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GBP/USD:
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EUR/USD:
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USD/JPY:
Get a brief summary recommendation - strong Buy, Buy, strong Sell, Sell or Neutral signals for the USD/JPY. Gain access to a detailed technical analysis through moving averages buy/sell signals (simple and exponential for 5,10,20,50,100 and 200 periods) and common chart indicators (RSI, Stochastics, StochRSI, MACD, ADX, CCI, ROC, Williams %R, Ultimate and more) Buy, Sell, Overbought, Oversold or Neutral signals . Also - pivot points levels for Standard, Fibonacci, Camarilla, Woodie's and Demark's are supplied. All technical studies are available in different time frames.
Dollar/Yen continued the decreasing movement yesterday. The currency couple climbed to the top 95.88, than dropped down to the bottom 94.90, and closed the day at 95.19. On the 1 hour chart is seen that the triangle formation was broken downwards as a support, suggesting potential descending views. Signals are downwards in the short term with possible testing of the 94.80 and 93.70 support levels. The CCI indicator is in the oversold area and upwards of 1 hour chart, suggesting possible spring upwards with testing of the nearest 95.90 resistance. Break above this level may trigger further bullish pressure.
Technical resistance levels: 95.90 97.25 98.50
Technical support levels: 94.80 93.70 92.45
On one of today's talk,
The euro-area economy is showing signs of stabilization after shrinking at the fastest pace in at least 15 years in the first quarter. Manufacturing and service industries contracted at the slowest pace in nine months in June and Germany’s Ifo index rose for a third month, according to data last week.
Europe’s largest maker of semiconductor equipment, earlier this month said it will return to regular working hours for its 1,100 Dutch factory employees. It also forecast that sales will rise in the second half compared with the previous six months
It seems that the EUR/USD has new support ground at 1.4100
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Today's Forex Analysis summary
The Australian Dollar could be looking at a sharp sell-off as signs are out there that investors are focusing more on the Australian economy than the higher yields offered by the market. Even the stock market rally on Wednesday could not encourage risk hungry traders to go after the higher yielding AUD USD. This is clearly as sign of developing weakness and is likely to trigger further downside pressure as traders are shifting their needs from return on capital to return of capital.
The NZD USD is facing similar issues as the Australian Dollar. With the economy showing signs of weakness, investors know the Reserve Bank of New Zealand has to take action to prevent the on-going recession from deepening and widening. Most traders are calling for quantitative easing or an intervention as the best short-term solution. The RBA may cut rates again since they have room to do so, but the speed of the decline in the economy will most likely counter-act a slow-moving interest rate reduction.
The U.S. Dollar weakened versus the Japanese Yen on Wednesday. Traders were mixed in their opinion as to why the USD JPY fell. Some felt it was caused by flight-to-quality buying because of lingering U.S. banking issues. Others felt that although Japan’s exports were down last month, they were slightly better than last month. This news was interpreted as the start of possible bottoming action
The Canadian Dollar closed lower today in a volatile two-sided trade. Several times throughout the New York session, the market traded on the plus side only to be met with selling pressure which drove it lower. Traders seemed reluctant to take a major position ahead of an important Bank of Canada announcement report
The news that the U.K. budget deficit would soar to 175 billion Pounds encouraged selling pressure all day in the GBP USD. Technically the daily chart main trend is down.
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