Weekly technical analysis for 23.04-4.05
EURUSD
Month: April 2012
USD Shivers in the Spring Breeze of Poor Economic Numbers
After last weekend’s election in France, where the incumbent Sarkozy finished poorly, many were expecting the euro to weaken versus the USD. Such was not the case, and to the chagrin of a market loaded with shorts,...
Dollar Tumbles Following Disappointing GDP Figure
A worse than expected Advance GDP figure sent the dollar tumbling to multi-week lows against several of its main currency rivals on Friday. The EUR/USD closed out the week at 1.3249, up close to 100 pips for...
EUR/USD Forecast April 30, 2012, Technical Analysis
The EUR/USD pair rose during the session on Friday, but fell a bit short of breaking out of the descending triangle that the market looks like it is trying to form. There are a ton of problems...
USD/JPY Forecast April 30, 2012, Technical Analysis
The USD/JPY pair is one that many traders are watching at the moment. The pair features two central banks that are trying to ease monetary policy in different ways, and as such this is a real race...
GBP/USD Forecast April 30, 2012, Technical Analysis
The GBP/USD pair is absolutely out of control, and the bullishness continued on Friday. The move has been strong and relentless, and on top of that – the United Kingdom has recently gone into recession! None the...
AUD/USD Forecast April 30, 2012, Technical Analysis
The AUD/USD pair shot straight up on Friday as the “risk on” attitude came back into the markets. The pair is often used as a proxy for risk appetite and the gold markets, both of which rose...
USD/CAD Forecast April 30, 2012, Technical Analysis
The USD/CAD pair fell again on Friday as the Dollar negative sentiment continues. The reaction is to words by Federal Reserve Chairman Ben Bernanke, in which he expressed the Federal Reserve’s willingness to prop the economy up...
USDCAD Analysis – April 28, 2012
USDCAD breaks below 0.9841 support and reaches as low as 0.9799, suggesting that the downtrend from 1.0523 has resumed. Further decline could be seen next week, and next target would be at 0.9600-0.9700 area. Key resistance is...
USDCHF Analysis – April 28, 2012
USDCHF moves sideways in a narrow range between 0.8931 and 0.9333. Support is at 0.8931, a breakdown below this level will signal resumption of the downtrend from 0.9594, then deeper decline towards 0.8600 could be seen. On...