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Eur/usdTitle:
Windsor Brokers - Short Term Technical Analysis for Majors (13:30 GMT)
EUR/USD
Today’s sharp reversal from 1.4293 was contained by trendline support at 1.4137, with subsequent bounce fully retracing losses. Break above strong resistance zone at 1.4300, daily 55 day MA / Fib 61.8% of 1.4576/1.3836 decline, signals fresh phase higher, with 1.4350, daily 90 day MA and 1.4373, 07 July high, in focus. Near-term studies are approaching overbought zone, with corrective pullback seen preceding fresh gains. Dips need to be contained above 1.4240, to maintain immediate bullish structure. Key support lies at 1.4140, trendline support / today’s low.
Res: 1.4350, 1.4373, 1.4400, 1.4465
Sup: 1.4300, 1.4274, 1.4245, 1.4216
GBP/USD
Rallies through key barriers at 1.6200/20 zone, 14 July high / daily 55 day MA ; main bear trendline, to extend gains through daily 90 day ...
Title:
Markets react positively to leaks on Brussels summit deal
The euro and equities are moving positively to the news that a deal might be hours away from the euro area leaders and even though the proposition suggests temporary default status for Greece as the ECB ease their reluctance to the notion under the bailout.
According to a draft of the summit statement obtained by Reuters, the euro area leaders are close to expanding the EFSF and allow the fund to extend support to states on a precautionary basis not until they are in need or rescue. The fund is also expected to be used to lend government to recapitalize banks and also intervene in the bond market as it was not allowed previously.
Also according to the draft, the rescue loans maturity will be extended to 15 years from 7.5 and the interest rate will be lowered to 3.5% from current levels ...
Title:
Windsor Brokers - Short Term Technical Analysis for Majors (07:30 GMT)
EUR/USD
Extends the latest upleg from 1.4013, 18 July higher low, currently attempting through 1.4281, 14 July high. Break here to face strong resistance at 1.4300, daily 55 day MA, clearance of which is required to confirm bullish stance and open way for test of main trendline resistance, drawn off 1.4938, currently at 1.4467. On the downside, 20 day MA, currently at 1.4230, underpins the advance, while loss of 1.4200 handle would soften the near-term tone.
Res: 1.4300, 1.4373, 1.4400, 1.4465
Sup: 1.4237, 1.4216, 1.4205, 1.4165
http://mediaserver.fxstreet.com/Reports/325f5b3f-7a7d-4768-8193-afec3573778f/eurusd_20110721073009.gif
GBP/USD
Maintains positive structure off 1.5779, 12 July low, with the latest leg higher from 1.6004, 18 July higher low, attempting to clear key barrier at ...
Title:
Heavy News Day Coincides with Fed Testimony on Dodd-Frank
Today's market should be highly volatile and traders will want to be on guard as they traverse today's investment landscape. The most impactful news of the day will come from both the United States and Europe which will be publishing a series of reports ranging from manufacturing, services, unemployment claims, housing and natural gas inventories. Fed Chairman Bernanke will also be giving testimony about the Dodd-Frank Act which regulates financial markets in the United States.
Economic News
USD - USD Halts Climb as Risk-Taking Surges
The US dollar (USD) has experienced a rather sudden about face this week. The EUR/USD was seen moving back towards 1.4270 yesterday while the GBP/USD inched just above 1.61. Data from the American economy was largely bullish, which may have helped spark ...
Title:
Forex Technical Analysis : 07/21/2011
- Forex Technical Analysis : 07/21/2011 -
(Timeframes: 30 minutes)
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Title:
Technical analysis of the EUR/USD pair on July 21th, 2011
Commentary of the EUR/USD pair :
The pair EUR/USD validated yesterday the break out of 1.42, offering a buy signal.
The pair is back into its triangle.
All indicators are bullish.
We maintain to trade only long positions as far as 1.42 is resistance.
The breakout of 1.43 will give a new buy signal and open the way towards 1.44.
In case of return below 1.42, we will then advise to trade short positions.
The break out of 1.41 will give a new sell signal.
See the previous analysis of the EUR/USD pair of July 20th, 2011
Title:
Optimism for Europe Returns, Greenback Suffers
The US dollar weakened today, falling to the lowest level in almost a week against the euro, as hopes that the European leaders would find a way out of crisis diminished need in safe currencies.
The European politician will meet tomorrow at summit in Brussels. Forex market participants hope that the meeting will result in some cohesive plan to resolve current economic problems of the Eurozone and this optimism made traders prefer riskier assets. The Stoxx Europe 600 Index gained 0.8 percent, while the Standard & Poor’s 500 Index was little changed.
The fundamentals in the US weren’t supportive for the dollar either as today’s report erased optimism for the US housing market, caused by yesterday’s macroeconomic data. Existing home sales unexpectedly dropped from 4.81 million to 4.77 ...
Title:
Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
Lift above 1.4200/16 barrier reached fresh one week high at 1.4238, confirming the near-term positive stance. Mild correction has so far been contained at 1.4200 zone, with focus on 1.4281, 14 July high and key near-term resistance. Break here to signal fresh phase higher and open 1.4373/90, 07 July high / main trendline resistance. Initial support lies at 1.4170, 20 day MA, while possible deeper reversal needs to be contained at 1.4130 to maintain near-term bulls.
Res: 1.4238, 1.4247, 1.4257, 1.4281
Sup: 1.4190, 1.4165, 1.4132, 1.4107
GBP/USD
Near-term price action is for now capped under 1.6200 zone, 14 July high / daily 55 day MA, along with bear channel resistance line at 1.6230, as current remains in narrow range sideways trading. Near-term outlook is still constructive ...
Title:
Dollar Weakens, BOE Minutes More Dovish
Sterling was up versus the dollar but weaker in the crosses as the BOE meeting minutes showed a reluctance to tighten interest rates given weakness in UK growth prospects and headwinds in the global economy. Rising expectations for solutions to debt issues on both sides of the pond are spurring equity gains and dollar weakness, though the major currencies remain in their weekly ranges prior to tomorrow's EU summit.
The dollar is weaker as market sentiment is improving. Prospects of a deal in the US debt talks are making headway as the Gang of six proposal may be enough to stitch together a short term solution while pushing the larger budgetary debates further down the road until after the 2012 election. Equities have continued to perform well after yesterday's 1.6% rally in the Dow. ...
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