July 25, Chicago - National Futures Association (NFA) has permanently barred American Atlantic Financial Corp. (American Atlantic) and its principal, John Menoutis from NFA membership.
Over the last few months, the Dollar has bounced up and down against the Euro, but never breaking out of a range defined by $1.53 and $1.60. Analysts remain divided not only over if the Dollar will soon break-out, but also over whether its next major move will be upwards or downwards. The recent Dollar upswing has led some to speculate that more permanent strength is inevitable, but naysayers note that this rebound was a product of lowered oil prices, caused by global economic weakness, which is actually Dollar-negative. According to a recent poll, though, the bulls outnumber the bears; the consensus forecast for the Dollar 12 months from now is $1.50. The Wall Street Journal reports:
A Dow Jones Newswires survey last week of 23 analysts forecast the dollar would
begin to recover on longer-term basis.
Read More: Dollar Likely to Extend Downward Euro Spiral
CEO Jeff Immelt says the reorganization will focus the company on growth.
USDJPY broke above 107.75 resistance, and formed a cycle bottom at 103.76 on daily chart. Further rise towards 112.00 is expected to follow in a couple of week. Key support is now located at 103.76, only fall below this level will signal resumption of down trend. For long term analysis, USDJPY is in consolidation to long term up trend. Further rise towards 120.00 is now in favor. However, a break of 108.58 level is needed to confirm such case.
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