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Bearish Signal For The PairTitle:
Dukascopy Afternoon Forex Overview : 23/05/2012
Fundamental Analysis
EUR
German bunds rose on worries that European leaders will struggle to resolve the euro zone debt crisis during tonight's European summit. David Schnautz of Commerzbank AG in London thinks that Europe is unlikely to solve key topics and will probably disappoint the market. The 5-year bund lost 5 bp to 0.47 percent at 10:49 GMT after tumbling to 0.461 percent, the lowest since 1990, when Bloomberg began gathering data.
USD
Crude oil futures declined in Asian session on Wednesday as Iran is ready to invite nuclear inspectors, the move that may ease oil import sanctions. Light, sweet crude oil futures for July delivery traded at 91.27 US Dollars per barrel, retreating by 0.63% from the last session's high of 91.72 US Dollars per barrel.
GBP
Today the minutes of the ...
Title:
Dukascopy Morning Forex Overview : 23/05/2012
Fundamental Analysis
EUR
"The rally is mostly technically driven after we became quite oversold last week."
- Raimund Saxinger, a fund manager at Trust Investment GmbH
European stocks rose by the most in a month on Tuesday. The Stoxx Europe 600 Index gained 1.91 per cent to 244.76. Germany’s DAX Index edged higher 1.65 per cent and France’s CAC 40 Index added 1.88 per cent. The U.K.’s FTSE 100 Index rose 1.86 per cent to 5,403.28
USD
"People are becoming more confident about job prospects and about taking on mortgages."
- Millan Mulraine, a senior U.S. strategist at TD Securities Inc.
U.S. existing home sales rose in April to an annual rate of 4.62 million from 4.47 million in March, said the National Association of Realtors.
GBP
"These figures give the Monetary Policy Committee ...
Title:
Technical analysis of the XAU/USD (Gold) pair on May 23th, 2012
Commentary of the XAU/USD (Gold) pair:
The pair XAU/USD has validated yesterday a return below 1580 points, offering a sell signal and is currently testing the next support at 1560 points.
The pair is moving below the lower band of its bearish channel (purple lines).
All indicators are bearish.
We continue to advise short positions as far as 1580 is resistance.
The breakout of 1560 will give a new sell signal and open the way towards 1540 points.
In case of return above 1580 points, we will wait the breakout of 1600 to advise long positions.
See the previous analysis of the XAU/USD pair of May 22th, 2012
XAU/USD Analysis
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Technical analysis of the AUD/USD parity on May 23th, 2012
Commentary of the AUD/USD parity:
The pair AUD/USD has faked yesterday a return above 0.99 and then felt and broke the support at 0.98, offering a new sell signal.
The pair is moving below the lower band of its bearish channel (purple lines).
All indicators are bearish.
We continue to advise short positions as far as 0.99 is resistance.
The breakout of 0.9750 will give a new sell signal and open the way towards 0.97.
In case of return above 0.99, we will wait the breakout of 1.0 to advise long positons.
See the previous analysis of the AUD/USD parity of May 22th, 2012
AUD/USD Analysis
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Technical analysis of the EUR/CHF pair on May 23th, 2012
Commentary of the EUR/CHF pair:
The pair EUR/CHF continues to move below the minor resistance at 1.2030 without volatility.
All indicators are neutral.
The pair seems to move below a bearish slant (purple line).
We continue to advise short positions as far as 1.2030 is resistance.
The breakout of 1.2010 will give a new sell signal and open the way towards 1.20.
In case of return below 1.2030, we will wait the breakout of 1.2050 to advise long positions.
See the previous analysis of the EUR/CHF pair of May 22th, 2012
EUR/CHF Analysis
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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 ...
Title:
Technical analysis of the EUR/GBP pair on May 23th, 2012
Commentary of the EUR/GBP pair:
The pair EUR/GBP found resistance yesterday on 0.81 and just validated without strenght the support at 0.8050, offering a sell signal.
Indicators are mitigated.
The pair is still moving into a bearish channel (purple paralell lines).
We continue to advise short positions as far as 0.8075 is resistance.
The breakout of 0.8025 and 0.80 will both give a new sell siganl and open the way towards 0.7950.
In case of return above 0.8075, we will wait the breakout of 0.81 to advise long positions.
See the previous analysis of the EUR/GBP pair of May 22th, 2012
EUR/GBP Analysis
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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 ...
Title:
Technical analysis of the EUR/JPY pair on May 23th, 2012
Commentary of the EUR/JPY pair :
The pair EUR/JPY found resistance yesterday on 102 and then felt below the support at 101.
The pair is moving below the lower band of its bearish channel (purple lines).
All indicators are bearish.
We continue to advise short positions as far as 102 is resistance.
A return below 101 below will comfort our bearish feeling.
The breakout of 100.50 will give a new sell signal and open the way towards 100.
In case of return above 102, we will wait the breakout of 103 to advise long positions.
See the previous analysis of the EUR/JPY pair of May 22th, 2012
EUR/JPY Analysis
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