Forex Bulletin

tag:blogger.com,1999:blog-4667918269308270638Thu, 29 Aug 2024 06:48:19 +0000ArticlesForexetoroDollarEURUSDTradingUs-DollerreviewsEuroFallsForecastForecastsGainsUSDJPYWeeklyAssetsBelowCommentaryCorrelatedDespiteDowngradesEuropeEuropeanExpectedFreshGBPUSDGermanGlobalHigherIndexIndicatorsLeadingLoonieMarketMarketsNewsPricesReboundStallsStillTechnicalVibrationsdeclinedrops0409201204162012050720121000010Month12060125001267412680150155157304015YearAUDJPYAdvanceAfterAgainstAheadAnalysisAprilBanksBeggingBetterBottomBotttomBriefBrokersCanadianCanadian-DollerChartClaimsCommentsConsolidateContinueCorrectionCrossesDailyFXDecisionDeterioratesDisappointingDominateDoubleEURCADEURCHFEURJPYEURNOKEconomicEquityEurozoneFebruaryFitchFlashFocusGBPGreeceHealthHeavyHorizonIncreasedJapanese-YenJoblessLatestLevelLookingMaintainMalaysiaManufacturingMessageMixedMonitorMoodysMostlyObjectiveOfferedOutpacesOverallOversoldPanicPausesPerformancePhillyPlummetedPolicyProblemsProducerRalliesRallyReachReachesReadingsReleaseReliefRemainsResearchResilientRetailReverseRinggitSalesScalpScandisSendingSessionSetupSharplyBreakdownShiftSightsSignsSlowdownSoarsSpanishStevensStocksStrengthensSurveysTechnoFundamentalTowardTradeTrendUSDScandiUnemploymentUnexpectedlyUninspiredWarnsWeaknessWindsorWrongZealandaboveagainaroundextendgroundneedsopenbookoscillatingpotentialracesrangeretracementsidewayssteadiesstrengthtowardsForex BulletinForex news and Forex tutorials...http://forex-bulletin.blogspot.com/noreply@blogger.com (Anonymous)Blogger80125tag:blogger.com,1999:blog-4667918269308270638.post-7512722781212043902Thu, 31 May 2012 11:18:00 +00002012-05-31T12:18:00.181+01:0004092012ForecastForexTradingWeeklyForex Trading Weekly Forecast - 04.09.2012 <P>Don’t have an FXCM Account?</P><P>Or</P><P>Don’t have an FXCM Account?</P><P>Or</P>Follow Us <P>By David Rodriguez, Quantitative Strategist ; John Kicklighter, Sr. Currency Strategist ; Ilya Spivak, Currency Strategist ; Michael Boutros, Currency Strategist ; David Song, Currency Analyst and Christopher Vecchio, Currency Analyst </EM>09 April 2012 02:41 GMT <IMG class=by-block-img src="C:\Program Files (x86)\ABS\Auto Blog Samurai\data\Forex Bulletin\DailyFX Forecasts\blank.gif" width=3 height=16> <IMG class=gsstx alt="Forex_Trading_Weekly_Forecast_-_04.09.2012_body_Chart_2.png, Forex Trading Weekly Forecast - 04.09.2012" src="nanovik.byethost31.com/blog_images//ForexTradingWeeklyForecast-04092012bodyChart2.png"> <P>DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.<BR>Learn forex trading with a free practice account and trading charts from FXCM.</P>09 April 2012 02:41 GMT <IMG class=by-block-img src="C:\Program Files (x86)\ABS\Auto Blog Samurai\data\Forex Bulletin\DailyFX Forecasts\blank.gif" width=3 height=16> <P></P><BR> // SET PAGE PROPERTIES var sProperties = new Object(); sProperties.server = '2.6'; sProperties.channel = 'Fundamental: Weekly Title'; // Pass page properties to Omniture if (typeof sProperties != 'undefined') { for (var sProperty in sProperties) { s[sProperty] = sProperties[sProperty]; } } var s_code=s.t(); if(s_code) document.write(s_code);<br /><p><a href="http://www.dailyfx.com/forex/fundamental/forecast/weekly/title/2012/04/07/Forex_Trading_Weekly_Forecast_-_04.09.2012.html" target="_blank" rel="nofollow">View the original article here</a></p>http://forex-bulletin.blogspot.com/2012/05/forex-trading-weekly-forecast-04092012.htmlnoreply@blogger.com (Unknown)1tag:blogger.com,1999:blog-4667918269308270638.post-3357934428647309476Thu, 31 May 2012 06:39:00 +00002012-05-31T07:39:00.563+01:0004162012ForecastForexTradingWeeklyForex Trading Weekly Forecast - 04.16.2012 <BODY readability="19"><IMG class=gsstx alt="Forex_Trading_Weekly_Forecast_-_04.16.2012_body_Chart_6.png, Forex Trading Weekly Forecast - 04.16.2012" src="nanovik.byethost31.com/blog_images//ForexTradingWeeklyForecast-04162012bodyChart6.png"> <P>DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.<BR>Learn forex trading with a free practice account and trading charts from FXCM.</P><br /><p><a href="http://www.dailyfx.com/forex/fundamental/forecast/weekly/title/2012/04/14/Forex_Trading_Weekly_Forecast_-_04.16.2012.html" target="_blank" rel="nofollow">View the original article here</a></p>http://forex-bulletin.blogspot.com/2012/05/forex-trading-weekly-forecast-04162012.htmlnoreply@blogger.com (Unknown)1tag:blogger.com,1999:blog-4667918269308270638.post-3195649568411085097Thu, 31 May 2012 01:59:00 +00002012-05-31T02:59:00.479+01:00ForexGainsMaintainTradingEuro Can’t Maintain Gains in Forex Trading <P><IMG class="alignleft size-full" alt="One euro coin" src="nanovik.byethost31.com/blog_images//one-euro-coin.jpg" width=229 height=228>Earlier, the euro showed signs of fight as it headed higher against the US dollar. Now, though, the euro can’t maintain gains in Forex trading and is headed lower. Worries about the eurozone, and what’s next for the currency region, are causing doubt, and uncertainty means that Forex traders are looking for safety — and safety can’t be found in the euro right now.</P><P>After seeing some earlier gains and breaking back up through the 1.2600 level against the US dollar, euro is once again lower. The 17-nation currency has been unable to hold onto gains briefly enjoyed in the wake of positive economic data out of the United States. Now that optimism is gone, and traders are left with concerns about what’s next for the eurozone.</P><P>Investors are so seeking safety that they just bought 4.6 billion euros’ worth of German bonds — at 0 per cent. The fact that investors are so uncertain about the eurozone that they are willing to simply preserve capital, rather than seek returns, is rather telling. It doesn’t bode well for the eurozone. Germany remains opposed to the idea of eurobonds, and, even though EU leaders are trying to keep Greece in the currency union, there are doubts about the feasibility of that outcome.</P><P>At 14:17 GMT EUR/USD is down to 1.2581 from the open at 1.2582. EUR/GBP is down to 0.8014 from the open at 0.8019. EUR/JPY is down to 99.9215 from the open at 100.0245.</P><P>If you have any questions, comments or opinions regarding the Euro, feel free to post them using the commentary form below.</P><br /><p><a href="http://www.topforexnews.com/2012/05/24/euro-cant-maintain-gains-in-forex-trading/" target="_blank" rel="nofollow">View the original article here</a></p>http://forex-bulletin.blogspot.com/2012/05/euro-cant-maintain-gains-in-forex.htmlnoreply@blogger.com (Unknown)0tag:blogger.com,1999:blog-4667918269308270638.post-8727085988550128165Wed, 30 May 2012 22:26:00 +00002012-05-30T23:26:00.317+01:00AssetsBeggingBottomCorrelatedReliefRisk Correlated Assets Begging for Relief But No Real Sign of Bottom Yet <P>Don’t have an FXCM Account?</P><P>Or</P><P>Don’t have an FXCM Account?</P><P>Or</P>Follow Us <P>By Joel Kruger, Technical Strategist </EM>18 May 2012 09:35 GMT <IMG class=by-block-img src="C:\Program Files (x86)\ABS\Auto Blog Samurai\data\Forex Bulletin\DailyFX Articles\blank.gif" width=3 height=16> Panic, fear and uncertainty take hold of markets Euro looking to establish below 2012 lows from January Yen starts to find renewed bids on flight to safety status Eurozone political turmoil fuels intensified risk off trade Rating agency downgrades and Greek political developments weigh German producer prices above expectations The risk liquidation continues into Friday, and markets to this point have shown no real interest in any form of a bounce. The US Dollar and Yen have been the prime beneficiaries on their flight to safety status, while the Swiss Franc is still not participating given the aggressive SNB intervention measures. We wonder how much it is costing the SNB to keep the EUR/CHF cross propped above 1.2000, especially in these intense risk-off markets. At this point, the Euro should accelerate to test the yearly lows from January by 1.2625, although any additional declines from there would be hard to comprehend in light of the severely oversold daily technical studies. </P>Relative performance versus the USD Friday (as of 9:30GMT) </P>CAD +0.13% </P>GBP +0.01% </P>JPY -0.06% </P>EUR -0.09% </P>CHF -0.11% </P>AUD -0.48% </P>NZD -0.76% </P>Elsewhere, US equities are now testing some key support levels, while gold has finally found some bids ahead of $1500. It certainly isn’t common to see so many analysts bearish on the Euro and risk in general. We have seen even the most aggressive Euro bulls retract their positions, and these include some larger banks, hedge funds and even central banks. </P>Moving on, Moody’s downgrade of 16 Spanish banks, along with Spanish yields rising back above 6% has not helped matters, while comments from Greek SYRIZA leader Tsipras that his party will not join the any pro-bailout coalition only weighs further on risk sentiment. European leadership needs to step up and offer a solution; otherwise, we could see additional risk liquidation over the coming hours. It is more than likely that the burden will fall on the European Central Bank, and the introduction of a Eurobond or additional bond buying could offer some relief. Other tools at the ECB’s disposal include the LTRO and the ability to cut rates, both of which would also likely be viewed as a risk positive. One thing is for sure, the G8 Summit kicks off today and we should expect nothing from this front in terms of any helpful solutions. </P>ECONOMIC CALENDAR </P><IMG class=gsstx alt="Risk_Correlated_Assets_Begging_for_Relief_But_No_Real_Sign_of_Bottom_Yet__body_Picture_5.png, Risk Correlated Assets Begging for Relief But No Real Sign of Bottom Yet " src="nanovik.byethost31.com/blog_images//RiskCorrelatedAssetsBeggingforReliefButNoRealSignofBottomYetbodyPicture5.png"> TECHNICAL OUTLOOK </P><IMG class=gsstx alt="Risk_Correlated_Assets_Begging_for_Relief_But_No_Real_Sign_of_Bottom_Yet__body_eur.png, Risk Correlated Assets Begging for Relief But No Real Sign of Bottom Yet " src="nanovik.byethost31.com/blog_images//RiskCorrelatedAssetsBeggingforReliefButNoRealSignofBottomYetbodyeur.png"> EUR/USD:The market remains under intense pressure and the focus for now is squarely on a retest of the 2012 lows from January at 1.2625. While we would not rule out a possibility of a test of this level over the coming sessions, short-term technical studies are well oversold and are showing a need for some form of a corrective bounce from where a fresh lower top is sought out. Ultimately however, any rallies should now be very well capped by previous support turned resistance at 1.3000 in favor of additional weakness over the medium-term that projects deeper setbacks into the lower 1.2000's. </P><IMG class=gsstx alt="Risk_Correlated_Assets_Begging_for_Relief_But_No_Real_Sign_of_Bottom_Yet__body_usd.png, Risk Correlated Assets Begging for Relief But No Real Sign of Bottom Yet " src="nanovik.byethost31.com/blog_images//RiskCorrelatedAssetsBeggingforReliefButNoRealSignofBottomYetbodyusd.png"> USD/JPY:The market continues to consolidate around 80.00 and is in the process of looking for a medium-term higher low ahead of the next major upside extension back above the yearly highs at 84.20 and towards 90.00 further up. However, for the time being it remains in question whether the market will still head lower towards the 200-Day SMA by 78.50 before ultimately reversing higher. The key level to watch above comes in by 80.60, and a break and close above this level will officially alleviate downside pressures and suggest that a higher low has now been carved in the 79.00's. </P><IMG class=gsstx alt="Risk_Correlated_Assets_Begging_for_Relief_But_No_Real_Sign_of_Bottom_Yet__body_gbp.png, Risk Correlated Assets Begging for Relief But No Real Sign of Bottom Yet " src="nanovik.byethost31.com/blog_images//RiskCorrelatedAssetsBeggingforReliefButNoRealSignofBottomYetbodygbp.png"> GBP/USD:The market remains under intense pressure since breaking back below 1.6000 and setbacks could now extend towards next key support in he 1.5600 area over the coming sessions. Still, daily studies are now stretched and we would prefer looking to sell into rallies towards 1.5900 where a fresh lower top is sought out. </P><IMG class=gsstx alt="Risk_Correlated_Assets_Begging_for_Relief_But_No_Real_Sign_of_Bottom_Yet__body_usd_1.png, Risk Correlated Assets Begging for Relief But No Real Sign of Bottom Yet " src="nanovik.byethost31.com/blog_images//RiskCorrelatedAssetsBeggingforReliefButNoRealSignofBottomYetbodyusd1.png"> USD/CHF:Overall the structure remains highly constructive and we continue to project additional upside over the coming months back above parity. For now, the latest break and close above 0.9335 is expected to accelerate gains for a retest of the yearly highs by 0.9600, while any intraday pullbacks should be very well supported ahead of 0.9200. Ultimately, only back under 0.9000 would negate outlook and give reason for pause. </P>--- Written by Joel Kruger, Technical Currency Strategist </P>To contact Joel Kruger, email jskruger@dailyfx.com. Follow me on Twitter @JoelKruger </P>To be added to Joel Kruger’s distribution list, send an email with subject line “Distribution List” to jskruger@dailyfx.com </P><P>DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.<BR>Learn forex trading with a free practice account and trading charts from FXCM.</P>18 May 2012 09:35 GMT <IMG class=by-block-img src="C:\Program Files (x86)\ABS\Auto Blog Samurai\data\Forex Bulletin\DailyFX Articles\blank.gif" width=3 height=16> <P></P><BR> // SET PAGE PROPERTIES var sProperties = new Object(); sProperties.server = '2.6'; sProperties.channel = 'Technical: Morning Slices'; // Pass page properties to Omniture if (typeof sProperties != 'undefined') { for (var sProperty in sProperties) { s[sProperty] = sProperties[sProperty]; } } var s_code=s.t(); if(s_code) document.write(s_code);<br /><p><a href="http://www.dailyfx.com/forex/technical/article/morning_slices/2012/05/18/Risk_Correlated_Assets_Begging_for_Relief_But_No_Real_Sign_of_Bottom_Yet_.html" target="_blank" rel="nofollow">View the original article here</a></p>http://forex-bulletin.blogspot.com/2012/05/risk-correlated-assets-begging-for.htmlnoreply@blogger.com (Unknown)0tag:blogger.com,1999:blog-4667918269308270638.post-643116265449405217Wed, 30 May 2012 18:55:00 +00002012-05-30T19:55:00.741+01:00FallsForexUSDJPYForex: USD/JPY falls to 79.50 Sorry, I could not read the content fromt this page.Sorry, I could not read the content fromt this page.<br /><p><a href="http://www.fxstreet.com/news/forex-news/article.aspx?storyid=32d3936b-005e-4c67-9cd7-be2a4392ce78" target="_blank" rel="nofollow">View the original article here</a></p>http://forex-bulletin.blogspot.com/2012/05/forex-usdjpy-falls-to-7950.htmlnoreply@blogger.com (Unknown)0tag:blogger.com,1999:blog-4667918269308270638.post-6941584265888676376Wed, 30 May 2012 14:40:00 +00002012-05-30T15:40:00.175+01:00declineGainsPausesKiwi Pauses Decline, Can It Keep Gains? <P><IMG class="alignleft size-full" alt="Kiwi denominations" src="nanovik.byethost31.com/blog_images//kiwi-denominations.jpg" width=280 height=186>The New Zealand dollar stalled its declined and rebounded today on speculations that losses were excessive. Gains were limited, though, as the disagreement between European leaders hurt demand for higher-yielding assets.</P><P>Losses were indeed big as the kiwi (the nickname of New Zealand’s currency) was falling since the beginning of May against the greenback and since the beginning of March versus the yen. In fact, just yesterday the currency touched the lowest level this year. The NZ dollar had a bit of good news today as the traded balance surplus widened to NZ$355 million in April from NZ$186 million in March. Nevertheless, the adverse global economic environment caused by Europe’s woes is likely to keep the kiwi from running much higher.</P><P>NZD/USD was up from 0.7516 to 0.7546 as of 11:02 GMT today after it touched yesterday 0.7457 — the lowest level since November 25. NZD/JPY climbed from 59.69 to 59.84, following the drop to 59.14 yesterday — the lowest price since December 20.</P><P>If you have any questions, comments or opinions regarding the New Zealand Dollar, feel free to post them using the commentary form below.</P><B>Earlier News About the New Zealand Dollar:</B></P><br /><p><a href="http://www.topforexnews.com/2012/05/24/kiwi-pauses-decline-can-it-keep-gains/" target="_blank" rel="nofollow">View the original article here</a></p>http://forex-bulletin.blogspot.com/2012/05/kiwi-pauses-decline-can-it-keep-gains.htmlnoreply@blogger.com (Unknown)0tag:blogger.com,1999:blog-4667918269308270638.post-566504538427195247Wed, 30 May 2012 11:04:00 +00002012-05-30T12:04:00.821+01:0010000againEURJPYForexgroundForex: EUR/JPY on 100.00 ground, again Sorry, I could not read the content fromt this page.Sorry, I could not read the content fromt this page.<br /><p><a href="http://www.fxstreet.com/news/forex-news/article.aspx?storyid=e84afd59-839f-4f21-b2eb-a8ce3e22cd11" target="_blank" rel="nofollow">View the original article here</a></p>http://forex-bulletin.blogspot.com/2012/05/forex-eurjpy-on-10000-ground-again.htmlnoreply@blogger.com (Unknown)0tag:blogger.com,1999:blog-4667918269308270638.post-4780030863502930699Wed, 30 May 2012 07:08:00 +00002012-05-30T08:08:00.138+01:00DespiteOversoldReadingsSightsStillTechnicalEuro Still Has Sights Set on 2012 Low Despite Oversold Technical Readings <BODY readability="47">Ongoing turmoil in Greece pressures markets lower Fear of contagion to larger EX economies weighing Technical studies are however stretched Investors looking to retest Euro 2012 lows Looking for technical bounce before trend continuation Emergency ECB meeting talk temporarily props Euro intraday BOE King downbeat at press conference Pound comes under some relative pressure despite solid employment The latest bout of intensified selling in the Euro has been attributed to the ongoing political turmoil in the Eurozone.Currencies in general have followed suit, and are under pressure against the buck. With no clear resolution in sight for Greece, and new elections on the horizon, many now fear the worst and the possibility of a Greek exit is looking more realistic with every passing day. However, while the possibility is increasing and panic and uncertainty are running high on threat of contagion to larger Eurozone economies, we still do not see the markets at risk for a material sell-off from current levels before a technical correction. </P>Relative performance versus the USD Wednesday (as of 10:40GMT) </P>EUR -0.09% </P>CHF -0.11% </P>AUD -0.22% </P>CAD -0.27% </P>JPY -0.29% </P>GBP -0.44% </P>NZD -0.52% </P>We contend the risk-off trade has been driven more by technical selling, resulting from a daily close below 1.3000 in the Euro several days back, which now has traders setting sights set on a retest of the 2012 lows from January at 1.2625. However, given how severely overextended markets are at present, there should soon be some relief, at least for a little while, before risk liquidation continues. We often find that the middle of the week brings a reversal during periods of intense volatility, and we suspect that the US Dollar may find a top today before selling off into the remainder of this week and the next. </P>So far, the Euro has stalled shy of the 2012 lows from January, but once this level is tested, be on the lookout for a sizable bounce. Talk of an emergency ECB meeting has helped to inspire some bids in European trade, but the market still remains heavily offered and will need to break back above 1.2870 to relieve immediate downside pressures. Elsewhere, the Pound has come under some relative pressure intraday despite some earlier solid employment data, with the downbeat economic outlook from BOE King easily offsetting the positive flows. Meanwhile, USD/JPY has quietly been mounting a recovery, but will need to close above 80.60 to open fresh upside. Looking ahead, there is a good deal of economic data on tap, although we suspect attention will be focused to the FOMC Minutes due out later in the day. </P>ECONOMIC CALENDAR </P><IMG class=gsstx alt="Euro_Still_Has_Sights_Set_on_2012_Low_Despite_Oversold_Technical_Readings_body_Picture_5.png, Euro Still Has Sights Set on 2012 Low Despite Oversold Technical Readings" src="nanovik.byethost31.com/blog_images//EuroStillHasSightsSeton2012LowDespiteOversoldTechnicalReadingsbodyPicture5.png"> TECHNICAL OUTLOOK </P><IMG class=gsstx alt="Euro_Still_Has_Sights_Set_on_2012_Low_Despite_Oversold_Technical_Readings_body_eur.png, Euro Still Has Sights Set on 2012 Low Despite Oversold Technical Readings" src="nanovik.byethost31.com/blog_images//EuroStillHasSightsSeton2012LowDespiteOversoldTechnicalReadingsbodyeur.png"> EUR/USD:The market remains under intense pressure and the focus for now is squarely on a retest of the 2012 lows from January at 1.2625. While we would not rule out a possibility of a test of this level over the coming sessions, short-term technical studies are well oversold and are showing a need for some form of a corrective bounce from where a fresh lower top is sought out. Ultimately however, any rallies should now be very well capped by previous support turned resistance at 1.3000 in favor of additional weakness over the medium-term that projects deeper setbacks into the lower 1.2000's. </P><IMG class=gsstx alt="Euro_Still_Has_Sights_Set_on_2012_Low_Despite_Oversold_Technical_Readings_body_usd.png, Euro Still Has Sights Set on 2012 Low Despite Oversold Technical Readings" src="nanovik.byethost31.com/blog_images//EuroStillHasSightsSeton2012LowDespiteOversoldTechnicalReadingsbodyusd.png"> USD/JPY:The market continues to consolidate around 80.00 and is in the process of looking for a medium-term higher low ahead of the next major upside extension back above the yearly highs at 84.20 and towards 90.00 further up. However, for the time being it remains in question whether the market will still head lower towards the 200-Day SMA by 78.50 before ultimately reversing higher. The key level to watch above comes in by 80.60, and a break and close above this level will officially alleviate downside pressures and suggest that a higher low has now been carved in the 79.00's. </P><IMG class=gsstx alt="Euro_Still_Has_Sights_Set_on_2012_Low_Despite_Oversold_Technical_Readings_body_gbp.png, Euro Still Has Sights Set on 2012 Low Despite Oversold Technical Readings" src="nanovik.byethost31.com/blog_images//EuroStillHasSightsSeton2012LowDespiteOversoldTechnicalReadingsbodygbp.png"> GBP/USD:The latest daily close below 1.6050 now opens the door for an acceleration of declines over the coming days back down towards next key support in the 1.5800's. At this point, look for any intraday rallies to be very well capped ahead of 1.6200, while only back above 1.6300 would negate outlook and give reason for pause. </P><IMG class=gsstx alt="Euro_Still_Has_Sights_Set_on_2012_Low_Despite_Oversold_Technical_Readings_body_usd_1.png, Euro Still Has Sights Set on 2012 Low Despite Oversold Technical Readings" src="nanovik.byethost31.com/blog_images//EuroStillHasSightsSeton2012LowDespiteOversoldTechnicalReadingsbodyusd1.png"> USD/CHF:Overall the structure remains highly constructive and we continue to project additional upside over the coming months back above parity. For now, the latest break and close above 0.9335 is expected to accelerate gains for a retest of the yearly highs by 0.9600, while any intraday pullbacks should be very well supported ahead of 0.9200. Ultimately, only back under 0.9000 would negate outlook and give reason for pause. </P>--- Written by Joel Kruger, Technical Currency Strategist </P>To contact Joel Kruger, email jskruger@dailyfx.com. Follow me on Twitter @JoelKruger </P>To be added to Joel Kruger’s distribution list, send an email with subject line “Distribution List” to jskruger@dailyfx.com </P><br /><p><a href="http://www.dailyfx.com/forex/technical/article/morning_slices/2012/05/16/Euro_Still_Has_Sights_Set_on_2012_Low_Despite_Oversold_Technical_Readings.html" target="_blank" rel="nofollow">View the original article here</a></p>http://forex-bulletin.blogspot.com/2012/05/euro-still-has-sights-set-on-2012-low.htmlnoreply@blogger.com (Unknown)0tag:blogger.com,1999:blog-4667918269308270638.post-7661218172161331737Wed, 30 May 2012 04:02:00 +00002012-05-30T05:02:00.234+01:00BriefDowngradesFitchGreeceReboundStallsBrief Euro Rebound Stalls as Fitch Downgrades Greece <P>Don’t have an FXCM Account?</P><P>Or</P><P>Don’t have an FXCM Account?</P><P>Or</P>Follow Us <P>By Lujia Lin, </EM>17 May 2012 18:04 GMT <IMG class=by-block-img src="C:\Program Files (x86)\ABS\Auto Blog Samurai\data\Forex Bulletin\DailyFX Alerts\blank.gif" width=3 height=16> THE TAKEAWAY: Fitch cuts Greece’s LT debt ratings to CCC > Rating action reflects elections, heightened risk of Euro exit > EUR lower </P>Fitch cut Greece’s long-term debt ratings to CCC from B- on Thursday, pushing the Euro below 1.2720 versus the US Dollar. </P><IMG class=gsstx alt="Brief_Euro_Rebound_Stalls_as_Fitch_Downgrades_Greece_body_Picture_5.png, Brief Euro Rebound Stalls as Fitch Downgrades Greece" src="nanovik.byethost31.com/blog_images//BriefEuroReboundStallsasFitchDowngradesGreecebodyPicture5.png"> Chart generated using FXCM Strategy Trader. Bar denotes release of rating decision. </P>In its statement, the agency cited the results of the May 6 election, the inability of Greek parties to form a functional coalition, and doubts about the country’s ability to remain in the Eurozone. In addition, Fitch cut Greece’s country ceiling to B- from AAA. This represents an effective cap on ratings on all issuers in Greece. </P>Fitch had previously raised Greece’s credit rating from “restricted default” to B- on March 13 after the conclusion of the country’s debt swap at the end of February, which reduced the face value of the Hellenic Republic’s debt burden by over 100 billion Euros. </P>The news caused the EURUSD pair to move lower once again after rebounding from an intraday low of 1.2665. Significant event risk for the common currency remains on the table, including additional negative developments from the Spanish banking sector. With reports that Spain’s recently nationalized lender Bankia has seen around 1 billion Euros of deposit withdrawals since the takeover on May 9, and a likely downgrade of Spanish banks by Moody’s later today, the Euro is set to remain under significant pressure. </P><P>DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.<BR>Learn forex trading with a free practice account and trading charts from FXCM.</P>17 May 2012 18:04 GMT <IMG class=by-block-img src="C:\Program Files (x86)\ABS\Auto Blog Samurai\data\Forex Bulletin\DailyFX Alerts\blank.gif" width=3 height=16> <P></P><BR> // SET PAGE PROPERTIES var sProperties = new Object(); sProperties.server = '2.6'; sProperties.channel = 'Market Alerts'; // Pass page properties to Omniture if (typeof sProperties != 'undefined') { for (var sProperty in sProperties) { s[sProperty] = sProperties[sProperty]; } } var s_code=s.t(); if(s_code) document.write(s_code);<br /><p><a href="http://www.dailyfx.com/forex/market_alert/2012/05/17/Brief_Euro_Rebound_Stalls_as_Fitch_Downgrades_Greece.html" target="_blank" rel="nofollow">View the original article here</a></p>http://forex-bulletin.blogspot.com/2012/05/brief-euro-rebound-stalls-as-fitch.htmlnoreply@blogger.com (Unknown)0tag:blogger.com,1999:blog-4667918269308270638.post-105429534139395973Tue, 29 May 2012 23:59:00 +00002012-05-30T00:59:00.067+01:00AdvanceCanadianIndicatorsLeadingLoonieMixedReboundRetailSalesLoonie Mixed as Canadian Retail Sales Rebound, Leading Indicators Advance <BODY readability="42">THE TAKEAWAY: Canada Retail Sales Bounced 0.4 Percent, Leading Indicators Rose 0.3 Percent> Positive Signal for Economic Growth Coming to the Middle of the Year > CAD Mixed </P>Retail Sales </P>Canadian retail sales rebounded more than forecast in March after February pullback, fueled by higher sales in motor vehicles, clothing, sporting goods, building material and garden equipment. </P>Sales in retail stores rose 0.4 percent to a seasonally adjusted C$39.05 billion in March, Ottawa-based Statistics Canada reported today. The print was higher than economist’s projection of 0.3 percent gain, according to Bloomberg News survey. The less volatile figure, excluding auto sector, modestly edged up 0.1 percent in Marchcompared to 0.5 percent increase widely predicted.Meanwhile, December’s reading was revised downwardly to a gain of 0.4 percent from a surge of 0.5 percent initially reported. </P>Gains were recorded in seven of eleven major categories that account for fifty-six percent of total retail sales in March. Sales at motor vehicle and parts dealers surged 1.2 percent as a result of 0.7 percent increase in receipts at new car dealers and 7.7% advance at other motor vehicle dealers. Similarly, building material and garden equipment posted 1.8 percent rise, a second consecutive monthly gain. Clothing and clothing accessories store sales also edged up 1.3 percent, largely attributable to 7.2 percent increase at shoe stores. </P>Regarding to region, retail sales climbed in four of thirteen major provinces in March. Most of gains were concentrated in Ontario (+1.2%) due to warmer than usual weather. On the contrary, News Brunswick registered the biggest decline of 1.5 percent. </P>Leading indicators </P>Another report issued by Statistics Canada at the same time showed that the Canada’s composite leading indicators rose for the tenth straight month in April on substantial improvement in housing sectors. The index surged 0.3 percent last month, matching with consensus forecast from Bloomberg Survey. Meanwhile, March reading was downwardy revised to a gain of 0.3 percent from an advance of 0.4 percent initially estimated. </P>The composite leading indicator comprised of ten components which significantly affect cyclical activity in the economy and together represent major categories of Gross Domestic Product. Seven of ten components registered gains in April compared to eight in the previous month. </P>Housing index advanced 3.5 percent, mainly contributed to the gain in April leading indicators. The financial components remained positive, as did employment in services. In contrast, manufacturing components deteriorated. New orders fell for the second month in the row (-1.2%) while the ratio of shipments and inventories have flatted. </P>USDCAD 1-minute Chart: May 23, 2012 </P><IMG class=gsstx alt="052312_Canada_Retail_Sales_and_Leading_Indicators_body_Picture_1.png, Loonie Mixed as Canadian Retail Sales Rebound, Leading Indicators Advance" src="nanovik.byethost31.com/blog_images//052312CanadaRetailSalesandLeadingIndicatorsbodyPicture1.png"> Chart created using Strategy Trader – Prepared by Trang Nguyen </P>The Canadian dollar was traded mixed ahead North American session today as the loonie strengthens versus high-yielding currencies (Australian dollar, New Zealand dollar) but weakens versus safe-haven currencies (U.S. dollar, Japanese yen and Swiss franc). As can be seen from the 1-minute USDCAD chart above, the loonie immediately weakens 20 pips versus the greenback in the minutes following the retail sales and leading indicator reports. Nonetheless, the loonie quickly saw correction after ten minutes and edged 35 pips higher to $C1.021 per U.S. dollar. </P>--- Written by Trang Nguyen, DailyFX Research Team for DailyFX.com </P>To contact Trang, email tnguyen@dailyfx.com </P><br /><p><a href="http://www.dailyfx.com/forex/market_alert/2012/05/23/052312_Canada_Retail_Sales_and_Leading_Indicators.html" target="_blank" rel="nofollow">View the original article here</a></p>http://forex-bulletin.blogspot.com/2012/05/loonie-mixed-as-canadian-retail-sales.htmlnoreply@blogger.com (Unknown)0tag:blogger.com,1999:blog-4667918269308270638.post-1437000850193609785Tue, 29 May 2012 19:05:00 +00002012-05-29T20:05:00.417+01:00AfterBanksBelowDowngradesEURUSDMoodysRemainsSpanishEURUSD Remains Below 1.27 After Moody’s Downgrades Spanish Banks <BODY readability="36">THE TAKEAWAY: Moody’s downgrades 16 Spanish banks > Announcement highlights scale of Spanish banking-sector troubles, but widely expected > EUR consolidates at low level </P>In a widely anticipated announcement, Moody’s announced on Thursday the downgrade of 16 Spanish banks – including the country’s largest lenders Banco Santander and BBVA – as well as Santander’s UK-based subsidiary. The move - coming after the downgrade on Monday of 26 Italian lenders – was the latest reminder of the troubles plaguing Spain’s banking sector, but due to the largely expected nature of the announcement, the Euro held steady against the Dollar near 1.2690. </P><IMG class=gsstx alt="EURUSD_Remains_Below_1.27_After_Moodys_Downgrades_Spanish_Banks_body_Picture_5.png, EURUSD Remains Below 1.27 After Moody's Downgrades Spanish Banks" src="nanovik.byethost31.com/blog_images//EURUSDRemainsBelow127AfterMoodysDowngradesSpanishBanksbodyPicture5.png"> Chart generated using FXCM Strategy Trader. First bar denotes Fitch downgrade of Greece. Second bar denotes Moody’s downgrade of Spanish banks. </P>Moody’s downgrades range from one to three notches for the affected institutions. The long-term ratings for both Santander and BBVA were lowered three notches from Aa3 to A3. The accompanying statement cited the general adverse economic scenario in Spain, the deteriorating credit profile of the Spanish government, potentially reduced scope for additional state support, ballooning non-performing assets, and tight interbank markets. </P>Thursday’s rating action is only the latest in a series of developments to damage confidence in the Eurozone’s fourth-largest economy. This has been in no small part due to Spain’s ongoing struggle to convince markets of the durability of its banking sector. As recently as May 11, the Rajoy government mandated that Spanish banks beef up loan-loss provision by a further 30 billion Euros on top of the 53 billion Euros already decreed in February. In addition, the government ordered lenders to transfer foreclosed properties in their books to asset-management agencies, and initiated an audit of the banks’ loan books. </P>However, the measures fell short of establishing a full-fledged bad bank, and the only mention of additional funds was the offer of loans from the national rescue fund FROB at prohibitive interest rates of 10 percent. As a result, the measures failed to assuage markets. Since then, sentiment – and with it, the Euro currency – has only deteriorated further with reports this week that Spanish depositors had withdrawn around 1 billion Euros from Bankia, a lender nationalized by the government on May 9. </P>Despite the dire nature of Moody’s warnings, the Euro found temporary respite from its most recent selloff, momentarily consolidating within the 1.2690-1.2700 range versus the US Dollar. With the trading session already tested by both a Greek downgrade and a disappointing Spanish bond auction, the generally anticipated ratings announcement barely moved the common currency. However, wih no end to common Eurozone themes in sight – the Greek political impasse, recessions in several of the bloc’s largest economies, as well as the banking troubles in Spain – any consolidation or rebound in the Euro would likely be temporary at best. </P><br /><p><a href="http://www.dailyfx.com/forex/market_alert/2012/05/17/EURUSD_Remains_Below_1.27_After_Moodys_Downgrades_Spanish_Banks.html" target="_blank" rel="nofollow">View the original article here</a></p>http://forex-bulletin.blogspot.com/2012/05/eurusd-remains-below-127-after-moodys.htmlnoreply@blogger.com (Unknown)0tag:blogger.com,1999:blog-4667918269308270638.post-3297091839747621988Tue, 29 May 2012 15:59:00 +00002012-05-29T16:59:00.604+01:001573040BrokersextendForexGBPUSDneedsretracementWindsorForex: GBP/USD needs 1.5730/40 to extend retracement – Windsor Brokers Sorry, I could not read the content fromt this page.Sorry, I could not read the content fromt this page.<br /><p><a href="http://www.fxstreet.com/news/forex-news/article.aspx?storyid=89b1d816-3cd4-47f9-9180-560df2398c59" target="_blank" rel="nofollow">View the original article here</a></p>http://forex-bulletin.blogspot.com/2012/05/forex-gbpusd-needs-1573040-to-extend.htmlnoreply@blogger.com (Unknown)0tag:blogger.com,1999:blog-4667918269308270638.post-4007927521983256444Tue, 29 May 2012 11:14:00 +00002012-05-29T12:14:00.542+01:0012500aboveEURUSDForexsteadiesForex: EUR/USD steadies above 1.2500 Sorry, I could not read the content fromt this page.Sorry, I could not read the content fromt this page.<br /><p><a href="http://www.fxstreet.com/news/forex-news/article.aspx?storyid=cf926dba-1478-4cd8-bd08-b81c8c4df29b" target="_blank" rel="nofollow">View the original article here</a></p>http://forex-bulletin.blogspot.com/2012/05/forex-eurusd-steadies-above-12500.htmlnoreply@blogger.com (Unknown)0tag:blogger.com,1999:blog-4667918269308270638.post-4060964101669055552Tue, 29 May 2012 06:18:00 +00002012-05-29T07:18:00.133+01:00ContinueDollarEuropeanProblemsStrengthensUS Dollar Strengthens as European Problems Continue <P><IMG class="alignleft size-full" alt="Mix of US dollar bills" src="nanovik.byethost31.com/blog_images//mixed-dollar-bills.jpg" width=280 height=186>Earlier, the US dollar fell back a little bit on the Forex market. However, the greenback is once again higher against its European counterparts, gaining as uncertainty over Greece — and other countries in the eurozone — continues.</P><P>US dollar is gaining against the euro and the Great Britain pound today, heading higher as risk aversion prevents Forex traders from preferring high beta currencies. European currencies are lower as continued concerns about a Greek exit from the eurozone dominate the markets. Many are hoping for the issue of eurobonds to help alleviate the situation, but even that might not help. And a Greek exit could trigger more exits, especially by other debt-burdened countries like Spain, Italy and Portugal.</P><P>Greenback remains popular, even though there are concerns about the fiscal situation in the United States. US debt continues to grow, and many wonder whether there is a problem brewing. However, with things so dramatic in Europe, the problems in the United States are being somewhat ignored, and the US dollar is still being sought as a safe haven, along with the recently downgraded Japanese yen.</P><P>At 13:29 GMT, EUR/USD is down to 1.2530 from the open at 1.2533, and off the high of 1.2605. GBP/USD is lower at 1.5667, just down from the open at 1.5668. USD/JPY is lower at 79.5720, down from the open at 79.6110.</P><P>If you have any questions, comments or opinions regarding the US Dollar, feel free to post them using the commentary form below.</P><B>Earlier News About the US Dollar:</B></P><br /><p><a href="http://www.topforexnews.com/2012/05/25/us-dollar-strengthens-as-european-problems-continue/" target="_blank" rel="nofollow">View the original article here</a></p>http://forex-bulletin.blogspot.com/2012/05/us-dollar-strengthens-as-european.htmlnoreply@blogger.com (Unknown)0tag:blogger.com,1999:blog-4667918269308270638.post-4382403506992553152Tue, 29 May 2012 02:33:00 +00002012-05-29T03:33:00.413+01:00AprilExpectedGermanHigherPricesProducerGerman Producer Prices Were Higher than Expected in April <P>Don’t have an FXCM Account?</P><P>Or</P><P>Don’t have an FXCM Account?</P><P>Or</P>Follow Us <P>By David Schutz, </EM>18 May 2012 05:00 GMT <IMG class=by-block-img src="C:\Program Files (x86)\ABS\Auto Blog Samurai\data\Forex Bulletin\DailyFX Alerts\blank.gif" width=3 height=16> THE TAKEAWAY: German producer prices above expected -> Focus remains on political developments -> Euro continues to suffer from risk-off environment </P>Producer prices climbed in April, coming in above expectations at 0.2% on the month versus 0.3% expected. The yearly number was 2.4%, versus 2.5% expected. Although the numbers were higher than economists had predicted, they represented a drop from March. </P>Market remained focused on political developments in the Eurozone, with political instability contributing to an intense bout of risk aversion and selling of currencies in favor of the US Dollar. </P><IMG class=gsstx alt="German_Producer_Prices_Above_Expectations_in_April_body_BOE.png, German Producer Prices Were Higher than Expected in April" src="nanovik.byethost31.com/blog_images//GermanProducerPricesAboveExpectationsinAprilbodyBOE.png"> EURUSD approached the 2012 lows early in European trade as investors continued to sell the single currency. </P><P>DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.<BR>Learn forex trading with a free practice account and trading charts from FXCM.</P>18 May 2012 05:00 GMT <IMG class=by-block-img src="C:\Program Files (x86)\ABS\Auto Blog Samurai\data\Forex Bulletin\DailyFX Alerts\blank.gif" width=3 height=16> <P></P><BR> // SET PAGE PROPERTIES var sProperties = new Object(); sProperties.server = '2.6'; sProperties.channel = 'Market Alerts'; // Pass page properties to Omniture if (typeof sProperties != 'undefined') { for (var sProperty in sProperties) { s[sProperty] = sProperties[sProperty]; } } var s_code=s.t(); if(s_code) document.write(s_code);<br /><p><a href="http://www.dailyfx.com/forex/market_alert/2012/05/18/German_Producer_Prices_Above_Expectations_in_April.html" target="_blank" rel="nofollow">View the original article here</a></p>http://forex-bulletin.blogspot.com/2012/05/german-producer-prices-were-higher-than.htmlnoreply@blogger.com (Unknown)0tag:blogger.com,1999:blog-4667918269308270638.post-1477716575761653614Mon, 28 May 2012 21:58:00 +00002012-05-28T22:58:00.568+01:0012680EURUSDForexsidewaysForex: EUR/USD sideways at 1.2680 area Sorry, I could not read the content fromt this page.Sorry, I could not read the content fromt this page.<br /><p><a href="http://www.fxstreet.com/news/forex-news/article.aspx?storyid=9d21377b-8599-4766-b879-8c2cd4a82b4d" target="_blank" rel="nofollow">View the original article here</a></p>http://forex-bulletin.blogspot.com/2012/05/forex-eurusd-sideways-at-12680-area.htmlnoreply@blogger.com (Unknown)0tag:blogger.com,1999:blog-4667918269308270638.post-5673168087787539645Mon, 28 May 2012 17:14:00 +00002012-05-28T18:14:00.543+01:00FallsIndexIndicatorsLeadingPhillyPlummetedUnexpectedlyUSD Falls as Leading Indicators and Philly Fed Index Unexpectedly Plummeted <BODY readability="31">THE TAKEAWAY:U.S Leading Indicators Fell 0.1% in April; Philadelphia Index Declined to Minus 5.8 in May > Deterioration in Labor and Housing Condition > USD Falls </P>The results of the Philadelphia Federal Reserve’s manufacturing survey and the U.S. Leading economic indicators index for April released at 10:00 EST today both missed consensus forecast, pointing to slow growth in the world’s largest economy towards the middle of the year </P>Leading indicators </P>The U.S. Leading Economic Indicator, a gauge of the economic outlook for the next three to six months, unexpectedly declined for the first time in seven months in April over deterioration in labor and housing markets. </P>The index retreated 0.1 percent in April, in contrast with 0.3 percent gain in March and 0.7 percent rise in February, the Conference Board reported today. The readingmissed median projections of a 0.1 percent gain from forty-nine economists surveyed by the Bloomberg News. </P>Building permits index slumped 0.2 percent after rising 0.23 percent in March and 0.09 percent in February. Additionally, jobless claims index worsened 0.19 percent while average workweek edged up 0.19 percent. Stock prices indicator unexpectedly declined for the first time since October 2011. Besides, all three manufacturing indexes showed no sizable gains in the month. It’s evident that U.S. economic recovery has been exposed to risks from the Eurozone sovereign debt crisis and slow growth in China. </P>Philadelphia Index </P>The Philadelphia Fed Index fell into the negative territory for the first time since September 2011, indicating shrink in the regional manufacturing activity. The results from the Business Outlook Survey of Federal Reserve Bank of Philadelphia showed the index slipped to minus 5.8 this month from 8.5 in April to hit the lowest level in eight months. The print surprised market participants as economists widely expected the reading of 10.0 this month. </P>The Philly Fed Index gauges changes in business growth in the third district including Pennsylvania, New Jersey and Delaware. The index above 0 indicates factory-sector expansion while below 0 indicates contraction.Within the Philadelphia Fed survey, indexes for new orders tumbled to minus 1.2 in May from 2.7 in the previous month due to lower demand for manufacturing goods from Europe and China. Besides, more firms for the first time reported price declines for their product than prices increase. Indexes for prices paid and price received both notably decreased this month.The level of employment worsened with both average employee workweek and number of employees indexes falling into a negative territory. </P>Manufacturing executives are less optimistic about the long-term business outlook. The future general index significantly plunged to 15.0in May from April’s 33.8. Firms’ responses suggesteddeterioration in new orders and shipment in coming months. Similarly, firms also revealed negative signal in their hiring plan in intermediate term. </P>USDJPY 1-minute Chart: May 17, 2012 </P><IMG class=gsstx alt="051712_US_Leading_Indicators_April_and_Philadephia_Fed_May_body_Picture_1.png, USD Falls as Leading Indicators and Philly Fed Index Unexpectedly Plummeted" src="nanovik.byethost31.com/blog_images//051712USLeadingIndicatorsAprilandPhiladephiaFedMaybodyPicture1.png"> Chart created using Strategy Trader – Prepared by Trang Nguyen </P>The U.S. dollar edged lower versus most of its major trading partners except its Canadian counterpart in the minutes following the dismal Leading Indicators and Philly Fed Index reports. Data released this early morning also showed that more Americans filed applications for unemployment benefit last week. As seen from the 1-minute USDJPY chart above, the greenback immediately slipped 50 pips from 80.2 to 79.7 within 10 minutes, trades at 79.77 at the time this report was written. </P>--- Written by Trang Nguyen, DailyFX Research Team for DailyFX.com </P>To contact Trang, email tnguyen@dailyfx.com </P><br /><p><a href="http://www.dailyfx.com/forex/market_alert/2012/05/17/051712_US_Leading_Indicators_April_and_Philadephia_Fed_May.html" target="_blank" rel="nofollow">View the original article here</a></p>http://forex-bulletin.blogspot.com/2012/05/usd-falls-as-leading-indicators-and.htmlnoreply@blogger.com (Unknown)0tag:blogger.com,1999:blog-4667918269308270638.post-3852388387345583408Mon, 28 May 2012 14:09:00 +00002012-05-28T15:09:00.953+01:00AssetsCorrelatedEuropeanOfferedRalliesSessionRisk Correlated Assets Well Offered on Rallies in European Session <BODY readability="60">Euro rallies met with very solid offers above 1.2800 Risk correlated assets back under pressure in European session Fitch downgrades Japan ratings; Yen sells off OECD and IMF out with some downbeat global comments UK inflation softer than expected Early rally attempts in risk correlated assets on Tuesday were met with solid resistance in the European session. Market participants shrugged off upbeat news that Germany and France would make strong efforts to keep Greece in the EMU, and the reports that Greek banks would receive a Eur18B recapitalization down payment on Friday. Instead, focus remained on a Fitch downgrade to Japan, and downgraded Chinese growth forecasts from the OECD. </P>Relative performance versus the USD Tuesday (as of 10:45GMT) </P>CAD -0.10% </P>GBP -0.42% </P>AUD -0.43% </P>JPY -0.50% </P>CHF -0.53% </P>EUR -0.55% </P>AUD -0.59% </P>The IMF also came out with some downbeat comments, adding to an intense intraday pullback in the Euro from levels above 1.2800 down into the mid-1.2700’s. From here, it will be interesting to see how things play out into North American trade, but with US equity futures already pointing lower, things are not looking pretty. Still, market conditions are quite choppy right now and we continue to recommend staying on the sidelines. </P>ECONOMIC CALENDAR </P><IMG class=gsstx alt="Risk_Correlated_Assets_Well_Offered_on_Rallies_in_European_Session_body_Picture_5.png, Risk Correlated Assets Well Offered on Rallies in European Session " src="nanovik.byethost31.com/blog_images//RiskCorrelatedAssetsWellOfferedonRalliesinEuropeanSessionbodyPicture5.png"> TECHNICAL OUTLOOK </P><IMG class=gsstx alt="Risk_Correlated_Assets_Well_Offered_on_Rallies_in_European_Session_body_eur.png, Risk Correlated Assets Well Offered on Rallies in European Session " src="nanovik.byethost31.com/blog_images//RiskCorrelatedAssetsWellOfferedonRalliesinEuropeanSessionbodyeur.png"> EUR/USD:The market remains under intense pressure and the focus for now is squarely on a retest of the 2012 lows from January at 1.2625. While we would not rule out a possibility of a test of this level over the coming sessions, short-term technical studies are correcting from oversold and are showing a need for some form of a corrective bounce from where a fresh lower top is sought out. Ultimately however, any rallies should now be very well capped by previous support turned resistance at 1.3000 in favor of additional weakness over the medium-term that projects deeper setbacks into the lower 1.2000's. </P><IMG class=gsstx alt="Risk_Correlated_Assets_Well_Offered_on_Rallies_in_European_Session_body_usd.png, Risk Correlated Assets Well Offered on Rallies in European Session " src="nanovik.byethost31.com/blog_images//RiskCorrelatedAssetsWellOfferedonRalliesinEuropeanSessionbodyusd.png"> USD/JPY:The market continues to consolidate around 80.00 and is in the process of looking for a medium-term higher low ahead of the next major upside extension back above the yearly highs at 84.20 and towards 90.00 further up. However, for the time being it remains in question whether the market will still head lower towards the 200-Day SMA by 78.50 before ultimately reversing higher. The key level to watch above comes in by 80.60, and a break and close above this level will officially alleviate downside pressures and suggest that a higher low has now been carved in the 79.00's. </P><IMG class=gsstx alt="Risk_Correlated_Assets_Well_Offered_on_Rallies_in_European_Session_body_gbp.png, Risk Correlated Assets Well Offered on Rallies in European Session " src="nanovik.byethost31.com/blog_images//RiskCorrelatedAssetsWellOfferedonRalliesinEuropeanSessionbodygbp.png"> GBP/USD:The market remains under intense pressure since breaking back below 1.6000 and setbacks could now extend towards next key support in he 1.5600 area over the coming sessions. Still, daily studies are now stretched and we would prefer looking to sell into rallies towards 1.6000 where a fresh lower top is sought out. </P><IMG class=gsstx alt="Risk_Correlated_Assets_Well_Offered_on_Rallies_in_European_Session_body_usd_1.png, Risk Correlated Assets Well Offered on Rallies in European Session " src="nanovik.byethost31.com/blog_images//RiskCorrelatedAssetsWellOfferedonRalliesinEuropeanSessionbodyusd1.png"> USD/CHF:Overall the structure remains highly constructive and we continue to project additional upside over the coming months back above parity. For now, the latest break and close above 0.9335 is expected to accelerate gains for a retest of the yearly highs by 0.9600, while any intraday pullbacks should be very well supported ahead of 0.9200. Ultimately, only back under 0.9000 would negate outlook and give reason for pause. </P>--- Written by Joel Kruger, Technical Currency Strategist </P>To contact Joel Kruger, email jskruger@dailyfx.com. Follow me on Twitter @JoelKruger </P>To be added to Joel Kruger’s distribution list, send an email with subject line “Distribution List” to jskruger@dailyfx.com </P><br /><p><a href="http://www.dailyfx.com/forex/technical/article/morning_slices/2012/05/22/Risk_Correlated_Assets_Well_Offered_on_Rallies_in_European_Session.html" target="_blank" rel="nofollow">View the original article here</a></p>http://forex-bulletin.blogspot.com/2012/05/risk-correlated-assets-well-offered-on.htmlnoreply@blogger.com (Unknown)0tag:blogger.com,1999:blog-4667918269308270638.post-5036381051592781604Mon, 28 May 2012 09:44:00 +00002012-05-28T10:44:00.628+01:00aroundForexoscillatingUSDJPYForex: USD/JPY oscillating around 79.50 Sorry, I could not read the content fromt this page.Sorry, I could not read the content fromt this page.<br /><p><a href="http://www.fxstreet.com/news/forex-news/article.aspx?storyid=fcedbbdd-31ad-477d-a423-d74f80ad67e6" target="_blank" rel="nofollow">View the original article here</a></p>http://forex-bulletin.blogspot.com/2012/05/forex-usdjpy-oscillating-around-7950.htmlnoreply@blogger.com (Unknown)0tag:blogger.com,1999:blog-4667918269308270638.post-3615655737544089860Mon, 28 May 2012 05:12:00 +00002012-05-28T06:12:00.410+01:0005072012ForecastForexTradingWeeklyForex Trading Weekly Forecast - 05.07.2012 <P>Don’t have an FXCM Account?</P><P>Or</P><P>Don’t have an FXCM Account?</P><P>Or</P>Follow Us <P>By David Rodriguez, Quantitative Strategist ; John Kicklighter, Sr. Currency Strategist ; Ilya Spivak, Currency Strategist ; Michael Boutros, Currency Strategist ; David Song, Currency Analyst and Christopher Vecchio, Currency Analyst </EM>05 May 2012 00:47 GMT <IMG class=by-block-img src="C:\Program Files (x86)\ABS\Auto Blog Samurai\data\Forex Bulletin\DailyFX Forecasts\blank.gif" width=3 height=16> <IMG class=gsstx alt="Forex_Trading_Weekly_Forecast_05.07.2012_body_Chart_1.png, Forex Trading Weekly Forecast - 05.07.2012" src="nanovik.byethost31.com/blog_images//ForexTradingWeeklyForecast05072012bodyChart1.png"> <P>DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.<BR>Learn forex trading with a free practice account and trading charts from FXCM.</P>05 May 2012 00:47 GMT <IMG class=by-block-img src="C:\Program Files (x86)\ABS\Auto Blog Samurai\data\Forex Bulletin\DailyFX Forecasts\blank.gif" width=3 height=16> <P></P><BR> // SET PAGE PROPERTIES var sProperties = new Object(); sProperties.server = '2.6'; sProperties.channel = 'Fundamental: Weekly Title'; // Pass page properties to Omniture if (typeof sProperties != 'undefined') { for (var sProperty in sProperties) { s[sProperty] = sProperties[sProperty]; } } var s_code=s.t(); if(s_code) document.write(s_code);<br /><p><a href="http://www.dailyfx.com/forex/fundamental/forecast/weekly/title/2012/05/05/Forex_Trading_Weekly_Forecast_05.07.2012.html" target="_blank" rel="nofollow">View the original article here</a></p>http://forex-bulletin.blogspot.com/2012/05/forex-trading-weekly-forecast-05072012.htmlnoreply@blogger.com (Unknown)0tag:blogger.com,1999:blog-4667918269308270638.post-561658019475132900Mon, 28 May 2012 00:39:00 +00002012-05-28T01:39:00.086+01:0012674DailyFXEURUSDForexstrengthtowardsForex: EUR/USD a sell on strength towards 1.2674 – DailyFX Sorry, I could not read the content fromt this page.Sorry, I could not read the content fromt this page.<br /><p><a href="http://www.fxstreet.com/news/forex-news/article.aspx?storyid=f23f11d9-743f-4972-b3b1-b8c0dfe72ba0" target="_blank" rel="nofollow">View the original article here</a></p>http://forex-bulletin.blogspot.com/2012/05/forex-eurusd-sell-on-strength-towards.htmlnoreply@blogger.com (Unknown)0tag:blogger.com,1999:blog-4667918269308270638.post-8109854540172051597Sun, 27 May 2012 21:03:00 +00002012-05-27T22:03:00.473+01:00AgainstAheadConsolidateFreshScandisStillWeaknessScandis Still Consolidate, But Fresh Weakness Ahead Against Eur and USD <BODY readability="24">Eur/Sek Overall, we continue to project significant upside in this cross rate and see the market in the process of carving a material base that will ultimately open moves potentially back towards the 9.75 area over the coming months. A major double bottom now looks to be carving by the 8.75 area, and a break above the 9.35 neckline will indeed confirm our bullish outlook. </P>Usd/Sek An inverse head & shoulders pattern has triggered following the break above 7.00, which now opens the door for more significant gains towards 8.00 further up. However, daily studies are unwinding from severely overbought territory, and as such, look for opportunities to buy into pullbacks towards 6.75. </P>Usd/Nok Although the market has been confined to a multi-day consolidation, dips have been very well supported and we continue to see evidence of an eventual break of this range to the upside. Look for the latest push back above 5.85 to confirm bias and accelerate gains towards 6.10. Only back under 5.65 would delay and give reason for concern. </P>Eur/NokLooks to be finally attempting to establish some form of a base after being very well offered over the past several weeks. The latest break back above 7.60 confirms outlook and we now expect to see an acceleration of gains towards 7.65 over the coming days. </P>--- Written by Joel Kruger, Technical Currency Strategist </P>To contact Joel Kruger, email jskruger@dailyfx.com. Follow me on Twitter @JoelKruger </P>To be added to Joel Kruger’s distribution list, send an email with subject line “Distribution List” to jskruger@dailyfx.com </P><P>DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.<BR>Learn forex trading with a free practice account and trading charts from FXCM.</P><br /><p><a href="http://www.dailyfx.com/forex/technical/article/scandi_daily/2012/05/23/scandi_daily.html" target="_blank" rel="nofollow">View the original article here</a></p>http://forex-bulletin.blogspot.com/2012/05/scandis-still-consolidate-but-fresh.htmlnoreply@blogger.com (Unknown)0tag:blogger.com,1999:blog-4667918269308270638.post-4258499634918822965Sun, 27 May 2012 16:53:00 +00002012-05-27T17:53:00.427+01:00DominatedropsFreshPanicTradeEuro Drops to Fresh 2012 Lows; Fear and Panic Dominate Trade <BODY readability="53">Fear and uncertainty take hold of markets Price action reminiscent of Bear and Lehman Investors continue to price in probability for Greek exit Euro breaks to fresh 2012 lows; no signs of bounce Bank of Japan leaves policy on hold as widely expected BOE Minutes reveal 8-1 vote to keep rates steady; retail sales very weak Fear and uncertainty are the ultimate market poison, and of course, the ongoing European turmoil has fueled both. Market participants don’t seem to be thinking clearly, in a way reminiscent of the US environment in the early crisis days when Bear Stearns and Lehman collapsed. </P>We don’t blame them. European leaders are dragging their feet on Greece, and the longer markets wait for a solution, the more investors will price-in a Greek default and Euro exit. The next step is only logical - instead of speculating if Greece will egress, market players are now wondering how messy the fallout will be. </P>And naturally, currencies have been feeling the brunt of all this. Price action has seen resurgence in broad based buying of the US Dollar and Yen on a flight to safety, while risk correlated assets have been aggressively sold. Any rebound in the early week following some already aggressive risk selling in recent sessions has already been well offered, and the risks from here continue to be tilted to the downside. In fact, it is actually rather surprising that the Euro has only just now broken down through the yearly lows from January at 1.2625. The EU Summit today could inspire some fresh volatility, and we will be watching closely for any positive developments. Still, we recommend that market participants take to the sidelines and patiently wait for the panic and fear to subside. </P>Relative performance versus the USD Wednesday (as of 10:50GMT) </P>JPY +0.72% </P>GBP -0.22% </P>CAD -0.23% </P>CHF -0.26% </P>EUR -0.27% </P>AUD -0.62% </P>NZD -0.63% </P>Elsewhere, the Bank of Japan has come out and left policy on hold as was widely expected. While the central bank did cite ongoing risks to the global economy, perhaps some upbeat comments towards the local economy were poorly mistimed given the escalation in global fear over the past 24 hours and recent Fitch downgrade of Japan. Unfortunately for the administration, this will only add to additional upside pressure on the Yen, which still trades rather close to its record highs against many currencies. Meanwhile, comments from the former Greek PM that both a Greek exit or austerity would both be quite painful, have not helped matters, while an abysmal UK retail sales print was also digested in the European session. </P>Technically, risk correlated assets are already well oversold on the daily charts, and it will be interesting to see just how stretched these markets can get before any sign of rebound. Aussie and Kiwi have both dropped to fresh multi-day lows against the buck, and yet both of these currencies are already well oversold on the short-term charts. The Euro is also oversold and yet, given the fundamental outlook above, things could still get much uglier. Normally, we might recommend looking to fade the risk off trade, but given just how scary markets are right now, the best place is probably on the sidelines. It is true that there is no money to be made on the sidelines, but sometimes, the best trade is no trade at all. </P>ECONOMIC CALENDAR </P><IMG class=gsstx alt="Euro_Drops_to_Fresh_2012_Lows_Fear_and_Panic_Dominate_Trade_body_Picture_5.png, Euro Drops to Fresh 2012 Lows; Fear and Panic Dominate Trade" src="nanovik.byethost31.com/blog_images//EuroDropstoFresh2012LowsFearandPanicDominateTradebodyPicture5.png"> TECHNICAL OUTLOOK </P><IMG class=gsstx alt="Euro_Drops_to_Fresh_2012_Lows_Fear_and_Panic_Dominate_Trade_body_eur.png, Euro Drops to Fresh 2012 Lows; Fear and Panic Dominate Trade" src="nanovik.byethost31.com/blog_images//EuroDropstoFresh2012LowsFearandPanicDominateTradebodyeur.png"> EUR/USD:The market remains under intense pressure with the market finally taking out the 2012 lows from January at 1.2625. While we would not rule out a possibility of a sustained break below this level over the coming sessions, short-term technical studies are correcting from oversold and are showing a need for some form of a bounce from where a fresh lower top is sought out. Ultimately however, any rallies should now be very well capped by previous support turned resistance at 1.3000 in favor of additional weakness over the medium-term that projects deeper setbacks into the lower 1.2000's. </P><IMG class=gsstx alt="Euro_Drops_to_Fresh_2012_Lows_Fear_and_Panic_Dominate_Trade_body_usd.png, Euro Drops to Fresh 2012 Lows; Fear and Panic Dominate Trade" src="nanovik.byethost31.com/blog_images//EuroDropstoFresh2012LowsFearandPanicDominateTradebodyusd.png"> USD/JPY:The market continues to consolidate around 80.00 and is in the process of looking for a medium-term higher low ahead of the next major upside extension back above the yearly highs at 84.20 and towards 90.00 further up. However, for the time being it remains in question whether the market will still head lower towards the 200-Day SMA by 78.50 before ultimately reversing higher. The key level to watch above comes in by 80.60, and a break and close above this level will officially alleviate downside pressures and suggest that a higher low has now been carved in the 79.00's. </P><IMG class=gsstx alt="Euro_Drops_to_Fresh_2012_Lows_Fear_and_Panic_Dominate_Trade_body_gbp.png, Euro Drops to Fresh 2012 Lows; Fear and Panic Dominate Trade" src="nanovik.byethost31.com/blog_images//EuroDropstoFresh2012LowsFearandPanicDominateTradebodygbp.png"> GBP/USD:The market remains under intense pressure since breaking back below 1.6000 and setbacks could now extend towards next key support in he 1.5600 area over the coming sessions. Still, daily studies are now stretched and we would prefer looking to sell into rallies towards 1.6000 where a fresh lower top is sought out. </P><IMG class=gsstx alt="Euro_Drops_to_Fresh_2012_Lows_Fear_and_Panic_Dominate_Trade_body_usd_1.png, Euro Drops to Fresh 2012 Lows; Fear and Panic Dominate Trade" src="nanovik.byethost31.com/blog_images//EuroDropstoFresh2012LowsFearandPanicDominateTradebodyusd1.png"> USD/CHF:Overall the structure remains highly constructive and we continue to project additional upside over the coming months back above parity. For now, the latest break and close above 0.9335 is expected to accelerate gains for a retest of the yearly highs by 0.9600, while any intraday pullbacks should be very well supported ahead of 0.9200. Ultimately, only back under 0.9000 would negate outlook and give reason for pause. </P>--- Written by Joel Kruger, Technical Currency Strategist </P>To contact Joel Kruger, email jskruger@dailyfx.com. Follow me on Twitter @JoelKruger </P>To be added to Joel Kruger’s distribution list, send an email with subject line “Distribution List” to jskruger@dailyfx.com </P><br /><p><a href="http://www.dailyfx.com/forex/technical/article/morning_slices/2012/05/23/Euro_Drops_to_Fresh_2012_Lows_Fear_and_Panic_Dominate_Trade.html" target="_blank" rel="nofollow">View the original article here</a></p>http://forex-bulletin.blogspot.com/2012/05/euro-drops-to-fresh-2012-lows-fear-and.htmlnoreply@blogger.com (Unknown)0tag:blogger.com,1999:blog-4667918269308270638.post-1631895965352936645Sun, 27 May 2012 12:49:00 +00002012-05-27T13:50:28.300+01:00DeterioratesHealthTechnicalAUD and NZD Technical Health Deteriorates <BODY readability="26">Australian Dollar / New Zealand Dollar </P>Weekly Bars </P><IMG class=gsstx alt="AUD_and_NZD_Technical_Health_Deteriorates__body_audnzd.png, AUD and NZD Technical Health Deteriorates" src="nanovik.byethost31.com/blog_images//AUDandNZDTechnicalHealthDeterioratesbodyaudnzd.png"> Prepared by Jamie Saettele, CMT </P>A multi-year topping pattern is evident on weekly charts. This rally from the April low offers an opportunity to align with the larger bear trend against 13061. Resistance is defined by the current level (upward sloping trendline) and 3/15 high at 12934. The trendline that extends off of the March 2011 and December 2011 highs is at about 12990 this week and 12975 next week. </P>New Zealand Dollar / Canadian Dollar </P>Weekly Bars </P><IMG class=gsstx alt="AUD_and_NZD_Technical_Health_Deteriorates__body_nzdcad.png, AUD and NZD Technical Health Deteriorates" src="nanovik.byethost31.com/blog_images//AUDandNZDTechnicalHealthDeterioratesbodynzdcad.png"> Prepared by Jamie Saettele, CMT </P>The NZDCAD is just pips away from the November low at 7717. The longer term trendline is of interest below there at 7555 this week (increases about 7 pips per week), which intersects with lows in April 2011. Expect a bounce from these levels if reached. The downside is favored against 7895 and resistance is 7775/95. </P>Australian Dollar / Canadian Dollar </P>Weekly Bars </P><IMG class=gsstx alt="AUD_and_NZD_Technical_Health_Deteriorates__body_audcad.png, AUD and NZD Technical Health Deteriorates" src="nanovik.byethost31.com/blog_images//AUDandNZDTechnicalHealthDeterioratesbodyaudcad.png"> Prepared by Jamie Saettele, CMT </P>The AUDCAD has already broken below its long term trendline and immediate focus is on the August 2011 low at 9915 (then the March 2011 low at 9606). Price has stabilized the last 2 days but the shallow bounce is viewed as nothing more than consolidation. 10040/60 is resistance and the downside is favored against 10140 (5/10 high). </P>Euro / New Zealand Dollar </P>Daily Bars </P><IMG class=gsstx alt="AUD_and_NZD_Technical_Health_Deteriorates__body_eurnzd.png, AUD and NZD Technical Health Deteriorates" src="nanovik.byethost31.com/blog_images//AUDandNZDTechnicalHealthDeterioratesbodyeurnzd.png"> Prepared by Jamie Saettele, CMT </P>Channel resistance is holding for now but a break exposes the 2012 high (1/2 high) at 16662. A move through would be considered significant not just because of the YTD high but also because of the break through the base channel. As focused on many times in these technical pages, a break of the base channel suggests that an impulse is underway. In that case, focus would shift higher to former support at 17069 and the 161.8% extension at 17121. 16360 is support and the trend is bullish against 16150. </P>Euro / Australian Dollar </P>Daily Bars </P><IMG class=gsstx alt="AUD_and_NZD_Technical_Health_Deteriorates__body_euraud.png, AUD and NZD Technical Health Deteriorates" src="nanovik.byethost31.com/blog_images//AUDandNZDTechnicalHealthDeterioratesbodyeuraud.png"> Prepared by Jamie Saettele, CMT </P>Holding trendline support, the EURAUD is constructive against 12645. Reward/risk is favorable towards a former pivot at 13226. Channel resistance crosses this level next week (on the 15th to be exact). Setbacks (such as today’s drop) are viewed as opportunities to get long for a potential break. </P>--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com </P>To contact Jamie e-mail jsaettele@dailyfx.com. Follow me on Twitter @JamieSaettele </P>To be added to Jamie’s e-mail distribution list, send an e-mail with subject line "Distribution List" to jsaettele@dailyfx.com </P>Jamie is the author of Sentiment in the Forex Market. </P><br /><p><a href="http://www.dailyfx.com/forex/technical/article/currency_crosses/2012/05/15/AUD_and_NZD_Technical_Health_Deteriorates_.html" target="_blank" rel="nofollow">View the original article here</a></p>http://forex-bulletin.blogspot.com/2012/05/aud-and-nzd-technical-health.htmlnoreply@blogger.com (Unknown)0tag:blogger.com,1999:blog-4667918269308270638.post-5394112266043983249Tue, 20 Mar 2012 15:24:00 +00002012-03-20T15:24:00.186+00:00AnalysisEquityGlobalMonitorResearchTechnoFundamentalGlobal Equity Monitor: Techno-Fundamental Research & Analysis <BODY readability="47">US equities remains very well bid; 100-Day SMA now key indicator UK equities should find formidable resistance by psychological barrier German equities break through key level; additional gains limited Japanese equities at risk for major corrective declines Australian equities remain well offered on rallies US30 (Dow) </P><IMG class=gsstx alt="Global_Equity_Monitor_Techno-Fundamental_Research_body_us30.png, Global Equity Monitor: Techno-Fundamental Research & Analysis" src="nanovik.byethost31.com/blog_images//GlobalEquityMonitorTechno-FundamentalResearchbodyus30.png"> Technical: The market remains exceptionally well bid and while we continue to project a bearish reversal ahead, there is no clear sign of any such development just yet. We had been looking for a break back below the 20-day SMA to confirm our bias but this proved to be a faulty signal and we will now defer to a break below the 100-Day SMA for bearish confirmation. Until then, the uptrend remains intact. </P>Fundamental: US markets remain well bid on sign that the US is poised to resume its role (for now at least) as the catalyst of global economic growth. The Fed, however, continues to remain hesitant to declare an economic recovery with Fed’s Evans yesterday calling for a third round of quantitative easing and for the Fed to avoid a “premature” rate hike until unemployment falls below 7% or inflation threatens to top 3%. For the time being, then, investors seem poised to continue taking advantage of ultralow rates. </P>UK100 (FTSE) </P><IMG class=gsstx alt="Global_Equity_Monitor_Techno-Fundamental_Research_body_uk1000.png, Global Equity Monitor: Techno-Fundamental Research & Analysis" src="nanovik.byethost31.com/blog_images//GlobalEquityMonitorTechno-FundamentalResearchbodyuk1000.png"> Technical: Although the market has managed to mount an impressive rebound since breaking down from 2012 highs at 5,964, we see any additional rallies as limited, with the greater risk for the formation of an interim top around psychological barriers at 6,000. Look for a break back below 5,900 to help confirm outlook. </P>Fundamental: Mining companies and banks led a decline in UK stocks today as uncertainly over Exchequer Chancellor Osborne’s budget (set for release this week) kept markets in limbo. As the spat over a possible scrap of the UK’s top tax bracket (50% income tax) continues, Osborne today sought to calm speculation by promising to use the new budget to help lower-income workers. </P>GER30 (DAX) </P><IMG class=gsstx alt="Global_Equity_Monitor_Techno-Fundamental_Research_body_ger30.png, Global Equity Monitor: Techno-Fundamental Research & Analysis" src="nanovik.byethost31.com/blog_images//GlobalEquityMonitorTechno-FundamentalResearchbodyger30.png"> Technical: While the market has managed to post a significant recovery rally and extend gains to fresh 2012 highs, we still see the prospects for recent rallies beyond 7,000 as limited with the greater risk for the formation of a medium-term top in favor of a deeper decline over the coming weeks. Look for a break and close back under 7,000 to confirm and accelerate. </P>Fundamental: European stocks declined today after a sharp weekly advance last week. The move was attributed to market consolidation. An IMF report released over the weekend said that without official support and access to ECB funding, a disorderly Greek exit from the Euro-area would have been unavoidable. The report comes amid speculation that the recent Greek deal has merely delayed the inevitable; a Pimco executive today said he expects Portugal to become a “second Greece” in the near future. </P>JPN225 (Nikkei) </P><IMG class=gsstx alt="Global_Equity_Monitor_Techno-Fundamental_Research_body_jpn225.png, Global Equity Monitor: Techno-Fundamental Research & Analysis" src="nanovik.byethost31.com/blog_images//GlobalEquityMonitorTechno-FundamentalResearchbodyjpn225.png"> Technical: Daily studies are finally starting to correct from violently overbought levels and we would recommend that bulls proceed with caution over the coming days. From here, short-term risks are tilted to the downside so that technical studies can unwind from these overextended readings. Look for a pullback towards the 9,500 area before considering possibility of a bullish resumption. </P>Fundamental: The Japanese Nikkei 225 Stock Average recorded its highest close since the March 2011 earthquake. The yen took gains against the euro and the dollar on speculation it had excessively dropped recently. The Yen’s strength translated to a consolidation of recent sharp gains in Japanese equities and the market seems poised for a healthy pullback before resuming further gains as the Bank of Japan encourages the outlook of exporters. </P>AUS200 (ASX) </P><IMG class=gsstx alt="Global_Equity_Monitor_Techno-Fundamental_Research_body_aus200.png, Global Equity Monitor: Techno-Fundamental Research & Analysis" src="nanovik.byethost31.com/blog_images//GlobalEquityMonitorTechno-FundamentalResearchbodyaus200.png"> Technical: Rallies have been well capped by 4,300 and we look for the market to roll over yet again in favor of a bearish decline towards 4,100. A break below 4,100 will then accelerate setbacks and expose 4,000 further down. Ultimately, only a daily close back above 4,315 gives reason for pause. </P>Fundamental: The RBA’s Stevens today said he sees China’s GDP surpassing Europe and matching that of the US in a decade. The comments boosted confidence in the Australian dollar, which is closely correlated to the Chinese economy, and sent the Aussie to a 10-month high versus the Yen. The gains in the Australian dollar were not yet reflected in Aussie equity markets, which saw losses today after recent gains. </P>--- Written by Joel Kruger, Technical Currency Strategist </P>To contact Joel Kruger, email jskruger@dailyfx.com. Follow me on Twitter @JoelKruger </P>To be added to Joel Kruger’s distribution list, send an email with subject line “Distribution List” to jskruger@dailyfx.com </P><br /><p><a href="http://www.dailyfx.com/forex/market_alert/2012/03/19/Global_Equity_Monitor_Techno-Fundamental_Research.html" target="_blank" rel="nofollow">View the original article here</a></p>http://forex-bulletin.blogspot.com/2012/03/global-equity-monitor-techno.htmlnoreply@blogger.com (Unknown)0