Forex

The negotiations regarding the Greek debt with investors are passing very hard.

The euro continued to strengthen against the dollar during the Asian trading session after German Chancellor Angela Merkel stated that Europe should be united in protecting the stability of the euro currency. The EUR / USD pair recorded its daily high at the $1.3194 level. Positive dynamics for the euro were also supported by the results of the auction of government bonds of France and Spain, where the demand for French bonds was pretty much high.

The Euro rallied on rumors and positive statistics.

During the Asian session the euro continued it’s started yesterday downtrend. The EUR / USD the declined to $1.3027, its today’s low. The market participants were expected a negative result of today's auction of Portugal government bonds. The European session started with a big rally of the euro. The currency ran during all session against almost all its main competitors after published report on the index of business activity in the manufacturing sectors of France, Germany and the EU, which was better than expected.

Currency pairs technical review (February 02, 2012)

EURUSD:The pair has risen to 1.31674. GBPUSD:The pair has MACD convergence that may support pair to start upwards corrections. The pair has risen to 1.58543. USDCHF:The pair has found support at 0.91079 and may roll back to Moving Average (500) at 0.93069. USDJPY:The pair has broken support 76.463 and aiming to 75.425. AUDUSD:The pair has broken triangle and aiming to 1.07739.

The unemployment in the EU reached the record level of 10.4%.

During the European session, the euro strengthened against the U.S. dollar to $1.3196 level. The support for the Euro currency was provided by the speech of the Prime Minister of Greece Mr. Papademos Lucas, who expressed his hope that an agreement with the European Union, the European Central Bank and the International Monetary Fund can be achieved by the end of the week. At the European trading session the Euro was pressured by the macroeconomic data, which was worse than expected and, therefore, reduced demand for risky assets.

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Currency pairs technical review (February 01, 2012)

EURUSD:The pair has declined to 1.30277. If the pair stays above this level the pair will rise to 1.33143. GBPUSD:The pair has MACD convergence that may support pair to start upwards corrections. The pair is aiming to 1.58543. USDCHF:The pair has found support at 0.91079 and rolling back to Moving Average (500) at 0.93069. USDJPY:The pair has broken support 76.463 and aiming to 75.425. AUDUSD:The pair has broken triangle and aiming to 1.07005.

The Euro fell on expectations of started today EU summit in Brussels

The Euro had correction against the U.S. dollar, after its five days growth. Market participants expected the EU summit which should have been started today in Brussels for the reason of conducting agreement to restructure the debt of Greece. The EUR/USD couple fell during the Asian session to $1.3145 area. The pressure on the single currency also had a lack of positive news on Greece's debt-reduction agreements with private investors.

Currency pairs technical review (January 31, 2012)

EURUSD: The pair has risen to 1.31674, above Fibonacci 38%. GBPUSD: The pair has MACD convergence that may support pair to start upwards corrections. USDCHF: On daily graph MACD divergence which might be a signal of downwards corrections. USDJPY: The pair has broken support 76.463 and aiming to 75.425.

Currency market weekly review (January 23 - January 27, 2012)

The euro fell at the beginning of the week on Monday’s Asian session amid continuing disagreement in the negotiations on restructuring the debt of the Greece. This week had very negative effect on the U.S. currency. The Greenback came under pressure on all of its competitors. After sales on Monday ,the Tuesday’s sessions though provided some positive support for the currency. The pound fell after the report of GDP in Britain on Wednesday, which showed decrease in the 4th quarter by 0.2 % when expectations of a decline were by only 0.1%.

The U.S. dollar was traded lower against almost all of its major competitors.

During the Asian trading session the EUR/USD pair traded in range $1.3094-$1.3132. Although, the Euro recorded today its new monthly high of $1.3182 during the European session, its growth was limited. The confidence of market participants that Greece government and private lenders will not be able to reach an agreement on Greek debt was pressuring the Euro currency. The EUR/USD retreated to $1.3150 level. The U.S. dollar was traded lower against almost all of its major competitors during both sessions on the background of yesterday’s decision of FOMC regarding the interest rate.

FOMC kept the interest rate unchanged, in the range of 0% -0.25 %

During the Asian session the EUR / USD the pair traded in a narrow range of $ 1.3015 -$ 1.3049. The European trading session showed its decline to $1.2930 level where the couple found its low of the daily. The confidence of market participants that Greece and private lenders will not be able to reach an agreement on debt relief fell along with the euro currency The Euro dropped against its major competitors.

Currency pairs technical review (January 26, 2012)

EURUSD:The pair has found support at Fibonacci 23% and aiming to the next Fibonacci level 38% at 1.31150 and the pair may rise to 1.31674. GBPUSD:The pair has MACD convergence that may support pair to start upwards corrections. First aim is at 1.54842, the second level at 1.56722. USDCHF:On daily graph MACD divergence which might be a signal of downwards corrections. The aim of correction can be at Moving Average (200) at 0.90279. USDJPY :The pair’s resistance 78.345, support 77.539. AUDUSD:The pair has broken triangle and has risen to 1.06164.

FOMC kept the interest rate unchanged, in the range of 0% -0.25 %

During the Asian session the EUR / USD the pair traded in a narrow range of $ 1.3015 -$ 1.3049. The European trading session showed its decline to $1.2930 level where the couple found its low of the daily. The confidence of market participants that Greece and private lenders will not be able to reach an agreement on debt relief fell along with the euro currency The Euro dropped against its major competitors.

Currency pairs technical review (January 26, 2012)

EURUSD: The pair has found support at Fibonacci 23% and aiming to the next Fibonacci level 38% at 1.31150 and the pair may rise to 1.31674. GBPUSD: The pair has MACD convergence that may support pair to start upwards corrections. USDCHF: On daily graph MACD divergence which might be a signal of downwards corrections. USDJPY: The pair’s resistance 78.345, support 77.539. AUDUSD: The pair has broken triangle and has risen to 1.06164.

The Bank of Japan lowered the forecast of the economic growth for next year

The euro stepped back from the three-week highs. The investors and traders were taken profits on their opened before positions on Euro currency. Moreover, many market participants took cautious positions and did not want to open any long positions on Euro currency against the background of the prolonged negotiations on Greek debt. The EUR /USD pair traded in a range of $1.2953 to $1.3061.

Currency pairs technical review (January 25, 2012)

EURUSD: The pair has found support at Fibonacci 23% and aiming to the next Fibonacci level 38% at 1.31150. GBPUSD: The pair has MACD convergence that may support pair to start upwards corrections. USDCHF: On daily graph MACD divergence which might be a signal of downwards corrections. USDJPY: The pair has broken 77.539 and aiming to 78.345.

The Asian financial markets celebrated a New Year.

The euro fell at the beginning of the Asian trading session amid continuing disagreement in the negotiations on restructuring the debt of the Greece. The EUR/USD pair dropped to its daily low of $1.2875, but then recovered to $1.2902 and continued traded mostly around $1.2890 level where finally found its support. Coming later, the European session provided positive trend dynamics for the Euro currency and the EUR / USD couple updated its two week high of $1.3045 level.

Currency pairs technical review (January 24, 2012)

EURUSD:The pair has found support at Fibonacci 23% and aiming to the next Fibonacci level 38% at 1.31150. GBPUSD:The pair has MACD convergence that may support pair to start upwards corrections. First aim is at 1.54842, the second level at 1.56722. USDCHF:On daily graph MACD divergence which might be a signal of downwards corrections. USDJPY:The pair is trying decline to 76.463. If this level is broken the pair will continue declining to 75.425. AUDUSD: The pair is trading in the triangle. The triangle’s upper level is 1.04407 (resistance), lower level is 0.99207 (support). The pair tried to break it and can roll back to the triangle’s line at 1.04407.

The Asian financial markets celebrated a New Year

The euro fell at the beginning of the Asian trading session amid continuing disagreement in the negotiations on restructuring the debt of the Greece. The EUR/USD pair dropped to its daily low of $1.2875, but then recovered to $1.2902 and continued traded mostly around $1.2890 level where finally found its support. Coming later, the European session provided positive trend dynamics for the Euro currency and the EUR / USD couple updated its two week high of $1.3045 level.

Currency pairs technical review (January 24, 2012)

EURUSD: The pair has found support at Fibonacci 23% and aiming to the next Fibonacci level 38% at 1.31150. GBPUSD: The pair has MACD convergence that may support pair to start upwards corrections. USDCHF: On daily graph MACD divergence which might be a signal of downwards corrections. USDJPY: The pair is trying decline to 76.463. AUDUSD: The pair is trading in the triangle.

Currency market weekly review (January 16 - January 20, 2012)

The European currency made another great attempt to recover against the U.S. dollar and rotate its well-established down trend. After reaching a new low of $1.2627 against the US dollar on Monday due to lowering credit ratings of some Europeans countries by Standard & Poor rating agency on Friday, January 13 the Euro currency started its big snap back. On that day, the good news of placement of the government bonds of France were supportedfor currency positive trading dynamics. On Tuesday, the Euro rose against the background of report on China‘s GDP which was better than expected.

Currency market weekly review (January 16 - January 20, 2012)

The European currency made another great attempt to recover against the U.S. dollar and rotate its well-established down trend. After reaching a new low of $1.2627 against the US dollar on Monday due to lowering credit ratings of some Europeans countries by Standard & Poor rating agency on Friday, January 13 the Euro currency started its big snap back. On that day, the good news of placement of the government bonds of France were supported for currency positive trading dynamics. On Tuesday, the Euro rose against the background of report on China‘s GDP which was better than expected. In details, the report showed the increase to 8.9% versus forecasted 8.7% in fourth quarter of 2011 year.

The U.S. dollar continued to decline amidst the reduced demand the “safe haven” assets.

The Euro currency continued to strengthen against major currencies amidst the positive results of auctions of Spain and France governments bonds. The auction of Spain government bonds showed that 6.6 billion euro was attracted with targeted 3.5-4.5 billion euro. France also attracted more than was expected, 7,965 billion against the target 6.5-8.0 billion euro. Supported the euro currency today also market speculations of the positive results of the ongoing negotiations about making attempts to force the Greek private lenders such as banks, insurance companies and hedge funds to agree to cancel 50% of the country's debt in their holding .

The positive results of Germany’s and Portugal’s government bonds supported to the Euro currency today.

Against the background of making attempts to force the Greek private lenders such as banks, insurance companies and hedge funds to agree to cancel 50% of the country's debt in their holding the euro was rising during the today’s Asian trading session. The EUR / USD couple strengthened to the level of $1.2805. The results of the auctions of Germany’s governments’ bonds today, which raised 3.44 billion euro for 2 years as well as of Portugal’s bonds of 2.5 billion euro with targeted 2-2.5 billion euro, were also supportive for the Euro currency’s positive trading dynamics. The EUR / USD pair continued its uptrend to the highs of $1.2852.

Currency pairs technical review (January 19, 2012)

EURUSD:The pair has found support at Fibonacci 23% at 1.26430. If the pair stays above this level the pair will rise to Fibonacci 38% at 1.31150. If the pair breaks 1.26430 the pair will drop to 1.23907. GBPUSD:The pair has MACD convergence that may support pair to start upwards corrections. First aim is at the 1.54842. USDCHF:On daily graph MACD divergence which might be a signal of future corrections. If the pair stays below 0.95074 the pair will decline first to the Moving Average (500) at 0.93069. USDJPY:The pair is trying decline to 76.463. If this level is broken the pair will continue declining to 75.425.

Currency pairs technical review (January 18, 2012)

EURUSD:The pair has found support at Fibonacci 23% at 1.26430. If the pair stays above this level the pair will rise to Fibonacci 38% at 1.31150. If the pair breaks 1.26430 the pair will drop to 1.23907. GBPUSD:The pair has MACD convergence that may support pair to start upwards corrections. USDCHF:On daily graph MACD divergence which might be a signal of future corrections. If the pair stays below 0.95074 the pair will decline first to the Moving Average (500) at 0.93069. USDJPY:The pair is trying decline to 76.463. If this level is broken the pair will continue declining to 75.425. AUDUSD:The pair is trading in the triangle. The triangle’s upper level is 1.04407 (figure resistance), lower level is 0.99207 (support).

The euro grew against the U.S. dollar and its others major competitors

Today, on Tuesday‘s Asian trading session the Euro rose against the U.S. dollar against the background of report on China‘s GDP which was better than expected. In details, the report showed the increase to 8.9% versus forecasted 8.7% in fourth quarter of 2011 year. The support for the Euro currency was also provided by the results of the auction on government bonds of Belgium. Belgium attracted 2.96 billion euro with planned target of 3.0 billion euro. The EUR / USD pair during the European session increased to the level of $1.2752 and recorded its daily high at $ 1.2807 area.

Currency pairs technical review (January 18, 2012)

EURUSD: The pair has found support at Fibonacci 23% at 1.26430. GBPUSD: The pair has MACD convergence that may support pair to start upwards corrections. USDCHF: On daily graph MACD divergence which might be a signal of future corrections. USDJPY: The pair is trying decline to 76.463. AUDUSD: The pair is trading in the triangle.

The good news for the Euro: France placed its government bonds on 8.59 billion euro compared with planned 7, 4-8, 7 billion euro

The Euro reached a new low of $1.2627 against the US dollar on Monday during the Asian trading session. The Euro currency was negatively influenced because of the lowering the credit ratings of some Europeans countries made by Standard & Poor rating agency on Friday.

Currency pairs technical review (January 17, 2012)

EURUSD: The pair has found support at Fibonacci 23% at 1.26430. GBPUSD: The pair has MACD convergence that may support pair to start upwards corrections. USDCHF: On daily graph MACD divergence which might be a signal of future corrections. USDJPY: The pair is trying decline to 76.463.

Currency market weekly review (January 09 - January 13, 2012)

Euro: This for Euro currency week began with optimism. During the trading sessions on Monday the Euro was raising against its major competitors against the background of attention to the crucial meeting of leaders of Germany and France. US Dollar: The US dollar ended up this week with a slight increase against the euro and the pound 0.5% and 0.9% relatively. The positions of the U.S. currency against the yen remained almost unchanged.

The positive result of Spain government bonds auction and weakness of US dollar supported the Euro currency.

During the Asian trading session the EUR/USD couple traded in narrow range between $1.2700 and $1.2732 levels .Market participants did not want to initiate any actions at the threshold of announce of the EU Central Bank rate later today. At the first part of European trading session the Euro started to get back its positions against US dollar on speculation that the European Central Bank will not change its monetary and leave interest rate unchanged. The result of the auction of Spain government bonds, which attracted almost double amount than planned, 9.98 billion euro against planned of4-5 billion euro, also supported the Euro currency.

The growing concerns of possible distribution of debt crisis in Europe were supportive for US dollar.

Due to growing concerns of possible distribution of debt crisis in Europe, the euro fell against the dollar as well as against the others major currencies. Market participants still fear that the current crisis will cause a slowdown in the economy of the region. The EUR / USD pair decreased below $ 1.2700 and recorded its low of $1.2682 at the end of European trading session.

Currency pairs technical review (January 12, 2012)

EURUSD:The pair has found support at Fibonacci 23% at 1.26430. If the pair stays above this level the pair will rise to Fibonacci 38% at 1.31150. If the pair breaks 1.26430 the pair will drop to 1.23907. GBPUSD:The pair is trying to break support 1.53482 it will bring the pair to test 1.52063. USDCHF:On daily graph MACD divergence which might be a signal of future corrections. If the pair stays below 0.95074 the pair will decline first to the Moving Average (500) at 0.93069. USDJPY:The pair is trying decline to 76.463. If this level is broken the pair will continue declining to 75.425. AUDUSD:The pair is trading in the triangle. The triangle’s upper level is 1.04407 (figure resistance), lower level is 0.99207 (support).

Currency pairs technical review (January 11, 2012)

EURUSD:The pair has found support at Fibonacci 23% at 1.26430. If the pair stays above this level the pair will rise to Fibonacci 38% at 1.31150. If the pair breaks 1.26430 the pair will drop to 1.23907. GBPUSD:The pair is trading in the narrow corridor between 1.56722 and 1.53482. USDCHF:On daily graph MACD divergence which might be a signal of future corrections. If the pair stays below 0.95074 the pair will decline first to the Moving Average (500) at 0.93069.USDJPY:The pair is trying decline to 76.463. If this level is broken the pair will continue declining to 75.425. AUDUSD:The pair is trading in the triangle. The triangle’s upper level is 1.04407 (figure resistance), lower level is 0.99207 (support).

The Euro grew due to the positive expectation of meeting of leaders of Germany and France.

During the Asian trading session on Monday the Euro was raising against its major competitors against the background of attention to the crucial meeting of leaders of Germany and France. The EUR / USD pair strengthened to $1.27835 level at the beginning of the European trading session amid the positive expectations of this meeting. The GBP/USD couple traded mostly in narrow trading range during both sessions. It’s high was at $1.5467 and low around $1.5401 area .

Currency pairs technical review (January 10, 2012)

EURUSD:The pair has found support at Fibonacci 23% at 1.26430. If the pair stays above this level the pair will rise to Fibonacci 38% at 1.31150. GBPUSD:The pair is trading in the narrow corridor between 1.56722 and 1.53482. USDCHF:On daily graph MACD divergence which might be a signal of future corrections. If the pair stays below 0.95074 the pair will decline first to the Moving Average (500) at 0.93069. USDJPY:The pair is trying decline to 76.463. If this level is broken the pair will continue declining to 75.425. AUDUSD:The pair is trading in the triangle and aiming to the upper level of the figure at 1.04407.

Currency market weekly review (January 03 - January 06, 2012)

One of the reasons of euro‘s growth against the U.S. dollar on Tuesday was the better than expected data on the indexes of business activity in the manufacturing sectors in France and Germany and the EU as a whole. Also, the support for the couple was provided by report of the Germany‘s labor market, which recorded improved employment situation in Germany, the EU’s largest economy. The unemployment rate fell to 6.8% from previous 6.9%.

Premier Minister of Greece: The country is going to meet a default in March 2012.

During the second part of Asian session the trading dynamics for Euro currency renewed their downtrend. There were fears regarding European debt crisis. Jean-Claude Juncker, head of government of European Union, stated today that the EU is going to fall into recession, and its scale is unknown. Moreover, the Greek Prime Minister, Lukas Papadimos said that Greece will face the risk of unorganized default in March 2012 without getting a new loan aid package of 130 billion euro.

The market participants continued to accumulate their long positions on Gold and Oil futures.

Today, during the Asian trading session, the Euro currency traded in relatively narrow range against the US dollar. The EUR / USD pair traded between $ 1.3023 and $ 1.3044 levels. The European trading session showed the decrease of the Euro against major currencies amid the weak results of the auction on government bonds of Germany, which resulted that only the amount of 4,057 billion euro were collected compare to planned 5.0 billion euro. Also, the pressure on the euro also had forecasted decrease for GDP in Germany reported by the DIW, German Institute for Economic Research.

ECB: the amount of loans granted for banks grew by 214 billion euro, and reached 879 billion euro for this week only.

The Euro was trading in a narrow range against the U.S. dollar and Japanese yen during both trading sessions on Wednesday. The EUR/USD pair traded in the $1.3050 -$1.3080 range. The results of the auction held today for Italy’s government bonds indicated that investors still have concerns of the prospects of the Italy’s economy and future of the euro.