Archive for October 2011
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The yen renewed its historical maximum against the US dollar.
Asian and European trading sessions:
Euro: Market participants are looking forward to the results of the European Union Summit, which has started today. The EUR/USD pair traded moderately during the Asian trading session in the narrow range of $1.3893 – $1.3945.
US Dollar: Greenback was under pressure today for a couple of reasons. Investors were waiting for the Durable goods orders report as well as for the numbers from the United States real estate market. Reinforced speculations over the rumours that the FRS would agree on the new stage of quantitative easing had a negative impact on the US currency as well.
Australian Dollar: Australian dollar continued to decrease for another day against most major currencies after the released slowdown in consumer prices today. Investors forecasted that the Reserve bank of Australia would decrease the interest rates.
British Pound: The early Asian trading session was more successful for the GBP/USD pair which updated its weekly maximum at $1.6040 area.
Japanese Yen: Japanese currency continued strengthening today despite of the speech of the finance minister of Japan, Mr. Azumi, who stated that the Bank of Japan would take “decisive†measures in order to stop the increase of the yen. The yen rose yesterday on stimulated demand for the save-heaven currencies and also renewed its historical maximum today against the US dollar by reaching the Y75.70 level.
American trading session:
Euro dropped against the US dollar as the negotiations regarding the write-off the Greek debts by the bonds’ holders did not have any result, which reinforced the uncertainty of the European crises situation.
British pound decreased against the greenback as well (set daily lows at $1.5889) after the released today CBI Trends total orders, which showed the most serious drop in 2 years.
Canadian dollar demonstrated its strong growth against the US dollar and the euro against the background of the released data on the US durable goods orders, since the US is the leading Canadian trade partner.
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Technical analysis for 27/10
EURUSD
The pair is testing Moving Average (200) at 1.39600. If the pair breaks this level the pair will rise to 1.40690.
Resistance: 1.39600, 1.40690, 1.41780
Support: 1.38554, 1.37486, 1.35984
GBPUSD
The pair has risen to the Moving Average (200) at 1.60322. If the pair breaks this level the pair will rise to 1.62050.
Resistance: 1.60322, 1.62050, 1.63316
Support: 1.58543, 1.56722, 1.54842
USDCHF
The pair has broken to 0.88418 and aiming to 0.87214.
Resistance: 0.88418, 0.89635, 0.91079
Support: 0.87214, 0.85939, 0.84685
USDJPY
The pair has broken 76.463 and aiming to 75.425.
Resistance: 76.463, 77.539, 78.345
Support: 75.425, 74.414, 73.377
AUDUSD
The pair has broken 1.04407 and aiming to 1.05332.
Resistance: 1.05332, 1.06164, 1.07005
Support: 1.04407, 1.03535, 1.02558
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Technical analysis for 26/10
EURUSD
The pair has returned to Fibonacci level 61% at 1.38871.
Resistance: 1.39600, 1.40690, 1.41780
Support: 1.38554, 1.37486, 1.35984
GBPUSD
The pair has risen to the Moving Average (200) at 1.60322. If the pair breaks this level the pair will rise to 1.62050.
Resistance: 1.60322, 1.62050, 1.63316
Support: 1.58543, 1.56722, 1.54842
USDCHF
The pair has broken to 0.88418 and aiming to 0.87214.
Resistance: 0.88418, 0.89635, 0.91079
Support: 0.87214, 0.85939, 0.84685
USDJPY
The pair has broken 76.463 and aiming to 75.425.
Resistance: 76.463, 77.539, 78.345
Support: 75.425, 74.414, 73.377
AUDUSD
The pair couldn’t stay above 1.04407 and rolling back to 1.03535. If 1.03535 is broken the pair will decline to 1.02558.
Resistance: 1.04407, 1.05332, 1.06164
Support: 1.03535, 1.02558, 1.01744
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The upcoming EU summit is in focus.
Asian and European trading sessions:
Euro: During both trading sessions the euro was trading in a narrow range near its six-week high against the US Dollar amid expectations of tomorrow’s summit of EU countries. The EUR/USD pair’s range was between $1.3850 and $1.3950 zone.
Investors still look forward with caution awaiting a specific plan to constrain the debt crisis in the EU.
New Zealand Dollar: The kiwi dropped today against the US Dollar when the statistics agency of New Zealand reported an increase in the Consumer Price Index in Q3 by 0.4% compared with the previous quarter. This growth was below the average forecast of 11 economists, according to which the index should rise by 0.7%.
Japanese Yen: The USD/JPY pair traded in the range of Y76,02 – Y76,29 during the Asian session. Against the backdrop of decreasing EU Stock markets the pair fell steeply to its daily low of Y75.73 level.
American trading session:
US Dollar: The reasons for the US Dollar decrease during the American trading session were the statistics which had been published before the US Stock market opening. Consumer confidence index in October dropped from 45.4 points to 39.8, when it was expected to increase to 46 points; In addition, the S&P/Case-Shiller index of housing prices decreased over the 20 US metropolitan regions.
Canadian dollar: After the Bank of Canada reported that the economy of Canada would grow slower than expected, and kept the interest rate unchanged at 1%, the Canadian dollar fell for the first time in four days against the U.S. dollar.
Gold: Gold strengthened today and closed the day above the $1708 area.
Oil: WTI continued raising and set new highs at $94.57 and closed at $92.50 per barrel.
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