Forex Metal Weekly Newsletter
Reinforced optimism of the market participants enabled the euro to strengthen against the US dollar last week.
Month: October 2011
Employment Data and Interest Rates Comes Into Focus This Week
With a heavy news day ahead, many traders are awaiting this week’s data releases before buying into riskier assets, especially with this week’s employment and interest rate focus. With today’s high liquidity, some heavy movement is expected,...
31st October, 2011 – Daily Forex Report by GFM Research
The US Dollar Index is entering historic congestion zone of 74.50-73.40 ranges; short covering may be witnessed in the USD against most of the FX majors. Only on consistent close below 73.00, would reinitiate long-term USD bearishness.The...
USD/CAD Technical Analysis October 31, 2011
USD/CAD rose and retested the parity level on Friday, only to fall back down. This shows us that the breakdown in this pair was a serious one, and we think a breaking of the lows on Friday...
AUD/USD Technical Analysis October 31, 2011
The AUD/USD pair fell, and then rose again during the Friday session to form a hammer. The candle is at the top of the move up, so it is either supportive – and the rally has been...
USD/CHF Technical Analysis October 31, 2011
The USD/CHF pair had a slightly bullish day on Friday, showing that the 0.86 level is the start of possible support in this market. The 0.85 is a more significant level in our eyes, but this area...
GBP/USD Technical Analysis October 31, 2011
The GBP/USD market rose again on Friday as traders continue to try and sell off the Dollar. The market has found what was once the August lows in the form of the 1.61 area. The market did...
USD/JPY Technical Analysis October 31, 2011
The USD/JPY fell again on Friday as traders started to lose fear on a Bank of Japan intervention, according to the options markets. The idea that they wouldn’t be as interested in the value of the Yen...
EUR/USD Technical Analysis October 31, 2011
The EUR/USD pair had a negative day on Friday, after clocking in an outstandingly bullish day on Thursday. The rest isn’t surprising after that massive move, but the market has stopped at a former gap, which has...
USDCAD Analysis – October 29, 2011
USDCAD continued its downward move from 1.0656 and the fall extended to as low as 0.9891. Further fall could be seen next week, and next target would be at 0.9700 area. Resistance is at 1.0050, only break...