Daily Technical Analysis by ACFX

[johnathan]

March 14th, 2012

Currencies EUR/USD The dollar strengthened against most of its major counterparts after Federal Reserve policy makers raised their assessment of the U.S. economy and refrained from additional monetary easing.
The U.S. currency added 0.1 percent against the euro to $1.3074.

USD/JPY The yen slid to an 11-month low versus the greenback as the yield spread between two-year debt in the U.S. debt and Japan to widened to the most since July, making dollar-based assets more attractive. The yen also dropped as Asian stocks extended a global rally, damping demand for the lower-yielding currency.
The dollar rose 0.3 percent to 83.17 yen as of 1:49 p.m. in Tokyo, after reaching 83.21, the strongest level since April 18.

Commodities Oil traded near the highest price in two days in New York as investors speculated fuel demand may increase amid signs the U.S. economy is strengthening.
Crude for April delivery was at $106.83 a barrel, up 12 cents, in electronic trading on the New York Mercantile Exchange at 12:44 p.m. Singapore time.

Gold regained some strength on Wednesday on bargain hunting after prices dropped about 2 percent in the previous session, but a firmer U.S. dollar is likely to cap gains after the Federal Reserve vowed to keep interest rates low until 2014.
Gold added $1.21 to $1,675.96 an ounce by 0330 GMT after falling to a low of $1,661.99 on Tuesday, its weakest since late January. Gold rose to a record of around $1,920 in September on fears the euro debt crisis could stall global growth.
eur/usd
gbp/usd
usd/jpy
gold

 

[johnathan]

March 16th, 2012

Currencies

• EUR/USD The greenback is poised for a five-day advance against the euro before U.S. data today forecast to show industrial production increased and consumer sentiment improved.

o The dollar fetched $1.3084 per euro from $1.3080 yesterday and $1.3123 on March 9.


• USD/JPY The yen headed for a weekly drop against most major peers as signs of growth in the U.S. and prospects for further stimulus by the Bank Japan of prompted investors to seek higher-yielding assets.

o The yen was little changed at 83.58 per dollar as of 2:18 p.m. in Tokyo from the close yesterday, when it touched 84.18, the weakest level since April 13. The Japanese currency has fallen 1.3 percent this week, set for a sixth-straight decline.

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[johnathan]

March 16th, 2012

Commodities

• Oil advanced for the first time in three days in New York, trimming a weekly decline as investors bet that fuel demand will increase with an economic recovery in the U.S., the world’s biggest crude consumer.

o Crude for April delivery rose as much as 53 cents to $105.64 a barrel in electronic trading on the New York Mercantile Exchange. It was at $105.54 at 12:38 p.m. Singapore time. The contract yesterday dropped 32 cents to $105.11, the lowest since March 6. Prices are down 1.7 percent this week and 6.8 percent higher this year.

• Gold traders are the least bullish in two months after prices erased more than half of this year’s gain on speculation that a strengthening U.S. economy will dissuade the Federal Reserve from buying more debt.

o Gold fell to $1,655.04 an ounce in early trade before rebounding to $1,662.99 by 0222 GMT, up $5.26. The precious metal hit a low of $1,634.09 on Wednesday, its weakest since January 16, on fading expectations of more monetary easing in the United States.

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[johnathan]

March 16th, 2012

Equities

• Asian stocks swung between gains and losses as U.S. jobs and manufacturing data added to signs the world’s biggest economy is recovering. Gains were limited as Japanese exporters fell amid a rebound in the yen.

o The MSCI Asia Pacific Index fell 0.1 percent to 127.70 as of 2:39 p.m. in Tokyo, set to gain for 12 of the past 13 weeks. About as many stocks rose as fell, with only three of the gauge’s 10 industry groups advancing.

• European stocks climbed for a third day, extending the Stoxx Europe 600 Index’s highest level since July, as U.S. jobs and manufacturing data added to optimism the recovery in the world’s largest economy is gaining momentum.

o The Stoxx 600 (SXXP)rose 0.3 percent to 270.98 at the close of trading, after swinging between gains and losses at least 20 times today. The gauge has surged 11 percent this year amid optimism that the euro area will contain its sovereign-debt crisis and as U.S. economic data topped forecasts.

• U.S. stocks advanced, sending the Standard & Poor’s 500 Index above 1,400 for the first time in almost four years, as data showed manufacturing in the New York region unexpectedly increased and jobless claims declined.

o The S&P 500 advanced 0.6 percent to 1,402.60 at 4 p.m. New York time.
o The Dow Jones Industrial Average increased 58.66 points, or 0.4 percent, to 13,252.76, gaining for a seventh straight day, the longest winning streak in 13 months.

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[johnathan]

March 20th, 2012

Currencies
EUR/USD. The recovery in the U.S. economy and massive liquidity injections from major central banks have combined to drive a rally in share markets since late last year.
The dollar edged up 0.1 percent against most of its major traded currencies, while the euro held steady around $1.3230, after rising as high as $1.32659 on Monday.
That meant an owner of Greek CDS would be paid 78.5 cents on the euro, which analysts said was enough to compensate for the roughly 75 percent loss investors incurred on the country's debt restructuring.
The European Central Bank's (ECB) announcement that it put its bond-buying program on hold last week also encouraged traders to cover bets against the single currency.

USD/CAD The Canadian dollar weakened against the greenback on Tuesday, falling amid profit taking as investors viewed the greenback as increasingly oversold and snapped up the currency after it fell on lukewarm comments from a key Federal Reserve official. The pair fell during the Monday session as the oil markets gained for the day. The pair has fallen below the 0.99 support level.
eur/usd gbp/usd

 

[johnathan]

March 21th, 2012

Currencies EUR/USD. The euro advanced against the dollar and reached a four-month high versus the yen after Greece won parliamentary approval for a new international bailout, boosting demand for European assets.The 17-nation currency rose against most major peers before reports tomorrow forecast to show an expansion of services and factory output in Germany, Europe’s largest economy. The dollar weakened before Federal Reserve Chairman Ben S. Bernanke tells Congress that financial strains in Europe have eased, according to testimony prepared for delivery today. Demand for the yen was limited before data tomorrow projected to show Japanese exports declined for a fifth month. The European Central Bank's (ECB) announcement that it put its bond-buying program on hold last week also encouraged traders to cover bets against the single currency.

USD/CAD pair spiked quite nicely during the Tuesday session as the Saudis announced that they are able to increase output in the oil markets to help contain pricing. The Canadian dollar tends to follow the value of oil. By the end of the day however, we saw half of those gains given back.

Commodities Oil in NYMEX gained after data showed U.S. crude supplies shrank by 1.4 million barrels last week, according to the American Petroleum Institute. The Energy Department may say today that inventories climbed by 2.2 million barrels.

Gold prices edged higher on Wednesday after dropping nearly 1 percent in the previous
session, as a slightly weaker dollar came to the aid of buyers, while sluggish physical demand and an improving U.S. economic outlook capped gains.
The dollar edged down 0.3 percent against a basket of currencies. A cheaper USD makes dollar-priced commodities, including gold, more attractive to buyers holding other currencies.
Spot gold edged up 0.3 percent to $1,655.14 an ounce by 0241 GMT. U.S. gold gained half a percent to $1,655.40.
eur/usdgbp/usd usd/jpy gold

 

[johnathan]

March 23th, 2012
Currencies
EUR/USD rose up after Federal Reserve Chairman Mr. Bernanke said the U.S. economy is operating below its level prior to the financial crisis, and that increased household spending is needed to sustain the expansion.
Consumer spending is not recovered, it’s still quite weak relative to where it was before the crisis,” Bernanke said yesterday in his speech going in the history of the Fed that he plans to deliver at George Washington University. “In terms of debt and consumption and so on we’re still way low relative to the patterns before.”
Purchases of new homes in the U.S. probably rose in February to the highest level of the year. Sales, tabulated when contracts are signed, climbed 1.3 % to a 325,000 annual pace, the fastest since December 2010. That would mark the 5th gain in six months.
Existing-home purchases eased to a 4.59 million annual rate last month from a 4.63 million pace in January, the National Association of Realtors reported this week. Even with the decline, January and February sales marked the strongest start to a year since 2007.
USD/CAD Canadian Dollar had weakened against US Dollar for the first time in 2 weeks. It declined for a 3rd day as a report showed January retail sales grew at less than a third of the rate economists predicted. U.S. equities, crude oil and copper fell as the appetite for higher-yielding assets waned.
Canada’s dollar depreciated after reports on manufacturing in Europe and China fueled concern that global growth was slowing, spurring demand for the safest of assets
eur/usd gbp/usd usd/jpy gold

 

[johnathan]

Technical Analysis 8/22/2012

http://acfx.com/content/images/analysis/quick/August/2208/eurusd.gif

Pivots
R3 1.26711
R2 1.25790
R1 1.25254
Pivot Point 1.24333
S1 1.23797
S2 1.22876
S3 1.22340
Comments
Trend: Up
RSI: Below 50 and oversold
Bollinger Band: Neutral
http://acfx.com/content/images/analysis/quick/August/2208/gbpusd.gif


Pivots
R3 1.59315
R2 1.58675
R1 1.58254
Pivot Point 1.57614
S1 1.57193
S2 1.56553
S3 1.56132

Comments
Trend: Up
RSI: Above 50 and overbought
Bollinger Band: Neutral
http://acfx.com/content/images/analysis/quick/August/2208/usdjpy.gif

Pivots
R3 79.760
R2 79.639
R1 79.456
Pivot Point 79.335
S1 79.152
S2 79.031
S3 78.848
Comments
Trend: Down
RSI: Above 50 and overbought
Bollinger Band: Negative
http://acfx.com/content/images/analysis/quick/August/2208/usdchf.gif

Pivots
R3 0.98155
R2 0.97741
R1 0.97009
Pivot Point 0.96595
S1 0.95863
S2 0.95449
S3 0.94717

Comments
Trend: Down
RSI: Above 50 and overbought
Bollinger Band: Neutral