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Market Review - 12/01/2011 21:41 GMT

Euro surges versus dollar as Portugal auction demand rises

The euro strengthened against the dollar on Wednesday after Portugal sold bonds due in 2020 at a yield of 6.716%, lower than 6.806% at the previous auction Nov. 10. The auction was met with increased demand as investors asked for 3.2 times the amount of 10- year bonds sold, up from 2.1 times at the November sale.

The single currency edged higher in Asia and reached 1.3047 in European morning. Although euro staged a pullback to 1.2961 on profit-taking, the single currency subsequently surged from said intra-day low and eventually climbed to 1.3145 in NY session.

Traders would wait ...

dailyfx.bmp

Welcome to the FXReturn.com London Forex Market Call for January 13th.,2011. GBP/USD: Closes near the highs of a 197 point intraday session and above resistance at 1.5663. Consecutive closes above 1.5663 will maintain the bullish posture of the market with 1.5909 as the next upside objective. The Timing Oscillator and the momentum indicators are still rising defining the bullish temperment of the market. Near term support resides at 1.5663 | GOLD: Closes near the highs of the session as the market rallies off the 50 day average. Consecutive closes above $1383.4 will spark further movement into the $1400.00 region. A close below $1372.00 will re-establish the markets bearish posture with $1352.4 as the next ...

Market participants are really doubtful about the future of US. Dollar, this can be found from this week’s very low volume of trading. On Thursday we have got important news for the Greenback which can completely change this price action and market conditions.
These words was an excuse for me to write about a great experience and an important tool; “Filtering Your Trades”.
I have written many articles about false breakouts and have noted that you should beware of low volume breakouts. When market goes sideways then any breakouts and trendline breaks should be considered as suspect.
Lack of major news for this week caused a narrow price action and in these cases I won’t take any swing positions. Market is moving up and ...

Forex Trades 01/12 - US session
[b][img]http://www.mataf.net/images/_V3img/fleches/down_arrow_16.png[/img] [url="http://www.mataf.net/en/forex/eurusd"]EUR/USD - Euro / US Dollar[/url][/b]
[b]Entry[/b]: 1.2985
[b]Stop[/b]: 1.305
[b]Resistances[/b]: 1.313 - 1.3085 - 1.3035
[b]Supports[/b]: 1.2875 - 1.29 - 1.296

[b][img]http://www.mataf.net/images/_V3img/fleches/up_arrow_16.png[/img] [url="http://www.mataf.net/en/forex/usdchf"]USD/CHF - US Dollar / Swiss Franc[/url][/b]
[b]Entry[/b]: 0.973
[b]Stop[/b]: 0.968
[b]Resistances[/b]: 0.99 - 0.9785 - 0.9755
[b]Supports[/b]: 0.962 - 0.966 - 0.97

[b][img]http://www.mataf.net/images/_V3img/fleches/down_arrow_16.png[/img] ...