Forex Market Updates & Commentary |  |
- US New Home Sales come in stronger. Dollar rebounds.
- Week Ahead in Trading Rebroadcast April 25 2011
- 4-25 Economic Calender
| US New Home Sales come in stronger. Dollar rebounds. Posted: 25 Apr 2011 07:11 AM PDT The US New Home Sales rebounded nicely from the surprise sharp fall last month. The sales pace quickened to 300K from a revised 270K (revised by from 250K). The month supply of homes on the market fell to 7.3 months from 8.2 months. The West saw the sale pace rise from 58K to 73K this month. The Median Sales price rose to 213.8K from 207.7K. This is down 4.9% on the year. The Mean sale price meanwhile showed a decline to $246.8K from $256.6 K. The dollar has found some buying on the back of the better than expected economic data. The EURUSD is approaching support on the hourly chart at 1.4568. Below that is the low for the day at 1.4525 area and the 100 hour moving average (BLUE LINE) at the 1.4506 (see chart below). If the 1.4568 area can hold, look for a rotation back higher as the range continues.
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| Week Ahead in Trading Rebroadcast April 25 2011 Posted: 25 Apr 2011 06:22 AM PDT
Week Ahead in Trading with Greg and Shawn Watch the Rebroadcast now |
| Posted: 24 Apr 2011 09:31 PM PDT
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