Forex-Metal Daily Analysis -.03/08/2012
Market review for 02.08.12: Markets were disappointed with the results of the ECB meeting.
Category: Daily Forex Reports
EUR/USD: technical analysis – August 3, 2012
Eurodollar is currently recovering after yesterday’s spike lower. It has formed an ABC correction and reached the lower boundary of the consolidation zone which will probably resist and push the pair back down again. If it breaks...
EUR/GBP: Pound Advances Despite Projected Miss in Budget Deficit Targets
Under pressure to save the Euro, the European Central Bank is gearing up to buy Italian and Spanish government bonds in the open market – but not yet. ECB President Mario Draghi said it will only act...
EUR Tumbles Following ECB Press Conference
The euro tumbled against virtually all of its main currency rivals yesterday afternoon, after the ECB refrained from announcing any new significant new measures to boost euro-zone growth. The news led to risk aversion in the marketplace,...
USD/JPY Forecast August 3, 2012, Technical Analysis
The USD/JPY pair fell during the session on Thursday as the “risk off” trade came back into play. This was predicated by the ECB and its lack of monetary policy after the meeting. However, this pair is...
USD/CAD Forecast August 3, 2012, Technical Analysis
The USD/CAD pair gained for the session on Thursday as the “risk off trade came back into play. However, we see the 1.0150 level as resistive, and also recognize the fact that we are in a down...
GBP/USD Forecast August 3, 2012, Technical Analysis
The GBP/USD pair fell drastically after initially gaining during the Thursday session. In fact, the pair had a raced roughly 75 pips ahead of the ECB meeting. Once the ECB and the Bank of England both got...
EUR/USD Forecast August 3, 2012, Technical Analysis
The EUR/USD looks absolutely horrible after the action on Thursday. We initially had a Spike all the way to 1.24 levels, only to be reversed by the end of the day to close below the 1.22 handle....
AUD/USD Forecast August 3, 2012, Technical Analysis
The AUD/USD pair spiked initially during the Thursday session, only to turn around after the ECB disappointed markets. The “risk off trade” had the Australian dollar selling off, and we have formed a shooting star for the...
AUDUSD: Greenback to Lose on ECB Hopes and Australian Consumer Spending
The US dollar is forecasted to pare yesterday’s gains from the higher-yielding Australian currency as investors appear to be intent to take on risk. With the European Central Bank planning concerted action with Euro Zone countries to...