Market Analysis

05/09/2011 - 12:26
Many analysts believe that US currency will get a lot of positive momentum when the Fed’s quantitative easing ands in June. It’s more difficult to foresee, however, how long dollar will enjoy the support. Westpac has been selling the greenback versus riskier currencies and took some profits last week on the Dollar Index. The bank’s analysts note that Treasury yields are still very low that keeps USD under negative pressure. The specialists believe that the market will be extremely nervous when...
05/09/2011 - 11:08
Technical analysts at Commerzbank note that on Friday the pair EUR/USD has broken through the key support in the 1.4450/34 area. In their view, euro may fall to the November 2010 maximum at 1.4283 and April 18 minimum at 1.4145. On the upside, the specialists see the resistance for the single currency at 1.4572. Chart. H4 EUR/USD As for the pair GBP/USD, pound fell from 1-year maximum at 1.6750 getting down below support at 1.6430. The strategists think that sterling is now poised for a...
05/09/2011 - 10:45
The single currency lost 3.45% versus the greenback during the final 2 days of last week, though even after this slump euro remained 2011 best performer (up 9.7% since January 12 when German Chancellor Angela Merkel pledged to do everything to support the currency). The pair EUR/USD hit $1.4315 on May 6 after reaching the strongest since December 2009 at $1.4940 on May 4. Euro dropped as the ECB signaled that it isn’t in a hurry to raise the rates and Der Spiegel magazine claimed that Greece...
05/09/2011 - 09:12
Weekly USD/CHF On the weekly chart the bulls managed to get a little higher, but all in all the state of things remained the same. All lines of the Indicator are declining at rather sharp angle (1, 2, 3 and 4) that means that the downtrend is still strong. The bearish Ichimoku Cloud remains wide. Chart. Weekly USD/CHF Daily USD/CHF On the daily chart there are some signs that bulls’ position slightly improved: the Standard line went horizontally (2), while the prices managed to close last...
05/09/2011 - 09:10
Weekly USD/JPY The pair USD/JPY kept declining. The prices broke down through the Standard line losing substantial support – the bearish sigh (1). In addition, Senkou Span B went down, while the Chinkou Span has come close to the price chart (2) from the upside. One should also not forget about the wide negative Ichimoku Cloud pressuring the pair (3) that means that the bears’ position remains strong. It’s necessary to note that the lines Tenkan-sen and Kijun-sen keep moving horizontally merged...
05/09/2011 - 09:07
Weekly GBP/USD During the past week the pound’s rate decreased. The uptrend on the weekly GBP/USD chart turned to neutral. All lines of the Indicator are horizontal (1, 2, 3 and 4). At the same time the prices reached the Turning line that will act as a support. Taking into account the fact that the “golden cross” made by Tenkan and Kijun (5) formed above Kumo is still in place, it’s possible to assume that the bulls may once again turn the situation to their advantage. Chart. Weekly GBP/USD...
05/02/2011 - 10:12
Weekly USD/CHF On the weekly chart everything is in favor of bears. All lines of the indicator are falling (1, 2, 3 and 4) at rather sharp angle that means that the downtrend is still strong. The bearish Cloud is still wide. Chart. Weekly USD/CHF Daily USD/CHF On the daily chart all the lines are also declining (1, 2, 3 and 4). Tenkan-sen, the Turning line, and the Standard line Kijun-sen still hold the “dead cross” in place – the powerful bearish signal as it’s formed below the Cloud. Note...
05/02/2011 - 10:09
Weekly USD/JPY Last week the pair’s decline continued. The prices approached the Standard line that may provide support for the pair. All lines of the Indicator go sideways that points at the flat. It’s necessary to note that Tenkan-sen and Kijun-sen have merged together (1) in the horizontal state that means that the horizontal move is very powerful. The prices will likely move sideways between the Standard line and the Ichimoku Cloud (2). Chart Weekly USD/JPY Daily USD/JPY As it was...

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