IGTFX technical analysis

[igtfx.research]

IGTFX Daily FX Report. A new month in 2010 and we expect a lot of interesting economic data around the world. Today with IGTFX we analyzed the EUR and have some news from Europe. Anyway, we wish you a good start in March.

IGTFX Market review
JPY
The JPY weakened versus its most traded counterparts on speculation that the European Union governments will rescue Greece to reduce their financial debt. IGTFX research This decreased the demand for the JPY as a refuge. The EUR advanced against the GBP after the French Finance Minister Christine Lagarde said that European governments are studying ways to assist Greece before the EU Affairs Commissioner Olli Rehn and Greek Prime Minister George Papandreou meet today. The USD traded near the lowest level in almost a week versus the AUD on speculation a report will show today that U.S. manufacturing expanded last month at a slower pace. The JPY started the week versus the EUR at the same level and traded at 121.24.IGTFX research The USD rose against the EUR to 1.3599. Furthermore against the JPY the USD increased to 89.15. IGTFX research The AUD was at 0.8959 versus the USD and the GBP continued its losses for a fourth day against the EUR to 0.8975.
The Reserve Bank of Australia will meet this week. A lot of financial experts expect that they will increase the benchmark interest rates tomorrow from 3.75% to 4.00%.

IGTFX research

IGTFX research With the ending of February, the EUR could recover from its bearish trend against the NZD and has been trading in a bullish trend. Recently, the currency pair fell to its lower Bollinger Band. In the last two weeks, whenever the EUR touched its lower Boll, the prices recovered and rose to the upper Bolls. Also the RSI may indicate an increasing trend and a continuing upward trend.

IGTFX research

As you can see the EUR has been trading in a bearish trend against the CAD since the beginning of February. With the last week in the past month, the currency pair recovered from its downward trend. But now it seems that the EUR will cross its Pivot Point from the top and may fall to its support at 1.4155. Furthermore the MACD could support a pull back with a breakthrough by the signal line.

 

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igtfx Technical Analysis Cadjpy Nzdjpy

IGTFX technical analysis:
The EUR could increase to 0.9064 versus the GBP.

The GBP weakened for a sixth day versus the USD on concern that political uncertainties will hamper efforts to reduce the U.K. financial debt situation. The USD rose to 1.4928. Furthermore against all off its other most traded counterparts, the GBP made losses and continued its weak trend. The GBP lost after polls showed that Britain may have its first minority government since 1974 and ahead of a report forecast to show that a recovery in consumer confidence stalled in February. The EUR could increase to 0.9064 versus the GBP. In the Year 2010, the GBP declined 7.6% against the USD and 2.3% versus the EUR. The AUD traded near its strongest level in a week versus the USD after the Reserve Bank of Australia raised its benchmark interest rates from 3.75% to 4.00%.

The JPY fell as the Asian stocks followed gains in the U.S. after consumer spending topped economists estimates. U.S. consumer spending rose 0.5% in January. The median forecast was for an increase of 0.4%.


CAD/JPY

IGTFX REPORT
With the ending of February, the CAD recovered from its downward movement against the JPY and started a bullish trend. Currently, the currency pair is trading near its resistance around 85.65. With its first attempt, the CAD failed to cross this level. Now it could be that the prices will rebound. IGTFX REPORT The MACD may indicate a pull back with a breakthrough of the signal line from the top in the next few days. Next support could be around 83.30.

NZD/JPY

IGTFX REPORT
As you can see, the NZD could recover from its bearish trend at the end of February versus the JPY. IGTFX REPORTS Now it remains to be seen if the currency pair will cross its important Fibonacci Retracement level at 62.53 (50%). In the middle of February as the prices crossed this level, the NZD rose to 64.58. The MA Oscillator may support a slight upward trend.

 

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IGTFX technical analysis USD PLN and AUD NZD

IGTFX technical analysis USD PLN and AUD NZD
The USD dropped for a second day versus the EUR as the most trades increased their bets that the Federal Reserve will keep its target interest rate near zero to sustain a recovery in the world`s biggest economy. IGTFX indoor The EUR rose to 1.3645. Furthermore the USD weakened against 15 of its 16 major counterparts after the Fed Bank of Dallas President Richard Fisher said the interest rates should remain low until the economy picks up, which won`t happen for some time. The JPY increased to 88.65 versus the USD after it reached 88.48. IGTFX This was the lowest level since the middle of December 2009. IGTFX indoor The EUR was unchanged and is trading at a level around 120.97 versus the JPY.

Yesterday, the interest rate futures on the Chicago Board of Trade showed a 39 % change that the Federal Reserve Bank will hold its target lending rate between zero and 0.25 %. IGTFX indoor In Europe, the Greek government will announce their cuts about 4.8 billion EUR today, due to the European pressures.
USD/PLN

IGTFX indoor Since the middle of February, the USD has been trading in a sideways trend against the PLN. During the last two weeks, whenever the currency pair reached its support level around 2.8860, the prices recovered and increased. Recently, the support was not strong enough and the market crossed it from the top. IGTFX indoor Now, it could be that the prices will continue their bearish movements. IGTFX indoor The MA Oscillator may indicate a bearish trend with a breakthrough of the signal line.
AUDNZD

With the beginning of February, IGTFX indoor the currency pair has been trading in a bullish trend channel. IGTFX indoor Yesterday, the AUD reached the upper line of the trend channel together with its Pivot point at 1.3006 and the prices rebounded. Last week, we had the same scenario and the AUD lost and crossed the lower line of the channel. IGTFX indoor Also the Momentum could support a bearish trend.

 

[igtfx.research]

Re: igtfx Technical Analysis Cadjpy Nzdjpy

http://www.igtfxnews.com/research/2-3-2010/NZDJPY.jpg

 

[igtfx.research]

IGTFX technical analysis , today we expect a lot of interesting economic data. For example the U.S. Jobless Claims. Anyway, have much success in trading today.
The NZD lost and reached 1.3080 versus the AUD .
IGTFX Market review
The USD traded near a two week low versus the EUR and reached 1.3703 on easing concerns that the European Union`s biggest budget gap will derail a regional recovery after Greece announced tax increases and deeper spending cuts. Furthermore the JPY traded near its highest level against the USD since the beginning of December 2009. IGTFX reports The USD dropped to 88.45 versus the JPY on bets the Federal Reserve will keep its benchmark interest rate near zero. The EUR weakened to 121.02 against the JPY. IGTFX reports Since the year 2000, the AUD approached its strongest level against the NZD, because investors bet on a quicker economic growth in the larger South Pacific nation. This increased the demand for the AUD. IGTFX reports The NZD lost and reached 1.3080 versus the AUD.

The Bank of England announces today, that they may keep their bond purchase plan on hold. The GBP has dropped 4 % in the past month versus the USD and 7% in this year.

USD/SEK

IGTFX reports , Since the middle of February, the USD has been trading in a slightly bearish trend channel against the SEK. Currently, the currency pair is trading in the middle of the channel. During the last two weeks, whenever the USD touched the upper or the lower line of the channel, the prices continued its bearish trend. Furthermore the MA Oscillator may indicate a following downtrend with a breakthrough by the signal line.
USD/CZK

With the beginning of February, the USD has been trading in a sideways trend versus the CZK. IGTFX reports During that time, IGTFX reports the currency pair could recover four times at its support around 18.8480. Recently, the USD has broken this support, but it seems that the prices could recover again. IGTFX reports Also the RSI indicator could support that with an increasing trend. It remains to be seen if the USD could cross its support from below today .

 

[igtfx.research]

IGTFX technical analysis At the end of the week the USD and the JPY lost against its most traded counterparts. However, we wish you a relaxed weekend.
IGTFX technical analysis At the end of the week, the JPY weakened against the USD and the EUR on speculation that the Bank of Japan will step up its credit easing measures to stave off deflation. The EUR rose versus the JPY and reached 121.34. IGTFX reports The USD fetched 89.23 against the JPY. Furthermore the JPY lost versus all off its other most traded counterparts after the JPY borrowing costs fell in London and after the Nikkei English News said that without citing anyone, the central bank will likely discuss more monetary easing measures. Also the USD lost at the end of the week against 12 of 16 major counterparts on speculation that U.S. IGTFX reports payrolls will fall less than expected by economists. IGTFX reports This increased the demand for riskier investments.IGTFX reports The EUR dropped this week 0.2% against the USD and traded at 1.3600.

IGTFX reports U.S. Jobless Claims dropped to 469,000 with the end of the last month said the Labor Department yesterday. That compared with the economists. They expected a drop about 470,000.

AUD/JPY

IGTFX reports Since the beginning of February, the AUD could recover and has been trading in a bullish trend versus the JPY. Currently, the currency pair is trading around its important Fibonacci level at 80.30 (61.8%). At the moment, the price crossed this level but it remains to be seen if the AUD could confirm its breakthrough today. IGTFX reports Furthermore a crossing MA Oscillator through the signal line from below may indicate an increasing trend.
EUR/PLN

IGTFX reports With the beginning of February, the EUR has been trading in a bearish trend versus the PLN. At the middle of the current week, the currency pair crossed its Pivot Point at 3.9177 from the top, but now it seems that the second Pivot Point at 3.8930 could be strong enough to stop the downtrend. IGTFX reports A further signal for a pull back is maybe the RSI indicator which shows us a possible recovery.

 

[igtfx.research]

IGTFX technical analysis 08-03-2010

IGTFX technical analysis , The repeatedly experience of cold and snowy weather this weekend has broken all hopes . Anyway, we hope you had a great weekend and wish you a successful trading week.

IGTFX reports The EUR gained against the USD and JPY as expectations climbed that the EU will support Greece. The EUR gained for a second day against the JPY after French President Nicolas Sarkozy said that the Euro region is ready to rescue Greece. IGTFX reports The European currency gained versus 12 of the 16 major currencies before a report today expects German industrial output climbed 1 percent in January after falling 2.6 percent the previous month. IGTFX reports The EUR/JPY reached its high at 123.80 after opening the week at 123.08 and a gain of more than 200 pips on Friday. IGTFX reports The EUR/USD gained for a second day as well. IGTFX reports The pair opened the week at 1.3619 and reached its daily-high at 1.3692.

IGTFX reports The JPY fell versus 15 of its 16 major counterparts as Asian shares extended a global stock rally, which curbed demand for the JPY as a refuge currency. IGTFX reports Today, the Nikkei 225 Stock Average headed for its biggest two-day gain in three months while the MSCI Asia Pacific Index of regional shares rose 1.6 percent. IGTFX reports The AUD/JPY climbed for a second day after touching a high at 82.50. IGTFX reports The NZD/JPY climbed to 63.45 before pulling back to 66.33.

AUD/USD

IGTFX reports As you can see, the AUD/USD has been moving along a bullish Fibonacci fan. IGTFX reports After touching the middle line of the fan during the past trading days, the market pulled back and reached the upper level of the fan, which is close to the first weekly pivot resistance. IGTFX reports While the RSI also signals an overbought market, we could expect a pullback towards the middle line of the Fibonacci fan.

USD/JPY

Since February, the USD/JPY has been moving inside a bearish pitchfork channel. IGTFX reports After the market touched the middle of the pitchfork several times, it turned back and reached the top of the fork, trading below the resistance level at 90.80. As you can see, the MACD could signal further gains for the pair. IGTFX reports as If the pair breaks the resistance of 90.80, it may continue its bullish movement.

 

[igtfx.research]

IGTFX technical analysis, welcome to our Daily FX Report. Today, we are going to report about the Pacific currencies and the Asian economic. We wish you a nice and successful trading day.

IGTFX reports The JPY gained the most in more than a week versus the EUR on expectation that Japanese companies are bringing back earnings back home before the nation’s fiscal year ends this month. IGTFX reports The Japanese currency climbed versus all the 16 major counterparts after Yi Gang, head of China’s foreign-exchange regulation said that speculative capital is flowing into the country. IGTFX reports The EUR/JPY fell to a low at 122.33 while the USD/JPY dipped to 89.88.

IGTFX reports The AUD/JPY fell the most since February 25th and reached a low at 81.59 while the NZD/JPY reached a day-low at 62.70. IGTFX reports Yesterday, the AUD traded near its strongest level in almost seven weeks against the USD as private reports showed that job vacancies jumped in February by the most in more than a decade and business confidence climbed for a second month. IGTFX reports The NZD dipped versus all the 16 major currencies after a government report showed that the nation’s consumer purchases on debit, credit and store cards fell for the first time in eight months. IGTFX reports The AUD/NZD gained to 1.3018 after it reached a high at 1.3027.

GBP/AUD

IGTFX reports As you can see, the GBP/AUD has been moving below a bearish Fibonacci fan. After touching the lower line of the fan during the end of February, the pair pulled down and reached the support level around 1.6500. If the market doesn’t break the support line around 1.6500, IGTFX reports it might pull up towards the bearish Fibonacci fan.

GBP/CAD

IGTFX reports Since the beginning of March, the GBP/CAD has been moving inside a bullish trend channel. While the Bollinger bands maz signalize a direction change, IGTFX reports the pair reached the lower line of the short term bullish trend channel for the third time. If the market will break the lower line of the channel, IGTFX reports we might be able to see further bearish movements.

 

[igtfx.research]

IGTFX technical analysis, The Chinese economic data seems to have an influence on the Japanese currency after the JPY fell against other currencies inside the Pacific region. Anyways, we wish you a nice trading day!

The JPY fell to a two-week low versus the NZD on speculation that the Japanese economic rebound will lag behind the rest of the Asia-Pacific region. The Japanese currency fell close to its deepest level in two weeks versus the AUD after a Chinese report today showed that the regions exports increased the most in three years. IGTFX demo China’s exports climbed 45.7 percent in the previous month from a year earlier. It was the third monthly increase and the biggest gain since February 2007. The figure was expected to increase just 38.3 percent, according to a survey. IGTFX demo The AUD/JPY has climbed for the fourth day in a row and rose to a high at 82.50, which was close to its highest level since February 22nd. IGTFX demo The NZD/JPY has gained to a high of 63.63, which is the highest peak since February 23rd. IGTFX demo The GBP fell versus all the 16 major currencies before a U.K. report today, is expected to show that manufacturers increased the production at a slower pace. According to a survey, the output in U.K. expended 0.2 percent in January from December. IGTFX demo The data for the month before showed an increase of 0.9 percent. IGTFX demo The GBP fell for a third day against the USD after it reached a low at 1.4957.

GBP/USD

As you can see, the GBP/USD has been trading bearish from March 8th along the Fibonacci fan and broke two retracement levels. IGTFX demo After touching the 38.20% (around 1.4940), the pair pulled up, entered the bearish Fibonacci fan, but pulled down again after it touched the middle line of the fan. IGTFX demo This might be a sign for a continuing development along the fan on IGTFX demo, which shows in the direction of the 1.4940 support level.

USD/JPY

As you can see, the USD/JPY has been trading along a bearish trend channel with a support around 88.15, including the two resistance levels around 90.70 and 92.10. IGTFX demo The “Williams’ Percent Range” as well as the IGTFX demo “Stochastic Oscillator” both may signalize a continuing movement towards the support level around 88.15.

 

[igtfx.research]

IGTFX forex We are still focused on the Asia-Pacific currencies while

economists are speculating about the reaction of the Chinese

government. IGTFX forex We hope you will enjoy it and wish you a

relaxed and successful trading day.

Market review
IGTFX forex The JPY and USD climbed against a basket of major

currencies after Chinese reports showed factories and loans fueled,

which added to be concerned about inflation in the region and the

government will act to damp more growth. IGTFX forex The speculation

about an act from the Chinese government boosted demand for low-

yielding currencies as the JPY pulled back from a twoweek low against

the EUR. IGTFX forex China’s consumer prices climbed 2.7 percent from

a year earlier in February while the Industrial output gained 20.7

percent in the first two months of the year. IGTFX forex The EUR/JPY

fell from its yesterdays high at 124.00, which was its highest peak

since February 23rd. IGTFX forex The JPY gained to a high of 123.02

versus the EUR. IGTFX forex The Japanese currency reached a dayhigh at

82.28 versus the AUD after it fell over the past four trading days. It

finally pulled back from its low at 83.32, which was the lowest level

since January 21st. The AUD fell against the USD as it has reached a

seven-week high yesterday. IGTFX forex The bad performance may be

caused by a report that published the nation’s employers added fewer

jobs than economists expected. IGTFX forex The AUD/USD fell to a low

at 0.9114 after it reached a high at 0.9193 yesterday, which was its

strongest level since January 20th.
CAD/CHF

Since February 9th, the CAD/CHF has been moving inside a bullish trend

channel and Fibonacci projection level. IGTFX forex After touching the

100% projection line around 1.0511 for the second time, the market

pulled down and reached the lower line of the trend channel. IGTFX

forex If the market could break out the bullish trend channel, it may

fall towards the lower Fibonacci levels.

CAD/JPY

Since the beginning of February, the CAD/JPY has been trading in an N

formation with a resistance point around 88.30. IGTFX forex Yesterday,

the pair has shown a small break-out through the resistance level

before coming back.IGTFX forex It depends whether the pair will show a

clearly movement along the levels. IGTFX forex If the pair will show a

strong break through the resistance around 88.30, it might continue its

bullish trend inside the channel.

 

[igtfx.research]

IGTFX technical analysis, Welcome to our Daily FX Report. We have reached Friday while we had an unpredictable and difficult trading week. IGT forex Nevertheless, we hope you had a successful one. IGT forex wishes u to Have a nice weekend.

Market review

IGT forex The JPY fell to a two-week low versus the EUR after Japanese Finance Minister Naoto Kan said that foreign-exchange intervention is always an option for the government if the currency movements are abrupt. IGT forex The JPY dipped versus all 16 major currencies after Prime Minister Yukio Hatoyama also said that the region’s government could take appropriate measures on the currency. IGT forex Another reason for the bad performance of the JPY could be the speculation that the BoJ will do a fund injection to the financial system to end deflation. IGT forex The BoJ will hold a two-day policy meeting on March 16th and 17th. According to two central bank officials, IGT forex the central bank’s easing options include an injection of 10 trillion JPY ($110 billion) to provide loans to banks. IGT forex The EUR/JPY climbed for a third day after touching a high at 124.17, IGT forex which was the highest level since February 23rd. IGT forex The USD/JPY also gained as it reached a high at 90.75, trading around the resistance level from December 04th 2009 (see report from March 10th). IGT forex The USD reached its fourth weekly gain versus the GBP before a report today is expected to show that confidence among the region’s consumers increased.

CHF/JPY

IGT forex Since February 23rd, the CHF/JPY has been moving inside the lower channel of Andrews’ Pitchfork, which starts at the beginning of February. After touching the 83.00 support level, the pair pulled up and reached the middle line of the Pitchfork. IGT forex Combined with the RSI analysis, we may expect that the middle line of the Pitchfork could give the market resistance to change the direction. IGT forex

GBP/NZD

IGT forex Since the beginning of February, the GBP has been trading along a bearish Fibonacci fan against the NZD. In addition, IGT forex we can see a resistance level around 2.1935 including a bearish trend channel, both starting at February 23rd. IGT forex We expect could a continuing bearish trend while we’ve four resistance levels above the market. IGT forex Should the pair cross over the 2.1935 resistance level, we might see a bullish trend reversal.

 

[igtfx.research]

IGTFX technical analysis, We’re proud to provide you with more important news and information related to the FOREX markets. on IGTFX mt4 We wish you a good start into the new trading week and successful trades.

Market Review – Fundamental Perspective
IGTFX mt4 The EUR started friendly into the new trading week and climbed near to a five week high versus the JPY as speculation the European Union may bail out Greece boosted demand for the 16- nation currency. IGTFX mt4 A Vienna-based newspaper reported that the Finance Ministers of the EU strapped a 55bln euro emergency package for Greece. IGTFX mt4 While the industrial output in the Euro- Zone strengthened with the strongest pace since the statistics began in 1990, IGTFX mt4 Eurostat reported Friday. IGTFX mt4 The industrial production rose 1.7 % from December. IGTFX mt4 Also the USD/JPY opened higher and rose near to a three-week high during the early Tokyo trading hours on concern that the Bank of Japan will take extra monetary-easing measures at its two-day policy meeting starting tomorrow. IGTFX mt4 Japan’s Prime Minister said last week that the government needs to stop the currency rising adding signs that the government rather the BoJ will intervene against its own currency. IGTFX mt4 “The currency is under pressure from growing expectations the Bank of Japan will ramp up quantitative easing to put an end to falling consumer prices”, said John Kyriakopouloa, head of currency strategy at National Australia Bank in Sydney.

Moody’s Investors Service told today that the U.S. as well as the U.K. moved “substantially” closer to losing their AAA credit ratings as the cost of servicing their debts rose. IGTFX mt4 Both countries will spend more on debt service this year than any other top-rated country.

New Zealand’s performance of service index climbed 0.6 points in February the Bank of New Zealand said today.

The USD declined against the CAD to the lowest level since July 2008 on speculation that the higher than expected increase in job creations lead Canada’s central bank to raise its key interest rates earlier. IGTFX mt4 Canada’s unemployment rate fell to 8.2% while economists expected 8.3%.

The NOK fell versus nine of the 16 most important counterparts after Norway’s Prime Minister pledged to curb the use of oil revenue in the 2011 budget to ensure interest rates stay low as the economy emerges from recession.
USD/JPY (4 Hour)

After the USD touched its lowest level on 4th of March the currency pair began to recover. IGTFX mt4 In order of this the USD crossed the 61.8% Fibonacci level around 90.71. IGTFX mt4 But it doesn’t seem that the bulls have enough power for further gains. IGTFX mt4 It remains to be seen if the support around 90.62 could be strong enough.

EUR/JPY (4 Hour)

Since the end of February the EUR/JPY has been trading in a bullish trend-channel and touched its resistance level around the 125.24 at last. IGTFX mt4 It seems that the currency pair may change-over in a short consolidation phase and we maybe have to allow some profit takings. IGTFX mt4 But as long as the trend-channel won’t be broken the EUR could be able to attack the 125.24 level again.

 

[igtfx.research]

IGTFX technical analysis survey stokes fears that the upcoming election may end in a minority government and strained the GBP. However, we wish you a nice and prosperous trading day.

IGFX technical analysis The GBP declined versus all of its 16 most traded counterparts and dropped against the USD the most in two weeks as a national poll showed that the U.K. may face a minority government after the upper house election this July. IGFX technical analysis The GBP/USD fell 1.1 percent to 1.5034 while the EUR/GBP rose 0.3 percent to 90.83 yesterday. IGFX technical analysis Futures traders at the CME are more bearish than ever on GBP amid concern that the currency’s worst annual start in 13 years will continue.IGFX technical analysis The bearish gamblers outnumber the bulls by eight times more than George Soros made $1bln betting against the sterling in 1992. IGFX The USD extended its gains versus the GBP during the early Asia trading hours on speculation that the Federal Reserve may eliminate its commitment to key interest rates near zero for an “extended period” at its meeting today. IGFX technical analysis The EUR/USD declined on Monday as euro-zone officials damped speculation down that the Finance Ministers will adopt a rescue strategy to bail out Greece this week. IGFX technical analysis The euro-zone still hopes that Greece’s budget cuts will make a bailout unnecessary. IGFX technical analysis
IGFX technical analysis, The CHF climbed against the EUR to its highest level in almost 17 months as a government report showed that the annual producer and import prices declined at the slowest pace in more than a year adding signs that the SNB may stop selling its own currency. IGFX technical analysis The central bank started selling a year ago to contain declining consumer prices and to prevent from a deflation.
IGFX technical analysis The AUD/JPY weakened for a second day on concern the minutes of its central bank’s March meeting will signal a slower pace to future interest rate increases after the bank already rose borrowing costs to 4 percent at its gathering.
IGFX technical analysis The demand for NZD/USD was limited on concern a U.S. IGFX technical analysis report may show that the housing starts dropped in February; raising speculation the global recovery is slowing which cuts demand for so called higher-yielding assets.IGFX technical analysis
Daily Technical Analysis from IGFX technical analysis - Our Focus Currencies for Today

GBP/USD (2 Hour)

IGFX technical analysis After the GBP broke through its short-term support as shown in our report yesterday, the currency pair declined near to the 1.5000 level. IGFX technical analysis Thus it seems unlikely to cross the overall longterm bearish trend-line rather we maybe have to allow for a continuing bearish movement near to 1.4872 if the support around the 1.5000 level won’t be strong enough.IGFX technical analysis

EUR/GBP (2 Hour)

IGFX technical analysis Since the middle of February the EUR/GBP has been trading close to a bullish trend-line and touched already its resistance around 0.9143 twice. IGFX technical analysis Now it remains to be seen if the trend could support the bulls once again to climb over the resistance around 0.9100 otherwise it may fall back near to its support around 0.9046.IGFX technical analysis

 

[igtfx.research]

IGTFX technical analysis, The Federal Reserve extended its low-borrowing-cost policy once again and higher prices for raw material affected parts of the FOREX market especially the higher yielding assets. IGTFX technical analysis Enjoy the report and have a nice trading day. IGTFX
IGTFX. The Federal Reserve kept the federal funds rate target for overnight loans between banks near zero and repeated its pledge to keep it there for an “extended period”. IGTFX The Fed also said that the emergency measures to prop up the housing market will end as planned this month. IGTFX After this decision the JPY climbed near to a one-week high versus the USD on concern the Bank of Japan will abstain from significant easing measures. IGTFX The EUR/JPY opened the Asia session higher and may head for a second winning day as the rating agency Standard & Poor’s affirmed its BBB+ long-term rather A-2 short-term credit rating for Greece. IGTFX The GBP/AUD raised more than 130 pips yesterday as U.K. stocks strengthened and a new poll eased concern that the election this year won’t produce a clear winner.IGTFX

IGTFX The CAD rose to the strongest level in almost two-years against the USD. IGTFX It climbed as much as 0.6 percent at its highest level as gold and crude oil gained. IGTFX Raw materials account about half of Canada’s export sales.

IGTFX The CHF strengthened against 12 of its 16 most active traded counterparts as the government raised its forecast for 2010 growth amid improved consumer spending. IGTFX The State Secretariat for Economic -IGTFX- Affairs said the Swiss gross domestic product may expand 1.4 percent this year. The USD/CHF declined yesterday from 1.0619 at its opening to 1.0534 at its lowest level. IGTFX

IGTFX Also the AUD gained versus the JPY as well as the USD as raw material prices increased. IGTFX The AUD/USD touched a two-month high while the AUD/JPY traded nearly unchanged around 83.00 level during the early Tokyo trading hours. IGTFX The NZD, as well a commodity-linked currency, IGTFX climbed to a six-week high against the USD yesterday but as a report showed this morning that New Zealand’s consumer confidence declined for a second quarter it came under pressure and lose some of its earlier gains. IGTFX

IGTFX Daily Technical Analysis - Our Focus Currencies for Today

USD/JPY (2 Hour)

IGTFX Since the middle of January the USD/JPY has been trading close to a bearish trend line. IGTFX After the USD reached its lowest level at the end of February the currency pair started a recovery phase close to a bullish trend-line as you can see in the picture. IGTFX A rising Momentum may indicate further bullish movements near to the resistance around 90.82. IGTFX

EUR/JPY (2 Hour)

IGTFX The EUR/JPY broke through its mid-term bearish trend-line after it fell to the 120.00 level last month and crossed the third Fibonacci fan at last. IGTFX But the falling positive DMI and an ADX at such a low level could indicate that the bulls have not enough assistance to cross the next resistance at 124.48. IGTFX If the currency pair will fail to cross it may decline near to the next support around 123.67 rather its bullish-line. IGTFX

 

[igtfx.research]

IGTFX technical analysis
It still seems that Europe’s officials can’t agree upon a rescue package for Greece and thus the FOREX market seems to react very sensitive of every new related report. However, we wish you a nice and successful trading day.

IGTFX live chat, Yesterday the EUR/USD fell from a five-week high having a spokesman for the German Chancellor Angela Merkel’s party said that Greece should go to the International Monetary Fund if it needs help and damped speculation that the European Union may adopt a rescue package for Greece. Due to the fact that Standard & Poor’s decided to left Greece credit ratings unchanged the expectations for price swings in the EUR/USD declined to a 19-month low. IGTFX live chat, The one-month volatility, used to price options, showed that traders expect movements of only 9.08 percent, the lowest level since August 2008. IGTFX live chat, After the EUR rose versus the JPY initially as the Bank of Japan extended a loan program to combat the national deflation the currency pair rebounded during the course of the day related to the most discussed topic, Greece. IGTFX live chat, The GBP rose against the USD from 1.5243 at its opening to 1.5382 at the highest level as a U.S. IGTFX live chat, report showed that the wholesale price declined in February more than expected. IGTFX live chat, The 0.6 percent decrease was the biggest since July 2009 adding signs that the U.S. inflation pressure is cooling down and may assist the Fed for its low-borrowing-cost policy.IGTFX live chat,

IGTFX live chat, The CAD expanded its gains against the USD and approaches the parity level. IGTFX live chat, The USD/CAD weakened to 1.0071, the lowest level in almost 20 months on concern that a Canadian report may show tomorrow that the consumer price index increased 0.3 percent in February.IGTFX live chat,

IGTFX live chat, The higher yielding assets AUD and NZD started friendly into the Asian session today as gains in stocks and especially in continuing gains in commodities. IGTFX live chat, Furthermore the AUD profits from so called “carry trades”. IGTFX live chat, The benchmark interest rate is 4 percent in Australia and compared with the counterparts in the U.S. rather Japan which are around 0.1 percent it seems very worthwhile for some traders.

IGTFX live chat, Daily Technical Analysis - Our Focus Currencies for Today


EUR/USD (Daily)

IGTFX live chat, After the EUR/USD traded close to a bearish trend-line from December till March it recovered and is still trading close to a young bullish trend-line. IGTFX live chat, After the currency pair crossed the bearish trend it touched its next resistance around 1.3797 but failed to cross it. IGTFX live chat, As you can see, the stochastic indicator touched the same high level as two times before which heralded strong bearish movements in the past.IGTFX live chat,

EUR/JPY (4 Hour)
IGTFX live chat, After the EUR/JPY reached its resistance at 125.06 yesterday for the second time this week it rebounded and fell near to its bullish trend-line. IGTFX live chat, This trend-line runs close to the 50% Fibonacci Fan and seems to have enough power to support the bulls. IGTFX live chat, The low level of the stochastic indicator may also suggest upcoming bullish movements. IGTFX live chat,

 

[igtfx.research]

IGTFX technical analysis,
igt fx, Speculations related to Greece’s rescue package go to the next round and it remains to be seen how long the speculation will go on until Europe may find a join solution. igt fx, However, we hope you enjoyed the first week with our expanded igt fx, Report and wish you a nice weekend.igt fx,

igt fx, Market Review – Fundamental Perspective

igt fx, The EUR weakened versus the USD to the lowest level since the 10th of March to 1.3587 as Greece’s prime minister set a one-week deadline for the European Union to set up a financial rescue package and raised fears that Greece will fail to secure financial assistance from the EU. igt fx, Also the EUR/CHF boosted its downward trend once again and declined near to its lowest level in 17 months as Jean-Pierre Danthine, a SNB Government Board member said yesterday that policy makers can’t keep borrowing costs near zero for an extended period of time and maintain purchases of foreign currencies indefinitely. igt fx, The GBP/USD recovered and compensated its Wednesday’s gains as the Federal Reserve Bank of Philadelphia economic index rose to 18.9 percent from 17.6 one month earlier, readings greater than zero indicate growth. igt fx, Foreign long- igt fx, Term investments in the USA, including setting up wholly owned subsidiaries, joint ventures and buying stakes in existing American companies decreased last year to $152.1bln from $319.7bln in 2008, a Commerce Department report showed yesterday. U.S. investments abroad fell 33 percent last year to the lowest level since 2005. igt fx, The national current account deficit narrowed to $419.9bln in 2009, the smallest since 2001, according to the Commerce Department. igt fx, The USD/JPY closed nearly unchanged at 90.45 after opening at 90.37.igt fx,

igt fx, As prices for the April delivery of crude oil declined 0.9 percent on the NYMEX the USD/CAD rebounded after a two-days winning streak near to the parity. igt fx, The USD closed on Thursday near its highest level against the CAD at 1.0141 and rose up to the 1.0152 level during the early Asia trading hours tonight.igt fx,
igt fx, The AUD/NZD headed for its biggest increase since December on speculation the interest rate gap between both nations will narrow. igt fx, The AUD fell against the NZD from 1.2932 at its opening to 1.2855 at its lowest level.
igt fx, Daily Technical Analysis - Our Focus Currencies for Today
EUR/USD (1 Hour)

igt fx, While the EUR/USD crossed its resistance around the 1.3797 level as shown in the yesterday’s report the currency pair rebounded heralded by a long packing Doji close to a bearish trend-line. igt fx, For the time being it seems that the support around 1.3597 stops the bearish movement. igt fx, The RSI may show nearly an oversold market even though the short-term moving average is still trading lower than its long-term counterpart and maybe won’t suggest a trend-reversal shortly. igt fx,

USD/JPY (4 Hour)

igt fx, After the USD traded bearish versus the JPY during the end of February it recovered close to a bullish trend-line. igt fx, Having the currency pair crossed this line and lost its support it has been trading in a bearish trend-channel mostly between the 50.0% rather 61.8% Fibonacci retracement line. igt fx, It remains to be seen if the currency pair could break through one of them, the contracting Bollinger Bands may suggest an upcoming break-out.

 

[igtfx.research]

IGTFX technical analysis
We hope you enjoyed your weekend and could start relaxed into the new trading week. Around the world speculation regarding raising interest rates affected the FOREX market.IGTFX technical analysis It seems that more and more central banks are looking for the exit of the quantitative easing policy. However, we wish you a successful trading day.IGTFX technical analysis

IGTFX technical analysis Market Review – Fundamental Perspective

IGTFX technical analysis The JPY rose against 12 of its 16 most-traded counterparts on concern the Bank of Japan may increase its key interest rates at its next meeting on April 7th. IGTFX technical analysis Some economists expect that the BoJ may end its low-borrowing-cost policy after the Reserve Bank of India unexpectedly raised its interest rates last week and on concern that also policy makers in China may follow. IGTFX technical analysis The CHF/JPY rose from 84.97 at its opening to 85.37 at its highest level during the early Asia trading session. The EUR/USD is continuing the bearish trend from last week and fell during the Tokyo trading hours to 1.3511 as on speculation that the German Chancellor let fail a summit regarding a Greece rescue package this week. IGTFX technical analysis While the most of all Euro-Zone Ministers prefer to adopt emergency measures for Greece the German Chancellor Angela Merkel may block this plan a German newspaper reported. IGTFX technical analysis Merkel told in an interview yesterday that EU leaders must not create “illusions” for markets by building expectations for Greek aid. IGTFX technical analysis The EUR/CAD fell to the lowest level since November 2007 to 1.3632 amid speculation that the Bank of Canada may also exit the low-borrowing-cost policy and could increase interest rates soon. IGTFX technical analysis The GBP tumbled against the EUR and the USD having the Bank of England policy maker Andrew Sentance said that Britain may return to recession adding signs that the BoE need to keep the interest rates at the current record low. IGTFX technical analysis Advanced economies face “acute” challenges in tackling high public debt and unwinding existing stimulus measures will not come close to bringing deficits back to prudent levels, said John Lipsky, first deputy managing director of the International Monetary Fund in a speech yesterday at the China Development Forum in Bejing. IGTFX technical analysis

IGTFX technical analysis The AUD/USD began the week bearish after it closed at 0.9154 on Friday near its previous week closing. IGTFX technical analysis The currency pair rebounded after the Reserve Bank of India increased the interest rates and on declining commodity prices. Due to the same reason the NZD/USD weakened as well. IGTFX technical analysis

IGTFX technical analysis Daily Technical Analysis - Our Focus Currencies for Today

EUR/USD (Daily)

IGTFX technical analysis Since December 2009 the EUR/USD has been trading in a bearish environment and according to our last report we saw further bearish movements on Friday. IGTFX technical analysis The chart shows a complete flag formation and may suggest continuing downward movements. IGTFX technical analysis On the other hand-site the negative DMI indicator failed to cross the 30 level and rebounded which could be an indicator for less bearish power. IGTFX technical analysis It remains to be seen if the next support around 1.3482 could stop the trend. IGTFX technical analysis

CHF/JPY (1 Hour)

IGTFX technical analysis Since the currency pair lost its support of the bullish trend-line last Thursday it traded in a trendless zigzag movement. IGTFX technical analysis If we consider the MACD indicator, which may denote that the youngest bearish movement may not have enough power to break through the support around 85.14, it maybe suggest that the CHF/JPY could confirm a new bullish trend-line. But it remains to be seen if the currency pair could cross the next resistances around 85.37 rather 85.72. IGTFX technical analysis

 

[igtfx.research]

Tuesday, March 23, 2010
IGTFX technical analysis. The CHF seems to be one of the winners of the Greece discussion and climbed to its highest level since EUR introduction in 1999. IGTFX technical analysis, However, we wish you successful trades and enjoy your day. IGTFX technical analysis,
Market Review – Fundamental Perspective IGTFX technical analysis,
The CHF climbed versus the EUR to its highest level since before the 16-nation currency was set up in 1999 as traders bet that the Swiss National Bank may relaxing its policy of selling CHF to curb its strength. The demand for the CHF as a refuge also boosted a new speculation that the Euro-Zone Ministers may deny any financial rescue measures for Greece affected the FOREX market. IGTFX technical analysis, The President of the European Central Bank, Jean-Claude Trichet, spoke out against offering low-interest loans for which the Greek government asks for while the German Chancellor Angela Merkel argues for sanctions against nations that breach the deficit limits of the Euro-Zone. IGTFX technical analysis, In the course of the day the EUR/USD recovered after three bearish trading days and rose to 1.3568 at the highest level as Luxembourg’s Jean-Claude Juncker, who heads the group of euro-region finance ministers, said that the EU will not “abandon” Greece. The GBP strengthened against 15 of its 16 most-important counterparts on Monday. IGTFX technical analysis, The EUR/GBP weakened from 0.9017 at its opening and touched the lowest level at 0.8971. IGTFX technical analysis,
The AUD and NZD decreased against the JPY on speculation that Japanese companies will bring home their overseas earnings before the fiscal year ends next week. The NZD/USD compensate its yesterday losses during the early Asia trading session on concern a report may show this week that New Zealand’s economy grew at the fastest pace since two years. IGTFX technical analysis, Economists expect that the gross domestic product may grow 3.1 percent in the year ending in March 2011. IGTFX technical analysis,
The USD/CAD extended its recovery phase after the currency pair fell last week near to the parity on speculation that the bullish CAD rally last week was too fast to be sustained. IGTFX technical analysis, The currency pair rose yesterday from 1.0166 at its opening to 1.0244 at the highest level. IGTFX technical analysis, Also the EUR climbed against the CAD after three bearish trading days as crude oil, one of the most important exports for Canada, touched a two-week low at 78.57. IGTFX technical analysis,

IGTFX technical analysis, Daily Technical Analysis (In this section we provide chart analysis)
Our Focus Currencies for Today
EUR/CHF (Daily)

IGTFX technical analysis, The EUR/CHF has been trading in a bearish environment and boosted its downward movement obviously at last. In order of that the currency pair fell to a new all-time low yesterday. IGTFX technical analysis, From a technical point of view it seems that there are currently no support levels, except the RSI indicator which could show a strongly oversold market and may suggest profit takings. IGTFX technical analysis,
IGTFX technical analysis, Intraday Support & Resistance (Daily)
Support Levels around Resistance Levels around
N/A 1.4399
N/A 1.4530
N/A 1.4646
EUR/USD (1 Hour)

IGTFX technical analysis, The currency pair rebounded yesterday from its early losses as the short-term moving average crossed the mid- rather long-term counterpart. IGTFX technical analysis, But after the EUR bulls failed to cross the resistance level around 1.3567 close to the 38.2% Fibonacci Fan line it suggests a test of the support area on the downside around 1.3539, especially in considering due to the fact that the short-term moving average tumbled again. IGTFX technical analysis,
IGTFX technical analysis, Intraday Support & Resistance (H1)
IGTFX technical analysis, Support Levels around Resistance Levels around
85.14 85.37
84.86 85.72
N/A 85.86

 

[igtfx.research]

Tuesday, March 23, 2010
IGTFX technical analysis. The CHF seems to be one of the winners of the Greece discussion and climbed to its highest level since EUR introduction in 1999. IGTFX technical analysis, However, we wish you successful trades and enjoy your day. IGTFX technical analysis,
Market Review – Fundamental Perspective IGTFX technical analysis,
The CHF climbed versus the EUR to its highest level since before the 16-nation currency was set up in 1999 as traders bet that the Swiss National Bank may relaxing its policy of selling CHF to curb its strength. The demand for the CHF as a refuge also boosted a new speculation that the Euro-Zone Ministers may deny any financial rescue measures for Greece affected the FOREX market. IGTFX technical analysis, The President of the European Central Bank, Jean-Claude Trichet, spoke out against offering low-interest loans for which the Greek government asks for while the German Chancellor Angela Merkel argues for sanctions against nations that breach the deficit limits of the Euro-Zone. IGTFX technical analysis, In the course of the day the EUR/USD recovered after three bearish trading days and rose to 1.3568 at the highest level as Luxembourg’s Jean-Claude Juncker, who heads the group of euro-region finance ministers, said that the EU will not “abandon” Greece. The GBP strengthened against 15 of its 16 most-important counterparts on Monday. IGTFX technical analysis, The EUR/GBP weakened from 0.9017 at its opening and touched the lowest level at 0.8971. IGTFX technical analysis,
The AUD and NZD decreased against the JPY on speculation that Japanese companies will bring home their overseas earnings before the fiscal year ends next week. The NZD/USD compensate its yesterday losses during the early Asia trading session on concern a report may show this week that New Zealand’s economy grew at the fastest pace since two years. IGTFX technical analysis, Economists expect that the gross domestic product may grow 3.1 percent in the year ending in March 2011. IGTFX technical analysis,
The USD/CAD extended its recovery phase after the currency pair fell last week near to the parity on speculation that the bullish CAD rally last week was too fast to be sustained. IGTFX technical analysis, The currency pair rose yesterday from 1.0166 at its opening to 1.0244 at the highest level. IGTFX technical analysis, Also the EUR climbed against the CAD after three bearish trading days as crude oil, one of the most important exports for Canada, touched a two-week low at 78.57. IGTFX technical analysis,

IGTFX technical analysis, Daily Technical Analysis (In this section we provide chart analysis)
Our Focus Currencies for Today
EUR/CHF (Daily)

IGTFX technical analysis, The EUR/CHF has been trading in a bearish environment and boosted its downward movement obviously at last. In order of that the currency pair fell to a new all-time low yesterday. IGTFX technical analysis, From a technical point of view it seems that there are currently no support levels, except the RSI indicator which could show a strongly oversold market and may suggest profit takings. IGTFX technical analysis,
IGTFX technical analysis, Intraday Support & Resistance (Daily)
Support Levels around Resistance Levels around
N/A 1.4399
N/A 1.4530
N/A 1.4646
EUR/USD (1 Hour)

IGTFX technical analysis, The currency pair rebounded yesterday from its early losses as the short-term moving average crossed the mid- rather long-term counterpart. IGTFX technical analysis, But after the EUR bulls failed to cross the resistance level around 1.3567 close to the 38.2% Fibonacci Fan line it suggests a test of the support area on the downside around 1.3539, especially in considering due to the fact that the short-term moving average tumbled again. IGTFX technical analysis,
IGTFX technical analysis, Intraday Support & Resistance (H1)
IGTFX technical analysis, Support Levels around Resistance Levels around
85.14 85.37
84.86 85.72
N/A 85.86

 

[igtfx.research]

IGTFX technical analysis, Maybe the discussions related to financial measures for Greece come to an end and the 16 euronations may find a joint solution for the worst-case scenario if Greece couldn’t get enough liquidity at the market to refinance their payable debts.IGTFX , However, we wish you a nice day and successful trades.IGTFX technical analysis
Market Review – Fundamental Perspective

IGTFX , The EUR slid against the USD to a 10-month low as Fitch Ratings downgraded Portugal’s credit grade to AA- with a negative outlook. IGTFX , The 16-nation currency also weakened against 12 of its 16 most-traded counterparts after French and German leaders agreed any Greek financial measures would require help from the International Monetary Fund. IGTFX , The EUR/CHF keep on moving near its all-time low on concern the Swiss National Bank is abandoning a policy of curbing the CHF gains. IGTFX , “Right now it’s uncertain whether Greece will get bailed out and by whom.IGTFX , ” This, coupled with Portugal’s downgrade, has everyone moving away from the EUR”, a currency strategist said yesterday. The GBP/USD tumbled as the IGTFX , U.K. IGTFX , government published the budget-plan for 2010/2011 which showed that the deficit will widen to 11.8% of the GDP. The currency pair fell to 1.4864 at its lowest level after opening at 1.5048.IGTFX ,

IGTFX , The USD/NOK climbed from 5.9433 at its opening to 6.0413 at its closing as the Norwegian central bank decided to maintain its key interest rates at 175bps at its meeting today.IGTFX ,

IGTFX , The CAD declined against the USD as the Bank of Canada Governor, Mark Carney, reiterated that the commitment to keep interest rates at a record low through June “is expressly conditional on the outlook for inflation”. IGTFX , Furthermore falling crude oil prices put pressure on the CAD. IGTFX , The price for the May contract delivery fell by 1.8%, crude oil is the most important export of Canada.IGTFX ,

IGTFX , New Zealand’s gross domestic product rose 0.8% from the previous three months as consumer spending, manufacturing and house construction increased in the last quarter of 2009, a report showed today in Wellington. IGTFX , It was the fastest pace in two years and more than economists expected. IGTFX , After the NZD/USD dropped yesterday from 0.7075 to 0.7020 the currency pair started friendly in the Asia session and recovered to 0.7035.IGTFX ,
IGTFX , Daily Technical Analysis - Our Focus Currencies for Today
EUR/USD (Daily)

IGTFX , On a long-term view the EUR/USD has been trading in a bearish trend-channel since November 2009 and seems to completing the second bearish flag-formation. In order to this, the currency pair crossed the 28.6% Fibonacci retracement line around 1.3411 and lost its support. IGTFX , Also the MACD indicator may denote further bearish movements. On the other hand-side the falling negative DMI may indicate less power on the downside.IGTFX ,

IGTFX , Intraday Support & Resistance (Daily)Support Levels around IGTFX , Resistance Levels around
1.3243 1.3411
1.3113 1.3743
N/A 1.4011
EUR/CHF (1 Hour)

IGTFX , The EUR/CHF has been trading close to a bearish trend-line and touched a new all-time low this week. IGTFX , At this low level it seems that the currency pair tries to build a new basement and rebounded near to the first bearish trend-line. IGTFX , The short-term moving average (yellow-line) reversed once again and if it could cross its long-term counterpart it may herald further bearish movements. IGTFX , On the other hand-site the Stochastic could suggest increasing bull’s power.IGTFX ,



IGTFX , Intraday Support & Resistance (H1)Support Levels around Resistance Levels around
1.4260 1.4292
1.4234 1.4303
N/A 1.4329
IGTFX