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Daily Technical AnalysisTitle:
GBP/JPY Daily technical analysis - May 2012
The pair GBP/JPY has broken during May the support at 128.43 (level 50% of fibonacci retracements) leading to a bearish acceleration. The breakout of 125.69 (level 38.20%) just indicated a return of the bearish trend.
The trend will remain bearish as far as 128.43 is resistance. The breakout of 122.31 (level 23.60) will give a new sell signal and open the way towards 120. The next support is at 116.83 (level 0%).
In case of return above 128.43, the trend will be neutral between this level and 131.17 (level 61.80%). This last level match roughly with the level of the long term bearish slant. The breakout of this level will indicate a return of the bullish trend. We will then target the resistance at 134.28.
Previous GBP/JPY Daily Analysis - April 2012
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GBP/USD Daily technical analysis - May 2012
The pair GBP/USD has broken in the middle of April the resistance at 1.60 and has then tested the next one at 1.6260. The test of this level lead to a strong bearish rally and a return on 1.5650.
The trend will remain bullish as far 1.5650 is support. A return above 1.58 will comfort the bullish trend and the breakout of 1.60 will give a new buy signal. The next resistance at 1.6260.
In case of breakout of 1.5650, the trend will be neutral between this level and 1.5450 (level of the long term bullish slant - black line). Only the breakout of this level will indicate a return of the bearish trend. We could then expect a test of the major support at 1.5345. The next support is at 1.52.
Previous GBP/USD Daily Analysis - April 2012
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NZD/USD Daily technical analysis - May 2012
The pair NZD/USD has broken the support at 0.7983 (level 38.20 of the fibonacci retracements) and also the lower band of its bullish channel in the beginning of May. Then a bearis rallye occured.
The breakout of 0.7778 (level 61.80%) will give a new sell signal. The pair is moving towards a test of the major support at 0.74. The trend will remain bearish as far 0.80 is resistance. The breakout of 0.74 will give a new sell signal and open the way towards 0.7117 (level 100%) and 0.70.
In case of return above 0.80, the trend will be neutral between this level and 0.81. The breakout of this last level will indicate the return of the bullish trend. The breakout of 0.8439 (level 23.60%) will give a new buy signal.
Previous NZD/USD Daily Analysis - April 2012
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USD/CAD Daily technical analysis - May 2012
The pair USD/CAD has broken its bearish slant (black line) and then made a bullish rallye during May. Currently, the pair is testing the resistance at 1.0240. The trend is neutral between this level and 1.01.
In case of breakout of 1.0240, the trend will be bullish. The breakout of 1.0362 (level 23.60%) will give a new buy signal and open the way towards 1.0533.
However, if 1.01 is broken, this will indicate the return of the bearish trend. The breakout of 0.9811 will give a new sell signal and open the way towards 0.9680.
Previous USD/CAD Daily Analysis - April 2012
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USD/CHF Daily technical analysis - May 2012
The pair USD/CHF has broken the resistance at 0.9270 and has continued during May its bullish movement. The pair is currently moving towards the resistance at 0.9754 and is moving above the fibonacci retracment 50% at 0.9396.
The trend will remain bullish as far as 0.90 is support. The breakout of 0.9754 will give a new buy signal and open the way towards 0.9946 (level 61.80%). Next resistances are at 1.0250 and 1.05.
If 0.90 is broken, a return on 0.8847 (level 38.20%) is expected. The breakout of this last level will indicate a return of the bearish trend. We will then expect a test of 0.8572.
Previous USD/CHF Daily Analysis - April 2012
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USD/JPY Daily technical analysis - May 2012
The pair USD/JPY has broken at the end of April the support at 80, showing a return of the bearish trend. During May, the bearish movement has continued. Currently, the fibonacci retracement 61.80ù at 79.13 is acting as support.
The trend will remain bearish as far as 81.60 is resistance. The breakout of 79.13 will give a new sell signal and open the way towards the major support at 78.30. Next supports are at 77.50 and 76.63.
In case of return above 81.60, the trend will be neutral between this level and 83 (level of the long term bearish slant). Only the breakout of this last level will show a return of the bullish trend.
Previous USD/JPY Daily Analysis - April 2012
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Dukascopy Morning Forex Overview : 24/05/2012
Fundamental Analysis
EUR
Concern about Greece "is a big weight on the market and makes things uncertain"
- Emmanuel Soupre, a fund manager at Neuflize Private Assets
European stocks tumbled on Wednesday, after rising by the most in a month on Tuesday, on speculation Greece may exit the euro zone.
USD
"It’s very clear now that the housing market has turned a corner"
- Richard DeKaser, deputy chief economist at Parthenon Group LLC
Sales of new U.S. homes rose by more than expected in April, Commerce Department data showed on Wednesday. Purchases increased to an annual rate of 343,000, up by 3.3 per cent from a revised 332,000 in March.
GBP
" employment remains fragile and wage growth weak"
- Ross Walker, chief U.K. economist at Royal Bank of Scotland Group
U.K. retails sales declined by ...
Title:
Dukascopy Afternoon Forex Overview : 23/05/2012
Fundamental Analysis
EUR
German bunds rose on worries that European leaders will struggle to resolve the euro zone debt crisis during tonight's European summit. David Schnautz of Commerzbank AG in London thinks that Europe is unlikely to solve key topics and will probably disappoint the market. The 5-year bund lost 5 bp to 0.47 percent at 10:49 GMT after tumbling to 0.461 percent, the lowest since 1990, when Bloomberg began gathering data.
USD
Crude oil futures declined in Asian session on Wednesday as Iran is ready to invite nuclear inspectors, the move that may ease oil import sanctions. Light, sweet crude oil futures for July delivery traded at 91.27 US Dollars per barrel, retreating by 0.63% from the last session's high of 91.72 US Dollars per barrel.
GBP
Today the minutes of the ...
Title:
Dukascopy Afternoon Forex Overview : 22/05/2012
Fundamental Analysis
EUR
Gold extended previous gains in Asian session on Tuesday as concerns over Greek exit from the single currency union eased. At G8 summit leaders of eighth largest economies stated that they would do everything possible to retain Greece in the Euro Zone. COMEX gold June contract traded at 1,592.35 US Dollars per troy ounce on the New York Mercantile Exchange, advancing by 0.23%.
USD
The US Senate has passed a bill aimed at tightening sanctions imposed on Iran to force the country to cease its nuclear program. The new sanctions imply investigation of role of Iran's Revolutionary Guard in oil exports as well as obliging the US companies to disclose any business activities with Iranian partners. The move came ahead of negotiations between Iran and six major ...
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