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EURo Going Back Up!

The EUR/USD took a bit of tumble on renewed Greek fears. Since the middle of May the single currency retraced most of the losses from the rally. We can draw a Fibonacci retracement connecting the year's low at 1.0461 and the most recent swing high at 1.1466. On the chart below, a bounce at the 61 percent retracement (1.0844).
I think we have reached the bottom for the common currency, at least in the medium term. Don't forget that the Euro has suffered a massive sell-off of over 3000 pips since …
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USD/DKK to Continue the Momentum Move Lower

After a major USD led rally, the pair reversed in April to closed the month lower by about 4 percent. But since the middle of May this move lower has been cut short with prices again rallying.
Taking into account the massive Dollar rally during the past year, we are overdue for a retracement, especially with the recent patch of weak data in the States. But I think a combo of weak fundamentals and ECB QE will keep the Euro weak as well, this in turn will likely prompt the Danish Central Bank to w…
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No Major Changes for EUR/HKD

I foresee no major changes for the EUR/HKD pair. The currency pair had a wild rise in May, first rallying from 8.6877 to 8.8862, only to surrender all gains in the second half of the month.
We are currently quoted around the 0.5150 mark, not far from Friday's high. I think this level is an important resistance for EUR/HKD. Look at the daily chart below. We can see the 8.52 mark being tested again and again. It's the level price keeps coming back to. I'm betting on this level putting an end to th…
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EUR/GBP to Stabilize in June

The EUR/GBP had a wild ride in May. With a total monthly range of 428 pips, the pair experiences large volatility, mainly on the back of the UK election.
With that event now out of the way, I expect prices to stabilize going forward. The technical picture too points me in this direction. The 0.7190 level is a 61 percent Fibonacci retracement of the last EUR/GBP move higher (marked on the chart below). This is also not far from Friday's close at 0.7183. I expect this level to put pressure on any …
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Losses for Singapore Dollar to End

The dollar gained about 1.5 percent on the Singapore Dollar in May. But we are coming up to an important resistance level for the pair.
The chart below shows that we are close to the 1.35 mark. Aside from being a major round figure, this level was also a former support which should now turn into resistance. Prices bottomed out at 1.3486 and at 1.3455 in February and April this year. Once this support gave way, we saw strong losses in the USD/SGD. But with prices now back to this level, I expect …
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Volatility in USD/CAD to Die Down

The USD/CAD experienced unprecedented volatility this year, largely due to the oil price shock. Prices first fell over 50 percent to below $50/barrel, then rallied 50% from here to just above $64 dollars. Canada is a large oil exporter. You can see these swings on the weekly chart below.
But with Oil starting to enter a range between $50 and $60 dollar per barrel, the USD/CAD should stabilize as well. Canada may also benefit from the stronger US economy.
On the technical front, we seem to be top…
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