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Bearish Movement Will BeTitle:
SunBirdFX Daily Market Analysis : 05/23/2012
www.sunbirdfx.com
Dramatic finishing in the US stock markets yesterday caused mixed closing by the main indices. The trading was on the green side most of the day but massive selling during the last half hour erased most of the bullish movement, but strong 10 minutes before the closing bell prevented sharper declines. The indices are now facing important test and if they slide under yesterday's low, the sharp declines from last week might return. On the other hand, if they cross above yesterday's high, it will be a strong bullish signal for the markets. On the fundamental aspect, the existing home sales data came out as analysts expected and today the investors will focus on the new home sales data.
EUR/GBP
All of the major pairs resumed weakening against the USD yesterday due to the ...
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USD Moves Up vs. JPY Following Japanese Credit Downgrade
The JPY took losses against the US dollar during European trading yesterday, following a downgrade of Japan's credit rating. The USD/JPY advanced close to 60 pips over the course of the day, eventually peaking at 79.93. Today, dollar traders will want to pay attention to US New Home Sales figure, set to be released at 14:00 GMT. Analysts are forecasting the figure to show improvements in the US real estate sector, which if true, could help the greenback extend yesterday's gains. In addition to the news out of the US, traders will want to pay attention to any announcements out of the euro-zone. An informal meeting of euro-zone leaders is set to conclude today. Any signs of a new strategy to combat the region's debt crisis could lead to market volatility.
Economic News
USD - Dollar Sees ...
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Technical analysis of the GBP/USD pair on May 23th, 2012
Commentary of the GBP/USD pair :
The pair GBP/USD has failed to break the resistance at 1.5823 and took up its bearish movement.
Currently, the pair is testing the support at 1.5750.
All indicators are bearish.
We continue to advise short positions as far as 1.5850 is resistance.
The breakout of 1.5750 will give a new sell signal and open the week towards 1.57 and 1.5650.
In case of return above 1.5850, we will be neutral between this level and 1.5950.
The breakout of 1.5950 will give a buy signal.
See the previous analysis of the GBP/USD pair of May 22th, 2012
GBP/USD Analysis
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Technical analysis of the NZD/USD pair on May 23th, 2012
Commentary of the NZD/USD pair :
The pair NZD/USD made yesterday a pullback on the resistance at 0.7665 and then took up its bearish movement.
The breakout of 0.7550 gave us a new sell signal.
All indicators are bullish.
The pair continues to move below its bearish slant (purple line).
We continue to advise short positions as far as 0.7665 is resistance.
The breakout of 0.75 will give a new sell signal and open the way towards 0.7450.
In case of return above 0.7665, we will be neutral between this level and 0.77.
The breakout of 0.77 will give a buy signal.
See the previous analysis of the NZD/USD pair of May 22th, 2012
NZD/USD Analysis
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SunBirdFX Daily Market Analysis : 05/22/2012
www.sunbirdfx.com
Wall Street opened the trading week with the expected short-squeeze that launched NASDAQ 2.4%, mainly because of Apple. The short-positions holders decided to realize their investments and take profits, as the buyers took advantage of that for gaining profits by opening long positions. This momentum might continue in the next few days, and in this point, it is important to remember that the previous bearish session ended with a sharp bullish day, and this might be the signal for this possible turnover. However, it is too soon to know whether the stocks have stopped falling or not and we need to wait few more days.
AUD/USD
The recovery of the US stock markets weakened the USD against most of the currencies, which might start a correcting session against the USD. The ...
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EUR Resumes Bearish Trend
After steadily gaining on the dollar and yen yesterday in overnight trading, the euro once again turned bearish during the European session. Renewed concerns regarding the political situation in Greece triggered the bearish correction. Still, the common currency was able to avoid dropping to the four-month low hit last week. Turning to today, traders will want to pay attention to a batch of British and US economic indicators. Both the British CPI and Public Sector Net Borrowing figures are forecasted to come in well below last month's figures. If true, the GBP could take losses during mid-day trading. Later in the day, analysts are predicting that the US Existing Home Sales figure will show improvements in the American Real Estate sector. If true, the dollar could move up as a result.
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SunBirdFX Daily Market Analysis : 05/21/2012
www.sunbirdfx.com
The bearish momentum in Wall Street continued last week as indices shed 4%-5% during the week. The sharp declines were expected from the technical analysis point of view, since the main indices broke significant support in their daily charts, which we have analyzed and marked as key levels. The S&P 500 broke the support at 1350 points and reached the target we set at 1300 points, mainly because of the collapse of the financial sector. The volumes are increasing, which means that the sellers are gaining power, in spite improving economic data and the optimism that spread with Facebook trading on Friday. The three main indices are close to the annual opening levels as NASDAQ's next support is at 2400 points.
EUR/USD
We have been mentioning the support at 1.30 as a ...
Title:
Facebook IPO Fails to Make a Dent in the Marketplace
Following weeks of speculation regarding how Facebook's debut on the New York Stock Exchange would turn out, investors were mildly disappointed with the social media site's performance on Friday night. Facebook closed out the week at 37.96, slightly below its opening price. What direction Facebook takes from here is a hotly debated topic among market analysts. Some are warning that the site may be overvalued already, and Friday's disappointing performance could be a sign of things to come. That being said, any moves by Facebook to expand its already massive subscribership could generate excitement in the marketplace which could help boost the value of this site.
Economic News
USD - Dollar Comes off 4-Month High vs. Euro
The US dollar turned bearish against most of its main currency ...
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Technical analysis of the NZD/USD pair on May 21th, 2012
Commentary of the NZD/USD pair :
The pair NZD/USD has opened on a small bullish gap but continues to move just above the support at 0.7550.
The pair is still moving below the lower band of its bearish channel (dotted purple lines).
The bearish movement seems to be lead by a bearish slant (purple line).
All indicators are bearish.
We continue to advise short positions as far as 0.77 is resistance.
The breakout of 0.7550 will give a new sell signal and open the way towards 0.75 and 0.7450
In case of return above 0.77, we will be neutral between this level and 0.78.
The breakout of 0.78 will give a buy signal.
See the previous analysis of the NZD/USD pair of May 18th, 2012
NZD/USD Analysis
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