Daily Fundamental Report

After the markets were filled with pessimism lately now we see that story has changed as currently we see investors buying higher yielding assets while selling lower yielding assets in which is a process we call carry trades.
The United Kingdom released its jobless claims change for the month of June showing that it rose at the slowest pace since 13 months.
We have seen today different fundamentals from the Euro Area and United Kingdom. According to the Royal fundamentals, the ILO Unemployment Rates surged in May to 7.6% from the previous 7.2% besides, the Claimant Count Rate held steady at 4.8% from the previous 4.8% revised down to 4.7% levels.
Even after those fundamentals, the British Pound managed to continue its uptrend against the US dollar and the Japanese Yen for the third consecutive day, to currently trade at 1.6440.The euro inclined heavily today against the US dollar to currently trade at 1.4059 levels, after recording a high of 1.4070 and a low of 1.396, also the euro managed to incline against the Japanese Yen for the third consecutive day.
Bank of Japan today left interest rates steady at 0.10 percent which was inline with market expectations and unchanged from the previous meeting.
In the United State of America there was many economic data today , US released on one hand its CPI for June showing an incline as it came in 0.7%better than the expected reading of 0.6% and the prior reading of 0.1%.On the other hand, the US Core CPI for June rose to 0.2%; better than expected at 1.7% from 1.8%

USD/JPY Technical Outlook15/7/2009

USD/JPY movement is restricted in a narrow range between support level at 93.31 and resistance level at 93.98. While it's currently around 93.90 The highest level was at 93.96 and the lowest level was at 93.26 today. In the other hand, momentum oscillator shows long buy saturation. However, it's expected to have a retracment move today to level 38.2% (Fibonacci line) at 93.01.

EUR/USD Technical Outlook 15/7/2009

EUR/USD tend to have upside trend throughout trading stability near major resistance1.3994, we still expect to achieve intraday upside to the support level at1.4125, And if the pair can breach the resistance level it will may arrive 1.4252, all of that depend on the stability of the appointed major resistance level at1.4125.

GBP/USD Technical Outlook 15/7/2009

GBP/USD is still upside trend breaching the resistance level 1.6238 and 1.6289 , the secondary outlook is showing the breaching , resting and then go upside to prove the upside breach , which will shift the pressure to the next resistance that is the pivot resistance at 1.6373

The market is expecting interest rate decision from the Central Bank of England 9/7/2009

The real estate sector in UK is still weak as a result to the released economic data last week which drove the BOE to extending the duration of liquidity policy for the financial market to support borrowing level, we are waiting for the monetary policy committee MPC meeting and the decision making about interest rate, in addition the announcement of quantitative easing data, as a result we will see some intraday movement for this pair GBP/USD.

GBP/USD Technical Report 7/7/2009

The GBP/USD closed up higher than we expected yesterday at the resistance level of 1.6220 which met the 23.6% Fibonacci level.
The outlook today that the pairs will continue rising for a while to put pressure on the resistance level at 1.6235 and then the expectation is that the pair will complete the landing to achieve the goals that are expected to reach at 1.5980 then 1.5842.

Daily Fundamental Report26/6/2009

The Dollar declines once again against the Euro and other major currencies despite the data from the US showing that the economy contracted less than once expected during the first quarter of the year.
As for the Pounds, for the third consecutive day yesterday, trading was able to end the day at the 38.2% correction at 1.64223 where the pair is failing to determine a specific trend on the short term. However we see a bearish candlestick reversal on the four hour charts supported by the bearish signs on the stochastic indicator which may result in a downside correction to 1.63550 and 1.6320 respectively.
The Euro inclined yesterday to the 1.4000 mark to record a high at 1.4050 before reversing back to the downside. Momentum indicators show neutral signs on the daily charts yet on the four hour charts we see the pair near an overbought area.
the pair still needs to complete the targets for the double bottom formation at 1.40750 before opening the way to retest 1.41621.
Despite reaching levels at 96.60 yesterday, the USD/JPY pair declined heavily to close below the 38.2% correction at 96.10