Currency futures round up after FOMC
With the FOMC meeting now consigned to history, and the currency markets now returning to ‘business as usual’ here is a round up for the Aussie, the British pound, the Canadian dollar and of course the euro
Pound
GBPUSD Forecast July 10, 2014, Technical Analysis
The GBPUSD pair initially fell during the session on Wednesday, but as you can see we bounced yet again in order to form a hammer. This market simply looks like it does not want to fall, and as a result we feel that the buyers are certainly still in control even though the market has struggled to take off at this point.
GBPUSD Forecast July 2, 2014, Technical Analysis
The GBPUSD pair continued its bullish move on Tuesday, breaking above the 1.7150 level. The action from the Tuesday session suggests that the market is in fact going to continue going higher, as we try to get to the 1.75 level.
Where next for the US dollar?
Following continued bullish momentum for many of the major currency pairs, these are now approaching key technical levels, which if breached could prove to be the tipping points for some sustained and longer term trends to develop.
Cable preparing to test 1,6800 once more
The last few days have once again seen Cable test the 1.6800 region, only to fail and reverse once more, with the June futures contract currently trading at 1.6710 on the daily chart. Following the strong gains of last week, which saw the pair surge higher with three wide spread up candles, the first sign of possible short term weakness appeared on Thursday with the doji candle.
GBPUSD Daily Analysis – April 3, 2014
GBPUSD remains in uptrend from 1.6465, the fall from 1.6684 is likely consolidation of the uptrend.
GBP/USD Forecast February 28, 2014, Technical Analysis
The GBP/USD pair fell during the session on Thursday, only to turn back around and form a hammer for the second day in a row.
Short-Term Daily Forex Analysis – August 19, 2013
USDJPY failed to break above the resistance of the downward trend line on 4-hour chart, and pulled back from 98.64, suggesting that the pair remains in downtrend from 101.53. Further decline would likely be seen, and next target would be at 96.00 area. Key resistance is located at the trend line, only a clear break above the trend line resistance could signal completion of the downtrend.
Euro pound struggles to break higher
The EUR/GBP continued to struggle at the 0.8750 area once again yesterday, ending the trading session with a doji candle, sending a clear signal of indecision at this level, which has been duly validated in this morning’s early trading session, with the pair retreating lower, and moving back below the 0.8700 region at the time of writing.
Euro Clears Previous Weekly High to Expose Fresh Upside Towards 1.2800
Markets are off to a positive start in the early week, with two key developments over the weekend seen as the primary drivers for the initial surge in risk correlated assets. The news that EU assistance to the Spanish banking sector in the amount of Eur100B has well exceeded estimates of most analysts, while Chinese data was not as bad as many had feared. Both of these developments have resulted in a market rally driven by the expectation that the global economy will continue to be supported by proponomics.
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