Technical analysis for 29.08
EURUSD
The pair’s resistance 1.25690, support is 1.23907.
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 has declined to the Moving Average (500) at 1.03535. If this level is broken the pair will decline to 1.02558.
Resistance: 1.04407, 1.05332, 1.06164
Support: 1.03535, 1.02558, 1.01744
Market review for 28.08.12: The results of the auction for Spain bonds supported the Euro.
Asian and European trading sessions:
Euro: After updating its week’s low at $1.2465 level during the Asian session the EUR / USD pair grew today. The positive background based on the fact that Spain sold three-month and six-month treasury bills for a total of 3.607 billion euros against the planned 2.5-3.5 billion euro supported the currency’s trading dynamics. Also, the speculation that the European Central Bank is preparing measures to combat debt crisis in Euro zone helped for euro to grow for the first time in three days against the dollar and the EUR / USD pair rose to a high of $ 1.2560 during the European session.
U.S. Dollar: The dollar strengthened during the Asian trading session ahead of the speech of Federal Reserve Chairman Mr. Ben Bernanke on August 31 in Jackson Hole. The markets also expected today the publication of the index of consumer confidence in the U.S., the result of which was likely to show the best value since April.
British Pound: The GBP / USD pair fell to $ 1.5752 during the Asian session on speculations that falling house prices (the report was released on August 24 showed that UK GDP fell by 0.5%, compared with a fall of 0.7%) will push the economy deeper into recession, increasing the likelihood that the Bank of England will buy more assets to stimulate economic growth. The GBP / USD pair on the next following session was able to show a slight increase and came back to the opening of the day area.
Japanese Yen: The yen strengthened against most major currencies after for the first time in 10 months the Japanese government has downgraded estimates for its own economy. The USD / JPY pair declined to the level of Y78.50 during the Asian session and continued more than that on the European one.
Australian dollar: The Australian dollar touched its lowest level in a month, $1.344 area on the background of concerns that global economic growth will continue to be weak. The report on new home sales in Australia also provided some negative due to result that showed the drop in the number of new dwellings sold in the past month.
American trading session:
Euro: The currency slightly grew after the European Union President, Mr. Herman Van Rompuy noticed that the rescue fund in the region ready for quick action in order to help to Spanish banks. Meanwhile, the Prime Minister of Spain said that Spanish banks will need less than 100 billion euros for resolving the most important problems of the bank sector.
U.S. Dollar: The dollar index, which tracks the dollar against six major currencies, fell by 0.3% to 81.25 very close to its lowest level of 81.22 since Aug. 20.
Gold: The cost of the August gold futures closed at 1666.8 dollars per ounce today on the COMEX. The prices stabilized near four-month high ahead of the speech of Federal Reserve Chairman Mr. Ben Bernanke on August 31 in Jackson Hole regarding the U.S. monetary policy.
Silver: After the last week rally, the cost of the August gold futures closed at 30.86 dollars per ounce today on the COMEX.
Oil: The October WTI Oil futures grew today more than 1% after the yesterday’s report of Bureau of Safety and Environmental Control showed the possibility of closing of 78% of oil production platforms due to the approaching storm called “Isaac”. The U.S. President Mr. Barack Obama said today at the White House that the Federal Emergency Management Agency will stay in the Gulf of Mexico for a week, and provide new information regarding the storm. The October WTI futures price strengthened to the $ 96.43 per barrel area.
EURUSD
The pair’s resistance 1.25690, support is 1.23907.
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 has declined to the Moving Average (500) at 1.03535. If this level is broken the pair will decline to 1.02558.
Resistance: 1.04407, 1.05332, 1.06164
Support: 1.03535, 1.02558, 1.01744
Market review for 28.08.12: The results of the auction for Spain bonds supported the Euro.
Asian and European trading sessions:
Euro: After updating its week’s low at $1.2465 level during the Asian session the EUR / USD pair grew today. The positive background based on the fact that Spain sold three-month and six-month treasury bills for a total of 3.607 billion euros against the planned 2.5-3.5 billion euro supported the currency’s trading dynamics. Also, the speculation that the European Central Bank is preparing measures to combat debt crisis in Euro zone helped for euro to grow for the first time in three days against the dollar and the EUR / USD pair rose to a high of $ 1.2560 during the European session.
U.S. Dollar: The dollar strengthened during the Asian trading session ahead of the speech of Federal Reserve Chairman Mr. Ben Bernanke on August 31 in Jackson Hole. The markets also expected today the publication of the index of consumer confidence in the U.S., the result of which was likely to show the best value since April.
British Pound: The GBP / USD pair fell to $ 1.5752 during the Asian session on speculations that falling house prices (the report was released on August 24 showed that UK GDP fell by 0.5%, compared with a fall of 0.7%) will push the economy deeper into recession, increasing the likelihood that the Bank of England will buy more assets to stimulate economic growth. The GBP / USD pair on the next following session was able to show a slight increase and came back to the opening of the day area.
Japanese Yen: The yen strengthened against most major currencies after for the first time in 10 months the Japanese government has downgraded estimates for its own economy. The USD / JPY pair declined to the level of Y78.50 during the Asian session and continued more than that on the European one.
Australian dollar: The Australian dollar touched its lowest level in a month, $1.344 area on the background of concerns that global economic growth will continue to be weak. The report on new home sales in Australia also provided some negative due to result that showed the drop in the number of new dwellings sold in the past month.
American trading session:
Euro: The currency slightly grew after the European Union President, Mr. Herman Van Rompuy noticed that the rescue fund in the region ready for quick action in order to help to Spanish banks. Meanwhile, the Prime Minister of Spain said that Spanish banks will need less than 100 billion euros for resolving the most important problems of the bank sector.
U.S. Dollar: The dollar index, which tracks the dollar against six major currencies, fell by 0.3% to 81.25 very close to its lowest level of 81.22 since Aug. 20.
Gold: The cost of the August gold futures closed at 1666.8 dollars per ounce today on the COMEX. The prices stabilized near four-month high ahead of the speech of Federal Reserve Chairman Mr. Ben Bernanke on August 31 in Jackson Hole regarding the U.S. monetary policy.
Silver: After the last week rally, the cost of the August gold futures closed at 30.86 dollars per ounce today on the COMEX.
Oil: The October WTI Oil futures grew today more than 1% after the yesterday’s report of Bureau of Safety and Environmental Control showed the possibility of closing of 78% of oil production platforms due to the approaching storm called “Isaac”. The U.S. President Mr. Barack Obama said today at the White House that the Federal Emergency Management Agency will stay in the Gulf of Mexico for a week, and provide new information regarding the storm. The October WTI futures price strengthened to the $ 96.43 per barrel area.