Overnight markets and U.S. futures advanced after CIT Group managed to avoid bankruptcy, aided by an emergency loan. European markets are trading up by approximately 1.5% after CIT, a large U.S. financial group managed to secure $3bn in an emergency loan to avoid bankruptcy. If CIT would have been forced...
Over the weekend we got more hints that the housing sector in the UK is finding its bottom especially as the nation's biggest residential property and most used real-estate web site posted that prices in London rose on an annual basis for the first time this year.
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USD-CHF @ 1.0728/32...Support in the region of 1.0868-29 broken. Swiss has broken out of the entanglement of the moving averages on the hourly as the Resistance at 8-MA on the 4-hourly proved stronger than the Support in the region of 1.0829-68 mentioned in the morning. It could possibly continue to...
EUR/USD The daily chart's RSI signals that this pair is being over-bought and will likely see a downward correction in the near future. The Bollinger Bands on the 4-hour chart are also tightening indicating that a volatile movement is imminent. Going short appears to be the right strategy today.