ForexTribe is a french website mainly created to share graphic analysis and trade ideas on the Forex Forum.
Forex Market CommentsTitle:
RTFX Daily Forex Market comments : 05/25/2012
EUR – USD
It looks set to visit further lower territory down to around 1.2524 - 1.2492. Its corrective attempts should fail ahead of 1.2576 - 1.2597. Stop loss above 1.2661 zone.
USD – CHF
One move lower to 0.9547 or 0.9508 is anticipated while below 0.9590 - 0.9609 area. Stop loss above 0.9633 zone.
GBP – USD
One more dip to 1.5653 - 1.5628 is likely followed by a grind higher to 1.5697 - 1.5717. After which it can resume its downtrend.
USD – JPY
It should try higher up to 79.62 - 79.71. Entry point 79.53 or 79.47. After this rise, a correction is expected.
USD – CAD
While below 1.0282 - 1.0300 it is more likely to fall further towards 1.0247 or 1.0230. Premature rise above 1.0300 could see it rising above 1.0333 zone.
NZD – USD
Currently uptrend should end ...
Title:
Markets vs. Technocrats
Forex News and Events:
Over the past few days, the media has been relaying comments suggesting leaders are backing the stay of Greece in the EMU. For starters the G8 stressed the importance for Greece to remain in the monetary union regardless of the discord over how to best tackle the crisis. During an interview with CNBC on Tuesday, former Greek PM insisted that an exit would yield “catastrophic” consequences for the country itself and “far reaching” implications for the EU. During yesterday’s European session however, EU officials stated they have agreed over a teleconference call with Eurogroup Work Group (EWG) that each nation in the EMU must prepare an individual contingency plan in case of an exit. The EUR sank against the USD to its lowest level since July 2010 at 1.2544, down 5. ...
Title:
EUR/USD Cedes The 1.2624 Support
Sunrise Market Commentary
- Fixed Income: Risk off pushes German bond yields to new lows
- Risk off sentiment pushed core bonds higher and non-core bond yield spreads re-widened substantially. The Summit didn't bring new information, but another hole found in Spain's regions' budgets might get attention today.
- Currencies EUR/USD cedes the 1.2624 support
- On Wednesday, the EMU debt crisis was again omnipresent. Markets feared that the EU leaders wouldn't be able to take decisive action to address the debt crisis. Extreme risk aversion pushed EUR/USD to a new low for 2012. The losses of EUR/GBP were more contained, as poor UK retail sales and rather soft BoE minutes kept the door open for more policy stimulation.
The Sunrise Headlines
- In the final hour of trading, US ...
Title:
Asian Market Update : 24/05/2012
EU leaders call on Greece to work harder, June meeting to provide more details on measures; China flash PMI contracts again Thu, 24 May 2012 1:41 AM EST
Economic Data
(CN) CHINA MAY HSBC FLASH MANUFACTURING PMI: 48.7 V 49.3 PRIOR FINAL (7th consecutive contraction)
(NZ) NEW ZEALAND APR TRADE BALANCE (NZ$): 355M V 400ME (11-month high); TRADE BALANCE YTD: -541M V -651ME
(NZ) NEW ZEALAND ANNUAL BUDGET RELEASE: AFFIRMS TARGET OF RETURNING BUDGET TO SURPLUS IN 2015
(AU) AUSTRALIA Q1 CBAHIA HOUSE AFFORDABILITY: 61.8 V 58.5 PRIOR
(JP) JAPAN BOJ MONTHLY ECONOMIC REPORT: Increasingly Evident Japan Economy Is Shifting To Pickup
(KR) SOUTH KOREA Q1 HOUSEHOLD CREDIT Y/Y: +7.0% V 7.8% PRIOR (lowest level since Sept 2009)
(VN) Vietnam May CPI m/m: 0.2% v 0.1% prior; y/y: 8.3% v 8.9%e
(JP) ...
Title:
RTFX Daily Forex Market comments : 05/24/2012
EUR – USD
It may meet resistance in 1.2606 - 1.2636 zone for a drift down to below 1.2522 zone.
USD – CHF
One move lower to 0.9483 or 0.9422 is anticipated while below 0.9559 - 0.9590 area. Stop loss above 0.9635 zone.
GBP – USD
It may meet resistance in 1.5692 - 1.5713 zone for a drift down to 1.5654 zone, after which bounce to 1.5751 is anticipated.
USD – JPY
It looks more likely that it would rise to 79.97 - 80.45 from 79.35 or 79.11. After which a downside move is expected.
USD – CAD
While below 1.0274 - 1.0297 it is more likely to fall further towards 1.0228 or 1.0206. Premature rise above 1.0297 could see it rising above 1.0342 zone.
NZD – USD
It may meet resistance in 0.7501 - 0.7504 zone for a drift down to 0.7455 zone, after which bounce to 0.7550 is ...
Title:
Euro falls to almost two-year low on Greek fears
(Reuters) - The euro slumped to its weakest level against the dollar in nearly two years on Wednesday on doubts a meeting of European leaders would calm fears of a disorderly Greek exit from the euro zone.
Investors piled money into safe-haven instruments, driving the U.S. dollar index to its strongest since September 2010. The yen, which also tends to perform well during times of stress, hit its highest level since February against the euro.
Euro zone officials have told members of the currency area to prepare contingency plans in case Greece quits the bloc, an eventuality which Germany's central bank said would be testing but "manageable," three officials told Reuters.
An informal summit of European Union leaders on Wednesday is expected to discuss growth-boosting measures and the ...
Title:
Euro sinks to 21-month low as Greek exit fears rise
(Reuters) - The euro plunged to a 21-month low against the dollar on Wednesday as investors dumped the currency on growing fears of a Greek euro zone exit and widespread doubts about the outcome of an EU summit later in the day.
EU leaders are expected to discuss growth-boosting measures but are not expected to produce any plan that would restore optimism among investors, especially given Germany's strong opposition to joint euro bonds.
Investors are doubtful that the leaders will come up with any measures to calm fears that have grown since an inconclusive Greek election earlier this month left the country on the path to bankruptcy and a possible exit from the euro zone.
"The whole problem of Greece, of fiscal retrenchment in the euro zone, the lack of growth across the region, and the ...
Title:
Global stocks, euro fall on Greece exit worries
(Reuters) - World stocks and the euro fell on Wednesday as investors shunned riskier assets on worries about Greece's possible departure from the euro zone, which would deepen the region's debt crisis and hurt an already fragile global economy.
Each euro zone country will have to prepare a contingency plan for the eventuality of Greece leaving the single currency, three euro zone sources told Reuters, citing an agreement reached by officials.
A scramble for low-risk investments enabled Germany to pay no interest on a new two-year debt issue amid the absence of new measures from a European leaders' summit in Brussels to tackle the region's debt crisis.
"The markets are on edge and sensitive to every possible out-of-control scenario coming out of Europe," said Peter Boockvar, equity ...
Title:
Doubts over EU summit send shares, euro lower
(Reuters) - World shares fell and Germany sold two-year bonds paying virtually no interest on Wednesday as investors shunned riskier assets, doubting that any new measures to tackle the euro zone debt crisis would emerge from a European leaders summit.
Concerns the latest EU summit could be a failure sent the euro to a 21-month low, put an end to a rally in European equities, and sent yields on Spanish and Italian bonds higher.
But investors bid strongly at an auction of safe-haven two-year German government bonds resulting in a yield of just 0.07 percent, while the dollar, measured against other major currencies .DXY hit a high not seen since September 2010.
The leaders are expected to discuss boosting growth at their meeting later on Wednesday and the idea of a joint euro zone bond. ...
|