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Found Resistance On The LowerTitle:
YouTradeFX Daily Market Analysis : 11/07/2011
www.youtradefx.com
EUR/USD
The euro – dollar pair opened the week's trading with a downwards price gap against the background of fears regarding the spread of the European debt crisis in the direction of Italy. On the pair's short graph it is possible to identify the support level at 1.4180 that has successfully stopped the pair's deterioration – at least for the time being. The combination of a strong support level and the statistical fact that in 72% of cases, the price gap closes on the same day makes it possible that we have here an excellent buy opportunity with a price target, for the short term, close to the resistance level of 1.4335 and a medium term price target to be found at the resistance level of 1.4700.
In the case of the euro specifically, and also against the background ...
Title:
Precious Metals Rising amid Risk Uncertainty
The price of precious metals like Gold, Silver, and Platinum found support this past week despite the rising strength of the US dollar, the currency in which such assets are valued. Gold has been trading with rather mild price action since this past April, but traders have been awaiting price resurgence due to the rampant increase in risk aversion due to rising tensions from Greece and dismal jobs reports out of the US. So far, this resurgence appears to be gaining momentum as these words are being written.
Economic News
CAD - CAD Losing Steam as US Recovery Outlook Weakened
The Canadian dollar was seen in decline last week as traders began to view the lackluster performance of the US economy these past several weeks as a sign that regional economic growth will be limited. The USD/CAD ...
Title:
Forex Traders Anticipating Bullish NFP Report?
An uptick in US private sector employment yesterday, reported by ADP, added to the risk-taking sentiment by most investors which came as a result of a rate hike in Europe. Should today's Non-Farm Payroll (NFP) data continue this trend of optimism, we may see the greenback taking severe losses against its rivals as traders seek out higher yields.
Economic News
USD - USD in Decline as Employment Data Sparks Risk Taking
With the European Central Bank (ECB) hiking interest rates, and private sector employment rising in the US, the value of the USD appears to be taking a dive as riskier currencies like the EUR jumped in yesterday's afternoon and evening sessions. The US dollar was seen decreasing yesterday as traders began to seek riskier assets following statements by the ECB's Trichet ...
Title:
Windsor Brokers - Short Term Technical Analysis for Majors (13:30 GMT)
EUR/USD
Extends weakness from 1.4576 high after brief consolidation at 1.4300 zone, losing 1.4236, 28 June low, to reach 1.4220 low so far. Further decline looks for test of trendline from 1.3968, currently at 1.4168, loss of which would confirm top at 1.4576 and open 1.4100/1.4073 lows for test. Today’s consolidative range ceiling at 1.4346 offers initial resistance, ahead of strong barrier at 1.4400 zone.
Res: 1.4346, 1.4369, 1.4396, 1.4435
Sup: 1.4220, 1.4200, 1.4168, 1.4102
http://mediaserver.fxstreet.com/Reports/325f5b3f-7a7d-4768-8193-afec3573778f/eurusd_20110707134132.gif
GBP/USD
Remains under pressure after fully retracing the latest recovery attempt from 1.5947, yesterday’s low, that stalled at 1.6017 and subsequent weakness posted fresh low at 1.5943 today. Negative near- ...
Title:
Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
Consolidates around 1.4300, previous support area, after fresh losses through the latter extended to retrace 61.8% of 1.4102/1.4576 ascend at 1.4285, yesterday’s low. Near-term studies remain skewed to the downside, as daily outlook loses momentum. Corrective action on oversold hourly conditions is for now seen capped at 1.4400/35 zone, with fresh weakness through 1.4285 to target 1.4236/00, ahead of trendline support at 1.4165.
Res: 1.4346, 1.4369, 1.4396, 1.4435
Sup: 1.4310, 1.4285, 1.4236, 1.4200
http://mediaserver.fxstreet.com/Reports/325f5b3f-7a7d-4768-8193-afec3573778f/eurusd_20110707072042.gif
GBP/USD
Remains under pressure after fully retracing the latest recovery attempt from 1.5947, yesterday’s low, that stalled at 1.6017 and subsequent weakness posted fresh low at ...
Title:
Inflationary Concerns Affecting Risk Sentiment
With interest rate decisions on tap today, many investors appear weary of taking on risk. Should the ECB lift rates today, as is expected, there is potential for the EUR to see a sharp downturn as investors collate the data with China's adjustment to mean that inflation is becoming a concern and risk may get taken off the table
Economic News
USD - USD Continues Climb as Chinese Rate Hike Affects Risk
The news of China hiking rates has sent several traders into a risk averse mentality, helping to lift the value of the USD as riskier currencies like the EUR dipped in yesterday's afternoon and evening sessions. Global growth concerns are coming to the fore with many viewing China's third rate hike this year as a sign that getting inflation under control has topped their agenda.
The US ...
Title:
AUD Reluctant to Rise as China Hints at Rate Hike
The steady, and dovish, monetary policy of the Reserve Bank of Australia (RBA) served the Aussie with little support in this week's market as most participants await news from China and New Zealand to determine the direction of the AUD relative to its Pacific neighbors. It appears any negative news in Australia, or a rate hike by either China or New Zealand, will push the Aussie into a tailspin as risk aversion takes hold.
Economic News
USD - USD Bullish as China Rate Hike Weighs on Risk Appetite
The US dollar was seen increasing late yesterday as traders began to seek shelter following speculation that China may pursue a more hawkish monetary policy due to rampant inflation. The EUR/USD was seen moving towards 1.4380 yesterday while the GBP/USD was inching towards 1.6030.
The news so ...
Title:
YouTradeFX Daily Market Analysis : 05/07/2011
www.youtradefx.com
GBP/USD :
The financial markets are registering price drops this morning due to the warning issued by S&P, the credit rating agency, that forecasts a selective bankruptcy declaration on some of the Greek debenture bonds. The drops have also impacted on the United Kingdom pound – United States dollar pair that has lost over 50 points in the past few hours. The estimate is that the drops will have a limited impact and then only in the short term. As a result, we can view the present fall as a good opportunity to pick up the pair at a comfortable buy price.
It is important to point out the key support level of 1.5960 that could pull the pair towards it before the move to price increases, which began a week ago, renews. A fall to this level will be used as a key point for ...
Title:
Dollar could be Bid on Safe-Haven Appeal
The US dollar is stronger against the majors in the Asian trading session as the shortened week will be critical for the continuation of the “risk-on” mode that was sparked last week by the passage of the Greek austerity measures and the better than expected ISM performance. Headwinds are already apparent with the rejection of the Greek debt rollover plan by S&P and a drop in some commodity prices according to a Financial Times article.
Economic News
USD - Dollar could be Bid on Safe-Haven Appeal
The US holiday celebrations are ending and US debt talks are set to begin between Democrats and Republicans. The two parties are at odds over how to raise the $14.3T debt ceiling. Republicans are steadfast in their refusal to raise taxes unless an increase in spending cuts accompanies the ...
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