Euro Rallies as Details of ECB Plan Released
The euro rallied against virtually all of its main currency rivals during European trading yesterday, as details regarding the ECB’s plan to lower borrowing costs in Italy and Spain began to surface.
Category: Daily Forex Reports
EUR/USD Forecast September 6, 2012, Technical Analysis
EUR/USD pair rose during the session on Wednesday as the 1.25 level held as support again. The 1.26 level has been pierced yet again, but is still offered a bit of resistance. With the ECB statement coming...
USD/JPY Forecast September 6, 2012, Technical Analysis
USD/JPY fell during the session on Wednesday, but bounced yet again in order to form a hammer within our well defined support zone. This hammer suggest that perhaps we will get a little bit of a lift...
GBP/USD Forecast September 6, 2012, Technical Analysis
The GBP/USD pair rose during the session on Wednesday after initially falling. At the end of the session though, we gave up some of the gains in this pair as well. The 1.59 level still looks very...
AUD/USD Forecast September 6, 2012, Technical Analysis
The AUD/USD pair fell yet again during the Wednesday session as the downtrend continues. However, it should be noted that the end of the day saw a bounce and we manage to form a hammer for the...
USD/CAD Forecast September 6, 2012, Technical Analysis
The USD/CAD pair rose during the Wednesday session to break above the 0.99 handle. However, we aren’t above the 0.9950 level which of course would free the buyers to push the price of this currency pair much...
06 Sept 2012: Daily FX perspective by GFM Research
The Dollar Index is currently trading flat at the critical support of 81.00; most of the FX pairs are trading flat since the Asian session with focus shifting to the ECB interest rate decision and its policies.
Gold: possible H&S
We may have a head and shoulders pattern completing on the hourly chart at the highs. This could possibly break below the neckline at 1688 triggering a strong move lower, perhaps to around 1675 where it will...
EUR/USD: technical analysis – September 5, 2012
Eurodollar has pushed lower, breaking down though the neckline of the double top and almost reaching the profit target at 1.2475. Now it has rebounded and begun moving higher again. This is probably a counter-trend move, or...
EUR/GBP: Euro Declines on Fears the ECB Could Disappoint
Prior to the key meeting of the European Central Bank officials tomorrow to enhance efforts to deal with the debt crisis, the Euro ceded gains versus the Great British pound in the previous European trading session as...