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Trade Long PositionsTitle:
No escaping European risks
(Reuters) - The prospect of political risks joining economic and debt problems on the euro zone's list of worries, just as the outlook for global growth becomes uncertain, will keep investors focused firmly on safety plays in the coming week.
The implications of French and Greek elections for the region's drive to impose fiscal austerity will be crucial, while March readings on industrial production in Spain, Germany, Italy and France will also highlight the challenges facing the region.
China takes centre stage towards the end of the week with the release of inflation, retail and factory output numbers, as signs of a weaker U.S. economic performance and the deepening recession in Europe make Asia's strength more crucial.
The disappointing 115,000 increase in U.S. non-farm payrolls in ...
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ECB Press Conference Helps Euro Recover
After falling throughout the morning session, the euro was able to stage a partial recovery during afternoon trading yesterday, following comments from ECB President Draghi who reiterated his earlier predictions of euro-zone economic growth during the second half of the year. Turning to today, investors will be carefully monitoring the US Non-Farm Payrolls, set to be released at 12:30 GMT. Analysts are forecasting today's news to come in at 173K. While that number would represent a significant increase over last month's Non-Farm figure, it is not considered high enough to signal strong growth in the US labor sector. Still, should today's news come in at or above expectations, the greenback could see gains to close out the week.
Economic News
USD - All Eyes on Today's US Non-Farm ...
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Technical analysis of the XAU/USD (Gold) pair on May 4th, 2012
Commentary of the XAU/USD (Gold) pair:
The pair XAU/USD has validated yesterday the breakout of 1640 points and is back into its bearish channel (purple lines).
The pair is still moving below the lower band of its long term bullish channel.
Indicators are globaly bearish.
We maintain to trade only short positions as far as 1640 points is resistance.
The breakout of 1630 and 1620 will both give a new sell signal and open the way towards 1600 points.
In case of return above 1640 points, we will wait the breakout of 1650 to advise long positions.
See the previous analysis of the XAU/USD pair of May 3rd, 2012
XAU/USD Analysis
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Technical analysis of the EUR/USD pair on May 4th, 2012
Commentary of the EUR/USD pair :
The pair EUR/USD made yesterday a low in extension on 1.31 but continues to move on 1.3150.
The pair is also testing the midline of its bearish channel (purple lines).
All indicators are now bearish.
We now advise to trade the pair according to the key level 1.32:
- Only long positions above this level. The breakout of 1.3250 and 1.33 will both give a new buy signal
- Only short positions below this level. The breakout of 1.3150 and 1.31 will both give a new sell signal.
See the previous analysis of the EUR/USD pair of May 3rd, 2012
EUR/USD Analysis
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On to Barcelona
Forex News and Events:
Expectations are increasing for today’s ECB rate announcement and press conference. It's generally consensus that no major decision on interest rates or change in operations will come out of the ECB's meeting in Barcelona. There is a growing anticipation that Draghi will sound significantly more dovish considering the recent deterioration in Eurozone economic data. Also it has not been disregarded that President Draghi endorsed the theme of encouraging growth within the context of a broader fiscal compact. The market is also buzzing over the change in the meeting's location to in Barcelona this suggested that the ECB want to illustrate the gravity of the facing the EU periphery. FX risk appetite stabilized in the Asian session but only after a very hard day for USD ...
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Weak Euro-Zone Data Sends EUR Tumbling
A batch of negative euro-zone economic indicators, including a worse than expected manufacturing PMI, drove the EUR/USD to its lowest level in over a week during trading yesterday. The news also resulted in the euro dropping over 140 pips against the yen during the European session. Turning to today, European news is forecasted to generate significant market volatility. Traders will want to pay attention to the results of a Spanish debt auction, as well as to the ECB Press Conference at 12:30 GMT. Should any of the news signal further troubles regarding the euro-zone economic recovery, the common currency could drop further before markets close for the week.
Economic News
USD - ADP Employment Figure Leads to Dollar Losses
The US dollar fell vs. the safe-haven JPY throughout European ...
Title:
Technical analysis of the EUR/USD pair on May 3rd, 2012
Commentary of the EUR/USD pair :
The pair EUR/USD has validated yesterday the breakout of 1.32, offering a sell signal and is currently testing the minor support at 1.3150.
The pair is also testing the lower band of its bearish channel (purple lines).
All indicators are now bearish.
We now advise to trade the pair according to the key level 1.32:
- Only long positions above this level. The breakout of 1.3250 and 1.33 will both give a new buy signal
- Only short positions below this level. The breakout of 1.3150 and 1.31 will both give a new sell signal.
See the previous analysis of the EUR/USD pair of May 2nd, 2012
EUR/USD Analysis
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AUD Tumbles Following Interest Rate Cut
The AUD took heavy losses vs. its main currency rivals during yesterday's trading session, falling a bigger than expected cut in Australian interest rates. The AUD/USD fell over 100 pips following the news, reaching as low as 1.0304 during early morning trading. The aussie also fell close to 100 pips against the JPY and 145 pips against the euro. Turning to today, traders will want to focus on the UK Construction PMI at 8:30 GMT, followed by the US ADP Non-Farm Employment Change at 12:15 GMT. Any positive news could help both the British pound and US dollar reverse their current bearish trends.
Economic News
USD - US Manufacturing PMI Gives USD Boost
After taking losses against most of its main currency rivals throughout the overnight and morning sessions yesterday, the USD was able to ...
Title:
Technical analysis of the EUR/USD pair on May 2nd, 2012
Commentary of the EUR/USD pair :
The pair EUR/USD has validated yesterday the breakout of its bullish slant and is back below 1.3250.
Indicators stay globaly bullish.
We now advise to trade the pair according to the key level 1.32:
- Only long positions above this level. The breakout of 1.3250 and 1.33 will both give a new buy signal
- Only short positions below this level. The breakout of 1.3150 and 1.31 will both give a new sell signal.
See the previous analysis of the EUR/USD pair of May 1st, 2012
EUR/USD Analysis
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