Eur/$ has indeed continued higher, breaking above the July 20th high at 1.3030 and on way toward the long held 1.3120/35 resistance area next (38% retracement from the Nov high at 1.5140). However, the market is nearing overbought after the gains from the Nov low at 1.1880, is potentially within

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Eur/$, "Ideal" Area to Top (But No Confirm Yet)

Markets are trading in a lethargic manner as participants continue to nervously take on risk-correlated trades. The move toward risk is logical because without the massive sovereign crisis fear hovering over the market like the Sword of Damocles, one needs to consider the fundamentals particularly monetary policy, as the

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RBNZ Sounds Dovish But Risk Taking Remains

The RBNZ raised the OCR by +25 bps to 3% in June. However, the market was disappointed as the central bank explicitly said that ‘the pace and extent of further OCR increases is likely to be more moderate than was projected in the June statement’. The reference is inline with

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RBNZ Raised OCR To 3%, Signaled Slowdown In Pace Of Tightening