Summary currencies

The week just ended has seen the ‘euro to remain weak against other major currencies. Our currency has arrived once again close to the minimum reached last Dec. 14 against the dollar. From there it is a bit ‘went up, but the situation is much improved. Rather, the U.S. dollar is increasingly seen as a safe haven. Moreover, considering that even the richest countries in Europe seem to be in trouble, we are talking of France, here the situation is getting worse. To this is added the fear of a global downgrading of euro area countries by rating agencies and how they can take the unknown markets.

Regarding the exchange rate between euro and dollar, next week we are attentive to any confirmation before opening a new location.
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Forecast for the week. Will there be a rebound in euro / dollar?

Euro decreased by good last week, but now is the question of whether the decline continued. The question is really very relevant, because the euro has almost reached a significant level of support that I have not written because I did not expect to decrease below 1.30 as early as this week. These are the levels of 1.2870 – 1.2850, if next week’s levels will not be punched down, and vice versa, that range from Euro draw a reversal, then we can take a good medium-term position and hold it until the end of the rollback.

If a rollback is still held, the first goal will be slightly higher than 1.32. At the same time, we can not exclude the situation that the market needed something a while to stand still. If you continue to range trade, the more likely we’ll see a corridor with the upper limit of 1.3050 – 1.3060 1.2950 bottom and, you know, it is safer shorts from the upper boundary, as We are still in a bearish trend.
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Summary currencies

The week that just ended saw a gain of important ‘in the middle of the euro itself, just on Wednesday, following the decision of the world’s major central banks to intervene and groped to give support to our currency. The euro has in fact had a large gain Wednesday, a sign that central banks’ decision to allow foreign banks to borrow money more easily, was appreciated by the markets. Our currency against the dollar, it has come up before breaking 1.3500 share. Unfortunately, this price has been kept for a short time, as investors have started to sell euro on fear of contagion and sovereign debt. Our currency has indeed closed the week down.

The exchange rate between sterling and U.S. dollar, we see exactly the same trend as that seen previously. The British pound gained against the dollar until the end of the week, then lost ground yesterday, closing at an altitude of around 1.5600. For the next week we can think of even a trend in favor of the U.S. dollar.
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The euro lost for the fourth consecutive week against the dollar

The ‘euro lost ground to the fourth week in a row, the longest streak against the dollar by 18 months, especially after the fight in Germany in an attempt to sell its bonds on Wednesday, highlighting how the crisis European debt is touching even the most fiscally strong nations.

The ‘euro fell for the third consecutive week even against the yen as a result of the fact that the rating was downgraded in Belgium. Italy and France now have to sell bonds next week.

The dollar gained against all other currencies after the supercommittee Congress failed to reach an agreement on cutting the deficit of the United States. The conditions of the foreign exchange market this week are still serious.
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Euro / dollar keeps levels. Metals are reduced

Money likes to migrate from sector to sector, from one market to another. Such a situation can be observed today. Money coming out of industrial and precious metals, but nevertheless, the European currency close day in almost the same point where it was opened.

But another important observation can be called as the fact that the quotes go from level to level, but at the current market conditions, when the trend is clear yet, better work release from the levels, rather than their breakdown. Thus it is possible to explain the current situation on the euro / dollar. The pair has found strong support at 1.3430, which was not broken today, even under the pressure of the markets. Expect that level is broken can be morning and afternoon, against the background of how the falling pound and metals, in the evening I was almost sure that the euro will be able to overcome the level of support after the sale began on the U.S. stock market. But none of that happened, today we saw raskorelyatsiyu.
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Technical analysis forex euro against the dollar October 10 to 14

Last week, we wrote “However, and as it is no reversal signal especially in 3350, it is likely that the market could continue its downward trend to move towards 1.30 and 3980/70 “and finally we were making a low of 3150 before recovering in 3520 and fall 3380 and finish on Friday night.

Always a lot of volatility in the equity and still the financial worries of Europe. Also every time the politicians reassure and that the ECB responds, there is always something new or else the situation deteriorates. Thus, Mr. Trichet after meeting market expectations in his press conference Thursday, Oct. 6, saw his efforts undermined by the deterioration of financial scores of Italy and Spain. Worse, Belgium that was previously little affected by the consequences of the crisis could see in the near future his note degraded due to the country’s political situation.
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Technical analysis forex pound sterling against the dollar October 10 to 14

Last week, we wrote “The price has consolidated last week found a point of support for 5320/30. The daily MACD is bearish, which was very gradually returned and he could send a signal down this week end. For now, it is too early to talk of reversal. But nevertheless, the parity could consolidate between the low points of the range and 1.58, which the coup could lead to a signal on the rise. “And if we do a low point in 5290, parity was quickly taken to finish on 5570 on Friday night.

The consolidation of parity last week allowed the daily macd send us an end signal of decline. It is still early to be saying that the uptrend will resume. But at least this coming week, we should not go below the lows of 5330/20.

Now remains to confirm this new direction and move to a single- above 5620 could allow us to say that the lower end and at the moment.
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Currency Analysis of October 4, 2011

EUR / USD

Trends in favor of the dollar against the euro, which is slowed by the fear of debt in the euro area, for the day today we might consider opening a long position if the value of this exchange ratio should break the upward 1.3380 share, setting the first goal at a height of 1.3390 and 1.3400 share for the second goal. If the price should continue to go down to break the downward the value of 1.3140, then we could open a short position with the first target set at 1.3120 share and 1.3100 share for the second target.

EUR / GBP

For today’s the day we open a long position if the price were to break the rising share of 0.8610, setting the first goal at a height of 0.8640 and 0.8650 share for the second goal. If the price of this exchange ratio should break to the downside 0.8520 share, then we could open a short position by fixing the first goal at a height of 0.8510 and 0.8500 share for the second goal.
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The U.S. is concerned about the euro

The dollar reached a maximum of 9 months compared to a basket of currencies in the morning today as a result of the fact that the market is in fear that the debt crisis in Europe could trigger substantial damage to the global economy. The euro hit its lowest instead of nine months against the U.S. dollar for this reason, while the Australian dollar is at its minimum of one year.

The market started the new week with more concerns than those who had so far with regard to the global financial system and the ability of European authorities to contain the growing debt of European financial system. The euro-zone finance ministers are reviewing the size of the involvement of the private sector with a second international rescue package for Greece, a move that could undermine the aid program had so far and to intensify the threat of a default in the country.
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Forex Technical Analysis of the dollar against EURO October 3 to 7,2011

Last week, we wrote “Because of this decline, remain current on the daily macd with resistance to the rise in 3580/3620 and 3420/10 on media. This week, it should continue to play these levels (3640 stoploss upward and downward 3370/55) and as we are bearish, we will pay special attention to a passage under 1.34 for 3350/20 and 1.30 area. “and finally, after some optimism due to the vote by the German parliament’s confidence in Greece, the parity is again on the decline on Friday night to end 3388.

The coming week will be mainly oriented with the ECB on Thursday, the monthly meeting and press conference Mr. Trichet. Generally, the parity tends to consolidate until Thursday and what the President of the ECB. Finally, we will finish the week by the NFP and the US unemployment rate that promise a great volatility at the beginning of the month.
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