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Technical Analysis Of The Eur/usdTitle:
Dukascopy Morning Forex Overview : 24/04/2012
Fundamental Analysis
EUR
"Today's dismal PMI figures clearly indicate that the euro zone economy remains in dire straits"
- Martin Van Vliet, senior economist at ING
The euro zone’s manufacturing contracted in April, a sign the economy is far from out of the woods. The purchasing managers index declined to 47.9 from 49.2 in March, Markit data showed on Monday. Reading below 50.0 indicates industry contraction.
USD
"There’s more work to be done in Europe"
- Mark Bronzo, a fund manager at Guggenheim Investments
U.S. stocks declined after data showed that manufacturing contracted in the euro zone.
GBP
"Political developments in Europe are weighing on indices"
- Rupert Osborne, a futures dealer at IG Index
U.K. stocks declined sharply on Monday after manufacturing in the single currency ...
Title:
Technical analysis of the EUR/USD pair on April 24th, 2012
Commentary of the EUR/USD pair :
The pair EUR/USD found support yesterday on 1.31 and just validated a return above 1.3150.
Indicators are mitigated.
We are neutral between 1.3150 and 1.32.
We advise to wait an exit of this range to take position:
- Long above 1.32. The breakout of 1.3250 and 1.33 will both give a new buy signal
- Short below 1.3150. The breakout of 1.31 and 1.3050 will both give a new sell signal.
See the previous analysis of the EUR/USD pair of April 23th, 2012
EUR/USD Analysis
Title:
Dukascopy Afternoon Forex Overview : 23/04/2012
Dukascopy Fundamental Analysis
EUR
Spain faced increasing borrowing costs during successful sale of bonds with two and ten-year maturity. The country's Treasury sold 1,116 billion Euros of two-year bonds at yield of 3.463% and 1,425 billion Euros in ten-year bonds with yield of 5.743%. Demand for Spain's debt was strong as bids surpassed demand 3.3 times.
USD
Stock index futures indicated a lower opening on today’s USA session on the EU concerns. Additionally, news from Wal-mart on a possible bribery case had negative influence on stock indices.
GBP
According to experts from zifx.com, following an extensive rally of GBP/USD, the currency pair is presently overgoing a bearish correction. While the initial support and resistance levels are situated at 1.6037 and 1.6154, respectively, ...
Title:
EUR/USD Fails To Take Out First Resistance At 1.3213
Sunrise Market Commentary
Fixed Income: Political developments supportive for core EMU bonds
Political developments over the weekend are supportive for global core bonds, but strong technical resistance (contract high; inverted channel) come into play. In France, presidential candidate Hollande beat current president Sarkozy in the 1st round of the French election and in the Netherlands, the government fell as Dutch budget talks collapsed.
Currencies: EUR/USD fails to take out first resistance at 1.3213
On Friday, the euro was rather well bid. EUR/USD tested the 1.3213 resistance but failed to sustain above this level. EUR/GBP stayed below the 0.8222 previous range bottom, confirming the break of earlier last week. Cautious sentiment on risk will probably cap the topside ...
Title:
Dukascopy Morning Forex Overview : 23/04/2012
Fundamental Analysis
EUR
"Ifo index paints a too positive picture of the growth prospects for the German economy"
- Carsten Brzeski, senior economist at ING Group
German business confidence unexpectedly improved in April, a sign the euro zone’s largest economy is weathering Europe’s debt crisis. Ifo business climate index, which is based on a survey of 7,000 businesses, rose to 109.9 points from 109.8 points in March.
USD
"A strong Germany helps the euro massively, and helps other assets too"
- Neil Jones, head of European hedge-fund sales at Mizuho Corporate Bank Ltd.
U.S. stocks closed mixed on Friday while German investor confidence unexpectedly improved and blue chip companies from General Electrics to Microsoft reported better than expected earnings.
GBP
"While the month of March ...
Title:
Technical analysis of the EUR/USD pair on April 23th, 2012
Commentary of the EUR/USD pair :
The pair EUR/USD has validated last friday the breakout of 1.3150, offering a buy signal.
At the end of the trading session, the pair has faked the breakout of 1.32.
The pair is opening the week on a bearish gap below 1.32.
Indicators are globaly bullish.
We continue to advise long positions as far as 1.3150 is support.
The breakout of 1.32 will give a new buy signal and open the way towards 1.33.
In case of return above 1.3150, we will wait the breakout of 1.31 to advise short positions.
See the previous analysis of the EUR/USD pair of April 20th, 2012
EUR/USD Analysis
Title:
Dukascopy Afternoon Forex Overview : 20/04/2012
Fundamental Analysis
EUR
Spain faced increasing borrowing costs during successful sale of bonds with two and ten-year maturity. The country's Treasury sold 1,116 billion Euros of two-year bonds at yield of 3.463% and 1,425 billion Euros in ten-year bonds with yield of 5.743%. Demand for Spain's debt was strong as bids surpassed demand 3.3 times.
USD
The American session also gained from the higher-than-estimated German Ifo business climate reading released today. The increase in stocks was also accompanied by a gain in commodity prices and a decline of treasury yields.
GBP
British FTSE 100 index traded modestly higher on Friday as data showed UK retail sales rallied in March, reaching 1.8% growth instead of predicted 0.4% gain. IMI Plc jumped 1.8% after engineering group reported an ...
Title:
Break Lower In EUR/GBP Confirmed
Sunrise Market Commentary
Fixed Income: Core global bonds remain well bid, but fail to profit from weak data
While the Bund set a new contract high, the price action showed little momentum. Rumours about a French rating downgrade gave core bonds a shot in the arm, but subsequent weak eco data were largely ignored, triggering some profit taking in late US session.
Currencies: Break lower in EUR/GBP confirmed
Also in EUR/USD rather dull session leaving the pair little changed in the close. Intra-day decline on French rating rumours was later on reversed. Upcoming IMF meeting, French presidential elections and FOMC meeting might keep investors sidelined today.
The Sunrise Headlines
US Equities dropped for a second straight session on Thursday. The S&P fell 0.59% as weak ...
Title:
Dukascopy Morning Forex Overview : 20/04/2012
Fundamental Analysis
EUR
"The debt crisis is far from over still and I think Spain will be worse before it gets better"
- Henrik Drusebjerg, a senior equity strategist at Nordea Bank AB
Spain sold 2.54 billion euros of debt dated 2014 and 2022 on Thursday, above the target range of 1.5 to 2.5 billion euros for the auction.
USD
"Progress in the labor market is not quite as strong as people had hoped, but we are still on a recovery track here"
- Scott Brown, chief economist at Raymond James & Associates Inc.
The number of Americans claiming for unemployment benefits declined by 2,000 to 386,000 in the week ended April 14 from the week before, said the Department of Labor on Thursday.
GBP
"Economic data does look like it is showing some stabilization"
- Samantha Fitzpatrick, senior ...
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