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Technical analysis of the USD/CAD pair on June 7th, 2011
Commentary of the USD/CAD pair :
The pair USD/CAD is currently testing the resistance at 0.98.
We stay neutral between this level and 0.9747.
We advise to wait an exit of this range to take position:
- Long if 0.98 is broken. The breakout of 0.9850 will give a new buy signal.
- Short if 0.9747 is broken. The breakout of 0.9679 will give a new sell signal.
See the previous analysis of the USD/CAD pair of June 6th, 2011
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Forex - EURO Rallies in Post-NFP Trading
Forex News and Events:
We are seeing a mixed picture developing between FX sentiments and positioning with a backdrop of larger macro-elements also changing. With China, Taiwan, HK and Korea on holiday today, FX markets were range bound during the Asian session and should stay subdued as the economic calendar today is light.
As we creep closer to the imminent bailout, FX traders have increased their long risk-correlated positions. IMM data this week showed that USD shorts had increased while EUR, AUD and CAD longs also increased. EURUSD was able to close comfortably above 1.4600 on Friday on the news that the troika of EU / IMF / ECB had reached at least a staff level agreement with Greek policymakers. Fears over EU contagion have now subsided as participants realized that this phase ...
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YouTradeFX Daily Market Analysis : 06/06/2011
www.youtradefx.fr
EUR/USD :
For five straight weeks the financial markets have been in free fall, the longest straight period since 2004. However, despite this, it is amazing to see the strength of the euro that, despite the drop of exchange rates in the markets, continues to push forward in trading against the dollar. The good news regarding the granting of an aid package to Greece alleviates the pressure on the euro – United States dollar pair and has allowed it to reach its present level of around 1.4630.
The technical picture for the pair continues to hint that the central price target for the euro – dollar is the resistance level of 1.5150. It is possible to enter a buy position at the present price levels but we should take into account the possibility of a downwards correction ...
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Amid debt crisis and slowdown, euro may still rise
(Reuters) - The euro hit a one-month high on Monday, heading toward $1.50 ahead of a European Central Bank policy meeting later this week, an upward march that could bring commodity prices and emerging market currencies along with it.
The weakest U.S. jobs growth in eight months in May has knocked the dollar lower across the board and pushed down Japanese stocks to a two-month low, confirming for investors that the global business cycle has shifted to slower growth and a defensive stance in portfolios is desirable.
The falling dollar has in turn pushed up the euro, which despite no solution in sight for the euro zone's debt crisis may find some traction this week and support commodity prices.
Follow the U.S. jobs data, the two outstanding questions for investors are if the synchronized ...
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Technical analysis of the EUR/CHF pair on June 6th, 2011
Commentary of the EUR/CHF pair:
The pair EUR/CHF made on Friday a lowest just above 1.21.
The pair is now back on its bearish slant as resistance.
Indicators are mitigated.
We stay neutral on the pair between 1.22 and 1.23.
We advise to wait an exit of this range to take position:
- Long if 1.23 is broken. The breakout of 1.24 will give a new buy signal
- Short if 1.22 is broken. The breakout of 1.21 will give a new sell signal.
See the previous analysis of the EUR/CHF pair of June 3rd, 2011
Title:
SunBirdFX Daily Market Analysis : 06/06/2011
www.sunbirdfx.com
GBP/USD
The British pound will be on the center of business this week, as official bank rate will be published on Thursday. No surprises are expected here, but the MPC statement has high impact on the pound.
In the technical aspect, a reversal pattern appears in the daily. Like most of the major currencies, the pound turned over and started getting stronger when the sell-off began in Wall-street.
If it continues rising, the next resistance will be at 1.655. On the other hand, a break-down of Friday's low will signal for declines.
EUR/JPY
The Euro made an impressive rebound during the last few trading days, and it seems that it is trying to take over its picks against the USD. The Japanese is getting stronger as well, especially after it had broken the channel which ...
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Technical analysis of the NZD/USD pair on June 6th, 2011
Commentary of the NZD/USD pair :
The support at 81.50 has been broken and we are now neutral on the pair NZD/USD between 0.81 and 0.8174.
We advise to wait an exit of this range to take position:
- Long if 0.8174 is broken. The breakout of 0.8250 will give a new buy signal
- Short if 0.81 is broken. The breakout of 0.8050 will give a new sell signal.
See the previous analysis of the NZD/USD pair of June 3rd, 2011
Title:
Technical analysis of the USD/CAD pair on June 6th, 2011
Commentary of the USD/CAD pair :
A strong volatily appeared on the pair USD/CAD which is currently testing the resistance at 0.98.
We stay neutral between this level and 0.9747.
We advise to wait an exit of this range to take position:
- Long if 0.98 is broken. The breakout of 0.9850 will give a new buy signal.
- Short if 0.9747 is broken. The breakout of 0.9679 will give a new sell signal.
See the previous analysis of the USD/CAD pair of June 3rd, 2011
Title:
YouTradeFX Daily Market Analysis : 03/06/2011
www.youtradefx.fr
USD/CAD
Financial markets will anxiously be awaiting today's publication of the month's most important figures – the United States employment report that is due to be published today in the afternoon. Economist's forecasts indicate an additional 174 thousand new jobs. A significantly lower figure than this could drag the markets to falling exchange rates and, on the other hand, support the United States dollar that is traded with negative correlation to the markets.
Having said that however, the technical picture for the United States dollar – Canadian dollar pair hints that the pair's potential for a drop in exchange rates is far greater than that for a rise. The US dollar – Canadian dollar is traded relatively high and close to resistance levels of 0.9800 and 0.9830. ...
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