Posts Tagged “Outlook”
Recent economic reports have cast doubts about the strength and durability of the recovery. Many concerns center on disappointing reports from the nation View full post on Long Term Forecasts
Weekly Review and Outlook: Euro Found a Bottom, Risk Aversion to Ease Temporarily
By admin | May 22, 2010
There were two important developments to note last week. Firstly, selling climax in Euro was past, with help of intervention. EUR/USD spiked through 2008 low of 1.2329 and reached as low as 1.2143 after German’s announcement of ban on naked short selling. But the common currency then staged a broad based rebound as SNB buying [...]
GBP/JPY dropped to as low as 126.73 last week before turning sideway. The break of 130.00 confirmed that fall fro 145.94 has resumed. Hence, while some sideway trading might be seen this week initially, we’d expect upside to be limited by 132.78 resistance and bring fall resumption. Below 126.73 will target 118.18 low next. Nevertheless, [...]
The euro managed to overcome the 1.2430/50 resistance yesterday and rallied to as high as 1.2671 earlier today, but it is pulling back below 1.2620 which is the 50% retracement of last down leg from 1.3095 to 1.2145. Upside is slightly favored for now as support might be formed around 1.2500 then lower, where the [...]
USD/CAD jumps sharply to as high as 1.0672 so at today and at this point, intraday bias remains on the upside for 1.0734 resistance first. Break there will revive the case that 0.9929 is already the medium term bottom and will put focus on 1.0779 key resistance confirmation. On the downside, though, below 1.0438 support [...]
EUR/CHF jumped to as high as 1.4307 on SNB intervention before turning sideway. At this point, intraday bias remains on the upside as long as 1.4216 minor support holds and further rally is in favor to 1.4333 resistance and above. However, note that we’d continue to anticipate strong resistance between 1.4333/4465 to limit upside. On [...]
EUR/GBP’s break of 0.8618 resistance suggests that rise from 0.8444 is resuming and stronger rally would be seen towards 0.8806 resistance. However, note that break of 0.8806 is still needed to indicate that the cross has bottomed. Otherwise, risk of another fall remains. Below 0.8493 minor support will flip intraday bias back to the downside [...]
EUR/CHF jumped sharply to as high as 1.4204 on SNB intervention. The break of 1.4116 resistance flips intraday bias back to the upside and further rise might be seen towards 1.4433 resistance next. Nevertheless, we’d anticipate strong resistance between 1.4333/4465 to limit upside. On the downside, break of 1.4 psychological level is needed to confirm [...]
AUD/USD drops further to as low as 0.8394 today and met mentioned target of 100% projection of 0.9324 to 0.8715 from 0.9077 at 0.8486. At this point, intraday bias remains on the downside and further decline should be seen to next key level of 0.8262 medium term resistance turned support. On the upside, 0.8591 minor [...]