IGTFX technical analysis

IGTFX technical analysis, The Chinese economic data seems to have an influence on the Japanese currency after the JPY fell against other currencies inside the Pacific region. Anyways, we wish you a nice trading day!

The JPY fell to a two-week low versus the NZD on speculation that the Japanese economic rebound will lag behind the rest of the Asia-Pacific region. The Japanese currency fell close to its deepest level in two weeks versus the AUD after a Chinese report today showed that the regions exports increased the most in three years. IGTFX demo China’s exports climbed 45.7 percent in the previous month from a year earlier. It was the third monthly increase and the biggest gain since February 2007. The figure was expected to increase just 38.3 percent, according to a survey. IGTFX demo The AUD/JPY has climbed for the fourth day in a row and rose to a high at 82.50, which was close to its highest level since February 22nd. IGTFX demo The NZD/JPY has gained to a high of 63.63, which is the highest peak since February 23rd. IGTFX demo The GBP fell versus all the 16 major currencies before a U.K. report today, is expected to show that manufacturers increased the production at a slower pace. According to a survey, the output in U.K. expended 0.2 percent in January from December. IGTFX demo The data for the month before showed an increase of 0.9 percent. IGTFX demo The GBP fell for a third day against the USD after it reached a low at 1.4957.

GBP/USD

As you can see, the GBP/USD has been trading bearish from March 8th along the Fibonacci fan and broke two retracement levels. IGTFX demo After touching the 38.20% (around 1.4940), the pair pulled up, entered the bearish Fibonacci fan, but pulled down again after it touched the middle line of the fan. IGTFX demo This might be a sign for a continuing development along the fan on IGTFX demo, which shows in the direction of the 1.4940 support level.

USD/JPY

As you can see, the USD/JPY has been trading along a bearish trend channel with a support around 88.15, including the two resistance levels around 90.70 and 92.10. IGTFX demo The “Williams’ Percent Range” as well as the IGTFX demo “Stochastic Oscillator” both may signalize a continuing movement towards the support level around 88.15.

IGTFX forex We are still focused on the Asia-Pacific currencies while

economists are speculating about the reaction of the Chinese

government. IGTFX forex We hope you will enjoy it and wish you a

relaxed and successful trading day.

Market review
IGTFX forex The JPY and USD climbed against a basket of major

currencies after Chinese reports showed factories and loans fueled,

which added to be concerned about inflation in the region and the

government will act to damp more growth. IGTFX forex The speculation

about an act from the Chinese government boosted demand for low-

yielding currencies as the JPY pulled back from a twoweek low against

the EUR. IGTFX forex China’s consumer prices climbed 2.7 percent from

a year earlier in February while the Industrial output gained 20.7

percent in the first two months of the year. IGTFX forex The EUR/JPY

fell from its yesterdays high at 124.00, which was its highest peak

since February 23rd. IGTFX forex The JPY gained to a high of 123.02

versus the EUR. IGTFX forex The Japanese currency reached a dayhigh at

82.28 versus the AUD after it fell over the past four trading days. It

finally pulled back from its low at 83.32, which was the lowest level

since January 21st. The AUD fell against the USD as it has reached a

seven-week high yesterday. IGTFX forex The bad performance may be

caused by a report that published the nation’s employers added fewer

jobs than economists expected. IGTFX forex The AUD/USD fell to a low

at 0.9114 after it reached a high at 0.9193 yesterday, which was its

strongest level since January 20th.
CAD/CHF

Since February 9th, the CAD/CHF has been moving inside a bullish trend

channel and Fibonacci projection level. IGTFX forex After touching the

100% projection line around 1.0511 for the second time, the market

pulled down and reached the lower line of the trend channel. IGTFX

forex If the market could break out the bullish trend channel, it may

fall towards the lower Fibonacci levels.

CAD/JPY

Since the beginning of February, the CAD/JPY has been trading in an N

formation with a resistance point around 88.30. IGTFX forex Yesterday,

the pair has shown a small break-out through the resistance level

before coming back.IGTFX forex It depends whether the pair will show a

clearly movement along the levels. IGTFX forex If the pair will show a

strong break through the resistance around 88.30, it might continue its

bullish trend inside the channel.

IGTFX technical analysis, Welcome to our Daily FX Report. We have reached Friday while we had an unpredictable and difficult trading week. IGT forex Nevertheless, we hope you had a successful one. IGT forex wishes u to Have a nice weekend.

Market review

IGT forex The JPY fell to a two-week low versus the EUR after Japanese Finance Minister Naoto Kan said that foreign-exchange intervention is always an option for the government if the currency movements are abrupt. IGT forex The JPY dipped versus all 16 major currencies after Prime Minister Yukio Hatoyama also said that the region’s government could take appropriate measures on the currency. IGT forex Another reason for the bad performance of the JPY could be the speculation that the BoJ will do a fund injection to the financial system to end deflation. IGT forex The BoJ will hold a two-day policy meeting on March 16th and 17th. According to two central bank officials, IGT forex the central bank’s easing options include an injection of 10 trillion JPY ($110 billion) to provide loans to banks. IGT forex The EUR/JPY climbed for a third day after touching a high at 124.17, IGT forex which was the highest level since February 23rd. IGT forex The USD/JPY also gained as it reached a high at 90.75, trading around the resistance level from December 04th 2009 (see report from March 10th). IGT forex The USD reached its fourth weekly gain versus the GBP before a report today is expected to show that confidence among the region’s consumers increased.

CHF/JPY

IGT forex Since February 23rd, the CHF/JPY has been moving inside the lower channel of Andrews’ Pitchfork, which starts at the beginning of February. After touching the 83.00 support level, the pair pulled up and reached the middle line of the Pitchfork. IGT forex Combined with the RSI analysis, we may expect that the middle line of the Pitchfork could give the market resistance to change the direction. IGT forex

GBP/NZD

IGT forex Since the beginning of February, the GBP has been trading along a bearish Fibonacci fan against the NZD. In addition, IGT forex we can see a resistance level around 2.1935 including a bearish trend channel, both starting at February 23rd. IGT forex We expect could a continuing bearish trend while we’ve four resistance levels above the market. IGT forex Should the pair cross over the 2.1935 resistance level, we might see a bullish trend reversal.

IGTFX technical analysis survey stokes fears that the upcoming election may end in a minority government and strained the GBP. However, we wish you a nice and prosperous trading day.

IGFX technical analysis The GBP declined versus all of its 16 most traded counterparts and dropped against the USD the most in two weeks as a national poll showed that the U.K. may face a minority government after the upper house election this July. IGFX technical analysis The GBP/USD fell 1.1 percent to 1.5034 while the EUR/GBP rose 0.3 percent to 90.83 yesterday. IGFX technical analysis Futures traders at the CME are more bearish than ever on GBP amid concern that the currency’s worst annual start in 13 years will continue.IGFX technical analysis The bearish gamblers outnumber the bulls by eight times more than George Soros made $1bln betting against the sterling in 1992. IGFX The USD extended its gains versus the GBP during the early Asia trading hours on speculation that the Federal Reserve may eliminate its commitment to key interest rates near zero for an “extended period” at its meeting today. IGFX technical analysis The EUR/USD declined on Monday as euro-zone officials damped speculation down that the Finance Ministers will adopt a rescue strategy to bail out Greece this week. IGFX technical analysis The euro-zone still hopes that Greece’s budget cuts will make a bailout unnecessary. IGFX technical analysis
IGFX technical analysis, The CHF climbed against the EUR to its highest level in almost 17 months as a government report showed that the annual producer and import prices declined at the slowest pace in more than a year adding signs that the SNB may stop selling its own currency. IGFX technical analysis The central bank started selling a year ago to contain declining consumer prices and to prevent from a deflation.
IGFX technical analysis The AUD/JPY weakened for a second day on concern the minutes of its central bank’s March meeting will signal a slower pace to future interest rate increases after the bank already rose borrowing costs to 4 percent at its gathering.
IGFX technical analysis The demand for NZD/USD was limited on concern a U.S. IGFX technical analysis report may show that the housing starts dropped in February; raising speculation the global recovery is slowing which cuts demand for so called higher-yielding assets.IGFX technical analysis
Daily Technical Analysis from IGFX technical analysis - Our Focus Currencies for Today

GBP/USD (2 Hour)

IGFX technical analysis After the GBP broke through its short-term support as shown in our report yesterday, the currency pair declined near to the 1.5000 level. IGFX technical analysis Thus it seems unlikely to cross the overall longterm bearish trend-line rather we maybe have to allow for a continuing bearish movement near to 1.4872 if the support around the 1.5000 level won’t be strong enough.IGFX technical analysis

EUR/GBP (2 Hour)

IGFX technical analysis Since the middle of February the EUR/GBP has been trading close to a bullish trend-line and touched already its resistance around 0.9143 twice. IGFX technical analysis Now it remains to be seen if the trend could support the bulls once again to climb over the resistance around 0.9100 otherwise it may fall back near to its support around 0.9046.IGFX technical analysis

IGTFX technical analysis, The Federal Reserve extended its low-borrowing-cost policy once again and higher prices for raw material affected parts of the FOREX market especially the higher yielding assets. IGTFX technical analysis Enjoy the report and have a nice trading day. IGTFX
IGTFX. The Federal Reserve kept the federal funds rate target for overnight loans between banks near zero and repeated its pledge to keep it there for an “extended period”. IGTFX The Fed also said that the emergency measures to prop up the housing market will end as planned this month. IGTFX After this decision the JPY climbed near to a one-week high versus the USD on concern the Bank of Japan will abstain from significant easing measures. IGTFX The EUR/JPY opened the Asia session higher and may head for a second winning day as the rating agency Standard & Poor’s affirmed its BBB+ long-term rather A-2 short-term credit rating for Greece. IGTFX The GBP/AUD raised more than 130 pips yesterday as U.K. stocks strengthened and a new poll eased concern that the election this year won’t produce a clear winner.IGTFX

IGTFX The CAD rose to the strongest level in almost two-years against the USD. IGTFX It climbed as much as 0.6 percent at its highest level as gold and crude oil gained. IGTFX Raw materials account about half of Canada’s export sales.

IGTFX The CHF strengthened against 12 of its 16 most active traded counterparts as the government raised its forecast for 2010 growth amid improved consumer spending. IGTFX The State Secretariat for Economic -IGTFX- Affairs said the Swiss gross domestic product may expand 1.4 percent this year. The USD/CHF declined yesterday from 1.0619 at its opening to 1.0534 at its lowest level. IGTFX

IGTFX Also the AUD gained versus the JPY as well as the USD as raw material prices increased. IGTFX The AUD/USD touched a two-month high while the AUD/JPY traded nearly unchanged around 83.00 level during the early Tokyo trading hours. IGTFX The NZD, as well a commodity-linked currency, IGTFX climbed to a six-week high against the USD yesterday but as a report showed this morning that New Zealand’s consumer confidence declined for a second quarter it came under pressure and lose some of its earlier gains. IGTFX

IGTFX Daily Technical Analysis - Our Focus Currencies for Today

USD/JPY (2 Hour)

IGTFX Since the middle of January the USD/JPY has been trading close to a bearish trend line. IGTFX After the USD reached its lowest level at the end of February the currency pair started a recovery phase close to a bullish trend-line as you can see in the picture. IGTFX A rising Momentum may indicate further bullish movements near to the resistance around 90.82. IGTFX

EUR/JPY (2 Hour)

IGTFX The EUR/JPY broke through its mid-term bearish trend-line after it fell to the 120.00 level last month and crossed the third Fibonacci fan at last. IGTFX But the falling positive DMI and an ADX at such a low level could indicate that the bulls have not enough assistance to cross the next resistance at 124.48. IGTFX If the currency pair will fail to cross it may decline near to the next support around 123.67 rather its bullish-line. IGTFX

IGTFX technical analysis
It still seems that Europe’s officials can’t agree upon a rescue package for Greece and thus the FOREX market seems to react very sensitive of every new related report. However, we wish you a nice and successful trading day.

IGTFX live chat, Yesterday the EUR/USD fell from a five-week high having a spokesman for the German Chancellor Angela Merkel’s party said that Greece should go to the International Monetary Fund if it needs help and damped speculation that the European Union may adopt a rescue package for Greece. Due to the fact that Standard & Poor’s decided to left Greece credit ratings unchanged the expectations for price swings in the EUR/USD declined to a 19-month low. IGTFX live chat, The one-month volatility, used to price options, showed that traders expect movements of only 9.08 percent, the lowest level since August 2008. IGTFX live chat, After the EUR rose versus the JPY initially as the Bank of Japan extended a loan program to combat the national deflation the currency pair rebounded during the course of the day related to the most discussed topic, Greece. IGTFX live chat, The GBP rose against the USD from 1.5243 at its opening to 1.5382 at the highest level as a U.S. IGTFX live chat, report showed that the wholesale price declined in February more than expected. IGTFX live chat, The 0.6 percent decrease was the biggest since July 2009 adding signs that the U.S. inflation pressure is cooling down and may assist the Fed for its low-borrowing-cost policy.IGTFX live chat,

IGTFX live chat, The CAD expanded its gains against the USD and approaches the parity level. IGTFX live chat, The USD/CAD weakened to 1.0071, the lowest level in almost 20 months on concern that a Canadian report may show tomorrow that the consumer price index increased 0.3 percent in February.IGTFX live chat,

IGTFX live chat, The higher yielding assets AUD and NZD started friendly into the Asian session today as gains in stocks and especially in continuing gains in commodities. IGTFX live chat, Furthermore the AUD profits from so called “carry trades”. IGTFX live chat, The benchmark interest rate is 4 percent in Australia and compared with the counterparts in the U.S. rather Japan which are around 0.1 percent it seems very worthwhile for some traders.

IGTFX live chat, Daily Technical Analysis - Our Focus Currencies for Today


EUR/USD (Daily)

IGTFX live chat, After the EUR/USD traded close to a bearish trend-line from December till March it recovered and is still trading close to a young bullish trend-line. IGTFX live chat, After the currency pair crossed the bearish trend it touched its next resistance around 1.3797 but failed to cross it. IGTFX live chat, As you can see, the stochastic indicator touched the same high level as two times before which heralded strong bearish movements in the past.IGTFX live chat,

EUR/JPY (4 Hour)
IGTFX live chat, After the EUR/JPY reached its resistance at 125.06 yesterday for the second time this week it rebounded and fell near to its bullish trend-line. IGTFX live chat, This trend-line runs close to the 50% Fibonacci Fan and seems to have enough power to support the bulls. IGTFX live chat, The low level of the stochastic indicator may also suggest upcoming bullish movements. IGTFX live chat,

IGTFX technical analysis,
igt fx, Speculations related to Greece’s rescue package go to the next round and it remains to be seen how long the speculation will go on until Europe may find a join solution. igt fx, However, we hope you enjoyed the first week with our expanded igt fx, Report and wish you a nice weekend.igt fx,

igt fx, Market Review – Fundamental Perspective

igt fx, The EUR weakened versus the USD to the lowest level since the 10th of March to 1.3587 as Greece’s prime minister set a one-week deadline for the European Union to set up a financial rescue package and raised fears that Greece will fail to secure financial assistance from the EU. igt fx, Also the EUR/CHF boosted its downward trend once again and declined near to its lowest level in 17 months as Jean-Pierre Danthine, a SNB Government Board member said yesterday that policy makers can’t keep borrowing costs near zero for an extended period of time and maintain purchases of foreign currencies indefinitely. igt fx, The GBP/USD recovered and compensated its Wednesday’s gains as the Federal Reserve Bank of Philadelphia economic index rose to 18.9 percent from 17.6 one month earlier, readings greater than zero indicate growth. igt fx, Foreign long- igt fx, Term investments in the USA, including setting up wholly owned subsidiaries, joint ventures and buying stakes in existing American companies decreased last year to $152.1bln from $319.7bln in 2008, a Commerce Department report showed yesterday. U.S. investments abroad fell 33 percent last year to the lowest level since 2005. igt fx, The national current account deficit narrowed to $419.9bln in 2009, the smallest since 2001, according to the Commerce Department. igt fx, The USD/JPY closed nearly unchanged at 90.45 after opening at 90.37.igt fx,

igt fx, As prices for the April delivery of crude oil declined 0.9 percent on the NYMEX the USD/CAD rebounded after a two-days winning streak near to the parity. igt fx, The USD closed on Thursday near its highest level against the CAD at 1.0141 and rose up to the 1.0152 level during the early Asia trading hours tonight.igt fx,
igt fx, The AUD/NZD headed for its biggest increase since December on speculation the interest rate gap between both nations will narrow. igt fx, The AUD fell against the NZD from 1.2932 at its opening to 1.2855 at its lowest level.
igt fx, Daily Technical Analysis - Our Focus Currencies for Today
EUR/USD (1 Hour)

igt fx, While the EUR/USD crossed its resistance around the 1.3797 level as shown in the yesterday’s report the currency pair rebounded heralded by a long packing Doji close to a bearish trend-line. igt fx, For the time being it seems that the support around 1.3597 stops the bearish movement. igt fx, The RSI may show nearly an oversold market even though the short-term moving average is still trading lower than its long-term counterpart and maybe won’t suggest a trend-reversal shortly. igt fx,

USD/JPY (4 Hour)

igt fx, After the USD traded bearish versus the JPY during the end of February it recovered close to a bullish trend-line. igt fx, Having the currency pair crossed this line and lost its support it has been trading in a bearish trend-channel mostly between the 50.0% rather 61.8% Fibonacci retracement line. igt fx, It remains to be seen if the currency pair could break through one of them, the contracting Bollinger Bands may suggest an upcoming break-out.

IGTFX technical analysis
We hope you enjoyed your weekend and could start relaxed into the new trading week. Around the world speculation regarding raising interest rates affected the FOREX market.IGTFX technical analysis It seems that more and more central banks are looking for the exit of the quantitative easing policy. However, we wish you a successful trading day.IGTFX technical analysis

IGTFX technical analysis Market Review – Fundamental Perspective

IGTFX technical analysis The JPY rose against 12 of its 16 most-traded counterparts on concern the Bank of Japan may increase its key interest rates at its next meeting on April 7th. IGTFX technical analysis Some economists expect that the BoJ may end its low-borrowing-cost policy after the Reserve Bank of India unexpectedly raised its interest rates last week and on concern that also policy makers in China may follow. IGTFX technical analysis The CHF/JPY rose from 84.97 at its opening to 85.37 at its highest level during the early Asia trading session. The EUR/USD is continuing the bearish trend from last week and fell during the Tokyo trading hours to 1.3511 as on speculation that the German Chancellor let fail a summit regarding a Greece rescue package this week. IGTFX technical analysis While the most of all Euro-Zone Ministers prefer to adopt emergency measures for Greece the German Chancellor Angela Merkel may block this plan a German newspaper reported. IGTFX technical analysis Merkel told in an interview yesterday that EU leaders must not create “illusions” for markets by building expectations for Greek aid. IGTFX technical analysis The EUR/CAD fell to the lowest level since November 2007 to 1.3632 amid speculation that the Bank of Canada may also exit the low-borrowing-cost policy and could increase interest rates soon. IGTFX technical analysis The GBP tumbled against the EUR and the USD having the Bank of England policy maker Andrew Sentance said that Britain may return to recession adding signs that the BoE need to keep the interest rates at the current record low. IGTFX technical analysis Advanced economies face “acute” challenges in tackling high public debt and unwinding existing stimulus measures will not come close to bringing deficits back to prudent levels, said John Lipsky, first deputy managing director of the International Monetary Fund in a speech yesterday at the China Development Forum in Bejing. IGTFX technical analysis

IGTFX technical analysis The AUD/USD began the week bearish after it closed at 0.9154 on Friday near its previous week closing. IGTFX technical analysis The currency pair rebounded after the Reserve Bank of India increased the interest rates and on declining commodity prices. Due to the same reason the NZD/USD weakened as well. IGTFX technical analysis

IGTFX technical analysis Daily Technical Analysis - Our Focus Currencies for Today

EUR/USD (Daily)

IGTFX technical analysis Since December 2009 the EUR/USD has been trading in a bearish environment and according to our last report we saw further bearish movements on Friday. IGTFX technical analysis The chart shows a complete flag formation and may suggest continuing downward movements. IGTFX technical analysis On the other hand-site the negative DMI indicator failed to cross the 30 level and rebounded which could be an indicator for less bearish power. IGTFX technical analysis It remains to be seen if the next support around 1.3482 could stop the trend. IGTFX technical analysis

CHF/JPY (1 Hour)

IGTFX technical analysis Since the currency pair lost its support of the bullish trend-line last Thursday it traded in a trendless zigzag movement. IGTFX technical analysis If we consider the MACD indicator, which may denote that the youngest bearish movement may not have enough power to break through the support around 85.14, it maybe suggest that the CHF/JPY could confirm a new bullish trend-line. But it remains to be seen if the currency pair could cross the next resistances around 85.37 rather 85.72. IGTFX technical analysis

Tuesday, March 23, 2010
IGTFX technical analysis. The CHF seems to be one of the winners of the Greece discussion and climbed to its highest level since EUR introduction in 1999. IGTFX technical analysis, However, we wish you successful trades and enjoy your day. IGTFX technical analysis,
Market Review – Fundamental Perspective IGTFX technical analysis,
The CHF climbed versus the EUR to its highest level since before the 16-nation currency was set up in 1999 as traders bet that the Swiss National Bank may relaxing its policy of selling CHF to curb its strength. The demand for the CHF as a refuge also boosted a new speculation that the Euro-Zone Ministers may deny any financial rescue measures for Greece affected the FOREX market. IGTFX technical analysis, The President of the European Central Bank, Jean-Claude Trichet, spoke out against offering low-interest loans for which the Greek government asks for while the German Chancellor Angela Merkel argues for sanctions against nations that breach the deficit limits of the Euro-Zone. IGTFX technical analysis, In the course of the day the EUR/USD recovered after three bearish trading days and rose to 1.3568 at the highest level as Luxembourg’s Jean-Claude Juncker, who heads the group of euro-region finance ministers, said that the EU will not “abandon” Greece. The GBP strengthened against 15 of its 16 most-important counterparts on Monday. IGTFX technical analysis, The EUR/GBP weakened from 0.9017 at its opening and touched the lowest level at 0.8971. IGTFX technical analysis,
The AUD and NZD decreased against the JPY on speculation that Japanese companies will bring home their overseas earnings before the fiscal year ends next week. The NZD/USD compensate its yesterday losses during the early Asia trading session on concern a report may show this week that New Zealand’s economy grew at the fastest pace since two years. IGTFX technical analysis, Economists expect that the gross domestic product may grow 3.1 percent in the year ending in March 2011. IGTFX technical analysis,
The USD/CAD extended its recovery phase after the currency pair fell last week near to the parity on speculation that the bullish CAD rally last week was too fast to be sustained. IGTFX technical analysis, The currency pair rose yesterday from 1.0166 at its opening to 1.0244 at the highest level. IGTFX technical analysis, Also the EUR climbed against the CAD after three bearish trading days as crude oil, one of the most important exports for Canada, touched a two-week low at 78.57. IGTFX technical analysis,

IGTFX technical analysis, Daily Technical Analysis (In this section we provide chart analysis)
Our Focus Currencies for Today
EUR/CHF (Daily)

IGTFX technical analysis, The EUR/CHF has been trading in a bearish environment and boosted its downward movement obviously at last. In order of that the currency pair fell to a new all-time low yesterday. IGTFX technical analysis, From a technical point of view it seems that there are currently no support levels, except the RSI indicator which could show a strongly oversold market and may suggest profit takings. IGTFX technical analysis,
IGTFX technical analysis, Intraday Support & Resistance (Daily)
Support Levels around Resistance Levels around
N/A 1.4399
N/A 1.4530
N/A 1.4646
EUR/USD (1 Hour)

IGTFX technical analysis, The currency pair rebounded yesterday from its early losses as the short-term moving average crossed the mid- rather long-term counterpart. IGTFX technical analysis, But after the EUR bulls failed to cross the resistance level around 1.3567 close to the 38.2% Fibonacci Fan line it suggests a test of the support area on the downside around 1.3539, especially in considering due to the fact that the short-term moving average tumbled again. IGTFX technical analysis,
IGTFX technical analysis, Intraday Support & Resistance (H1)
IGTFX technical analysis, Support Levels around Resistance Levels around
85.14 85.37
84.86 85.72
N/A 85.86

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