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Windsor Brokers - Short Term Technical Analysis for Majors (07:30 GMT)
EUR/USD
Resumes short-term uptrend from 1.3836, 12 July low, after gains were capped at 1.4437, last Friday’s high and subsequent correction found support above 1.4300 handle. Fresh rally through 1.4437/40, previous high / main trendline resistance, is attempting through 1.4500 barrier, for test of important resistance at 1.4576, 04 July high, break of which would signal an end of medium-term corrective phase off 1.4938. Overbought near-term studies suggest corrective pullback ahead of fresh strength, with 1.4437 offering initial support and 20 day MA, currently at 1.4374, underpinning the advance. Only loss of 1.4323, yesterday’s higher platform, would delay in favor of stronger reversal.
Res: 1.4521, 1.4552, 1.4576, 1.4600
Sup: 1.4466, 1.4437, 1.4416, 1.4400
http://mediaserver. ...
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Major pairs narrow-trading
So far throughout the U.S session the major pairs traded within narrow ranges as well as during the day as a result mixed sentiments spread due to the current inability of President Barack Obama and Congress to reach a final agreement on raising the ceiling of U.S. debt.
With reference to the dollar index - which measures the performance of the dollar against six major currencies including the euro and the Japanese yen and the pound sterling - has fallen on the chart for one day, currently trading at levels of 74.11, with the highest level during the day at 74.30 since the opening levels, which amounted to 74.16 and achieving a minimum level of him during the day at 73.98.
As for the euro-dollar pair; the U.S. dollar rose slightly on the chart for one day of trading at levels of 1.4375 ...
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RTFX Daily Market Comments: 07/26/2011
EUR – USD
It may attempt a test higher to 1.4395 - 1.4418 after which weakness may set it to a drift down to 1.4330 limit.
USD – CHF
Current fall is near an end of wave around 0.8002 zone, a rally should then procede to above 0.8137. Fall below 0.7944 would cancel this scenario.
GBP – USD
There is bearish potential for a fall to 1.6244 while 1.6294 - 1.6310 resist. After this fall a recovery up to 1.6310 or 1.6326 is expected.
USD – JPY
One more dip to 78.18 - 78.05 is likely followed by a grind higher to 78.43 - 78.55. After which it can resume his downtrend.
USD – CAD
It looks more likely that it would rise to 0.9519 from 0.9453 or 0.9429. After which a downside move is expected.
NZD – USD
It looks more likely that it would rise to 0.8674 - 0.8706 from 0. ...
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Dukascopy Afternoon Forex Overview : 25/07/2011
Previous session overview
In reversing an image of political dysfunction in the euro zone and erasing some of the uncertainty surrounding the region's debt crisis, this week's Greek bailout deal gave the euro a sizable boost.
But there's not much conviction that the European currency's rally can extend much further until the region deals more fully with its sweeping fiscal and political problems.
Meanwhile, the U.S. debt talks to avoid a default on Treasury payments before an Administration-imposed deadline of Aug. 2 will add another wild card to currency markets during the coming week. Depending on whether Congress agrees to raise the debt ceiling before then, the ongoing negotiations could put the dollar under pressure or give it a boost, with implications for the euro and other ...
Title:
Dukascopy Afternoon Forex Overview : 25/07/2011
Previous session overview
In reversing an image of political dysfunction in the euro zone and erasing some of the uncertainty surrounding the region's debt crisis, this week's Greek bailout deal gave the euro a sizable boost.
But there's not much conviction that the European currency's rally can extend much further until the region deals more fully with its sweeping fiscal and political problems.
Meanwhile, the U.S. debt talks to avoid a default on Treasury payments before an Administration-imposed deadline of Aug. 2 will add another wild card to currency markets during the coming week. Depending on whether Congress agrees to raise the debt ceiling before then, the ongoing negotiations could put the dollar under pressure or give it a boost, with implications for the euro and other ...
Title:
Windsor Brokers - Short Term Technical Analysis for Majors (13:30 GMT)
EUR/USD
Remains in a consolidative mode, with sideways trading still supported by 1.4323/30, Friday’s low / 20 day MA on 4-hour chart. Near-term studies are losing momentum, increasing risk of deeper reversal below 1.4323, towards 1.4300/1.4280. Holding above main trendline support at 1.4235, however, keeps the broader bull tone in play for retest of Friday’s high at 1.4437 and main trendline resistance at 1.4445, above which to open 1.4500 and 1.4576, 04 July high, on a break.
Res: 1.4416, 1.4437, 1.4450, 1.4500
Sup: 1.4330, 1.4323, 1.4310, 1.4281
http://mediaserver.fxstreet.com/Reports/325f5b3f-7a7d-4768-8193-afec3573778f/eurusd_20110725133057.gif
GBP/USD
Short-term structure maintains positive tone after strength from 1.5779, 12 July low, broke above main trendline and channel ...
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U.S. debt ceiling concerns enhance demand on refuges
Tensions over the raise of U.S. debt ceiling eclipsed the wave of optimist that prevailed last week when European leaders announced a second bailout for Greece in addition to other measures that would halt the spread of debt contagion to haunt other debt-laden nations in the region.
As U.S. policy makers failed to reach an agreement over increasing debt limit before August 2 to avoid a possible downgrade by rating agencies to the U.S.'s top rating.
The threat of default is on the horizon due the large budget deficit that coincides with sluggish growth pace.
Moreover, worries intensified with the downgrade of Moody's Investor Services to Greece further into junk as the second bailout plan included the participation of private sector investors which is considered a default according to ...
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Oil below $118 as debt talks stall
(Reuters) - Oil futures slipped below $118 a barrel after a breakdown of budget talks in the Congress over the weekend helped drive investors away from volatile and risky assets on Monday.
Worries about a U.S. credit rating downgrade or even default curbed optimism about global economic growth, after last week's preliminary solution to the euro zone debt crisis helped propel Brent to as high as $118.80 a barrel on Friday.
"After all the excitement on the economic front last week, attention will return to the fundamentals, particularly U.S. weekly data," said Christophe Barret, global analyst at Credit Agricole Corporate & Investment Bank.
Brent crude for September was 80 cents lower at $117.87 a barrel at 0940 GMT, after falling by more that $1 earlier in the session.
U.S. oil was 57 ...
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Gold hits record with U.S. debt talks deadlocked
Gold prices hit record highs on Monday after negotiations to lift the U.S. debt ceiling hit stalemate over the weekend, raising fears over a possible default and boosting the appeal of bullion versus U.S. assets like Treasuries and the dollar.
Democrats and Republicans in Congress are bitterly divided over plans to cut the U.S. deficit, a necessary move before the debt ceiling can be raised.
With the August 2 deadline for a resolution fast approaching, the world's largest economy is facing an unprecedented debt default. If this happens, investors could dump the dollar and U.S. Treasuries.
While most investors believe a deal will be done, nervousness ahead of the decision is still pressuring the dollar, lifting U.S. Treasury yields and benefiting gold.
"This has reminded people of the ...
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