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Technical analysis of the GBP/JPY pair on April 27th, 2011
Commentary of the GBP/JPY pair :
The pair GBP/JPY continues to test the support at 134.32. We maintain to trade only short positions as far as 135.85 (level 23.60%) is resistance. The breakout of 134.32 will give a new sell signal and open the way towards 133.27 (level 38.20%). However, if 135.85 is broken, a buy signal will be given.
See the previous analysis of the GBP/JPY pair of April 26th, 2011
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Technical analysis of the GBP/USD pair on April 27th, 2011
Commentary of the GBP/USD pair :
The pair GBP/USD continue to move into its neutral zone between 1.64 and 1.65 in its bullish channel. We maintain to wait a return above 1.65 to trade again long positions. However, if 1.64 is broken, a sell signal will be given.
See the previous analysis of the GBP/USD pair of April 26th, 2011
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Technical analysis of the NZD/USD pair on April 27th, 2011
Commentary of the NZD/USD pair :
The pair NZD/USD took up its bullish movement and is currently testing the resistance at 0.81. We maintain to trade only long positions as far as 0.80 is support. The breakout of 0.81 will give a new buy signal and open the way towards 0.82.
See the previous analysis of the NZD/USD pair of April 26th, 2011
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Technical analysis of the USD/CAD pair on April 27th, 2011
Commentary of the USD/CAD pair :
The pair USD/CAD took up its bearish movement after a test of the resistance at 0.9550. We maintain to trade only short positions as far as this level is resistance. The breakout of 0.9475 will give a new sell signal. However, if 0.9550 is broken, we will be neutral between thisl evel and 0.9593.
See the previous analysis of the USD/CAD pair of April 26th, 2011
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Technical analysis of the USD/CHF pair on April 27th, 2011
Commentary of the USD/CHF pair :
The pair USD/CHF continued its bearish movement and the braekout of 0.88 gave us a new sell signal. Then, the pair tested the next support at 0.87. We maintain to trade only short positions as far as the pair is moving into its bearish channel. The breakout of 0.87 will give a new sell signal and open the way towards 0.86.
See the previous analysis of the USD/CHF pair of April 26th, 2011
Title:
Technical analysis of the USD/JPY pair on April 27th, 2011
Commentary of the USD/JPY pair :
The pair USD/JPY continues its bearish movement and is testing the support at 81.66. Currently, the pair is also testing the upper band of its bearish channel. We maintain to trade only short positions as far as 82.25 is resistance. The breakout of 81.66 will give a new sell signal, opening the way towards 80.95 (level 50%). However, if 82.25 is broken, we will be neutral between this level and 82.67.
See the previous analysis of the USD/JPY pair of April 26th, 2011
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RTFX Daily Market Comments: 04/27/2011
EUR – USD
It should try higher up to 1.4650 - 1.4703. Entry point 1.4598 or 1.4569. After this rise, a correction is expected.
USD – CHF
Market should not go lower than 0.8749 - 0.8714. After this move down it should go up to 0.8802 - 0.8821 area.
GBP – USD
It is likely to fall towards 1.6431 - 1.6381 unless a corrective rally breaks the 1.6507 resistance. Stop above 1.6532 zone.
USD – JPY
It might hold above 81.52 or 81.37 for a rise towards above 81.86. Stop loss below 81.19 zone.
USD – CAD
It looks set to visit further lower territory down to around 0.9506 - 0.9487. Its corrective attempts should fail ahead of 0.9539 - 0.9554. Stop loss above 0.9592 zone.
NZD – USD
Currently uptrend should end around 0.8064 - 0.8093 area. A correction down to 0.8017 - 0.7998 ...
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U.S. slow growth raises protectionist threat: economist
(Reuters) - Persistently high unemployment and a weak economic recovery could persuade U.S. policymakers to slap protectionist duties on imports from China and around the world, an economist said on Tuesday.
"Trade protection is far from an ideal policy, and indeed it carries serious dangers, but in current circumstances it may offer America the only way out of its difficulties," Paul Ashworth, chief U.S. economist for Capital Economics in Toronto, said in an analytical note.
Having largely exhausted fiscal and monetary tools to boost U.S. economic growth, Congress and President Barack Obama might realistically look at trade measures aimed at negating China's currency-derived trade advantage, Ashworth said.
Possible Republican presidential candidate Donald Trump has already called for ...
Title:
Dukascopy Afternoon Forex Overview: 26/04/2011
Previous session overview
Tuesday brings more downward pressure on the dollar. Geithner acknowledges unemployment is still "very high" and the economy feels "unfairly hard." As part of the market still considers more dollar-diluting Fed stimulus an outside possibility, the Treasury secretary's comments hardly bring relief to an under-siege greenback.
The dollar continued to weaken in European hours as traders returned from a 4-day weekend and sat on negative dollar bets ahead of Wednesday's interest-rate decision by the FOMC and Bernanke's subsequent presser.
The euro rose to a 16-month high of USD1.4653 and the dollar hit another record low against the Swiss franc while the ICE Dollar index touched a 3-year nadir.
After a choppy overnight session, the Canadian dollar is trading ...
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