The EUR came under selling pressure against the greenback on Monday after the UK Daily Telegraph reported on its website that Germany’s top industrial group has warned that Germany’s credit crunch is deepening. The dollar also drew some support after Russia’s Finance Minister said the nation has full confidence in the U.S. currency. His remarks came ahead of the first summit of leaders of Russia, China, India and Brazil on Tuesday, at which the leaders are expected to discuss issues including foreign reserve diversification. Last week marked an extremely volatile trading session for the dollar, especially against the EUR and the Yen, enabling traders to make profits from going both long and short against the greenback. However, against the GBP and the CHF the USD dropped significantly. It seems that mixed results from the leading economic indicators that were published last week have contributed to the volatility of the dollar. The most positive publication for the USD was the U.S Retail Sales index, which showed that the total value of sales at the retail level has increased in May for the first time in 3 months. However, the U.S Trade Balance continued to show negative balance between imported and exported goods and services, and during April, it even failed to reach expectations showing a significantly lower figure of -29.2B. Another disturbing publication was the Federal Budget Balance report which showed that during May the U.S. government’s spending was 189.7B higher than its income. This information proofs once again that it indeed might be premature to assume that the worse oof the economic crisis is already behind. As for the week ahead, many interesting publications will provide the traders vast opportunities to increase their equities. First of all, today at 13:00 GMT, the TIC Long-Term Purchases report will be released, and is forecasted to deliver the best result in 7 months, what should strengthen the dollar. Also this week, the monthly Building Permits and the weekly Unemployment Claims will be announced, while forex traders are advised to follow these reports as they’re expected to have a large impact on the USD.
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USD Gains A Head of This Trading Week
June 15 2009, 1:07pm | Comments »
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Forex Technical Analysis for 06/15—06/19 Week
EUR/USD trend: sell. GBP/USD trend: sell. USD/JPY trend: sell. EUR/JPY trend: sell.
Floor Pivot Points
Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
EUR/USD 1.3447 1.3625 1.3820 1.3999 1.4194 1.4373 1.4568
GBP/USD 1.5133 1.5467 1.5954 1.6288 1.6776 1.7109 1.7597
USD/JPY 95.61 96.35 97.38 98.12 99.15 99.89 100.92
EUR/JPY 133.66 134.67 136.30 137.31 138.94 139.95 141.57
Woodie’s Pivot Points
Pair 2nd Sup 1st Sup Pivot 1st Res 2nd Res
EUR/USD 1.3629 1.3829 1.4003 1.4202 1.4377
GBP/USD 1.5505 1.6032 1.6326 1.6853 1.7148
USD/JPY 96.42 97.53 98.19 99.30 99.96
EUR/JPY 134.82 136.60 137.46 139.24 140.10
Camarilla Pivot Points
Pair 4th Sup 3rd Sup 2nd Sup 1st Sup 1st Res 2nd Res 3rd Res 4th Res
EUR/USD 1.3810 1.3913 1.3947 1.3981 1.4050 1.4084 1.4118 1.4221
GBP/USD 1.5990 1.6216 1.6292 1.6367 1.6517 1.6593 1.6668 1.6894
USD/JPY 97.44 97.93 98.09 98.25 98.58 98.74 98.90 99.39
EUR/JPY 136.47 137.20 137.44 137.68 138.16 138.40 138.65 139.37
Tom DeMark’s Pivot Points
Pair EUR/USD GBP/USD USD/JPY EUR/JPY
Resistance 1.4283 1.6942 99.52 139.44
Support 1.3910 1.6121 97.75 136.80
Fibonacci Retracement Levels
Pairs EUR/USD GBP/USD USD/JPY EUR/JPY
100.0% 1.4177 1.6621 98.85 138.32
61.8% 1.4035 1.6308 98.17 137.32
50.0% 1.3990 1.6211 97.97 137.00
38.2% 1.3946 1.6114 97.76 136.69
23.6% 1.3892 1.5994 97.50 136.31
0.0% 1.3804 1.5800 97.08 135.69
Posted on Forex blog.
- Tags:
- Forex
- Week
- 06/15—06/19
June 15 2009, 10:44am | Comments »
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Cable hurt by M&A;this week, could be supported next week
If Barclays goes through with its BGI sale to Blackrock, GBP 6 bln could flow into the UK…
June 7 2009, 2:00am | Comments »
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Forex Technical Analysis for 06/08—06/12 Week
EUR/USD trend: sell. GBP/USD trend: hold. USD/JPY trend: hold. EUR/JPY trend: sell.
Floor Pivot Points
Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
EUR/USD 1.3414 1.3673 1.3820 1.4079 1.4226 1.4485 1.4633
GBP/USD 1.5003 1.5471 1.5725 1.6194 1.6448 1.6916 1.7171
USD/JPY 91.33 92.89 95.77 97.32 100.21 101.76 104.64
EUR/JPY 129.38 131.63 134.71 136.96 140.04 142.29 145.37
Woodie’s Pivot Points
Pair 2nd Sup 1st Sup Pivot 1st Res 2nd Res
EUR/USD 1.3645 1.3765 1.4051 1.4171 1.4457
GBP/USD 1.5417 1.5619 1.6140 1.6341 1.6863
USD/JPY 93.22 96.43 97.66 100.87 102.09
EUR/JPY 131.84 135.12 137.17 140.45 142.50
Camarilla Pivot Points
Pair 4th Sup 3rd Sup 2nd Sup 1st Sup 1st Res 2nd Res 3rd Res 4th Res
EUR/USD 1.3744 1.3856 1.3893 1.3930 1.4005 1.4042 1.4079 1.4191
GBP/USD 1.5582 1.5781 1.5847 1.5914 1.6046 1.6113 1.6179 1.6378
USD/JPY 96.21 97.43 97.84 98.24 99.06 99.46 99.87 101.09
EUR/JPY 134.86 136.32 136.81 137.30 138.28 138.77 139.25 140.72
Fibonacci Retracement Levels
Pairs EUR/USD GBP/USD USD/JPY EUR/JPY
100.0% 1.4338 1.6662 98.88 139.21
61.8% 1.4183 1.6386 97.19 137.17
50.0% 1.4135 1.6300 96.66 136.55
38.2% 1.4087 1.6215 96.14 135.92
23.6% 1.4027 1.6109 95.49 135.14
0.0% 1.3932 1.5939 94.44 133.88
(...)Read the rest of Forex Technical Analysis for 06/08—06/12 Week (16 words) Posted on Forex blog.
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June 6 2009, 9:22am | Comments »
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Forex Technical Analysis for 06/01—06/05 Week
EUR/USD trend: buy. GBP/USD trend: buy. USD/JPY trend: hold. EUR/JPY trend: buy.
Floor Pivot Points
Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res
EUR/USD 1.3533 1.3663 1.3909 1.4039 1.4285 1.4415 1.4661
GBP/USD 1.5487 1.5631 1.5909 1.6054 1.6332 1.6476 1.6754
USD/JPY 91.27 92.84 94.08 95.66 96.90 98.48 99.72
EUR/JPY 128.17 129.82 132.38 134.03 136.59 138.24 140.80
Woodie’s Pivot Points
Pair 2nd Sup 1st Sup Pivot 1st Res 2nd Res
EUR/USD 1.3692 1.3968 1.4068 1.4344 1.4444
GBP/USD 1.5665 1.5976 1.6087 1.6398 1.6510
USD/JPY 92.76 93.92 95.58 96.74 98.39
EUR/JPY 130.04 132.83 134.25 137.04 138.47
Camarilla Pivot Points
Pair 4th Sup 3rd Sup 2nd Sup 1st Sup 1st Res 2nd Res 3rd Res 4th Res
EUR/USD 1.3949 1.4053 1.4087 1.4122 1.4190 1.4225 1.4259 1.4363
GBP/USD 1.5955 1.6071 1.6109 1.6148 1.6226 1.6264 1.6303 1.6419
USD/JPY 93.78 94.55 94.81 95.07 95.59 95.84 96.10 96.88
EUR/JPY 132.62 133.78 134.17 134.55 135.33 135.71 136.10 137.26
Tom DeMark’s Pivot Points
Pair EUR/USD GBP/USD USD/JPY EUR/JPY
Resistance 1.4350 1.6404 97.69 137.41
Support 1.3974 1.5982 94.87 133.20
Fibonacci Retracement Levels
Pairs EUR/USD GBP/USD USD/JPY EUR/JPY
100.0% 1.4168 1.6199 97.23 135.68
61.8% 1.4024 1.6037 96.16 134.07
50.0% 1.3980 1.5987 95.82 133.57
38.2% 1.3936 1.5938 95.49 133.07
23.6% 1.3881 1.5876 95.08 132.46
0.0% 1.3792 1.5776 94.42 131.46
(...)Read the rest of Forex Technical Analysis for 06/01—06/05 Week (16 words) Posted on Forex blog.
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May 30 2009, 8:30pm | Comments »
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