ForexTribe is a french website mainly created to share graphic analysis and trade ideas on the Forex Forum.
BandTitle:
JP Morgan and China’s inflation data led major currencies’ movements
Major currencies witnessed a significant decline before the start of the Asian session today after JP Morgan (the largest investment bank in the United States by assets) announced a of $ 2 billion loss, which drove investors to abandon higher risky assets pushing the major currencies down verses the greenback.
Australian dollar has lost most of its previous against the US dollar on Thursday after JP Morgan earnings announcement to start the Asian session with a limited trading; the AUD/USD pair is currently trading at 1.0064 level, recording its highest level at 1.0081 and the lowest at 1.0042.
The EUR/USD pair completed its downside movement, as the euro seemed to be the most affected currency by the news to fell during the Asian session recording its lowest level at 1.2904 after ...
Title:
BoE Abandons QE - as Expected, But Still Controversial
BoE Abandons QE - as Expected, But Still Controversial
Key points
- BoE leaves base rate and asset purchase target unchanged - disappointing and slightly controversial.
- The BoE might revive the QE programme at a later stage but we doubt that the Bank will buy more Gilts this year.
The Bank of England today decided to leave the asset purchase target unchanged at GBP325bn and the base rate unchanged at 0.50%. This was in line with our expectations and the consensus forecast in the market. A few forecasters believed the MPC would announce more Gilt buying. The BoE refrained from issuing a statement.
The decision is in many ways disappointing. In our BoE preview "Real monetary stimulus - no more QE, please", we proposed the BoE could consider either 1) cutting the base rate by 25bp ...
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EUR/USD Continues to Tumble
The euro continued to tumble vs. its main currency rivals yesterday, as traders remained cautious about investing in riskier assets due to political uncertainty in the euro-zone. The EUR/USD fell to a fresh three-month low during the afternoon session at 1.2929. Turning to today, traders should be prepared for market volatility, as significant indicators from the UK and US are scheduled to be released. Attention should be given to the UK MPC Rate Statement, followed by the US Trade Balance figure and a speech from Fed Chairman Bernanke. Should any of the news lead to additional pessimism in the global economic recovery, riskier currencies like the euro may fall further.
Economic News
USD - Safe Haven Dollar Extends Gains amid Euro-Zone Worries
A lack of news events yesterday helped the ...
Title:
Technical analysis of the XAU/USD (Gold) pair on May 10th, 2012
Commentary of the XAU/USD (Gold) pair:
The pair XAU/USD has validated yesterday the breakout of 1600 points, offering a new sell signal.
Then, the pair found support on 1580 points and also on the lower band of its medium term bearish channel (purple lines).
All indicators are bearish.
We maintain to trade only short positions as far as 1620 points is resistance.
The breakout of 1580 will both a new sell signal and open the way towards 1550 points.
In case of return above 1620 points, we will wait the breakout of 1640 to advise long positions.
See the previous analysis of the XAU/USD pair of May 9th, 2012
XAU/USD Analysis
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Technical analysis of the AUD/USD parity on May 10th, 2012
Commentary of the AUD/USD parity:
The pair AUD/USD found support yesterday on 1.0050 and just made a pullback on the upper band of its bearish channel (purple lines).
The pair is currently trying to make a return above 1.01.
All indicators are still bearish.
We continue to advise short positions as far as 1.0150 is resistance.
A return below 1.01 will comfort our bearish feeling.
The breakout of 1.0050 will give a new sell signal and open the way towards 1.0.
In case of return above 1.0150, we will wait the breakout of 1.02 to advise long positons.
See the previous analysis of the AUD/USD parity of May 9th, 2012
AUD/USD Analysis
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Technical analysis of the EUR/USD pair on May 10th, 2012
Commentary of the EUR/USD pair :
The pair EUR/USD is currently testing the support at 1.2950.
The pair is moving below the lower band of its bearish channel (purple lines).
All indicators are bearish.
We continue to advise short positons as far as 1.3070 is resistance.
The breakout of 1.2950 and 1.29 will both give a new sell signal.
In case of return above 1.3070, we will wait the breakout of 1.31 to advise long positions.
See the previous analysis of the EUR/USD pair of May 9th, 2012
EUR/USD Analysis
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Slow News Day May Lead to Further Euro Losses
The euro remained relatively unchanged vs. its main rivals throughout the European session yesterday, as political uncertainty in the euro-zone kept the currency near its recent lows. After dropping as low as 1.3000 during early morning trading, the EUR/USD spent most of the day trading around 1.3010. Turning to today, a slow news day may lead to low liquidity in the marketplace. Traders will want to note that a low liquidity environment can often lead to unexpected price shifts for seemingly no reason. Given the euro's recent bearish trend, the possibility for further downward movement for the common currency exists.
Economic News
USD - Dollar Remains Bearish vs. JPY
The US dollar remained below the psychologically significant 80.00 level vs. the Japanese yen throughout yesterday's ...
Title:
Technical analysis of the XAU/USD (Gold) pair on May 9th, 2012
Commentary of the XAU/USD (Gold) pair:
The pair XAU/USD has suddenly validated the breakout of 1630 and 1620 points, offering new sell signals.
The pair is currently testing the support at 1600 points and also the lower band of its medium term bearish channel (purple lines).
All indicators are bearish.
We maintain to trade only short positions as far as 1630 points is resistance.
The breakout of 1600 and 1580 will both give a new sell signal and open the way towards 1550 points.
In case of return above 1630 points, we will wait the breakout of 1650 to advise long positions.
See the previous analysis of the XAU/USD pair of May 8th, 2012
XAU/USD Analysis
Title:
Technical analysis of the EUR/USD pair on May 9th, 2012
Commentary of the EUR/USD pair :
The pair EUR/USD just validated the breakout of the support at 1.30, offering a new sell signal.
The pair is currently testing the lower band of its bearish channel (purple lines).
All indicators are bearish.
We continue to advise short positons as far as 1.3070 is resistance.
The breakout of 1.2950 and 1.29 will both give a new sell signal.
In case of return above 1.3070, we will wait the breakout of 1.31 to advise long positions.
See the previous analysis of the EUR/USD pair of May 8th, 2012
EUR/USD Analysis
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