internationallove Posted August 17, 2012 Author Share Posted August 17, 2012 "AUD/USD: ready for a further drop"(2012-08-17) AUD/USD: ready for a further drop On Monday AUD/USD tested the lower boundary of the upper channel which exists since June after the RBA dovish comments. The pair trades around $1.0435 (the lowest level since July 27) after a slide lower. As can be seen from the daily chart, AUD/USD is forming a “rounded top” pattern since late July with a neckline at $1.0435. A close below the level will pave the ground for a further decline to $1.0290 (200-day MA). Chart. Daily AUD/USD Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here http://www.fbs.com/analytics/2012-08-17/18853-audusd-ready-further-drop Quote Link to comment Share on other sites More sharing options...
internationallove Posted August 17, 2012 Author Share Posted August 17, 2012 "Merkel: Germany is in line with ECB to save the euro"(2012-08-17) Merkel: Germany is in line with ECB to save the euro According to German chancellor Angela Merkel, her country is committed to doing everything it can to preserve the euro and called once more for fiscal discipline. Mrs. Merkel praised the European leaders for making progress, but underlined the time is pressing. These days Angela Merkel is passing through difficult times. As leader of Europe’s largest economy and the biggest single contributor to euro-region bailouts, Merkel is facing pressure from Italy and Spain to pool debt and to bring down bond yields, from Greece to back an easing of its austerity timetable and from the ECB for politicians to take the lead in fighting the crisis. She also faces domestic pressure from her coalition partners to refuse any more aid for Greece. Next week Merkel starts a new round of political activity: Germany hosts French President Francois Hollande on August 23, one day before Greek Prime Minister Antonis Samaras visits Berlin for talks. Source: Bloomberg Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here http://www.fbs.com/analytics/2012-08-17/18860-merkel-germany-line-ecb-save-euro Quote Link to comment Share on other sites More sharing options...
internationallove Posted August 21, 2012 Author Share Posted August 21, 2012 "FX majors from top forecasters"(2012-08-20) FX majors from top forecasters Here are the forecasts for EUR/USD, GBP/USD, USD/JPY, USD/CHF and EUR/JPY from top forecasters. Data were submitted on August 17. Source: FX Week Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here http://www.fbs.com/analytics/2012-08-20/18868-fx-majors-top-forecasters Quote Link to comment Share on other sites More sharing options...
internationallove Posted August 21, 2012 Author Share Posted August 21, 2012 "Commerzbank: levels for USD/JPY"(2012-08-20) Commerzbank: levels for USD/JPY Technical analysts at Commerzbank think that USD/JPY is targeting 79.64 (May 1 minimum) and 79.92/80.15 (June 11 maximum, July maximums and May 22 maximum). In their view, support for the pair lies at 79.22 (200-day MA), 79.08 (55-day MA) and 78.80 (August 9 maximum). Above the latter, there’s the immediate upside momentum. Chart. Daily USD/JPY Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here http://www.fbs.com/analytics/2012-08-20/18870-commerzbank-levels-usdjpy Quote Link to comment Share on other sites More sharing options...
internationallove Posted August 21, 2012 Author Share Posted August 21, 2012 "AUD/USD extends gains"(2012-08-20) AUD/USD extends gains On Monday AUD/USD trades on the upside above $1.0450 and close to the lower boundary of the upward channel, existing since June. The pair needs to fix above $1.0530 (August 17 maximum) to show the downward correction is over. On the upside strong resistance for AUD/USD lies at $1.0600 and at $1.0660 (resistance line, connecting 2011 and 2012 maximums). Аnalysts at Westpac expect the pair to slide towards $1.0300 in the near-term on the back of falling iron prices and waning QE3 hopes. On the way towards this levels strong support lies at $1.0410 (August minimum). Chart. Daily AUD/USD Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here http://www.fbs.com/analytics/2012-08-20/18873-audusd-extends-gains Quote Link to comment Share on other sites More sharing options...
internationallove Posted August 21, 2012 Author Share Posted August 21, 2012 "Wells Fargo: GBP/USD growth is limited"(2012-08-20) Wells Fargo: GBP/USD growth is limited On Monday GBP/USD extends the downside for a second consecutive day, but trades within the August uptrend. The pair trades below the 200-day MA ($1.5715). Strong resistance for the pair lies at $1.5768/80 (June and July maximums – a two-month resistance, 50% Fib. retracement of a May drop) and at $1.6302 (2012 maximum). Support is seen at $1.5392 (July minimum), $1.5267 (June minimum) and at $1.5233 (2012 minimum). According to specialists at Wells Fargo, in a near-term a brighter European and global market outlook could keep supporting the pair, but the medium-term prospects for the upside are limited. Chart. Daily GBP/USD Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here http://www.fbs.com/analytics/2012-08-20/18874-wells-fargo-gbpusd-growth-limited Quote Link to comment Share on other sites More sharing options...
internationallove Posted August 21, 2012 Author Share Posted August 21, 2012 "Morgan Stanley: buy EUR/JPY"(2012-08-20) Morgan Stanley: buy EUR/JPY Morgan Stanley recommends buying EUR/JPY at 97.00 with stop at 95.70 and target at 101.60 yen. Chart. Daily EUR/JPY Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here http://www.fbs.com/analytics/2012-08-20/18876-morgan-stanley-buy-eurjpy Quote Link to comment Share on other sites More sharing options...
internationallove Posted August 21, 2012 Author Share Posted August 21, 2012 "RBS: trading GBP"(2012-08-20) RBS: trading GBP Analysts at RBS claim British pound has switched to buy signal versus most of the rest of the G10 currencies, except USD (GBP/USD keeps testing 200-day MA), NOK, SEK and CAD. Such assumption is based on a simple 5- vs. 20-day MA momentum trading strategy. The biggest potential gains may be achieved in GBP/JPY and GBP/AUD. The specialists note that although GBP/JPY may be over one standard deviation expensive, it’s difficult for the pair to move back towards fair value as the UK/JP 2-year rate spread has moved in favor of GBP since the BoE inflation report (the reduction in the BoE easing expectations) and the risk tone is positive. If forex markets can play catch up to moves in other asset classes, AUD and NZD will be best placed to benefit vs. GBP. Chart. Daily GBP/JPY Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here http://www.fbs.com/analytics/2012-08-20/18877-rbs-trading-gbp Quote Link to comment Share on other sites More sharing options...
internationallove Posted August 21, 2012 Author Share Posted August 21, 2012 "Macroeconomic indicators"(2012-08-20) Macroeconomic indicators The table below provides recent data on the main macroeconomic indicators and is an extremely valuable resource for any trader. Table. Main macroeconomic indicators Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here http://www.fbs.com/analytics/2012-07-30/18520-macroeconomic-indicators Quote Link to comment Share on other sites More sharing options...
internationallove Posted August 21, 2012 Author Share Posted August 21, 2012 "August 21-24: economic events"(2012-08-20) August 21-24: economic events Tuesday, August 21 Australia: The RBA will release monetary policy meeting minutes (1:30 GMT). The central bank may warn about the high level of Australian dollar which is close to 30-year highs. Few economists expect the RBA to intervene in order to contain Aussie’s advance. The central bank is more likely to cut interest rates if it finds the strong national currency is actively damaging Australian economy. For the moment, the RBA is signaling that it’s happy with interest rates where they are. Analysts at CMC Markets think that “traders will be looking for clues that the rate easing cycle is already over.” New Zealand: The RBNZ’s inflation expectations survey (3:00 GMT). Westpac says that “often an interest rate market mover, the 2-year number may fall from 2.4% to 2.2%, a headwind for swap rates and the New Zealand dollar.” Britain: Public sector net borrowing (8:30 GMT). After a large deficit in the June reading, the markets are predicting a surplus in July. This would be bullish for the pound. Japan: Trade balance (23:50 GMT). Trade deficit is expected to widen in July to 460 billion yen from 300 billion yen in June. Wednesday, August 22 Euro area: Luxembourg’s Prime Minister and the head of Euro Group Jean-Claude Juncker will will meet with Greece’s Prime Minister Antonis Samaras to discuss a 2-year extension of the indebted nation’s fiscal adjustment program. Canada: Retail sales (12:30 GMT) increased by 0.3% in May after 0.5% drop in April, while the core reading added 0.5% after sliding by 0.4%. According to the forecasts, retail sales may have gained 0.2% in June, while core sales – added 0.4%. US: Existing home sales (14:00 GMT). The annual adjusted reading fell from a revised 4.62 million in May to 4.37 million in June. An increase to 4.52 million is expected this time (July). The FOMC meeting minutes (18:00 GMT). Societe Generale claims that “the minutes will give additional hints on the FOMC stance”. Credit Suisse says that the possibility of the Fed announcing QE3 next month has declined to 50%. Thursday, August 23 China: HSBC flash manufacturing PMI (2:30 GMT). The index rose from 48.2 in June to 49.3 in July. This time August reading is released. A reading below 50.0 indicates industry’s contraction. Euro area: French, German and euro area’s PMIs. Rabobank underlines that “confidence indicators from the euro zone likely to receive the most attention this week as they provide a timely snapshot of sentiment across a range of sectors.” Saxo Bank expects that readings will be weak and the pressure on ECB President Mario Draghi to act will strengthen. Societe Generale, on the contrary, claims that “the euro area manufacturing PMI will post the first rise in 6 months, increasing to 45.0 in August, while the service sector index should increase to 48.6. Despite the improvement both indices remain well below the critical 50 level, which in turn should be consistent with another contraction in euro area GDP in Q3 in line with our current forecast.” German Chancellor Angela Merkel is due to meet French President Francois Hollande. US: Unemployment claims (12:30 GMT) will likely come little changed around 365K. New home sales (14:00 GMT) may have risen from the lowest level in more than a year of 350K in June to 362K last month. Australia: The RBA Governor Stevens speaks (23:30 GMT). Deutsche Bank says that “the rhetoric from the RBA indicates a very high hurdle to moving policy from here. For now they appear quite comfortably on hold and this week’s communication will likely reinforce that.” Friday, August 24 Euro area: Greece’s Prime Minister Samaras meets Merkel in Berlin ahead of the return of the Troika (EU, IMF and ECB) to Athens in September. On Saturday Samaras will meet Francois Hollande. Britain: Revised GDP (8:30 GMT). The first revision of GDP is likely to show a better outcome than the preliminary pessimistic reading of a 0.7% contraction. Economic growth in Q2 is predicted to shrink by only 0.5% due to a smaller than estimated drop in construction activity and industrial production. US: Core durable goods orders (12:30 GMT). The indicator may have climbed by 0.5% after losing 1.4% in June. Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here http://www.fbs.com/analytics/2012-08-20/18881-august-21-24-economic-events Quote Link to comment Share on other sites More sharing options...
internationallove Posted August 21, 2012 Author Share Posted August 21, 2012 "August 21: forex news"(2012-08-21) August 21: forex news It’s another typical summer holiday trading day. EUR/USD is moving gradually up today trading in the $1.2360 area. There are no major EUR-related data releases. Spain will offer 4.5 billion euro in 12-18 month bills. Spanish 10-year yields hit yesterday 7-week minimum at 6.16%. The series of important meetings begins in the euro area; follow our updates. GBP/USD has risen above 200-day MA ($1.5713) and is moving up towards the 100-day one. Let’s see if sterling manages to hold its grounds today. Public sector net borrowing figures are released today in the UK at 8:30 GMT. USD/JPY recoiled down from the 100-day MA returning to the 200-day one (79.22), the key near-term support. Risk sentiment remains high. AUD/USD rose to $1.0480 levels after the RBA minutes showed the regulator think domestic economic growth will offset the global outlook. The central bank didn’t signal any intervention is needed to curb the Aussie’s strength. The Australian and New Zealand dollars were also supported by expectations talks among European leaders this week will lead to stronger measures to counter the region’s debt crisis, boosting risk demand. NZD/USD trades above $0.8100. USD/CAD trades below parity and close to a four-month low on the back of the improved economic growth prospects. Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here http://www.fbs.com/analytics/2012-08-21/18882-august-21-forex-news Quote Link to comment Share on other sites More sharing options...
internationallove Posted August 21, 2012 Author Share Posted August 21, 2012 "What’s new in the euro zone?"(2012-08-21) What’s new in the euro zone? Here we try to systematize the latest events 1. On Monday the ECB finally voiced its displeasure at the weekend report by Der Spiegel on capping periphery EU bond yields to bring down borrowing costs for troubled governments, saying it was misleading to report on decisions that hadn’t been made. 2. Also yesterday the Bundesbank criticized the ECB’s potentially unlimited bond purchasing program, saying that such decisions should be made by national governments or parliaments, not by central banks. 3. Luxembourg Prime Minister Jean-Claude Juncker visits Greece on Wednesday to discuss with Prime Minister Antonis Samaras the country’s request for a 2-year extension to its fiscal adjustment program. Then Samaras will go to Berlin to see Angela Merkel on Friday and to Paris on Saturday for a rendez-vous with Francois Hollande. Antonis Samaras. Photo by Chris Ratcliffe/Bloomberg 4. Greece is still considering 11.5 billion euro ($14.2 billion) of spending cuts for the next 2 years, according to the nation’s Finance Minister. The package will be ready by the time the Troika (ECB. EU, IMF) returns to Athens at the beginning of September. Photo: Bloomberg 5. The leaders of Germany and France will meet on Thursday trying to reconcile their different views on how to get on in combating the region’s debt crisis. Merkel is expected to underline that Greece has to fulfil its obligations under the most recent 130-billion euro rescue program and shouldn’t expect Germany to approve another bailout. Photo from marketnightshift.wordpress.com Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here What Quote Link to comment Share on other sites More sharing options...
internationallove Posted August 21, 2012 Author Share Posted August 21, 2012 "AUD/USD extends the upside"(2012-08-21) AUD/USD extends the upside AUD/USD rocketed t0 $1.0510 on RBA meeting minutes and risk-on market sentiment. The pair, therefore, managed to bounce back from the lower boundary of an upward channel, existing since June. If AUD/USD manages to close the day above the $1.0500 level, in a near-term further growth towards $1.0600 will become likely. On the upside the pair is limited by the resistance line, connecting 2011 and 2012 maximums. On a downside support lies at $1.0475 (beginning of the May downtrend) and $1.0290 (200-day MA). Chart. Daily AUD/USD Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here http://www.fbs.com/analytics/2012-08-21/18886-audusd-extends-upside Quote Link to comment Share on other sites More sharing options...
internationallove Posted August 21, 2012 Author Share Posted August 21, 2012 "EUR/USD jumped above $1.2400"(2012-08-21) EUR/USD jumped above $1.2400 EUR/USD jumped to the levels above $1.2400 getting above the 55-day MA to the downtrend resistance line from May maximums. EUR/JPY reached 6-week maximum at 98.60 yen. Euro is supported as the meetings of the euro zone’s leaders which will meet later this week ignited hopes will agree to extend Greece’s fiscal adjustment program. Nomura is optimistic: “They will get there. The euro could move higher. Riskier assets are doing OK.” In addition, Fitch’s Managing Director Riley said that the ECB might act even without the Bundesbank and showed an optimistic outlook regarding Europe adding that Italy doesn’t need more austerity. The key resistance for EUR/USD lies at $1.2450. Commerzbank recommend watching whether the pair will be able to close above the 55-day MA today in New York. There are many sell orders in the $1.2430/50 area, and above it one finds more buy stops. At the same time, it seems that the gloom will never leave the region’s horizon. Standard Chartered warns that “this is a period of calm before a resumption of the bear trend for euro.” The bank predicts EUR to slide to $1.18 by the end of September. Chart. Daily EUR/USD Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here http://www.fbs.com/analytics/2012-08-21/18888-eurusd-jumped-above-12400 Quote Link to comment Share on other sites More sharing options...
internationallove Posted August 21, 2012 Author Share Posted August 21, 2012 "NZD/USD: technical comments"(2012-08-21) NZD/USD: technical comments On Tuesday NZD/USD reached $0.8130, moving up for a second consecutive day. The pair, therefore, once again bounced from the upper boundary of the July sideways channel ($0.8067). However, on the upside NZD/USD is limited by a strong resistance line, connecting July 2011 and Feb. 2012 maximums. Further there is a strong resistance around $0.8200. Support lies at $0.8067, $0.7975 (200-day MA) and $0.7840 (July minimums). Chart. Daily NZD/USD Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here http://www.fbs.com/analytics/2012-08-21/18891-nzdusd-technical-comments Quote Link to comment Share on other sites More sharing options...
internationallove Posted August 21, 2012 Author Share Posted August 21, 2012 "USD/JPY: technical levels"(2012-08-21) USD/JPY: technical levels On Monday USD/JPY recoiled down from the 100-day MA at 79.60. At the moment the pair’s trading below this level, but still supported by the 200-day MA at 79.22. Further support lies at 79.06 (5-day MA), 78.90 (50% Fibonacci retracement of the recent advance) and 78.60 (the top of the previous range), 78.30, 78.15. As long as support at 78.60 holds, we’d look for the chance to buy the pair. Bank of America: “US dollar may be poised for more gains versus Japan’s currency if it breaks the top of the weekly Ichimoku Cloud at 80.55/60. A weekly close through here would reinstate the cyclical turn in trend view from USD/JPY bearish to bullish.” Chart. Daily USD/JPY Comment here USD/JPY: technical levels // FBS Markets Inc. Quote Link to comment Share on other sites More sharing options...
internationallove Posted August 21, 2012 Author Share Posted August 21, 2012 "Commerzbank: comments on GBP/USD"(2012-08-21) Commerzbank: comments on GBP/USD According to Commerzbank analysts, GBP/USD growth remains limited by the $1.5762/80 resistance area. If the pair manages to break above these levels, a rise towards $1.5805 (April minimums) and $1.5904 (61.8% Fib. retracement of a May decline) will become possible. However, as long as the daily close above the $1.5762/80 area is not made, a drop to $1.5575 (August 10 minimum) is on the cards. Next support lies at $1.5490 (August minimum). Chart. Daily GBP/USD Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here http://www.fbs.com/analytics/2012-08-21/18898-commerzbank-comments-gbpusd Quote Link to comment Share on other sites More sharing options...
internationallove Posted August 21, 2012 Author Share Posted August 21, 2012 "Credit Suisse: bearish on EUR/GBP"(2012-08-21) Credit Suisse: bearish on EUR/GBP According to specialists at Credit Suisse, EUR/GBP may drop to 0.7695 (October 2008 minimum), if it breaks below the support at 0.7755 (July minimum). Specialists remain bearish on the euro, even if prices remain in a tight range near-term. Chart. Weekly EUR/GDP Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here http://www.fbs.com/analytics/18903-credit-suisse-bearish-eurgbp Quote Link to comment Share on other sites More sharing options...
internationallove Posted August 22, 2012 Author Share Posted August 22, 2012 "August 22: forex news"(2012-08-22) August 22: forex news Demand for the high-yielding currencies is low as the risk aversion increased. The Australian and New Zealand dollars weaken following the Asian stocks ahead of tomorrow PMI releases in Europe and China. Reports are predicted to show continued contraction in German and French manufacturing. The flash euro-area manufacturing PMI is to indicate contraction for a 13 consecutive month. A report on Chinese manufacturing from HSBC is also due. What’s more, AUD and NZD are under pressure ahead of the housing market data (14:00 GMT) and the Fed meeting minutes (18:00 GMT) as the expectations for QE3 are likely to drop. AUD/USD slid to $1.0435 levels, while NZD/USD – below $0.8100. USD/CAD bounced back from an almost four-month low after touching 0.9840 yesterday. EUR/USD put on the brakes after adding more than 100 pips on Tuesday. The pair’s trading a bit on the downside consolidating after reaching $1.2487 yesterday. Again there’s no major macroeconomic EUR-related data today. Germany will sell up to 5 billion euro in 2-year notes at 06:00 GMT. Yesterday’s Spanish auction was successful enough and the nation’s 10-year yields declined for the 10th day in a row to 6.2%. Also note that more volatility this week may come from the meeting of European leaders. Today Greek Prime Minister Antonis Samaras meets Jean-Claude Juncker, the head of the Euro Group. GBP/USD has conquered new highs around $1.5800 yesterday. USD/JPY kept descending from more than a month maximum at 79.65 to the support of 200-day MA. USD/CHF dropped to August minimum of 0.9620. Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here http://www.fbs.com/analytics/2012-08-22/18909-august-22-forex-news Quote Link to comment Share on other sites More sharing options...
internationallove Posted August 22, 2012 Author Share Posted August 22, 2012 "Key options expiring today"(2012-08-22) Key options expiring today Market prices tend to move towards the strike price at the time large vanilla options (ordinary put and call options) expire. It happens (all things equal) as each side of the deal seeks to hedge its risk exposure. This action is most noticeable ahead of 10 a.m. New York time when the majority of options expire (2 p.m. GMT). Here are the key options expiring today: EUR/USD: $1.2300, $1.2450, $1.2460, $1.2500, $1.2525; GBP/USD, $1.5620, $1.5785, $1.5800; USD/JPY: 79.15, 79.50, 79.65; AUD/USD: $1.0450, $1.0500; EUR/GBP: 0.7780; AUD/NZD: 1.3010. Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here http://www.fbs.com/analytics/2012-08-22/18911-key-options-expiring-today Quote Link to comment Share on other sites More sharing options...
internationallove Posted August 22, 2012 Author Share Posted August 22, 2012 "Westpac: loonie may keep strengthening"(2012-08-22) Westpac: loonie may keep strengthening Although some experts expect USD/CAD reverse upwards, analysts at Westpac have are bullish on loonie. The specialists point out that Canadian economic data released so far is mixed: GDP increased in June, but so did the trade deficit and the July unemployment rate. Even so, the Bank of Canada has “maintained its hawkish rhetoric” and it’s “potential plus for the Canadian dollar.” In addition, Westpac thinks that CAD was draw support from investor positioning. Net long loonie positions rose at the beginning of August, but they are “still only a third of the long positions in May,” so there are plenty of investors who could pile into the currency if they see signs that loonie strength is coming. According to Westpac, if market conditions keep improving, “prospects for higher Canadian policy rates should support the loonie’s broad outperformance. Long-speculative positioning is relatively light, which should also be a positive for the currency.” Image from canada.com Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here http://www.fbs.com/analytics/2012-08-22/18913-westpac-loonie-may-keep-strengthening Quote Link to comment Share on other sites More sharing options...
internationallove Posted August 22, 2012 Author Share Posted August 22, 2012 "GBP/USD broke above $1.5800"(2012-08-22) GBP/USD broke above $1.5800 GBP/USD finally broke above the $1.5762/80 resistance area. Yesterday the pair didn’t manage to close above the $1.5800 level, but today reached $1.5816 and remains above the 50% Fib. retracement of a May decline. If today’s US data releases (FOMC meeting minutes and existing home sales) will give any hint about QE3, GBP/USD is likely to close the day above $1.5800. If not, support is seen at $1.5745 (100-day MA), $1.5730 (upper boundary of the daily Ichimoku cloud), $1.5715 (200-day MA) and at $1.5700. On a weekly chart the pair entered the Ichimoku cloud, the upper boundary lies at $1.0600. Chart. Daily GBP/USD Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here http://www.fbs.com/analytics/2012-08-22/18919-gbpusd-broke-above-15800 Quote Link to comment Share on other sites More sharing options...
internationallove Posted August 22, 2012 Author Share Posted August 22, 2012 "Commerzbank: bears on NZD/USD"(2012-08-22) Commerzbank: bears on NZD/USD According to analysts at Commerzbank, NZD/USD might have ended a minor corrective move higher at $0.8145 (August 21 maximum) and is now declining towards $0.8037 (August minimum). In their view, the uptrend channel support line, connecting June and July minimums, remains in focus. A break below would lead to $0.7808 (July minimum) and then to 0.7458 (June minimum). Resistance is seen at $0.8146 (August 21 maximum) and $0.8220 (August highs). Chart. Daily NZD/USD Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here http://www.fbs.com/analytics/2012-08-22/18922-commerzbank-bears-nzdusd Quote Link to comment Share on other sites More sharing options...
internationallove Posted August 22, 2012 Author Share Posted August 22, 2012 "TD Securities: FOMC minutes won’t say much"(2012-08-22) TD Securities: FOMC minutes won’t say much Analysts at TD Securities think that the FOMC meeting minutes won’t clarify in any way what are the Fed’s plans concerning monetary policy. “For starters, if one is looking for signals, the Fed does not rely on the minutes to signal policy shifts. That is what speeches, testimonies, and other public venues are used for." At the same time, there may be some comments about other policy tools: "After all, that is the topic of the Jackson Hole speech and was clearly the topic at the August meeting”. So, the specialists advise traders to temper expectations as the great revelation today is unlikely. Fed Chairman Ben Bernanke in command of the FOMC - centralbanking.com Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here http://www.fbs.com/analytics/2012-08-22/18924-td-securities-fomc-minutes-wont-say-much Quote Link to comment Share on other sites More sharing options...
internationallove Posted August 22, 2012 Author Share Posted August 22, 2012 "EUR/JPY: technical update"(2012-08-22) EUR/JPY: technical update EUR/JPY is rising since the end of July when it hit the minimal levels since 2000 around 94.10 yen. The pair has entered the descending daily Ichimoku Cloud for the first time since it broke below the cloud in early May. On the downside, the Cloud’s bottom will provide support for the single currency. Euro’s currently testing the 98.65 level (61.8% Fibo retracement of the decline from June 21 maximum). If EUR/JPY gets higher, it will get chance to revisit 101.60 yen. At the same time, EUR/JPY still remains within longer-term downtrend and at some point it’s likely to return to the 94.00 zone. Analysts at MIG Bank recommend looking for “signs of weakness closer to the resistance at 101.63 to initiate a short position”. We concede a correction towards 98.00 (50% Fib. retracement and the lower boundary of the Ichimoku cloud). What’s more, on the H4 chart RSI indicator is close to 70. Chart. Daily EUR/JPY Have a profitable trade with FBS! If you have any questions to our analysts, you're welcome to ask them in comments to this article! Recent market news from FBS Comment here http://www.fbs.com/analytics/2012-08-22/18926-eurjpy-technical-update Quote Link to comment Share on other sites More sharing options...
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