ForexTribe is a french website mainly created to share graphic analysis and trade ideas on the Forex Forum.
Its Former BullishTitle:
Forex - …and endless liquidity for all
Forex News and Events:
This was the message we took away from yesterday’s FOMC press conference. Judging by the FX market’s reaction in the Asian session - traders also view that the Fed will likely keep rates on hold of the foreseeable future. USD selling was the only trend that participants were considering with the greenback weakening across the board.
EURUSD took out the 1.4800 barrier with little resistance heading further on its directional march to 1.4882. AUDUSD surged to new highs of 1.0980 as yield-starved traders piled into the commodity and interest rate differential trade.
Local Asian currencies were accumulated against the USD; however there was limited chatter about any role of Asian central banks in smoothing the one-sided trade - it looks as if the bankers are going ...
Title:
Forex - The Week Ahead Will Prove Crucial For USD Bears
Forex News and Events:
It has been a quiet start to the week as much of Europe remains out on the Easter break, and only housing data decorates the economic calendar later this afternoon. However, the upcoming week does promise some key events which should compensate for the lack of volatility at present, and test the market’s bearish resolve towards the US dollar. Of key importance will be the FOMC policy meeting on Wednesday and then Bernanke’s press conference shortly afterwards. In particular, markets will be focussed on whether the Fed Chairman signals the end of QE2 in June as expected. If he fails to provide confirmation of this, or offer clear exit strategies, then it is likely the USD will face another rout in the near term. US GDP data for Q1 is due on Thursday, but it is ...
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Technical analysis of the NZD/USD pair on April 22th, 2011
Commentary of the NZD/USD pair :
The pair NZD/USD validated the breakout of the resistance at 0.80, giving us a new buy signal but is still moving below its former bullish slant. The next resistance is at 0.81. We maintain to trade only long positions as far as 0.7950 is support. The breakout of 0.81 will give a new buy signal.
See the previous analysis of the NZD/USD pair of April 21th, 2011
Title:
Forex - US Corporate Earnings Help Risk Appetite Rally
Forex News and Events:
Risk appetite has come surging back across the board this morning. The catalyst is debatable but perhaps it was the strong earnings reports by US companies or the realization that Europe was not truly on the edge of the abyss any many short-sighted analysts were predicting. Interestingly, the idea that should European peripherals move toward restructuring, the overall effect might become a healthier and better functioning EU, which would be Euro positive
To support this growing confidence, Portugal and Spain both conducted successful debt auctions yesterday. The Euro again shook off sovereign fears to continue charge higher. EURUSD climbed to 1.4642, AUDUSD rose to 1.0776 and USDCHF dropped to a new all time low of 0.8810. WTI rallied to $112.48 and Gold ran to $ ...
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Technical analysis of the NZD/USD pair on April 21th, 2011
Commentary of the NZD/USD pair :
The pair NZD/USD continued its bearish movement and broke the resistance at 0.7950 giving us a new buy signal. Currently, the pair is testing the resistance at 0.80 and also its former bullish slant. We maintain to trade only long positions as far as 0.7950 is support. The validation of the breakout of 0.80 will give a new buy signal. The next resistance is at 0.81.
See the previous analysis of the NZD/USD pair of April 20th, 2011
Title:
Forex - Greek Rumors Driving FX
Forex News and Events:
Risk continues to trade warily in Europe with regional equities in decline following Asia’s fall this morning. Two stories have been driving FX pricing over the last 24 hrs. First is the frenzied chatter and speculations surrounding the prospect of Greek debt restructuring. At one point in yesterday’s session, Greek 2 yr yields climbed above 20%, the highest on record among developed nations and CDS prices went ballistics trading up to 1558 bps. However, contagion within the EU has clearly taken hold with Portugal’s debt yields also hitting new highs while CDS prices in the peripherals climbed across the board. Comments such as that by an unnamed German government official suggesting that Greece would not last the summer without restructuring its debt helped push ...
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Euro falls on profit taking, Asian stocks flat
The euro weakened on a broad wave of profit-taking on Monday though could rebound later in the day, while stocks in Asia ex-Japan remained flat, with investors unconvinced that China's latest moves to cool its economy would hurt the global recovery.
A raft of news about Europe's tenuous debt situation, including Finland's anti-euro party making big gains in a parliamentary election on Sunday and talk of a Greek debt restructuring, gave cover to traders hoping to take profits after the euro rose above $1.4500.
"This probably mostly has to do with market sentiment. In the end, I think what it probably boils down to is that there are still some long positions in the euro," said Koji Fukaya, director of global foreign exchange research for Credit Suisse Securities in Tokyo, referring to the ...
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Stocks take China tightening in stride, euro falls
Asian stocks rose on Monday as investors bet that China's latest round of policy tightening won't dent prospects of a global economic recovery while the euro weakened on a broad wave of profit-taking.
China on Sunday raised banks' reserve requirements for the fourth time this year. The move was not a surprise as market players had predicted more tightening after last week's data showed an acceleration in inflation.
Beijing's latest policy action is a sign that authorities across the region are intensifying their battle, using interest rate increases and strengthening currencies, to rein in imported inflation due to rising commodity prices.
Singapore sanctioned an increase in the value of its currency last week while the Bank of Thailand is likely to raise interest rates at a review on ...
Title:
Forex - Heavy Calendar Tomorrow Keeps FX Subdued Today
Forex News and Events:
Very quiet Asian session in FX trading. New flow once against this week basically ground to a halt as traders seem reluctant to put on directional trades. Overall we remain constructive on the environment for risk correlated trades and macro risk looks to be fading into the background and the fears that the Fed will suddenly shift gears ending the world reliance on the cheap & endless liquidity. That said the highlight o f the trading day will be a slew of Fed speaks that the market will be monitoring every word for hints that a psychological adjustment is taking place within the Fed. Yet with none of the “dovish three” speaking (Bernanke, Dudley and Yellen) impact will should be limited. EURUSD was able to regain the 1.4500 handle and USDJPY run at 83.20 was fell ...
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