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Continues To Move BetweenTitle:
EU Debt Crisis Continues to Fuel Risk Aversion
The euro-zone debt crisis continued to fuel risk aversion in the market place yesterday, as poor news briefly brought the EUR/USD pair below the 1.3100 level. The pair staged a recovery later in the European session, after it was revealed that Greek leaders had begun finalizing a debt swap deal. Today, traders will want to continue monitoring the euro-zone situation, especially as it is becoming clear that Portugal will soon need a bailout to avoid defaulting on its debt.
Economic News
USD - ...
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Technical analysis of the USD/JPY pair on February 7th, 2012
Commentary of the USD/JPY pair :
The pair USD/JPY continues to move on the resistance at 76.65.
All indicators are bullish.
We are neutral on the pair between 76.50 and 76.80.
We advise to wait an exit of this range to take position:
- Long if 76.80 is broken. The breakout of 76.96 will give a new buy signal
- Short in case of return below 76.50. The breakout of 76 will give a new sell signal.
See the previous analysis of the USD/JPY pair of February 6th, 2012
USD/JPY Analysis
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Positive Jobs Report Boosts USD
The USD saw gains across the board on Friday, following a significantly better than expected US Non-Farm Payrolls figure that helped boost confidence in the US economic recovery. Perhaps most significantly, the USD/JPY came off its recent three-month low. The news calmed fears that the Bank of Japan would soon intervene to limit yen growth. This week, Greece is likely to be back in the headlines as investors eagerly await news of a possible debt-swap deal. Any positive developments are likely ...
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Technical analysis of the USD/CAD pair on February 6th, 2012
Commentary of the USD/CAD pair :
After a pullback on the resistance at 1.0 on last friday, the pair USD/CAD continues its bearish movement into its bearish channel (purple lines).
All indicators are bearish.
The pair is still moving below its medium term bearish slant (black line).
We continue to advise short positions as far as 1.0039 is resistance.
The breakout of 0.9950 and 0.99 will both give a new sell signal.
In case of return above 1.0039, we will be neutral between this level and 1.0079. ...
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Risk Appetite Set To Freeze
Risk Appetite Set To Freeze
The severe arctic winds have reminded much of Europe that winter still has some bite and, in a similar vein, risk appetite is likely to peak as a more sobering reality returns. A key issue is that governments will look to take advantage of any improvement in conditions to row back on reforms and austerity as they face an increasingly hostile electorate. Key banking-sector reforms are also likely to be delayed with underlying issues left unresolved and business ...
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Weekly Economic and Financial Commentary : 05/02/2012
Weekly Economic and Financial Commentary : 05/02/2012
U.S. Review
Off to a Good Start for the Year
The employment report for January showed that 243,000 jobs were added with the unemployment rate declining slightly to 8.3 percent. The details of the report however, suggest that unseasonably warm weather may be playing a role in the stronger job gains.
The ISM-Manufacturing Index posted a marginal improvement in January as new orders jumped for the month. Export orders also posted a ...
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Technical analysis of the USD/JPY pair on February 3rd, 2012
Commentary of the USD/JPY pair :
The pair USD/JPY continues to move just above the support at 76.
All indicators are bearish.
We continue to advise short positions as far as 76.65 is resistance.
The breakout of 76 and 75.50 will both give a new sell signal.
In case of return above 76.65, we will be neutral between this level and 76.97.
The breakout of 76.97 will give a buy signal.
See the previous analysis of the USD/JPY pair of February 2nd, 2012
USD/JPY Analysis
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Gold climbs towards 8-week high as stocks rise
Gold prices rose on Thursday, approaching their earlier eight-week peak above $1,750 an ounce, as a larger than expected fall in new U.S. claims for unemployment benefit lifted stock markets and helped pull the dollar off highs versus the euro.
The precious metal has risen nearly 12 percent this year, supported by the Federal Reserve's announcement that it would hold U.S. interest rates at rock bottom for an extended period. The move is set to keep the dollar under pressure and the opportunity ...
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Dukascopy Morning Forex Overview : 02/02/2012
Fundamental Analysis
EUR
"The merger between Deutsche Boerse and NYSE Euronext would have led to a near-monopoly in European financial derivatives worldwide"
- Joaquin Almunia, competition commissioner
The European Commission has blocked a 9 billion dollar merger between Deutsche Börse and NYSE Euronext stock exchanges, saying that it would have stifled competition and created a monopoly in derivatives trading.
USD
"The job market continues to grow at a moderate pace"
- Jonathan Basile, ...
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