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Technical analysis of the USD/JPY pair on June 16th, 2011
Commentary of the USD/JPY pair :
The pair USD/JPY continues its bullish movement and the exit of the range 80.50/80.77 from the top gave us a buy signal.
We maintain to trade only long positions as far as 80.50 is support.
The breakout of 80.97 (level 23.60%) will give a new buy signal and open the way towards 81.50.
However, if 80.50 is broken, we will be neutral between this level and 80.20.
See the previous analysis of the USD/JPY pair of June 15th, 2011
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Your Best Real Estate Investment is a Moat
Reporting from International Living’s “International Real Estate Investment Forum”
During recent flooding in the Midwest, an enterprising Arkansas man built a moat around his home and property to protect it from the floodwaters.
It worked. His house, possessions, and family remained safe.
Like that guy in Arkansas, says Ronan McMahon, Director of Pathfinder Real Estate, when it comes to our personal financial well-being, we need to think about safety – especially in today’s stormy economic environment.
Ronan – who borrowed the term from Warren Buffett – applies this concept of “moat economics” to every investment he makes. He told us all about it here at the Investment Forum in Toronto. When you’re buying real estate for investment, he says, look for moats – barriers to entry that keep ...
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Dollar refuge appeal remains boosted on EU fears
The green Benjamin continues so far on gaining strength throughout the US session as fears remain strongly spotted within the currencies trading mainly since that the European Union failed up till now to break a deadlock on a second Greek financial rescue while that gloomy manufacturing data was released from the world's leading economy today.
However technical movements are taking place as well presently and therefore the euro-dollar pair is slightly declining on the four-hour scale and is forecasted to start rising to the upside according to the one-hour and four-hour momentum indicators with the Union currency now trading around 1.4193 recording a high of 1.4450 and a low of 1.4180.Trading range for today is among the major support 1.4235 and the major resistance 1.4545
As for the ...
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Weak U.S. data, Greek debt fears hit European shares
(Reuters) - European share prices fell on Wednesday, with sentiment hit by disappointing manufacturing data from the United States, and peripheral euro zone stocks fell sharply on renewed concerns over debt troubles in Greece.
The pan-European FTSEurofirst 300 .FTEU3 index of top shares closed 1.1 percent lower at 1,088.99 points.
Concerns about a slowdown in the economic momentum intensified after data showed the New York Fed's general business conditions index contracted for the first month since November, while the U.S. consumer price index (CPI) rose by a larger than expected number.
"There's a lack of motivation (among investors) to maintain long positions for any decent amount of time, reflecting the concerns about the economy that are still out there," said Joshua Raymond, market ...
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Private foreign demand for U.S. Treasuries slips
(Reuters) - Foreigners stepped up buying of long-dated U.S. securities in April for the first time in five months but demand for U.S. government debt declined, U.S. Treasury Department data showed on Wednesday.
The United States attracted a net long-term capital inflow of $30.6 billion in April, up from a $24 billion inflow the prior month, the data showed. That was the first monthly increase in net foreign buying since November.
Foreigners bought Treasuries in April but the total net inflow fell by $3.4 billion to $23.3 billion, the fifth consecutive monthly decline. The slide was driven by private foreign investors, who turned their backs on Treasuries in April and sold a net $751 million.
Some analysts said reduced private demand for Treasuries may reflect concern over U.S. public ...
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EIA Report…
The EIA report showed that the U.S commercial crude oil inventories Decrease by 3.4 million barrels from the previous week. At 365.6 million barrels, U.S. crude oil inventories are above the upper limit of the average Range for this time of year. Total motor gasoline inventories increased by 0.6 million barrels last week and are in the upper limit of the average range.
Whereas both finished gasoline inventories and blending components inventories increased last week. Distillate fuel inventories decreased by 0.1 million barrels last week and are above the upper limit of the average range for this time of year.
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Euro slides; Greece remains in focus, U.S. CPI hurts
(Reuters) - The euro fell broadly on Wednesday after euro zone ministers failed to reach agreement on how to tackle the Greek debt crisis and Moody's threatened large French banks with possible downgrades.
A report showed U.S. core inflation rose more than expected in May to post its largest increase in three years, bolstering the dollar, though events in Europe continued to dominate market sentiment.
The increased investor aversion to risk triggered by the debt crisis continued to push the euro down by as much as 1 percent on the day.
Traders said Asian sovereign names and leveraged and real money accounts were behind the selling.
Analysts said a Greek national strike against austerity measures was also keeping the euro lower as it highlighted the country's outrage against the ...
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Forexpros.com Daily Analysis - 15/06/2011
ForexPros Daily Analysis June 15, 2011
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Start: Wed, Jun 15, 2011, 09:00 EST
End: Wed, Jun 15, 2011, 10:00
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Euro Breaks Longs, Pound Testing Longs, Yen Hit Resistance
Euro:
On the daily, the euro looks like its about to break its long setup, with the full traditional long line in the sand at 1.4388. and has front run its 50% short at 1.4509, with a target at 1.4233. Be careful trading and only get in at large setups.
Pound:
On the daily, the pound is trading in very wide ranges. Be careful trading the pound, it has been breaking setups in both directions and the chart looks messy. ...
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Forex - Lack of Agreement Triggers EUR Weakness
Forex News and Events:
Yesterday’s moderate rally in risk-correlated FX trades is starting to stall on word that an unscheduled EconFin meeting in Brussels has failed to reach an agreement on a bailout to Greece (no official statement was released). The Finance ministers will re-convene again on 19-20 of June to see if the deadlock issue of if and how the private sector will be involved can be resolved.
EURUSD fell from 1.4498 to 1.4360 while USDCHF rallied from 0.8356 to 0.8501. While Europe is struggling to find a solution to its latest problem, Moody’s isn’t helping by announcing this morning that they are putting three major French banks (Credit Agricole, BNP Paribas and Societe General) on review for potential downgrades. The rating agency then issued the ominous warning that they ...
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