USDJPY Analysis – August 4, 2012
USDJPY is in downtrend from 80.61. Deeper decline to test 77.66 support could be expected next week, a breakdown below this level will target 76.00 area. Resistance is now at the upper line of the price channel...
Month: August 2012
AUDUSD Analysis – August 4, 2012
AUDUSD remains in uptrend from 0.9581. Further rise could be expected next week, and next target would be at 1.0700 area. Support is now located at the upward tend line on daily chart, only a clear break...
GBPUSD Analysis – August 4, 2012
GBPUSD stays in a trading range between 1.5393 and 1.5776. The price action in the range is likely consolidation of the uptrend from 1.5268, another rise is expected after consolidation, and a break above 1.5776 could signal...
EURUSD Analysis – August 4, 2012
EURUSD remains in downtrend from 1.3486, the rise from 1.2042 is treated as consolidation of the downtrend. Further rise would likely be seen next week, and the target would be at1.2600 area. Key resistance is at 1.2747,...
GBP/USD: technical analysis – August 3, 2012
The pound is still consolidating and moving broadly sideways. Yesterday’s spike-down means the exchange rate has hit its range lows. It is currently beginning a recovery rally although the 50-day MA is resisting. A move above 1.5620...
Forex-Metal Daily Analysis -.03/08/2012
Market review for 02.08.12: Markets were disappointed with the results of the ECB meeting.
EUR/USD: technical analysis – August 3, 2012
Eurodollar is currently recovering after yesterday’s spike lower. It has formed an ABC correction and reached the lower boundary of the consolidation zone which will probably resist and push the pair back down again. If it breaks...
EUR/GBP: Pound Advances Despite Projected Miss in Budget Deficit Targets
Under pressure to save the Euro, the European Central Bank is gearing up to buy Italian and Spanish government bonds in the open market – but not yet. ECB President Mario Draghi said it will only act...
EUR Tumbles Following ECB Press Conference
The euro tumbled against virtually all of its main currency rivals yesterday afternoon, after the ECB refrained from announcing any new significant new measures to boost euro-zone growth. The news led to risk aversion in the marketplace,...
USD/JPY Forecast August 3, 2012, Technical Analysis
The USD/JPY pair fell during the session on Thursday as the “risk off” trade came back into play. This was predicated by the ECB and its lack of monetary policy after the meeting. However, this pair is...