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Break Out Of This LevelTitle:
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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Technical analysis of the USD/CAD pair on May 23th, 2012
Commentary of the USD/CAD pair :
The pair USD/CAD made yesterday a pullback on the support at 1.0150 and then took up its bullish movement to test again the resistance at 1.0230.
All indicators are bullish.
The pair is currently testing the upper band of its bullish channel (black lines).
We continue to advise long positions as far as 1.01 is support.
The breakout of 1.0230 will give a new buy signal and will open the way towards 1.03.
In case of return below 1.01, we will be neutral between this level and 1.0050.
The breakout of 1.0050 will give a sell signal.
See the previous analysis of the USD/CAD pair of May 22th, 2012
USD/CAD Analysis
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Technical analysis of the USD/CHF pair on May 23th, 2012
Commentary of the USD/CHF pair :
The pair USD/CHF took up yesterday its bullish movement and the return above 0.94 gave us a new buy signal.
Currently, the pair is testing the resistance at 0.95 for the second time and is also testing its former bullish slant as resistance.
All indicators are bullish.
We continue to advise long positions as far as 0.94 is support.
The breakout of 0.95 will give a new buy signal and open the way towards 0.9550.
In case of return below 0.94, we will again be neutral between this level and 0.9350.
See the previous analysis of the USD/CHF pair of May 22th, 2012
USD/CHF Analysis
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Cautious markets retreat before EU summit
(Reuters) - Riskier assets retreated broadly on Wednesday as hopes for fresh measures to tackle the euro zone debt crisis faded and caution set in ahead of a meeting of European leaders, with sentiment hurt by renewed fears Greece would leave the euro bloc.
European shares also looked likely to slump, with financial spreadbetters predicting major European markets .FTSE .FCHI .GDAXI would open as much as 1.5 percent lower. U.S. stock futures were down 0.5 percent. .EU .L .N
Shares, commodities, commodity-linked currencies and the euro all slid, while safe-haven demand lifted the dollar index .DXY measured against major currencies up to 81.830, its highest since September 2010.
MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS slumped 2.0 percent. It had risen 1.1 ...
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Gold down almost 1.5 percent as selling snowballs
(Reuters) - Gold traded near intraday lows on Tuesday afternoon with selling accelerating on low volumes as the euro lost further ground ahead of a much-anticipated European summit.
The pressure started on Monday after bullion failed to break through key resistance at $1,600 per ounce, sending prices below near-term technical support levels.
That selling snowballed on Tuesday afternoon in New York, sending prices below $1,570 an ounce as the euro weakened with investors betting Wednesday's meeting of European leaders would do little to tackle the region's debt crisis.
"The euro continued to sag. It's not going to make a decisive move until the EU summit," said James Steel, chief commodity analyst at HSBC.
Weaker oil prices on news of a potential deal between Iran and the U.N. nuclear ...
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Gold still down, weaker euro blamed
(Reuters) - Gold remained under pressure trading below a near-term technical support level on Tuesday due to a weaker euro, with investors betting against a meeting of European leaders this week doing much to tackle the region's debt crisis.
Platinum tracked gold lower, shrugging off news of a fresh production outage in South Africa.
The euro remained clear of last week's four-month lows but was stuck in negative territory against the dollar as worries about Greek politics and Spanish banking problems kept the currency under pressure.
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Euro slides vs. dollar as EU summit hopes wane
(Reuters) - The euro fell against the dollar on Tuesday after two days of gains as investors pared back expectations that an informal meeting of European leaders this week would yield much progress in tackling the region's debt crisis.
However, given the market's stretched bearish positioning and oversold signals on the technical charts, the euro could see a short-term squeeze higher ahead of the European summit.
The yen, meanwhile, tumbled after Fitch downgraded Japan's ratings and although the currency posted the biggest loss versus the dollar, investors remained focused on the euro.
While there have been hopes in some quarters that Wednesday's summit may lead to agreement on measures to boost euro zone growth, investors were not confident of a breakthrough given apparent differences ...
Title:
Euro falls vs. dollar as EU summit hopes dim
(Reuters) - The euro fell against the dollar on Tuesday after two days of gains as investors pared back expectations that an informal meeting of European leaders would yield much progress in tackling the region's debt crisis.
However, given the market's stretched bearish positioning and oversold signals on the technical charts, the euro could see a short-term squeeze higher ahead of the European summit.
While there have been hopes in some quarters that Wednesday's summit may lead to agreement on measures to boost growth, investors were not confident of a breakthrough given apparent differences in opinion between Germany and France.
French President Francois Hollande is expected to push for a joint euro zone bond, a measure backed by Italy, Spain and the European Commission.
However ...
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