IGTFX technical analysis

[igtfx.research]

IGTFX technical analysis
We hope you enjoyed your weekend and could start relaxed into the new trading week. Around the world speculation regarding raising interest rates affected the FOREX market.IGTFX technical analysis It seems that more and more central banks are looking for the exit of the quantitative easing policy. However, we wish you a successful trading day.IGTFX technical analysis

IGTFX technical analysis Market Review – Fundamental Perspective

IGTFX technical analysis The JPY rose against 12 of its 16 most-traded counterparts on concern the Bank of Japan may increase its key interest rates at its next meeting on April 7th. IGTFX technical analysis Some economists expect that the BoJ may end its low-borrowing-cost policy after the Reserve Bank of India unexpectedly raised its interest rates last week and on concern that also policy makers in China may follow. IGTFX technical analysis The CHF/JPY rose from 84.97 at its opening to 85.37 at its highest level during the early Asia trading session. The EUR/USD is continuing the bearish trend from last week and fell during the Tokyo trading hours to 1.3511 as on speculation that the German Chancellor let fail a summit regarding a Greece rescue package this week. IGTFX technical analysis While the most of all Euro-Zone Ministers prefer to adopt emergency measures for Greece the German Chancellor Angela Merkel may block this plan a German newspaper reported. IGTFX technical analysis Merkel told in an interview yesterday that EU leaders must not create “illusions” for markets by building expectations for Greek aid. IGTFX technical analysis The EUR/CAD fell to the lowest level since November 2007 to 1.3632 amid speculation that the Bank of Canada may also exit the low-borrowing-cost policy and could increase interest rates soon. IGTFX technical analysis The GBP tumbled against the EUR and the USD having the Bank of England policy maker Andrew Sentance said that Britain may return to recession adding signs that the BoE need to keep the interest rates at the current record low. IGTFX technical analysis Advanced economies face “acute” challenges in tackling high public debt and unwinding existing stimulus measures will not come close to bringing deficits back to prudent levels, said John Lipsky, first deputy managing director of the International Monetary Fund in a speech yesterday at the China Development Forum in Bejing. IGTFX technical analysis

IGTFX technical analysis The AUD/USD began the week bearish after it closed at 0.9154 on Friday near its previous week closing. IGTFX technical analysis The currency pair rebounded after the Reserve Bank of India increased the interest rates and on declining commodity prices. Due to the same reason the NZD/USD weakened as well. IGTFX technical analysis

IGTFX technical analysis Daily Technical Analysis - Our Focus Currencies for Today

EUR/USD (Daily)

IGTFX technical analysis Since December 2009 the EUR/USD has been trading in a bearish environment and according to our last report we saw further bearish movements on Friday. IGTFX technical analysis The chart shows a complete flag formation and may suggest continuing downward movements. IGTFX technical analysis On the other hand-site the negative DMI indicator failed to cross the 30 level and rebounded which could be an indicator for less bearish power. IGTFX technical analysis It remains to be seen if the next support around 1.3482 could stop the trend. IGTFX technical analysis

CHF/JPY (1 Hour)

IGTFX technical analysis Since the currency pair lost its support of the bullish trend-line last Thursday it traded in a trendless zigzag movement. IGTFX technical analysis If we consider the MACD indicator, which may denote that the youngest bearish movement may not have enough power to break through the support around 85.14, it maybe suggest that the CHF/JPY could confirm a new bullish trend-line. But it remains to be seen if the currency pair could cross the next resistances around 85.37 rather 85.72. IGTFX technical analysis

 

[igtfx.research]

IGTFX technical analysis
We hope you enjoyed your weekend and could start relaxed into the new trading week. Around the world speculation regarding raising interest rates affected the FOREX market.IGTFX technical analysis It seems that more and more central banks are looking for the exit of the quantitative easing policy. However, we wish you a successful trading day.IGTFX technical analysis

IGTFX technical analysis Market Review – Fundamental Perspective

IGTFX technical analysis The JPY rose against 12 of its 16 most-traded counterparts on concern the Bank of Japan may increase its key interest rates at its next meeting on April 7th. IGTFX technical analysis Some economists expect that the BoJ may end its low-borrowing-cost policy after the Reserve Bank of India unexpectedly raised its interest rates last week and on concern that also policy makers in China may follow. IGTFX technical analysis The CHF/JPY rose from 84.97 at its opening to 85.37 at its highest level during the early Asia trading session. The EUR/USD is continuing the bearish trend from last week and fell during the Tokyo trading hours to 1.3511 as on speculation that the German Chancellor let fail a summit regarding a Greece rescue package this week. IGTFX technical analysis While the most of all Euro-Zone Ministers prefer to adopt emergency measures for Greece the German Chancellor Angela Merkel may block this plan a German newspaper reported. IGTFX technical analysis Merkel told in an interview yesterday that EU leaders must not create “illusions” for markets by building expectations for Greek aid. IGTFX technical analysis The EUR/CAD fell to the lowest level since November 2007 to 1.3632 amid speculation that the Bank of Canada may also exit the low-borrowing-cost policy and could increase interest rates soon. IGTFX technical analysis The GBP tumbled against the EUR and the USD having the Bank of England policy maker Andrew Sentance said that Britain may return to recession adding signs that the BoE need to keep the interest rates at the current record low. IGTFX technical analysis Advanced economies face “acute” challenges in tackling high public debt and unwinding existing stimulus measures will not come close to bringing deficits back to prudent levels, said John Lipsky, first deputy managing director of the International Monetary Fund in a speech yesterday at the China Development Forum in Bejing. IGTFX technical analysis

IGTFX technical analysis The AUD/USD began the week bearish after it closed at 0.9154 on Friday near its previous week closing. IGTFX technical analysis The currency pair rebounded after the Reserve Bank of India increased the interest rates and on declining commodity prices. Due to the same reason the NZD/USD weakened as well. IGTFX technical analysis

IGTFX technical analysis Daily Technical Analysis - Our Focus Currencies for Today

EUR/USD (Daily)

IGTFX technical analysis Since December 2009 the EUR/USD has been trading in a bearish environment and according to our last report we saw further bearish movements on Friday. IGTFX technical analysis The chart shows a complete flag formation and may suggest continuing downward movements. IGTFX technical analysis On the other hand-site the negative DMI indicator failed to cross the 30 level and rebounded which could be an indicator for less bearish power. IGTFX technical analysis It remains to be seen if the next support around 1.3482 could stop the trend. IGTFX technical analysis

CHF/JPY (1 Hour)

IGTFX technical analysis Since the currency pair lost its support of the bullish trend-line last Thursday it traded in a trendless zigzag movement. IGTFX technical analysis If we consider the MACD indicator, which may denote that the youngest bearish movement may not have enough power to break through the support around 85.14, it maybe suggest that the CHF/JPY could confirm a new bullish trend-line. But it remains to be seen if the currency pair could cross the next resistances around 85.37 rather 85.72. IGTFX technical analysis

 

[igtfx.research]

Tuesday, March 23, 2010
IGTFX technical analysis. The CHF seems to be one of the winners of the Greece discussion and climbed to its highest level since EUR introduction in 1999. IGTFX technical analysis, However, we wish you successful trades and enjoy your day. IGTFX technical analysis,
Market Review – Fundamental Perspective IGTFX technical analysis,
The CHF climbed versus the EUR to its highest level since before the 16-nation currency was set up in 1999 as traders bet that the Swiss National Bank may relaxing its policy of selling CHF to curb its strength. The demand for the CHF as a refuge also boosted a new speculation that the Euro-Zone Ministers may deny any financial rescue measures for Greece affected the FOREX market. IGTFX technical analysis, The President of the European Central Bank, Jean-Claude Trichet, spoke out against offering low-interest loans for which the Greek government asks for while the German Chancellor Angela Merkel argues for sanctions against nations that breach the deficit limits of the Euro-Zone. IGTFX technical analysis, In the course of the day the EUR/USD recovered after three bearish trading days and rose to 1.3568 at the highest level as Luxembourg’s Jean-Claude Juncker, who heads the group of euro-region finance ministers, said that the EU will not “abandon” Greece. The GBP strengthened against 15 of its 16 most-important counterparts on Monday. IGTFX technical analysis, The EUR/GBP weakened from 0.9017 at its opening and touched the lowest level at 0.8971. IGTFX technical analysis,
The AUD and NZD decreased against the JPY on speculation that Japanese companies will bring home their overseas earnings before the fiscal year ends next week. The NZD/USD compensate its yesterday losses during the early Asia trading session on concern a report may show this week that New Zealand’s economy grew at the fastest pace since two years. IGTFX technical analysis, Economists expect that the gross domestic product may grow 3.1 percent in the year ending in March 2011. IGTFX technical analysis,
The USD/CAD extended its recovery phase after the currency pair fell last week near to the parity on speculation that the bullish CAD rally last week was too fast to be sustained. IGTFX technical analysis, The currency pair rose yesterday from 1.0166 at its opening to 1.0244 at the highest level. IGTFX technical analysis, Also the EUR climbed against the CAD after three bearish trading days as crude oil, one of the most important exports for Canada, touched a two-week low at 78.57. IGTFX technical analysis,

IGTFX technical analysis, Daily Technical Analysis (In this section we provide chart analysis)
Our Focus Currencies for Today
EUR/CHF (Daily)

IGTFX technical analysis, The EUR/CHF has been trading in a bearish environment and boosted its downward movement obviously at last. In order of that the currency pair fell to a new all-time low yesterday. IGTFX technical analysis, From a technical point of view it seems that there are currently no support levels, except the RSI indicator which could show a strongly oversold market and may suggest profit takings. IGTFX technical analysis,
IGTFX technical analysis, Intraday Support & Resistance (Daily)
Support Levels around Resistance Levels around
N/A 1.4399
N/A 1.4530
N/A 1.4646
EUR/USD (1 Hour)

IGTFX technical analysis, The currency pair rebounded yesterday from its early losses as the short-term moving average crossed the mid- rather long-term counterpart. IGTFX technical analysis, But after the EUR bulls failed to cross the resistance level around 1.3567 close to the 38.2% Fibonacci Fan line it suggests a test of the support area on the downside around 1.3539, especially in considering due to the fact that the short-term moving average tumbled again. IGTFX technical analysis,
IGTFX technical analysis, Intraday Support & Resistance (H1)
IGTFX technical analysis, Support Levels around Resistance Levels around
85.14 85.37
84.86 85.72
N/A 85.86

 

[igtfx.research]

Tuesday, March 23, 2010
IGTFX technical analysis. The CHF seems to be one of the winners of the Greece discussion and climbed to its highest level since EUR introduction in 1999. IGTFX technical analysis, However, we wish you successful trades and enjoy your day. IGTFX technical analysis,
Market Review – Fundamental Perspective IGTFX technical analysis,
The CHF climbed versus the EUR to its highest level since before the 16-nation currency was set up in 1999 as traders bet that the Swiss National Bank may relaxing its policy of selling CHF to curb its strength. The demand for the CHF as a refuge also boosted a new speculation that the Euro-Zone Ministers may deny any financial rescue measures for Greece affected the FOREX market. IGTFX technical analysis, The President of the European Central Bank, Jean-Claude Trichet, spoke out against offering low-interest loans for which the Greek government asks for while the German Chancellor Angela Merkel argues for sanctions against nations that breach the deficit limits of the Euro-Zone. IGTFX technical analysis, In the course of the day the EUR/USD recovered after three bearish trading days and rose to 1.3568 at the highest level as Luxembourg’s Jean-Claude Juncker, who heads the group of euro-region finance ministers, said that the EU will not “abandon” Greece. The GBP strengthened against 15 of its 16 most-important counterparts on Monday. IGTFX technical analysis, The EUR/GBP weakened from 0.9017 at its opening and touched the lowest level at 0.8971. IGTFX technical analysis,
The AUD and NZD decreased against the JPY on speculation that Japanese companies will bring home their overseas earnings before the fiscal year ends next week. The NZD/USD compensate its yesterday losses during the early Asia trading session on concern a report may show this week that New Zealand’s economy grew at the fastest pace since two years. IGTFX technical analysis, Economists expect that the gross domestic product may grow 3.1 percent in the year ending in March 2011. IGTFX technical analysis,
The USD/CAD extended its recovery phase after the currency pair fell last week near to the parity on speculation that the bullish CAD rally last week was too fast to be sustained. IGTFX technical analysis, The currency pair rose yesterday from 1.0166 at its opening to 1.0244 at the highest level. IGTFX technical analysis, Also the EUR climbed against the CAD after three bearish trading days as crude oil, one of the most important exports for Canada, touched a two-week low at 78.57. IGTFX technical analysis,

IGTFX technical analysis, Daily Technical Analysis (In this section we provide chart analysis)
Our Focus Currencies for Today
EUR/CHF (Daily)

IGTFX technical analysis, The EUR/CHF has been trading in a bearish environment and boosted its downward movement obviously at last. In order of that the currency pair fell to a new all-time low yesterday. IGTFX technical analysis, From a technical point of view it seems that there are currently no support levels, except the RSI indicator which could show a strongly oversold market and may suggest profit takings. IGTFX technical analysis,
IGTFX technical analysis, Intraday Support & Resistance (Daily)
Support Levels around Resistance Levels around
N/A 1.4399
N/A 1.4530
N/A 1.4646
EUR/USD (1 Hour)

IGTFX technical analysis, The currency pair rebounded yesterday from its early losses as the short-term moving average crossed the mid- rather long-term counterpart. IGTFX technical analysis, But after the EUR bulls failed to cross the resistance level around 1.3567 close to the 38.2% Fibonacci Fan line it suggests a test of the support area on the downside around 1.3539, especially in considering due to the fact that the short-term moving average tumbled again. IGTFX technical analysis,
IGTFX technical analysis, Intraday Support & Resistance (H1)
IGTFX technical analysis, Support Levels around Resistance Levels around
85.14 85.37
84.86 85.72
N/A 85.86

 

[igtfx.research]

Tuesday, March 23, 2010
IGTFX technical analysis. The CHF seems to be one of the winners of the Greece discussion and climbed to its highest level since EUR introduction in 1999. IGTFX technical analysis, However, we wish you successful trades and enjoy your day. IGTFX technical analysis,
Market Review – Fundamental Perspective IGTFX technical analysis,
The CHF climbed versus the EUR to its highest level since before the 16-nation currency was set up in 1999 as traders bet that the Swiss National Bank may relaxing its policy of selling CHF to curb its strength. The demand for the CHF as a refuge also boosted a new speculation that the Euro-Zone Ministers may deny any financial rescue measures for Greece affected the FOREX market. IGTFX technical analysis, The President of the European Central Bank, Jean-Claude Trichet, spoke out against offering low-interest loans for which the Greek government asks for while the German Chancellor Angela Merkel argues for sanctions against nations that breach the deficit limits of the Euro-Zone. IGTFX technical analysis, In the course of the day the EUR/USD recovered after three bearish trading days and rose to 1.3568 at the highest level as Luxembourg’s Jean-Claude Juncker, who heads the group of euro-region finance ministers, said that the EU will not “abandon” Greece. The GBP strengthened against 15 of its 16 most-important counterparts on Monday. IGTFX technical analysis, The EUR/GBP weakened from 0.9017 at its opening and touched the lowest level at 0.8971. IGTFX technical analysis,
The AUD and NZD decreased against the JPY on speculation that Japanese companies will bring home their overseas earnings before the fiscal year ends next week. The NZD/USD compensate its yesterday losses during the early Asia trading session on concern a report may show this week that New Zealand’s economy grew at the fastest pace since two years. IGTFX technical analysis, Economists expect that the gross domestic product may grow 3.1 percent in the year ending in March 2011. IGTFX technical analysis,
The USD/CAD extended its recovery phase after the currency pair fell last week near to the parity on speculation that the bullish CAD rally last week was too fast to be sustained. IGTFX technical analysis, The currency pair rose yesterday from 1.0166 at its opening to 1.0244 at the highest level. IGTFX technical analysis, Also the EUR climbed against the CAD after three bearish trading days as crude oil, one of the most important exports for Canada, touched a two-week low at 78.57. IGTFX technical analysis,

IGTFX technical analysis, Daily Technical Analysis (In this section we provide chart analysis)
Our Focus Currencies for Today
EUR/CHF (Daily)

IGTFX technical analysis, The EUR/CHF has been trading in a bearish environment and boosted its downward movement obviously at last. In order of that the currency pair fell to a new all-time low yesterday. IGTFX technical analysis, From a technical point of view it seems that there are currently no support levels, except the RSI indicator which could show a strongly oversold market and may suggest profit takings. IGTFX technical analysis,
IGTFX technical analysis, Intraday Support & Resistance (Daily)
Support Levels around Resistance Levels around
N/A 1.4399
N/A 1.4530
N/A 1.4646
EUR/USD (1 Hour)

IGTFX technical analysis, The currency pair rebounded yesterday from its early losses as the short-term moving average crossed the mid- rather long-term counterpart. IGTFX technical analysis, But after the EUR bulls failed to cross the resistance level around 1.3567 close to the 38.2% Fibonacci Fan line it suggests a test of the support area on the downside around 1.3539, especially in considering due to the fact that the short-term moving average tumbled again. IGTFX technical analysis,
IGTFX technical analysis, Intraday Support & Resistance (H1)
IGTFX technical analysis, Support Levels around Resistance Levels around
85.14 85.37
84.86 85.72
N/A 85.86

 

[igtfx.research]

Tuesday, March 23, 2010
IGTFX technical analysis. The CHF seems to be one of the winners of the Greece discussion and climbed to its highest level since EUR introduction in 1999. IGTFX technical analysis, However, we wish you successful trades and enjoy your day. IGTFX technical analysis,
Market Review – Fundamental Perspective IGTFX technical analysis,
The CHF climbed versus the EUR to its highest level since before the 16-nation currency was set up in 1999 as traders bet that the Swiss National Bank may relaxing its policy of selling CHF to curb its strength. The demand for the CHF as a refuge also boosted a new speculation that the Euro-Zone Ministers may deny any financial rescue measures for Greece affected the FOREX market. IGTFX technical analysis, The President of the European Central Bank, Jean-Claude Trichet, spoke out against offering low-interest loans for which the Greek government asks for while the German Chancellor Angela Merkel argues for sanctions against nations that breach the deficit limits of the Euro-Zone. IGTFX technical analysis, In the course of the day the EUR/USD recovered after three bearish trading days and rose to 1.3568 at the highest level as Luxembourg’s Jean-Claude Juncker, who heads the group of euro-region finance ministers, said that the EU will not “abandon” Greece. The GBP strengthened against 15 of its 16 most-important counterparts on Monday. IGTFX technical analysis, The EUR/GBP weakened from 0.9017 at its opening and touched the lowest level at 0.8971. IGTFX technical analysis,
The AUD and NZD decreased against the JPY on speculation that Japanese companies will bring home their overseas earnings before the fiscal year ends next week. The NZD/USD compensate its yesterday losses during the early Asia trading session on concern a report may show this week that New Zealand’s economy grew at the fastest pace since two years. IGTFX technical analysis, Economists expect that the gross domestic product may grow 3.1 percent in the year ending in March 2011. IGTFX technical analysis,
The USD/CAD extended its recovery phase after the currency pair fell last week near to the parity on speculation that the bullish CAD rally last week was too fast to be sustained. IGTFX technical analysis, The currency pair rose yesterday from 1.0166 at its opening to 1.0244 at the highest level. IGTFX technical analysis, Also the EUR climbed against the CAD after three bearish trading days as crude oil, one of the most important exports for Canada, touched a two-week low at 78.57. IGTFX technical analysis,

IGTFX technical analysis, Daily Technical Analysis (In this section we provide chart analysis)
Our Focus Currencies for Today
EUR/CHF (Daily)

IGTFX technical analysis, The EUR/CHF has been trading in a bearish environment and boosted its downward movement obviously at last. In order of that the currency pair fell to a new all-time low yesterday. IGTFX technical analysis, From a technical point of view it seems that there are currently no support levels, except the RSI indicator which could show a strongly oversold market and may suggest profit takings. IGTFX technical analysis,
IGTFX technical analysis, Intraday Support & Resistance (Daily)
Support Levels around Resistance Levels around
N/A 1.4399
N/A 1.4530
N/A 1.4646
EUR/USD (1 Hour)

IGTFX technical analysis, The currency pair rebounded yesterday from its early losses as the short-term moving average crossed the mid- rather long-term counterpart. IGTFX technical analysis, But after the EUR bulls failed to cross the resistance level around 1.3567 close to the 38.2% Fibonacci Fan line it suggests a test of the support area on the downside around 1.3539, especially in considering due to the fact that the short-term moving average tumbled again. IGTFX technical analysis,
IGTFX technical analysis, Intraday Support & Resistance (H1)
IGTFX technical analysis, Support Levels around Resistance Levels around
85.14 85.37
84.86 85.72
N/A 85.86

 

[igtfx.research]

IGTFX technical analysis, Maybe the discussions related to financial measures for Greece come to an end and the 16 euronations may find a joint solution for the worst-case scenario if Greece couldn’t get enough liquidity at the market to refinance their payable debts.IGTFX , However, we wish you a nice day and successful trades.IGTFX technical analysis
Market Review – Fundamental Perspective

IGTFX , The EUR slid against the USD to a 10-month low as Fitch Ratings downgraded Portugal’s credit grade to AA- with a negative outlook. IGTFX , The 16-nation currency also weakened against 12 of its 16 most-traded counterparts after French and German leaders agreed any Greek financial measures would require help from the International Monetary Fund. IGTFX , The EUR/CHF keep on moving near its all-time low on concern the Swiss National Bank is abandoning a policy of curbing the CHF gains. IGTFX , “Right now it’s uncertain whether Greece will get bailed out and by whom.IGTFX , ” This, coupled with Portugal’s downgrade, has everyone moving away from the EUR”, a currency strategist said yesterday. The GBP/USD tumbled as the IGTFX , U.K. IGTFX , government published the budget-plan for 2010/2011 which showed that the deficit will widen to 11.8% of the GDP. The currency pair fell to 1.4864 at its lowest level after opening at 1.5048.IGTFX ,

IGTFX , The USD/NOK climbed from 5.9433 at its opening to 6.0413 at its closing as the Norwegian central bank decided to maintain its key interest rates at 175bps at its meeting today.IGTFX ,

IGTFX , The CAD declined against the USD as the Bank of Canada Governor, Mark Carney, reiterated that the commitment to keep interest rates at a record low through June “is expressly conditional on the outlook for inflation”. IGTFX , Furthermore falling crude oil prices put pressure on the CAD. IGTFX , The price for the May contract delivery fell by 1.8%, crude oil is the most important export of Canada.IGTFX ,

IGTFX , New Zealand’s gross domestic product rose 0.8% from the previous three months as consumer spending, manufacturing and house construction increased in the last quarter of 2009, a report showed today in Wellington. IGTFX , It was the fastest pace in two years and more than economists expected. IGTFX , After the NZD/USD dropped yesterday from 0.7075 to 0.7020 the currency pair started friendly in the Asia session and recovered to 0.7035.IGTFX ,
IGTFX , Daily Technical Analysis - Our Focus Currencies for Today
EUR/USD (Daily)

IGTFX , On a long-term view the EUR/USD has been trading in a bearish trend-channel since November 2009 and seems to completing the second bearish flag-formation. In order to this, the currency pair crossed the 28.6% Fibonacci retracement line around 1.3411 and lost its support. IGTFX , Also the MACD indicator may denote further bearish movements. On the other hand-side the falling negative DMI may indicate less power on the downside.IGTFX ,

IGTFX , Intraday Support & Resistance (Daily)Support Levels around IGTFX , Resistance Levels around
1.3243 1.3411
1.3113 1.3743
N/A 1.4011
EUR/CHF (1 Hour)

IGTFX , The EUR/CHF has been trading close to a bearish trend-line and touched a new all-time low this week. IGTFX , At this low level it seems that the currency pair tries to build a new basement and rebounded near to the first bearish trend-line. IGTFX , The short-term moving average (yellow-line) reversed once again and if it could cross its long-term counterpart it may herald further bearish movements. IGTFX , On the other hand-site the Stochastic could suggest increasing bull’s power.IGTFX ,



IGTFX , Intraday Support & Resistance (H1)Support Levels around Resistance Levels around
1.4260 1.4292
1.4234 1.4303
N/A 1.4329
IGTFX

 

[igtfx.research]

IGTFX technical analysis, Maybe the discussions related to financial measures for Greece come to an end and the 16 euronations may find a joint solution for the worst-case scenario if Greece couldn’t get enough liquidity at the market to refinance their payable debts.IGTFX , However, we wish you a nice day and successful trades.IGTFX technical analysis
Market Review – Fundamental Perspective

IGTFX , The EUR slid against the USD to a 10-month low as Fitch Ratings downgraded Portugal’s credit grade to AA- with a negative outlook. IGTFX , The 16-nation currency also weakened against 12 of its 16 most-traded counterparts after French and German leaders agreed any Greek financial measures would require help from the International Monetary Fund. IGTFX , The EUR/CHF keep on moving near its all-time low on concern the Swiss National Bank is abandoning a policy of curbing the CHF gains. IGTFX , “Right now it’s uncertain whether Greece will get bailed out and by whom.IGTFX , ” This, coupled with Portugal’s downgrade, has everyone moving away from the EUR”, a currency strategist said yesterday. The GBP/USD tumbled as the IGTFX , U.K. IGTFX , government published the budget-plan for 2010/2011 which showed that the deficit will widen to 11.8% of the GDP. The currency pair fell to 1.4864 at its lowest level after opening at 1.5048.IGTFX ,

IGTFX , The USD/NOK climbed from 5.9433 at its opening to 6.0413 at its closing as the Norwegian central bank decided to maintain its key interest rates at 175bps at its meeting today.IGTFX ,

IGTFX , The CAD declined against the USD as the Bank of Canada Governor, Mark Carney, reiterated that the commitment to keep interest rates at a record low through June “is expressly conditional on the outlook for inflation”. IGTFX , Furthermore falling crude oil prices put pressure on the CAD. IGTFX , The price for the May contract delivery fell by 1.8%, crude oil is the most important export of Canada.IGTFX ,

IGTFX , New Zealand’s gross domestic product rose 0.8% from the previous three months as consumer spending, manufacturing and house construction increased in the last quarter of 2009, a report showed today in Wellington. IGTFX , It was the fastest pace in two years and more than economists expected. IGTFX , After the NZD/USD dropped yesterday from 0.7075 to 0.7020 the currency pair started friendly in the Asia session and recovered to 0.7035.IGTFX ,
IGTFX , Daily Technical Analysis - Our Focus Currencies for Today
EUR/USD (Daily)

IGTFX , On a long-term view the EUR/USD has been trading in a bearish trend-channel since November 2009 and seems to completing the second bearish flag-formation. In order to this, the currency pair crossed the 28.6% Fibonacci retracement line around 1.3411 and lost its support. IGTFX , Also the MACD indicator may denote further bearish movements. On the other hand-side the falling negative DMI may indicate less power on the downside.IGTFX ,

IGTFX , Intraday Support & Resistance (Daily)Support Levels around IGTFX , Resistance Levels around
1.3243 1.3411
1.3113 1.3743
N/A 1.4011
EUR/CHF (1 Hour)

IGTFX , The EUR/CHF has been trading close to a bearish trend-line and touched a new all-time low this week. IGTFX , At this low level it seems that the currency pair tries to build a new basement and rebounded near to the first bearish trend-line. IGTFX , The short-term moving average (yellow-line) reversed once again and if it could cross its long-term counterpart it may herald further bearish movements. IGTFX , On the other hand-site the Stochastic could suggest increasing bull’s power.IGTFX ,



IGTFX , Intraday Support & Resistance (H1)Support Levels around Resistance Levels around
1.4260 1.4292
1.4234 1.4303
N/A 1.4329
IGTFX

 

[igtfx.research]

IGTFX IGTFX technical analysis , The EU leaders found a joint solution for Greece debt difficulties at a summit on Thursday evening finally. IGTFX IGTFX It remains to be seen if that would help to stabilize the EUR. IGTFX However, we wish you a successful trading day and have a nice weekend. IGTFX

IGTFX Market Review – IGTFX Fundamental Perspective

IGTFX Before the EU summit yesterday evening the EUR extended its losses versus the USD touching its lowest level at 1.3268. IGTFX Weeks of speculation and uncertainty how the euro-nations could help Greece for the case of illiquidity came yesterday evening to an end as the leaders of all 16-euronations endorsed a joint proposal of France and Germany for a mix of IMF and bilateral loans. IGTFX , Each country would provide non-subsidized loans to Greece based on its stake in the ECB, a statement said. IGTFX , Altogether Europe would provide more than half the loans and the International Monetary Fund brings the rest. IGTFX , Nevertheless the loans will only be paid if Greece has no more options at the market to refinance its debts. IGTFX , Every euro-nation needs to validate this fact and have a veto. IGTFX , After the summit the EUR rose versus 14 of its 16 most-traded counterparts as Jean-Claude Trichet, President of the ECB said that he was “happy” that the region found a solution. IGTFX , The EUR/JPY gained yesterday for the second day to 123.90 at the highest level while the EUR/GBP closed nearly unchanged at 0.8961. IGTFX , The JPY strengthened from a 10-month low against the USD on speculation that Japanese exporters took advantage of its largest weekly loss this year to purchase the currency before the fiscal year will ends next week. IGTFX , Japan’s consumer prices declined for the 12th month in February, the statistic bureau in Tokyo said today. Prices excluding fresh food slid 1.2 percent from a year earlier. The GBP/USD declined as U.K. IGTFX , Chancellor of the Exchequer Alistair Darling said that the revised down his growth forecast for 2011, in line with the Bank of England forecast. IGTFX ,
IGTFX , The NZD climbed versus the JPY as the national trade surplus widened in February after rising commodity prices and a seasonal increase in farm production stoked exports. IGTFX , The AUD/USD heading for the first weekly loss this month and traded near the lowest level since March 9th on concern the Greece rescue package may curb demand for the so called higher yielding assets. IGTFX ,

IGTFX , Daily Technical Analysis - IGTFX , Our Focus Currencies for Today


EUR/USD (1 Hour)

IGTFX , During the Europe session the currency pair fell near to its daily support level around 1.3243, as shown in the report yesterday, before the EUR/USD recovered in the late U.S. trading hours. IGTFX , From the point of recovery the short-term moving average reversed its movement and seems to cross its long-term counterpart shortly. IGTFX , This maybe boosts the bulls and could be the beginning of an attack to the bearish trend-line. IGTFX , The ADX may show that the bearish power is nearly zero. IGTFX ,

IGTFX , Intraday Support & Resistance (H1)Support Levels around Resistance Levels around
1.3310 1.3324
1.3295 1.3375
1.3271 1.3435

EUR/JPY (4 Hours)

IGTFX , The EUR/JPY has been moving in a zigzag movement. IGTFX , As you can see the currency pair fell this week near to the March opening until it rebounded again. IGTFX , But now it seems that the bulls failed to cross the resistance around 123.49 and a long roving Doji may suggest a trend-reversal. IGTFX , Also the Commodity Channel Index may indicate a bearish trend as it crossed its +100 line yesterday.

IGTFX , Intraday Support & Resistance (H4)Support Levels around Resistance Levels around IGTFX ,
122.80 123.49
122.18 123.96
121.54 124.53

 

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IGTFX IGTFX technical analysis , The EU leaders found a joint solution for Greece debt difficulties at a summit on Thursday evening finally. IGTFX IGTFX It remains to be seen if that would help to stabilize the EUR. IGTFX However, we wish you a successful trading day and have a nice weekend. IGTFX

IGTFX Market Review – IGTFX Fundamental Perspective

IGTFX Before the EU summit yesterday evening the EUR extended its losses versus the USD touching its lowest level at 1.3268. IGTFX Weeks of speculation and uncertainty how the euro-nations could help Greece for the case of illiquidity came yesterday evening to an end as the leaders of all 16-euronations endorsed a joint proposal of France and Germany for a mix of IMF and bilateral loans. IGTFX , Each country would provide non-subsidized loans to Greece based on its stake in the ECB, a statement said. IGTFX , Altogether Europe would provide more than half the loans and the International Monetary Fund brings the rest. IGTFX , Nevertheless the loans will only be paid if Greece has no more options at the market to refinance its debts. IGTFX , Every euro-nation needs to validate this fact and have a veto. IGTFX , After the summit the EUR rose versus 14 of its 16 most-traded counterparts as Jean-Claude Trichet, President of the ECB said that he was “happy” that the region found a solution. IGTFX , The EUR/JPY gained yesterday for the second day to 123.90 at the highest level while the EUR/GBP closed nearly unchanged at 0.8961. IGTFX , The JPY strengthened from a 10-month low against the USD on speculation that Japanese exporters took advantage of its largest weekly loss this year to purchase the currency before the fiscal year will ends next week. IGTFX , Japan’s consumer prices declined for the 12th month in February, the statistic bureau in Tokyo said today. Prices excluding fresh food slid 1.2 percent from a year earlier. The GBP/USD declined as U.K. IGTFX , Chancellor of the Exchequer Alistair Darling said that the revised down his growth forecast for 2011, in line with the Bank of England forecast. IGTFX ,
IGTFX , The NZD climbed versus the JPY as the national trade surplus widened in February after rising commodity prices and a seasonal increase in farm production stoked exports. IGTFX , The AUD/USD heading for the first weekly loss this month and traded near the lowest level since March 9th on concern the Greece rescue package may curb demand for the so called higher yielding assets. IGTFX ,

IGTFX , Daily Technical Analysis - IGTFX , Our Focus Currencies for Today


EUR/USD (1 Hour)

IGTFX , During the Europe session the currency pair fell near to its daily support level around 1.3243, as shown in the report yesterday, before the EUR/USD recovered in the late U.S. trading hours. IGTFX , From the point of recovery the short-term moving average reversed its movement and seems to cross its long-term counterpart shortly. IGTFX , This maybe boosts the bulls and could be the beginning of an attack to the bearish trend-line. IGTFX , The ADX may show that the bearish power is nearly zero. IGTFX ,

IGTFX , Intraday Support & Resistance (H1)Support Levels around Resistance Levels around
1.3310 1.3324
1.3295 1.3375
1.3271 1.3435

EUR/JPY (4 Hours)

IGTFX , The EUR/JPY has been moving in a zigzag movement. IGTFX , As you can see the currency pair fell this week near to the March opening until it rebounded again. IGTFX , But now it seems that the bulls failed to cross the resistance around 123.49 and a long roving Doji may suggest a trend-reversal. IGTFX , Also the Commodity Channel Index may indicate a bearish trend as it crossed its +100 line yesterday.

IGTFX , Intraday Support & Resistance (H4)Support Levels around Resistance Levels around IGTFX ,
122.80 123.49
122.18 123.96
121.54 124.53