Opening Forex: All pending employment report in the U.S.
April 8th, 2010
The yen is losing ground against its major crosses. In particular, we highlight the progress of the dollar-yen cross is fired after the guideline recently drilled bass and seems ready to go to prove the beginning of the year highs. The euro recovered ground but remains hampered by funding problems in Greece. We are of the opinion that a matter of time to meet again speculative attacks on countries of the Euro zone. The fiscal situation of peripheral economies in Europe remains very worrying. The problem of Irish banks will generate a substantial increase in public debt in the country of clover is another variable that is weighing heavily on investor sentiment. As for raw
materials, we see that oil is still strong after a strong rally the previous sessions. At present, the future of Brent May 2010 goes up to $ 81.29 and the future of West Texas the same maturity is going up to $ 82.40.
WIT prices are sustained above the $ 80 and is to be seen if he can turn decisively away from the band of $ 70-80 in which it has moved over the last six months. We believe that data from the March employment report in the U.S. will be the key in this regard.
The ounce of gold is still moving with an initial lateral resistance monitored for $ 1,114.90 and a first support at $ 1,101.75. For its part, the ounce of silver continues to advance and today hit a new recent peak in the $ 17.550.
As sovereign fixed income, we see little movement regarding our previous close. In general we see prices down and pull upward. Today, we have no date in the calendar of issuance in the primary market.
Main foreign exchange market crosses:
The Euro-dollar has rejected for now the bulls to turn around yesterday after hitting a session high at 1.3537. Today, it goes to a daily minimum at 1.3384. The placement of debt failed yesterday by the Greek Government has created new uncertainty about the single currency. The Bureau of Public Debt Management Greek government tried to place bonds worth 1,000 billion euros, 5.90% and maturing in October 2022 and finally only able to place 390 million euros. Some analysts suggest that if there is another problem of placement Greece should go to the window to the IF.
Our sphere of action suggests that the current rebound in the main crossing of the fore market would be called dead cat bounce. That is a timely rebound to go back to find the smallest. The fundamentals and the technical support of this thesis.
The Euro-Yen yesterday overcame the resistance of 125.24 was spent where clavicle line figure of a potential head-shoulder shoulder invested with clear upside potential. Should go above 126 in short if the stock markets permit. His first resistance surveillance through the daily maximum at 125.47 yesterday.
The Euro-Swiss franc is framed in the range between the support of 1.4285 and 1.4358 resistance. Despite the rebound in recent sessions, the technical side of the crossing is still fairly weak after drilling a minimum of October 2008 at 1.4301 and move to a new record low at 1.4232.
The Euro-Pound went yesterday to an intraday low at 0.8880 just before the 0.8879 support. It remains very difficult to enter by a technician. From here to the British elections is speculated that they will be in early May we hope that the crossing still very volatile.
The Pound-Dollar moves in the range from support of 1.5019 and 1.5128 resistance. It takes a deserved rest after the rally of recent days. Passing the 1.5382 level we confirm the formation of a double bottom figure with clear upside potential. If you continue moderating risk aversion not to be seeking this level. The factor that can stop the surge of fear of a possible 'default' of Greece that could drag the euro and the pound lower. The British public accounts are also in a lot worse.
We must be cautious in so far managed to stop the crossing last Thursday at a daily minimum at 1.4798 near the annual minimum of 1.4784 it reached in early March.
The Dollar-Yen continues to surprise us every day for strength. Today, it has gone to a new recent peak in 93.605. It is already at the gates of the maximum of 93.765 in January. Since last week managed to pierce the guideline bearish medium-term primary was drawing since June 2007, the crossing is triggered. After this event we believe you have a clear potential to 95 and 100. However, logic tells us that it should purge gains in recent sessions because of excessive verticality of the climb. Below, the first support is at 92.125.
The Kiwi-Yen continuing the bandwagon for profits and has drilled its first resistance and goes up to an intraday high at 66.38. Now your brakes following are bullish on the 66.45 and 66.39. We do not rule that corrects the recent upward rally for the upcoming session but while we must be uploaded to the trend.
The Aussie-yen is beginning to reverse the recent upward momentum today after setting a new high recently in 85.600. Overcoming the resistance of 85.765 following could propel him to the maximum in January at 86.215.
WIT prices are sustained above the $ 80 and is to be seen if he can turn decisively away from the band of $ 70-80 in which it has moved over the last six months. We believe that data from the March employment report in the U.S. will be the key in this regard.
The ounce of gold is still moving with an initial lateral resistance monitored for $ 1,114.90 and a first support at $ 1,101.75. For its part, the ounce of silver continues to advance and today hit a new recent peak in the $ 17.550.
As sovereign fixed income, we see little movement regarding our previous close. In general we see prices down and pull upward. Today, we have no date in the calendar of issuance in the primary market.
Main foreign exchange market crosses:
The Euro-dollar has rejected for now the bulls to turn around yesterday after hitting a session high at 1.3537. Today, it goes to a daily minimum at 1.3384. The placement of debt failed yesterday by the Greek Government has created new uncertainty about the single currency. The Bureau of Public Debt Management Greek government tried to place bonds worth 1,000 billion euros, 5.90% and maturing in October 2022 and finally only able to place 390 million euros. Some analysts suggest that if there is another problem of placement Greece should go to the window to the IF.
Our sphere of action suggests that the current rebound in the main crossing of the fore market would be called dead cat bounce. That is a timely rebound to go back to find the smallest. The fundamentals and the technical support of this thesis.
The Euro-Yen yesterday overcame the resistance of 125.24 was spent where clavicle line figure of a potential head-shoulder shoulder invested with clear upside potential. Should go above 126 in short if the stock markets permit. His first resistance surveillance through the daily maximum at 125.47 yesterday.
The Euro-Swiss franc is framed in the range between the support of 1.4285 and 1.4358 resistance. Despite the rebound in recent sessions, the technical side of the crossing is still fairly weak after drilling a minimum of October 2008 at 1.4301 and move to a new record low at 1.4232.
The Euro-Pound went yesterday to an intraday low at 0.8880 just before the 0.8879 support. It remains very difficult to enter by a technician. From here to the British elections is speculated that they will be in early May we hope that the crossing still very volatile.
The Pound-Dollar moves in the range from support of 1.5019 and 1.5128 resistance. It takes a deserved rest after the rally of recent days. Passing the 1.5382 level we confirm the formation of a double bottom figure with clear upside potential. If you continue moderating risk aversion not to be seeking this level. The factor that can stop the surge of fear of a possible 'default' of Greece that could drag the euro and the pound lower. The British public accounts are also in a lot worse.
We must be cautious in so far managed to stop the crossing last Thursday at a daily minimum at 1.4798 near the annual minimum of 1.4784 it reached in early March.
The Dollar-Yen continues to surprise us every day for strength. Today, it has gone to a new recent peak in 93.605. It is already at the gates of the maximum of 93.765 in January. Since last week managed to pierce the guideline bearish medium-term primary was drawing since June 2007, the crossing is triggered. After this event we believe you have a clear potential to 95 and 100. However, logic tells us that it should purge gains in recent sessions because of excessive verticality of the climb. Below, the first support is at 92.125.
The Kiwi-Yen continuing the bandwagon for profits and has drilled its first resistance and goes up to an intraday high at 66.38. Now your brakes following are bullish on the 66.45 and 66.39. We do not rule that corrects the recent upward rally for the upcoming session but while we must be uploaded to the trend.
The Aussie-yen is beginning to reverse the recent upward momentum today after setting a new high recently in 85.600. Overcoming the resistance of 85.765 following could propel him to the maximum in January at 86.215.
Tags: bonds, British Pound, Euro Dollar, Forex, silver, Swiss Franc
