Gbp/usd Improves The Near

Fundamental Analysis EUR "The outlook for the industrial sector is bleak" - Martin van Vliet, an economist at ING Group Euro-area industrial production unexpectedly rose in February, even as the region’s economy continued to slide into a recession. Production increased 0.5 per cent from January, said the European Union’s statistics office in Luxembourg on Thursday. USD "Import prices were certainly a problem for businesses in the last three months, but we’ve seen those pressures ease" - Jacob Oubina, a senior U.S. economist at RBC Capital Markets LLC The number of Americans claiming for unemployment benefits rose to 380 thousand in the week ended April 7 from the week before, said the Department of Labor on Thursday. GBP "Concern persists that U.K. exports will be limited in the near ...

Dukascopy Fundamental Analysis EUR Thousands of people in Spain are going participate in the general strike against the new reform. The reform stipulates reduction of the maximum severance payment to 33 days' remuneration from 45 days currently provided. The measure is aimed at combating with unemployment and saving billions of Euros for the country. However, labour unions claim the legislation will ease firing for the companies. USD US unemployment claims increased sharply last week to 359K despite positive sentiment on the market and analyst consensus forecast of 351K. The latest reading indicates a sharp increase of this indicator, as the previous week's reading stood at 348K. GBP The average house price in the UK declined by 1% this month while taken annualized rate home prices ...

EUR/USD The pair remains supported, as yesterday’s brief test of strong support zone at 1.3300/1.3280 was followed by bounce higher. Break above overnight’s range top at 1.3330 in early hours of European session, would signal fresh strength and possible attack at upside barriers at 1.3372/84, to open way for gains above 1.3400, psychological barrier and test of key short-term target at 1.3485. Near-term studies are pointing higher, with 20 day EMA at 1.3310, underpinning the advance. Only loss of 1.3260/50, 55 day EMA / main bull trendline off 1.3000, would weaken the near-term structure. Res: 1.3360, 1.3372, 1.3384, 1.3400 Sup: 1.3310, 1.3300, 1.3290, 1.3280 GBP/USD Pullback from 1.6000 peak, lost important supports at 1.5920/00, to dip below 1.5857, Fib 61.8% of 1.5769/1.6000 upleg, ...

EUR/USD Steady recovery off last week’s 1.3000 low surged through 1.3190/1.3200 barriers on yesterday’s strong rally, to break above 50% retracement of 1.3485/1.3000 downleg and reach 1.3264 high so far. The pair holds above 1.3200 handle for now, as slight easing on overbought hourly studies was seen during the Asian session. Near-term studies remain positive, as 20 day EMA crossed above 55 day EMA on 4H chart, with hourly 20 day EMA holding the price for now. Immediate targets lie at 1.3290/1.3300, 08 Mar high / Fib 61.8%, above which to open way towards recent highs of end of Feb. Previous highs at 1.9190 zone offer strong support, ahead of yesterday’s low at 1.3141, loss of which would delay. Res: 1.3243, 1.3264, 1.3290, 1.3300 Sup: 1.3224, 1.3200, 1.3190, 1.3141 GBP/USD Daily ...

EUR/USD Improves the near-term tone after recent losses found support at 1.3080 zone and subsequent bounce cleared initial resistances at 1.3130/50. Price reached high at 1.3190 during Asian session, just ahead of 1.3200, figure resistance and 55 day EMA, clearance of which is required to open next barriers at 1.3250 and possible test of key near-term barrier at 1.3290, 08 Mar high. Hourly studies hold positive tone, after pullback from 1.3190 found footstep at 1.3150, where 20 and 55 day EMA’s contained dips for now, with price action required to hold above here to keep near-term focus at the upside. Next supports lie at 1.3130/00, with key one at 1.3077. Res: 1.3190, 1.3200, 1.3231, 1.3255 Sup: 1.3147, 1.3130, 1.3100, 1.3077 GBP/USD Near-term price action moves in a consolidative ...

EUR/USD Has regained some ground after yesterday’s weakness was contained at key near-term support and range floor at 1.3025. The downside remains vulnerable, as long as key barriers at 1.3200/32 cap the upside. This morning’s fresh strength probed levels above bear-trendline at 1.3160, however, sustained break here is required maintain fresh strength off 1.3025 for possible attack at 1.3200/32. Hourly studies are turning positive, with 20 day SMA at 1.3110, underpinning. On the downside, break below 1.3100/1.3088, to signal an end of recovery attempt and re-focus key near-term support at 1.3025. Res: 1.3080, 1.3100, 1.3130, 1.3166 Sup: 1.3025, 1.3000, 1.2953, 1.2930 http://mediaserver.fxstreet.com/Reports/325f5b3f-7a7d-4768-8193-afec3573778f/eurusd_20120207092944.gif GBP/USD Improves ...

EUR/USD Continues to move within 1.3025/1.3200 range, after repeated failure to reclaim previous peak at 1.3232. Near-term tone is showing the downside pressure, as the pair opened with gap lower and continues to move lower. Break below initial support and higher base at 1.3085/65, now looks for test of next levels at 1.3025/00, 01 Feb low / Fib 38.2% of 1.2622/1.3232 ascend, below which would question short-term bulls and open way for further retracement towards next significant support at 1.2930, 25 Jan low / Fib 50%. Near-term studies are in the negative territory, with dailies starting to point lower and price breaking below 55 day SMA, keeping the upside targets out of reach for now. On the upside, filling the overnight gap and regain of 1.3135, 20 day SMA, is required to improve the ...

The SEK was up after the Riksbank lowered interest rates to 1.75% from 2.00%. There are two explanations for this counterintuitive move in the SEK. Firstly, the Swedish central bank delivered on the expected 25 bp of monetary policy easing while refraining from a larger policy change. Secondly, risk sentiment improved following a strong Ifo survey and a successful Spanish bond auction. Economic News SEK - SEK Strengthens Despite Interest Rate Cut The SEK was up after the Riksbank lowered interest rates to 1.75% from 2.00%. There are two explanations for this counterintuitive move in the SEK. Firstly, the Swedish central bank delivered on the expected 25 bp of monetary policy easing while refraining from a larger policy change. Secondly, risk sentiment improved following a strong Ifo ...

EUR/USD The near-term outlook improves after sharp rally from past two days consolidation range floor at 1.3250 zone, surged through 1.3440, previous high and 1.3500/10, psychological barrier / Fib 50% of 1.3810/1.3211 downleg, to hit fresh one-week high at 1.3532. Hourly / 4-hour studies are supportive for further extension and possible test of next key barrier at 1.36 zone, Fib 61.8% / 18 Nov high, however, overbought conditions, suggest corrective pullback may precede fresh rally. Previous high at 1.3440 offers initial support, while dips should be contained above 1.3400, to keep current structure intact. Res: 1.3532, 1.3567, 1.3580, 1.3600 Sup: 1.3440, 1.3410, 1.3400, 1.3370 GBP/USD Jumps higher after pullback from yesterday’s fresh high at 1.5655 was contained at broken bear- ...