Forex-Metal Daily Analysis -05/07/2012
Technical analysis for 5.07
Month: July 2012
Will This Week’s Reports Cause Euro Bears To Reduce Their Positions?
The market’s initial reaction from last week’s European Summit was a victory for the debit nations as they stood up to Merkel and her diminishing band of creditors. Well perhaps ‘victory’ is an overreach, implying a decisive...
EUR/USD Forecast July 5, 2012, Technical Analysis
The EUR/USD pair fell during the Wednesday session as the European traders sold off their own currency. Without the Americans there to try and reverse it, this stood through the quiet and holiday impaired US trading session.
USD/JPY Forecast July 5, 2012, Technical Analysis
The USD/JPY pair initially fell during the Wednesday session as the Europeans sold off risk assets in general. However, towards the end of the session the pair did rebound to form a hammer.
GBP/USD Forecast July 5, 2012, Technical Analysis
The GBP/USD pair fell during the session on Wednesday as European sold off risk assets in general. The British pound suffered against most currencies, and obviously the Dollar was never going to be any different.
AUD/USD Forecast July 5, 2012, Technical Analysis
The AUD/USD pair fell during the session after initially surging higher. The reversal of this action formed a shooting star, which is a bearish sign.
USD/CAD Forecast July 5, 2012, Technical Analysis
The USD/CAD pair rose slightly during the Wednesday session in very light volume. One of the contributing factors would’ve undoubtedly been the fact that the oil markets were so quiet as well.
Euro Tumbles ahead of Minimum Bid Rate
The euro fell against most of its main currency rivals yesterday, as expectations that the European Central Bank will cut euro-zone interest rates today weighed down on the currency. The price of crude oil also fell yesterday,...
EUR/USD Forecast July 4, 2012, Technical Analysis
The EUR/USD pair had very little to say during the Tuesday session as the world awaits the ECB meeting. In the meantime, this pair will probably grind sideways overall, suggesting that trading will be an extremely short...
USD/JPY Forecast July 4, 2012, Technical Analysis
The USD/JPY pair had another positive session as it has been alternating between gains and losses day after day. The 80 handle is still just above, and should provide resistance. However, we do see that the highs...