Forex-Metal Weekly Analysis
Market review for 23 – 27.07.2012
Category: Daily Forex Reports
EUR/USD: technical analysis – July 30, 2012
The EUR/USD has climbed to the top of the channel on the 4-hour chart and formed a head and shoulders pattern. My preference is for a break below the neckline at the 1.2240 level leading to to...
Heavy Volatility Expected In the Coming Days
The euro maintained its upward trend against the US dollar on Friday, as a string of positive comments from euro-zone officials last week helped boost risk appetite in the marketplace. Precious metals and commodities were also able...
EUR/USD Forecast July 30, 2012, Technical Analysis
The EUR/USD pair rose during the session on Friday as the “risk on” rally continue to take hold. One has to wonder whether this was Euro buying, or simply short covering, as the markets gave up quite...
USD/JPY Forecast July 30, 2012, Technical Analysis
The USD/JPY pair had a string session on Friday as it both fell, and then bounced to new highs for the week. The Indian candle was relatively neutral, but did have a green body. The most important...
GBP/USD Forecast July 30, 2012, Technical Analysis
The GBP/USD pair rose during the session on Friday as the 1.57 level was targeted yet again. The area continued to hold as resistance, and as a result the pair looks like it is still trying to...
AUD/USD Forecast July 30, 2012, Technical Analysis
The AUD/USD pair rose during the session on speculation of further easing by the central banks from both Europe and the United States. The liquidity injection will more than likely drive commodity price higher, and as such...
USD/CAD Forecast July 30, 2012, Technical Analysis
The USD/CAD pair fell during the Friday session as speculation that central banks will be flooding the markets with liquidity drove up demand for commodities on the whole. This of course favors oil, which of course favors...
Anticipating This Week’s Currency Drivers
Currency markets last Friday continued to digest Thursday’s statement from ECB President Draghi, trying to glean how markets will be influenced by such changes. No doubt rumours will continue to swirl until we get confirmation of the...
AUD/USD: meeting resistance
The aussie has been rising strongly in a possible ending-diagonal, which is a bearish indication. It is currently at a resistance level and there is even stronger resistance not much higher at the 1.0475 where a nexus...