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Daily Forecast: May 10

May 10, 2011 by SteveT   Comments (0)

EURUSD Forecast
The EURUSD attempted to push lower yesterday, bottomed at 1.4253 but closed higher at 1.4367 made a Doji on daily chart. The bias is neutral in nearest term. On hourly chart below we can see since the breakdown below the range area price still making lower highs indicated that the bearish phase should remain intact, still targeting 1.4150 – 1.4000 support area. Immediate resistance at 1.4375 followed by 1.4438. The major bullish scenario remains intact but I think we would need a clear break at least above 1.4518 to see further bullish pressure which could end or at least pause the current short term strong bearish correction outlook.

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Signs of a soft spot are becoming visible in EMEA data

May 10, 2011 by SteveT   Comments (0)

Review Signs of a soft spot are becoming visible in EMEA data. Yesterday, industrial production data for both the Czech Republic and Turkey surprised on the downside and even though the manufacturing sector continues to perform relatively well in both countries, it is nonetheless a concern: the slowdown is beginning to spread to the EMEA manufacturing sector. In April, Lithuanian CPI inflation continued to accelerate to 4.4% y/y and was higher than our estimates (4.0% y/y) and consensus (3.9%

FXstreet.com: Fundamental

Signs of a soft spot are becoming visible in EMEA data is a post from: The Forex Trading System Blog

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Euro / Yen – 10/05/2011 04:53 GMT

May 10, 2011 by SteveT   Comments (0)

EURJPY - Euro / Yen

Euro / Yen

Weekly Daily Hourly
Trends
Resistances 116.45 115.85 115.45
Supports 113.6 114.15 114.95
Our strategy
Entry Stop Target 1 Target 2
115.2 115.55 114.3 114

Forex CorrelationForex Correlation

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Daily Outlook – Greece Rating Cut, Commodities Bounce

May 10, 2011 by SteveT   Comments (0)

U.S. Dollar Trading (USD) was mixed gaining against most currencies courtesy of the Euro weakness but lost ground against commodities which all recovered.

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3 Alternative Energy Stocks Set for a Major Rebound

May 10, 2011 by SteveT   Comments (0)

3 Alternative Energy Stocks Set for a Major Rebound

For clean energy investors, 2010 finished on a dismal note. A change of political control in Congress signaled diminished support in Washington for any kind of major financial incentives in alternative energy. In Europe, fiscal challenges led countries such as Italy and Germany to scale back their previous commitments to clean energy subsidies.

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Maya Fund: A Bodybuilder’s Brainy Hedge Fund

May 10, 2011 by SteveT   Comments (0)

By programming a computer to adjust to market conditions in real time, the fund’s creator aims to deliver steady returns with low volatility

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