IGTFX technical analysis

[igtfx.research]

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.

 

[igtfx.research]

technical analysis

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.

 

[igtfx.research]

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.

 

[exllon]

I vote for bear..let see if it bounce back or get higher

Nice chart TT for sharing...

 

[igtfx.research]

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.

 

[igtfx.research]

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.

 

[darwisy]

Hi igtfx.research. Please use this section TECHNICAL ANALYSIS for your analysis. Thanks.

 

[igtfx.research]

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 .

 

[igtfx.research]

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 .

 

[igtfx.research]

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.