A Bear Flag is a bearish continuation pattern that generally occurs after a decline in price. After a period of price consolidation in the flag, prices generally continue in the direction of the prior trend.
A Bearish Descending Triangle is a bearish continuation pattern that typically appears after a decline in price. Price consolidates briefly in the triangle and usually continues in the same direction as the previous trend.
An inverse Head and Shoulders pattern is a bullish reversal pattern and for the pattern to be reliable, it should occur in a downtrend. A downtrend is reversed at the left shoulder and buyers drive prices back up to the neckline. Sellers then push prices down to the head and buyers drive prices back to the neckline again. Any sellers who are remaining are only able to push prices back to the right shoulder before buyers step in and drive prices through the neckline.
A double bottom is a bullish reversal pattern that usually occurs after an extended downward movement in price. In good double bottom patterns, the second trough is typically lower than the first trough.
A Bullish Pennant Pattern is a bullish continuation pattern that usually follows a large run up in price. After a brief price consolidation in the pennant, prices generally continue in the same direction as the prior trend.
A Bull Flag pattern is a bullish continuation pattern that generally occurs after a large run up in price. After a period of price consolidation in the flag, prices generally continue in the direction of the prior trend.
An Ascending Triangle Pattern is a bullish continuation pattern and usually occurs after a large run up in price. The time spent in the triangle is a period of price consolidation and the trend usually continues in the same direction as the previous trend.
A Head and Shoulders pattern is a bearish reversal pattern and for the pattern to be reliable, it should occur in an uptrend. An uptrend is reversed at the left shoulder and sellers drive prices back up to the neckline. Buyers then push prices up to the head and sellers drive prices back to the neckline again. Any buyers who are remaining are only able to push prices back to the right shoulder before sellers step in and drive prices through the neckline.
A double top is a bearish reversal pattern that typically occurs after an extended upward movement in price. Prices reverse once, moving downwards to the confirmation level followed by an upward movement in price. Prices reverse again at the second peak, and completion of the pattern occurs when prices break through the confirmation line.
The Australian Dollar opens steady against the greenback at 0.9280. The Aussie spent most of the domestic trading the ranges between a low of 0.9275 and a high just above US93 cents.
The employment rate for July to September 2009 was 72.5 per cent, a fall of 0.1 percentage point on the quarter. There was a small increase of 6,000 in the number of people in employment to 28.93 million, the first quarterly increase since May-July 2008.
The dollar fell to a new 15-month low against major currencies on Wednesday, hurt by downbeat official views on the U.S. economy and bullish economic data from China that bolstered risk appetite.
Immediate economic prospects for Ukraine will be extremely difficult without a fourth $3.8 billion tranche of funds from the International Monetary Fund, Ukraine's prime minister said on Wednesday.
When Slovakia adopted the euro in January, Alexander Joszay loved driving across the border to Hungary, where financial crisis had weakened the forint to deliver lower prices for euro-earners.
The yen tested higher ground on Wednesday, buoyed by stop-loss buying and eking out gains against the high-yielding Australian dollar after a mixed batch of Chinese economic data.
U.S. Treasury Secretary Timothy Geithner said on Wednesday he believes strongly in the need to maintain a strong dollar and said the United States was determined to get its budget deficit down.
The dollar hit a 15-month low against a currency basket on Wednesday as the U.S. currency came under broad selling pressure versus its higher-risk counterparts on the view that the global economy may be improving.
News, details on corporate bond issues in the European markets on Wednesday:
The dollar hit a 15-month low against a currency basket on Wednesday after Federal Reserve officials said any recovery in the U.S. economy would be erratic, bolstering the view that interest rates would stay low.
The Australian Dollar opens steady against the greenback today at 0.9280. During local trade, the Aussie nudged a calendar-year high above US93 cents ahead of importer interest and profit taking which took the unit back down to 0.9270. Several major currencies have moved higher in recent days after the International Monetary Fund (IMF) said the U.S. Dollar was overvalued. An upbeat NAB business confidence survey also underpinned the local unit yesterday. During offshore trade, the Aussie moved b...
The Australian Dollar opens steady against the greenback today at 0.9280. During local trade, the Aussie nudged a calendar-year high above US93 cents ahead of importer interest and profit taking which took the unit back down to 0.9270.
China hopes that the United States will keep its deficit to an appropriate size to ensure basic stability in the U.S. dollar exchange rate, Chinese Premier Wen Jiabao said on Sunday.
EU finance ministers agreed on Tuesday to start major efforts to narrow budget gaps in 2011 at the latest and reached preliminary agreement to boost the amount of capital banks must hold to offset risky activities.
The United States' economy is not robust enough yet and unemployment is too high for policymakers to begin to withdraw stimulus, Boston Fed President Eric Rosengren said on Tuesday.
The dollar bounced off a 15-month low on Tuesday and the euro dipped below $1.50 as investors paused to assess whether the global outlook justifies a recent rally in higher-yielding currencies and assets.
The ZEW Indicator of Economic Sentiment for Germany decreased slightly by 4.9 points in November 2009 and now stands at 51.1 points after 56.0 points in the previous month. This value is still well above the indicator's historical average of 26.9 points.
Following are comments from European Union finance ministers as they gathered in Brussels on Tuesday for a meeting.
China on Tuesday restated its long-standing policy to maintain the basic stability of the yuan at a reasonable and balanced level, after U.S. President Barack Obama said he would discuss the currency when he visits Beijing.
Fitch Ratings warned Japan on Tuesday to keep to its borrowing target or risk a credit rating downgrade as the finance minister acknowledged the problem and tried to reassure rattled investors by saying spending had to be cut.
The EUR now looks poised to continue its breach of resistance and head north to 1.5265. One of the factors that we consider when looking for technical entry and exit points is the speed at which price is moving.
