Monday, 20th October 2014

Russia bans import of beef products from EU

The Federal Service for Veterinary and Phytosanitary Surveillance (Rosselyhoznadzor) prohibits from 21st October 2014 the imports of beef products from the European Union (EU), and meat trimmings and bone meal, Tass news agency reported, citing the agency head Sergei Dankvert. “The decision has been taken and is being formalized. Will introduce a limit of 21 […]


WTI Crude Oil Struggles at $84

The WTI Crude Oil markets have been ruthlessly sold off over the last couple of months. That in itself isn’t anything new or newsworthy, but the fact that the bounce could produce anything close to an extended gain shows just how much trouble there is in the oil market.

EUR/USD Fails at 1.28

The EUR/USD pair has recently tried to gain strength after falling all the way down to the 1.25 handle. However, the market could not keep any of the gains above the one point to a level, and for me that is very important as I have identified the 1.28 level as the beginning of a significant amount of resistance that extends all the way up to the 1.30 handle.

USD/JPY Showing Strength Again

The USD/JPY pair broke higher during the course of the session on Friday, clearing the top of the hammer that informed on Thursday. What is most important as far as I can see on this chart is the fact that the Wednesday candle slammed into the 105 level, but failed to break below it.

AUD/USD Fails at the 0.88 Level

The AUD/USD pair failed at the 0.88 level on Friday again, and this only in my opinion strengthens the idea of the Australian dollar continuing to lose strength.

USD/CAD Find Support at the 1.12 Level

The USD/CAD pair tends to be rather choppy in general, and the most recent action certainly will do nothing to dissuade traders from thinking so.