Yesterday's forex signals economic releases were robust, beating objectives for the most part. Markets in Asia and Europe responded favorably purchasing higher yielding assets - equities, commodities and commodities linked foreign currencies such as CAD, AUD, MXN, and ZAR whilst adding pressure on the United states dollar. When the US traders came to work, the mood soured slightly as unrest in Middle East and Africa spurred some risk aversion.
New high for the Canadian Dollar was attained at 0.9684 following the major support point that held from February 2008 at 0.9710 had been breached. Now, November '07 levels at 0.9059 will be the next major support, or around seven hundred pips more of a conceivable move lower for the USD. Silver hit 34.50 and that is the highest during the last three decades.
Today on tap the ADP Non-Farm Employment Change report at 13:15 GMT. Targets are for 178,000 increase in February following 187,000 increased private jobs in The month of january. A disappointment will more than likely deliver a boost in risk aversion. Also, the Fed Chairman, Ben Bernanke, will finish his testimony before the Senate Banking Committee. Any sort of hint on raising the interest rate in the US, improbable, will send the USD soaring. Below is our forex signals currency trading views.
EUR/USD is technically neutral to negative. A pull back to 20-day MA, or the mid Bolli band, at 1.3659 is seemingly on the cards. The shrinking Bolli band signifies a approaching break-out. If the 1.3659 will crack, an added move down to the 1.3500 area is probable.
Sterling looks weaker against the USD. Bearish upside down hammer print on the candlesticks yesterdays, in addition to the RSI and MACD trending down bodes nicely with regard to strong bullish case for the USD. The 1st target for the GBP bears will be the mid-Bolli band at 1.6146, a crack will target February 28 low at 1.6072.
After a substantial and violent drop from 0.9958 on February 23rd to 0.9684 low yesterday, an astonishing 3% move or practically three hundred pips in merely five forex trading days could possibly generate some profit taking and a recovery for the USD/CAD. Nonetheless, overall structure remains bearish with the CAD bulls targeting 0.9665, the decreasing channel base. Really aggressive and patient CAD bulls will be looking at a move to the November 2007 lows of 0.9059.
New high for the Canadian Dollar was attained at 0.9684 following the major support point that held from February 2008 at 0.9710 had been breached. Now, November '07 levels at 0.9059 will be the next major support, or around seven hundred pips more of a conceivable move lower for the USD. Silver hit 34.50 and that is the highest during the last three decades.
Today on tap the ADP Non-Farm Employment Change report at 13:15 GMT. Targets are for 178,000 increase in February following 187,000 increased private jobs in The month of january. A disappointment will more than likely deliver a boost in risk aversion. Also, the Fed Chairman, Ben Bernanke, will finish his testimony before the Senate Banking Committee. Any sort of hint on raising the interest rate in the US, improbable, will send the USD soaring. Below is our forex signals currency trading views.
EUR/USD is technically neutral to negative. A pull back to 20-day MA, or the mid Bolli band, at 1.3659 is seemingly on the cards. The shrinking Bolli band signifies a approaching break-out. If the 1.3659 will crack, an added move down to the 1.3500 area is probable.
Sterling looks weaker against the USD. Bearish upside down hammer print on the candlesticks yesterdays, in addition to the RSI and MACD trending down bodes nicely with regard to strong bullish case for the USD. The 1st target for the GBP bears will be the mid-Bolli band at 1.6146, a crack will target February 28 low at 1.6072.
After a substantial and violent drop from 0.9958 on February 23rd to 0.9684 low yesterday, an astonishing 3% move or practically three hundred pips in merely five forex trading days could possibly generate some profit taking and a recovery for the USD/CAD. Nonetheless, overall structure remains bearish with the CAD bulls targeting 0.9665, the decreasing channel base. Really aggressive and patient CAD bulls will be looking at a move to the November 2007 lows of 0.9059.
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