Forex Bull

EURUSD breaks below 1.3089 support and the fall from 1.3738 extends further to as low as 1.3017 level. Deeper decline is expected to 1.2750 or even lower.

The Japanese Yen is likely to fall in with trends in risky assets in the week ahead as the economic calendar offers little that has already been factored into the exchange rate.

The global economic calendar fills out next week; but no other G10 currency can compete with the fundamental authority of the data that populates the British pound?s docket. Over the past month, we have seen the sterling built considerable strength against currencies that are considered far better positioned than itself.

After shaking off the reins of congestion this past Friday, euro traders will jump on the opportunity to develop this momentum into a trend. Whether the currency sustains its new bearing lower or attempts a bullish reversal will be decided by fundamentals.

Posted By: Patti Domm The wave of corporate earnings reports in the coming week could wash over the stock market without eroding its recent gains.     Read More Topics: Treasuries | Earnings | Currencies | Stock Market | Investment Strategy Sectors: Oil and Gas Permalink

US Dollar Forecast Turns Bullish Despite S&P 500 Winning Streak Euro Opens An Important Week At A Fresh Monthly Low British Pound The Unfortunate Herald Of 1Q GDP For The World Japanese Yen May Rise as Risky Assets Test Resistance Swiss Franc May Falter as Investors Expect SNB to Intervene Once Again Canadian Dollar Prevails Ahead of Upcoming BoC Rate Decision Australian Dollar Outlook Mixed Despite ASX Uptrend New Zealand Dollar Threatened By Declining Domestic Picture

The Australian dollar finished marginally higher to end the week?s trade, but the currency?s late reversal suggests that fundamental risks remain to the downside through the near-term.

The Canadian dollar dominated when it came to the majors last week, as USD/CAD broke out of a large triangle formation toward 1.20. The currency is likely to remain volatile throughout the coming week as some major economic releases will hit the wires.

- Japanese Yen Gains as US Consumer Sentiment Improves – Euro Breaks Below 1.3100 as ECB?s Trichet Signals Rate Cuts – British Pound Under 1.4850 Ahead of UK GDP Results – Australian Dollar Dominates, New Zealand and Canadian Dollars Under Pressure as CPI Reflects Easing Price Pressures

- Equity trading is struggling to latch on to a theme this morning as equity indices bounce in and out of negative territory. Investors are mulling over the Q1 results from Citigroup, General Electric and Google. Similar to other large-cap reports over th…