USD/CAD Fundamental Analysis February 6, 2012, Forecast

Trading 04 fév 2012 Commentaire »
The USD/CAD is currently trading at 99.35. The USD soared past all of its major trading partners today after jobs reports beat forecasts in the US. The US added 243,000 jobs as reported by the Labor Department for the first time since April. The unemployment rate dropped to 8.3 percent, the lowest since February 2009.This was the boost the US needed to signal that the economy was recovering.

EUR/USD Fundamental Analysis February 6, 2012, Forecast

Trading 04 fév 2012 Commentaire »
The EUR/USD is trading at 1.3084 and falling as the euro gave way to the USD. The USD soared past all of its major trading partners today after jobs reports beat forecasts in the US. The US added 243,000 jobs as reported by the Labor Department for the first time since April. The unemployment rate dropped to 8.3 percent, the lowest since February 2009.

EUR/USD Weekly Outlook

Trading 04 fév 2012 Commentaire »
EUR/USD turned into consolidation below 1.3233 last week and initial bias remains neutral for some more sideway trading. On the upside, sustained break of 38.2% retracement of 1.4246 to 1.2625 at 1.3244 will resume the rebound from 1.2625 and target 61.8% retracement at 1.3627. On the downside, break of 1.2931 minor support will suggest that corrective rise from 1.

USD/JPY Weekly Outlook

Trading 04 fév 2012 Commentaire »
USD/JPY dropped sharply to as low as 76.02 last week but made a temporary low there and recovered. Initial bias is neutral this week for some consolidations and the pair might recover back towards 55 days EMA (now at 77.14). Though, note that the strong break of 76.55 support confirmed resumption of whole fall from 79.52. Hence, we'll stay bearish as long as 78.

GBP/USD Weekly Outlook

Trading 04 fév 2012 Commentaire »
GBP/USD rose further to as high as 1.5882 last week before making a temporary top there and consolidates. Initial bias is neutral this week for some sideway trading. But near term outlook will stay cautiously bullish as long as 1.5641 cluster support holds (38.2% retracement of 1.5234 to 1.5882). Above 1.5882 will target a test on 1.6165 key cluster resistance (61.8% retracement of 1.6746 to 1.

USD/CHF Weekly Outlook

Trading 04 fév 2012 Commentaire »
USD/CHF turned into sideway trading and consolidated above 0.9114 temporary low last week. Initial bias remains neutral this week for more consolidative trading. But even in case of another rise, we'd expect upside to be limited by 38.2% retracement of 0.9594 to 0.9114 at 0.9297 and bring fall resumption.

AUD/USD Weekly Outlook

Trading 04 fév 2012 Commentaire »
AUD/USD rose to as high as 1.0793 last week and the break of 1.0752 serves as the first signal that consolidation pattern from 1.1079 is finished at 0.9663 and the larger up trend might be resuming. Initial bias remains on the upside and AUD/USD should now target a test on 1.1079 high next. However, note that it's far from certain that the consolidation from 1.1079 is completed.

USD/CAD Weekly Outlook

Trading 04 fév 2012 Commentaire »
USD/CAD's choppy fall continued last week and reached as low as 0.9927 so far. Initial bias remains on the downside this week for 0.9891 support first. Break will extend the whole decline from 1.0656 towards 100% projection of 1.0656 to 0.9891 from 1.0522 at 0.9763. On the upside, break of 1.0070 resistance is needed to be the first signal of near term bottoming.

GBP/JPY Weekly Outlook

Trading 04 fév 2012 Commentaire »
GBP/JPY's pull back from 122.04 was contained at 119.58 last week and recovered. With 119.19 minor support intact, rise from 117.29 is still in progress. Initial bias is mildly on the upside this week for 122.04 first. Break will confirm rise resumption for 122.76 resistance. Also, as noted before, rise from 117.29 is viewed as the third leg of the consolidation pattern from 116.83.

EUR/JPY Weekly Outlook

Trading 04 fév 2012 Commentaire »
EUR/JPY's pullback from 102.20 was contained at 99.24 last week and recovered. With 99.13 minor support intact, corrective rebound from 97.03 might still continue. Above 100.88 minor resistance will flip bias back to the upside for 102.20. Break will target a test on falling rend line resistance (now at 105.86). Though, break of 99.13 support will indicate that such rebound is finished at 102.