ForexTribe is a french website mainly created to share graphic analysis and trade ideas on the Forex Forum.
Only Long PositionsTitle:
Dollar off as policy tightening expectations fall
(Reuters) - The dollar fell against the euro and the yen on Friday, interrupting a rally that had pushed it to an 11-month high against the yen, after a slew of unexpectedly weak U.S. data reports.
A rise in Treasury bond yields after recent strong data indicated investors had been betting that the Federal Reserve may be more aggressive and tighten monetary policy sooner than anticipated or at least push further stimulus off the table.
But a sharp dollar sell-off began after a report showed little sign that underlying U.S. inflation pressures were building up.
The consumer price index report reduced the hawkish sentiment on interest rates and fiscal stimulus that has sprung up in recent months on improving U.S. economic growth data.
It also detracted from comments by Federal Reserve ...
Title:
Gold gives up early gains on India's import duty hike plan
(Reuters) - Gold ticked lower in volatile trade on Friday, heading for a third straight week of losses as a brightening economic outlook in the United States prompted investors to park their money elsewhere, while India's plan to double the import duty on bullion erased some early gains.
But physical dealers also noted panic buying from India, the world's largest gold consumer, after Finance Minister Pranab Mukherjee proposed to double to four percent the customs duty on gold from April, the start of the 2012/13 financial year.
Gold hit an intraday high of $1,664.40 an ounce before slipping to $1,655.69 by 0818 GMT, down $2.04.
"In fact India is buying today, although of course the volume is not great," a dealer in Singapore said. "I am not sure if the drop in prices is related to the ...
Title:
Technical analysis of the EUR/GBP pair on March 16th, 2012
Commentary of the EUR/GBP pair:
The pair EUR/GBP made a pullback yesterday on the resistance at 0.8350 and is currently moving towards 0.83.
All indicators are bearish.
We continue to advise to trade the pair according to key level 0.84.
Below 0.84 - We advise to trade only short positions. The breakout of 0.8350 will give a new sell signal and open the way towards 0.83.
Above 0.84 - We advise to trade only long positions. The breakout of 0.8450 will give a new buy signal and open the way towards 0.85.
See the previous analysis of the EUR/GBP pair of March 16th, 2012
EUR/GBP Analysis
Title:
Technical analysis of the USD/CHF pair on March 16th, 2012
Commentary of the USD/CHF pair :
The pair USD/CHF has continued yesterday its correction and got back below 0.9250.
Indicators are now mitigated.
The pair is still moving into a bullish channel (black lines).
We maintain to trade only long positions as far as 0.92 is support.
A return above 0.9250 will comfort our bullish feeling.
The breakout of 0.93 will give a new buy signal and open the way towards 0.9350.
In case of return below 0.92, we will be neutral between this level and 0.9164.
The breakout of 0.9164 will give a sell signal.
See the previous analysis of the USD/CHF pair of March 15th, 2012
USD/CHF Analysis
Title:
Fed Outlook Gives Dollar Additional Boost
A positive economic outlook from the US Federal Reserve earlier this week, helped boost the dollar against its main currency rivals throughout yesterday's trading session. The news helped boost the USD/JPY to a fresh 11-month high, while the EUR/USD dropped as low as 1.3029 during the morning session. Today, traders will want to pay attention to a batch of US data, which includes this week's Unemployment Claims figure. Any positive US news could help boost the dollar further.
Economic News
USD - US News Set to Impact Markets Today
The USD was able to extend its bullish trend yesterday, as positive US news continues to boost investor confidence in the American economic recovery. The USD/JPY hit a fresh 11-month high during the afternoon session, and appeared close to breaching the 84.00 ...
Title:
Technical analysis of the EUR/GBP pair on March 15th, 2012
Commentary of the EUR/GBP pair:
The pair EUR/GBP just found support on 0.83 and is currently moving towards a pullback on 0.8350.
All indicators are bearish.
We continue to advise to trade the pair according to key level 0.84.
Below 0.84 - We advise to trade only short positions. The breakout of 0.8350 will give a new sell signal and open the way towards 0.83.
Above 0.84 - We advise to trade only long positions. The breakout of 0.8450 will give a new buy signal and open the way towards 0.85.
See the previous analysis of the EUR/GBP pair of March 15th, 2012
EUR/GBP Analysis
Title:
Technical analysis of the USD/CHF pair on March 15th, 2012
Commentary of the USD/CHF pair :
The pair USD/CHF has continued its bullish movement who has been stopped by the upper band of its bullish channel, leading to a false breakout of the resistance at 0.93.
All indicators are bullish.
The pair is still moving into a bullish channel (black lines).
We maintain to trade only long positions as far as 0.92 is support.
The breakout of 0.93 will give a new buy signal and open the way towards 0.9350.
In case of return below 0.92, we will be neutral between this level and 0.9164.
The breakout of 0.9164 will give a sell signal.
See the previous analysis of the USD/CHF pair of March 14th, 2012
USD/CHF Analysis
Title:
Technical analysis of the AUD/USD parity on March 14th, 2012
Commentary of the AUD/USD parity:
The pair AUD/USD is still moving between the support at 1.05 and the resistance at 1.0550.
The pair continues to test the upper band of its previous descending triangle and also its long term slant (blue line).
All indicators are bearish.
We advise to trade the pair according the key level at 1.06:
- Only short positions below 1.06. The breakout of 1.05 will give a new sell signal and open the way towards 1.04
- Only long positions above 1.06. The breakout of 1.0650 will give a new buy signal and open the way towards 1.07.
See the previous analysis of the AUD/USD parity of March 13th, 2012
AUD/USD Analysis
Title:
Technical analysis of the EUR/GBP pair on March 14th, 2012
Commentary of the EUR/GBP pair:
The pair EUR/GBP has faked yesterday a return above 0.84.
The pair felt strongly and just validated the breakout of 0.8350, offering a new sell signal.
All indicators are now bearish.
We continue to advise to trade the pair according to key level 0.84.
Below 0.84 - We advise to trade only short positions. The breakout of 0.8350 will give a new sell signal and open the way towards 0.83.
Above 0.84 - We advise to trade only long positions. The breakout of 0.8450 will give a new buy signal and open the way towards 0.85.
See the previous analysis of the EUR/GBP pair of March 14th, 2012
EUR/GBP Analysis
|