Easy Forex Daily Forex Report 14-08-2012
August 14, 2012 12:47 pmVideo
Latest News
- The dollar is in control April 19, 2024
- Analysis of the GBP/USD pair on April 18, 2024 April 18, 2024
- Analysis for EUR/USD pair on April 18th. Dull ending to a dull week April 18, 2024
- USD/JPY: Simple trading tips for novice traders on April 18th (US session) April 18, 2024
- GBP/USD: Simple trading tips for novice traders on April 18th (US session) April 18, 2024
- EUR/USD: Simple trading tips for novice traders on April 18th (US session) April 18, 2024
- GBP/USD: trading plan for the US session on April 18th (analysis of morning deals) April 18, 2024
- Trading Signals for EUR/USD for April 18-20, 2024: buy above 1.0641 (21 SMA – 2/8 Murray) April 18, 2024
- Bitcoin slides ahead of halving event – Crypto News April 18, 2024
- Trading Signals for BITCOIN (BTC/USD) for April 18-20, 2024: buy above $62,500 or $63,037 (4/8 Murray – rebound) April 18, 2024
- GBP/USD. April 18th. Andrew Bailey did not clarify the situation on QE April 18, 2024
- Trading Signals for GOLD (XAU/USD) for April 18-20, 2024: buy above $2,375 (6/8 Murray – 21 SMA) April 18, 2024
- Technical Analysis – Netflix stock moves within narrow range ahead of earnings April 18, 2024
- Technical Analysis – GBPUSD tries to recoup some losses April 18, 2024
- USD/JPY in crisis April 18, 2024
- EUR/USD: trading plan for US session on April 18. EUR gets stuck at 1.0686 April 18, 2024
- Fed to keep policy tight for longer than markets view April 18, 2024
- Technical Analysis – BTCUSD drops to 6-week low as halving looms April 18, 2024
- Midweek Technical Look – EURUSD, US 500, WTI April 18, 2024
- Technical Analysis – AUDJPY pulls back but stays in uptrend April 18, 2024
EURO Cross Sellers Booking Profit
U.S. Dollar Trading (USD) traders
were surprised by the strong move higher in the EUR/USD which took advantage of
light trading conditions to return to the 1.23 handle. EUR/AUD and EUR/NOK
short coverings where the main catalysts in the otherwise peculiar move higher
in the Euro. Other Risk currencies lost ground against the Dollar with Gold and
AUD the biggest losers. US Stocks have rallied each week for the last 10 weeks
and could be close to correcting lower so traders will be closely watching downside
moves such as yesterday’s. Looking ahead, July Retail Sales are
forecast at 0.3% vs. -0.5% previously.
The Euro (EUR) in light trade the
EUR/USD broke above 1.2300 and hit day highs of 1.2375 before easing into the
US session close. The strong moves were on the back of Euro Cross unwinding but
was a surprise given the relatively negative news flow over the weekend. Greece
GDP was -6.2% y/y in Q2 but this was actually stronger than some economists
expected and a preview for the larger Eurozone Countries GDP later this week. The Sterling (GBP) the
1.5700 level resistance proved too much for the GBP/USD and when EUR/GBP buyers
entered the market and US stocks fell Cable eased back to 1.5680 supports. Looking ahead, August
German ZEW Survey forecast at -19.6 vs. -19.6 previously.
The Japanese Yen (JPY) was quiet in a 20
pip range between Y78.15 and Y78.35 the outlook is mixed with range trader’s
buying at the current levels and sellers hoping for a fresh downtrend on a
break of Y78 in the near future. US Monetary policy and BOJ/MOF intervention
risks are still the main drivers of the USD/JPY in the medium term. Australian Dollar (AUD) the AUD/USD was
under pressure as it became clear no Chinese stimulus was coming imminently and
US stocks eased later in the day which added to the Aussie weakness. Support
was once again found at 1.0500 where dip buyers emerged looking for the uptrend
to continue.
Looking ahead, July NAB Business Confidence previously
at -3.
Oil & Gold (XAU) XAU/USD fell
back in a disappointing day for the bulls who hoped last week’s break of $1618 signaled
more gains.
OIL/USD was steady still well supported on the dip as the
bulls remained in control of the energy.
Pairs to watch
EUR/USD to retest the 1.2460 highs?
EUR/AUD to unwind further or return to downtrend?
TECHNICAL COMMENTARY
Currency
Sup 2
Sup 1
Spot
Res 1
Res 2
EUR/USD
1.2215
1.2250
1.2340
1.2380
1.2460
USD/JPY
77.90
78.05
78.40
78.50
79.05
GBP/USD
1.5600
1.5645
1.5680
1.5700
1.5730
AUD/USD
1.0480
1.0500
1.0525
1.0580
1.0635
XAU/USD
1600.00
1607
1613
1624
1633
OIL/USD
89.45
91.50
92.90
94.60
96.00
By Anthony Darvall (TonyD)
Forex trading involves substantial risk of loss, and may not be suitable for everyone.
Click here to visit Easy-Forex.com
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