Technical analysis for 28.08
EURUSD
The pair’s resistance 1.25690, support is 1.23907. The pair has reached Moving Average (100) at 1.25136.
Resistance: 1.25690, 1.26897, 1.28630
Support: 1.23907, 1.21813, 1.19332
GBPUSD
The pair has tested Moving Average (500) at 1.59309 and rolling back to 1.56722.
Resistance: 1.58543, 1.60322, 1.62050
Support: 1.56722, 1.54842, 1.53482
USDCHF
The pair has worked out Head and Shoulders figure. The pair will continue declining if stays below 0.96220.
Resistance: 0.96220, 0.97427, 0.98512
Support: 0.95047, 0.93949, 0.93069
USDJPY
The pair’s resistance 79.070, support is 78.345.
Resistance: 79.070, 79.707, 80.438
Support: 78.345, 77.539, 76.463
AUDUSD
The pair’s resistance is 1.05332, support is 1.04407.
Resistance: 1.04407, 1.05332, 1.06164
Support: 1.03535, 1.02558, 1.01744
Market review for 27.08.12: The speech of Mr. Schaeuble supported the Euro currency today.
Asian and European trading sessions:
Euro: The EUR / USD pair traded in a range of $ 1.2499 -$ 1.2523 during the Asian session. The euro currency was stable against its competitors as investors waited for the publication of data on IFO business climate index in German, the economists’ estimates of which suggested of dropping of this index in August to 102.7 against 103.3 in July. During the European session the euro rose slightly against the dollar after the published data showed that the IFO index fell less than forecasts. The currency continued to grow even not taking into account that the other reports for German’s economy performance were slightly below expectations. The support for single currency was provided by the speech of German Finance Minister Wolfgang Schaeuble who said that Germany and France will create a working group, which will prepare solutions in banking alliance to improve the financial and monetary union in the region. The EUR / USD pair has reached $ 1.2535area, which was its high of today.
U.S. Dollar: The demand for the dollar was limited ahead of today's speech the president of the Federal Reserve Bank of Chicago, Mr. Charles Evans and anticipations of the Friday’s speech of Mr. Bernanke regarding further actions of the Federal Reserve for easing its monetary policy.
American trading session:
Canadian dollar: The Canadian dollar rose against most major currencies along with increased demand for the higher-yielding assets.
British Pound: The pound traded today in a narrow range, of $1.5791-$1.5826 as financial markets in the UK were closed for an official holiday.
Gold: The gold prices updated today its August’s high reaching the level of $1676.82 per troy ounce. The precious metal is continuing to be in demand after the Federal Reserve System signaled for soonest declaration on another round of quantitative easing. The cost of the August gold futures closed at $1663.4 per troy ounce level today on the COMEX.
Oil: The October WTI oil futures suffered a big intraday drop falling by more than 3$ amid speculation that Tropical Storm “Isaac” will have an impact on the oil prices as it approaches the northern coast of the Gulf of Mexico. The WTI futures fell to $ 94.43 per barrel area on the NYMEX today.
EURUSD
The pair’s resistance 1.25690, support is 1.23907. The pair has reached Moving Average (100) at 1.25136.
Resistance: 1.25690, 1.26897, 1.28630
Support: 1.23907, 1.21813, 1.19332
GBPUSD
The pair has tested Moving Average (500) at 1.59309 and rolling back to 1.56722.
Resistance: 1.58543, 1.60322, 1.62050
Support: 1.56722, 1.54842, 1.53482
USDCHF
The pair has worked out Head and Shoulders figure. The pair will continue declining if stays below 0.96220.
Resistance: 0.96220, 0.97427, 0.98512
Support: 0.95047, 0.93949, 0.93069
USDJPY
The pair’s resistance 79.070, support is 78.345.
Resistance: 79.070, 79.707, 80.438
Support: 78.345, 77.539, 76.463
AUDUSD
The pair’s resistance is 1.05332, support is 1.04407.
Resistance: 1.04407, 1.05332, 1.06164
Support: 1.03535, 1.02558, 1.01744
Market review for 27.08.12: The speech of Mr. Schaeuble supported the Euro currency today.
Asian and European trading sessions:
Euro: The EUR / USD pair traded in a range of $ 1.2499 -$ 1.2523 during the Asian session. The euro currency was stable against its competitors as investors waited for the publication of data on IFO business climate index in German, the economists’ estimates of which suggested of dropping of this index in August to 102.7 against 103.3 in July. During the European session the euro rose slightly against the dollar after the published data showed that the IFO index fell less than forecasts. The currency continued to grow even not taking into account that the other reports for German’s economy performance were slightly below expectations. The support for single currency was provided by the speech of German Finance Minister Wolfgang Schaeuble who said that Germany and France will create a working group, which will prepare solutions in banking alliance to improve the financial and monetary union in the region. The EUR / USD pair has reached $ 1.2535area, which was its high of today.
U.S. Dollar: The demand for the dollar was limited ahead of today's speech the president of the Federal Reserve Bank of Chicago, Mr. Charles Evans and anticipations of the Friday’s speech of Mr. Bernanke regarding further actions of the Federal Reserve for easing its monetary policy.
American trading session:
Canadian dollar: The Canadian dollar rose against most major currencies along with increased demand for the higher-yielding assets.
British Pound: The pound traded today in a narrow range, of $1.5791-$1.5826 as financial markets in the UK were closed for an official holiday.
Gold: The gold prices updated today its August’s high reaching the level of $1676.82 per troy ounce. The precious metal is continuing to be in demand after the Federal Reserve System signaled for soonest declaration on another round of quantitative easing. The cost of the August gold futures closed at $1663.4 per troy ounce level today on the COMEX.
Oil: The October WTI oil futures suffered a big intraday drop falling by more than 3$ amid speculation that Tropical Storm “Isaac” will have an impact on the oil prices as it approaches the northern coast of the Gulf of Mexico. The WTI futures fell to $ 94.43 per barrel area on the NYMEX today.