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Gbp/usdTitle:
Euro gain force on technical movements…
Today on a daily scale the euro and the pound lost considerable strength on a daily base since that worries persisted on the EU soil and in Greece above all with global investors and traders awaiting patiently for a resolution and pledge to the political impasse in Greece and as Spanish credit risk surged, which have also led the EU shares to fluctuate within its closing session and made the US shares plummet considerably in its midday session.
Yet on the four-hour and one-hour charts the euro along with the pond were able to gain back some of the strength loss throughout the day mainly on technical movements taking place recently throughout the stock market.
Accordingly the Dollar index which measures the performance of the U.S. dollar against a basket of currencies including the Euro, ...
Title:
Dukascopy Afternoon Forex Overview : 04/09/2012
Dukascopy Fundamental Analysis
EUR
European stocks dropped for a second day, to the lowest level in almost four months, as investors awaited a resolution to the political impasse in Greece and as Spanish credit risk surged. The Stoxx Europe 600 Index (SXXP) lost 1.1 percent to 247.75 at 2:15 p.m. in London, the lowest since Jan. 13, as the euro weakened for an eighth day. The Stoxx 600 has tumbled 9 percent from this year’s high on March 16, trimming this year’s advance to 1.3 percent.
USD
U.S. stock futures retreated, indicating the Dow Jones Industrial Average will drop for a sixth straight day, as Greece’s political impasse intensified concern about a worsening of the European sovereign-debt crisis.
GBP
U.K. retail sales fell the most in more than a year last month as poor weather ...
Title:
Risk Aversion Boosts the USD, JPY
USD trading broadly higher (except against the JPY) as the Greek political impasse is raises concerns and increases risk aversion. The IMF remained firm saying that Greece must deliver necessary economic reforms and that it is not acceptable for the country to seek laxer loan terms. German officials are speaking out as well calling the latest developments ‘very worrying' and saying that Greeks must decide whether or not they want to stay in the euro. It is another light day for economic data in the US with weekly mortgage applications rising by +1.7% and March wholesale inventories due out at 1000ET. UST yields continues their descent across the curve with the 10-year yield falling below the 1.80% level as a result of both increased risk aversion and increased speculation of QE3. The ...
Title:
Technical look at the majors
Currencies on the brick of breaking key multi-week technical levels, while the greenback continues to command. The USDIX has broken a key descending trend line today, after forming a bottom at the main ascending support of the ascending channel. This breach could be the start of something bigger, as the longer term outlook shall point towards an initial rally towards 2012 high at 81.69.
The EUR/USD has penetrated the key support and psychological level at 1.3000-1.2972, currently trading below 1.2935. If the pair manages to hold below this key level for today, a downside move towards 1.2625 lows may be inevitable, while the bearish bias shall remain intact so long as 1.3100 is holding.
The GBP/USD fell sharply today, currently testing the key support and previous high around 1.6060. A ...
Title:
Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
Upside rejection at 1.3060 zone and quick reversal under 1.3000 handle, confirms the pair being under heavy pressure. Overnight’s easing touched levels just few ticks ahead our initial target and strong support at 1.2953, with negative sentiment setting scope for fresh bear phase. Break below 1.2953 to expose 1.2900 and 1.2875. Potential corrective attempts should be capped at 1.3040/60 are and only clearance of 1.3100 would provide near-term relief.
Res: 1.3000, 1.3040, 1.3063, 1.3080
Sup: 1.2964, 1.2953, 1.2930, 1.2900
GBP/USD
Near-term attempts to base above recent low and Fibonacci support at 1.6113, remains in play, however, still weak near-term studies, keep the immediate focus at the downside, as daily studies started to point lower. Break below 1.6120/00 support zone ...
Title:
Dukascopy Morning Forex Overview : 09/05/2012
Fundamental Analysis
EUR
"The debt crisis damps demand for German products in Europe but Russia, China, India, Brazil and South Africa should generally be able to compensate declining sales."
- Gerd Hassel, an economist at BHF Bank AG
German industrial production unexpectedly soared in March, adding to signs the euro zone’s largest economy is weathering debt crisis. Production jumped 2.8 per cent from February, when it declined 0.2 per cent, said the Economy Ministry on Tuesday.
USD
"People are preparing for a shock that may or may not occur."
- Michael Holland, chairman and founder of New York-based Holland & Co.
U.S. stocks fell on Tuesday as Greece’s bailout pledge came into question.
GBP
"The health of the housing market is a reverberation of consumer confidence and credit ...
Title:
Greece retains focus; Aussie continues to weaken
Forex Morning Briefing : Greece retains focus; Aussie continues to weaken
What’s new:
Asia: Asian and US equities remain in negative territory
Greece: Still unable to form a coalition government
Spain: Government expected to unveil banks’ plans on Friday
Forex: AUD/USD approaching parity, fresh 2012 lows
Forex: JPY still attracting support as carry trades unwind
Rates in Asia and Indices:
EUR/USD 1.2965 1.3008 -0.15 %
USD/CHF 0.9234 0.9263 -0.15 %
GBP/USD 1.6129 1.6163 -0.13 %
USD/JPY 79.72 79.94 0.10 %
EUR/CHF 1.2010 1.2013 0.00 %
EUR/JPY 103.4 103.94 0.27 %
Dow Jones 12810.39 13000.73 -0.58 %
Nasdaq 2587.53 ...
Title:
Slow News Day May Lead to Further Euro Losses
The euro remained relatively unchanged vs. its main rivals throughout the European session yesterday, as political uncertainty in the euro-zone kept the currency near its recent lows. After dropping as low as 1.3000 during early morning trading, the EUR/USD spent most of the day trading around 1.3010. Turning to today, a slow news day may lead to low liquidity in the marketplace. Traders will want to note that a low liquidity environment can often lead to unexpected price shifts for seemingly no reason. Given the euro's recent bearish trend, the possibility for further downward movement for the common currency exists.
Economic News
USD - Dollar Remains Bearish vs. JPY
The US dollar remained below the psychologically significant 80.00 level vs. the Japanese yen throughout yesterday's ...
Title:
Forex Technical Analysis : 05/09/2012
- Forex Technical Analysis : 05/09/2012 -
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