During the trading session in New York, which closed the week, the price of crude oil was found to be declining, reaching below $ 100 a barrel. More precisely, the value of oil has fallen by 4.05%, closing the week at $ 98.49 a barrel, the lowest price for 3 months now. It was, in fact, since last February 7 that oil did not reach these levels. The data is very important considering the fact that the U.S. is the largest economy in the world and the world’s largest consumer of oil.
Continue reading Crude oil prices declined in New York
Trend still very bullish on parity with our points still Friday’s high at 3250/60 which are resistances. Our advice in the morning, rumors indicate sales of central banks over 3260 with a 1.33 barrier option that would defend the area. It is clear that whenever we try to pass these levels upward, parity is sent down.
However be careful, because when the cap will jump, rising to 1.33 and above, may be rapid.
Also, vendors will sell slightly 3250/60 with stoploss above 3270 or 3285. Back on 3220/10 is currently the target. Goal that could allow also the MACD 30 mins to go bearish and perhaps return parity to 1.32 in 3180/70.
By cons, a passage over 3270/80 and especially 3295, send parity on 3320/40. Buyers will reposition to purchase over 3205 and 3180/70, with stoploss above 3195 and 3160/55.
Continue reading Technical analysis of forex market April 30,2012
The Fibonacci retracement levels allow operators to identify an area where they can open transaction. These areas are defined according to the previously mentioned Fibonacci ratio. Operators are able to understand also the time at which the market will pull back. This level can be defined as a support of Fibonacci in a market which is in up trend, or in an upward trend.
On the other hand, in a market trend indicates the term of the Fibonacci resistance level when there is a new high-level study and found with Fibonacci levels.
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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.
Continue reading Summary currencies
The USD / JPY has been moving up from last week. Is it temporary or is the beginning of a new trend given the uncertainty in Europe and efforts by the Bank of Japan to weaken the Japanese yen ?
Looking at a chart of currency pair USD / JPY we see a small upward trend. This movement has been driven by capital flows of capital into the yen Japanese as active refuge and also a sense among investors and traders that the Bank of Japan will continue to make the necessary interventions in the foreign exchange market to maintain the strength of the yen at bay. In this environment and lack of convincing plans to solve the crisis of the euro area , I think this trend of the yen will continue, unless some other catalyst appears on the market.
Continue reading USD / JPY higher, A New Trend?
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.
Continue reading The euro lost for the fourth consecutive week against the dollar
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.
Continue reading Technical analysis forex euro against the dollar October 10 to 14
New Zealand has suffered two downgrades of ratings in a few hours in the last hour, when Standard & Poor’s and Fitch cut its rating a notch in the country because of concern over its foreign debt. Fitch downgrade is the first New Zealand , the first in 13 years, and triggers a sale of the strong New Zealand dollar.
Even though bond yields are at record lows, the highest rating of risk is in addition to financing costs, which could delay the time when the Reserve Bank of New Zealand will raise rates. And ‘in fact likely that there is a delay in the decision of the country’s central bank.
Continue reading New Zealand suffered a double downgrade
We were quite optimistic yesterday about an increase in equity after the parliamentary vote confirming the German aid to Greece. But the pessimism has taken over the hand. More announcements should be made on Friday in Paris, since Nicolas Sarkozy meets with Greek Prime Minister George Papandreou to 17 hours to take stock of the crisis in the country. Our board of the morning, the macd 4 hours and 30 mins are bearish this morning the euro is now back under 1.35. For now, the trend is very bearish and only the area of media can 3480/70 dam acceleration down to 3420. The adventurous can buy these items with stoploss of 3455. But for now, it is advisable to avoid taking positions to buy as parity is not for the least- over 3550/80. We will take advantage of the high points on rebounds to reposition themselves down with stoploss of 3595 and that as long as 30 NSMM is bearish. In Above these points, we could go back to 3620/50, the points yesterday.
Continue reading Technical analysis of forex market Sept 30,2011
The trend lines are the most powerful technical analysis tools that can be used. They allow you to assess trends and their direction, to identify potential reversal levels and to evaluate where to enter the market with a low risk and high yield. It ‘so important to understand how to use forex trend lines.
These lines are basically a level of support or resistance. There is talk of dynamic lines, unlike the static, advancing and change with time. The trend line can thus be a trend upward or downward.
There are two ways to use trend lines in their trading. The first is to consider that the trend lines are a support or resistance, which is a psychological barrier that the price does not break easily. Traders expect the price touches one of these lines and to begin a reversal.
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