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Only Long PositionsTitle:
Oil edges up on Iran, but posts fourth weekly loss
(Reuters) - Oil prices rose for a second day on Friday on the lack of progress in negotiations with Iran over its disputed nuclear program, but crude futures posted a fourth straight weekly loss as Europe's debt problems threatened economic growth and petroleum demand.
Euro-zone political turmoil and economic uncertainty pressured the euro against the dollar, and along with recent signs of slowing Chinese economic growth and rising U.S. crude oil inventories, helped limit gains of Brent and U.S. crude futures.
This week's negotiations on Iran's nuclear program yielded little progress, though the six major powers and Tehran agreed to meet again in June, keeping the threat of conflict and supply disruptions in play for investors.
News that Iran has enhanced its ability to enrich uranium ...
Title:
USD Softer ahead of Holiday Weekend
The dollar is giving back some of its recent gains as traders cover positions ahead of the holiday weekend and after the market failed to break the 1.25 downside barrier in EUR/USD. Sentiment is relatively stable with global equities trading flat to slightly softer, EU sovereign yield spreads have eased somewhat, and the dollar index is lower and testing the 82.00 figure after making new highs for the current rally. Uncertainty remains high as markets lack clarity on key European issues and barring any new headlines, today's price action may be driven by position squaring ahead of the long weekend.
The Swiss franc was on the move earlier with EUR/CHF rising sharply on speculation of possible fees on SNB deposits. Swiss officials declined to comment and the franc regained ground after the ...
Title:
Another Day, Another New Correction Low For EUR/USD
Sunrise Market Commentary
- Fixed Income: Hunt for yield
- Following horrible French and German PMI readings, core bonds set new highs. The German 10-yr yield set an all time low at 1.35% and this initiated for the first time a “hunt for yield” trade into Belgian, Austrian and French bonds. The trade was most visible at the longer end of the curve, resulting in a bull flattening.
- Currencies: Another day, another new correction low for EUR/USD
- On Thursday, the decline of EUR/USD was extended. However, given the flood of negative news, the damage could have been worse. EUR/GBP struggles to hold above the 0.8000 barrier. Today, the calendar is thin. However, one can expect investors to stay cautious going into a long weekend. This is no help for the euro
The Sunrise ...
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Technical analysis of the EUR/CHF pair on May 25th, 2012
Commentary of the EUR/CHF pair:
The pair EUR/CHF has faked yesterday the start of a strong bullish rally.
The pair is back on the same levels before the intervention of the BNS (above 1.2010).
Indicators are neutral.
We now advise to trade only long positions as far as 1.2010 is support.
The breakout of 1.2030 and 1.2050 will both give a new buy signal.
In case of return below 1.2010, we will wait the breakout of 1.20 to advise short positions.
See the previous analysis of the EUR/CHF pair of May 24th, 2012
EUR/CHF Analysis
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SunBirdFX Daily Market Analysis : 05/24/2012
www.sunbirdfx.com
Another day of battle between the sellers and the buyers in Wall Street has passed by, as the sellers are still on the upper hand. In fact, the continuation of the bearish momentum was expected after the indices made bearish reversal patterns on Tuesday. The new home sales data came out better than expected but this did not help the stock to rise, as today's main data is the continuing jobless claims.
The declines of the stocks caused sharp weakening of most of the major currencies, except the USD. Therefore, we see many oversold/overbought pairs and we see less accurate patterns in the daily chart. What you should do in these kinds of situations is to wait for corrections or trade in the intraday charts and look for quick trades, although it can be more dangerous.
EUR/ ...
Title:
EUR/USD Rebound On Profit Taking
Sunrise Market Commentary
- Fixed Income: limited profit taking on core bond markets
- Global core bond markets fell prey to some profit taking in a thin, dull trading session. However, given the strength of equities, bond losses were very limited and occurred at the onset of trading. Today, the eco calendar remains thin and the profit taking might go some further in the run-up to tomorrow's informal EU Summit.
- Currencies EUR/USD rebound on profit taking
- The correction in EUR/USD was prolonged, but the euro gains were modest and mostly technical in nature. The UK inflation report is the eye-catcher of the day as it may influence sterling. However, overall trading might again be thin ahead of tomorrow's euro Summit.
The Sunrise Headlines
- US Equities rose for a second ...
Title:
Euro Succeeds Short Squeeze
Sunrise Market Commentary
- Fixed Income: Global core bonds take a breather
- Investors remained mostly sidelined in an uneventful session on Friday. The G-8 meeting stressed the need for growth, besides fiscal consolidation and sees Greece staying inside EMU. This shouldn’t surprise markets today. With a razor thin calendar, trading might start the week in a lackluster mode.
- Currencies: Euro succeeds short squeeze
- On Friday, the decline of the euro halted and EUR/USD succeeded a cautious rebound, even as uncertainty on the EMU debt crisis persisted. Technical considerations will also dominate trading today as the G8 meeting provided no high profile measures to address the debt crisis.
The Sunrise Headlines
- US Equities rose for a second consecutive session on ...
Title:
Signs that Bearish Sentiment May be Wearing a Bit Thin
Signs that Bearish Sentiment May be Wearing a Bit Thin
The Facebook IPO today has temporarily knocked Europe from the headlines as the world's eyes are focused on the Nasdaq at 1430 GMT/ 0930 ET when Facebook will start trading for the first time. CNBC anchors have been wearing honorary hoodies to mark the occasion so it must be big. I still find it hard to reconcile how FB is worth $140 billion when the site is used by both advertisers and cyber bullies, but perhaps I'm missing the point. The point today is that it is the third largest IPO in the US ever, Zuckerberg will be a gaszillionaire and U2's Bono is likely to earn $1.5bn from his initial $90 million investment. Facebook might not change the trading world, but it could change the Forbes rich list quite dramatically.
Could ...
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Technical analysis of the XAU/USD (Gold) pair on May 18th, 2012
Commentary of the XAU/USD (Gold) pair:
The gold has continued its rebound and is currently testing a pullback on the resistance at 1577 points and also on the lower band of its bearish channel (purple lines).
Indicators are globaly bearish.
We maintain to trade only short positions as far as 1577 points is resistance.
A return below 1550 points will comfort our bearish feeling.
The breakout of 1520 will both a new sell signal and open the way towards 1500 points.
In case of return above 1577 points, we will wait the breakout of 1600 to advise long positions.
See the previous analysis of the XAU/USD pair of May 17th, 2012
XAU/USD Analysis
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