Browsing all articles from September, 2012
Sep
28

AUD/USD D1 Technical September 28

On Daily chart AUD/USD has strong support at 1.0360 and resistance lies around 1.0475 level. The price action around 1.0470 should be watched, because there is stong bearish trend, Previous price action on 30/4 clear given bearish signals. So this level of AUD/USD is very important. Bollinger bands are not providing clear signals. Today’s closer will decide the next move.

Sep
28

USD/CAD D1 Technical September 28

USD/CAD is still under pressure,its is testing its resistance 0.9840. Today if the pair close above this level, it will get strength to move towards North. If it break its support at 0.9755 level then it will move opposite direction to 0.9692-30 level. GDP news has high impact on this pair.

Sep
28

EUR/USD D1 Technical September 28

EUR/USD testing its resistance but seems like its will decline for retracement. Today the pair has support at 1.2860 and strong resistance at 1.2968 level. If it close below 1.2880 level, that gives the pair a bearish trend. Bollinger bands are not providing clear signals. IF pair manage to break its resistance today, it will confirm more bullish strength and targets 1.3000 key level.

Sep
28

GBP/USD D1 Technical September 28

Cable has a strong support at 1.6150, from this point the pair move to North but resist from 1.6270. There are clear signal for bullish movement, if the GBP/USD manage to close above 1.6150. So we catch the price at 1.6150 carefully. If you see the RSI value is decreasing to 40 that means bullish trend is being formed in past sessions.

Sep
27

EUR/USD: Fundamental Analysis SEPT 27

 

I thought it would be 1.2800 but it turned to be 1.2825. The EUR/USD bounced strongly just shy of the mark and is currently trading at 1.2920 but hey it’s Forex and anything can happen. Speculations that the Chinese banks are going to do more to save the ailing economy and that Spain pledges to cut its deficit triggered the bounce.

From the news desk there were some encouraging reports especially The GER Unemployment Change (Sep) which signified a reduction in the unemployment from 11k to 9 k where as the general consensus was 10k however the GER Unemployment Rate s.a. (Sep) remained same at 6.8% with the previous. GER Import Price Index (MoM) (Aug) showed improvement from 0.7% to 1.3% where as speculations were of only 0.8%. The imported goods prices had improved at a greater rate than the monthly figure a data release the GER Import Price Index (YoY) (Aug) reported which was released at 3.2% from the previous of 1.2% and the market expectations were at 2.7%.Other reports showed that the consumer confidence in the Europe improved from 24.6 to 25.9. The EUR Business Climate (Sep) however could not improve as it was released at -1.3 from the previous -1.18. The Business climate also shadowed the industrial and services sector of the region as the EUR Industrial Confidence (Sep) contracted to -16.1 from -15.4 and the EUR Services Sentiment (Sep) lowered to -12 from -10.8 where as speculations were of -11.0.

A couple of strong market moving indicators were released from the US of them the most important was the USD Durable Goods Orders (Aug) which fell to -13.2% from -3.3% and the market expectations were -5%. Also released from was the USD Gross Domestic Product Annualized for the second quarter. The GDP fell to 1.3% from 2% where as the market was expecting a figure of 1.7%. However the Job industry of the country showed some reasonable improvements. The USD Initial Jobless Claims (Sep 22) lowered to 359k form 385k and the USD Continuing Jobless Claims (Sep 15) reduced to 3.271 M from 3.275 M where as markets were expecting an increase to 3.285 M. The housing reports were not as encouraging as the Job loss reports and data showed the USD Pending Home Sales (MoM) (Aug) remained at -2.6% same as the previous and the USD Pending home sales (YoY) (Aug) decreased to 10.7% from 15.2% where the general consensus was only 14.2%.

Keeping in mind today’s bounce of the pair with dismal data from US and rumors from China the pair may have seen a low here. If the pair falls short of another attempt on 1.2825 than more gains can be expected tomorrow. Buying the pair on dips remains the strategy.

 

Written By Maju.

Sep
27

USD/JPY D1 Technical September 27

USD/JPY has a support at 77.55. The price at this point should be watched carefully it can provide this pair a very good bullish trend. Bollinger bands are showing selling signals but as long as pair hold its support, more bullish chances are there for USD/JPY .Unemployment Claims, Retail Sales and Tokyo Core may have impact on currency.

Sep
27

AUD/USD D1 Technical September 27

AUD/USD is in bullish trend from its strong support 1.0320 and moving towards north to break resistance 1.0430. Bollinger bands are not showing clear signal. Today’s close will decide the trend for the currency. Unemployment Claims, Pending Home Sales can affect the pair.

Sep
27

USD/CAD D1 Technical September 27

USD/CAD is still in bullish mood to break its resistance 0.9855. Yesterday it can’t manage to close above its resistance. So watch the level0.9850 carefully. If today’s closing is  above 0.9850-60 will provide more upstream to the pair. Keep eye on news of Unemployment claims, Core Durable Goods Order, can change the scenario.

Sep
27

EUR/USD D1 Technical September 27

 

EUR/USD is moving in upward trend today. Pair has support at 1.2835 which breaks its downward trend. The position of this pair is not clear, if toady close is above 1.2915 will indicate the bullish trend for the EUR/USD. Important is to wait for news like core durable goods order, Unemployment Claims and Pending Home Sale which can give big move to pair.

Sep
27

GBP/USD D1 Technical September 27

Cable hold its uptrend towards its strong resistance 1.6350, if it breaks this level successfully then its next target will be 1.6400-1.6430. Bollinger bands are still showing buying trend. Today closing above 1.6200 will decide the next moment of this pair. There are some news which has high impact on pair (Core Durable Goods Order, Unemployment Claims and Pending Home Sales).