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BullishTitle:
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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RTFX Daily Forex Market comments : 05/16/2012
EUR – USD
Market should not go lower than 1.2670. After this move down it should go up to 1.2825 area.
USD – CHF
Uptrend is still intact in a triangle configuration. It should continue to rally to 0.9479 or 0.9473 if support around 0.9403 hold. After which a pullback to 0.9403 - 0.9385 zone is possible.
GBP – USD
Market should not go lower than 1.5992 - 1.5951. After this move down it should go up to 1.6054 - 1.6076 area.
USD – JPY
Current rise seems to be over near 80.26 or 80.41 for a retracement towards 80.11 - 80.00 area.
USD – CAD
It should try higher up to 1.0073 - 1.0100. Entry point 1.0045 or 1.0031. After this rise, a correction is expected.
NZD – USD
Market should not go lower than 0.7641. After this move down it should go up to 0.7766 area.
AUD ...
Title:
Gold hits new low on Greece turmoil
Gold extended losses on Wednesday to slip to its weakest level since late December after efforts to form a new government in Greece collapsed, prompting investors to cut their exposure to the precious metal.
Bullion has this year been moving in tandem with assets that are perceived to be risky, casting off its status as a safe-haven in times of economic instability.
Concerns about upheaval in the euro zone hit the euro and sent share prices lower across Asia as Greek political leaders meet Wednesday to form a caretaker government that will lead the country into its second election in just over a month.
U.S. June gold futures, which often dictate spot gold, dropped more than 1 percent to a low of $1,532.7 an ounce, their lowest since December 29. Cash gold was also at a 4-1/2 month low.
...
Title:
Dukascopy Afternoon Forex Overview : 05/15/2012
Dukascopy Fundamental Analysis
EUR
Investors battered European stocks, dumped the bonds of Spain and Italy, and bid the euro down against the dollar Monday after the collapse of weekend coalition talks in Greece edged that country closer to an exit from the euro zone.
USD
Retail sales in the U.S. rose in April at the slowest pace of the year, showing unseasonably mild weather and pre-Easter shopping may have pulled consumers to stores the prior month.
GBP
Governor Mervyn King looks set to leave the door open to more support for the struggling economy when he presents the Bank of England's new economic outlook on Wednesday, which is likely to show a tricky mix of lower growth and higher inflation ahead.
CHF
Swiss stocks lost ground on Monday on concern Greece will exit the Eurozone.
...
Title:
Euro still mixed despite upbeat growth data from the euro zone
Several factors are affecting the high yielding euro right now, where with the heavy load of fundamentals and events the euro is not able to define the intraday trend so far. Meanwhile, the sentiment is still mixed as Greeks still cannot reach an agreement regarding the creation of a government, while Moody`s downgraded 26 Italian banks, yet positivity remains stronger as the euro-region didn’t slip into recession after posting steady GDP figures.
Fears and tension eased in the market after growth data from Germany, France, Italy and finally the euro-area region, where GDP figures have beaten estimates in Germany and the euro zone, Stalled in France, yet missed estimates in Italy; however, the sentiment remained positive as the euro-area region skipped another phase of recession temporary. ...
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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