China’s Economic Slowdown
The slowdown of the Chinese economy was confirmed by the release of the GDP figures earlier this month, showing a growth rate of only 7.6 percent in the second quarter of this year, the slowest pace in...
Category: Daily Forex Reports
Spain Worries Send EUR to Fresh Lows
Renewed concerns regarding the debt situation in Spain sent the euro plunging to fresh lows against several of its main currency rivals, including the US and Australian dollars and the Japanese yen on Friday.
EUR/USD forecast July 23, 2012, Technical Analysis
EUR/USD pair fell during the Friday session, to test the recent lows at the 1.2150 level. This bearish candle smashed through three hammers and a doji in one sudden move. This suggests to us that the bearish...
USD/JPY forecast July 23, 2012, Technical Analysis
The USD/JPY pair fell during the session on Friday as the markets sold off risk in general. The pair looks very weak, but we have to keep in mind that the Bank of Japan is sitting below,...
GBP/USD forecast July 23, 2012, Technical Analysis
The GBP/USD pair fell hard on Friday, as the “risk off” trade came rushing back into the markets. The change in attitude saw the Dollar reign during the day, and as such we are not willing to...
AUD/USD forecast July 23, 2012, Technical Analysis
The AUD/USD pair fell on Friday as the “risk off” trade came roaring back. The Aussie should continue to fall in the short term, but the 1.03 level below looks very supportive. It is because of this...
USD/CAD forecast July 23, 2012, Technical Analysis
The USD/ CAD pair rose during the session on Friday, to retest the previous support area for resistance. So far, it has held. This is certainly a reaction to the “risk off” attitude of the markets, and...
AUD/USD: technical analysis – July 20, 2012
The aussie has been rising, although it has slowed down after reaching close to the underside of a major multi-year trend-line which would be expected to exert downward pressure. It has also pulled back 61.8% of the...
EUR/USD: triangle completing
The EUR/USD has consolidated in a sideways triangle pattern. It looks almost complete as it narrows into the apex. A break below the 1.2228 level would signal a continuation down, probably to 1.2160 where the weekly pivot...
Risk Taking Benefits Higher Yielding Assets
Higher yielding assets like the Australian dollar saw significant gains during the European session yesterday after several positive global indicators led to risk taking in the marketplace. In addition, the ongoing tensions between Iran and the West...