ForexTribe is a french website mainly created to share graphic analysis and trade ideas on the Forex Forum.
Price Is Currently TestingTitle:
Traders Eye British Interest Rates
The BOE will take center stage as the British central bank is expected to hold interest rates steady. The market has priced in a 1 in 5 chance of a surprise interest rate increase at today's meeting.
Economic News
USD - Two Day Dollar Rally Stalls
A lack of economic data kept the dollar in check yesterday as traders took a pause in this week's dollar buying. However, the Canadian dollar reached its strongest level versus the US dollar since November 2007.
Before the opening of the US trading session the EUR/USD reached a high of 1.3940. However, the pair finished the day up only slightly at 1.3904. Traders sent the pair lower early in European trading pushing the price to a new weekly low but were unable to drive the pair much lower than the 1.3860 level. The failure of the pair to ...
Title:
Technical analysis of the EUR/JPY pair on March 8th, 2011
Commentary of the EUR/JPY pair :
The pair EUR/JPY just reached the support at 114.50 and is currently testing a return above 115. The pair continues to move below its bullish slant. All indicators are bullish. We maintain to trade only long positions as far as 114.50 is support. If the price stay above 115, that will comfort our bullish feeling. The breakout of 116 will give a new buy signal.
See the previous analysis of the EUR/JPY pair of March 7th, 2011
Title:
Technical analysis of the EUR/JPY pair on March 7th, 2011
Commentary of the EUR/JPY pair :
The pair EUR/JPY reached on Friday at its highest the resistance at 116. The pair continues to move below its bullish slant but is back on 115 and is currently testing this level as support. All indicators are bullish. We maintain to trade only long positions as far as 114.50 is support. If the price stay above 115, that will comfort our bullish feeling. The breakout of 116 will give a new buy signal.
See the previous analysis of the EUR/JPY pair of March 4th, 2011
Title:
Technical analysis of the EUR/USD pair on March 7th, 2011
Commentary of the EUR/USD pair :
The pair EUR/USD continues its bullish rallye into its bullish channel. The pair is currently testing the resistance at 1.40. All indicators are bullish. We maintain to trade only long positions as far as the price is above 1.39. The breakout of 1.40 will give a new buy signal for a pursuit of the movement towards 1.41.
See the previous analysis of the EUR/USD pair of March 4th, 2011
Title:
Euro holds huge gains; dollar looks for jobs
(Reuters) - The euro took a breather in its explosive rally ahead of influential U.S. jobs data on Friday, but the single currency is set to stay in demand after the European Central Bank signaled it may raise interest rates as early as next month.
While the ECB had been expected to step up its anti-inflation rhetoric, nobody actually thought ECB President Jean-Claude Trichet would explicitly say an interest rate rise at the next meeting was possible.
"The market was unprepared for Trichet to lay the foundation for an April rate hike," said David Watt, strategist at RBC Dominion Securities.
Euro interest rate swaps soared across the curve with the two-year rate hitting 2.30 percent, highs not seen since early 2009.
The euro jumped to its highest in about four months of $1.3976 on ...
Title:
Euro Soars On ECB Interest Rate Expectations; Non-Farm Payrolls Eyed
A day prior to the US Non-Farm Employment Change report, ECB President Jean-Claude Trichet set the stage for the first European interest rate increase since the financial crisis.
Economic News
USD - US Dollar Gains on Weekly Unemployment Data
A significant drop in weekly US unemployment claims helped spur dollar gains versus the major currencies. The lone exception to this price action was versus the euro where the pair surged to its highest level since November 2010 on the back of hawkish comments by the ECB. Weekly unemployment claims came in better than expected with new jobless claims falling to 368K from the previous week's 388K. Labor economists had forecasted a rise to 394K jobless claims.
At the end of the day's trading, the EUR/USD was up at 1.3960 from 1.3855. The USD/JPY ...
Title:
Technical analysis of the EUR/USD pair on March 2nd, 2011
Commentary of the EUR/USD pair :
The pair EUR/USD got back below 1.38 and is currently testing a rebound on 1.3750. Indicators stay globaly bullish. We maintain to trade only long positions as far as the price will be above 1.3750. A return above 1.38 will comfort our bullish feeling and the breakout of 1.3850 will give a new buy signal. However, if 1.3750 is broken, we will wait the breakout of 1.37 to trade short positions.
See the previous analysis of the EUR/USD pair of March 1st, 2011
Title:
Forex - Markets Are Trading Cautiously
Forex News and Events:
The lack of news flow or escalations in the Middle East / North Africa helped risk sentiment ease slightly over the weekend. The miscalculation that turbulent protest have been contained placed a mental cap on the market’s exuberance. Asian regional stock markets were broadly higher with the Hang Seng jumping 1.42% and Shanghai up 0.92%. EURUSD was able to climb to 1.3790 off the 1.3700 floor while USDCHF jumped between 0.9260 and 0.9290 - a clear sign of the uncertainly in the market place. Brent crude jumped higher on further supply-anxiety trading at $113.70/bbl, gold is floating at $1410.00/oz. There’s still plenty of reason for uncertainty in the markets going forward. Saudi Activists and academics are demanding that King Abdullah migrate the kingdom ...
Title:
Dollar Weaker on Diverging Policy Expectations While Safe Havens Surge
The Week Ahead
Highlights
* Dollar weaker on diverging policy expectations while safe havens surge
* Pricing in that the Bank of England won't bite the bullet
* Flip-flopping Trichet may flip back to hawkish camp
* Aussie, Aussie, Aussie, Oi! Oi! Oi!
* Higher commodity prices here to stay?
* Key data and events to watch next week
US Dollar weaker on diverging policy expectations while safe havens surge
The past week saw a decline in the greenback as expectations that the Fed will lag other major central banks in lifting interest rates mounted and as commodities surged amid continued turmoil in the Middle East. Tensions in Libya drove commodities higher led by rising oil prices and saw significant flows into the CHF, JPY, and gold as investors sought safety. CHF ...
|