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Gold Pressured and Looking to Retest Range Support
Our last gold update noted 1600 as a key pivot to monitor for the recovery form the 1530 range support. The market indeed held the rally from going above. As the 5/22 US session progresses, it is trading down below 1550. It seems poised to retest the range support.
Read more...EUR/USD – Bullish Divergence At Key Support Pivot Suggests Consolidation
The EUR/USD fell from slightly above 1.28 starting in the 5/22 Asian session after it developed a bearish divergence with the RSI in the 1H chart. It has since fell sharply but is now testing (and cracking) the 1.2625 support pivot see in the daily chart below. In doing so, it has developed a bullish divergence with the RSI in the 1H chart.
Read more...USD Index (USDX) Pushes Above 2012 High; 83.60 In Sight
Risk aversion continues a firm grip on the markets and the USD continues to gain from safe haven flow. After consolidating briefing below 82.00, the USDX pushes above this resistance and 2012 high and is at the highest level sine September 2010. This coincides with the EUR/USD falling below the 2012 low and cracking the 1.26 handle.
Read more...FXDD Announces Worldwide Launch of JForex Platform
NEW YORK, May 3, 2012 /PRNewswire/ -- FXDD, a leader in online Forex trading and education, today announced the global availability of its JForex platform to clients worldwide. This platform, powered ...
Read more...Online Trading Platform iFOREX Expands its Development Team to Offer More Services
iFOREX, a financial service provider authorized and regulated by Cyprus Securities and Exchange Commission under license 143/11, has recently expanded their development department in order to create new products and services into their catalogue of trading tools.
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