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Updated Apr 17, 2013 4:00:00 PM
Since the Euro reached 1.3075 and 1.3120 over the past week or two, it satisfied two important things that technicians will look for during a correction – Closing a gap (from 3/15-18 weekend) & achieving the 38.2% retracement (of the 2013 decline). Price action shortly thereafter began to stagnate between the 100-day sma (1.3145/55) and the daily 144 & 169 EMA’s around 1.3030/40 for a few days. Finally, yesterday EURUSD saw a break above the [...] Continue Reading ...
Updated Mar 24, 2013 11:40:36 PM
Cyprus is set to receive a EUR10bln bailout after an agreement was reached between the struggling island nation and the troika and EU ministers. The deal is similar to a proposal put forward by the IMF and Germany last week, whereby the island’s two-largest lenders take the brunt of the pain imposed by the troika. However, it differs from last week’s proposed deal in one key area – the Bank of Cyprus will not be [...] Continue Reading ...
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