Thursday, 8 March 2012

Action Forex

Action Forex

Markets buzz in anticipation of the Greek swap deal

Posted: 08 Mar 2012 05:53 AM PST

European stock markets and the euro are extending gains on Thursday, on the hopes that the Greek debt writedown deal, which is supposed to be finalized by 20:00 GMT, will have a positive outcome. Greek authorities informed that the release of debt swap results is scheduled for 6:00 GMT on Friday, but Greek Finance Minister Evangelos Venizelos might also make an official statement sometime earlier. Although at

USDJPY remains in uptrend from 76.02

Posted: 07 Mar 2012 07:43 PM PST

USDJPY remains in uptrend from 76.02, the price action in the trading range between 80.01 and 81.86 is treated as consolidation of the uptrend. Lengthier sideways movement in the range would likely be seen over the next several days. As long as 80.01 support holds, we'd expect uptrend to resume, and another rise towards 85.00 is still possible after consolidation, and a break above 81.86 could signal resumption
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