GBPUSD Analysis – July 7, 2012
GBPUSD had formed a cycle top at 1.5776 on daily chart. Further decline to test 1.5236 support would likely be seen, a breakdown below this level will signal resumption of the downtrend from 1.6301, then the next...
Month: July 2012
EURUSD Analysis – July 7, 2012
EURUSD breaks below 1.2288 previous low, suggesting that the downtrend from 1.3486 has resumed. Further decline could be expected next week, and next target would be at 1.2000. Resistance levels are at 1.2500 and 1.2747, only break...
Forex-Metal Daily Analysis -06/07/2012
The ECB reduced the interest rate of Euro zone to record low level of 0.75%
ECB Rate Cut Leads to Broad Euro Losses
The euro fell across the board yesterday, following euro-zone interest rate cut which caused investors to shift their funds to safe-haven assets. The EUR/USD dropped to a one-month low, while the EUR/JPY fell some 140 pips during...
USD/JPY Forecast July 6, 2012, Technical Analysis
The USD/JPY pair fell for much of the session on Thursday; bouncing off of the bottom of will we consider the lower level of the up trending channel. The 80 level has offered resistance yet again, but...
USD/CAD Forecast July 6, 2012, Technical Analysis
The USD/CAD pair fell during most of the session on Thursday, but turned around to form a hammer just above the 1.01 level. This is probably due to the fact that the nonfarm payroll number comes out...
GBP/USD Forecast July 6, 2012, Technical Analysis
The GBP/USD pair fell for much of the Thursday session as the Bank of England introduced new quantitative easing measures during the session. The pair has found the bottom of the recent consolidation range, which we see...
EUR/USD Forecast July 6, 2012, Technical Analysis
The EUR/USD pair fell on Thursday as the European Central Bank eased its monetary policy by cutting the interest rate by 25 basis points. The candle for the Thursday session is extremely bearish, as it closed towards...
AUD/USD Forecast July 6, 2012, Technical Analysis
The AUD/USD pair had a positive session on Thursday, but did pare back some of the gains as it breached the 1.03 level. The fact is that in front of the nonfarm payroll Friday, very few traders...
Late Week Economic Data Keeps Currency Markets On Edge
The markets are being bombarded with an abundance of late week data, and there is more to come Friday. Much of the data has been properly anticipated.