Forex-Metal Weekly Analysis
Market review for 6 – 10.08.2012
Month: August 2012
Uncertainty Regarding ECB Action Sends EUR Lower
The euro saw losses across the board on Friday, as inaction on the part of the European Central Bank (ECB) to lower borrowing costs in Spain and Italy resulted in risk aversion in the marketplace.
EUR/USD Forecast August 13, 2012, Technical Analysis
EUR/USD fell during the session on Friday again, but did get a bounce towards the end of the day to form a hammer. This hammer is sitting just below the 1.23 level, and on top of what...
USD/JPY Forecast August 13, 2012, Technical Analysis
The USD/JPY pair fell during the Friday session to keep within the recent consolidative area as the markets go back and forth. It is a well-known fact that the Bank of Japan has clandestinely intervened in this...
GBP/USD Forecast August 13, 2012, Technical Analysis
GBP/USD has been an interesting currency pair as of late, and Friday was no different. We saw a high during the session of 1.57 exactly, and it shows that we are banging against the door yet again....
AUD/USD Forecast August 13, 2012, Technical Analysis
The AUD/USD pair fell for much of the session on Friday only to bounce back off of the 1.05 level and form a hammer. This shows continued resilience on the part of the Australian dollar, and as...
USD/CAD Forecast August 13, 2012, Technical Analysis
USD/CAD and try to rally during the Friday session, but was slapped back down to form a massive shooting star to sit just above the 0.99 level. This shows extreme bearishness, and just how negative the view...
USDCAD Analysis – August 12, 2012
USDCAD’s downward movement extends to as low as 0.9905. Further decline could be expected over the next several days, and next target would be at 0.9800 area. Resistance is at the downward trend line on daily chart,...
USDCHF Analysis – August 12, 2012
USDCHF is in uptrend from 0.8931, the pullback from 0.9971 is likely consolidation of the uptrend. Another fall to 0.9500 area to completion the consolidation is expected over the next several days. Key resistance is at 0.9971,...
USDJPY Analysis – August 12, 2012
USDJPY stays in a downward price channel on daily chart, and remains in downtrend from 80.61. Another fall could be expected after a minor consolidation, and next target would be at 77.00 area. Key resistance is at...