GBP/USD Forecast May 7, 2012, Technical Analysis
The GBP/USD pair fell on Friday as the jobs number out of America got the market in a risk off mode. The pair is broken out to the upside of a massive consolidation range though, and we...
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AUD/USD Forecast May 7, 2012, Technical Analysis
The AUD/USD pair fell hard for the Friday session as the “risk off” mode took over again. The pair broken through the 1.02 level, and we feel that the bearish flag we suspected as being formed is...
USD/CAD Forecast May 7, 2012, Technical Analysis
The USD/CAD pair had a very bullish session on Friday as the oil markets fell hard. The Canadian dollar almost always travels with the oil markets over time, so many traders would have jumped out of their...
USDCAD Analysis – May 5, 2012
USDCAD has formed a cycle bottom at 0.9799 on daily chart. Further rally to test 1.0051 key resistance would likely be seen next week, a break above this level will indicate that the downtrend from 1.0523 has...
USDCHF Analysis – May 5, 2012
USDCHF stays in a narrow range between 0.8931 and 0.9333. Another rise to test 0.9333 resistance would likely be seen next week, a break above this level could trigger another rise towards 1.0000. Support is at 0.8931,...
USDJPY Analysis – May 5, 2012
No changed in our view, USDJPY remains in downtrend from 84.17. Resistance is at the upper line of the price channel on daily chart, as long as the trend line resistance holds, the downtrend could be expected...
AUDUSD Analysis – May 5, 2012
AUDUSD breaks below 1.0225 previous low support, suggesting that a cycle top has been formed at 1.0474 on daily chart, and the downtrend from 1.0855 has resumed. Further decline could be expected in a couple of weeks,...
GBPUSD Analysis – May 5, 2012
GBPUSD may be forming a cycle top at 1.6301 on daily chart. Pullback to test the support of the uptrend line would likely be seen next week, a clear break below the trend line support will indicate...
EURUSD Analysis – May 5, 2012
EURUSD traded sideways in a range between 1.2975 and 1.3486 for several weeks. Another fall to re-test 1.2975 key support would likely be seen next week, a breakdown below this level could trigger another fall towards 1.2500....
ECB Press Conference Helps Euro Recover
After falling throughout the morning session, the euro was able to stage a partial recovery during afternoon trading yesterday, following comments from ECB President Draghi who reiterated his earlier predictions of euro-zone economic growth during the second...