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Give A SellTitle:
Technical analysis of the EUR/JPY pair on July 14th, 2011
Commentary of the EUR/JPY pair :
The pair EUR/JPY just made a pullback on 113 as resistance.
Indicators stay globaly bearish.
We maintain to trade only short positions as far as 113 is resistance.
The breakout of 111 will give a new sell signal and open the way towards 110.
In case of return above 113, we will wait the breakout of 114 to advise long positions.
See the previous analysis of the EUR/JPY pair of July 13th, 2011
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Technical analysis of the GBP/JPY pair on July 14th, 2011
Commentary of the GBP/JPY pair :
The pair GBP/JPY failed to break the support at 126 and a correction occured.
We maintain to trade only short positions as far as 127.50 is resistance (level which is currently tested).
The breakout of 126 will give a new sell signal and open the way towards 125.
However, if 127.50 is broken, we will be neutral between this level and 128.47.
See the previous analysis of the GBP/JPY pair of July 13th, 2011
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Technical analysis of the USD/CAD pair on July 14th, 2011
Commentary of the USD/CAD pair :
The pair USD/CAD got out of its neutral zone 0.9619/0.9678 from the bottom, giving us a sell signal.
Currently, the pair is testing the support at 0.9580.
We maintain to trade only short positions as far as 0.9650 is resistance.
The breakout of 0.9580 will give a new sell signal and open the way towards 0.9550.
However, if 0.9650 is broken, we will be neutral.
See the previous analysis of the USD/CAD pair of July 13th, 2011
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Technical analysis of the USD/CHF pair on July 14th, 2011
Commentary of the USD/CHF pair :
A bearish rallye occured on the pair USD/CHF which broke all supports at 83, 82.50 and 82, giving us all a new sell signal.
0.8120 then gave support.
We maintain to trade only short positions as far as 0.8250 is resistance.
The breakout of 0.8120 will give a new sell signal and open the way towards new historical lowest.
However, if 0.8250 is broken, we will be neutral.
See the previous analysis of the USD/CHF pair of July 13th, 2011
Title:
Technical analysis of the USD/JPY pair on July 14th, 2011
Commentary of the USD/JPY pair :
The pair USD/JPY continued its bearish movement and the breakout of 79 gave us a new sell signal.
Then, the support at 78.50 has been again tested and a pullback occured on 79.55 before a return on 79.
The volatility is currently strong on the pair.
We maintain to trade only short positions as far as 79.55 is resistance.
The breakout of 78.50 will give a new sell signal and open the way towards 78.
However, if 79.55 is broken, we will be neutral.
See the previous analysis of the USD/JPY pair of July 13th,, 2011
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Why an Economic Downturn Begets a Technological Renaissance
The Old World is looking older by the day, as most European stock markets fell yesterday for the sixth time in seven days. Here in the New World, the Dow Jones Industrial Average tried to buck the trend, but did not succeed.
Around midday in New York, the Federal Reserve issued fresh assurances that it stands at the ready – if the economy continues struggling – to do even more of what hasn’t worked. The Dow jumped about 70 points on the news, but failed to hold its gains. By day’s end, the Dow was down 59 points at 12,447.
According to the newswires, the Dow fell late in the day because Moody’s downgraded Ireland’s credit rating to “junk” – making the Emerald Isle the third of the five PIIGS nations to suffer this particular ignominy. Moody’s downgraded Portugal to junk about one week ...
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Forex - Chinese Data Gives Market Hope
Forex News and Events:
Cowboys and bargain hunters stepped in the market to give risk appetite a boost. Asian regional indices were higher across the board, with Shanghai leading the way up 1.46%. The correction in risk was good buffer, allowing everyone a moment to take a deep breath in a market that was becoming very negative. USD came under selling pressure, with the EURUSD able to climb back above the 1.4000 handle and USDJPY hitting stops at 79.00, and briefly running to 78.49. The thin summer liquidity caused choppy patterns and exacerbated trader’s apprehension. On the bright side strong China data across the board GDP 9.5% vs. 9.4% exp, Retail sales 17.7% vs. 17% exp, while Industrial Production hit 15.1% vs. 13.1% exp, supported risk accumulation. However, the more entrenched ...
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Chinese economic data stronger than expected
FUNDAMENTAL OUTLOOK at 0800 GMT (EDT +0400)
USD
Risk appetite held steady during the Asia session, helped in part by stronger than expected Chinese economic data. EURUSD traded 1.3951-1.4054 and USDJPY traded 78.50-79.58. However, in another sign that the currency union’s woes are only beginning, Moody’s has downgraded Ireland to Ba1, or junk status, citing concerns that there could be further pressure on the sovereign from a disorderly default, or if the Irish government were unable to meet its targeted fiscal consolidation goals. Given that the ECB had waived collateral rules for Irish debt in Q1, the impact was not as significant as that on Portugal, but we expect headlines to remain negative for the euro in general. There is particular concern over whether the European Union is in ...
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Dukascopy Morning Forex Overview : 13/07/2011
Previous session overview
The dollar dropped to a four-month low against the yen in Asia Wednesday, as talks on the U.S. debt ceiling became bumpier, while mounting concerns over contagion of euro-zone debt problems left the Japanese currency as the least unattractive option.
In thin trade early Wednesday morning in Asia, the dollar fell to JPY78.48, its lowest since March 17. Yet unlike that day, when the greenback's slide to a post-World War II low at JPY76.25 ramped up pressure for intervention-which came the following day-Japan's currency authorities seemed unlikely to wade into the market for now.
Another reason Japan's finance ministry, which decides the country's currency policy, is unlikely to order up intervention now is that the yen's strength hasn't prompted any sharp sell- ...
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