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Giving Us A SellTitle:
Technical analysis of the EUR/USD pair on May 7th, 2012
Commentary of the EUR/USD pair :
The pair EUR/USD has opened the week on a bearish gap and has validated the breakout of 1.3150/1.31/1.3050, giving all a new sell signals.
The pair just found support on the lower band of its bearish channel (purple lines).
All indicators are bearish.
We continue to advise short positons as far as 1.31 is resistance.
The breakout of 1.30 and 1.2950 will both give a new sell signal.
In case of return above 1.31, we will wait the breakout of 1.3150 to advise long positions.
See the previous analysis of the EUR/USD pair of May 4th, 2012
EUR/USD Analysis
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Technical analysis of the USD/CAD pair on May 7th, 2012
Commentary of the USD/CAD pair :
The pair USD/CAD broke last friday the resistance at 0.9925, giving us a buy signal.
The pair got out of its bearish channel (purple lines) and has just validated the breakout of the resistance at 0.9965.
All indicators are bullish.
We continue to advise long positions as far as 0.9911 is support.
The breakout of 1.0020 will give a new buy signal and will open the way towards 1.0050.
In case of return below 0.9911, a sell signal will be given.
See the previous analysis of the USD/CAD pair of May 4th, 2012
USD/CAD Analysis
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UK Economic Woes Continue To Mount
After plunging back into recession in the first quarter of 2012, UK data at the start of the second quarter hasn't been particularly encouraging. Today the manufacturing PMI survey for April was weaker than expected at 50.5 down from a revised 51.9 in March, which was the lowest level since December. The biggest decline was in the export sector, as the UK's largest trading partner, the Eurozone, suffers from its own economic and sovereign woes. However, what was worrying is that new orders to Asia and the US also fell sharply, which is concerning as they may not be able to balance out the weak growth coming from Europe.
Could the BOE expand QE?
This report is the first of three April PMI surveys released over the coming days and the results for the construction and services sectors will ...
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Technical analysis of the GBP/JPY pair on May 1st, 2012
Commentary of the GBP/JPY pair :
The pair GBP/JPY has broken yesterday the support at 130.15, giving us a sell signal.
All indicators are bearish.
We continue to advise short positions as far as 130.50 is resistance.
The breakout of 128.85 will give a new sell signal and open the way towards 127.70.
In case of return above 130.50, we will be neutral between this level and 131.
The breakout of 131 will give a new buy signal.
See the previous analysis of the GBP/JPY pair of April 30th, 2012
GBP/JPY Analysis
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Technical analysis of the NZD/USD pair on May 1st, 2012
Commentary of the NZD/USD pair :
The pair NZD/USD has failed to break the resistance at 0.8235 and got back below 0.8180, giving us a sell signal.
The pair is going to test the support at 0.8134.
Indicators are mitigated.
We maintain to trade the pair according to the key level at 0.8180 :
- Long above this level. The breakout of 0.8235 and 0.8283 will both give a new buy signal
- Short below this level. The breakotu of 0.8134 and 0.81 will both give a new sell signal.
See the previous analysis of the NZD/USD pair of April 30th, 2012
NZD/USD Analysis
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Dollar softer, but euro fails get a boost
(Reuters) - The dollar briefly fell to a two-month low against a basket of currencies on Monday, hurt by signs that the U.S. economic recovery was losing momentum, which keeps alive the chances of further monetary easing by the Federal Reserve.
Despite the dollar's problems, the euro failed to gain much traction, with investors looking to sell at higher levels as harsh austerity measures take a toll on economic activity across the region.
Spain slipped back into recession as gross domestic product shrank 0.3 percent in the January to March quarter, data showed on Monday. Traders were likely to be wary of the euro ahead of the second round of the French presidential vote as well as elections for a new Greek parliament next weekend.
The dollar .DXY touched 78.638 against a basket of ...
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London Session: Another Week Another Round Of European Downgrades
Spain was in focus this morning after rating agency Standard & Poor's downgraded 11 of Spain's largest banks, which comes only a few days after the agency cut Spain's sovereign rating to BBB+ with a negative outlook. The bank/ sovereign feedback loop is getting more and more toxic for Spain. Like Ireland, bad bank debts seem to lead back to the government, while Spanish banks see their capital bases eroded when Spanish bonds weaken since they hold so much domestic sovereign debt. The only 'good' news was that Spain's official GDP figures for Q1 were slightly less bad than expected. The economy contracted by 0.3% rather than the 0.4% that was forecast by the market (and announced by the Bank of Spain 2 weeks ago). It's difficult to know why there was an improvement as the bulk of the detail ...
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Dollar hits two-month low as U.S. economic momentum slows
(Reuters) - The dollar fell to a two-month low against a basket of currencies on Monday, weighed down after modest first quarter growth in the U.S. economy kept alive chances of further monetary easing by the Federal Reserve.
The dollar is likely to come under more pressure if data, including U.S. jobs numbers, this week disappoints. U.S. growth cooled in the first quarter partly due to businesses cutting back on investments, reinforcing the central bank's contention that interest rates should be kept near zero through 2014.
The slowdown fuelled speculation that the Fed may eventually launch another bond buying program, or a third round of quantitative easing. That would likely have a negative effect on the dollar while giving riskier assets like stocks, commodities and higher-yielding ...
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Technical analysis of the EUR/GBP pair on April 30th, 2012
Commentary of the EUR/GBP pair:
The pair EUR/GBP just validated the breakout of the support at 0.8150, giving us a new sell signal.
The pair is still moving into a bearish channel (purple lines).
All indicators are bearish.
We continue to advise short positions as far as 0.8180 is resistance.
The breakout of 0.81 will give a new sell signal and open the way towards 0.8050.
In case of return above 0.8180, we will be neutral between this level and 0.8220.
The breakout of 0.8220 will give a buy signal.
See the previous analysis of the EUR/GBP pair of April 26th, 2012
EUR/GBP Analysis
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