Asian market condition for currencies.

Discussion in 'Forex News' started by fxlaura, Apr 30, 2012.

  1. fxlaura

    fxlaura Trader

    EUR/USD has traded in a 20 pip range either side of its NY closing level. Press reports out of Germany suggest that a potential Merkel-Hollande alliance will not be as cosy as Merkozy but the market in Asia has had no interest. Range: 1.3227/48

    USD/JPY has drifted slowly lower toward stop-loss orders below 80.00 but technical support (50% retracement 76.00/84.16) has held firm so far. Japan was closed today and will close again on Thursday and Friday. Ranges: 80.08/38; EUR/JPY 106.01/43

    AUD/USD has also been fairly quiet ahead of some big risk events tomorrow, namely the RBA decision and Chinese official PMI. Sovereign demand and reserve manager demand for Australian bonds keep the AUD well supported despite a likely drop in interest rates. Range: 1.0431/69

    Cable 1.6262/83; EUR/CHF 1.2005/15
  2. Andrefx

    Andrefx Trader

    EUR/USD is mainly depended these days on Wall Street. If the US index continues rising than I expect the USD to continue weakening and we will see the Euro around 1.34.
    The Yen erased almost 50% of the strengthening of the USD and already broker the psychological number 80.0. The next target, from my point of view, is the 200 SMA around 78.0, although the bullish correction is getting close.
  3. ifftikhar786

    ifftikhar786 Trader


    Netherlands The Euro is the U.S. Dollar Tuesday.

    EUR / USD is trading at 1.2794, down 0.19% at the time of writing the article.

    This currency pair found support at 1.2643, the lowest on Friday, and resistance to 1.2824, the highest on Monday.

    Moreover, the euro weakened against the Pound Sterling and Japanese Yen, the EUR / GBP losing 0.06% to reach 0.8089 and the pair EUR / JPY down 0.09% to reach 101.56.

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  4. Weizfx

    Weizfx Trader

    The forex markets are waiting for the actual trading week to begin in Wall Street. Yesterday we saw many gap-ups in most of the pairs, including the AUD/USD. I believe that a strong break-up at 0.99 will launch the Aussie above 1.0 and maybe to 1.005.
    USD/JPY is consolidating around 79.50 but the trend here is clearly bearish so I expect a bearish reversal under 79.2 that will take the pair to the recent low at 79.0.

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