Fed Support Markets to Favor the Federal Star!

Daily Forex Fundamentals | Written by Crown Forex | Jul 30 08 15:00 GMT |

The Fed announced extra measures to alleviate stressed markets and extended two of their lending facilities into January 30 while expanding their loans and enhancing their swap lines and the ECB and SNB extended the period inline with the Feds as well. The ADP came strong and Wall Street is surly on the run and that is all adding to the dollar's favor as is allocates further gains against majors. The euro after it attempted to consolidate 1.5580s in attempts to trade solidly above then all efforts went a waste as the euro reversed to the downside to set the low at 1.5521 where if the euro was to breach 1.5510s will head through till 1.5480s. The pair is oversold on short-term basis and in need to momentum adjustment, while the strong dollar is still withholding the currency back. Sterling has surely set targets in the downside as it solidly trades below 1.9840s where it failed to exceed today content with only setting the intraday high at the level. The pair extended the downside to strike the low of 1.9745, while shall the pair continue to trade below 1.9760s extending the south headings to below 1.9720s targets are to be at 1.9640s once more though still the pair lacks enough bearish momentum to withhold the headings south. The USDJPY is shy off our target at 108.40s where it set the high at 108.32 after it did find support from today's lows set at 107.60s; still though the pair is still lingering among overbought areas and that solid resistance level might hold the pair and trigger the correction while if the pair breaches the level will head to 108.60-80 ahead of 109 levels while again momentum is weak to see the pair withhold those levels. Crown Forex disclaimer:The above may contain information for investors/traders and is not a recommendation to buy or sell currencies, gold, silver & energies, nor an offer to buy or sell currencies, gold, silver & energies. The information provided is obtained from sources deemed reliable but is not guaranteed as to accuracy or completeness. I am not liable for any losses or damages, monetary or otherwise that result. I recommend that anyone trading currencies, gold, silver & energies should do so with caution and consult with a broker before doing so. Prior performance may not be indicative of future performance. Currencies, gold, silver &energies presented should be considered speculative with a high degree of volatility and risk.