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Fibonacci Retracement LevelTitle:
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
Title:
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
Title:
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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European Market Update : 21/05/2012
Spain's banking sector said to be calling on market regulator for renewed ban on short-selling
Economic Data
(EU) ECB: €809M borrowed in overnight loan facility €839M prior; €762.4B parked in deposit facility v €785.1B prior
(JP) Japan Apr Nationwide Dept. Sales Y/Y: 1.3% v 14.1% prior; Tokyo Dept. Store Sales Y/Y: 6.7% v 26.7% prior
(IN) India Apr CPI Y/Y: 10.4% v 9.4% prior
(DE) Germany Apr Producer Prices M/M: 0.2% v 0.3%e; Y/Y: 2.4% v 2.5%e
(HU) Hungary Mar Avg Gross Wages Y/Y: 2.7% v 6.5%e v 6.9% prior
(RU) Russia Narrow Money Supply w/e May 14th (RUB): 6.93T v 6.88T prior
(ES) Spain Central Bank (BOS): Mar Bad Loan Ratio at 8.37% v 8.16% prior; - Lending -3.1% y/ym, Deposits -4.2% y/y
(IT) Italy Mar Industrial Orders M/M: 3.5% v 1.0%e; Y/Y: -14.3% v -13.2% prior
(IT) Italy ...
Title:
Market Drivers - Currencies : 11/05/2012
Today's Comment
Greek election: The Syriza party did not succeed in forming a new government and now the opportunity has been given to the Pasok party - it is not expected, however, that this party will be successful. Subsequently, the president will be given the opportunity and if he fails, a new election will be called. The Syriza party has displayed a very hostile attitude towards the EU's and the IMF's restrictions, and according to the most recent opinion polls the party will win about 24-25% of the votes against 17% or so at the recent election. Hence Syriza is interested in having a new election. Not looking good!
GBP interest-rate meeting: Yesterday's interest-rate meeting turned out as expected and did not result in any further quantitative easing. We will not get further ...
Title:
Euro snaps 8-session drop, up from 3-1/2-month low
The euro gained against the dollar on Thursday, snapping eight straight sessions of declines and bouncing from its recent 3-1/2-month low as stress in Spanish debt markets eased and Greece secured funds to repay its bondholders.
The tempering of the dual threats of a Greek insolvency and the country's potential exit from the euro also had the single currency rebounding from a mid-February low against the Japanese yen.
Greece averted an imminent funding crisis after the board of the European Financial Stability Facility agreed to release a scheduled payment. The allocation allows the country to meet near-term bond redemptions, helping the euro stabilize after an eight-day sell off.
"The EFSF agreement could be viewed as euro-positive, and data in the U.S. and overseas was not negative, ...
Title:
Euro rebounds from multi-month lows
The euro rose against the dollar for the first time in nine sessions on Thursday, bouncing from its recent 3-1/2-month low as stress in Spanish debt markets eased slightly and after Greece secured funds to repay its bondholders.
The tempering of the threat of a Greek insolvency and the country's possible exit from the euro also had the single currency rebounding from a mid-February low against the Japanese yen.
Greece averted an imminent funding crisis after the board of the European Financial Stability Facility agreed to release a scheduled payment. The allocation allows the country to meet near term bond redemptions, helping the euro stabilize after an eight day sell off.
"The EFSF agreement could be viewed as euro-positive, and data in the U.S. and overseas was not negative, but ...
Title:
Fragile euro hovers near multi-month lows
(Reuters) - The euro stayed close to a 3 1/2-month low against the dollar on Thursday and was expected to suffer further losses as political deadlock in Greece increased the risk of insolvency and a possible euro exit.
The common currency gained a short-term reprive as stress in Spanish debt markets abated slightly and after Greece secured funds needed for bond repayments.
However, it was expected to continue the firm downward path established since Greece's inconclusive elections at the weekend. With another set of elections likely, doubts are growing that Greece will adhere to austerity measures needed to secure further emergency funding.
The euro was up 0.2 percent at $1.2956, but it stayed not far from $1.29115 hit on Wednesday, its lowest since late January. Analysts were skeptical ...
Title:
Fragile euro teeters near multi-month lows
(Reuters) - The euro steadied near a 3 1/2-month low against the dollar on Thursday as stress in Spanish debt markets abated slightly and after Greece secured funds needed for bond repayments, tempering the threat of a Greek insolvency and possible euro exit.
However Greece's future in the euro zone remains in question, with another round of elections foreseen and doubts about whether the country will adhere to austerity measures needed to secure further emergency funding.
Greece averted an imminent funding crisis after the board of the European Financial Stability Facility agreed to release 4.2 billion euros of a scheduled payment. However, impatient governments withheld part of the latest tranche of rescue funds to be paid on Thursday.
Ten-year Spanish government bond yields fell ...
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