Forex

USD/CHF The bearish bias we saw in the previous update did not materialize into a breakout to the downside. Instead the market edged lower but bounced off the  0.9088  level. A The 1H chart shows that this came after a bullish divergence with the RSI reading and the rally pushed this indicator of momentum above 70. This shows that the market is still ranging, as it re-establishes very short-term bullish momentum. A throwback that fails to break below  0.9130  would offer a good sign that...Read Full Story

By FXEmpire.com – Analysis and Recommendations: The EUR/USD continues falling against the greenback. Earlier in the day the EU refused to consider the Greek bailout agreement as the terms agreed to amongst the Greek political parties did not satisfy the terms of the bailout. They had made progress, but fell short of the terms set forth. The EU told Greece Finance Minister that they need to meet 100% of the original plan and meet all financial criteria. Merkel also signaled last evening, that...Read Full Story

By FXEmpire.com – Analysis and Recommendations: The GBP/USD is currently down 1.5756. The greenback has been picking up strength all day against its trading partners. The euro continues to fall on Greek worries, as the EU sent the Finance Minister back to Greece with an incomplete agreement. The EU is demanding 100% compliance and institution of the package before they will consider the bailout. On the other hand the Greek Ministers only arrived with promises, which as all political promises...Read Full Story

By FXEmpire.com – Analysis and Recommendations: The EUR/USD is up trading at 1.3289 increasing by 0.21%. The euro reached as high as 1.3320 after news of an agreement between Greek political factions. The USD as its counterpart fell. Good news for US jobs market as unemployment claims fell again this week. The news barely registered with the markets as it was almost immediately followed by the release of the agreement in Greece. The euro dipped against the dollar for a bit and then soared...Read Full Story

By FXEmpire.com – Analysis and Recommendations: The GBP/USD is currently at 1.5826 and ending pretty close to the opening this morning. The pair will most likely continue in a tight range until new data is released in the USA today, we should see some calm in the markets as the Greek crisis is now just about done for. A deal has finally been reached among the political factions to accept the austerity measures and now the formalities just need to be concluded. During its Thursday meeting, the...Read Full Story