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Market Review - 02/08/2011 21:57 GMT

Swiss franc surges to fresh highs on concerns over global economic growth and debt level

The Swiss franc rallied against the dollar and euro to fresh all-time highs Tuesday on risk aversion as investors were still worried about the global economic growth and debt levels in U.S. and Europe. The U.S. bill to increase the debt ceiling and reduce the deficit passed the Senate and was signed into law, narrowly avoiding the Aug. 2 deadline.

Versus the Swiss franc, despite dollar's brief recovery to 0.7857, renewed selling sent the pair lower and price tumbled below Monday's low of 0.7733 to a fresh lifetime low of 0.7620 ahead of NY closing due to the selloff in ...

INTRA-DAY EUR/USD OUTLOOK

Last Update At 02 Aug 2011 05:42 GMT

Rate : 1.4243

Euro's anticipated retreat fm 1.4283 suggests
the recovery fm y'day's low of 1.4185 has possibly
ended there n consolidation with mild downside bias
wud be seen but below 1.4229 needed to confirm fall
fm 1.4453 has resumed n yield re-test of said sup.

Abv 1.4283 wud bring stronger correction to 1.43
15/19. Stand aside in the meantime.

Range Forecast
1.4229 / 1.4260

Resistance/Support
R: 1.4283/1.4319/1.4347
S: 1.4229/1.4185/1.4139

http://www.acetraderfx.com

INTRA-DAY EUR/USD OUTLOOK

Last Update At 29 Jul 2011 07:35GMT

Rate : 1.4282

Current strg rebound after Greek FINMIN source said
China may be interested in helping fund Greek bond
buybacks suggests an intra-day low has possibly been
made at 1.4257 n consolidation with upside bias is seen
for a rebound to 1.4320 b4 retreat.

Buy on dips for gain to 1.4320 n if euro rises to 1.4320
1st, sell for weakness to 1.4280.

Range Forecast
1.4253 / 1.4285

Resistance/Support
R: 1.4304/1.4338/1.4364
S: 1.4253/1.4217/1.4188

http://www.acetraderfx.com

Market Review - 28/07/2011 22:00 GMT

Euro weakens on lingering debt crisis concerns

The single currency fell on Thursday as weak economic data from the euro zone and a jump in Italian bond yields at auction heightened worries that the euro zone sovereign debt crisis would spread to other countries.

The single currency briefly breached Wednesday's low at 1.4340 to 1.4330 in Asia after China's SAFE said China did not pursue large holdings of FX reserves, implying it may not diversify its holdings of usd into euro. Later, despite a brief recovery to 1.4401 in European morning, renewed selling there sent the pair sharply lower after Italy sold 8 billion euros of 3-year and 10-year bonds with yields ...