Daily forex strategy report
Short bullish trend till 130.00 for GBP / JPY
GBP / JPY: It seems as thought, an important foundation has been built out for 126.75, with the market rebounding dramatically since then. The last pressure back out of 136.40 is now being supported ahead of 130.00 and a new higher minimum would be in the process of forging out ahead of the next upward extension beyond 136.40. Just back below 130.00 would negate the bullish outlook in the short term.
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Bearish look below 1.52 for GBP / USD
GBP / USD: The recent increase in the market has been classified as a corrective, with the pair looking to build a roof over low to medium term below 1.5500. The final price behavior seems to confirm our forecast with the formation of a double top just above 1.5200 in the daily chart, after breaking back below the neckline at 1.5080 support, which now could accelerate descent to the key support of 1.4870 in the coming weeks. Lately, only a break above 1.5500 would negate the bearish outlook.
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EUR / USD continuation of the rebound – bullish trend of forex online trading from 1.26 to 1.3
EUR / USD: Search for a break and close below 1.2600 on Monday to confirm a forecast downward, while return above 1.2725 and generates invalidated reason for concern. A break below 1.2600 exposes a direct assessment of 1.2480, while back above 1.2725 warns corrective additional upside to 1.3000.
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USD / CAD – looking to buy at 1.0300 – online forex trading
USD / CAD: The last increase has stalled out in front of 1.0700 for now, pushing the market back to the 1.0300 area so far. However, our overall outlook remains broadly constructive and we see no additional delays extending well below 1.0300. In return, we recommend looking to buy at 1.0300 falls in anticipation of the next major bull spread beyond 1.0855. Lately, only a close below 1.0200 would give grounds for concern.
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Look for bearish trend – USD / JPY
USD / JPY: Despite the recent directions inconsistent operations, our overall outlook remains highly constructive, if the price continues above 87.00 on a narrow base. Look for a possible back pressure to and through 95.00, higher earnings should accelerate critical barriers to the next higher by 100.00. The break last Thursday over 88.20 confirmed based on the perspective and should now accelerate towards the next resistance at 90.00 during the next session of operation.
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Caution in trading EUR / CHF – wait forex news
Since the quote EUR / CHF broke through the 1.5000 level in late 2009, the couple has been making a series of lower highs and lower minimum.
This is a strong downward trend, but the threat of the Swiss National Bank has refrained from intervening I be looking for selling opportunities on this pair. While the central bank can not change the trend, this intervention or even the mere rumor of it can cause serious short-term volatility, unfortunately enough to keep him out of operating this listing. So even though this pair is in stronger movement than any other pair trend, operators are warned of a possible intervention when operating, or simply avoid this pair until they calm down these threats.
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British Pound and Euro in consololidation – short bearish trend
British Pound overnight balanced the decline in European operation, the exchange rate bounced back from the lowest (1.4947) to cross back above the 20 SMA at 1.4994 days, although the currency pair GBP / USD may tend to downward course towards the U.S. session as investors gradually reduce their propensity for risk.
Points to Discuss
• Japanese Yen: bounces back against most of its counterparts
• Pound: GDP expanded 0.3% in the first quarter
• Euro: The ECB said that weak banks will have to replenish capital
• U.S. Dollar: You can continue to benefit from safe haven flows
Meanwhile, the finance minister George Osborne said the inflationary budget deficit was the most “clear threat” to the UK economy according to a transcript of the CNN, and pledged to take steps to avoid a “spiral of trend down “since the new coalition aims to balance public finances and fiscal policy sharpened.
In turn, the survey by GfK showed that 58% of households in the UK expect the economy will deteriorate much more, about two-fifths of respondents are directed to cut back consumption, so continued weakness in the private sector can lead to the Bank of England support the real economy through the second half of the year, given the objective of balancing the risks of a downward trend for the region. However, the final reading of 1Q GDP revealed that economic activity expanded by 0.3%, a behavior that was broadly in line with initial forecast, while the growth rate slipped to 0.2% over the previous year to mark the most slow pace of decline since the third quarter of 2008. Meanwhile, the BoE policy meeting scheduled to launch its next Wednesday at 8:30 GMT, besides the central bank can continue to maintain a view to facilitating future policy as the economy struggles to shake off the recession, but the manager Andrew Sentace may look dissenting against the majority around a second time because the price growth remains well above the limit for inflation.
The euro extended its decline on Friday and slipped to a low of 1.2550 obeying the change in market sentiment, so that the single currency can continue propelling the high during the day as stock futures foretell that the market U.S. have a lower open. For now, the Central Bank board member Lorenzo Bini Smaghi European said “potentially weak banks will have to increase their capital following the results of the rigorous evaluation during an interview with an Italian newspaper, and went on to say that the 3% deficit limit for the 16 members in the region “must be declined” as the expected economic growth pace slowed from now on. However, the Minister of Finance of Portugal said that the rigorous evaluation will help to increase confidence in its banking system according to an article in the Portuguese newspaper also quoted the results show the resilience of banks because they have “good “solvency ratios. As the ECB is scheduled to issue the results of the rigorous assessment of the commercial banks next week, the currency pair EUR / USD can hold the tablet range last week and that the investor will influence the prognosis for future policy, but a break below the 50-day SMA at 1.2388 may lead to the exchange rate back the progress of the previous month since apparently developed a short-term bullet just above 1.2700.
The U.S. dollar recovered back against most of its currency, while the currency pair USD / JPY struck a low of 88.52 following the change in market sentiment, so the dollar can continue to appreciate over day as benefits from increased flows in safe haven. Meanwhile, Fed Chairman Ben Bernanke is scheduled to speak in Washington DC at 14:00 GMT with respect to the economy, and the comments of the central bank may lead to the spread increases volatility in the exchange rate, although the risk trends are likely to determine the price behavior toward the U.S. operation as the economic agenda remains quite subdued for the remainder of the day.
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Short EUR / JPY in bearish trend – put stop loss at 112.6
The graph on the date of quotation EUR / JPY shows a series of lower highs and lower low, which means a downtrend and a bearish bias.
This 4-hour chart shows an increase to the level of resistance, which is lower than the previous peak and investment. The confirmation of that investment would be a move on through at least 109 135, as shown in the chart. Operators can sell on a break down through support and place your protective stop above the purchase up to 112.62. The target should be cashing twice the risk attached to 1:2 risk: reward ratio.
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Forex pair EUR/CHF in corrective upwards
EUR / CHF: The market seems to have finally found an important basis for the recent historical record 1.3070 low and the risks here are some important additional corrective upwards towards 1.4000 in the coming weeks. The only daily studies so far left on sale, while weekly and monthly studies are still in this area, providing additional confirmation of a bullish outlook. Search again for a close above 1.3435 to confirm and accelerate.
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GBP/USD in consolidation – Sterling remains under pressure
Sterling remains under pressure while increasing concerns that the UK could be the next country to see their yields rise, and the deficit has outstanding credit rating under scrutiny. The elections in the United Kingdom had postponed the trial of his sovereign assessment while the markets were waiting to see the makeup of the new government and its potential agenda. The next quarterly inflation report will be the first in which the Bank of England speaks from election day. A deadlocked parliament would focus more on the central bank and its role in the future monetary and fiscal policy. Therefore, we can see the behavior of price in GBP / USD to consolidate ahead of upcoming event risk, creating an ideal environment for speculation.
Key Technical Levels
The first floor of 1.4785 March has established itself as a solid level of support despite recent volatility. Although the pair has fallen below the level has failed closing below its validity on the rise. The barrier can limit the risks of low and also provide a solid designated level. The most recent price behavior has seen a downward trend line developed, which is also providing potential for possible points in and out of operations.
Quantitative Measurements
The quote GBP / USD has seen its ATR crossed at 191 pips, as this has been influenced by issues of debt in the euro area and volatility. A prolonged bear has led to increased amplitude of the Bollinger band widened up to 918 pips, ranking among the most actively traded peers. Recent trends red flag raised to take aim at this pair and concerns bring greater volatility prolonged.
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