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Thread: Igtfx technical analysis

  1. #1

    Default Igtfx technical analysis

    welcome to IGTFX Daily FX Report. A new month in 2010 and we expect a lot of interesting economic data around the world. Today with IGTFX we analyzed the EUR and have some news from Europe. Anyway, we wish you a good start in March.

    IGTFX Market review
    JPY
    The JPY weakened versus its most traded counterparts on speculation that the European Union governments will rescue Greece to reduce their financial debt. IGTFX research This decreased the demand for the JPY as a refuge. The EUR advanced against the GBP after the French Finance Minister Christine Lagarde said that European governments are studying ways to assist Greece before the EU Affairs Commissioner Olli Rehn and Greek Prime Minister George Papandreou meet today. The USD traded near the lowest level in almost a week versus the AUD on speculation a report will show today that U.S. manufacturing expanded last month at a slower pace. The JPY started the week versus the EUR at the same level and traded at 121.24.IGTFX research The USD rose against the EUR to 1.3599. Furthermore against the JPY the USD increased to 89.15. IGTFX research The AUD was at 0.8959 versus the USD and the GBP continued its losses for a fourth day against the EUR to 0.8975.
    The Reserve Bank of Australia will meet this week. A lot of financial experts expect that they will increase the benchmark interest rates tomorrow from 3.75% to 4.00%.


    IGTFX research

    IGTFX research With the ending of February, the EUR could recover from its bearish trend against the NZD and has been trading in a bullish trend. Recently, the currency pair fell to its lower Bollinger Band. In the last two weeks, whenever the EUR touched its lower Boll, the prices recovered and rose to the upper Bolls. Also the RSI may indicate an increasing trend and a continuing upward trend.


    IGTFX research

    As you can see the EUR has been trading in a bearish trend against the CAD since the beginning of February. With the last week in the past month, the currency pair recovered from its downward trend. But now it seems that the EUR will cross its Pivot Point from the top and may fall to its support at 1.4155. Furthermore the MACD could support a pull back with a breakthrough by the signal line.

  2. #2

    Default Igtfx Technical Analysis Cadjpy Nzdjpy

    IGTFX technical analysis:
    The EUR could increase to 0.9064 versus the GBP.

    The GBP weakened for a sixth day versus the USD on concern that political uncertainties will hamper efforts to reduce the U.K. financial debt situation. The USD rose to 1.4928. Furthermore against all off its other most traded counterparts, the GBP made losses and continued its weak trend. The GBP lost after polls showed that Britain may have its first minority government since 1974 and ahead of a report forecast to show that a recovery in consumer confidence stalled in February. The EUR could increase to 0.9064 versus the GBP. In the Year 2010, the GBP declined 7.6% against the USD and 2.3% versus the EUR. The AUD traded near its strongest level in a week versus the USD after the Reserve Bank of Australia raised its benchmark interest rates from 3.75% to 4.00%.

    The JPY fell as the Asian stocks followed gains in the U.S. after consumer spending topped economists estimates. U.S. consumer spending rose 0.5% in January. The median forecast was for an increase of 0.4%.


    CAD/JPY

    IGTFX REPORT
    With the ending of February, the CAD recovered from its downward movement against the JPY and started a bullish trend. Currently, the currency pair is trading near its resistance around 85.65. With its first attempt, the CAD failed to cross this level. Now it could be that the prices will rebound. IGTFX REPORT The MACD may indicate a pull back with a breakthrough of the signal line from the top in the next few days. Next support could be around 83.30.

    NZD/JPY

    IGTFX REPORT
    As you can see, the NZD could recover from its bearish trend at the end of February versus the JPY. IGTFX REPORTS Now it remains to be seen if the currency pair will cross its important Fibonacci Retracement level at 62.53 (50%). In the middle of February as the prices crossed this level, the NZD rose to 64.58. The MA Oscillator may support a slight upward trend.

  3. #3

    Default IGTFX technical analysis USD PLN and AUD NZD

    IGTFX technical analysis USD PLN and AUD NZD
    The USD dropped for a second day versus the EUR as the most trades increased their bets that the Federal Reserve will keep its target interest rate near zero to sustain a recovery in the world`s biggest economy. IGTFX indoor The EUR rose to 1.3645. Furthermore the USD weakened against 15 of its 16 major counterparts after the Fed Bank of Dallas President Richard Fisher said the interest rates should remain low until the economy picks up, which won`t happen for some time. The JPY increased to 88.65 versus the USD after it reached 88.48. IGTFX This was the lowest level since the middle of December 2009. IGTFX indoor The EUR was unchanged and is trading at a level around 120.97 versus the JPY.

    Yesterday, the interest rate futures on the Chicago Board of Trade showed a 39 % change that the Federal Reserve Bank will hold its target lending rate between zero and 0.25 %. IGTFX indoor In Europe, the Greek government will announce their cuts about 4.8 billion EUR today, due to the European pressures.
    USD/PLN

    IGTFX indoor Since the middle of February, the USD has been trading in a sideways trend against the PLN. During the last two weeks, whenever the currency pair reached its support level around 2.8860, the prices recovered and increased. Recently, the support was not strong enough and the market crossed it from the top. IGTFX indoor Now, it could be that the prices will continue their bearish movements. IGTFX indoor The MA Oscillator may indicate a bearish trend with a breakthrough of the signal line.
    AUDNZD

    With the beginning of February, IGTFX indoor the currency pair has been trading in a bullish trend channel. IGTFX indoor Yesterday, the AUD reached the upper line of the trend channel together with its Pivot point at 1.3006 and the prices rebounded. Last week, we had the same scenario and the AUD lost and crossed the lower line of the channel. IGTFX indoor Also the Momentum could support a bearish trend.

  4. #4

    Default IGTFX technical analysis

    IGTFX technical analysis , today we expect a lot of interesting economic data. For example the U.S. Jobless Claims. Anyway, have much success in trading today.
    The NZD lost and reached 1.3080 versus the AUD .
    IGTFX Market review
    The USD traded near a two week low versus the EUR and reached 1.3703 on easing concerns that the European Union`s biggest budget gap will derail a regional recovery after Greece announced tax increases and deeper spending cuts. Furthermore the JPY traded near its highest level against the USD since the beginning of December 2009. IGTFX reports The USD dropped to 88.45 versus the JPY on bets the Federal Reserve will keep its benchmark interest rate near zero. The EUR weakened to 121.02 against the JPY. IGTFX reports Since the year 2000, the AUD approached its strongest level against the NZD, because investors bet on a quicker economic growth in the larger South Pacific nation. This increased the demand for the AUD. IGTFX reports The NZD lost and reached 1.3080 versus the AUD.

    The Bank of England announces today, that they may keep their bond purchase plan on hold. The GBP has dropped 4 % in the past month versus the USD and 7% in this year.

    USD/SEK

    IGTFX reports , Since the middle of February, the USD has been trading in a slightly bearish trend channel against the SEK. Currently, the currency pair is trading in the middle of the channel. During the last two weeks, whenever the USD touched the upper or the lower line of the channel, the prices continued its bearish trend. Furthermore the MA Oscillator may indicate a following downtrend with a breakthrough by the signal line.
    USD/CZK

    With the beginning of February, the USD has been trading in a sideways trend versus the CZK. IGTFX reports During that time, IGTFX reports the currency pair could recover four times at its support around 18.8480. Recently, the USD has broken this support, but it seems that the prices could recover again. IGTFX reports Also the RSI indicator could support that with an increasing trend. It remains to be seen if the USD could cross its support from below today .

  5. #5

    Default IGTFX technical analysis

    IGTFX technical analysis At the end of the week the USD and the JPY lost against its most traded counterparts. However, we wish you a relaxed weekend.
    IGTFX technical analysis At the end of the week, the JPY weakened against the USD and the EUR on speculation that the Bank of Japan will step up its credit easing measures to stave off deflation. The EUR rose versus the JPY and reached 121.34. IGTFX reports The USD fetched 89.23 against the JPY. Furthermore the JPY lost versus all off its other most traded counterparts after the JPY borrowing costs fell in London and after the Nikkei English News said that without citing anyone, the central bank will likely discuss more monetary easing measures. Also the USD lost at the end of the week against 12 of 16 major counterparts on speculation that U.S. IGTFX reports payrolls will fall less than expected by economists. IGTFX reports This increased the demand for riskier investments.IGTFX reports The EUR dropped this week 0.2% against the USD and traded at 1.3600.

    IGTFX reports U.S. Jobless Claims dropped to 469,000 with the end of the last month said the Labor Department yesterday. That compared with the economists. They expected a drop about 470,000.

    AUD/JPY

    IGTFX reports Since the beginning of February, the AUD could recover and has been trading in a bullish trend versus the JPY. Currently, the currency pair is trading around its important Fibonacci level at 80.30 (61.8%). At the moment, the price crossed this level but it remains to be seen if the AUD could confirm its breakthrough today. IGTFX reports Furthermore a crossing MA Oscillator through the signal line from below may indicate an increasing trend.
    EUR/PLN

    IGTFX reports With the beginning of February, the EUR has been trading in a bearish trend versus the PLN. At the middle of the current week, the currency pair crossed its Pivot Point at 3.9177 from the top, but now it seems that the second Pivot Point at 3.8930 could be strong enough to stop the downtrend. IGTFX reports A further signal for a pull back is maybe the RSI indicator which shows us a possible recovery.

  6. #6

    Default IGTFX technical analysis 08-03-2010

    IGTFX technical analysis , The repeatedly experience of cold and snowy weather this weekend has broken all hopes . Anyway, we hope you had a great weekend and wish you a successful trading week.

    IGTFX reports The EUR gained against the USD and JPY as expectations climbed that the EU will support Greece. The EUR gained for a second day against the JPY after French President Nicolas Sarkozy said that the Euro region is ready to rescue Greece. IGTFX reports The European currency gained versus 12 of the 16 major currencies before a report today expects German industrial output climbed 1 percent in January after falling 2.6 percent the previous month. IGTFX reports The EUR/JPY reached its high at 123.80 after opening the week at 123.08 and a gain of more than 200 pips on Friday. IGTFX reports The EUR/USD gained for a second day as well. IGTFX reports The pair opened the week at 1.3619 and reached its daily-high at 1.3692.

    IGTFX reports The JPY fell versus 15 of its 16 major counterparts as Asian shares extended a global stock rally, which curbed demand for the JPY as a refuge currency. IGTFX reports Today, the Nikkei 225 Stock Average headed for its biggest two-day gain in three months while the MSCI Asia Pacific Index of regional shares rose 1.6 percent. IGTFX reports The AUD/JPY climbed for a second day after touching a high at 82.50. IGTFX reports The NZD/JPY climbed to 63.45 before pulling back to 66.33.

    AUD/USD

    IGTFX reports As you can see, the AUD/USD has been moving along a bullish Fibonacci fan. IGTFX reports After touching the middle line of the fan during the past trading days, the market pulled back and reached the upper level of the fan, which is close to the first weekly pivot resistance. IGTFX reports While the RSI also signals an overbought market, we could expect a pullback towards the middle line of the Fibonacci fan.

    USD/JPY

    Since February, the USD/JPY has been moving inside a bearish pitchfork channel. IGTFX reports After the market touched the middle of the pitchfork several times, it turned back and reached the top of the fork, trading below the resistance level at 90.80. As you can see, the MACD could signal further gains for the pair. IGTFX reports as If the pair breaks the resistance of 90.80, it may continue its bullish movement.

  7. #7

    Default IGTFX technical analysis

    IGTFX technical analysis, welcome to our Daily FX Report. Today, we are going to report about the Pacific currencies and the Asian economic. We wish you a nice and successful trading day.

    IGTFX reports The JPY gained the most in more than a week versus the EUR on expectation that Japanese companies are bringing back earnings back home before the nation’s fiscal year ends this month. IGTFX reports The Japanese currency climbed versus all the 16 major counterparts after Yi Gang, head of China’s foreign-exchange regulation said that speculative capital is flowing into the country. IGTFX reports The EUR/JPY fell to a low at 122.33 while the USD/JPY dipped to 89.88.

    IGTFX reports The AUD/JPY fell the most since February 25th and reached a low at 81.59 while the NZD/JPY reached a day-low at 62.70. IGTFX reports Yesterday, the AUD traded near its strongest level in almost seven weeks against the USD as private reports showed that job vacancies jumped in February by the most in more than a decade and business confidence climbed for a second month. IGTFX reports The NZD dipped versus all the 16 major currencies after a government report showed that the nation’s consumer purchases on debit, credit and store cards fell for the first time in eight months. IGTFX reports The AUD/NZD gained to 1.3018 after it reached a high at 1.3027.

    GBP/AUD

    IGTFX reports As you can see, the GBP/AUD has been moving below a bearish Fibonacci fan. After touching the lower line of the fan during the end of February, the pair pulled down and reached the support level around 1.6500. If the market doesn’t break the support line around 1.6500, IGTFX reports it might pull up towards the bearish Fibonacci fan.

    GBP/CAD

    IGTFX reports Since the beginning of March, the GBP/CAD has been moving inside a bullish trend channel. While the Bollinger bands maz signalize a direction change, IGTFX reports the pair reached the lower line of the short term bullish trend channel for the third time. If the market will break the lower line of the channel, IGTFX reports we might be able to see further bearish movements.

  8. #8

    Default IGTFX technical analysis

    IGTFX technical analysis, The Chinese economic data seems to have an influence on the Japanese currency after the JPY fell against other currencies inside the Pacific region. Anyways, we wish you a nice trading day!

    The JPY fell to a two-week low versus the NZD on speculation that the Japanese economic rebound will lag behind the rest of the Asia-Pacific region. The Japanese currency fell close to its deepest level in two weeks versus the AUD after a Chinese report today showed that the regions exports increased the most in three years. IGTFX demo China’s exports climbed 45.7 percent in the previous month from a year earlier. It was the third monthly increase and the biggest gain since February 2007. The figure was expected to increase just 38.3 percent, according to a survey. IGTFX demo The AUD/JPY has climbed for the fourth day in a row and rose to a high at 82.50, which was close to its highest level since February 22nd. IGTFX demo The NZD/JPY has gained to a high of 63.63, which is the highest peak since February 23rd. IGTFX demo The GBP fell versus all the 16 major currencies before a U.K. report today, is expected to show that manufacturers increased the production at a slower pace. According to a survey, the output in U.K. expended 0.2 percent in January from December. IGTFX demo The data for the month before showed an increase of 0.9 percent. IGTFX demo The GBP fell for a third day against the USD after it reached a low at 1.4957.

    GBP/USD

    As you can see, the GBP/USD has been trading bearish from March 8th along the Fibonacci fan and broke two retracement levels. IGTFX demo After touching the 38.20% (around 1.4940), the pair pulled up, entered the bearish Fibonacci fan, but pulled down again after it touched the middle line of the fan. IGTFX demo This might be a sign for a continuing development along the fan on IGTFX demo, which shows in the direction of the 1.4940 support level.

    USD/JPY

    As you can see, the USD/JPY has been trading along a bearish trend channel with a support around 88.15, including the two resistance levels around 90.70 and 92.10. IGTFX demo The “Williams’ Percent Range” as well as the IGTFX demo “Stochastic Oscillator” both may signalize a continuing movement towards the support level around 88.15.

  9. #9

    Default IGTFX technical analysis

    IGTFX forex We are still focused on the Asia-Pacific currencies while

    economists are speculating about the reaction of the Chinese

    government. IGTFX forex We hope you will enjoy it and wish you a

    relaxed and successful trading day.

    Market review
    IGTFX forex The JPY and USD climbed against a basket of major

    currencies after Chinese reports showed factories and loans fueled,

    which added to be concerned about inflation in the region and the

    government will act to damp more growth. IGTFX forex The speculation

    about an act from the Chinese government boosted demand for low-

    yielding currencies as the JPY pulled back from a twoweek low against

    the EUR. IGTFX forex China’s consumer prices climbed 2.7 percent from

    a year earlier in February while the Industrial output gained 20.7

    percent in the first two months of the year. IGTFX forex The EUR/JPY

    fell from its yesterdays high at 124.00, which was its highest peak

    since February 23rd. IGTFX forex The JPY gained to a high of 123.02

    versus the EUR. IGTFX forex The Japanese currency reached a dayhigh at

    82.28 versus the AUD after it fell over the past four trading days. It

    finally pulled back from its low at 83.32, which was the lowest level

    since January 21st. The AUD fell against the USD as it has reached a

    seven-week high yesterday. IGTFX forex The bad performance may be

    caused by a report that published the nation’s employers added fewer

    jobs than economists expected. IGTFX forex The AUD/USD fell to a low

    at 0.9114 after it reached a high at 0.9193 yesterday, which was its

    strongest level since January 20th.
    CAD/CHF

    Since February 9th, the CAD/CHF has been moving inside a bullish trend

    channel and Fibonacci projection level. IGTFX forex After touching the

    100% projection line around 1.0511 for the second time, the market

    pulled down and reached the lower line of the trend channel. IGTFX

    forex If the market could break out the bullish trend channel, it may

    fall towards the lower Fibonacci levels.

    CAD/JPY

    Since the beginning of February, the CAD/JPY has been trading in an N

    formation with a resistance point around 88.30. IGTFX forex Yesterday,

    the pair has shown a small break-out through the resistance level

    before coming back.IGTFX forex It depends whether the pair will show a

    clearly movement along the levels. IGTFX forex If the pair will show a

    strong break through the resistance around 88.30, it might continue its

    bullish trend inside the channel.

  10. #10

    Default IGTFX technical analysis

    IGTFX technical analysis, Welcome to our Daily FX Report. We have reached Friday while we had an unpredictable and difficult trading week. IGT forex Nevertheless, we hope you had a successful one. IGT forex wishes u to Have a nice weekend.

    Market review

    IGT forex The JPY fell to a two-week low versus the EUR after Japanese Finance Minister Naoto Kan said that foreign-exchange intervention is always an option for the government if the currency movements are abrupt. IGT forex The JPY dipped versus all 16 major currencies after Prime Minister Yukio Hatoyama also said that the region’s government could take appropriate measures on the currency. IGT forex Another reason for the bad performance of the JPY could be the speculation that the BoJ will do a fund injection to the financial system to end deflation. IGT forex The BoJ will hold a two-day policy meeting on March 16th and 17th. According to two central bank officials, IGT forex the central bank’s easing options include an injection of 10 trillion JPY ($110 billion) to provide loans to banks. IGT forex The EUR/JPY climbed for a third day after touching a high at 124.17, IGT forex which was the highest level since February 23rd. IGT forex The USD/JPY also gained as it reached a high at 90.75, trading around the resistance level from December 04th 2009 (see report from March 10th). IGT forex The USD reached its fourth weekly gain versus the GBP before a report today is expected to show that confidence among the region’s consumers increased.

    CHF/JPY

    IGT forex Since February 23rd, the CHF/JPY has been moving inside the lower channel of Andrews’ Pitchfork, which starts at the beginning of February. After touching the 83.00 support level, the pair pulled up and reached the middle line of the Pitchfork. IGT forex Combined with the RSI analysis, we may expect that the middle line of the Pitchfork could give the market resistance to change the direction. IGT forex

    GBP/NZD

    IGT forex Since the beginning of February, the GBP has been trading along a bearish Fibonacci fan against the NZD. In addition, IGT forex we can see a resistance level around 2.1935 including a bearish trend channel, both starting at February 23rd. IGT forex We expect could a continuing bearish trend while we’ve four resistance levels above the market. IGT forex Should the pair cross over the 2.1935 resistance level, we might see a bullish trend reversal.
    Last edited by igtfx.research; 03-12-2010 at 12:44.

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