May 16, 2012
The downtrend here is pretty strong and the focus is set at 1.2624 low before larger consolidation pattern, which will aim to correct the whole slide from 1.3282. Crucial from an intraday point of view is 1.237 resistance.
GBPJPY – Follows Through Lower, Bears Target The 126.53 Level
May 16, 2012
GBPJPY – With GBPJPY selling off and following through lower on the back of its Friday losses, the risk is for it to weaken further towards its key support located at the 126.53 level. Further down, support lies at the 125.45 level followed by the 124.50 level and then...
USDCAD – Hesitating With Downside Bias
May 16, 2012
USDCAD We continue to hold onto our downside view on USDCAD as it trades below its key resistance at the 1.0048/51 levels. While holding below here, there is risk of a relapse to the 0.9804 level, its Sept 19'2011 and the 0.9806 level. Further down, support lies at the
Forex Technical Update
May 16, 2012
EURUSD: The EUR/USD is currently trading at 1.2733 levels. Euro is trading at four months low, after Greece’s leaders failed to form a new government, thereby adding to the ongoing tensions for the country. As long as Euro region is concerned, Germany seems to be a strong economy, as...
GBP/USD Losing Further Ground, Next Target 1.59
May 16, 2012
On Tuesday Pound/Dollar decreased significantly with almost 130 pips. The Cable depreciated from 1.6115 to 1.5988 yesterday, in converse with the positive money flow sentiment at almost +12%, closing the day at 1.5991. Today the British Pound dipped further, reaching down to...
Morning Forex Technical
May 16, 2012
Bearish momentum persists and is unlikely to vanish for the time being. After penetrating supports located at 1.2830/12 and 1.2763, EUR/USD is now headed towards a subsequent level situated at 1.2645/42, where we expect the currency pair to consolidate before recommencing downward movement and resuming a journey to a...