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Gave Us A SellTitle:
Dukascopy Afternoon Forex Overview : 07/02/2012
Fundamental Analysis
EUR
17-nation currency slipped against most of its peers before Greece's PM Papademos meets with politicians from three leading parties as officials still cannot agree on debt reduction plan. The meeting scheduled on Tuesday. Greece representatives and creditors still have to agree on EUR 600 million of fiscal measures for this year. Euro declined 0.2% to USD 1.3109 in London trade. Currently EUR/USD is trading at USD 1.3116.
USD
US President Obama ordered to freeze all ...
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Gains in Asia on US jobs data; Greece’s talks in focus
Investors in Asia widened their appetite for risk on Monday as the US economy provided on Friday more signs of recovery which improved hopes for Asian companies, while in Greece, debt restructuring talks will continue ahead of today’s deadline, in an attempt to reach deal that will ensure a second bailout.
On Sunday, after a five-hour meeting, Greek Prime Minister Lucas Papademos reached an interim agreement with political parties on budget-cutting measures demanded by the international ...
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Technical analysis of the GBP/USD pair on February 2nd, 2012
Commentary of the GBP/USD pair :
After have taken support on 1.5749, a new bullish acceleration occured on the pair GBP/USD and the breakout of the resistance at 1.58 gave us a new buy signal.
THe pair continues to move above its short term bullish slant (black line).
All indicators are bullish.
We continue to advise long positions as far as 1.57 is support.
The breakout of 1.59 will give a new buy signal and open the way towards 1.60.
In case of return below 1.57, we will be neutral between ...
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Technical analysis of the NZD/USD pair on February 2nd, 2012
Commentary of the NZD/USD pair :
The pair NZD/USD has continued its bullish movement and the breakout of 0.83 gave us a new buy signal.
Currently, the pair is testing the upper band of its bullish channel (black line).
All indicators are bullish.
We continue to advise long positions as far as 0.8238 is support.
The breakout of 0.8350 and 0.84 will both give a new buy signal.
In case of return below 0.8238, we will be neutral between this level and 0.8150.
The breakout of 0.8150 will give a sell ...
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Technical analysis of the USD/CAD pair on February 2nd, 2012
Commentary of the USD/CAD pair :
After a test yesterday of the resistance at 1.0050 and also of the upper band of its bearish channel, the pair USD/CAD took up its bearish movement and the breakout of 1.0 gave us a new sell signal.
All indicators are bearish.
The pair is still moving below its medium term bearish slant (black line).
We continue to advise short positions as far as 1.0050 is resistance.
The breakout of 0.9950 and 0.99 will both give a new sell signal.
In case of return above 1. ...
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Manufacturing Growth Continues
I have to tell you what’s on my mind this morning after watching the price action again yesterday… I know, it’s just me, and no one else in the writing/analyst world will tell you this, because they have no proof… I don’t either, but that never stops me from saying what’s on my mind regarding these markets now, does it?
After watching time and time again, the overseas markets take the dollar to the woodshed, and then when the New York traders come in, the price action all gets reversed. I ...
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European shares rise on Greece optimism
(Reuters) - European shares rose on Wednesday, helped by a boost to bank stocks from hopes of an agreement in Greek debt swap talks and better-than-expected Chinese manufacturing data.
Earnings, which have so far only given mixed results, were another focus, with Infineon (IFXGn.DE) rising 5.5 percent, near the top of the leaderboard after the German chipmaker reported forecast-beating results.
Banks, many of which have exposure to euro zone sovereign debt, featured among the best performers, ...
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A better-than-expected China PMI gives AUD a temporary boost
FUNDAMENTAL OUTLOOK at 0800 GMT (EDT +0400)
USD
The price action overnight was largely driven by a better-than-expected China PMI which gave AUD a modest but temporary boost. The euro meanwhile remained under downward pressure as investors digested yesterday’s news reports suggestingGreeceis resisting further austerity measures to bring debt down to sustainable levels, and that negotiations on this front are likely to make slow progress. This is a timely reminder that the proposed bond swap is ...
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Technical analysis of the USD/JPY pair on February 1st, 2012
Commentary of the USD/JPY pair :
The pair USD/JPY has continued its strong bearish rally and the breakout of 76.40 gave us a new sell signal.
All indicators are bearish.
We continue to advise short positions as far as 76.65 is resistance.
The breakout of 76 and 75.50 will both give a new sell signal.
In case of return above 76.65, we will be neutral between this level and 76.97.
The breakout of 76.97 will give a buy signal.
See the previous analysis of the USD/JPY pair of January 31th, ...
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