PepperStone

PepperStone
Published articles: 23

About PepperStone

Pepperstone is an Australian Forex brokerage that serves traders worldwide with both standard Forex trading and ECN trading capabilities. Pepperstone offers their traders excellent market analysis and competitive trading conditions for all account types.

sara.patterson@dailyforex.com

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The focus last week for markets has been on Europe but this will change in the coming week with theFederal Reserve gearing up for one of the most important FOMC meetings in along time.

The Euro fell close to 500 pips against the U.S. Dollar late last week, extending a sell-off that has taken the currency pair from 1.4500 at the end of August down to an intraday low at Friday’s close by 1.3653. European sovereign debt troubles have long plagued the currency but investors have turned a blind eye to the fiscal troubles purely due to the hawkishness of the European Central Bank.

Last week, the U.S. Dollar failed at 9,535, bringing forth the possibility (again) that the larger trend remains down towards fresh lows below the 1st August low at 9,326. At Friday's close, price was testing the trendline drawn from the said low and notably, the 20 and 50 SMA’s are still lined up on the bearish side.

The U.S. Dollar closed last week lower by 0.63% as volatility in equity markets persisted with the Dow Jones Industrial average falling more than 4% by Friday. The NASDAQ suffered the steepest decline with a loss of more than 6.6% after a flurry of disappointing economic data highlighted by the multiyear low in the Philadelphia Fed survey which plummeted to -30.7 vs the expected 4.0.

The U.S. Dollar closed last week lower by 0.63% after Philadelphia Fed survey which plummeted to -30.7 vs the expected 4.0. End of week Jackson Hole Symposium will determine Greenback's fate for 2011.

Following a week of extreme market volatility, the U.S. Dollar Index closed relatively unchanged against its major counterparts, as illustrated by most liquidly-traded currency pair (EURUSD) which remains locked in an astonishingly narrow 3.3% range since mid July. Get the roundup of all major currencies here.

We remain bearish on the US Dollar and bullish on the Euro, and we've taken a look at all the major currencies for the week ahead. Take a quick look at USD, EUR, GBP, JPY and more here.

Technical and fundamental analysis of EUR, USD, AUD and four other major currencies, all in one place.

Technical and fundamental analysis of EUR, USD, AUD and four other major currencies, all in one place.

We remain bearish on the US Dollar and bullish on the Euro, and we've taken a look at all the major currencies for the week ahead. Take a quick look at USD, EUR, GBP, JPY and more here.

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