Norway’s $713 billion sovereign wealth fund is turning away from the world’s biggest currencies and their debt-laden governments as policy makers undermine their exchange rates through unprecedented stimulus measures.
For more click on the USD/NOK chart or,…Continue
Added by Ron Schelling on March 11, 2013 at 3:00pm — No Comments
Royal Bank of Scotland - "GBP/USD Still the market slides since the important 1.5300 level was broken, 1.5115 and now 1.4907 have been breached too; expect these to morph into resistance levels should the market manage to rally.
The market continues to slide unabated and it seems that none of the important support levels are managing to halt this slide that has accelerated through the big support level at 1.5300. 1.4907 was the 38.2% retracement from the April ’10 rally and below there…
Added by Francesc Riverola on March 11, 2013 at 2:44pm — No Comments
Currently we are at 1.4877 . We looking now for the continuation to the 5th wave S5/1.618 fib extension @1.4823. The current average daily trading range (ATR) is 128 pips.…Continue
Added by Scott Barkley on March 11, 2013 at 1:17pm — No Comments
FOREXSTREET.NET WEEKLY NEWSLETTER
1. Six Forex Lessons by David Pegler
David Pegler is a member of our community and a Currency Coach at FxBootcamp.com and was a claimed guest speaker at the latest…
Added by Francesc Riverola on March 11, 2013 at 1:00pm — No Comments
Societé Generale - "The market went through a large scale adjustment of its CFTC funding position by switching out of their USD shorts into a USD long position as of last Tuesday. It suggests that the market is continuing to bet that whether in a risk off environment or a risk on environment the USD has more chances to rise vs mature economies such as those of the UK, EU or Japan. This is in line with another attempt at a break higher in US Treasury 10 year yields.
Added by Francesc Riverola on March 11, 2013 at 11:31am — No Comments
Deutsche Bank - "The DB FX strategy team is calling for a strong dollar against the majors by the end of the year (1.20 for EUR/USD, 1.41 for GBP/USD and 100 for USD/JPY). We believe most currencies have peaked against the dollar and superior US growth will lead to a “great rotation” from bonds to equities that will be dollar positive. Moreover, G10 rate differentials and implied volatility have collapsed, making dollar hedging through both forwards and options comparatively less…Continue
Added by Francesc Riverola on March 11, 2013 at 11:15am — No Comments
UBS - "A second wave of USDJPY buying is due. Japanese real money is still waiting in the wings and the life insurance industry in particular still has yen to sell.
Lifers maintain FX hedges worth about US$340 bn but one-by-one the incentives to trim these are falling into place. Admittedly, hedging costs are still very low. But yield spreads are rising, lifer risk tolerance has improved, and the yen has embarked on what we believe is a long-term downtrend.
Scope: A return to…
Added by Francesc Riverola on March 11, 2013 at 11:05am — No Comments
Westpac - "FX: Strategy Views
Added by Francesc Riverola on March 11, 2013 at 10:55am — No Comments
National Australia Bank - "Key trade ideas: The USD could extend its gains in the post NFP report mood, leading to a 1.2750-1.3310 EUR/USD range. Trade this.
Our sell recommendation on AUD/USD at 1.0330 remains in place but it may take some significant upside surprises in the coming week’s business and consumer confidence surveys or Thursday’s employment report to offer us the entry level.
We remain committed AUD/NZD bears over the medium term. Though our short established at…
Added by Francesc Riverola on March 11, 2013 at 10:40am — No Comments
What brings to my attention is the price is hovering inside the weekly Demand level and yet not showing any bullish momentum. At the mean time Im looking a short term Bearish on this pair. Current intraday shows as if the price is ranging so IM going to sell it near its high where supply level is nearby.
I went down to the 15 main chart. THis confirms with the 30min and 5 min.
Supply on the 15 min chart.…Continue
Danske Bank - "USD/CHF – Pressure increasing on .9513 for .9609 and possibly .9748
• Strategy Summary – Look to buy into dips for further strength to .9609 and possibly .9748. Suggest placing a stop under .9232.
NYMEX Crude (Apr 13) – Near-term scope to 94.46 before bears resume
• Strategy Summary – Sell near-term strength towards 93.44 for a bearish resumption targeting 89.33, possibly 87.04. Place a protective stop above 94.46."
Added by Francesc Riverola on March 11, 2013 at 10:34am — No Comments
Added by Metaneural Trading Systems on March 11, 2013 at 10:00am — No Comments
Despite a deep pull-back on oil the larger trend remains down as recovery appears to be only in three waves, which ideally represents a black wave 4 that is part of a larger downtrend. As such, traders should be aware of a bearish reversal in this week, possibly from around 92.50 where we can see a very typical 38.2% retracement level of wave 3. Break of 90.75 swing would be the first evidence for weakness in black wave 5.
Added by Gregor Horvat on March 11, 2013 at 10:00am — No Comments
Added by David Pegler on March 11, 2013 at 9:53am — No Comments
GBPUSD: Having closed lower the past week, there is risk of further downside. Support lies at the 1.4800 level where a violation will pave the way for a run at the 1.4700 level. We expect this level to hold if tested and then turn the pair higher. Further down, support comes in at the 1.4600 level. Its weekly RSI is bearish and pointing higher supporting this view. On the upside, resistance stands at the 1.5198 level followed by the 1.5291 level. Further out, resistance lies at the 1.5350…Continue
Added by fxtech on March 11, 2013 at 9:48am — No Comments
Rabobank - "The market may be able to dismiss the weekend news that Fitch has cut Italy’s sovereign credit rating to BBB+ as a ‘catch-up’ move which brings it in line with the other two major credit ratings agencies. But, it is less easy to overlook the fact that two weeks after the elections Italy is no closer to forming a new workable government. News over the weekend that the 5-Star party is ready to outline to the President its aim to lead the next government is unlikely to be accepted…Continue
Added by Francesc Riverola on March 11, 2013 at 9:48am — No Comments
Added by 50Pips on March 11, 2013 at 8:08am — No Comments
Added by Muthusamy on March 11, 2013 at 6:01am — No Comments
EUR desperately is trying to find direction as is reached 1.3000 level. From one side we have some better recovery in the USA, but still with a fiscal cliff threat, and from the other side we have a spreading debt crisis in Europe and continuous active financial policy of the ECB with a no rate cut promise of its chairman. So in this situaton is very difficult to make a forecast only on fundamentals. Let's take a techical look. This week is the best chance to break lower if not today then in…Continue