Market Analysis

06/07/2011 - 15:06
Analysts at UBS think that although the bears tried yesterday to bring the greenback below 80.00 versus Japanese yen, the pair USD/JPY will be able to hold above the key psychological support level and recover to 90.00 during the next 3 months. Currency strategists at MIG bank are also looking for US dollar’s rebound. The economists are bullish on the pair in the medium and long term expecting to see the new bullish cycle. In their view, if the greenback closes above 82.00 (post G7 intervention...
06/07/2011 - 14:19
Economists at Goldman Sachs think that the single currency is strongly overvalued as it’s trading in the $1.4650 area versus the greenback. In their view, the fair rate for EUR/USD is situated at $1.20 regardless the risk premium that euro’s rate should include due to the euro area’s debt crisis. The analysts note the current dynamics of the pair is partly due to the weakness of US dollar. Chart. Daily EUR/USD
06/06/2011 - 09:10
Weekly USD/CHF On the weekly USD/CHF chart one can see a clear downtrend. The bearish Cloud remains rather wide. All lines of the Indicator are directed sideways (1, 2, 3, 4 and 5). Tenkan-sen and Kijun-sen and Senkou Span A and B have lined up. Chart Weekly USD/CHF Daily USD/CHF On the daily chart the outlook according to the Indicator is also bearish: the descending Cloud (3), the “dead cross” (2), the falling lines (1). The only hope of the bulls is the support of the downtrend line....
06/06/2011 - 09:08
Weekly USD/JPY The prices fell below the Standard line. Resistance now will be provided by both Tenkan-sen and Kijun-sen. In addition, yen is still under pressure of the bearish Ichimoku Cloud that, however, tends to narrow gradually. At the same time, there’s the “inverted hammer” formed on the weekly candle chart that leaves space for some rebound of the rate. Chart. Weekly USD/JPY Daily USD/JPY From the first view on the daily USD/JPY chart the outlook seems more pessimistic: all the lines...
06/06/2011 - 09:06
Weekly GBP/USD As it was expected, GBP/USD market’s consolidating. During the last week the prices once again returned to the Turning line (1) that acted as a support. The “golden cross” formed by Tenkan and Kijun above Kumo is still in place (3). The increasing Ichimoku Cloud remains rather wide (4) that means that the bulls are still rather strong. The Standard line remains horizontal (2) that points to a flat. The prices may push off from Tenkan-sen (1) and move higher. The next support...
06/03/2011 - 13:22
Currency strategists at RBC Capital Markets note that while trading euro it’s very important to choose right time frame. According to RBC, if the agreement on Greece’s bail out is reached the concerns about the restructuring of the nation’s debt in the short-term will be eliminated and the pair EUR/USD may bounce by 300 pips. As a result, there will be a buying opportunity for short-term investors. However, many analysts regard some kind of debt restructuring for Greece as inevitable claiming...
06/03/2011 - 10:14
Technical analysts at UBS claim that the outlook for British pound versus the greenback is positive. In their view, the pair GBP/USD is poised up to resistance in the 1.6418 area. If sterling manages to rise above these levels, it will get chance to advance to 1.6495. According to the bank, key support for the pair is situated at 1.6302 – while pound’s trading higher UBS stick to the optimistic view on UK currency.   Chart. Daily GBP/USD
06/03/2011 - 09:52
Currency strategists at Westpac think that New Zealand’s dollar may renew maximal levels versus the greenback in the next few weeks. The pair NZD/USD hit post-float high of 0.8262 on May 31. The specialists note that New Zealand’s strong economic data keeps showing that the nation’s economy’s recovering. In their view, the only possible negative factor for kiwi in the near term may be a negative shock to global risk appetite caused by the problems in other regions of the world. According to the...

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