USD/JPY Technical Analysis August 10, 2011
The USD/JPY pair managed to pierce the 77 level during Asian trading, but fears of an intervention took over the psyche of the markets as traders would not push the BoJ any harder.
Category: Daily Forex Reports
EUR/USD Technical Analysis August 10, 2011
EUR/USD rose as the Fed announced that it was keeping rates on hold until the middle of 2013. This sets up the USD for more weakness over time, but in the interim, the markets will continue to...
10th August, 2011 – Daily Forex Report by GFM Research
The US Dollar fell on the event of most of the asset classes finding stability at the lower ranges; most of the equity bourses find support at the week lows. The Dollar Index is heading towards the...
Federal Reserve Fails to Address Downgrade
Statements released by the Federal Reserve yesterday sparked a wave of pessimism in trading circles as no clear plans were put forth to address the financial weakness seen since S&P’s historic downgrade of the US credit rating.
AUD/USD Analysis (August 10)
After a very impressive decline which lead the pair below parity (1000 pips within a few days), we did see the market bouncing significantly during the last trading session.
USD/CAD Analysis (August 10)
After a sharp rally which confirmed a potential long term reversal, the pair has found some great resistance ahead of parity which was expected.
USD/CHF Analysis (August 10)
The pair has accelerated its move to the downside very quickly yesterday after Fed Charman speak. It has made a new record low at 0,7070.
USD/JPY Analysis (August 10)
The pair has come back to its value from before the BoJ intervention which didn’t have the impact expected as often.
GBP/USD Analysis (August 10)
The pair has been under intense pressure yesterday testing and bouncing on 1,62 corresponding to the bottom of an intraday descending channel.
EUR/USD Analysis (August 10)
After Fed Chaiman Bernanke rather dovish statement, the EUR/USD has found renewed strengh to test again its descending trendline. 1,44 is now a clear resistance to deal with.