EUR Takes Losses Following German Data
The euro took losses against several of its main currency rivals yesterday, after worse than expected economic data out of Germany led to risk aversion in the marketplace.
Category: Daily Forex Reports
EUR/USD Forecast August 9, 2012, Technical Analysis
The EUR/USD pair fell during the session on Wednesday but bounced enough to form a hammer. The 1.23 level looks as if it’s acting as support currently, and as such we think that a break down below...
USD/JPY Forecast August 9, 2012, Technical Analysis
The USD/JPY pair had a relatively bearish session on Wednesday as it fell to the 78.20 level, but managed to bounce after that in order to form a hammer. This market still looks supported by the 78...
GBP/USD Forecast August 9, 2012, Technical Analysis
GBP/USD rose during the session on Wednesday in an attempt to break above the shooting star from the Tuesday session. Considering that there was little news to move the markets overall, it should be said that this...
AUD/USD Forecast August 9, 2012, Technical Analysis
The AUD/USD pair managed to bounce during the Wednesday session, even with an employment number coming out this morning. Normally markets will be risk averse in these situations, but the belief that the Federal Reserve is about...
USD/CAD Forecast August 9, 2012, Technical Analysis
USD/CAD fell during the session on Wednesday as the parity level has all but given up at this point. The move continues to extend itself, and we’re now well below the bottom of the downtrend channel suggesting...
EUR/GBP: Euro Zone Plagued with Problems
Weak German and French economic fundamentals caused the decline of the Euro versus the British pound in the European trading exchanges yesterday. Industrial production in Germany fell in June, while France’s trade deficit widened in the same...
Forex-Metal Daily Analysis -08/08/2012
Technical analysis for 8.08
Euro Remains Bullish amid Hopes for ECB Action
The euro remained bullish for most of the European session yesterday, as investor hopes that the European Central Bank will soon step in to lower borrowing costs in Italy and Spain helped boost risk appetite.
EUR/USD Forecast August 8, 2012, Technical Analysis
The EUR/USD pair tried to rally during the session on Tuesday, but only formed a shooting star suggesting that the buyers simply aren’t stepping in at this point in time. This makes sense, the European Union has...