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Its Bearish MovementTitle:
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 ...
Title:
Lack of Greek Deal Sends EUR Tumbling
The euro was largely bearish yesterday, after Greece once again failed to come to an agreement with its creditors to restructure its debt. Losses were seen against most of its main currency rivals, including the US dollar, Japanese yen and British pound. Today, in addition to any euro-zone developments that may occur, traders will want to pay attention to a speech from the US Fed Chairman at 15:00 GMT. Any positive statements could help the USD extend its recent bullish trend.
Economic News
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Technical analysis of the NZD/USD pair on February 7th, 2012
Commentary of the NZD/USD pair :
After a pullback yesterday on the support at 0.83, the pair NZD/USD took up its bullish movement into its bullish channel (black lines).
The pair just filled in the bearish gap of Sunday.
All indicators are bullish.
We continue to advise long positions as far as 0.8238 is support.
The breakout of 0.84 and 0.8450 will both give a new buy signal.
In case of return below 0.8238, we will be neutral between this level and 0.82.
The breakout of 0.82 will give a sell ...
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Greek uncertainty undermines euro, dollar firm
(Reuters) - The euro fell on Monday on mounting investor concern that Greek coalition parties had yet to sign off on the terms of a new bailout, keeping alive the risk of a messy default that could ensnare other countries such as Portugal.
Greece's coalition members must agree to painful terms of a new bailout worth 130 billion euros before euro zone finance ministers next meet, with a Greek government official denying that there was a deadline for the parties to respond to.
A spokesman of the ...
Title:
Greek uncertainty undermines euro, dollar firm
(Reuters) - The euro fell on Monday on mounting investor concern that Greek coalition parties had yet to sign off on the terms of a new bailout, keeping alive the risk of a messy default that could ensnare other countries such as Portugal.
Greece's coalition members must agree to painful terms of a new bailout worth 130 billion euros before euro zone finance ministers next meet, with a Greek government official denying that there was a deadline for the parties to respond to.
A spokesman of the ...
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Positive Jobs Report Boosts USD
The USD saw gains across the board on Friday, following a significantly better than expected US Non-Farm Payrolls figure that helped boost confidence in the US economic recovery. Perhaps most significantly, the USD/JPY came off its recent three-month low. The news calmed fears that the Bank of Japan would soon intervene to limit yen growth. This week, Greece is likely to be back in the headlines as investors eagerly await news of a possible debt-swap deal. Any positive developments are likely ...
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Technical analysis of the USD/CAD pair on February 6th, 2012
Commentary of the USD/CAD pair :
After a pullback on the resistance at 1.0 on last friday, the pair USD/CAD continues its bearish movement into its bearish channel (purple lines).
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 1.0039 is resistance.
The breakout of 0.9950 and 0.99 will both give a new sell signal.
In case of return above 1.0039, we will be neutral between this level and 1.0079. ...
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US Non-Farm Payrolls Set to Generate Heavy Volatility
Today's US Non-Farm Payrolls figure, widely considered the most significant economic indicator on the forex calendar, is set to generate heavy trading today. At the moment, analysts are predicting that the US added somewhere around 150K jobs in January. Should the final result come in below expectations the USD may come under renewed pressure to close out the week.
Economic News
USD - Negative Euro-Zone News Gives USD Temporary Boost
Fresh concerns regarding Greece's debt negotiations sent ...
Title:
USD/JPY Hits 3-Month Low amid Poor US News
The USD/JPY hit a fresh 3-month low today, as worse than expected news out of the US continued to weigh down on the pair. Rumors have begun circulating that the Bank of Japan (BOJ) may soon intervene in the currency market to limit yen growth. Today, traders will want to once again monitor US economic indicators. Specifically, the weekly US Unemployment Claims figure and a testimony from the Fed Chairman are likely to create market volatility.
Economic News
USD - Dollar Continues to Tumble ...
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