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Previous Analysis Of The Gbp/usdTitle:
Dukascopy Afternoon Forex Overview : 22/11/2011
Fundamental Analysis
EUR
Spain's Treasury sold 3 billion euros of three and six-month bills today despite essentially increased yields after Sunday's elections. The Treasury bills sold for 2.1 billion euros generate yield of 5.22%, while the same bills sold less than a month ago produced only 2.35% yield. The current sale has bid-to-cover ratio of 4.94% as compared to October's sale ratio of 2.59%.
USD
Treasury prices slightly increased while the dollar suffered losses after the US government announced the decrease in its projected GDP growth from 2.5% to 2% in Q3. The dollar index was traded at 78.23 down from 78.20. The euro gained on the dollar index decrease and was $1.3523 from $1.3527. Yields on 10-year notes declined by one basis point to 1.96%.
GBP
The net borrowing of the UK' ...
Title:
Technical analysis of the GBP/USD pair on November 22th, 2011
Commentary of the GBP/USD pair :
After its pullback on 1.5852, the pair made a bearish rally and the breakout of 1.5669 just gave us a new sell signal.
All indicators stay bearish.
We maintain to trade only short positions as far as 1.58 is resistance.
The breakout of 1.56 will give a new sell signal and open the way towards 1.55.
In case of return above 1.58, we will be neutral between this level and 1.5852.
See the previous analysis of the GBP/USD pair of November 21th, 2011
GBP/USD Analysis
Title:
Dukascopy Afternoon Forex Overview : 21/11/2011
Expert commentary
“ I think that Portuguese government should stop following the
advice of the European Commission, ECB and IMF ”
-Ricardo Cabral
The contagion from Greek sovereign debt is spreading to other troubled Eurozone countries, such as Italy,
Spain and Portugal. Dukascopy has conducted a string of interviews to disclose the situation from the inside
and bring you the recent news and experts’ opinions on the matter. Today Professor Ricardo Cabral has put
Portugal under scrutiny and unpicked the recent economic developments for Dukascopy clients.
Read more: FULL REPORT - Expert commentary
Fundamental Analysis
EUR
The euro zone reported about current-account surplus of 0.5 billion euro in September as compared to deficit of 5.9 billion euro in August, according to ECB. The ...
Title:
ECB Sticks to its Guns
Comments by ECB President Mario Draghi highlight the ECB's position in the European debt crisis. His remarks suggest the European Central Bank will not come to the rescue of financially pressured nations. However, a creative solution between the ECB and the IMF may allow the ECB to avoid the restrictions placed upon the central bank by EU treaties.
Economic News
CAD - Canadian Inflation Overshoots Forecasts
Canadian inflation for the month of October came in higher than expected with core CPI climbing 0.3% m/m on consensus forecasts of 0.2%. Headline CPI was also higher at 0.2% m/m on expectations of only 0.1%. The year-over-year data requires a second look as it shows core inflation rate actually fell to 2.1% vs. 2.2%.
Despite the drop in the annual inflation rate the monthly ...
Title:
Technical analysis of the GBP/USD pair on November 21th, 2011
Commentary of the GBP/USD pair :
The pair GBP/USD made a pullback on the resistance at 1.5852 (1.59 in extension) and then took up its bearish channel.
All indicators stay bearish.
We maintain to trade only short positions as far as 1.5852 is resistance.
The breakout of 1.5669 will give a new sell signal and open the way towards 1.56.
In case of return above 1.5852, we will be neutral between this level and 1.59.
See the previous analysis of the GBP/USD pair of November 18th, 2011
GBP/USD Analysis
Title:
Technical analysis of the GBP/USD pair on November 18th, 2011
Commentary of the GBP/USD pair :
The pair GBP/USD has rebounded on the support at 1.57 and is currently testing 1.58.
Indicators stay globaly bearish.
We maintain to trade only short positions as far as 1.5852 is resistance.
The breakout of 1.5669 will give a new sell signal and open the way towards 1.56.
In case of return above 1.5852, we will be neutral between this level and 1.59.
See the previous analysis of the GBP/USD pair of November 17th, 2011
GBP/USD Analysis
Title:
Technical analysis of the GBP/USD pair on November 17th, 2011
Commentary of the GBP/USD pair :
The pair GBP/USD has continued its bearish rally until the support at 1.57.
All indicators are bearish.
We maintain to trade only short positions as far as 1.5852 is resistance.
The breakout of 1.5669 will give a new sell signal and open the way towards 1.56.
In case of return above 1.5852, we will be neutral between this level and 1.59.
See the previous analysis of the GBP/USD pair of November 16th, 2011
GBP/USD Analysis
Title:
Technical analysis of the GBP/USD pair on November 16th, 2011
Commentary of the GBP/USD pair :
The pair GBP/USD made a bearish rally and the breakout of 1.59 and 1.58 both gave us a new sell signal.
All indicators are bearish.
We maintain to trade only short positions as far as 1.59 is resistance.
The breakout of 1.5669 will give a new sell signal and open the way towards 1.56.
In case of return above 1.59, we will be neutral between this level and 1.60.
See the previous analysis of the GBP/USD pair of November 15th, 2011
GBP/USD Analysis
Title:
Time to Begin Focusing on US economic Data
The rebound the EUR received late last week was short lived after Italian and Spanish bond yields moved higher. Today the economic calendar is filled with important economic data points from Europe, the UK, and the US, with the most important likely to be euro zone GDP and US retail sales.
Economic News
USD - Focusing on US economic Data
After two weeks of following the European political scene US economic data releases return to the spotlight. Today important data will be released beginning with retail sales, PPI, and the Empire State Manufacturing Index. Markets expect that the positive economic momentum that began in Q3 will likely carry over into Q4. An improvement in market sentiment is forecasted with a sharp pickup in the manufacturing sector. Retail sales numbers are expected ...
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