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LongTitle:
Technical analysis of the EUR/USD pair on June 14th, 2011
Commentary of the EUR/USD pair :
The pair EUR/USD found support yesterday just above 1.43 on the fibonaccci retracement 50% of the last bullish movement (not drawn on the chart).
The pair is going to validate a return above 1.44.
All indicators are still bearish.
We now advise to trade only short positions as far as 1.4450 is resistance.
The breakout of 1.43 will give a new sell signal and open the way towards 1.42.
However, if 1.4450 is broken, we will wait the breakout of 1.45 to trade long positions.
See the previous analysis of the EUR/USD pair of June 13th, 2011
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Technical analysis of the GBP/JPY pair on June 14th, 2011
Commentary of the GBP/JPY pair :
A correction occured on the pair GBP/JPY which is currently testing the resistance at 132.
We are neutral on the pair between this level and 131.18 (level 50%).
We advise to wait an exit of this range to take position:
- Long if 132 is broken. The breakout of 132.50 will give a new buy signal
- Short if 131.18 is broken. The breakout of 130.26 will give a new sell signal.
See the previous analysis of the GBP/JPY pair of June 13th, 2011
Title:
Technical analysis of the GBP/USD pair on June 14th, 2011
Commentary of the GBP/USD pair :
A strong bullish movement occured on the pair GBP/USD which broke 1.6350.
Currently, we are neutral on the pair between 1.6350 and 1.6450.
We advise to wait an exit of this range to take position:
- Long if 1.6450 is broken. The breakout of 1.65 will give a new buy signal
- Short if 1.6350 is broken. The breakout of 1.63 will give a new sell signal.
See the previous analysis of the GBP/USD pair of June 13th, 2011
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What to Do In Case of Liquidation
The Dow Jones Industrial Average tumbled 172 points last Friday – punctuating another thoroughly forgettable week for American capitalism. Friday’s loss submerged the Dow back below the 12,000 mark, while also producing a sixth straight losing week for the US stock market.
How rare is a six-week losing streak?
During the last twelve years, the US stock market has suffered only five losing streaks of six weeks or more – the last of which occurred in the summer of 2004. In three of those five rare losing streaks, gold and commodities also fell. In the first two such instances – September-October of 2000 and February-March of 2001 – the S&P 500 Index fell 20% or more over the ensuing year…and was still showing losses three years later.
The third of these three instances is underway at the ...
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A Dark Shadow Lights Up the Gold Market
There is a dark shadow hovering over the US dollar and the ability (or, rather, inability) of the US federal government to pay its way in the future.
Below is a chart that shows the percentage of US government income that goes to pay interest on the national debt. It also shows the historical price of gold in real terms.
Before 2010, the chart uses historical data for both gold and the percentage of revenues going to pay interest. In the years ahead, the interest payments are an estimate based on known outstanding US debt and the anticipated rates. It’s just following the math.
As you can see, in the immediate future, interest on the debt will eat up more and more of the overall federal revenue stream. That’s because national debt and interest on that debt are growing far faster than ...
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Buy Gold…or Farmland
My friend Brad Farquhar is the co-founder of Assiniboia Capital in Saskatchewan, which invests in farmland there, among other things. He sends the following note:
“Farm Credit Canada, the biggest ag lender in Canada, publishes a province-by-province report on movements in farmland prices in Canada every six months.
“Of course, we track this and are interested in what they have to say. No great surprises in their new data, but we also played around with it to see what else might pop out at us.
“Sometimes in my presentations I show a chart that demonstrates the correlation (within a range) of the price of gold, oil and farmland in Saskatchewan. The correlation is pretty good. Farmland tends to lag a bit because it is a less-liquid asset class and not quoted daily. Also, one acre of ...
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Inflation Is Coming!
Good day… And a Marvelous Monday to you! It’s not a Marvelous Monday for the currencies, stocks, commodities, the Miami Heat, or my beloved Cardinals… Of course, those two teams will get through their rough patches… But the risk assets… Talk about getting slammed on Friday… Whoa! That was one nasty move, and so, here we are on this Marvelous Monday sifting through the ashes of risk assets that got burned on Friday.
So… Is it over? The selling that came fast and furious on Friday? I guess the only thing that stopped the selling on Friday was simply time ran out on the trading day, and with it being a Friday, there was no Asian market to pick up where the US left off… So… Saturday and Sunday brought out the calmer heads in Asia, and the risk assets of currencies and metals found a bid… Not ...
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Swiss Franc Reaches Record vs. Euro
The Swiss franc jumped to the all-time high against the euro and climbed against other most-traded currencies on concerns that the European Union policy makers won’t be able to reach agreement about measures to deal with the sovereign debt.
German Finance Minister Wolfgang Schaeuble thinks that holders Greek bond should accept longer maturities. European Central Bank President Jean-Claude Trichet, on the other hand, insists that imposing losses on bondholders would be equal to a default. Jean-Claude Juncker, the Prime Minister of Luxembourg and the President of the Eurogroup, tries to find consensus. Juncker said in his interview on Radio Berlin-Brandenburg that the bailout for Greece the participation of investor should be “voluntary”.
Alan Ruskin, the global head of Group-of-10 foreign- ...
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China should set up fund to intervene on yuan: central banker
(Reuters) - China should set up a new fund to carry out currency intervention for the central bank to keep the yuan stable while limiting the inflationary effect of dollar-buying, a senior central bank official said in remarks published on Monday.
Xu Nuojin, the deputy head of People's Bank of China Guangzhou branch, told the official Financial News that China should speed up yuan reforms to "eliminate appreciation expectations" and rein in hot money inflows.
"When there are big changes in market demand and supply that lead to big swings in the yuan exchange rate, the central bank can use the fund to buy and sell to adjust demand and supply so that the exchange rate can move in a targeted range," he said.
That will cut the link between the rise in foreign exchange reserves and yuan ...
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