Forex-Metal Daily Analysis -26/07/2012
Market review for 25.07.12: The Euro increased despite negative news from Germany.
Month: July 2012
EUR/USD: triangle forming
The eurodollar pair has stopped rallying and consolidated into a triangle which looks almost complete. If it breaks down and continues the bearish trend lower then it will reach the cluster of pivots at 1.2100; a break...
EUR/USD: Spanish Political Backlash Deteriorates the Euro
Continuing turmoil in Spain is seen to hamper the Euro’s stride alongside the US dollar today. After having fallen in the previous four months, the National Bank of Belgium’s business barometer reached a gain in July, reversing...
UK Economic Recession Deepens
The release of the Preliminary GDP data is really bad news for the UK as the economy contracted by 0.7 percent in the second quarter of this year, more than the economic forecasts of only 0.2 percent,...
Risk Taking Results in Broad Euro Gains
The euro saw gains across the board yesterday, after positive comments from an official at the European Central Bank regarding the euro-zone’s ability to combat the region’s debt crisis led to risk taking in the marketplace.
EUR/USD Forecast July 26, 2012, Technical Analysis
EUR/USD rose during the Wednesday session as the gap has now been filled from the weekend. The Euro continues to have major issues, but there were comments from various higher ups in the ECB over the last...
USD/JPY Forecast July 26, 2012, Technical Analysis
The USD/JPY pair ended the day unchanged on Wednesday as the pair bumped along the 78 support zone. The 78 handle those represent significant support in this pair, so selling here certainly is not an option.
GBP/USD Forecast July 26, 2012, Technical Analysis
The GBP/USD pair ended the session unchanged on Wednesday, as the 1.55 level remains and focus. This area was once a massive support in the consolidation area, and as such we feel that the market will continue...
AUD/USD Forecast July 26, 2012, Technical Analysis
The AUD/USD pair rose during the session on Wednesday after initially breaking through the uptrend line of the rising channel that we have been following. The breakdown through that support level was false in fact and as...
USD/CAD Forecast July 26, 2012, Technical Analysis
The USD/CAD pair fell significantly during the Wednesday session as oil prices got a bit of a boost at the $88 level. We find this pair sitting right at the 1.0150 level, which was an area of...