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Break Out Of The BearishTitle:
Technical analysis of the EUR/JPY pair on May 11th, 2012
Commentary of the EUR/JPY pair :
The pair continues to move into its bearish slant (purple line).
The pair has faked yesterday a return above 103.50 and is currently testing again the support at 103.
All indicators are bearish.
We continue to advise short positions as far as 104 is resistance.
The breakout of 103 will give a new sell signal and open the way towards 102.
In case of return above 104, we will wait the breakout of 104.50 to advise long positions.
See the previous analysis of the EUR/JPY pair of May 10th, 2012
EUR/JPY Analysis
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Technical analysis of the EUR/USD pair on May 11th, 2012
Commentary of the EUR/USD pair :
The pair EUR/USD made a pullback yesterday on the lower band of its bearish channel (purple lines).
The pair has validated the breakout of 1.2950 and is currently testing the next support at 1.29.
All indicators are bearish.
We continue to advise short positons as far as 1.3050 is resistance.
The breakout of 1.29 and 1.2850 will both give a new sell signal.
In case of return above 1.3050, we will wait the breakout of 1.31 to advise long positions.
See the previous analysis of the EUR/USD pair of May 10th, 2012
EUR/USD Analysis
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Technical analysis of the NZD/USD pair on May 11th, 2012
Commentary of the NZD/USD pair :
The pair NZD/USD is again testing the support at 0.7838.
All indicators are bearish.
The pair is moving into its former bearish channel (purple lines).
We continue to advise short positions as far as 0.7950 is resistance.
The breakout of 0.7838 will give a new sell signal and open the way towards 0.78 and 0.7754.
In case of return above 0.7950, we will be neutral between this level and 0.80.
See the previous analysis of the NZD/USD pair of May 10th, 2012
NZD/USD Analysis
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Technical analysis of the USD/JPY pair on May 11th, 2012
Commentary of the USD/JPY pair :
The pair USD/JPY has rebounded yesterday on the support at 76.64 and made a pullback on 80 and also on the upper band of its bearish channel (who have been modified).
All indicators are bearish.
We continue to advise short positions as far as 80.41 is resistance.
The breakout of 79.64 will give a new sell signal and open the way towards 79.
In case of return above 80.41, a buy signal will be given.
See the previous analysis of the USD/JPY pair of May 10th, 2012
USD/JPY Analysis
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All Eyes on BoE
Forex News and Events:
Bank of England stands to make a crucial decision today as turmoil hinders most of its peer Euro Zone economies. UK’s GDP contracted in the last quarter of 2011 by a revised 0.3%, and inflation remained higher than the 2% average target set by the BoE. During the last weeks, economic data in services and manufacturing were mainly affected by rising petroleum prices and austerity budget cuts biting deep into consumer / household spending. But MPC member Adam Posen, hitherto a fervent supporter of QE stated: “My own personal view is that I think the economy is stronger than what data is going to show”. The central bank last increased its asset purchase program target by 18% in February to GBP325bn as the money supply gauge M4 dipped heavily, suggesting a tightening of ...
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Dukascopy Morning Forex Overview : 10/05/2012
Fundamental Analysis
EUR
"The real concern isn’t about Greece, it’s about the euro and whether it breaks up -- that is key."
- Mark Tinker, a fund manager at AXA Framlington Investment EUR Management
European stocks declined on Wednesday as investors awaited resolution of Greek coalition talks and yields on Spanish 10-year bonds rose above 6 per cent.
USD
"Certainly as a result of the elections in Greece, the odds of a default and an exit from the euro have increased."
- James Dunigan, chief investment officer for PNC Wealth Management
U.S. wholesale inventories rose in March at a slowest pace since November, Commerce Department data showed on Wednesday.
GBP
"Consumers, struggling to balance their household budgets, remain reluctant to spend..."
- Stephen Robertson, BRC director ...
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SunBirdFX Daily Market Analysis : 05/10/2012
www.sunbirdfx.com
The battle between the sellers and the buyers in Wall Street continued yesterday, as the indices closed on the red territory but made bull candlesticks on the daily chart. The volumes in the US stock markets are higher than average these days, which indicate for the tension among the traders. It looks like the indices are ready for the bullish correction, but the threat of another bearish session still exists.
GBP/USD
We keep mentioning that the pound is a strong currency that suffered from Wall Street weakening otherwise it would probably trade around 1.65 today. The pair made an accurate retest to the break-up level at 1.65, slide under it, and know it has to overcome this obstacle one more time in order to continue rising. Yesterday's candlestick was a long-tail ...
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Greece and European issues still in focus; BoE to announce its monetary policy
Forex Morning Briefing : Greece and European issues still in focus; BoE to announce its monetary policy
What’s new:
Equity: Asian and US equities down on Greek political instability
Spain: Government to nationalize Bankia
Forex: AUD/USD pares yesterday’s losses on stronger unemployment rate
Forex: EUR/USD breaks the 1.2950 support, investors remain bearish
Rates in Asia and Indices:
EUR/USD 1.2925 1.2964 0.21 %
USD/CHF 0.9266 0.9293 0.21 %
GBP/USD 1.6123 1.6151 0.05 %
USD/JPY 79.61 79.77 -0.05 %
EUR/CHF 1.2009 1.20131 -0.01 %
EUR/JPY 102.91 103.36 -0.26 %
Dow Jones 12748.48 12921.81 -0.75 %
Nasdaq 2588.97 2635.71 -0.32 %
S&P 500 1343.13 1363.73 -0.67 %
Nikkei 225 8985.9 9075.63 - ...
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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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