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Technical analysis of the NZD/USD pair on March 10th, 2011
Commentary of the NZD/USD pair :
The pair NZD/USD well continued its bearish movement and is currently testing its lowest at 0.7350. We maintain to trade only short positions as far as 0.7413 is resistance. The breakout of 0.7350 will give a new sell signal. The next support is at 0.73.
See the previous analysis of the NZD/USD pair of March 9th, 2011
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Technical analysis of the USD/CAD pair on March 10th, 2011
Commentary of the USD/CAD pair :
The pair USD/CAD continued its bearish movement and the breakout of 0.9712 gave us a new sell signal. The, the next support at 0.9684 (level 0%) has been tested. Currently, the pair is testing a pullback on 0.9712. We maintain to trade only short positions as far as 0.9720 is resistance. The breakout of 0.9684 will give a new sell signal. However, if 0.9720 is broken, we will wait a return below this level to trade again short positions.
See the previous analysis of the USD/CAD pair of March 9th, 2011
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Technical analysis of the USD/JPY pair on March 10th, 2011
Commentary of the USD/JPY pair :
The pair USD/JPY well continued its bullish movement and is currently testing the resistance at 82.88 (level 38.20%). We maintain to trade only long positions as far as 82.54 (level 50%) is support. The breakout of 82.88 will give a new buy signal. The next resistance is at 83.29 (level 23.60%). However, if 82.54 is broken, we will be neutral.
See the previous analysis of the USD/JPY pair of March 9th, 2011
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Stronger dollar on fear...
So far throughout the U.S session the green currency sees its refuge appeal boosted and therefore gained some momentum since that fears are persisting and actually expanding on the African oil-soil; Libya, where violence tempered optimism that the biggest equity rally since 1955 can continue a third year as energy costs ascend.
As a result the euro-dollar is plummeting and forecasted to slip to the downside according to the one-hour stochastic oscillator, having the Union currency so far trading 1.3899 recording a high of a 1.3941 and a low of 1.6136. The trading range for today is among the key support at 1.3365 and the key resistance at 1.3715.
As for the pound-dollar pair, it is narrow trading due to technical movements and is forecasted to not vary as momentum indicators at several ...
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Analysis: For all the risk, market stress seems to be ebbing
(Reuters) - Even as a truly unpredictable political event unfolds across the Arab world this year, global investors appear more comfortable than they have been for years in coping with the financial fallout.
That's not to say the viral unrest that has spread across the Middle East and North Africa since January is positive for world asset prices -- a sustained oil price spike clearly has the opposite effect on stocks and bonds alike.
But, unlike the existential threat to the entire financial system presented by the credit implosion of 2007 and 2008, investors can more easily price and discount the main economic fallout from the current unrest -- namely higher energy costs.
Take correlations between the main asset classes as a key indicator of market stress -- where lockstep movements ...
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Euro falls for third day; dollar up as oil slips
(Reuters) - The euro fell for a third straight session against the dollar on Wednesday, with further losses likely, as investors were unconvinced that Friday's European summit would quell concerns about the region's fiscal problems.
The U.S. dollar also rose against most of the major currencies, helped by a retreat in oil prices. Lower oil prices tend to help the greenback as it reduces U.S. crude oil imports.
Traders said short-term support for the euro is at $1.3862, the high on Feb 2. As long as the euro stays above that level, the uptrend for the currency remains intact, although a break below it should target the $1.3710-12 area, last week's low.
The market's focus is pinned on a European Union summit on Friday. Seventeen heads of state expected to agree on a comprehensive pact ...
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Dollar Rises as Oil Pries Drop
The U.S. dollar rose against major currencies after oil prices fell from a 29-month high, which eased fears over the outlook for global growth, and investors bought dollars against major currencies, meanwhile, speculations that the Fed could change their stance on quantitative easing as the U.S. economy continues to show rising economic activities.
Moreover, Moody’s announced it downgraded the credit rating for Greece, which revived fears among investors over the outlook for the European debt crisis, noting that the Euro has been gaining strength recently after the ECB’s Chairman, Jean-Claude Trichet, signaled the ECB will raise interest rates in April.
The U.S. Dollar index, which measures the performance of the U.S. dollar against a basket of currencies including the Euro, the Pound, ...
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The Euro is trading near its highest level in four months
The Euro rose during the Asian session today, currently trading near its highest level in four months against the dollar, on the other hand Germany awaits today data on the factory orders which are expected to rise higher than forecasted which could prompt the European Central Bank to resort to raising interest rates to increase the demand on the European currency.
The shared currency incline against the greenback during today’s Asian session, as the pair trades around 1.3985, after recording a high of 1.3987, and a low of 1.3955. The pair faces a resistance at 1.4000. The daily momentum indicators show the pair in an overbought area, while the four hours indicators give a buying signs.
The pound/dollar pair increased since the beginning of today’s trading, and now the pair trades around ...
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Technical analysis of the XAU/USD (Gold) pair on March 8th, 2011
Commentary of the XAU/USD (Gold) pair:
The pair XAU/USD faked a braekout of 1440 to made a new highest on 1445. The price is now falling below 1330. Indicators stay globaly bullish. We maintain to trade only long positions as far as 1420 is support. The breakout of 1440 will give a new buy signal for a pursuit of the movement towards new historical highs.
See the previous analysis of the XAU/USD pair of March 7th, 2011
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