Sunday, May 30, 2010
Forex: USD/CHF drops back to test 1.1485 support area
Dollar recovery from Thursday's low at 1.1485 has been capped at 1.1575 on Asian session and following pullback extended on early European session, reaching back to 1.1485 support level, which is being tested at the moment of writing.
On a wider perspective, Slobodan Drvenica, technical analyst at Windsor Brokers Ltd considers the current downtrend a corrective move with bulls dominating while above 1.1449: "Shallow correction from 1.1694, 25 May yearly high, precedes a likely push higher to challenge 1.1785, trendline drawn off Feb 2006 high. Support at 1.1449 now keeps immediate bulls in play, with break above 1.1655 needed to confirm fresh swing higher."
Support levels, according to Drvenica, lie at 1.1481, 1.1449 and 1.1417. Resistance levels are 1.1655, 1.1694 and 1.1725.
Thursday, May 27, 2010
Forex: AUD/USD reaches levels above 0.8300
Australian Dollar has bounced back from 0.8185 session low, and rallied in Europe,to return to levels above 0.8300, retreating Asian session's decline, and approaching resistance level at 0.8355/65 -May 21 and 24 highs-.
If the pair manages to consolidate above 0.8300, next resistance level comes at the mentioned 0.8355/65 (May 21 and 24 highs) and then at 0.8515/30 (intra-day support/resistance on May 19).
On the downside, immediate support level lies at 0,8185 session low, and below here, 0.8065 (May 20/25 low) and then 0.8000 (psycho level).
Tuesday, May 25, 2010
Euro: risks outnumber the benefits
The last two weeks were not happy days for the euro. The aid package drawn up by heads of government and state over the weekend of 8/9 May with the support of the ECB and the International Monetary Fund only succeeded in stabilising the single currency briefly. There then followed seven days of decline, with EUR-USD crashing down at 1.2144 last Wednesday. Some of the dust has settled since then, and prices have recovered to around 1.24.
This calm resulted firstly from technical factors: EUR-USD was heavily oversold by any standards. Secondly, massive intervention by the Swiss National Bank to bolster the euro may also have played a role; the SNB is currently trying to keep EUR-CHF above 1.40. And in the short term, the euro may have been supported by some weaker US economic data and by signals from the Fed that a tightening of monetary policy is not an urgent priority for now.
Although the euro has stabilised for now, it remains extremely vulnerable to further declines in value. On the one hand, it is difficult to assess whether the rescue package will indeed function in an emergency. If, for instance, the national parliaments reserve the right to decide on support on a case-by-case basis, this package is less likely to restore confidence among investors. And the ECB’s promise to keep the sovereign debt market functioning by purchasing bonds also sounds half-hearted. That is why there are still latent fears of European government bonds defaulting.
This might explain why the demand for liquidity on the money markets has increased sharply again.
On the other hand, even if the tension on the bond markets subsides, the budgetary cuts will probably come at the expense of growth. This suggests that the ECB will continue its expansionary monetary policy and leave its low interest rates unchanged. Whatever happens, the euro has little to offer for investors for now.
However, the scenario “long spell of eurozone stagnation on account of tough austerity measures” is not necessarily the full picture. While tough consolidation would probably dampen domestic demand, the decline in the value of the euro is likely to bolster exports. In recent weeks, the euro has lost value not only against the US dollar but against most non-European currencies. On a trade-weighted basis, the euro has shed around 8.5 % in the year to date (EUR-USD by 13.7 %), according to ECB calculations. So for the first time since 2005, the euro’s external value is approaching a level that many economists would, at least roughly speaking, consider to be fair. This should boost international competitiveness and fuel exports, especially in a reasonably dynamic global economic environment.
Sunday, May 23, 2010
How to Manage Dry Skin During Chemotherapy
There are several things a patient and caregiver can do to help prevent and manage dry skin at home:
* Recognize when skin is dry. Dry skin appears rough and flaky. It may also become cracked and peeled. Skin may feel tight and become itchy.
* Keep hydrated Drink plenty if of fluids to keep body well hydrated. Dehydration is a common cause of skin dryness.
* Avoid extreme weather conditions. Try to stay out of extreme weather, like severe cold and hot weather. Dry and windy conditions can aggravate dry skin.
* Avoid personal products containing perfumes and scents. The chemicals in perfumed products like soaps, cosmetics, moisturizers, lotions, and body sprays can irritate skin, causing it to become dry. They also can worsen already dry skin.
Use products labeled perfume-free, allergen-free, or "for sensitive skin." Your doctor may recommend an over-the-counter product like Cetaphil to cleanse skin.
Friday, May 21, 2010
European shares pull back off highs
European stocks rose this morning on the back of a late rally yesterday on Wall Street, however uncertainty and fears still linger regarding euro zone public debt and new trading bans in Germany. At the moment, major indices have pulled back from their morning highs with the German DAX slipping into the red at -0.27%. The FTSE 100 and CAC 40 however still remain up showing gains of 0.47% and 0.31% respectively.
Banks are showing the biggest winnings so far after a tumultuous session a day prior where the euro fell to a fresh 4-year low. Currently Barclays, BNP Paribus and Banco Santander are all posting strong results with the common currency stabilizing however still vulnerable. Investors today will continue to look out for hints of multilateral ECB action in response to Germany’s regulation as well as slew of economic data including US jobless claims and the EMU consumer confidence index.