Research
Daily Forex Analysis – May 15, 2012
by forexcycle.com USDJPY Analysis. After touching the upper line of the price channel on 4-hour chart, USDJPY pulls back from 80.18. The fall could possibly be resumption of the downtrend from 84.17 (Mar 15 high), further decline towards 78.00 would likely be seen over the next several days.
US Dollar Targets Fresh Highs as Volatility Surges
The US Dollar (ticker: USDOLLAR ) trades to fresh highs against the Euro and other forex counterparts, and high volatility expectations suggest the USD may continue to hit fresh highs (EURUSD lows).
US Dollar Takes Back Overnight Losses as Greece Heads to New Elections
After selling off to start the week, higher yielding currencies, such as the Australian Dollar, rallied ahead of the US cash equity open as profit taking set in after better than expected European growth data. However, with Greece’s political woes lingering, the EURUSD dropped to its lowest level since January 18.
USD/JPY – Inverted Head and Four Shoulders?
Forex Technical Update Previous: USD/JPY Pushes Above 80.00; Forms an Inverted Head and Shoulders (5/13) USD/JPY4H Chart 5/15/2012 10.29AM EDT USD/JPY’s inverted head and shoulders attempt to start the 5/14 trading week did not work out. However the subsequent drop basically respected the shoulder level near 79.70 . Into the 5/15 US trading session, the USD/JPY is pushing above 80.00 again. The inverted head and shoulders pattern is still valid, but this time with 2 shoulders on each side
Euro Attempting to Recover on Technical Bounce and Solid Data
A welcome reprieve for risk correlated assets so far on Tuesday as oversold technical studies and upbeat news help to inspire the risk on trade…
Gold, Silver Rise as US Dollar Pulls Back After Eurozone GDP Data
Gold and silver rose as the US Dollar retreated amid recovering risk appetite after a firm set of Eurozone GDP figures. Crude oil and copper have scope to catch up.
Dollar, Yen Vulnerable on Euro Zone and US Economic Data
The safe-haven US Dollar and Japanese Yen may correct lower as a large batch of Eurozone and US economic data threatens to spark profit-taking.
Euro Short Hits First Target, Looking to Sell Yen vs US Dollar
Our Euro short position has hit its first profit target and will continue to hold short while looking for opportunities to buy the US Dollar against the Yen.
Euro Testing Key Support in the 1.2800 Area; Look for Corrective Bounce
Markets remain extremely pressured into Tuesday and although technical studies warn of correction, there are no official signs of such price action…
EUR/NOK Lags Other Scandi Crosses But Should Still Push Higher
A daily overview of technical developments in the regional currencies. Take a look inside for the latest scoop on the Norwegian Krone and Swedish Krona.
Dollar Closes at a Two Month High, Critical Bull Trend Within Reach
Further progress towards deleveraging risky positions, rising volatility as the trend takes traction and a growing strain of the very framework of global financial markets is suiting the dollar well.
S&P 500 Breaks Key Support, US Dollar Holds Below April Top
The S&P 500 cleared major technical support to point the way lower while another strong advance from the US Dollar fell short of overcoming April’s swing top.
