Language:
Forex News07 Feb 17:07 - GBPUSD For the third day in succession investors have failed to sustain any significant gains or losses with all trading consolidating within Wednesday's parameters (1.5694-1.5884), indecisive Inside Day's. Although investors enthusiasm to buy dips has resulted in the bias being mildly positive, a break of 1.5831 (trend of lower 07 Feb 16:57 - Key resistance area for EUR/USD at 1.3250/80 is expected to halt near-term rallies. In case it is breached, further levels at 1.3436 and 1.3627 will be targeted by the pair. Dips should be limited by a support situated at 1.3000. 07 Feb 16:56 - On Monday Pound/Dollar traded within 110 pip range. The Cable appreciated from 1.5729 to 1.5842 yesterday, in line with the positive Interbank sentiment at nearly +45%, closing the day at 1.5815. Today the British Pound is trading quietly, with movements at the upper end of yesterday's range for the time 07 Feb 16:00 - SMA 50 continued representing a hard technical obstacle that prevents the pair from collapsing as seen on the provided daily chart. We added Keltner channel to our graph where we can see how trading is stable below the middle line of the indicator. Meanwhile, Stochastic and OsMA remain negative; thus, 07 Feb 15:36 - Contrary to the expectations of many market experts, the Australian Central Bank did not cut its key interest rate to 4 percent from 4.25 percent and leading heads of the Reserve Bank expressed their optimism regarding a global economic recovery. As a result, the AUD experienced a boost and enforced 07 Feb 15:17 - The pair was able to settle on SMA 50 and then rebounded to the upside to resume trading within the ascending correctional channel shown above, where we expect the pair to extend the upside move over intraday basis, targeting mainly 23.6% Fibonacci correction at 122.25 and then 124.25. The negativity 07 Feb 15:05 - The EURUSD had another indecisive movement yesterday. Price attempted to push lower, bottomed at 1.3027 but further bearish pressure was rejected, closed higher at 1.3117. There are no changes in my technical outlook. The bias remains neutral in nearest term with potential range area between 1.3240 – 1.3000/25. We need 07 Feb 14:48 - The Daily Chart of the AUD/NZD shows that the market had achieved a range breakout target at 1.2835 last week. This was also the pivot and high during Sept. 2011. A min-bounce occurred, but as we can see in the daily chart, the market is respecting the previous consolidation support 07 Feb 14:40 - On Monday Euro/Dollar decreased with 150 pips on prolonged Greek issue. The European currency depreciated from 1.3175 to 1.3027 yesterday, not matching the positive Interbank sentiment projection at over +1%, closing the day at 1.3128. This morning the Euro is trading quietly, moving within yesterday's range for now. On the 07 Feb 14:38 - EUR/USD Today's support: - 1.3050, 1.3038, 1.3002 and 1.2974(main), where correction is possible. Break would give 1.2949, where correction also may be. Then follows 1.2907. Break of the latter would result in 1.2874. If a strong impulse, we would see 1.2857. Continuation will give 1.2831. |
  
 |