Forex Analysis by Muhammad Kazim

[muhammad kazim]

1,5829. EUR USD is in a range between 1,5730 and 1,5900

 

[muhammad kazim]

Yen Surges as Risk Aversion Back

The Japanese yen rebounds stronger in early US session following negative open in the US stock markets

GE reported disappointing Q1 earnings which dropped 6% and that sent the DOW over 100 pts lower in the opening. Worst than expected U of Michigan consumer sentiments, which dropped to the lowest level since 1982 at 63.2 adds further weight to the stocks and extra boost to yen

 

[muhammad kazim]

G-7 Meeting On Weekend.

G7's finance ministers and central bank governors will be meeting at the IMF/World Bank Spring meeting this weekend on 12-13. Markets are expecting some discussions on coordinated actions regarding recent credit market crisis

 

[muhammad kazim]

USD/JPY's rebound from 100.02

USD/JPY's rebound from 100.02 was limited at 102.25, below trend line support turned resistance and weakens again sharply in early US session.

corrective rebound from 95.77 is still expected to end soon

On the downside, below 100.02 will suggest that fall fro 102.94 has resumed for 98.55 first. Further break will confirm that rise from 95.77 has completed and will bring retest of this low.

 

[muhammad kazim]

G7 Weekend

G7 meeting starting today. All talk and no action as usual? They are usually not able to coordinate anything, but a call for “greater flexibility

 

[muhammad kazim]

AUDUSD Trading Strategies

AUDUSD has lacked direction in the short term with several dojo's in the past 24 hours

order to buy at 0.9345 stop bid, targeting 0.9420, stop at 0.9325 offer

 

[muhammad kazim]

world economy is in crisis

G-7 continues to monitor the forex market very closely and is concern about the fluctuations in exchange rates. Most of the analysers said that these words would help to the dollar not to lose so fast against the major currency

 

[muhammad kazim]

USDCHF Analysis

USDCHF is forming a sideways consolidation in a range between 0.9870 and 102.49. As long as 0.9870 support holds

up trend to resume, and further rise to 1.0500 area to reach the next cycle top on daily chart is still in favor


Key support is at 0.9634, only break of this level will signal the resumption of the long term down trend.

 

[muhammad kazim]

AUDUSD breaks resistance

AUDUSD breaks above 0.9252 resistance and reaches as high as 0.9328. Further rally to 0.9400 area to reach the next cycle top on daily chart is still possible in the next several days. As long as 0.9496 resistance holds

 

[muhammad kazim]

USDCAD broke key support

USDCAD broke below 1.0094 key support and formed a cycle top at 1.0326 on daily chart. The up trend from 0.9709 has completed and deeper decline to retest 0.9709 support could be seen in a couple of weeks. Key resistance is located at 1.0378, only break of this level will signal the resumption of the long term up trend.