IGTFX technical analysis

[desifxtrader]

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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 Luxembourgs 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 Zealands 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

 

[igtfx.research]

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

 

[igtfx.research]

IGTFX technical analysis, Maybe the discussions related to financial measures for Greece come to an end and the 16 euronations may find a joint solution for the worst-case scenario if Greece couldn’t get enough liquidity at the market to refinance their payable debts.IGTFX , However, we wish you a nice day and successful trades.IGTFX technical analysis
Market Review – Fundamental Perspective

IGTFX , The EUR slid against the USD to a 10-month low as Fitch Ratings downgraded Portugal’s credit grade to AA- with a negative outlook. IGTFX , The 16-nation currency also weakened against 12 of its 16 most-traded counterparts after French and German leaders agreed any Greek financial measures would require help from the International Monetary Fund. IGTFX , The EUR/CHF keep on moving near its all-time low on concern the Swiss National Bank is abandoning a policy of curbing the CHF gains. IGTFX , “Right now it’s uncertain whether Greece will get bailed out and by whom.IGTFX , ” This, coupled with Portugal’s downgrade, has everyone moving away from the EUR”, a currency strategist said yesterday. The GBP/USD tumbled as the IGTFX , U.K. IGTFX , government published the budget-plan for 2010/2011 which showed that the deficit will widen to 11.8% of the GDP. The currency pair fell to 1.4864 at its lowest level after opening at 1.5048.IGTFX ,

IGTFX , The USD/NOK climbed from 5.9433 at its opening to 6.0413 at its closing as the Norwegian central bank decided to maintain its key interest rates at 175bps at its meeting today.IGTFX ,

IGTFX , The CAD declined against the USD as the Bank of Canada Governor, Mark Carney, reiterated that the commitment to keep interest rates at a record low through June “is expressly conditional on the outlook for inflation”. IGTFX , Furthermore falling crude oil prices put pressure on the CAD. IGTFX , The price for the May contract delivery fell by 1.8%, crude oil is the most important export of Canada.IGTFX ,

IGTFX , New Zealand’s gross domestic product rose 0.8% from the previous three months as consumer spending, manufacturing and house construction increased in the last quarter of 2009, a report showed today in Wellington. IGTFX , It was the fastest pace in two years and more than economists expected. IGTFX , After the NZD/USD dropped yesterday from 0.7075 to 0.7020 the currency pair started friendly in the Asia session and recovered to 0.7035.IGTFX ,
IGTFX , Daily Technical Analysis - Our Focus Currencies for Today
EUR/USD (Daily)

IGTFX , On a long-term view the EUR/USD has been trading in a bearish trend-channel since November 2009 and seems to completing the second bearish flag-formation. In order to this, the currency pair crossed the 28.6% Fibonacci retracement line around 1.3411 and lost its support. IGTFX , Also the MACD indicator may denote further bearish movements. On the other hand-side the falling negative DMI may indicate less power on the downside.IGTFX ,

IGTFX , Intraday Support & Resistance (Daily)Support Levels around IGTFX , Resistance Levels around
1.3243 1.3411
1.3113 1.3743
N/A 1.4011
EUR/CHF (1 Hour)

IGTFX , The EUR/CHF has been trading close to a bearish trend-line and touched a new all-time low this week. IGTFX , At this low level it seems that the currency pair tries to build a new basement and rebounded near to the first bearish trend-line. IGTFX , The short-term moving average (yellow-line) reversed once again and if it could cross its long-term counterpart it may herald further bearish movements. IGTFX , On the other hand-site the Stochastic could suggest increasing bull’s power.IGTFX ,



IGTFX , Intraday Support & Resistance (H1)Support Levels around Resistance Levels around
1.4260 1.4292
1.4234 1.4303
N/A 1.4329
IGTFX

 

[igtfx.research]

IGTFX IGTFX technical analysis , The EU leaders found a joint solution for Greece debt difficulties at a summit on Thursday evening finally. IGTFX IGTFX It remains to be seen if that would help to stabilize the EUR. IGTFX However, we wish you a successful trading day and have a nice weekend. IGTFX

IGTFX Market Review – IGTFX Fundamental Perspective

IGTFX Before the EU summit yesterday evening the EUR extended its losses versus the USD touching its lowest level at 1.3268. IGTFX Weeks of speculation and uncertainty how the euro-nations could help Greece for the case of illiquidity came yesterday evening to an end as the leaders of all 16-euronations endorsed a joint proposal of France and Germany for a mix of IMF and bilateral loans. IGTFX , Each country would provide non-subsidized loans to Greece based on its stake in the ECB, a statement said. IGTFX , Altogether Europe would provide more than half the loans and the International Monetary Fund brings the rest. IGTFX , Nevertheless the loans will only be paid if Greece has no more options at the market to refinance its debts. IGTFX , Every euro-nation needs to validate this fact and have a veto. IGTFX , After the summit the EUR rose versus 14 of its 16 most-traded counterparts as Jean-Claude Trichet, President of the ECB said that he was “happy” that the region found a solution. IGTFX , The EUR/JPY gained yesterday for the second day to 123.90 at the highest level while the EUR/GBP closed nearly unchanged at 0.8961. IGTFX , The JPY strengthened from a 10-month low against the USD on speculation that Japanese exporters took advantage of its largest weekly loss this year to purchase the currency before the fiscal year will ends next week. IGTFX , Japan’s consumer prices declined for the 12th month in February, the statistic bureau in Tokyo said today. Prices excluding fresh food slid 1.2 percent from a year earlier. The GBP/USD declined as U.K. IGTFX , Chancellor of the Exchequer Alistair Darling said that the revised down his growth forecast for 2011, in line with the Bank of England forecast. IGTFX ,
IGTFX , The NZD climbed versus the JPY as the national trade surplus widened in February after rising commodity prices and a seasonal increase in farm production stoked exports. IGTFX , The AUD/USD heading for the first weekly loss this month and traded near the lowest level since March 9th on concern the Greece rescue package may curb demand for the so called higher yielding assets. IGTFX ,

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


EUR/USD (1 Hour)

IGTFX , During the Europe session the currency pair fell near to its daily support level around 1.3243, as shown in the report yesterday, before the EUR/USD recovered in the late U.S. trading hours. IGTFX , From the point of recovery the short-term moving average reversed its movement and seems to cross its long-term counterpart shortly. IGTFX , This maybe boosts the bulls and could be the beginning of an attack to the bearish trend-line. IGTFX , The ADX may show that the bearish power is nearly zero. IGTFX ,

IGTFX , Intraday Support & Resistance (H1)Support Levels around Resistance Levels around
1.3310 1.3324
1.3295 1.3375
1.3271 1.3435

EUR/JPY (4 Hours)

IGTFX , The EUR/JPY has been moving in a zigzag movement. IGTFX , As you can see the currency pair fell this week near to the March opening until it rebounded again. IGTFX , But now it seems that the bulls failed to cross the resistance around 123.49 and a long roving Doji may suggest a trend-reversal. IGTFX , Also the Commodity Channel Index may indicate a bearish trend as it crossed its +100 line yesterday.

IGTFX , Intraday Support & Resistance (H4)Support Levels around Resistance Levels around IGTFX ,
122.80 123.49
122.18 123.96
121.54 124.53

 

[igtfx.research]

IGTFX technical analysis, Today, we are looking to report about the JPY, IGTFX , AUD, EUR and USD. We are also expecting a lot of economic data this week, IGTFX , which could be important indicators for the currency movements. IGTFX , Anyways, we hope you had a great weekend and wish you a nice start in the new trading week. IGTFX ,

IGTFX , Market Review – IGTFX , Fundamental Perspective
IGTFX , The JPY dropped versus most of its major counterparts as signs the global economic recovery is gathering momentum, IGTFX , which sparked demand for higher yielding assets. IGTFX , The USD climbed towards an 11-week high versus the JPY before reports this week, IGTFX , which are from economists expected may show that U.S. IGTFX , labor market is improving. IGTFX , According to a survey, the U.S. IGTFX , may have added 190,000 jobs in March, which would be the most since March 2007. IGTFX , The EUR/USD climbed with a gap and touched the resistance level at 1.3464 before pulling back to 1.3435. IGTFX , The JPY climbed against almost all the major currencies including the CHF after it reached a high at 87.45, IGTFX , which was the highest peak since the end of January. IGTFX ,

IGTFX , The AUD also gained after expectations that the Reserve Bank of Australia may lift its benchmark interest rate to rein inflation. IGTFX , Australia’s retail sales climbed 0.3% in February, after gaining 1.2 percent the previous month, according to a median forecast of economists. IGTFX , Australia’s central bank will hold its next policy meeting on April 6th. IGTFX , The AUD/JPY climbed towards its highest level since the middle of January after it boosted over 60 pips reaching a high at 84.27. IGTFX , The strong AUD also climbed against the USD after it crossed its resistance level around 0.9060 and left the bearish trend channel. IGTFX , The EUR/AUD fell back after it reached a high at 1.4948, the highest point since March 17th.IGTFX ,

IGTFX , The EUR strengthened for a fourth trading day against the JPY after concern about Greece’s financial situation abated and speculation that the 16-nation region’s economic recovery could get derailed were reduced. The EUR/JPY pulled back a bit after it gained to a high at 124.97, IGTFX , which is a resistance level from March 15th and February 22nd. It climbed for a second day against the GBP after it reached a high at 0.9039.

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


IGTFX , EUR/USD (1 Hour)

IGTFX , After falling along the bearish pitch and reach a low around 1.3266, the EUR/USD pulled up and started a bullish phase along an upward trend line. IGTFX , After it crossed the upper line of the downward pitchfork, the pair reached a new high near 1.3461 which is very close to its resistance level from March 22nd. IGTFX , If the market cross the resistance level around 1.3464, it may continue its bullish phase along the upward trend line. IGTFX ,
IGTFX , Intraday Support & Resistance IGTFX , (Daily)Support Levels around Resistance Levels around
1.3372 1.35
1.3325 1.3544
1.3266 1.3567

IGTFX , USD/JPY (1 Hour)

IGTFX , After unexpectedly rising to its highest peak since the beginning of the year, the USD/JPY pulled down a bit and is currently moving close to the support level around 92.30. As you can see, IGTFX , the Bollinger Bands are signalizing a direction change while they are moving close together. If the market breaks the support line around 92.30, IGTFX , the market may recover back from its abrupt increase. IGTFX ,

IGTFX , Intraday Support & Resistance IGTFX , (H1)Support Levels around IGTFX , Resistance Levels around
92.3 92.66
92.1 92.8
91.74 92.93

 

[igtfx.research]

IGTFX technical analysis, South pacific markets will be on the main focus in our report today. IGTFX , The higher-yielding NZD and AUD performed huge monthly profits against lower-yielding pairs like the USD and the JPY. IGTFX ,

IGTFX , Nevertheless, IGTFX , we wish you a nice and successful trading day!


IGTFX , Market Review – IGTFX , Fundamental Perspective

IGTFX , The NZD gained to its highest level since the middle of January at 65.93 IGTFX , against the JPY before a government report showed that the nations’ home-building approvals gained in February for the first time in three months. Permits to build homes in IGTFX , New Zealand increased 5.9 percent in February, IGTFX , which pushed speculations that residential construction will help accelerate the nations’ economic growth this year and spurs the central bank to raise its benchmark interest rate. IGTFX , The AUD gained over its resistance level from the end of February before reports tomorrow, IGTFX , are expected to show that retail sales gained 0.3 percent in February and building approvals rose 2.1 percent, IGTFX , according to surveys of economists. IGTFX , IGTFX , A lot of statistics and surveys give also a sign IGTFX , that the Reserve Bank of Australia will increase its target rate on the coming policy meeting on April 6th.IGTFX ,

IGTFX , The NZD has gained for a fourth day versus the USD, IGTFX , trading around 0.7100 while it fell for a second day against the strong EUR, coming back from a high at 1.9018. IGTFX , The NZD gained 1.6 percent versus the USD this month while the AUD/USD climbed 2.4 percent. Against the JPY, IGTFX , the NZD and the AUD added a 5.3 percent and a 6.1 percent monthly-gain. IGTFX , Benchmark interest rates are 4 percent in Australia and 2.5 percent in New Zealand, IGTFX , compared with 0.1 percent in Japan and as low as zero in the U.S., IGTFX , spurring demand to the South Pacific nation’s higheryielding assets.IGTFX ,

IGTFX , The JPY extended its gains from its almost three-month low versus the USD after Japan’s industrial production fell in February IGTFX , and the unemployment rate held at the lowest level since March 2009. IGTFX , The Jobless rate stayed at 4.9 percent after two monthly declines. IGTFX , Separate government reports today showed a 0.5 percent drop in February house spending, IGTFX , which was the first decline in seven months. IGTFX , The USD/JPY fell to a low near 92.12 after it reached a daily high around 92.95 last Thursday.IGTFX ,

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

NZD/JPY (1 Hour)

IGTFX , Since March 24th the NZD/JPY has been moving above a bullish Fibonacci fan. IGTFX , After recovering below the resistance level around 65.65, the pair reached the upper level of the fan for the second time. IGTFX , As you can see, IGTFX , the MACD may still signalize a bearish recovery. IGTFX , If the pair enters the Fibonacci fan, we might see further falls towards the support levels around 65.11 and 64.85. IGTFX ,

IGTFX , Intraday Support & Resistance (1 Hour) Support Levels around Resistance Levels around . IGTFX ,
65.11 65.65
64.85 65.75
64.5 65.95

EUR/JPY (Daily)

IGTFX , Since the beginning of the year, the EUR/JPY has been falling along a downward Fibonacci fan. IGTFX , As we can see, IGTFX , the market reached the horizontal resistance around 125.00 for the third time after it entered back the upper area of the fan last week. IGTFX , If the market doesn’t break the resistance line around 125.00 but break the Fibonacci fan, IGTFX , it might continue it’s sideways movement below the resistance point. IGTFX , If the pair not even breaks the fan, we might see further bearish movements. IGTFX ,



Intraday Support & Resistance (Daily) Support Levels around Resistance Levels around
121.9 125
121 126.35
120.1 127.25

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[igtfx.research]

IGTFX technical analysis Market Review – igtfx , Fundamental Perspective

igtfx , The GBP gained for a third day versus the USD after reports showed the U.K. igtfx , gross domestic product increased more than expected in the fourth quarter while house-prices grew as well. igtfx , The GBP performed its biggest gain since October versus the EUR as the Office for the National Statistics published that the U.K. igtfx , economy grew 0.4 percent in the last three months of 2009, compared with a previous estimate of 0.3 percent. igtfx , The GBP gained versus the JPY as well after it showed its sixth daily gain and reached its highest point since February 23rd. igtfx , The Nationwide Building Society said the average cost of a home rose 0.7 percent from February igtfx , and 9 percent from the last year. igtfx , The GBP/JPY climbed to a high near 140.63 while the EUR/GBP has fallen to a low around 0.8878. igtfx ,

igtfx , The AUD has fallen against the igtfx , USD and the igtfx , igtfx , NZD after retail sales and home-building approvals unexpectedly fell in February, igtfx , which decreased pressure on the central bank to raise the benchmark interest rate next week. igtfx , Australian retail sales fell 1.4 percent in igtfx , February while the median forecast of 19 economists expected a 0.3 percent increase. igtfx , The nations’ building approvals in February fell 3.3 percent while economists expected a 2.1 percent increase. igtfx , Anyway, igtfx , the AUD/USD fell back from its one-week high and reached a low near 0.9140 while the AUD/NZD fell over 50 pips, igtfx , touching a low by 1.2879. igtfx ,

igtfx , The JPY fell to its lowest level since January 12th against the EUR as signs of a global recovery pushed demand for Japan’s currency as a refuge. igtfx , The JPY fell against all 16 of the major currencies before an industry report today, is expected to show that U.S. companies added jobs for the first time since January 2008. igtfx , The EUR/USD fell for a second day touching a low near 1.3392 while the EUR/JPY extended its gains to its high from yesterday around 125.45. igtfx ,

igtfx , Daily Technical Analysis - igtfx , Our Focus Currencies for Today


AUD/CAD (Daily)

igtfx , Since the beginning of November, igtfx , the AUD/CAD has been falling along a bearish trend line and a support level around 0.9240. igtfx , As we can see, igtfx , the market pulled back after it tested the price above the long-term bearish trend line. igtfx , Furthermore the Commodity Cannel Index may signalize an overbought market. igtfx , This might be a sign for a continuing bearish trend towards the support around 0.9240. igtfx ,
igtfx , Intraday Support & Resistance igtfx , (Daily)Support Levels around Resistance Levels around igtfx ,
igtfx , 0.924 igtfx , 0.9385
igtfx , 0.9194 igtfx , 0.942
igtfx , N/A igtfx , 0.945

GBP/USD (4 Hour)

igtfx , After breaking the downward trend line on March 26th, igtfx , the GBP/USD gained until it reached the horizontal resistance level around 1.5115. igtfx , Williams’ Percent Range is still moving above the -20 level. The Indicator already reached a high around the -6.04 level, igtfx , which is the resistance from the middle of March and February. igtfx , Nevertheless, igtfx , a break though the level around -20 could be a short signal. igtfx ,
igtfx , Intraday Support & Resistance igtfx , (4 Hour)Support Levels around Resistance Levels around igtfx ,
igtfx , 1.4995 igtfx , 1.5115
igtfx , 1.4925 igtfx , 1.52
igtfx , 1.487 igtfx , 1.536

 

[igtfx.research]

IGTFX , Market Review – IGTFX , Fundamental Perspective

IGTFX , The AUD gained and reached almost its strongest level since January against the JPY on speculation that investors bought higher-yielding assets on increasing signs of a global economic recovery. IGTFX , The NZD gained the fifth day versus the USD after the International Monetary Fund commentated that New Zealand’s currency overvalued and it may pull down. “Our estimates suggest the currency is presently overvalued by 10 percent to 25 percent,” the IMF said in its statement. IGTFX , “Part of the overvaluation may be temporary and the exchange rate may depreciate as IGTFX , the interest-rate IGTFX , differential narrows with eventual tightening by the U.S. Federal Reserve.” IGTFX , Benchmark interest rate is 2.5 percent in New Zealand while Japan’s rate stays at 0.1 percent and U.S.’ interest rate is near zero. IGTFX , The NZD/JPY fell back after it reached the resistance level around 66.30. IGTFX , It reached a day-low at 65.75 while the AUD/JPY came back after it extended gains towards its highest point around 86.20. IGTFX ,

IGTFX , The USD/JPY climbed to its highest level since the beginning of the year before a report today is expected to show that U.S. IGTFX , employers added jobs the most since three years. The USD/JPY reached a high near 93.62, IGTFX , which is the highest level since January 7th. Today, the USD gained also against the NZD after it dropped yesterday for the fifth time. IGTFX , The pair reached a low around 0.7042 after it opened at 0.7042.IGTFX ,

IGTFX , The CAD climbed to its highest level in almost two weeks against the USD after an economic report showed that the nation grew at the fastest pace in three years in January. IGTFX , The gross domestic product increased 0.6 percent from December, IGTFX , which was the fifth straight rise and the biggest since December 2006, Statistics Canada published in Ottawa. IGTFX , The USD/CAD fell for a fourth day after it touched a day-low near 1.0136. TIGTFX , he CAD/JPY reached a record high around 92.32, IGTFX , which was its highest peak since October 2008. The CAD/CHF pulled up from its support around 1.0330 and reached a high by 1.0396.IGTFX ,

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

NZD/JPY (Daily)

IGTFX , Since February 25th, the NZD/JPY has been moving in a bullish trend channel. IGTFX , After touching the lower line of the channel, it pulled up and reached its resistance level around 66.30. As we can see, IGTFX , the CCI indicator reached its resistance level near 160, which could be a signal for an overvalued NZD.IGTFX ,

IGTFX , Intraday Support & Resistance IGTFX , (Daily)Support Levels around Resistance Levels around. IGTFX ,
IGTFX , 64.85 IGTFX , 66.3
IGTFX , 62.9 IGTFX , 66.85
IGTFX , 60.95 IGTFX , 68.

USD/JPY (Daily)

After breIGTFX , aking the resistance level around 92.20, the USD/JPY extended its IGTFX , upward trend and reached finally the level around 93.40, which is the highest since January. In the meantime, IGTFX , the RSI stayed right below the resistance level at 70, which may indicate an overbought market. IGTFX , If the market doesn’t break the resistance level around 93.40, IGTFX , we might see a pull-back towards the next support level which could be around 92.20.IGTFX ,



IGTFX , Intraday Support & Resistance IGTFX , (Daily)Support Levels around Resistance Levels around.IGTFX ,
IGTFX , 92.2 IGTFX , 93.4
IGTFX , 91.2 IGTFX , 95.45
IGTFX , 88.45 IGTFX , N/A

 

[igtfx.research]

IGTFX technical analysis, Yesterday, the Australian central bank increased its benchmark interest rate to 4.25%. IGTFX, We are going to report about the IGTFX, AUD and the price influence of the decision. IGTFX, Furthermore we will report about the EUR, IGTFX, USD and the NZD. IGTFX, As Always, IGTFX, we wish you much success in trading today. IGTFX,
IGTFX, Market Review IGTFX, Fundamental Perspective
IGTFX, The Australian central bank increased its benchmark interest rate to 4.25%. IGTFX, The AUD traded near its highest level against the EUR and the USD. IGTFX, The USD dropped to 0.9275 and the EUR traded near 1.4441 after it reached 1.4410, IGTFX, the weakest level since the launch of the EUR/AUD cross rate. IGTFX, The Reserve Bank Governor Glenn Stevens raised the benchmark to 4.25% and said that the rates need to be closer to average amid an expanding domestic economy. IGTFX, The worlds best performing major currency from the past year will also strengthen further as commodity prices rise. IGTFX, The losses of the NZD versus the IGTFX, AUD were limited after Auckland based Fonterra Cooperative Group Ltd., the world`s largest dairy exporter, said that milk powder prices jumped to the highest level in 21 months. IGTFX, The AUD rose to 1.3153 against the NZD. New Zealands benchmark interest rate is 2.5%, IGTFX, compared with 0.1% in Japan and as low as zero in the U.S., IGTFX, many investors find the South Pacific nations very attractive for their investments. IGTFX,

IGTFX, The USD rose the most in almost two weeks versus the EUR as IGTFX, Greece tried to end speculation it may be having doubts about a plan that provides the European Union and International Monetary Fund to support in refinancing its debt. The EUR fell 0.6% and traded around 1.3399. IGTFX, Furthermore the EUR fell versus most of its 16 major counterparts after a report that Greece wants to bypass IGTFX, IMF involvement if it needs assistance because the conditions would be too stringent. IGTFX, The nations finance minister denied it. IGTFX, The JPY strengthened 1.2% against the EUR and reached 125.67. IGTFX,
IGTFX, The EUR weakened 5.7% against the JPY this year and 6.5% versus the USD on concern that Greece will struggle with its financial shortfall. IGTFX, The deficit last year was 12.7%. More than four times higher as the European Union limit. IGTFX,
IGTFX, Daily Technical Analysis - IGTFX, Our Focus Currencies for Today

AUD/USD (1 Hour)

IGTFX, Since the end of March, the AUD has been trading in a bullish trend channel against the USD. IGTFX, Yesterday, IGTFX, the currency pair touched the upper line of the channel simultaneously with its resistance near IGTFX, 0.9282 and the prices rebounded. IGTFX, Also the Stochastic indicator may support a bearish trend with a breakthrough of the signal line from the top, f IGTFX, or the next days. IGTFX, Next support could be around 0.9250. IGTFX,
IGTFX, Intraday Support & Resistance (H1) Support Levels around IGTFX, Resistance Levels around IGTFX,
IGTFX, 0.925 IGTFX, 0.9282
IGTFX, 0.9215 IGTFX, N/A
IGTFX, 0.918 IGTFX, N/A

EUR/AUD (1 Hour)

IGTFX, With the end of March, the currency pair traded in a bearish movement. IGTFX, Recently, IGTFX, the EUR touched its weakest level since the launch of the EUR/AUD cross rate. IGTFX, At the moment it looks like there wouldnt be further supports for the EUR. IGTFX, Furthermore the Force indicator could support a continuing downtrend if it may not break the signal line. IGTFX,
IGTFX, Intraday Support & Resistance (H1) IGTFX, Support Levels around Resistance Levels around IGTFX,
IGTFX, N/A IGTFX, 1.4517
IGTFX, N/A IGTFX, 1.4684
IGTFX, N/A IGTFX, 1.4758

 

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IGTFX technical analysis, IGTFX, The GBP dropped versus 11 of its 16 most traded counterparts and the AUD could continue its bullish trend versus the most counterparts. IGTFX, Furthermore we are going to report about some economic data from the European Zone. IGTFX,
IGTFX, Market Review IGTFX, Fundamental Perspective
IGTFX, A report in the U.K. showed yesterday, IGTFX, that the growth for IGTFX, U.K service companies is weaker than expected. IGTFX, This increases speculation that the economic recovery runs slower than in other European countries. IGTFX, The GBP fell against the USD 0.4% and traded near 1.5211. IGTFX, Furthermore the GBP snapped a seven day gain versus the EUR and dropped to 0.8755. IGTFX, Also the other major counterparts could climb against the GBP. IGTFX, There are a lot of economic data which let the GBP shrank. IGTFX, The service gauge slipped to 56.5 in March from 58.4 in February. IGTFX, A separate survey showed that the Bank of England may keep its main interest rate at a record low of 0.5% tomorrow. IGTFX, The next increase might happen in November or December this year and then up to 0.75%. IGTFX, The confidence about sales at manufacturers dropped in the first quarter. IGTFX,

IGTFX, The AUD could continue its upward trend today and traded at almost its highest level in more than 18 months versus the JPY after the Bank of Japan kept its benchmark rate near zero. IGTFX, The JPY dropped 0.5% and reached 87.52, IGTFX, the highest level for the AUD since September 2008. IGTFX, Furthermore the EUR and the USD couldnt increase versus the AUD and traded at the same level as yesterday. IGTFX,

IGTFX, The NZD traded unchanged against the USD and the JPY. IGTFX, The NZD reached 0.7076 versus the USD and 66.22 against the JPY. IGTFX,

IGTFX, In Europe, the economy unexpectedly stagnated in the fourth quarter of the last year as the companies cut spending more than expected. The European Union`s statistics office announced yesterday, IGTFX, that the gross domestic product in the 16-nation euro region remained unchanged compared with the third quarter, IGTFX, when it rose 0.4%. IGTFX, Corporate investments dropped 1.3% instead of the expected 0.8%. IGTFX,



IGTFX, Daily Technical Analysis - IGTFX, Our Focus Currencies for Today
EUR/GBP (1 Hour)

IGTFX, As you can see, the EUR is trading in a bearish trend channel versus the GBP. Currently, IGTFX, the currency pair broke its support level around 0.8766 and it looks like there wouldnt be further supports. IGTFX, Only an increasing Momentum may indicate a pull back for the EUR. IGTFX,

IGTFX, Intraday Support & IGTFX, Resistance (H1) IGTFX, Support Levels around Resistance Levels around
IGTFX, N/A IGTFX, 0.8808
IGTFX, N/A IGTFX, 0.885
IGTFX, N/A IGTFX, 0.889


GBP/USD (1 Hour)

IGTFX, Since the last two weeks, IGTFX, the currency pair has been trading in a bullish movement. IGTFX, Two days ago, IGTFX, the GBP touched its upper Fibonacci retracement and the prices rebounded. IGTFX, Now it could be that the prices will fall to its important Fibonacci line near 1.5134 (61.8%) again. IGTFX, A crossing Stochastic Indicator through the signal line from the bottom may indicate a trend reversal. IGTFX,

IGTFX, Support & Resistance IGTFX, (H1)Support Levels around Resistance Levels around. IGTFX,
IGTFX, 1.5135 IGTFX, 1.5276
IGTFX, 1.5079 IGTFX, 1.5317
IGTFX, 1.4986 IGTFX, N/A