ForexTribe is a french website mainly created to share graphic analysis and trade ideas on the Forex Forum.
Former Bullish ChannelTitle:
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:
Dukascopy Morning Forex Overview : 21/05/2012
Fundamental Analysis
EUR
"Fears of a Greek exit from the euro zone and the negative consequences from that are prevailing"
- Ben Kwong, KGI Asia
European stocks edged lower after Fitch downgraded Greece’s credit rating to ‘CCC’, implying that the country is vulnerable and highly dependent on favourable economic conditions to fulfill its financial obligations.
USD
"If there were scope to do another twist of some type it would be prudent to consider it, especially in the scenario where things are worse and the Fed feels like it needs to move"
- Nathan Sheets, Citigroup Inc.
Fed policymakers might potentially launch another round of Operation Twist rather than a direct asset purchases in case of increased risks or further weakening of the US economy.
GBP
"We must work together to give ...
Title:
Dukascopy Morning Forex Overview : 05/17/2012
Fundamental Analysis
EUR
"We expect euro-region inflation to normalize in 2013"
- Michael Schubert, an economist at Commerzbank AG
Inflation in the seventeen nation bloc eased to 2.6 per cent in March from 2.7 per cent the previous month, said the European Union’s statistics office in Luxembourg on Wednesday.
USD
"Uncertainty about Greece and the effects a potential exit out of the euro would have on Europe, the global economy and the financial system in general is driving investors out of stocks into safe havens"
- Markus Huber, head of German sales trading at ETX Capital
The Standard & Poor's 500 lost 0.44%, or 5.86 points, to 1,324.80. The Dow Jones Industrial Average declined by 0.26%, or 33.45 points, to 12,598.55.
GBP
Unemployment figures are a "welcome step in the right ...
Title:
Technical analysis of the USD/JPY pair on May 17th, 2012
Commentary of the USD/JPY pair :
The pair USD/JPY has tested yesterday the resistance at 80.41.
All indicators are bullish.
The pair is still moving above the upper band of its former bearish channel.
We are neutral on the pair between 80.09 and 80.41.
We advise to wait an exit of this range to take position:
- Long above 80.41. The breakout of 80.76 will give a new buy signal
- Short below 80.09. The breakout of 79.64 will give a new sell signal.
See the previous analysis of the USD/JPY pair of May 16th, 2012
USD/JPY Analysis
Title:
Spotlight on the Sterling
Forex News and Events:
Yesterday’s European session was a breather for the Euro area as German GDP came in much better than expected at 0.5% q-o-q. The strength of Germany’s numbers pulled EU’s GDP higher to 0.0% against a forecast -0.2%, avoiding a technical recession after last quarter’s -0.3% GDP. Nevertheless, both German and Euro zone economic sentiments were lower, underscoring a fading institutional optimism over economic health. GDP for the biggest European economies after Germany were worrisome, with France generating no growth in the first quarter of 2012 while Italy and Spain’s economies contracted by 0.8% and 0.3% respectively over the same period. The situation in Greece is still moving towards a new round of elections with Independent Greeks party leader Kammemos announcing ...
Title:
Technical analysis of the USD/JPY pair on May 16th, 2012
Commentary of the USD/JPY pair :
After the pullback on the upper band of its former bearish channel (black lines), a bullish movement occured on the pair USD/JPY who is currently testing the resistance at 80.41.
All indicators are bullish.
We are neutral on the pair between 80.09 and 80.41.
We advise to wait an exit of this range to take position:
- Long above 80.41. The breakout of 80.76 will give a new buy signal
- Short below 80.09. The breakout of 79.64 will give a new sell signal.
See the previous analysis of the USD/JPY pair of May 15th, 2012
USD/JPY Analysis
Title:
Technical analysis of the NZD/USD pair on May 15th, 2012
Commentary of the NZD/USD pair :
The pair NZD/USD has continued its bearish movement and the breakout of 0.78 gave us a new sell signal.
Currently, the pair is testing the next support at 0.7754.
The gap is still not filled in.
All indiactors are bullish.
The pair is moving into its former bearish channel (purple lines).
We continue to advise short positions as far as 0.7923 is resistance.
The breakout of 0.7754 will give a new sell signal and open the way towards 0.77.
In case of return above 0.7923, we will be neutral between this level and 0.7970.
See the previous analysis of the NZD/USD pair of May 14th, 2012
NZD/USD Analysis
Title:
Technical analysis of the NZD/USD pair on May 14th, 2012
Commentary of the NZD/USD pair :
The pair NZD/USD has continued its bearish movement and opened on a bearish gap below the support at 0.7838 (new sell signal).
The gap is still not filled in.
All indiactors are bullish.
The pair is moving into its former bearish channel (purple lines).
We continue to advise short positions as far as 0.7950 is resistance.
The breakout of 0.78 will give a new sell signal and open the way towards 0.7754.
In case of return above 0.7950, we will be neutral between this level and 0.80.
See the previous analysis of the NZD/USD pair of May 11th, 2012
NZD/USD Analysis
Title:
Dukascopy Afternoon Forex Overview : 04/10/2012
Dukascopy Fundamental Analysis
EUR
Greece’s next government may hold a trump card worth more than $510 billion if it heeds voters’ demands to renegotiate its bailout with the European Union.
USD
Treasury prices declined on Thursday, pushing yields up from their lowest levels since February, as news out of Europe eased some near-term uncertainty and reduced demand for the relative safe-haven status of U.S. debt.
GBP
Bank of England officials halted stimulus expansion after seven months of bond purchases as the threat of inflation trumped concerns about an economy that’s succumbed to a double-dip recession. The nine-member Monetary Policy Committee led by Governor Mervyn King today held its quantitative-easing target at 325 billion pounds ($525 billion), ending a second round of stimulus. ...
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