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Currently Testing The SupportTitle:
Technical analysis of the GBP/JPY pair on May 2nd, 2012
Commentary of the GBP/JPY pair :
The pair GBP/JPY has rebounded yesterday on the support at 129.50 and is currently testing a pullback on 130.50.
Indicators are mitigated.
We continue to advise short positions as far as 130.50 is resistance.
The breakout of 129.50 will give a new sell signal and open the way towards 128.85.
In case of return above 130.50, we will be neutral between this level and 131.
The breakout of 131 will give a new buy signal.
See the previous analysis of the GBP/JPY pair of May 1st, 2012
GBP/JPY Analysis
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Euro well bid, Aussie well offerd
The Reserve Bank of Australia shocked markets with a 50bps rate cut this morning, the bank cut interet rate from 4.25% to 3.75% while markets were expecting an imminent cut of 25bps. Australia’s slowing economy and headache coming overseas from Europe in addition to the slowdown in its major trade partner China were the main reasons behind the aggressive move. Thus, we have seen the Australian and Newzealand dollar under pressure today.
While most European markets were off for Labor day, the euro was well bid as the common currency bottomed at the support area and the 50-days SMA around 1.3220, to resume the bullish bias retesting areas near 1.3300 again, however 1.3300 seen the next important pivot for the pair over the short term. Above 1.3300 the door could be open towards March high ...
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UK Economic Woes Continue To Mount
After plunging back into recession in the first quarter of 2012, UK data at the start of the second quarter hasn't been particularly encouraging. Today the manufacturing PMI survey for April was weaker than expected at 50.5 down from a revised 51.9 in March, which was the lowest level since December. The biggest decline was in the export sector, as the UK's largest trading partner, the Eurozone, suffers from its own economic and sovereign woes. However, what was worrying is that new orders to Asia and the US also fell sharply, which is concerning as they may not be able to balance out the weak growth coming from Europe.
Could the BOE expand QE?
This report is the first of three April PMI surveys released over the coming days and the results for the construction and services sectors will ...
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Technical analysis of the USD/CAD pair on May 1st, 2012
Commentary of the USD/CAD pair :
The pair USD/CAD has rebouded yesterday on the support at 0.98 and is currently testing the resistance at 0.9887.
All indicators are bullish.
The pair is still moving into its bearish channel (purple lines).
We continues to advise short positions as far as 0.9887 is resistance.
A return below 0.9866 will comfort our bearish feeling.
The breakout of 0.98 will give a new sell signal and open the way towards 0.9750.
In case of return above 0.9887, we will wait the breakout of 0.9910 to advise long positions.
See the previous analysis of the USD/CAD pair of April 30th, 2012
USD/CAD Analysis
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Dollar regains on haven-demand
The week kicks off with a downbeat tone, we have seen the U.S. dollar paring the losses seen on Friday triggered by markets reconsidering QE3 probabilities. The safe-haven currency gained on dampened risk-appetite, mainly provoked by Spain slipping into recession, as the economy contracted by 0.3 percent in the first quarter; meanwhile, the Canadian GDP showed the country’s economy contracted by 0.2% in February, adding into the overall gloomy scene.
From the U.S., personal spending dropped from 0.9% in February to 0.3% in March, while personal income ticked 0.1 percent higher from 0.3% in February, on the other hand, Chicago purchasing managers index dropped sharply as well printing a 56.2 from 62.2 in February.
The EUR/USD pair pared Friday’s gains after printing a high at 1.3270; the ...
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Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
No significant changes from last Friday, when the pair reached fresh 4-week high at 1.3269. Overnight price action moved within narrow range , hovering around 1.3250. Positive tone on short-term studies keeps the upside favored, with immediate targets at 1.3269 and 1.3277, 02 Apr low, above which to expose psychological barrier at 1.3300. Overnight’s low at 1.3230 offers initial support, ahead of 1.3200, figure support / 55 day MA, while only break below 1.3157/64, last Friday’s low / Fib 38.2% of 1.2993/1.3269 ascend, would delay bulls.
Res: 1.3269, 1.3277, 1.3300, 1.3366
Sup: 1.3229, 1.3211, 1.3200, 1.3157
GBP/USD
Maintains strong bullish tone, with gains accelerating after clearance of 1.6200 barrier. Overnight’s gap higher opening confirms upside action towards 1.6300, ...
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Low US growth pushes for QE3, but what about inflation?
Forex Morning Briefing : Low US growth pushes for QE3, but what about inflation?
What’s new:
Asia: Outlook for lower rates in Australia takes risk higher across the board.
Europe: Good Italian bond auction calmed markets post Spanish downgrades.
US: Q1 GDP missed expectations, but stocks closed the week on a positive note.
Rates in Asia and Indices:
EUR/USD 1.3229 1.3268 -0.02 %
USD/CHF 0.9056 0.9079 -0.02 %
GBP/USD 1.6264 1.6297 0.11 %
USD/JPY 80.08 80.39 0.16 %
EUR/CHF 1.2000 1.2052 0.01 %
EUR/JPY 106.05 106.44 0.19 %
Dow Jones 13192.21 13266.68 0.17 %
Nasdaq 2723.16 2750.5 0.59 %
S&P 500 1397.31 1406.64 0.24 %
Nikkei 225 9463.6 9691.7 -0.42 %
Shanghai 2393.867 2408. ...
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Technical analysis of the USD/CAD pair on April 30th, 2012
Commentary of the USD/CAD pair :
The pair USD/CAD made a pullback on the resistance at 0.9866 last friday and then took up its bearish movement.
The pair is currently testing the support at 0.98.
All indicators are bearish.
The pair is moving just below the lower band its bearish channel (purple lines).
We continues to advise short positions as far as 0.9880 is resistance.
The breakout of 0.98 will give a new sell signal and open the way towards 0.9750.
In case of return above 0.9880, we will wait the breakout of 0.9910 to advise long positions.
See the previous analysis of the USD/CAD pair of April 26th, 2012
USD/CAD Analysis
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Technical analysis of the USD/CHF pair on April 30th, 2012
Commentary of the USD/CHF pair :
The pair USD/CHF has continued its bearish movement and is currently testing the support at 0.9050.
All indicators are bearish.
The pair is still moving below its bearish slant (purple line).
We now advise to trade only short positions as far as 0.9120 is resistance.
The breakout of 0.9050 will give a new sell signal and open the way towards 0.90.
In case of return above 0.9120, we will wait the breakout of 0.9150 to advise long positions.
See the previous analysis of the USD/CHF pair of April 26th, 2012
USD/CHF Analysis
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