forex Video)
- Tuesday, 13 October 2009 16:50:57 GMT Defined Trading Levels Makes USD/JPY Attractive For Scalpers
- Tuesday, 13 October 2009 04:22:35 GMT US Dollar Holds Up Despite Asian Stock Gains, UK CPI and German ZEW on Tap (Euro Open)
- Tuesday, 13 October 2009 05:28:14 GMT Risk Aversion and Geopolitical Tensions Creep In (Opening Comment)
- Tuesday, 13 October 2009 02:27:39 GMT Declining U.K. Consumer Prices Would Validate Bearish Pound Technical Outlook
- Monday, 12 October 2009 21:51:52 GMT Traders Leaning on the Dollar as its Dominance Continues to Falter (Forex Video)
- Monday, 12 October 2009 14:50:59 GMT Forex Strategy Outlook: US Dollar Range Likely to Hold on Low Volatility
The German Zew Survey is expected to show that investor confidence remains near its all time low of -63.9 at -63.0 as the outlook for the next six months remains bleak. Also, traders are expected to have less confidence in the present state of affairs as its current situation reading is anticipated to fall to -45.0 from -35.9.
Fundamental Outlook
The German Zew Survey is expected to show that investor confidence remains near its all time low of -63.9 at -63.0 as the outlook for the next six months remains bleak. Also, traders are expected to have less confidence in the present state of affairs as its current situation reading is anticipated to fall to -45.0 from -35.9 despite the recent easing from the central bank and other measures taken to improve liquidity into the markets. President Trichet hinted at further easing from the central bank at the December policy meeting, as the Euro-zone is entering in a recession which has eliminated the inflationary risks that has handcuffed the MPC. Therefore, a drop in sentiment will only bolster the case for future easing and weigh on the Euro. Technical analysis is calling for resistance ahead for the Euro which should send it lower and making the case for a short EUR/USD trade. However, improving sentiment would support the alternative outlook for continued bullish sentiment.
Technical Outlook
On Friday, I wrote that “the upper end of the triangle line is in the 1.29-12950 zone today and Monday and is resistance in the event of an advance.” The EURUSD has entered this zone, although triangle resistance extends up to 1.30. If the triangle interpretation is correct, then price will top before 1.3116. The alternate, bullish scenario is valid as long as price is above 1.2652.
For More Technical Analysis Visit the Daily Technical Report
To discuss this report contact John Rivera, Currency Analyst: jrivera@fxcm.com
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