Market Analysis

07/18/2014 - 14:25
By Elizaveta Belugina EUR/USD slid below last week’s low at $1.3575 and declined to the levels just above $1. 3500 where one can find support line of 2012-2013. Negative background for the single currency was created by concerns about Portugal, decline in the euro zone’s industrial production and lower-than-expected ZEW economic sentiment indices for Germany and the euro area. In America economic data were also far from very encouraging, but there were no painful contractions, only some...
07/18/2014 - 14:20
Kira Iukhtenko, FBS USD/JPY spent the week in the 101.80/101.00 narrow range. As we see from the weekly chart, the pair found support at the 55-week MA. Note that the weekly bullish Ichimoku is not acting as a support anymore – the price spent the week in a “cloudy” area. Daily Ichimoku indicator is also giving out bearish signals. 10-year US Treasury yields hit a 1.5 month low this week, increasing bearish pressure on USD/JPY. Japanese yen remains supported by the increased risk aversion as...
07/18/2014 - 14:15
Kira Iukhtenko, FBS GBP/USD spent the week in a sideways $1.7190/7060 range, forming a long-legged bearish candle on the weekly chart. Cable rushed to $1.7190, supported by strong UK inflation data. June CPI came at 1.9%, approaching the BOE 2% target and increasing the expectations of a sooner rate hike. However, buying interest was cooled down by Marc Carney and by the mixed bag of UK employment data. Unemployment declined to 6.5%, claimant count fell, but the average wage growth remains...
07/18/2014 - 14:04
By Elizaveta Belugina AUD/USD had an intense week swinging up and down between $0.9400 and $0.9330. On the one hand, risk sentiment has deteriorated by the end of the week due to various global political tensions. On the other hand, economic data from China and Australia were rather good and Australian dollar has done better during the past week versus the greenback than other major currencies. Levels in the $0.9330/20 area provide good support for Aussie. Australian dollar has the advantage of...
07/17/2014 - 15:04
By FX BAZOOKA analytical team Main events to watch on July 18 (Friday): JPY: Monetary Policy Meeting Minutes (23:50 GMT) EUR: Current Account (09:00 GMT) CAD: CPI (12:30 GMT) USD: Prelim UoM Consumer Sentiment (13:55 GMT)   Trade ideas EUR/USD was supported on Thursday above $1.3520. If this level gives way, bears will test 2013-2014 support line in the $1.3505 area. A close below June’s low at $1.3503 is needed for a more pronounced decline. As the pair’s oversold at H4, there may be...
07/15/2014 - 18:01
By FX BAZOOKA analytical team Important data for tomorrow: AUD: Chinese GDP & Industrial Production (02:00 GMT) GBP: Claimant Count Change, Unemployment Rate (08:30 GMT) CAD: Manufacturing Sales (12:30 GMT), BOC Meeting (14:00 GMT), BOC Press Conference (15:15 GMT) USD: PPI (12:30 GMT), Fed Yellen’s testimony (14:00 GMT) Trade ideas EUR/USD will be driven primarily by the news from America. On Tuesday trading has become more volatile. The pair was winging up and down on lower-than-...
07/14/2014 - 14:14
By FX BAZOOKA analytical team The economic calendar for tomorrow is full with events that will have an impact on Forex majors: USD: Retail Sales (12:30 GMT), Fed Chair Yellen Testifies (14:00 GMT) EUR: ECB Draghi speaks (17:00 GMT on Monday, July 14), German ZEW Economic Sentiment (09:00 GMT) GBP: CPI (08:30 GMT), BoE Carney’s Speech (09:00 GMT) JPY: BOJ’s Meeting (tentative) AUD: RBA’s Monetary Policy Meeting Minutes & New Motor Vehicle Sales (01:30 GMT) NZD: CPI (22:45 GMT) Trade...
07/14/2014 - 08:00
Tatyana Norkina, FBS The currency pair consolidates within the 1.3590-1.3610 horizontal channel after a drop on last Thursday. Short-term bullish attempts to recover didn't give any results. The pair has finally stayed in the negative zone. Ichimoku. On the H4 chart Tenkan and Kijun formed a dead cross, clearly reflecting the short-term berish sentiment. The Cloud is narrow, what confirms the bullish weakness. What's more, Chinkou Span lies below the price.  The picture on the hourly chart is...

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