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Day: August 11, 2012
August 112012
Uneventful Week of Trading Not Good for Euro
This trading week was a bit uneventful. That was not good for the euro as traders hoped that the European Central Bank would act to support the currency as its President Mario Draghi had promised previously. The currency was trying to keep its gains from the previous week’s Friday at the start of this week, but for the most part of the week the euro was going down. Spanish yields were rising and nearing the critical […]
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August 112012
Forex Technical Analysis for Week 08/13—08/17
Floor Pivot Points Pair 3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res EUR/USD 1.2003 1.2122 1.2205 1.2324 1.2407 1.2526 1.2609 GBP/USD 1.5433 1.5489 1.5588 1.5644 1.5743 1.5799 1.5898 USD/JPY 77.36 77.74 78.01 78.39 78.66 79.04 79.31 EUR/JPY 93.20 94.45 95.30 96.55 97.40 98.65 99.50 GBP/JPY 120.37 121.04 121.89 122.56 123.41 […]
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August 112012
Aussie Pares Losses as RBA Raises Growth Forecast
The Australian dollar was falling, but snapped its losses versus its US peer and closed near the record high against the euro. The currency ended with a loss against the Japanese yen. The main bullish driver for the Aussie was Reserve Bank of Australia’s monetary statement. The RBA revised its growth forecast for 2012 to 3.75 percent, up from 3 percent in May prediction. The central bank named several risks for Australia’s […]
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