{"id":9618,"date":"2010-05-21T08:46:40","date_gmt":"2010-05-21T12:46:40","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=9618"},"modified":"2010-05-21T08:46:40","modified_gmt":"2010-05-21T12:46:40","slug":"forex-market-review-05212010","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2010\/05\/21\/forex-market-review-05212010\/","title":{"rendered":"Forex Market Review 05\/21\/2010"},"content":{"rendered":"<p><span style=\"text-decoration: underline;\"><strong><strong>Market   Analysis <strong><strong><strong><\/strong><\/strong><\/strong><strong><strong><strong><strong><a href=\"http:\/\/system.referforex.com\/processing\/clickthrgh.asp?btag=a_1391b_3739\" target=\"_blank\"><strong>by Finexo.com<\/strong><\/a><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/span><\/p>\n<p>Upcoming Sessions\u00a0 (all  times GMT)<br \/>\n\u2022\u00a0German Ifo Business Climate(8:00)<br \/>\n\u2022\u00a0GBP Public  Sector Net Borrowing (8:30)<br \/>\n\u2022\u00a0CAD Core CPI m\/m (11:00)<br \/>\n\u2022\u00a0CAD  Core Retail Sales m\/m (12:30)<\/p>\n<p>Asian markets continued selling off assets in line with  the recent wave of risk aversion. As expected, whatever caused the so  called \u2018glitch\u2019 in the NYSE on May 6th, 2010, has come back to haunt the  markets. Despite recovering from this &#8216;glitch&#8217;, Markets across the  board have reneged on their gains over the course of the past few weeks,  and ended lower than May 6th, 2010.<br \/>\nMajor institutional insiders  are speaking of the \u201ccorrection we\u2019ve been waiting for.\u201d It appears  everyone is selling everything, including Gold.<\/p>\n<p><strong>EURUSD<\/strong><br \/>\nThe EUR\/USD may have  surprised some in the markets, but not seasoned traders who were  expecting a bit of kick-back to the extreme selling of the past few  weeks. As the world continues to flee towards risk-adverse assets pull,  so too are the Europeans who continue to switch their funds back into  the Euro, adding to the effects of the recent short covering\/ short  squeeze rally.<br \/>\nSupport\/Resistance: 1.2454\/1.2738<\/p>\n<p><strong>USDJPY<\/strong><br \/>\nJapanese importer bids  supported the dollar overnight as business related interests continue to  dominate the direction of the Japanese exchange rate. The Nikkei has  dropped over 5% this week alone. According to financial analysts, if the  Yen were to strengthen alongside a losing market, Japanese exporters  would get double hit, so accordingly the interest rate is supported.<br \/>\nSupport\/Resistance:  89.00\/92.00<br \/>\n<strong>Gold<\/strong><br \/>\nGold  continued to fall overnight, as the precious metal struggled to hold on  to investors as traders drop like flies out of their long positions. In  an environments where everyone is selling everything and the real  threat to the money supply is deflation due to the recessionary effects  of a double dip, Gold no longer represents a safe haven. Accordingly,  Gold continues to slide south.<br \/>\nSupport\/Resistance: 1157\/1195<\/p>\n<p><span style=\"text-decoration: underline;\"><strong><a href=\"http:\/\/system.referforex.com\/processing\/clickthrgh.asp?btag=a_1391b_3739\" target=\"_blank\">Forex  Market Review &amp; Analysis by                           Finexo.com<\/a><\/strong><\/span><\/p>\n<p>Disclaimer: Trading the foreign exchange (Forex) carries a high level                            of risk, and may not be suitable for all       investors.     All        information and opinions contained on this       website are to   be   used     for     general informational purposes       only and do not     consitute    investment      advice.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Finexo &#8211; Gold continued to fall overnight, as the precious metal struggled to hold on to investors as traders drop like flies out of their long positions. In an environments where everyone is selling&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-9618","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/9618","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=9618"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/9618\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=9618"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=9618"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=9618"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}