ForexTribe is a french website mainly created to share graphic analysis and trade ideas on the Forex Forum.
GapTitle:
Oil rises on weaker dollar after Wall Street rally
(Reuters) - Oil tracked equities higher on Tuesday, rising by as much as $1, while a weaker dollar rekindled some of the appeal of commodities as concern about Europe's deteriorating debt crisis eased temporarily.
U.S. crude climbed 69 cents to $88.88 a barrel by 0212 GMT, off an earlier high of $89.21, while Brent added 57 cents to $112.82 after touching $113.30.
Asian stocks steadied and the euro held above a seven-month low against the dollar on short-covering on Tuesday, after a report that Italy may get financial support from China lifted Wall Street in late trade but did nothing to ease fears that Europe is descending into a banking crisis.
Traders were wary about the modest oil rally as markets remained prone to swings in risk appetite, with policy makers struggling to reassure ...
Title:
Gold rebounds 1 percent on persistent euro zone worries
(Reuters) - Gold prices rebounded 1 percent on Tuesday from a sell-off in the previous session, as heightened worries about the sovereign debt crisis in Europe remain supportive of safe-haven demand for bullion.
The threat of a potential Greek default and a full-blown banking crisis in Europe triggered a sell-off in equities and the euro in the previous session, before talks that Italy had asked China to buy its debt helped ease the panic.
Investors are watching a meeting between the U.S. Treasury Secretary Timothy Geithner and euro zone finance ministers on Friday to discuss risks posed by European debt contagion.
"There is a slow-motion train wreck going on in Europe at the moment, which is going to be relatively supportive of gold," said Nick Trevethan, senior commodities strategist ...
Title:
Global stocks and euro recover after slide
(Reuters) - European index futures rose and the euro edged off a seven-month low on Tuesday after a report that Italy may get financial support from China sparked a bout of short-covering but did nothing to ease fears that Europe is sliding into another banking crisis.
Asian shares staged a modest rebound, but growing expectations of a Greek debt default, sharp drops in French bank shares on Monday due to their sovereign exposure and a surge in Italian bond yields meant sentiment remained fragile and any rally was likely to be short lived.
"There are still enormous challenges facing the European system at this point and fears around a default in Greece are very high and it's hard to see that changing any time soon," said Greg Gibbs, a strategist at RBS in Sydney.
The dollar eased ...
Title:
Dukascopy Morning Forex Overview : 13/09/2011
Fundamental market overview
EUR
Greek government bonds declined, pushing yields higher on ru-mours Germany is preparing for the country's default while French banks may be downgraded because of their holdings of Greek bonds. Yields on 2 and 10 year Greek bonds rose to 69.55% and 23.55% respectively on Monday.
USD
The U.S. economy will grow at slower pace in 2012 than previously estimated, a survey conducted by the National Association for Busi-ness Economics showed on Monday. Growth forecast for 2011 and 2012 was revised from 2.8%, 3.2% to 1.7% and 2.3%, respectively.
GBP
Yields on U.K. bonds dropped to record lows as investors turned to safe haven government securities on speculation Germany is prepar-ing for Greek default. Yield on 10 year bonds declined to 2.19 on Monday, the ...
Title:
Technical analysis of the EUR/GBP pair on September 13th, 2011
Commentary of the EUR/GBP pair:
The pair EUR/GBP found support yesterday on 0.8850.
Tje pair just validated a return above 0.86, allowing the pair to filled in its bearish opening gap.
All indicators are still bearish.
We maintain to trade only short positions as far as 0.8650 is resistance.
The breakout of 0.8550 will give a new sell signal and open the way towaxrds 0.85.
In case of return above 0.8650, we will wait the breakout of 0.87 to advise long positions.
See the previous analysis of the EUR/GBP pair of September 12th, 2011
Title:
Technical analysis of the EUR/USD pair on September 13th, 2011
Commentary of the EUR/USD pair :
The pair EUR/USD found support yesterday on 1.35.
The pair just filled in its opening gap of the week and is currently testing 1.37 as resistance.
Fibonacci retracements of the last bearish movement are at 1.3750 and 1.39.
All indicators are still bearish.
We maintain to trade only short positions as far as 1.37 is resistance.
The breakout of 1.35 will give a new sell signal and open the way towards 1.34.
In case of return above 1.37, we will wait the breakout of 1.38 to advise long positions.
See the previous analysis of the EUR/USD pair of September 12th, 2011
Title:
Brent down on economy, U.S. crude rises on spread sale
(Reuters) - Brent crude fell in volatile trade on Monday, weighed down by concerns the euro zone debt crisis could dent the global economic recovery and a bout of spread trading.
U.S. crude rose more than 1 percent as traders sold the spread between WTI and Brent crude prices after it widened to a record high last week.
Brent futures fell 52 cents to settle at $112.25 a barrel, after earlier falling as low as $110.42. U.S. crude rose 95 cents to settle at $88.19.
"In the Brent market, we are seeing a little more profit-taking on the WTI-Brent spread and that is why Brent is down a little and WTI is up," said Gene McGillian, analyst at Tradition Energy in Stamford, Connecticut.
The spread between WTI and Brent crude narrowed to below $24 after closing at $25.53 on Friday. The spread hit ...
Title:
Brent, U.S. crude rise as Wall St cuts losses
(Reuters) - Brent crude oil rose in choppy trade on Monday as U.S. equity markets pared losses, outweighing concern about Europe's debt crisis.
Brent fell earlier on worries that Greece may default on its debt, but rose with U.S. crude as Wall Street bounced off its lows.
"It looks like a bit of a short-covering rally spurred on by equities not getting decimated today. Oil traders are responsive to that," said Richard Ilczyszyn, senior market strategist at MF Global in Chicago.
Brent futures rose 51 cents to $113.28 a barrel by 12:03 p.m. EDT (1403 GMT), after earlier falling as low as $110.42. U.S. crude rose $1.24 to $88.48.
Wall Street at one point was nearly flat on Monday as European bank shares recovered after early losses and technology stocks regained their footing. .N
Worries ...
Title:
Brent drops to around $112 on debt, growth worries
(Reuters) - Brent crude oil fell on Monday on deepening concerns over Europe's sovereign debt crisis and slowing global growth.
Worries increased that Greece may default on its debts after finance ministers of the Group of Seven (G7) industrialized economies pledged a joint response to the slowdown but offered nothing specific to help their economies.
Brent futures fell as much as $2.35 per barrel to a low of $110.42 but then recovered sharply to around $112.40 by 1410 GMT. U.S. crude slid $2.24 to a low of $85.00 and then moved back up to around $88.04, up 80 cents.
Stock markets fell in Asia, Europe and the United States. .N .EU .HK.
"Worries over the future of the euro zone and over much slower growth are putting enormous pressure on commodity prices," said Christophe Barret, global ...
|