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Thread: Comments and Forex - Analytics from FBS Brokerage Company | Update Daily |

  1. #2801
    RBS: cable won't leave the channel
    Tuesday, November 27, 2012 - 11:42

    Specialists at RBS recommend selling GBP/USD at current levels, targeting $1.5916-1.5840 and with a stop at $1.6080.

    In their view, the top of the downside channel is a good place to sell the cable. Bearish hammer, formed yesterday, confirms this idea. Note that today investors remain indecisive even after the revised UK GDP growth remained at 1% q/q.

    Chart. Daily GBP/USD

  2. #2802
    AUD/USD growth slowed at $1.0470
    Tuesday, November 27, 2012 - 12:25

    AUD/USD tested a fresh two-month high at $1.0489 on the news that the EU officials approved the Greek aid disbursement.

    Aussie, therefore, is hovering slightly above the previous support at $1.0470 (previous November high and August 28 high). The pair is tickling the resistance line (previous support), ascending from the September lows.

    A clear fix above $1.0470 would open the way to $1.0600. Watch the $1.0535 mark (descending trendline, linking the 2011 and 2012 highs).

    On a downside the pair is supported by the daily and H4 Ichimoku Cloud, by the crossing 50- and 100-week MAs ($1.0350/35) and the 200-day MA ($1.0310).

    Support: $1.0470, $1.0437, $1.0423, $1.0400
    Resistance: $1.0500, $1.0518, $1.0535, $1.0600

    Chart. H4 AUD/USD

  3. #2803
    IG: EUR/JPY may rise to 109 yen
    Wednesday, November 28, 2012 - 06:14

    Analysts at IG Markets Securities believe that EUR/JPY may rise to 109 yen next year, which is close to 108.72 (50% retracement of the decline from 2011 high to 2012 low). The specialists say that there are 3 buying signals on the daily Ichimoku chart:

    1. Conversion line (Tenkan-sen, red on the chart) is above the base line (Kijun-sen, blue on the chart).
    2. Prices are above the Cloud,
    3. The lagging span is above the prices.

    Chart. Daily EUR/JPY

  4. #2804
    MIG Bank: sell AUD/USD on rallies
    Wednesday, November 28, 2012 - 07:18

    AUD/USD is consolidating around $1.0450. Yesterday the pair tested $1.0490, but was capped by the resistance line (previous support), ascending from the September lows.

    According to specialists at MIG Bank, AUD/USD is trading within a medium-term sideways range ($1.0177-1.0613). They recommend going short on the pair on rallies to $1.0570, with a stop at $1.0675 and the $1.0465/1.0340/1.0210 targets.

    Chart. Daily AUD/USD

  5. #2805
    JP Morgan: 2013 targets for forex majors
    Wednesday, November 28, 2012 - 07:31

    Just a piece of general knowledge. JP Morgan sees 2013 as the year of modest weakness of US dollar. The bank’s targets for 2013 are:

    EUR/USD: $1.34;

    GBP/USD: $1.63;

    USD/JPY: 79.00;

    AUD/USD: 1.07;

    NZD/USD: 0.83;

    USD/CAD: 0.9600.

  6. #2806
    ANZ: Buy NZD/CAD and NZD/JPY
    Wednesday, November 28, 2012 - 07:58

    Analysts at ANZ point out that New Zealand’s dollar tends to be rather strong in December. The specialists say it’s better to trade NZD crosses rather than NZD/USD as this way one can avoid risks associated with US fiscal cliff.

    The bank recommends buying NZD/CAD at 0.8165 targeting 0.8350 and stopping at 0.8090.

    Chart. Daily NZD/CAD

    ANZ also proposes buying NZD/JPY at 67.22 targeting 69.00 with stops at 66.70.

    Chart. Daily NZD/JPY

  7. #2807
    Commerzbank: bulls on USD/JPY
    Wednesday, November 28, 2012 - 08:50

    Specialists at Commerzbank forecast USD/JPY to jump to 85.20.

    They believe USD/JPY is developing a bullish flag pattern. The pair is currently consolidating below 78.6% Fibo retracement from the March-September decline and the 2011-2012 resistance line (82.40/83.20). A break above 82.40 would confirm the continuation of the bullish trend. The upside is likely to be contained at 85.20.

    Chart. Daily USD/JPY

  8. #2808
    FX update: European trading session
    Wednesday, November 28, 2012 - 09:45

    Spanish retail sales plunged by 9.7%. The Euro Stoxx 50 index declined by 0.5%. Greek stocks are down by more than more 5%. EUR/USD slid to $1.2910 levels. The pair is supported by the 50-day MA.

    AUD/USD is moving up, but is making every higher with difficulties, staying capped by $1.0460. NZD/USD is for now hovering above support of $0.8200.

    USD/JPY tested 81.70. USD/CHF is little changed, around 0.9310.

    GBP/USD remains slightly above the $1.6000 mark. Cable’s growth is capped by the upper boundary of the bearish channel. USD/CAD is consolidating around 0.9930 (200-period MA on the H4).

    Later today watch for US existing home sales (15:00 GMT) and the Beige book (19:00 GMT).

  9. #2809
    Australia will face recession in 2 years?
    Wednesday, November 28, 2012 - 10:16

    According to analysts at Saxo Bank, Australia has two years to strengthen the economy in order to avoid a recession. If no effective measures will be taken, the country will follow the ailing euro zone.

    For now Australian economy remains relatively stable, but certain segments of the economy are sending out worrisome signals: mines are closing, people are losing jobs, and households – their homes due to high mortgage rates.

    Specialists say RBA needs to reduce rates by 1.25 b.p. within a year in order to stimulate economic activity in Australia. The regulator has to move the Aussie down to around $0.8500.

    Asia’s richest woman and mining magnate Gina Rinehart sounds in tune with analysts: she underlines that Australia risks facing a debt crisis similar to the European one because of overspending and a loss of competitiveness.

    Image: CNBC

  10. #2810
    USD/CAD: levels & comments
    Wednesday, November 28, 2012 - 10:37

    USD/CAD breached support at 0.9990 at the beginning of the last week, after that consolidated in the narrow range above 0.9950 and then slid through this mark on Friday. This week the pair’s sitting in a 50-pip range of 0.9950/00.

    For now we expect the pair to move sideways in the 0.9900/1.0040 area and recommend limiting the trade to short-term intraday swings on risk sentiment.

    Support: 0.9920 (100-day MA), 0.9905 (yesterday’s low) and 0.9875 (November 7 minimum).

    Resistance: 0.9960, 0.9990, 1.0000.

    Scotiabank: “The most important issue for CAD traders is the juxtaposition against the BoC hawkish bias versus the Fed’s notably loose policy, including the likely expansion of QE3 in December. For near-term and medium-term positions, we are biased for USD/CAD downside (CAD strength)”.

    MIG Bank: “The underlying trend is negative; the rise from 0.9633 is a countertrend move. A medium-term resistance is at 1.0250 (July 12 high)”.

    Chart. H4 USD/CAD

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