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SunBirdFX Daily Market Analysis : 05/23/2012
www.sunbirdfx.com
Dramatic finishing in the US stock markets yesterday caused mixed closing by the main indices. The trading was on the green side most of the day but massive selling during the last half hour erased most of the bullish movement, but strong 10 minutes before the closing bell prevented sharper declines. The indices are now facing important test and if they slide under yesterday's low, the sharp declines from last week might return. On the other hand, if they cross above yesterday's high, it will be a strong bullish signal for the markets. On the fundamental aspect, the existing home sales data came out as analysts expected and today the investors will focus on the new home sales data.
EUR/GBP
All of the major pairs resumed weakening against the USD yesterday due to the ...
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SunBirdFX Daily Market Analysis : 05/22/2012
www.sunbirdfx.com
Wall Street opened the trading week with the expected short-squeeze that launched NASDAQ 2.4%, mainly because of Apple. The short-positions holders decided to realize their investments and take profits, as the buyers took advantage of that for gaining profits by opening long positions. This momentum might continue in the next few days, and in this point, it is important to remember that the previous bearish session ended with a sharp bullish day, and this might be the signal for this possible turnover. However, it is too soon to know whether the stocks have stopped falling or not and we need to wait few more days.
AUD/USD
The recovery of the US stock markets weakened the USD against most of the currencies, which might start a correcting session against the USD. The ...
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SunBirdFX Daily Market Analysis : 05/21/2012
www.sunbirdfx.com
The bearish momentum in Wall Street continued last week as indices shed 4%-5% during the week. The sharp declines were expected from the technical analysis point of view, since the main indices broke significant support in their daily charts, which we have analyzed and marked as key levels. The S&P 500 broke the support at 1350 points and reached the target we set at 1300 points, mainly because of the collapse of the financial sector. The volumes are increasing, which means that the sellers are gaining power, in spite improving economic data and the optimism that spread with Facebook trading on Friday. The three main indices are close to the annual opening levels as NASDAQ's next support is at 2400 points.
EUR/USD
We have been mentioning the support at 1.30 as a ...
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SunBirdFX Daily Market Analysis : 05/18/2012
www.sunbirdfx.com
The US stock markets keep falling as NASDAQ shed 2.1% yesterday and Dow is close to erase everything it gained since the beginning of the year. The investors will focus on Facebook, which will start trading today for the first time.
GBP/USD
The collapse of the stocks makes the investors to move their investments to the USD, as many believe that the American economy is the more stable than the European economies. Therefore, the USD is strengthening against most of the major currencies, which fall sharply because of that. The pound reached the target we set for the current bearish session at 1.58 and stochastic low levels indicate for a possible correction that might hit 1.59. Nevertheless, if the stocks continue falling, we will probably see additional break-down by the ...
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SunBirdFX Daily Market Analysis : 05/17/2012
www.sunbirdfx.com
The US stock markets opened yesterday's trading session with a strong push by the bulls but the concerns regarding Greece pulled the markets to the red zone eventually. The main indices erased 40%-50% of what they gained from the beginning of the year, and things are looking more and more bearish as the days pass by.
AUD/JPY
The Australian dollar keeps falling against the USD and it slid under the psychological support at 1.0. The weakening of the stocks supports the USD and that is why we see it strengthening against most of the major currencies, including the JPY, which is a strong currency these days. The Yen is clearly stronger than the AUD, as it well shown in the daily chart of the pair, which is getting support at 79.50. If the AUD crosses above the 2-days ...
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SunBirdFX Daily Market Analysis : 05/16/2012
www.sunbirdfx.com
Another day of uncertainty went through Wall Street, as the investors were disappointed by the core retail sales, but encouraged by the Empire State Manufacturing Index. Today they will focus on the FOMC meeting minutes and building permits, as bad news might cause sharper declines. We keep seeing bullish reversals during the trading session, which means that there are buyers who want to take advantage of the recent declines, which might cause a bullish reversal eventually. However, it seems that a break-down of the current week's low will make everybody believe that a downtrend movement has begun.
USD/JPY
The USD reached the support at 79.50 against the JPY, which was a former break-up area. The Yen has failed to break-down this support for several days and ...
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SunBirdFX Daily Market Analysis : 05/15/2012
www.sunbirdfx.com
The bearish momentum from last week continued to the first day of the trading week in Wall Street, as the indices shed 1.0%, NASDQ is close to break-down the recent low from the beginning of April, as Dow and S&P already did. The break-down of the previous week's low might indicate for an incoming bearish session of 5% down, but the investors might take this opportunity for shopping, so we might see the bullish reversal soon.
USD/CAD
The investors will focus on the retails sales in the US and the CPI, which expected to remain unchanged. However, as we keep mentioning, the movement of the stocks rather the fundamental data mainly influences the USD these days. Therefore, and since the stocks keep weakening, the USD is strengthening against the major currencies, ...
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SunBirdFX Daily Market Analysis : 05/14/2012
www.sunbirdfx.com
Wall Street closed a volatile trading week with declines of 1.0% in weekly summary, in spite of improving consumer sentiment data. The bearish momentum spread among the traders after JP Morgan declared a loss of 2 billion dollars and its downgrade by the ranking agency Fitch.
On the technical aspect, the indices made retests to the break-down level in each index' daily chart. The S&P broke the important support at 1360 points but corrected up after reaching 1340 points, and the sellers showed up at 1360 several time during the week. Therefore, if the index successfully breaks-through this resistance, it might jump above 1380 points. However, if the bearish momentum continues, the large blend might break-down the recent low at 1340 point and slide towards 1300 points.
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SunBirdFX Daily Market Analysis : 05/11/2012
www.sunbirdfx.com
Wall Street a cloturé sur une tendance mixte, et la plupart de la session de trading s’est passée en territoire positif. Cela est dû au transfert partiel de l'aide économique à la Grèce et à la lumière des données économiques positives qui ont été publié sur le marché de l’emploi aux États-Unis
Le président de la Réserve Fédérale américaine, Ben Bernanke, a critiqué la politique américaine de l'octroi de prêts bancaires à des entités différentes de l'économie et aussi pour des problèmes de liquidité des banques. Il a également déclaré que le système bancaire américain montre sa force et sa durabilité qui doivent être mentionnés. Les prix des importations américaines ont fortement chuté, et les demandes d’allocation chômage sont tombées à un nouveau plus bas.
AUD/USD
La ...
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