Sep 23, 2011

Forex Crunch EUR/USD Resumes Falls as a Greek Default Nears

Forex Crunch EUR/USD Resumes Falls as a Greek Default Nears

EUR/USD Resumes Falls as a Greek Default Nears

Posted: 23 Sep 2011 03:43 AM PDT

EUR/USD fell back to the lower range as Greece nears a default. The new austerity measures suggested by the Greek government currently don’t have support within the ruling party, as voices discussing an orderly default mount.

Greece’s ruling PASOK party has around 5 or 6 members who oppose the new harsh measures. The prime minister, finance minister and other high ranking officials are acting to convince these members to change their mind, but there’s no majority at the moment.

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EUR/USD Sep. 23 – Refocusing on Greece and Attempting Recovery

Posted: 23 Sep 2011 01:28 AM PDT

Euro dollar is settling in a lower range after hitting a 7 month low in the post Bernanke crash. An option of a big Greek haircut is floating around as the troika and the debt struck country are still negotiating . How will this wild week end?

Here's a quick update on technicals, fundamentals and what's going on in the markets.

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USD/CHF Open For Further Gains, Gold Set to Test Key Support

Posted: 23 Sep 2011 12:20 AM PDT

USDCHF: Strengthens Through The 0.9013 Level, Risk Opens For Further Gains.

USDCHF: The pair broke and held above the 0.9013 level, its April 19'2011 high on Thursday, opening the door for further bullish offensive.

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Forex Daily Outlook – September 23 2011

Posted: 22 Sep 2011 02:00 PM PDT

BBA Mortgage Approvals in the UK is the major market-movers. Let see what awaits us today.

Group of Twenty (G20) Meetings -Day 2, an influential worldwide policy-making group that is working at the highest level and impact the currency markets.

Read the rest of the article Forex Daily Outlook – September 23 2011

Gold Glitter Gone – 5 Reasons for Gold Bugs to Hide

Posted: 22 Sep 2011 08:10 AM PDT

The price of gold has also been twisted by Bernanke and doesn’t seem to show signs of recovery. It’s not only the absence of QE3 that is driving the price down. Here are 5 reasons why gold is going down long term.

In addition to fundamentals, also the technicals point lower. Gold price has lost uptrend support but still has room for falls until it reaches critical support at the gap line.

Read the rest of the article Gold Glitter Gone – 5 Reasons for Gold Bugs to Hide

El Arian: Signs of Institutional Run on French banks

Posted: 22 Sep 2011 03:37 AM PDT

The chief executive and co-chief investment officer of Pimco, Mohamed El-Erian, made very scary comments and added to the pressure on the euro.

He says that the problem is far from being a sovereign debt issue, but is now becoming a serious bank problem that may require €300 to €500 billion in bank recapitalization, and that French banks could tip Europe bank into a fill blown crisis.

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