Friday, March 30, 2012

EUR/JPY Emerging patterns 4H Chart Rising Wedge

EUR/JPY Emerging patterns 4H Chart Rising Wedge


EUR/JPY was consolidating during the last 173 bars, forming a Rising Wedge pattern on 4H chart. The formation has 76% quality along with 66% magnitude.
The price slowed near its support level around 109.23 and tried to break it, but failed to do so.  Pair was trading in a tight range after testing the level and now it has a possibility to get back into initial area. Read more

Thursday, March 29, 2012

Forex - RBC forecast for USD/JPY

Forex - RBC forecast for USD/JPY

Analysts at RBC Capital Markets claim that US dollar made last week a reversal pattern “bearish divergence” as it fell below 82 yen. The specialists expect USD/JPY to keep declining to 82.02 and 80.60. At the latter level the bank recommends going long on the greenback within the upward trend which began in February. Read more

Forex - BMO trading recommendations for EUR/USD

Forex - BMO trading recommendations for EUR/USD

Specialists at BMO Capital suggest a strategy to benefit from the dollar's temporary slippage. They recommend going short when EUR/USD reaches $1.35 level or now at $1.33 with a stop at $1.34 and targeting at $1.30. On Tuesday the Fed’s Chairman Ben Bernanke hinted that the third round of QE is on the cards. "The euro rose after Bernanke's comments, but it wasn't a widespread shift," BMO analysts say. Read more

Forex - RBS : Japanese Yen keeps strengthening

Forex - RBS : Japanese Yen keeps strengthening 

USD/JPY continues its decline as Japanese exporters are seen selling US dollar in large amounts as the nation’s financial year ends today and MSCI Asia Pacific Indexfell by 0.8% after losing 0.5% yesterday. Strategists at Royal Bank of Scotland say that yen is now more correlated with the stock market’s moves, so they are in favor of selling USD/JPY. Read more

Analysts comments ahead of Eurogroup Summit

Analysts comments ahead of Eurogroup Summit


European governments are preparing to increase the ceiling on rescue aid to 940 billion euro ($1.25 trillion) for 1 year at Eurogroup meeting in Copenhagen on March 30-31 in order to constrain the debt crisis. Under the proposal, the overall capacity would return to 500 billion in July 2013, when the EFSF expires. Read more

Canada 2012 Budget Release - March 30, 2012

Canada 2012 Budget Release - March 30, 2012

On March 30, Thursday, finance minister Jim Flaherty is expected to deliver the annual budget. RBC Capital Markets: The finance minister will report a deficit of between C$20 billion ($20.1 billion) and C$25 billion for the fiscal year, compared with an earlier forecast of C$31 billion, and will forecast bringing the country back to budget balance by the end of the 2015-16 fiscal year, a year ahead of schedule. Read more

Thursday, March 1, 2012

Rabobank comments on EUR AUD CAD

Analysts at Rabobank believe that the single currency will fall to $1.25 versus the greenback by the middle of May and then return to growth targeting $1.40 in the longer-term as the specialists believe that US dollar will be weakened by the Fed’s policies and economic growth slowdown.
The bank is bullish on the Australian dollar and the Canadian dollar. In their view, these commodity and growth-linked currencies are helped by the success of the LTRO which improved investors’ sentiment. The analysts aren’t sure that Aussie and loonie will be able to maintain the gains for the duration of the year, but for now they seem to be supported well enough.
published by FBS Holdings © 2012