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Break Out Of The BearishTitle:
Technical analysis of the GBP/JPY pair on July 21th, 2011
Commentary of the GBP/JPY pair :
The pair GBP/JPY made a new small correction but continue to move between 127 and 128.
We maintain to trade only short positions as far as 128 is resistance.
A return below 127 will comfort our bearish feeling.
The breakout of 126 will give a new sell signal and open the way towards 125.
However, if 128 is broken, we will be neutral between this level and 128.47.
See the previous analysis of the GBP/JPY pair of July 20th, 2011
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Technical analysis of the USD/CAD pair on July 21th, 2011
Commentary of the USD/CAD pair :
The pair USD/CAD continued its bearish movement and the break out of 0.95 gave us a new sell signal.
Currently, the pair is testing the next support at 0.9450.
We maintain to trade only short positions as far as 0.9537 is resistance.
The breakout of 0.95 will give a new sell signal and open the way towards 0.9450.
However, if 0.9537 is broken, we will be neutral between this level and 0.9608.
See the previous analysis of the USD/CAD pair of July 20th, 2011
Title:
Technical analysis of the USD/JPY pair on July 21th, 2011
Commentary of the USD/JPY pair :
The pair USD/JPY continued its bearish movement and is going to test the support at 78.50.
We maintain to trade only short positions as far as 79.24 is resistance.
The breakout of 78.50 will give a new sell signal and open the way towards 78.
However, if 79.24 is broken, we will be neutral between this level and 79.55.
See the previous analysis of the USD/JPY pair of July 20th,, 2011
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Forex - One-Day and Counting Till the EU Summit
Forex News and Events:
Risk appetite came back marginally in Asian session, giving EUR and equity indices a boost. EURUSD traded up to 1.4200, while the Nikkei rose 1.17%. The rally in sentiment has been equated to President Obama's praising the Gang of Six Senate proposal that could potentially resolve the issues around the debt ceiling. The proposal aims to raise the debt ceiling by $2.4trn, while reducing $3.7trn in deficits 2021. In theory this would cut the Debt-to-GDP ratio to 70%, although the required spending cuts and tax increases have yet to be determined.
That said, the Shanghai composite, our “canary in the coal mine”, was lower by 0.10%. Clearly the markets liked the progress in removing the uncertainly around this issue. However, we suspect that the feel good atmosphere ...
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The dollar recovers some ground
FUNDAMENTAL OUTLOOK at 0800 GMT (EDT +0400)
USD
The dollar recovered some ground against the Swiss franc and the yen on a combination of healthy US data, better corporate earnings and potential progress on the debt ceiling. President Obama warmed to the “Gang of Six” deficit reduction plan and senior lawmakers in the Senate intimated that the measure could pass with relative ease. However, the House is a much tougher proposition and it remains to be seen whether comprehensive legislation can be passed and signed into law before the Aug. 2 deadline. In another sign of the potential consequences of failure to achieve a deal, Moody’s warned that five states could also lose their AAA rating due to their reliance on federal revenue. In the Eurozone, Reuters reported that French President ...
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SunBirdFX Daily Market Analysis : 20/07/2011
www.sunbirdfx.com
The result season is leading the US stock markets back to their annual highs. As we estimated, the recent declines turned upside down when important firm released its surprising reports, and IBM was the company who did it. The strong support of the S&P 500 at 1300 points is still holding on, and the continuation of the current momentum can take the large blend to the next resistance at 1350 points. NASDAQ is approaching the annual picks at 2400 points.
EUR/USD
The hammer-doji candlestick that appeared on Monday, suggested incoming correction in the EUR, which eventually came. The Euro was supported by Wall Street risings, though it showed slight weakness on the end of the day. A continuation of Wall Street strikes should lift the EUR, though the European crisis still ...
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US Housing Stability Helps Wall Street Pare Losses
Recent losses on Wall Street were mostly offset yesterday as investors sought out riskier assets from positive data on the American housing market. Optimistic earnings reports from large companies like IBM have also helped turn several larger investors into a risk-seeking posture in this week's marketplace. Should today's housing report out of the American economy prove positive, this sentiment could continue, driving the value of the US dollar (USD) lower while the EUR makes gains.
Economic News
USD - USD Weakly Bearish as Stocks Climb
The US dollar was seen trading with mildly bearish results at the start of Wednesday's trading sessions as traders began to view the improved housing sector a sign of positive growth in capital markets and stabilization, albeit weakly, on Wall Street. ...
Title:
Technical analysis of the EUR/GBP pair on July 20th, 2011
Commentary of the EUR/GBP pair:
The pair EUR/GBP is currently testing 0.88 as resistance.
Indicators are now globaly mitigated.
We maintain to trade only short positions as far as 0.88 is resistance.
A return below 0.8750 will comfort our bearish feeling.
The breakout of 0.87 will give a new sell signal and open the way towards 0.8650.
In case of return above 0.88, we will wait the return above 0.8850 to advise long positions.
See the previous analysis of the EUR/GBP pair of July 19th, 2011
Title:
Technical analysis of the EUR/JPY pair on July 20th, 2011
Commentary of the EUR/JPY pair :
The pair EUR/JPY is currently rebounding towards its bearish slant as resistance.
The pair is currently testing 112.
Indicators stay globaly bearish.
We maintain to trade only short positions as far as 113 is resistance.
The breakout of 111 will give a new sell signal and open the way towards 110.
In case of return above 113, we will wait the breakout of 114 to advise long positions.
See the previous analysis of the EUR/JPY pair of July 19th, 2011
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