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BetweenTitle:
Technical analysis of the GBP/JPY pair on May 16th, 2012
Commentary of the GBP/JPY pair :
The pair GBP/JPY continues to move below the resistance at 128.86 and is using the upper band of its former falling wedge as support.
Indicators are mitigated.
We continue to advise short positions as far as 128.86 is resistance.
The breakout of 127.70 will give a new sell signal and open the way towards 126.70.
In case of return above 128.86, we will be neutral between this level and 129.50.
The breakout of 129.50 will give a new buy signal.
See the previous analysis of the GBP/JPY pair of May 15th, 2012
GBP/JPY Analysis
Title:
Technical analysis of the GBP/USD pair on May 16th, 2012
Commentary of the GBP/USD pair :
After a pullback on the resistance at 1.61, the pair GBP/USD took up its bearish movement and the breakout of 1.6050 and 1.60 both gave us a new sell signal.
The medium term bullish slant (black line) has been also broken.
All indicators are bearish.
We continue to advise short positions as far as 1.61 is resistance.
The breakout of 1.5950 will give a new sell signal and open the week towards 1.59.
In case of return above 1.61, we will be neutral between this level and 1.6150.
The breakout of 1.6150 will give a buy signal.
See the previous analysis of the GBP/USD pair of May 15th, 2012
GBP/USD Analysis
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Technical analysis of the NZD/USD pair on May 16th, 2012
Commentary of the NZD/USD pair :
The pair NZD/USD has continued its bearish movement and the breakout of 0.7750 and 0.77 both gave us a new sell signal.
Currently, 0.7668 seems to act as support.
This level match with the lower band of its bearish channel (purple lines).
The gap is still not filled in.
All indiactors are bullish.
We continue to advise short positions as far as 0.78 is resistance.
The breakout of 0.7668 will give a new sell signal and open the way towards 0.76.
In case of return above 0.78, we will be neutral between this level and 0.79.
See the previous analysis of the NZD/USD pair of May 15th, 2012
NZD/USD Analysis
Title:
Technical analysis of the USD/CAD pair on May 16th, 2012
Commentary of the USD/CAD pair :
The pair took support again on 0.9887 yesterday and then the pair USD/CAD finaly broke the resistance at 1.0050, giving us a new buy signal.
The pair is currently testing the next resistance at 1.01.
All indicators are bullish.
The pair seems to move into a bullish channel (black lines).
We continue to advise long positions as far as 1.0 is support.
The breakout of 1.01 will give a new buy signal and will open the way towards 1.0150.
In case of return below 1.0, we will be neutral between this level and 0.9950.
The breakout of 0.9950 will give a sell signal.
See the previous analysis of the USD/CAD pair of May 15th, 2012
USD/CAD Analysis
Title:
Technical analysis of the USD/CHF pair on May 16th, 2012
Commentary of the USD/CHF pair :
The pair USD/CHF has continued its bullish movement and the breakout of 0.94 gave us a new buy signal.
The opening gap is still not filled in.
All indicators are bullish.
We continue to advise long positons as far as 0.9350 is support.
The breakout of 0.9450 will give a new buy signal and open the way towards 0.95.
In case of return below 0.9350, we will be neutral between this level and 0.93.
See the previous analysis of the USD/CHF pair of May 15th, 2012
USD/CHF Analysis
Title:
Technical analysis of the USD/JPY pair on May 16th, 2012
Commentary of the USD/JPY pair :
After the pullback on the upper band of its former bearish channel (black lines), a bullish movement occured on the pair USD/JPY who is currently testing the resistance at 80.41.
All indicators are bullish.
We are neutral on the pair between 80.09 and 80.41.
We advise to wait an exit of this range to take position:
- Long above 80.41. The breakout of 80.76 will give a new buy signal
- Short below 80.09. The breakout of 79.64 will give a new sell signal.
See the previous analysis of the USD/JPY pair of May 15th, 2012
USD/JPY Analysis
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Oil drops $1 on U.S. stockbuild, Greece; WTI hits 6-month low
Oil fell more than $1 on Wednesday, with the U.S. benchmark dropping to a more than 6-month low, as a larger-than-expected rise in crude stocks in the United States and fears of Greece's exit from the euro zone muddied the outlook for demand growth.
Investors are worried about the demand for oil as a prolonged political crisis in Greece may push Europe into a deeper financial mess at a time when China is slowing and the U.S. economy remains fragile. Yet, limited spare capacity and fears of a supply disruption have put a floor under prices.
Brent crude slipped $1.39 to as low as $110.85 a barrel by 2:42 a.m. EDT, declining for four out of the past five sessions. U.S. oil fell $1.68 a barrel to $92.30 after earlier slipping to $92.13, the lowest since November 3.
"A further $2-$3 fall is ...
Title:
Germany: The Savior Of Europe?
Germany: The Savior Of Europe?
Germany: The Savior Of Europe?
It's official, the German economy is single handed propping up the Eurozone after its economy grew five times more than forecast in the first quarter. Growth expanded by 0.5% on the quarter, pushing the annual growth rate to 1.2%, which is fairly healthy considering how dire the growth outlook is elsewhere in the currency bloc. We know that some large German companies like BMW had their best ever quarter in the first three months of the year, thus there were signs that Germany could do better than expected. But what is surprising is that even though Italy contracted more than expected at 0.8% in the first quarter, the Eurozone managed to avoid a recession and registered flat growth overall between January and March.
Germany ...
Title:
Weak Outlook for Australia
Forex News and Events:
The S&P GSCI Index reversed its 2011 gains in the last six consecutive trading sessions. As a matter of fact, the index tracking 24 commodities broke down 7.6% from a high of 684.15 on April 30th to a more than four-month low low of 634.25 during yesterday’s trade session. This downturn in commodity prices can be explained on the one hand by headlines from the Euro area, as markets seem to be pricing in a second round of elections in Greece as well as a probable EU exit. On the other hand, the marked slowdown of commodity-intensive economies such as China -see Newsletter May 14- pushed prices lower in light of atrophied demand and lower infrastructure investments. From the foreign exchange perspective, the Australian dollar having experienced a 34% appreciation ...
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