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Deltastock Daily Fx Analysis

March 5, 2009Current level-1.2609EUR/USD is in a broad consolidation, after bottoming at 1.2331 (Oct.28,2008). Technical indicators are neutral, and trading is situated below the 50- and 200-Day SMA, currently projected at 1.3292 and 1.4721. Current rebound from 1.2457 is obviously too large to be accepted as a minor corrective phase, so we favor the view, that it will correct the whole slide from 1.2996. The intraday bias is neutral, so expect some range activity between 1.2651 and 1.2547, before

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Forex: EUR/USD: Euro bounces at 1.3585 support; remains in range

FXstreet.com (Barcelona) - The Euro remains trading in a range from 1.3585 support to 1.3660; after having tested the lower boundary of the range ahead of the European session opening, the Euro has bounced to reach levels around 1.3630 at the time of writing.According to Tim Salem, collaborator at FXstreet.com, the Euro could drop slightly below intra-day support: The Range is currently 1.3580 to 1.3661 Daily Static Resistance, as the ?V? Hourly Price Formation called for Accumulation in the Immediate-Term.

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Forex: GBP/USD: Sterling reaches 1.6600; could drop to to 1.6185 - Daily FX

FXstreet.com (Barcelona) - The Pound rally from 1.6205 low on Tuesday has extended to an intra-week high at 1.6595, reaching the top of the trading range, from 1.6185 to 1.6620 the Pound has been trading for around two weeks.After a rally of almost 400 pips in two days, the Pound could, according to the Daily FX Research Team, set a top around 1.6600 and drop back to 1.6185: The double top scenario that we had anticipated in the previous week

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Euro Offers Protection Against FX Speculation, Says ECB's Nowotny

Even in Great Britain, the idea is no longer that far off, Nowotny said in an interview with Austrian newspaper Oberösterreichische Nachrichten, published on Wednesday.The central banker's comments mirror those of EU Monetary Affairs Commissioner Joaquin Almunia, who said he sees no chance of any country leaving the euro zone and that, conversely, the chances are high that some Nordic countries and the UK could join.Written by CEP News European Staff, eunews@economicnews.ca, edited by Stephen Huebl, shuebl@economicnews.caCEP Newswires - CEP

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EU Preview: ECB Press Conference Likely to Hint at Cut in March

While ING Wholesale Banking senior economist Carsten Brzeski expects the ECB to decide to keep its refi rate unchanged, he is looking for clear hints that the central bank will resume its rate cutting cycle in March.However, such hints would likely not come during the introductory statement, but rather during the question and answer segment of the conference, when Trichet will try to give a clear indication of what the ECB will do in the upcoming month.Brzeski is also hoping

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ECB's Trichet Says Rates at Zero Would be "Inappropriate" (Update)

You have a number of anomalies that might appear when you are zero, Trichet said in an interview with Dutch television broadcaster RTLZ on Friday. It is full of drawbacks.However, Trichet added that there were other instruments that could be utilized, even if rates did come down to such levels.At its meeting on Thursday, the Governing Council voted unanimously to keep its main refinancing rate unchanged at 2.00%. However, acknowledging that inflationary pressures are easing and that growth would remain

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UK Preview: Further Clues on Policy to be Revealed in BOE Inflation Report

According to Barclays fixed income strategist Moyeen Islam, the Bank of England's

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Aussie Dollar Could Drop on Weaker-than-Expected Employment Report

The Antipodean currency has experienced a choppy ride during the past week. A wave of risk aversion on Tuesday caused the Aussie dollar to drop two cents and give up most of its gains during the week.Today the Aussie dollar has remained relatively range bound, hitting a session high of 0.6601 USD and a session low of 0.6483 USD. The Aussie dollar is up 0.23 cents to 0.6571.Strategists are waiting for January's employment number, which they said could add to

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EU Preview: ECB Expected to Leave Rates Unchanged at Thursday's Meeting (Repeat)

ECB President Jean-Claude Trichet has repeatedly said the Governing Council meeting in February is not considered

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