5th July, 2011 – Daily Forex Report by GFM Research
The Dollar Index (DXU11) traded flat also trading was sluggish yesterday evening on the event of U.S Independence Day.
Category: Daily Forex Reports
Full Volume & Potentially Fast
Full volume will return to the Forex and Commodity markets today. Trading was thin on Monday because of the Independence Day holiday in the States. Ranges were limited for most of the day and as of this...
AUD/USD Technical Analysis for July 5, 2011
The AUD/USD fell in Asian trading on Monday as building approval and retail sales announcements disappointed the market. The truth is that the Aussie is still in a massive uptrend, and we won’t sell it. We are...
EUR/USD Technical Analysis for July 5, 2011
EUR/USD fell on Monday, but bounced from the 1.45 level to form a continuation hammer. This shows that the market is quite comfortable owning this pair at 1.45, and if that is true – higher prices are...
GBP/USD Technical Analysis for July 5, 2011
The GBP/USD rose, but ended the Monday session forming a shooting star just under the vital 1.61 area. This could be a sign that we are going to attempt a breakdown of the 1.59 area again. That...
USD/CAD Technical Analysis for July 5, 2011
USD/CAD rose on Monday, bouncing slightly as the holiday in America crushed most of the volume. The pair broke through major support at the end of last week, and this sets us up for shorting this pair...
USD/CHF Technical Analysis for July 5, 2011
The USD/CHF pair rose on Monday, only to fall after piercing the 0.85 level. The pair has been bearish for ages, and this is the top of a recent consolidation range between 0.85 and 0.83. As such,...
USD/JPY Technical Analysis for July 5, 2011
The USD/JPY fell on light volume during the Monday session, but managed to bounce back up. Because of the conflicting bearish and bullish candlesticks we are getting recently, we advise to stay out of this pair at...
AUD/USD analysis (July 05 2011)
Despite the recent strong move upward, the AUD/USD is still evolving in a trading range and it is now carving out some kind of top ahead of 1,08 which need to be confirmed though.
USD/CAD analysis (July 05 2011)
The pair is back under pressure after its break below its rising trendline. Next target is given at 0,95 (weekly bollinger band) with an extension towards multi-year low at 0,9450.