internationallove Posted July 5, 2011 Author Share Posted July 5, 2011 "UBS: EUR/CHF depends on the demand for the greenback"(2011-07-05) Currency strategists at UBS claim that the recent upward correction of the single currency versus Swiss franc may be explained by the improved investors' sentiment about Greece's future after the nation’s parliament approved austerity measures last week and the euro zone’s finance ministers agreed to provide the country with the fifths tranche of financing. Never the less, the specialists think that uncertainly concerning the situation in the euro area will persist capping the attempts of the pair EUR/CHF to strengthen. It’s necessary to note that the pair is driven more by the market’s confidence in the greenback which will be influenced by the upcoming earnings season. The specialists say that euro will be able to break its medium-term downtrend versus franc only if financial results of US companies are encouraging enough. In such case confidence in the greenback will increase triggering capital reallocations out of Switzerland. According to UBS, such outcome is unlikely unless domestic conditions improve more considerably and the Fed becomes more hawkish, so the bank remains bearish on EUR/CHF. As a result, the analysts recommend selling euro on the current maximums. Chart. Daily EUR/CHF Comment here http://www.fbs.com/analytics/news_markets/view/7853 Quote Link to comment Share on other sites More sharing options...
internationallove Posted July 6, 2011 Author Share Posted July 6, 2011 "US Non-Farm Payrolls forecasts"(2011-07-06) Economists surveyed by Bloomberg News believe that US Non-Farm Payrolls increased in June by 100,000 after gaining 54,000 in May that was the minimal rise in 8 months. Such advance, however, won’t be enough to reduce the unemployment rate that is expected to remain at 9.1%. In order to achieve sustainable decline in the joblessness rate, payrolls have to climb by roughly 200,000 a month. The monthly average in the first quarter was only at 166,000. In June the pace of the payrolls growth is likely to be slower than that as the companies tend to limit costs trying to hold their ground in the time of general economic weakness – last month Ben Bernanke called US economic recovery “frustratingly slow”. The Federal Reserve’s Chairman says that the central bank projects that the unemployment rate will continue declining but at a very low pace. The situation on the labor market has been during the last few years far from optimistic – since Barak Obama became president in January 2009 unemployment has increased by almost a percentage point, while the economy has lost 2.5 million jobs. Comment here http://www.fbs.com/analytics/news_markets/view/7856 Quote Link to comment Share on other sites More sharing options...
internationallove Posted July 6, 2011 Author Share Posted July 6, 2011 "BNP Paribas bets on euro’s advance in 2011"(2011-07-06) Analysts at BNP Paribas note that different monetary policy approaches of the Federal Reserve and the European Central Bank are widening the yield spread between the US and the euro area in favor of the latter. As a result, the single currency is strengthening versus the greenback despite the European debt issues. The specialists believe that the pair EUR/USD that is currently trading above $1.40 may get higher as the EU authorities will hopefully agree to help Greece out of the crisis and the Fed and the ECB keep conducting divergent policies. Then, in 2012, when US central bank is thought to begin monetary tightening, euro may weaken. However, according to the bank, it’s necessary to note that the European currency is not as strong as one may judge from the exchange rate. In real effective terms, euro is in line with its long-term average. It would be more accurate to talk of the dollar being weak than the euro being strong as the greenback’s real effective exchange rate is indeed well below its long-term average. BNP Paribas expects to see EUR/USD in the $1.4500 area during the third quarter. Then the pair will rise to $1.4800 by the end of the year. Bank’s forecasts for the next year are at $1.4500 for the second quarter, $1.4000 – for the third and $1.3500 – for the fourth. Chart. Daily EUR/USD Comment here http://www.fbs.com/analytics/news_markets/view/7858 Quote Link to comment Share on other sites More sharing options...
internationallove Posted July 6, 2011 Author Share Posted July 6, 2011 "Commerzbank: comments on USD/CHF"(2011-07-06) The greenback’s advance versus Swiss franc from the record minimum at 0.8274 hit on June 30 was capped by 0.8525 close to the key resistance 0.8555 (minimum of the beginning of May and May 31 maximum) above which the bearish pressure on the pair would ease. Technical analysts at Commerzbank believe that US currency manage to recover to 0.8593/.8630 (Fibonacci retracement level, 55-day MA) and 0.8850 (38.2% retracement of the 2011 decline). Chart. H4 USD/CHF Comment here http://www.fbs.com/analytics/news_markets/view/7860 Quote Link to comment Share on other sites More sharing options...
internationallove Posted July 6, 2011 Author Share Posted July 6, 2011 "J.P.Morgan: trading advices concerning ECB meeting"(2011-07-06) The market is sure that the European Central Bank will raise its benchmark rate on Thursday, July 7. It’s also pretty clear that the Bank of England will keep the borrowing costs unchanged at its meeting on the same day. The surprises are unlikely. Never the less, analysts at J.P. Morgan think that it’s still possible to trade on this event. In their view, it’s necessary to concentrate attention on the tone of the central banks’ statements. The specialists expect the ECB President Jean-Claude Trichet to sound hawkish, while the Bank of England is likely to remain dovish. The natural conclusion from such assumption is the recommendation to buy EUR/GBP. J.P. Morgan advises to open longs at 0.8960 stopping below 0.8870 and targeting 0.9200. Chart. H4 EUR/GBP Comment here http://www.fbs.com/analytics/news_markets/view/7862 Quote Link to comment Share on other sites More sharing options...
internationallove Posted July 6, 2011 Author Share Posted July 6, 2011 "UBS: EUR/CHF depends on the demand for the greenback"(2011-07-06) Currency strategists at UBS claim that the recent upward correction of the single currency versus Swiss franc may be explained by the improved investors' sentiment about Greece's future after the nation’s parliament approved austerity measures last week and the euro zone’s finance ministers agreed to provide the country with the fifths tranche of financing. Never the less, the specialists think that uncertainly concerning the situation in the euro area will persist capping the attempts of the pair EUR/CHF to strengthen. It’s necessary to note that the pair is driven more by the market’s confidence in the greenback which will be influenced by the upcoming earnings season. The specialists say that euro will be able to break its medium-term downtrend versus franc only if financial results of US companies are encouraging enough. In such case confidence in the greenback will increase triggering capital reallocations out of Switzerland. According to UBS, such outcome is unlikely unless domestic conditions improve more considerably and the Fed becomes more hawkish, so the bank remains bearish on EUR/CHF. As a result, the analysts recommend selling euro on the current maximums. Chart. Daily EUR/CHF Comment here http://www.fbs.com/analytics/news_markets/view/7853 Quote Link to comment Share on other sites More sharing options...
internationallove Posted July 6, 2011 Author Share Posted July 6, 2011 "EUR/USD dropped after Portugal's downgrade"(2011-07-06) Moody’s Investors Service reduced today Portugal’s long-term government bond ratings from Baa1 to Ba2. As the reason of the downgrade the specialists cited the growing risk that Portugal will require a second bailout before it can return to the private market. Strategists at Bank of New York Mellon claim that uncertainty is currently higher than long time before. The specialists expect trading to be volatile. In their view, it’s impossible to project now at what level euro’s rate will be in a year as the prospects of the euro zone’s surviving the crisis remain dim. Portuguese 10-year government bond yield bounced to the record maximum of 12.30%. Irish, Italian, Spanish and Greek yields also climbed on the fears of further ratings cuts. Analysts at Royal Bank of Scotland are surprised that the news about Portugal’s downgrade provoked such big decline of the single currency versus the greenback. The bank thinks that the downgrades of other peripheral nations’ debt will inevitably come. Strategists at Societe Generale give several reasons of such strong sell-off. Firstly, the market was long on EUR/USD. Secondly, the bond markets drove the pair by correlation. Thirdly, the greenback is seen as a better safe haven than Swiss franc in short-term perspective (though not in the longer term taking into account US debt ceiling negotiations). The pair EUR/USD fell on the negative news from $0.4466 to $1.4325. Analysts at Commerzbank claim that if euro gets below $1.4325, it will be poised down to support at $1.4140 and then to the 200-week MA at $1.4021. График. H4 EUR/USD Comment here http://www.fbs.com/analytics/news_markets/view/7866 Quote Link to comment Share on other sites More sharing options...
internationallove Posted July 6, 2011 Author Share Posted July 6, 2011 "Barclays Capital cut forecasts for GBP versus USD and EUR"(2011-07-06) Analysts at Barclays Capital, world's second-largest currency-dealing bank after Deutsche Bank, changed their outlook for British pound versus the greenback to bearish. The specialists now think that GBP/USD will trade in a year at $1.60, while earlier they expected to see the pair in July 2012 at $1.76. One-month forecasts were decreased from $1.66 to $1.59, 3-month – from $1.72 to $1.58, 6-month – from $1.74 to $1.59. The forecast for EUR/GBP was raised from 0.82 to 0.90. Euro will rise to 0.93 in a month and to 0.95 in 3 months. The projections for sterling were moved down after the bank lowered the estimate of UK economic growth in the second half of 2011 and pushed its expectations of Bank of England rate hike from November 2011 to May 2012. Chart. Daily GBP/USD Comment here http://www.fbs.com/analytics/news_markets/view/7868 Quote Link to comment Share on other sites More sharing options...
internationallove Posted July 6, 2011 Author Share Posted July 6, 2011 "BoA Merrill Lynch: PBOC raised rates"(2011-07-06) The People’s Bank of China raised today benchmark deposit and lending rates by 25 basis points and to 3.5% and 6.56% respectively. This is the third increase since the beginning of 2011. Analysts at Bank of America Merrill Lynch don’t think that the PBOC will lift up the borrowing costs until the next year. In 2012 the specialists expect 2 hikes of 25 basis points each. The bank believes that Chinese monetary authorities decided to tighten policy projecting inflation spike in June. According to Bank of America, real deposit rates in China remain negative as in May China’s CPI added 5.5% showing the fastest pace of increase since July 2008. As the bank savings of Chinese residents are steadily eroded by inflation they invest their money into the real estate driving up housing prices and fuelling concerns about a nationwide property bubble. The nation may still need to use proactive fiscal policies to offset some of the negative impact of the latest rate move. Such move of China’s central bank is likely to raise concerns that monetary tightening will trigger a slowdown in the world’s second-biggest economy. Comment here http://www.fbs.com/analytics/news_markets/view/7869 Quote Link to comment Share on other sites More sharing options...
internationallove Posted July 7, 2011 Author Share Posted July 7, 2011 "Citigroup advises to sell EUR/CAD"(2011-07-07) The market is short on Canadian dollar. The reasons of such negative sentiment about loonie may be various: investors may be worried about US economic weakness that may affect Canada’s economy or about Canadian growth itself. Euro’s story is different. The bullish players look forward to more ECB rate hikes in 2011. However, the euro zone’s problems are still unsolved: there’s high pressure from the rating agencies that are issuing warnings about Greece and Portugal. In addition, many economists think that the recent agreement on Greece did nothing but put off more drastic measures needed to overcome the crisis. Analysts at Citigroup think that the euro area’s issues are likely to intensify, while there may be some unexpectedly positive data from Canada, for example, from US employment report that is released on Friday. In such case Canadian currency will benefit not only from its ties to the United States, but also from the improved risk sentiment. According to Citigroup, it’s necessary to sell EUR/CAD at 1.3850 stopping at 1.4160 and targeting 1.3050. The strategists advise to hold position for about 2 months. Comment here http://www.fbs.com/analytics/news_markets/view/7871 Quote Link to comment Share on other sites More sharing options...
internationallove Posted July 7, 2011 Author Share Posted July 7, 2011 "Commerzbank: EUR/USD on its way down to $1.3900(2011-07-07) The single currency slumped yesterday versus the greenback breaking below the support provided by the Ichimoku Cloud. Technical analysts at Commerzbank claim that the pair EUR/USD is now poised down to support line at $1.4145 and then to the 200-week MA at $1.4021, the recent minimum at $1.3968 and finally to the 200-day MA at $1.3900. According to the bank, strong resistance for euro is found at Wednesday's maximum in the 1.4465 area. Chart. Daily EUR/USD Comment here http://www.fbs.com/analytics/news_markets/view/7874 Quote Link to comment Share on other sites More sharing options...
internationallove Posted July 7, 2011 Author Share Posted July 7, 2011 "UBS: US dollar still remains the world’s main reserve currency for now"(2011-07-07) Analysts at UBS believe that although many of the largest market participants such as Asian central banks tend to diversify their assets from holding US dollars, the greenback will for some time more remain the major reserve currency. According to the COFER (Composition of Foreign Exchange Reserves) report released by the IMF, in the first quarter of 2011 reserves denominated in US dollars decreased by 0.8%, while the holdings in euro trimmed by 5.1%. The single currency was sold probably because of the concerns about the situation in the peripheral euro zone nations, while dollar got under pressure due to the fears about the extension of quantitative easing. UBS underlines that other currencies such as commodity ones tend to attract increasing demand as the reserve ones. As for the longer term, US currency risks to lose its status. The bank asked the participants of its annual reserve management seminar what would be the most important reserve currency in 25 years. The majority of respondents think it will be not one, but a portfolio of currencies, 5% of the interviewed said it would be euro, while less than 30% think that dollar will manage to keep the lead. The bank notes that if the reserve managers add fiscal performance on the list of criteria for investment selection that currently includes yields and liquidity, emerging markets’ currencies will be able to compete with the ones of advanced nations. Comment here http://www.fbs.com/analytics/news_markets/view/7876 Quote Link to comment Share on other sites More sharing options...
internationallove Posted July 8, 2011 Author Share Posted July 8, 2011 "ANZ: EUR/USD may fall to $1.3903"(2011-07-08) Analysts at ANZ Banking Group claim that if the single currency falls versus the greenback getting below the 100-day MA at $1.4273, it may slump firstly, to June 16 minimum at $1.4074 and then to $1.3903 (50% Fibonacci retracement of this year’s advance from $1.2867 to $1.4940) that is the 3 1/2-month minimum. The specialists claim that the euro has formed consolidation pattern since May 23 to July 4 between the uptrend line connecting the minimums of May 23, June 16 and June 27 and the downtrend line linking the maximums of June 7 and July 4. In their view, the pair EUR/USD currently risks to survive another decline of the similar magnitude as at the beginning of May. Yesterday the European currency hit the lowest level since June 27 at $1.4220 before returning to the levels above $1.4300. Chart. Daily EUR/USD Comment here http://www.fbs.com/analytics/news_markets/view/7887 Quote Link to comment Share on other sites More sharing options...
internationallove Posted July 8, 2011 Author Share Posted July 8, 2011 "BNP Paribas: USD/JPY up head of NFP report"(2011-07-08) There are, finally, some improvements on the USD/JPY chart. Japanese yen’s declining versus the greenback as the market looks forward to optimistic figures of US Non-Farm Payrolls report. Economists surveyed by Bloomberg News think that NFP rose by 105,000 in June after adding 54,000 in May. The unemployment rate is expected to remain at 9.1%. Analysts at BNP Paribas note that the greenback may benefit from NFP data released today at 12:30 GMT if the number of jobs added in June shows either a massive upside surprise or a big disappointment for the market. Otherwise it’s going to be neutral to positive for risk. The pair USD/JPY went up from last week minimums at 80.25 breaking yesterday above resistance in the 81.00/15 area. The next resistance levels are situated at the 100-day MA of 81.60 and the 200-day MA at 82.09. Support levels are found in the 81.10/00 and 80.80/77 zones. Chart. Daily USD/JPY Comment here http://www.fbs.com/analytics/news_markets/view/7889 Quote Link to comment Share on other sites More sharing options...
internationallove Posted July 8, 2011 Author Share Posted July 8, 2011 "NAB: buy Aussie on the dips"(2011-07-08) Analysts at National Australia Bank claim that if Australian dollar falls back to the $1.0400 region trading versus its US counterpart, investors should use it as possibility to buy Aussie. The specialists are optimistic about the world’s economic outlook. In their view, the soft patch in growth will be over by September. In their view, China will go through soft landing, Greece will go further somehow and there will be no recession in the United States – that will secure the ground for Australia's commodity prices supporting Aussie. Chart. Daily AUD/USD Comment here http://www.fbs.com/analytics/news_markets/view/7891 Quote Link to comment Share on other sites More sharing options...
internationallove Posted July 8, 2011 Author Share Posted July 8, 2011 "BBH: euro may be able to strengthen to the recent maximums"(2011-07-08) Analysts at Brown Brothers Harriman note that the single currency hit yesterday support at $1.4220 and managed to return above 1.4300 due to the hawkish comments of the European Central Bank. The specialists claim that the pair EUR/USD may go up reaching the recent maximums in the $1.4550 zone. In their view, the ECB will likely continue tightening its monetary policy this year, while the EU financial support rules out the possibility of an un-orderly default in Greece. Never the less, the bank isn’t so sure about further growth of euro. The economists underline that the European currency will still find itself under pressure of the euro zone’s debt crisis. For the pair could reach 2011 maximum in the $1.50 area, it has to break above $1.4550 on the sustainable basis. In any case trading is going to remain volatile affected by the risks associated with peripheral European nations. Chart. Daily EUR/USD Comment here http://www.fbs.com/analytics/news_markets/view/7893 Quote Link to comment Share on other sites More sharing options...
internationallove Posted July 8, 2011 Author Share Posted July 8, 2011 "Commerzbank: comments on USD/CHF"(2011-07-08) The greenback went up versus Swiss franc from Wednesday’s minimum at 0.8365 to the 5-month downtrend resistance line at 0.8495. Technical analysts at Commerzbank claim that the bearish pressure on the pair USD/CHF will ease if manages to close above 0.8554 (May 4 minimum and May 31 maximum). In this case US dollar will be poised up to 0.8593/8630 (Fibonacci level and the 55-day MA). Chart. H4 USD/CHF Comment here http://www.fbs.com/analytics/news_markets/view/7895 Quote Link to comment Share on other sites More sharing options...
internationallove Posted July 8, 2011 Author Share Posted July 8, 2011 "Commerzbank: EUR/USD prospects after NFP"(2011-07-08) Analysts at Commerzbank think that the greenback won’t be able to gain versus the single currency on the Non-Farm Payrolls data. The specialists think that even if the data goes in line with the forecasts, US dollar won’t be able to keep moving up. The bank claims that the market talks about 130,000-140,000. If US economy gets less than 100,000 jobs, investors will get disappointed, especially in the unemployment rate increases. As the specialists are looking forward to a discouraging result, the pair EUR/USD, in their view, has all chanced to find support. The European currency returned today below $1.4300. Support levels are situated at $1.4220 (July 7 minimum), $1.4155 (uptrend support from May minimums) and $1.4100 (July 26 minimum). Resistance is situated at $1.4365/75 (50-day MA), $1.4395 (July 5 minimum) and $1.4465 (July 6 maximum). Chart. H4 EUR/USD Comment here http://www.fbs.com/analytics/news_markets/view/7897 Quote Link to comment Share on other sites More sharing options...
internationallove Posted July 8, 2011 Author Share Posted July 8, 2011 "Reuters poll: experts’ forecasts on GBP/USD"(2011-07-08) According to monthly poll conducted by Reuters among 60 banks and analysts, British pound that has declined versus the greenback from $1.6800 to $1.5900 in the second quarter will remain at these levels for some time. The respondents think that the pair GBP/USD will trade in the $1.6100 region during the next half of a year. The median forecast shows that sterling will start slowly strengthening only in 2012. The surveyed expects see pound reaching $1.6300 and then pulling back down to $1.6200 by the middle of the next year. Chart. Daily GBP/USD Comment here http://www.fbs.com/analytics/news_markets/view/7899 Quote Link to comment Share on other sites More sharing options...
internationallove Posted July 8, 2011 Author Share Posted July 8, 2011 "MIG Bank, Commerzbank: bullish view on USD/JPY"(2011-07-08) Technical analysts at MIG Bank claim that as the greenback has overcome resistance at 81.30 trading versus Japanese yen, it’s moving up to 82.25. In their view, the pair USD/JPY will face some resistance at 81.80/85. Specialists at Commerzbank also note that US dollar has managed to break above the daily Ichimoku Cloud at 81.31. According to them, above this level American currency will be poised up to the 55-day MA at 81.62 and then to the 200-day MA at 82.10. If dollar climbs above the latter, it will go higher to the downtrend line from 2007 to 2011 at 83.13. The bank sees support levels at 80.40 and 80.00. Economists at Citigroup think that strong US Non-Farm Payrolls data will push USD/JPY to the levels in the 82.00 area. Chart. H4 USD/JPY Comment here http://www.fbs.com/analytics/news_markets/view/7901 Quote Link to comment Share on other sites More sharing options...
internationallove Posted July 8, 2011 Author Share Posted July 8, 2011 "JPMorgan recommends buying EUR/GBP on the dips"(2011-07-08) Currency strategists at JPMorgan keep advising investors to buy the single currency versus the British pound on the dips because of the economic differences between the UK and core euro zone nations. According to the bank, the pair EUR/GBP will find support at 0.8905 and then return up to the levels above 0.9020. The specialists think that that euro will ultimately break above 2011 maximum of 0.9080 set on July 1. Chart. H4 EUR/GBP Comment here http://www.fbs.com/analytics/news_markets/view/7904 Quote Link to comment Share on other sites More sharing options...
internationallove Posted July 11, 2011 Author Share Posted July 11, 2011 "Ichimoku. Weekly forecast. GBP/USD"(2011-07-11) Weekly GBP/USD Last week the trade was volatile – the bulls and the bears were fighting for domination at the market, so there was a small candle with long upper and lower shadows formed on the weekly chart. The bears turned out to be a bit stronger, so pound didn’t manage to overcome resistance provided by the Standard line. Tenkan-sen and Kijun-sen have approached each other preparing to make a “dead cross” (1). Never the less, this signal won’t de strong as the figure will be formed above the bullish Ichimoku Cloud. The prices will get support from the lower border of the uptrend channel and still ascending Kumo (3). In addition, the already mentioned Standard line is moving up that means that the longer term uptrend tends to continue. Chart. Weekly GBP/USD Daily GBP/USD On the daily chart the situation is still more pessimistic. On the upside the prices face resistance from the Turning line (1), the Standard line (2) and the descending Ichimoku Cloud that has widened during the recent weeks that means the bears are leading at the market. Tenkan-sen (1) and Kijun-sen (2) still hold in place the “dead cross” formed below the Ichimoku Cloud – the bearish signal. At the same time, the longer term trend (Kijun) remains neutral, while Tenkan and Senkou Span A which characterize short-term price moves are deviating upward. Taking into account the outlook on the weekly chart we don’t disregard the possibility of the pair’s attempt to rise to the resistance line connecting May and June maximums. Chart. Daily GBP/USD Comment here http://www.fbs.com/analytics/news_markets/view/7909 Quote Link to comment Share on other sites More sharing options...
internationallove Posted July 11, 2011 Author Share Posted July 11, 2011 "Ichimoku. Weekly forecast. USD/JPY"(2011-07-11) Weekly USD/JPY On the weekly chat Tenkan-sen has managed to recoil a bit from the longer term Kijun-sen that remains horizontal since the beginning of April (1) – the bulls have managed to prevent the “dead cross”. In addition, there was an “inverted hammer” candle formed last week – the bullish signal. Moreover, the descending Ichimoku Cloud is narrowing – Senkou Span B goes down (2), while Senkou Span A is flat. The bulls will likely manage to move higher this week. Chart. Weekly USD/JPY Daily USD/JPY On the daily chart tankan0sen (1) and Kijun-sen (2), as it was expected, formed the “golden cross”. Despite the rate’s decline on Friday, the Standard line (2) acted as support helping the pair go up at the beginning of this week. The Ichimoku Cloud has narrowed almost to the limit – the lines Senkou Span A and B have come close to each other. As a result, the bulls have now the chance to win the leadership. To achieve this they have to overcome 2 obstacles – the Turning line (1) and Senkou Span A. Chart. Daily USD/JPY Comment here http://www.fbs.com/analytics/news_markets/view/7910 Quote Link to comment Share on other sites More sharing options...
internationallove Posted July 11, 2011 Author Share Posted July 11, 2011 "Ichimoku. Weekly forecast. USD/CHF"(2011-07-11) Weekly USD/CHF On the weekly chart the pair USD/CHF kept consolidating between 0.8275 and 0.8550. The Turning line (1) and the Standard line (2) are still providing resistance for the prices. All lines of the Indicator are horizontal (1, 2, 3 and 4). Chart. Weekly USD/CHF Daily USD/CHF On the daily chart the lines Tenkan-sen and Kijun-sen are preparing to form the “golden cross” (1). The Standard line and the lines limiting the Ichimoku Cloud (2) are directed sideways, while the short-term Turning line is deviating up. This week the bulls are likely to move up to the levels in the 0.8440/0.8500. Chart. Daily USD/CHF Comment here http://www.fbs.com/analytics/news_markets/view/7911 Quote Link to comment Share on other sites More sharing options...
internationallove Posted July 11, 2011 Author Share Posted July 11, 2011 "Commerzbank: bearish view on EUR/USD"(2011-07-11) The single currency went down from last week’s maximums versus the greenback in the $1.4575 getting below the uptrend support line at $1.4156. Technical analysts at Commerzbank believe that the pair EUR/USD is now poised down to 200-week MA $1.4024, the recent minimum at $1.3968 and the 200-day MA at $1.3907. According to the bank, on the upside the pair will be limited by resistance at $1.4400 and $1.4538/80. Chart. H4 EUR/USD Comment here http://www.fbs.com/analytics/news_markets/view/7919 Quote Link to comment Share on other sites More sharing options...
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