Easy Forex Daily Forex Report 26-03-2013
March 26, 2013 11:24 amVideo
Latest News
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- Forecast for AUD/USD on May 2, 2024 May 2, 2024
- Bank of Japan is trapped and increasingly dependent on the Fed’s stance. Overview of USD/JPY May 2, 2024
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- Technical Analysis – US 500 index might hit lower levels after Tuesday’s slump May 1, 2024
- Technical Analysis – NZDUSD falls back towards 5-month low May 1, 2024
- Technical Analysis – USDJPY erases losses, but risks remain May 1, 2024
Cyprus deal pushes euro lower
The euro (EUR) saw its largest drop in weeks against the US dollar (USD) moving from a high of 1.3047 to 1.2829. The single currency, currently moving just above 1.287 has come under pressure after yesterday’s deal on Cyprus. The “Cyprus Precedent”, as the press dubbed it, made many analysts suggest that the restructuring of troubled economies banks will be solved similarly if done under the EU, ECB, IMF framework. This has caused jitters in Spanish, Italian and other southern European lenders which are heavily exposed to their sovereigns.
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Movers & Shakers
USDJPY
The US dollar (USD) continued losses versus the Japanese yen (JPY). The pair moved to lower lows touching 93.57 before recovering somewhat to 94.24. Some analysts suggest that the pair is correcting on its upward course. Japan’s new central banker, Kuroda, has outlined the options for monetary easing which may help the yen edge lower.
Outlook
EURUSD Pivot Point 1.2920 with a preference to go SHORT at 1.2920.
Sentiment is 41% of deals to buy EUR
USDJPY Pivot Point 94.95 with a preference to go SHORT at 94.95.
Sentiment is 42% of deals to buy USD
GBPUSD Pivot Point 1.5165 with a preference to go LONG at 1.5165.
Sentiment is 66% of deals to buy GBP
AUDUSD Pivot Point 1.0415 with a preference to go LONG at 1.0415.
Sentiment is 59% of deals to buy AUD
GOLD Pivot Point 1617 with a preference to go SHORT at 1617.
Sentiment is 70% of deals to buy GOLD
OIL Pivot Point 95.65 with a preference to go SHORT at 95.65.
Sentiment is 77% of deals to buy OIL
US 500 Pivot Point 1535 with a preference to go Long at 1535.
Sentiment is 22% to buy US 500
UK 100 Pivot Point 6300 with a preference to go Long at 6300.
Sentiment is 18% to buy UK 100
Calendar
GBP – CBI Realized Sales at 11:00(GMT) Forecast 12
USD – Core Durable Goods Orders m/m at 12:30(GMT) Forecast 0.7%
USD – New Home Sales at 14:00(GMT) Forecast 426K
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