Forex-Metal Daily Analysis -19/07/2012
Market review for 18.07.12: The Bank of England decided to keep its interest rate at a low record level of 0.5 %. Asian and European trading sessions:
Category:
EUR/USD: downside possible
The EUR/USD pair has risen and reached resistance from the top of a major down-sloping channel. It has formed a bearish shooting star on the hourly and it could roll-over and fall to support from the trend-line...
EURGBP Falls on Merkel’s Comments
The previous European trading session saw the decline of the Euro against the British pound as German Chancellor Angela Merkel’s comments shook the financial markets. In the UK, the unemployment rate in May dropped to 8.1 percent,...
Euro Zone Faces More Uncertainties
Spain continues to be hit by the debt crisis as it faces yet another challenge to its financial system. Bad loans held by Spanish banks rose to an 18-year high in May, triggering concern that the costs...
Euro Tumbles during Afternoon Trading
The euro fell against virtually all of its main currency rivals during the European session yesterday, after pessimistic comments from German Chancellor Merkel led to risk aversion in the marketplace. Turning to today, several potentially significant US...
EUR/USD Forecast July 19, 2012, Technical Analysis
The EUR/USD pair fell during the session on Wednesday, to form another negative candle in an already oversold condition. However, the candle did get a bounce later in the day to form a third hammer.
USD/JPY Forecast July 19, 2012, Technical Analysis
The USD/JPY pair fell during the session on Wednesday to retest the 78.75 support level that it visited the previous two sessions. The market looks relatively weak, but the fact is the Bank of Japan is underneath...
GBP/USD Forecast July 19, 2012, Technical Analysis
The GBP/USD pair fell over the course of the Wednesday session, only to turn around and bounce to form the third daily hammer in a row. Triple hammers are a very rare occurrence in the Forex markets,...
USD/CAD Forecast July 19, 2012, Technical Analysis
The USD/CAD pair fell during the session on Wednesday to form a shooting star sitting on top of the 1.01 support level. The pair looks like it is closing the oil markets, and as those markets look...
AUD/USD Forecast July 19, 2012, Technical Analysis
The AUD/USD pair managed to bust through the 1.0350 level during the session on Wednesday, signaling a fresh new leg up. This suggests that the Aussie dollar will continue to rise until about the 1.05 level, and...