Forex-Metal Daily Analysis – 16/08/2011
Euro speculations amid upcoming meeting of Sarkozy and Merkel.
Category: Daily Forex Reports
Forex Metal Weekly Newsletter
Market review for 8 – 12, 2011
British Inflationary Data on Tap
Traders will witness the release of moderately significant reports on inflation at the consumer and retail level in the UK today at 9:30 GMT. Should the figures reveal stagnation in inflationary growth, we could see heftier flights...
16th August, 2011 – Daily Forex Report by GFM Research
The US Dollar Index depreciates on the event of most of the asset classes either stabilizing or posting gains, especially the equity bourses across the world; the Dow has gained for successive third session after major fall...
AUD/USD Analysis (August 16)
The pair has confirmed a strong bullish bounce over the last trading session with a rally towards a former support at 1,05.
USD/CAD Analysis (August 16)
The pair has been under pressure the most part of monday’s session with a decline towards a first support level at 0,98 corresponding to a 38% retracement of the previous rally.
USD/CHF Analysis (August 16)
In the early stage of the week, we did see the pair confirming its bullish momentum while reaching its psychological 80,00 level i.e. 200 pips above last week close.
USD/JPY Analysis (August 16)
The pair is still under pressure but continues to hold above its historical low at 76,30.
GBP/USD Analysis (August 16)
The pair continues to evolve in a long term trading range between 1,59 and 1,67 but it has confirmed a short term bullish bias after a break above 1,63 yesterday.
EUR/USD Analysis (August 16)
Monday’s price action was very interesting as we did see a break and close above the strong daily descending trendline. This breakout opens the door to next target at 1,47 (weekly bollinger band).