The pair sought to test support at 1.0139, the earlier low, and resistance at 1.0284, the high of Jan. 13.

Thank the euro for the Canadian dollar’s bounce back.

The euro hit a recent four-month low on fears Greece is teetering closer to exiting the eurozone, possibly pressuring Spain and others to follow suit.

Greece is headed for parliamentary elections in June, and fears are building that anger over austerity measures slapped on the country in exchange for bailout money will result in strong showing among politicians opposed to harsh rescue-funding terms.

European officials are working on a contingency plan should Greece exit the eurozone, which would include minimalizing the fallout.

“A year and a half ago there maybe was a risk of a domino effect,” says European Union trade commissioner Karel De Gucht, according to newswire reports.

“But today there are in the European Central Bank, as well as in the Commission, services working on emergency scenarios if Greece shouldn’t make it. A Greek exit does not mean the end of the euro, as some claim.”

De Gucht’s words coupled with sentiment that the euro has fallen far enough sent currency rising and the dollar falling across world markets on Friday.

Hints of loose monetary policies out of the U.S. also pushed the greenback down.

Earlier this week, the U.S. Federal Reserve released the minutes of its latest monetary policy meeting, in which members suggested they would favor stimulating the economy should recovery veer off course.

“Several members indicated that additional monetary policy accommodation could be necessary if the economic recovery lost momentum or the downside risks to the forecast became great enough,” the Federal Reserve minutes read.

The Canadian dollar has taken a beating in recent sessions due to a broader rush to the greenback despite Canada’s overall economic health, and the euro’s recovery sent the pair rising on Friday.

The Canadian dollar, meanwhile, was down against the euro and down against the yen, with EUR/CAD up 0.73% and trading at 1.3042 and CAD/JPY down 0.44% at 71.41.

Check out the original source here.

Index

Last

High

Low

Daily Change (%)

Daily Range (% of ATR)

DJ-FXCM Dollar Index

10117.01

10154.53

10106.53

0.03

104.88%

The Dow Jones-FXCM U.S. Dollar Index (Ticker: USDollar) remains 0.03 percent higher from the open after moving 105 percent of its average true range, and we may see the greenback consolidate throughout the North American trade as hopes surrounding the G8 Summit props up market sentiment. However, as the EU struggles to meet on common ground, there’s certainly limited scope of seeing something done on a global scale, and we should see the flight to safety gather pace in the days ahead as the heightening risk for contagion saps risk-taking behavior. In turn, the upward trending channel should continue to take shape in the week ahead, and we will be watching for fresh 2012 highs in the index as the economic docket is expected to highlight an improved outlook for the U.S. economy.

Although the USDOLLAR remains overbought, the drop in risk-taking behavior continues to increase the appeal of the reserve currency, and we will need to see the oscillator fall back below 70 to pave the way for a short-term correction. As the fundamental developments on tap for the following week are expected to show a rise in home sales paired with a rebound in U.S. durable goods, a slew of positive developments should heighten the bullish sentiment underlining the greenback, and we may see the fundamentals play an increased role in dictating price action as it dampens speculation for additional monetary support. However, as the index struggles to hold above the 78.6 percent Fibonacci retracement around 10,118, the dollar may be carving out a higher high in May, and we will be looking for a higher low as the greenback looks poised for a correction. In turn, we may see the 61.8 percent Fib around 9,949 come in as new support, and we will maintain our bullish call for the USD as the Fed slowly moves away from its easing cycle.

Two of the four components weakened the greenback, led by a 0.62 percent decline in the Australian dollar, and the high-yielding currency may face additional headwinds in the week ahead as the growth outlook for the $1T economy deteriorates. Beyond the headlines coming out of Europe, developments coming out of China – Australia’s largest trading partner – may continue to stoke fears of a ‘hard landing,’ and we may see market participants increase bets for lower borrowing costs as the Reserve Bank of Australia looks to carry its easing cycle into the second-half of the year. According to Credit Suisse overnight index swaps, market participants are pricing a 73 percent chance for another 50bp rate cut at the next rate decision on June 5th, and the AUDUSD may continue to give back the rebound from back in November as it searches for support.

— Written by David Song, Currency Analyst

To contact David, e-mail dsong@dailyfx.com. Follow me on Twitter at @DavidJSong

To be added to David’s e-mail distribution list, send an e-mail with subject line “Distribution List” to dsong@dailyfx.com.

Join us to discuss the outlook for the major currencies on the DailyFX Forums

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Pictured below we can see the ascent of the EURGBP, begging near the inception of the Euro in 2000. During its climb the EURGBP has been known to have less volatility than other Euro pairs. On average the EURGBP moves approximately 50 pips a day making it about half as active as the EURUSD pair . It is important to note that ATR levels spiked during the 2008 financial crisis to a record level of 230 and promptly declined.

As ATR decliend to more normal levels, the EURGBP declined as well trading nearly 19% off its 2008 highs and challenging to create a new trend! As new market direction develops, lets look at the primary fundamental driver of the EURGBP pair.

European Sovereign Debt Crisis

The recent decline in the EURGBP has come on the back of the ongoing European sovereign debt crisis. Growth has stalled in the Euro zone as rumors of banks collapsing, social unrest, and political changes develop. European businesses and investors have turned skittish and are looking across the channel to their neighbors to park their funds as their continental crisis plays out. In result, London has seen an explosion of demand for Great British Pounds. This has moved the EURGBP into the longest bear trend in its existence, declining over 1800 pips in the last three years. Going forward if this economic peril continues in Europe, it may spell a change in the long term trend on the currency pair.

Trading the EURGBP

Trading a pair like the EURGBP is an excellent proposition for trend traders that prefer to avoid the volatility of the traditional EURUSD and EURJPY pairs. Known for long lasting trends, it is critical to identify support and resistance levels to successfully trade the EURGBP. Currently resistance is established by connecting our 2008 and 2011 high at .9084. Support is created by connecting the February 2009 low at .9663 with the June 2009 low at.8399. Both support and resistance are running parallel in a downward trajectory indicative of a bearish price channel.

Traders will look to take advantage of the developing channel by selling resistance and buying support. Oscillators such as RSI or MACD can be employed to gauge momentum and market timing for new entry positions. Breakout traders may also use the pricing channel to look for a breakout of resistance and a return to the longer standing uptrend. Regardless of the method traded, keeping an eye on these levels will help astute traders better navigate the EURGBP.

—Written by Walker England, Trading Instructor

To contact Walker, email WEngland@FXCM.com . Follow me on Twitter at @WEnglandFX.

To be added to Walker’s e-mail distribution list, send an email with the subject line “Distribution List” to WEngland@FXCM.com .

DailyFX providesforex newson the economic reports and political events that influence the currency market. Learncurrency tradingwith a free practice account and charts from FXCM.

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It’s Friday, everyone! And that means another Primal Blueprint Real Life Story from a Mark’s Daily Apple reader. If you have your own success story and would like to share it with me and the Mark’s Daily Apple community please contact me here. I’ll continue to publish these each Friday as long as they keep coming in. Thank you for reading!

Dear Mark,

Here follows a detailed timeline of how I came across MDA and your book The Primal Blueprint along with more details about my health history:

I was born in Houston, Texas and adopted by a family of Czech origin. I was diagnosed with hypoglycemia as a kid. I don’t so much buy into that diagnosis. I think I was just bored and constrained within the typical public school system. However, unbeknownst to me at the time, the breads, kolaches, pastries and potatoes that were so prevalent in my mother’s native food were spiking my blood pressure to the moon.

I was always involved in gymnastics, competitive swimming, baseball and basketball as a child, so I was never really overweight. Since I was adopted, my mother, who is very wise, took the time to cook differently for me and I ate a lot of seafood and vegetables growing up.

When I got to college I started eating out a lot and since I was physically active and involved in Jeet Kun Do and Brazilian Jiu-jitsu I was always in relatively good shape. However, a few pounds a year adds up after twenty years, and at the age of forty I found myself creeping up on the scale to 240 pounds. I am 6’2” so I was able to hide it fairly well with a big frame, but I felt sluggish. I was living a musician lifestyle and waking up every day at 11 AM.

I have a good friend who is authentic and real. I went to see him in Vegas, and the minute I walked in his door he told me I didn’t look good with three chins and I would never attract a decent woman fat. He has a way with words and I decided to take control of my life and my fitness. My friend and his wife had lost forty pounds a piece utilizing the Atkins diet. I understand enough about psychology to realize that I could simply model their behavior and achieve similar results.

I did and I lost a lot of weight and I felt a lot better. However, I found the shakes and the bars that had the fake sugar in them to taste very repulsive. I believe how you do anything is how you do everything. I have dedicated my life to music and consider it a fine art. I try to make all my relationships a masterpiece and consider friendship a fine art. I was happy with the results of the Atkins approach, but found many of the meals and supplementation boring, and far from fine art when it comes to cuisine.

I have a lot of friends who are foodies and gourmet chefs and I knew there had to be a better way. One night I Googled “no carb recipes” and MDA popped up in my search. I was hooked from the front page and once I started taking a look at the recipes my mouth began to water. Real food in its natural state, no strange ingredients, nothing in a box or can – I was hooked.

I was using Evernote at the time and I copied recipe after recipe from your site. I fell in love with eggs all over again. I had such misinformation about eggs. You mentioned on your site how every grandmother who lived to a ripe old age had that can of bacon fat on top of her stove that she cooked everything in. Mark, that was my grandmother Sophie Slansky. I loved all her food as a kid and she grew up on farm.

Your site elegantly and with fortitude debunked every foolish myth there was about food. Fat, including animal fat, is essential to our well-being, and you have the moxie and the courage to step out on the edge and challenge all of these myths.

The number one thing I learned from MDA and that I encourage everyone who wants to get lean and mean with a great low body-fat percentage is to understand this: 90% of all body composition begins with what you put in your mouth. You could join all the gyms in the world, buy every ab machine, personal trainer and run thirty miles a day and never have the body composition of someone who adheres to the aforementioned principle.

Since I started the Primal approach I have woken up every day for the last two years at 5:30 in the morning. I crave my fennel and dill omelet I learned from you. I crave poached eggs, I look forward to breakfast. I honestly in the deepest depths of my soul can not imagine how anyone could convince me that they honestly crave a bowl of oatmeal or Captain Crunch.

The differences I have seen are incredible. All my friends tell me I look fifteen years younger. It’s completely revived my music career as a performer. There aren’t that many fat rock stars. I can see my abs for the first time since I was fourteen years young. I can’t believe how much I enjoy what I eat. A typical day for me might be a vegetable omelet for breakfast, grilled chicken wings with scrumptious crispy skin for lunch along with a side of celery and real blue cheese, then at dinner a prime dry aged rib-eye with cauliflower mashed potatoes and grilled asparagus, a glass or three of Cabernet, and a piece of 85% cocoa chocolate.

I feel completely satiated and content after every meal.

Here is a video I made featuring me preparing my Primal Sushi Rolls, which are really not sushi at all. They are made with beef and asparagus. They are always a huge hit at parties!

Your post about drinking ten to twelve big glasses of water a day being ridiculous was spot on as well. I was drinking way too much water before I found your site.

This is the greatest thing that drew a rebel musician like myself to your site. Just about everything on MDA is counterintuitive. I found that to be where the truth lies these days you have to seek it out. That food pyramid they stuffed down our throats all those years is a complete joke.

I also want to note that Adelulf – my beloved, non neutered, all black male German Shepherd – eats Primal as well. Every morning I walk out into the yard and give him two fresh eggs in the shell. I set them down in the yard and it’s like Easter. Even as a puppy he knew what to do. He carefully picks up the egg, puts it in his mouth, takes it where he wants, pokes a hole in the shell with his canines and slurps up every last drop of both eggs. He eats raw chicken with the bones, turkey necks, liver, kidneys, and raw beef. His teeth are completely white, and his coat incredibly shiny. If I had a dollar for every so called animal lover, dog expert and veterinarian who told me my dog is going to die from salmonella poisoning from the raw eggs and choke on the raw bones I would be retired on a beach in Hawaii right now drinking margaritas. Here’s a picture of me and my dog where I landed at about twelve to thirteen percent body fat.

Thanks Mark. Pardon the long email, but I have a lot of deep appreciation for what you are doing.

All the best and Grok on, Mark.

Eric

Check out Erik’s website EricKeyes.com and his music video of an original song titled “Words of a Song“.

Grab a Copy of The Primal Blueprint 21-Day Total Body Transformation and Start Getting Primal Today!

Check out the original source here.

Related Posts:

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If you’re an Android tablet owner, you’re likely very familiar with the drill: after you unlock the device, you’re presented with a static home screen full of apps and widgets, which may or may not be relevant to your current need. The creators of Chameleon, a home screen replacement for Android 3.2 / 4.0 tablets, would like to change all that with a dynamic environment that’ll adapt to your current GPS location, WiFi network or the time of day. Users may design and customize their ideal layouts, which may include news and social feeds in the morning, a calendar and tasks for the work environment and an assortment of entertainment options for the evening at home. Switching between these layouts isn’t a problem, either, as you’ll be able to flick between home screens just as you would with the standard Android interface.

Like a good rug, the interface is attractive and really pulls everything together. Chameleon is currently a Kickstarter project, and its creators intend to unleash the creation into the Google Play Store this September. Those who donate $5 or more can expect early delivery of the app, which is currently slated for August. It never hurts to be early in line, and Chameleon might just rekindle your love for Android tablets. For a quick peek of what’s in store, check the video after the break.

[Thanks, Greg]

Previous project update: It’s only been a day since we revealed the Troller 1D to the world, which currently has seven backers and has raised $243. Fortunately, 29 days remain to help the project reach its $2,600 goal.

Check out the original source here.

K-Touch’s first TD-SCDMA smartphone, T660, is powered by Marvell’s industry leading single-chip PXA920H

SANTA CLARA, Calif., May 17, 2012 /PRNewswire/ — Marvell (Nasdaq: MRVL) today announced the entrance of China’s Tier 1 mobile OEM, K-Touch, into the Time Division Synchronous Code Division Multiple Access (TD-SCDMA) smartphone market. The new K-Touch T660 is equipped with a large 4-inch screen that delivers superior performance at the 1,000 RMB price point. The T660, which features the Marvell® PXA920H single-chip communications processor, will be available on China Mobile, the country’s largest carrier with more than 650 million subscribers.

“I’m very excited to see a tier-1 OEM, such as K-Touch, join the growing family of global OEMs providing TD-SCDMA solutions in China. I believe this represents the transition of feature phones to smartphones for the mass market,” said Weili Dai, Co-founder of Marvell. “The rapid growth of partners across the entire TD-SCDMA ecosystem provides a strong foundation for continued growth in the largest consumer market for years to come. We are proud of our work with K-Touch and are excited to continue our collaboration on next-generation smartphones for the China market.”

“Marvell was the natural choice for K-Touch when we decided to enter the TD smartphone market, as it has demonstrated unparalleled leadership in the industry,” said Xiuli Rong, Chairwoman of K-Touch. “The breadth of Marvell technology portfolio provides all the necessary building blocks for us to transition from a leading feature phone OEM to providing low-cost smartphones for the mass market.”

The K-Touch T660, the first K-Touch device available to China Mobile subscribers, features Marvell’s 1GHz PXA920H communication processor, a highly integrated 3G platform with TD-SCDMA and GSM/EDGE support, designed for multimedia-centric mobile devices.

Product Highlights

Marvell PXA920H 1GHz CPU communications platform
Marvell Avastar™ 88W8787 Wi-Fi, Bluetooth, and FM enabled; 802.11n compliant
Marvell Mobile Hotspot capability
Marvell PM8607 integrated audio and power management
Marvell’s field-proven robust high-performance GSM/EDGE/TD-SCDMA protocol stack
Marvell RF808 RF transceiver
4-inch IPS screen
5 megapixel camera
Android Gingerbread 2.3 operating system
CMMB+MBBMS2.0 Mobile TV
4GB eMMC ROM and 512MB LPDDR2 RAM

About Marvell

Marvell (NASDAQ: MRVL) is a world leader in the development of storage, communications and consumer silicon solutions. Marvell’s diverse product portfolio includes switching, transceiver, communications controller, wireless and storage solutions that power the entire communications infrastructure, including enterprise, metro, home and storage networking. As used in this release, the term “Marvell” refers to Marvell Technology Group Ltd. and its subsidiaries. For more information, visit Marvell.com.

About K-Touch

K-Touch has been continuously dedicating on advanced mobile technology and exploring the most up to date communication technology business model in the past ten years. We are committed to provide the best possible platform that helps people get connected and to improve user experience. The prospective thinking, advanced technologies, and innovative business strategy have become the most and only driving passion for K-Touch.

With long-term accumulated experience in hardware integration, K-Touch has grown into an all-around company, which demonstrates strong competence in difference aspects, including OS development, main board design, industrial design, mechanical design, software/hardware design, and mobile device testing. We have more than 1000 top experts from around the world dedicated to R&D who devote their times and efforts in our state of the art lab facilities.

Marvell and the M logo are registered trademarks of Marvell and/or its affiliates. Avastar is a trademark of Marvell and/or its affiliates. Other names and brands may be claimed as the property of others.

Check out the original source here.

Check out the original source here.

If you’re an Android tablet owner, you’re likely very familiar with the drill: after you unlock the device, you’re presented with a static home screen full of apps and widgets, which may or may not be relevant to your current need. The creators of Chameleon, a home screen replacement for Android 3.2 / 4.0 tablets, would like to change all that with a dynamic environment that’ll adapt to your current GPS location, WiFi network or the time of day. Users may design and customize their ideal layouts, which may include news and social feeds in the morning, a calendar and tasks for the work environment and an assortment of entertainment options for the evening at home. Switching between these layouts isn’t a problem, either, as you’ll be able to flick between home screens just as you would with the standard Android interface.

Like a good rug, the interface is attractive and really pulls everything together. Chameleon is currently a Kickstarter project, and its creators intend to unleash the creation into the Google Play Store this September. Those who donate $5 or more can expect early delivery of the app, which is currently slated for August. It never hurts to be early in line, and Chameleon might just rekindle your love for Android tablets. For a quick peek of what’s in store, check the video after the break.

[Thanks, Greg]

Previous project update: It’s only been a day since we revealed the Troller 1D to the world, which currently has seven backers and has raised $243. Fortunately, 29 days remain to help the project reach its $2,600 goal.

Check out the original source here.

K-Touch’s first TD-SCDMA smartphone, T660, is powered by Marvell’s industry leading single-chip PXA920H

SANTA CLARA, Calif., May 17, 2012 /PRNewswire/ — Marvell (Nasdaq: MRVL) today announced the entrance of China’s Tier 1 mobile OEM, K-Touch, into the Time Division Synchronous Code Division Multiple Access (TD-SCDMA) smartphone market. The new K-Touch T660 is equipped with a large 4-inch screen that delivers superior performance at the 1,000 RMB price point. The T660, which features the Marvell® PXA920H single-chip communications processor, will be available on China Mobile, the country’s largest carrier with more than 650 million subscribers.

“I’m very excited to see a tier-1 OEM, such as K-Touch, join the growing family of global OEMs providing TD-SCDMA solutions in China. I believe this represents the transition of feature phones to smartphones for the mass market,” said Weili Dai, Co-founder of Marvell. “The rapid growth of partners across the entire TD-SCDMA ecosystem provides a strong foundation for continued growth in the largest consumer market for years to come. We are proud of our work with K-Touch and are excited to continue our collaboration on next-generation smartphones for the China market.”

“Marvell was the natural choice for K-Touch when we decided to enter the TD smartphone market, as it has demonstrated unparalleled leadership in the industry,” said Xiuli Rong, Chairwoman of K-Touch. “The breadth of Marvell technology portfolio provides all the necessary building blocks for us to transition from a leading feature phone OEM to providing low-cost smartphones for the mass market.”

The K-Touch T660, the first K-Touch device available to China Mobile subscribers, features Marvell’s 1GHz PXA920H communication processor, a highly integrated 3G platform with TD-SCDMA and GSM/EDGE support, designed for multimedia-centric mobile devices.

Product Highlights

Marvell PXA920H 1GHz CPU communications platform
Marvell Avastar™ 88W8787 Wi-Fi, Bluetooth, and FM enabled; 802.11n compliant
Marvell Mobile Hotspot capability
Marvell PM8607 integrated audio and power management
Marvell’s field-proven robust high-performance GSM/EDGE/TD-SCDMA protocol stack
Marvell RF808 RF transceiver
4-inch IPS screen
5 megapixel camera
Android Gingerbread 2.3 operating system
CMMB+MBBMS2.0 Mobile TV
4GB eMMC ROM and 512MB LPDDR2 RAM

About Marvell

Marvell (NASDAQ: MRVL) is a world leader in the development of storage, communications and consumer silicon solutions. Marvell’s diverse product portfolio includes switching, transceiver, communications controller, wireless and storage solutions that power the entire communications infrastructure, including enterprise, metro, home and storage networking. As used in this release, the term “Marvell” refers to Marvell Technology Group Ltd. and its subsidiaries. For more information, visit Marvell.com.

About K-Touch

K-Touch has been continuously dedicating on advanced mobile technology and exploring the most up to date communication technology business model in the past ten years. We are committed to provide the best possible platform that helps people get connected and to improve user experience. The prospective thinking, advanced technologies, and innovative business strategy have become the most and only driving passion for K-Touch.

With long-term accumulated experience in hardware integration, K-Touch has grown into an all-around company, which demonstrates strong competence in difference aspects, including OS development, main board design, industrial design, mechanical design, software/hardware design, and mobile device testing. We have more than 1000 top experts from around the world dedicated to R&D who devote their times and efforts in our state of the art lab facilities.

Marvell and the M logo are registered trademarks of Marvell and/or its affiliates. Avastar is a trademark of Marvell and/or its affiliates. Other names and brands may be claimed as the property of others.

Check out the original source here.