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Technical Analysis Of The Eur/usdTitle:
Dukascopy Afternnon Forex Overview : 30/03/2012
Dukascopy Fundamental Analysis
EUR
17-nation currency advanced to one-month record high versus US Dollar on speculations EU finance ministers will support the increase of rescue funds. Euro climbed 0.4% against greenback to USD 1.3349 and was poised for third weekly gain. Common currency dropped 0.2% versus Yen to JPY 109.49. Currently EUR/USD is trading at USD 1.3356.
USD
China's imports from the US hit 100 billion US Dollars in 2011, reported US-China Business Council. The US exported goods and services worth 103.9 billion US Dollars to China last year, indicating a 542% increase over the 10-year period. China is the third largest importer of the US goods and services; however, the US plans to more than double its exports to China by 2014, said Barak Obama.
GBP
UK GfK consumer ...
Title:
Dukascopy Morning Forex Overview : 30/03/2012
Dukascopy Technical Analysis
EUR/USD
"The euro has been on a firm footing. Should European finance ministers agree to beef up the rescue fund, the euro may get a bit firmer."
- Mizuho Securities Co. (based on Bloomberg)
The pair remains pretty resilient after the S&P announcement Greece might require another bailout package to restructure its debt and is capable of approaching the recent high at 1.3449.
EUR/JPY
"European Union discussions on the scale of the ESM (European Stability Mechanism), the Spanish government's 2012 budget plan and the China PMI figure... ahead of this, as well as all the U.S. data, the market is cautious."
- SMBC Friend Securities (based on CNBC)
As anticipated, EUR/JPY slipped lower yesterday ahead of the 111.57 level (intervention high).
GBP/USD
"With the UK ...
Title:
Technical analysis of the EUR/USD pair on March 30th, 2012
Commentary of the EUR/USD pair :
The pair EUR/USD made yesterday a pullback on the support at 1.3250 and then took up its bullish movement to currently test the resistance at 1.3350.
All indicators are bullish.
The pair is still moving into a short term bullish channel (black lines).
The price evolve below the lower band of its former medium term bullish channel (purple lines).
We continue to advise long positions as far as 1.3250 is support.
The breakout 1.3350 will give a new buy signal and open the way towards 1.34.
In case of return below 1.3250, we will wait the breakout of 1.32 to advise short positions.
See the previous analysis of the EUR/USD pair of March 29th, 2012
EUR/USD Analysis
Title:
Dukascopy Afternnon Forex Overview : 29/03/2012
Dukascopy Fundamental Analysis
EUR
Thousands of people in Spain are going participate in the general strike against the new reform. The reform stipulates reduction of the maximum severance payment to 33 days' remuneration from 45 days currently provided. The measure is aimed at combating with unemployment and saving billions of Euros for the country. However, labour unions claim the legislation will ease firing for the companies.
USD
US unemployment claims increased sharply last week to 359K despite positive sentiment on the market and analyst consensus forecast of 351K. The latest reading indicates a sharp increase of this indicator, as the previous week's reading stood at 348K.
GBP
The average house price in the UK declined by 1% this month while taken annualized rate home prices ...
Title:
Dukascopy Morning Forex Overview : 29/03/2012
Dukascopy Technical Analysis
EUR/USD
"With concerns about global growth now weighing on sentiment, the single currency seems to behave like a proper funding currency should do—it rallies against risk-correlated currencies. We suspect that this should remain the case in the near term"
- Citigroup (based on Reuters)
The pair is attempting to advance further and it is likely to test the 7-month high at 1.3457.
EUR/JPY
"Over the short term, there appears to be little to jolt markets out of their stupor and if anything, is likely to continue to drift higher according to our short-term quantitative models"
- Credit Agricole (based on MarketWatch)
A fierce resistance lies ahead of EUR/JPY at 111.57 (intervention high). If EUR/USD fails to advance higher, it will commence a slide back towards ...
Title:
Technical analysis of the EUR/USD pair on March 29th, 2012
Commentary of the EUR/USD pair :
The pair EUR/USD made a pullback yesterday on the support at 1.33 and seems now to rebound on this level.
Indicators are globaly bullish.
The pair is still moving into a short term bullish channel (black lines).
The price evolve below the lower band of its former medium term bullish channel (purple lines).
We continue to advise long positions as far as 1.3250 is support.
The breakout 1.3350 will give a new buy signal and open the way towards 1.34.
In case of return below 1.3250, we will wait the breakout of 1.32 to advise short positions.
See the previous analysis of the EUR/USD pair of March 28th, 2012
EUR/USD Analysis
Title:
Dukascopy Afternnon Forex Overview : 28/03/2012
Dukascopy Fundamental Analysis
EUR
Magyar Nemzeti Bank may keep its benchmark interest rate unchanged at 7% for a third straight month, analysts said on Tuesday. The central bank is likely to stick to highest interest rate in European Union due to a delay in receiving IMF loan. The Forint strengthened 0.3% versus Euro to HUF 290.
USD
US February core durable goods orders reading was in line with the forecast at 1.6%, after a sharp fall of 3.0% in January. Durable goods orders rose by 2.2% last month, underperforming versus the forecast of 3.0%.
GBP
British FTSE 100 declined on Wednesday as data showed the revised British GDP in the 4th quarter declined 0.3% compared to previous estimate of 0.2%. Banks and miners drove the index lower with Barclays PLC and Lloyds Banking Group PLC each ...
Title:
Dukascopy Morning Forex Overview : 28/03/2012
Dukascopy Technical Analysis
EUR/USD
"The euro area’s debt crisis is “almost over"
- Italian Prime Minister Mario Moni (based on Bloomberg)
The pair is attempting to advance further and it is likely to test the 7-month high at 1.3457.
EUR/JPY
"The yen move is driven by supply and demand before the final exchange-rate fixing of the fiscal year. I think we’ll start to see some rise in demand to buy JPY"
- Mizuho Corporate Bank Ltd. (based on Bloomberg)
EUR/JPY is holding bullish impetus while recovering from the 20-day average at 108.97.
GBP/USD
"Tesing that level is very much on the cards, but having said that, front-end sterling rates are pushing lower this morning and this could be having a bearing on the currency"
- Lloyds TSB (based on Reuters)
GBP/USD has successfully tested the ...
Title:
Technical analysis of the EUR/USD pair on March 28th, 2012
Commentary of the EUR/USD pair :
The pair EUR/USD almost reached yesterday the resistance at 1.34 but seems to move towards a pullback on 1.33.
The pair is moving into a short term bullish channel (black lines).
The price has again tested as resistance the lower band of its former medium term bullish channel (purple lines).
We continue to advise long positions as far as 1.3250 is support.
The breakout 1.3350 will give a new buy signal and open the way towards 1.34.
In case of return below 1.3250, we will wait the breakout of 1.32 to advise short positions.
See the previous analysis of the EUR/USD pair of March 27th, 2012
EUR/USD Analysis
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