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Technical analysis of the EUR/CHF pair on May 26th, 2011
Commentary of the EUR/CHF pair:
The pair EUR/CHF continues to move below its bearish slant.
The pair just found support on 1.23 (new historical lowest) and is currently trying a pullback on 1.2350 and 1.24 as resistance.
All indicators are bearish.
We maintain to trade only short positions as far as 1.24 is resistance.
The breakout of 1.23 will give a new sell signal and open the way towards new lowest.
In case of return above 1.24, we will then advise to wait a breakout of 1.25 to trade long positions.
See the previous analysis of the EUR/CHF pair of May 25th, 2011
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Return to the “Risk-On” Trade in Asia Boosts the NZD and Commodities
In Asian trading the dollar block currencies and commodities were noticeably higher with Asian bourses climbing, signaling a potential rebound in the “risk-on” trade.
Economic News
USD - Dollar Mixed After Durable Goods Report
The greenback was mixed yesterday following weaker than expected core durable goods orders, -1.5% on consensus expectations of a gain of 0.7%. The March output was revised higher to 2.5% from a previous 1.3%. Initially the report fed into a bout of USD buying but the negative tone dissipated with the euro eventually reaching 1.4117 before closing back at 1.4081. Earlier in the day the EUR/USD dipped to its daily low at 1.4013 following disappointing German consumer numbers. Interestingly enough, yesterday's low coincides with the neck line of a potential head ...
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Windsor Brokers - Short Term Technical Analysis for Majors (13:30 GMT)
EUR/USD
Near-term price action was capped just under 1.4100 level, maintaining negative tone from 1.4135, yesterday’s high. Immediate focus is on 1.4014/00, then 1.3985, daily 100 day MA and 1.3968, previous low, loss of which to trigger fresh weakness towards strong support at 1.3904, Fib 50% retracement of 1.2872/1.4938 upleg. On the upside, regain of 1.4100/35 is required to improve near-term structure and open 1.4200/30 for test.
Res: 1.4093, 1.4106, 1.4132, 1.4200
Sup: 1.4014, 1.4000, 1.3968, 1.3904
http://mediaserver.fxstreet.com/Reports/325f5b3f-7a7d-4768-8193-afec3573778f/eurusd_20110525134527.gif
GBP/USD
Eases the near-term bear pressure after holding above main trendline support at 1.6140, after fresh strength regained 1.6200 and extended gains to 1.6257 so far. Overbought ...
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Sterling and Spot Silver Make Gains
A drop off in risk overnight fueled by rumors of a crack election in Greece faded as the day went on but the euro continues to trade lower. Sterling was bid this morning as was spot silver with markets awaiting the release of US core durable goods orders.
The euro was lower overnight following the election rumor and a reduced US GDP forecast by JP Morgan, but the EUR/USD recapped most of the losses during the London trading session. German consumer numbers came in below expectations and the EUR/USD dipped to its daily low at 1.4013 before recovering to 1.4080. Interestingly enough, today's low coincides with the neck line of a potential head and shoulders pattern, a long term chart reversal pattern. In the near term, a break of the 1.3970 level could spur declines to the 1.3910 where ...
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Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
Near-term tone came under pressure again after recovery attempt from fresh low at 1.3968 stalled at 1.4135 resistance. Break below 1.4100 handle opened fresh losses towards 1.4000, psychological support and 1.3968, loss of which would signal fresh phase lower of the broader downtrend from 1.4938. Significant support comes at 1.3904, Fib 50% retracement of 1.2872/1.4938 upleg, ahead of 1.3850 zone, mid-March lows. On the upside, 20 day MA on 4-hour chart, currently at 1.4107, maintains near-term bears, while trendline off 1.4938, currently at 1.4190, limits the upside for now.
Res: 1.4132, 1.4200, 1.4230, 1.4259
Sup: 1.4000, 1.3968, 1.3904, 1.3850
http://mediaserver.fxstreet.com/Reports/325f5b3f-7a7d-4768-8193-afec3573778f/eurusd_20110525072009.gif
GBP/USD
Maintains short-term ...
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Dollar and Yen Retreat as Rick Appetite Returns
A rebound in risk appetite spurred by stronger US economic data helped to weaken the safe haven currencies of the US dollar and the yen. The dollar block currencies recovered off of previous lows following Monday's flair up of the Greek debt crisis and weak Chinese economic data.
Economic News
USD - US Housing Numbers Helps Risk Recovery
The dollar weakened following the release of better than expected US new home sales. The April numbers showed an increase of 7.3% m/m to 323K from the March numbers which were revised higher to an 8.3% increase to 301K. The number of homes available on the market dropped to its lowest level in one year.
On the back of the stronger US data the dollar weakened yesterday versus the euro and the dollar block currencies. The EUR/USD climbed as high as 1. ...
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Dukascopy Morning Forex Overview : 25/05/2011
Previous session overview
The risk-sensitive euro declined against the dollar and the yen on profit-taking Wednesday, prompted by market talk about Greece-related debt problems, weaker Asian equities, and a report of possibly large liabilities among big U.S. banks for alleged improper foreclosure practices.
Meanwhile, the Wall Street Journal reported that U.S. state attorneys general told the nation's five largest banks Tuesday they face potential liabilities of at least USD17 billion in civil lawsuits if a settlement isn't reached to address improper foreclosure practices.
The Federal Reserve Bank of Richmond reported Tuesday that economic activity among manufacturers in the central Atlantic region is contracting this month after seven months of expansion.
The euro's fall Wednesday ...
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Technical analysis of the USD/CAD pair on May 25th, 2011
Commentary of the USD/CAD pair :
The pair USD/CAD continues its bullish movement and is currently testing a breakout of the resistance at 0.88. We maintain to trade only long positions as far as 0.9765 is support. The breakout of 0.98 will give a new buy signal and open the way towards 0.9850. However, if 0.9765 is broken, we will be neutral.
See the previous analysis of the USD/CAD pair of May 24th, 2011
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Technical analysis of the USD/JPY pair on May 25th, 2011
Commentary of the USD/JPY pair :
The pair USD/JPY continues to move between 81.50 and 82.03 (level 38.20%). The pair just tested the resistance at 82.03. We maintain to trade only long positions as far as 81.50 is support. The breakout of 82.03 (level 38.20%) will give a new buy signal and open the way towards 82.66. However, if 81.50 is broken, we will be neutral between this level and 80.95 (level 50%).
See the previous analysis of the USD/JPY pair of May 24th, 2011
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