Philip Chua Business Blog

Posts Tagged ‘level’

(SINGAPORE) Gold prices continued to head south yesterday, with some analysts predicting more selling pressure in the coming weeks.
The yellow metal retreated after the US dollar rebounded against the euro, while firmer oil prices offered little help as investors turned cautious on bullion after it failed to sustain recent gains.
Gold dropped below a psychological level of US$1,100 an ounce as unc… more

The Europeans are determined to take care of their own; or to discipline their own, depending on your view. But the degree of pain and denial that Germany and France are demanding of Greece is of a level that neither government would inflict on their own citizens. The German Chancellor…

Unbelievably slow work, with relatively small daily ranges suggesting a lot of uncertainty at current prices. The Yen is consolidating in the middle of a decent-sized flat-bottomed daily Ichimoku ‘cloud’. Fibonacci retracement support at the 61% level will probably limit the downside this week (and maybe the following one too)…

The euro is just over a decade old. In its short existence it has been embraced by every level of the international currency markets. Central banks, national treasuries, sovereign funds and multi-national corporations store their wealth and trust its central bank custodians to maintain value. Institutional and retails traders have…

Slow work, but perhaps understandable as we hover not that far above key ultra-long term support between 87.00 and 85.00. We have retraced half of the year-end rally and are hovering at the bottom edge of a decent-sized flat-bottomed daily Ichimoku ‘cloud’. Fibonacci retracement support at the 61% level will…

With a clean violation of its July 08’09 low at 1.3831 and the 1.3747/33 levels, its Jun 16’09 low/.50 retracement(1.2328-1.5143 rally) established, risk of further weakness has scope towards the 1.3422 level, its .61 Fib retracement/May 18’09 low at 1.3422/09. However, our bearish view on EUR may be tempered with…

Having finally pushed through its Oct 13’09 low/range lows at 1.5706 the past week, we are now looking for further downside weakness towards its major support at the 1.5276 level, its .50 Fib Ret(1.3501-1.7041 rally). Before here lies a minor support at the 1.5351 level, its May 12’09 high. With…

U.S. Dollar fails to form a higher high and might continue its downtrend. Indicators show us a bearish market like RSI, which breaks 50% level and continues upwards, MACD, crosses the signal line pointing up and Bollinger band gives us a bullish signal by closing the candle above the upper…

The pair followed through lower on the back of its failure at the 1.4578 level, its 2010 high to break below its strong support at the 1.4216 level and resume its weakness started from the 1.5143 level the past week. Further downside weakness remains on the cards but the only…

With a third consecutive week of downside weakness seeing USDJPY breaking through the 90.59/23 levels(Dec 21’09/Jan 15’10 lows) to close lower at 89.80 the past week, further decline is likely to be seen towards the 88.30 level, its Dec 14’09. The pair may find a breather at this level and…