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Daily Technical Report: Major And Cross Currencies - May 16, 2013
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 - May 16, 2013

EUR/USD - European SessionThe downside movement pushed the pair toward the ascending support as shown on graph, as it failed yesterday to break it. Some upside correction might occur from the current ...

 
Daily Currency Outlook: GBP/JPY Still Neutral, EUR/JPY Turns Neutral
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 - May 16, 2013

GBP/JPY Daily OutlookDaily Pivots: (S1) 155.28; (P) 155.86; (R1) 156.35;Intraday bias in GBP/JPY remains neutral for the moment and some consolidations could be seen below 156.77 temporary top. ...

 
USD/JPY Still Strong, Next Target 103
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 - May 16, 2013

USD/JPY Open 102.23 High 102.76 Low 101.84 Close 102.20On Wednesday, the USD/JPY traded within the 90 pip range. The currency couple depreciated from 102.76 to 101.84 yesterday, not matching the ...

 
GBP/USD: Trading In A Downward Channel
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 - May 16, 2013

The GBP/USD pair is trading in a downward channel on a 30 minute time frame. The trend within this channel looks as if it is becoming stronger, as the price is trying to break its 50 day (shown in ...

 
USD/JPY: Retest of 100
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 - May 16, 2013

The USD/JPY has been in a sideways move for the last couple of days, making Yens a bit dicey to trade. Current price action indicates continuation of corrective move in overall Bullish trend for JPYS....

 
EUR/USD: More Weakness For The Euro
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 - May 16, 2013

Another day of weakness in the Euro and once the trendline at 1.2960 broke, sellers were back in the market. The second trendline at 1.2899 also failed to hold and we came to 1.2840. The market ...

 
Australian Dollar: Further Corrections?
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 - May 16, 2013

Aussie managed to hold onto its 200 week M./A by the skin of its teeth yesterday, on a close basis. We did not break out 9842 break point and therefore it is better to be long of Aussie on any dips, ...

 
Aussie's Freefall Continues
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 - May 16, 2013

It seems that nothing can save the Aussie. AUD/USD traded mildly higher after yesterday’s downbeat US figures, but then resumed the decline. Today the pair renewed an 11-months low at $0.9830. ...

 
Soft U.S. Factory Data Slows Downtrend On GBP/USD
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 - May 16, 2013

GBP/USD Open 1.5222 High 1.5273 Low 1.5172 Close 1.5226On Wednesday, the GBP/USD traded within the 100 pip range. The Cable depreciated from 1.5273 to 1.5172 yesterday, in line with the negative money...

 
GBP/USD Trend Transition Forms Bottom As Expected
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 - May 16, 2013

GBPUSD – Price Action Bottoms, More Upside? As discussed in my FX market commentary yesterday, the GBP/USD was showing intra-day price action signs of a bottom forming via the trend transitions and ...

 
GBP/USD: First Pullback Setup Plays Out
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 - May 16, 2013

GBP/USD – First Pullback Level Plays Out Yesterday in my market commentary, we discussed looking for pullbacks towards two key levels to get short on the pound. The first was the 1.5279 level, and ...

 
Majors Daily Forecast: May 16, 2013
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 - May 16, 2013

EUR/USDTrading range: 1.2890 - 1.2790Trend: DownwardSell at 1.2880 SL 1.2912 TP 1.2803USD/JPYTrading range: 102.00 - 103.00Trend: UpwardBuy at 102.14 SL 101.82 TP 102.86GBP/USDTrading range: 1.5245 - ...

 
ECB Likes Seeing EUR/USD At 1.2870
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 - May 16, 2013

The euro’s fall to six-week lows is likely to be welcomed by the European Central Bank (ECB), which has been trying to talk down the currency. Yet to really take the shine off the euro, ...

 
GBP/USD Bounces Off Support At 1.52
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 - May 16, 2013

Over the last 24 hours the GBP/USD has fallen lower again down below 1.52 and to levels not seen since early April. It appears to be consolidating a little around the support level at 1.52, which has ...

 
EUR/USD At 1.2875, Inflation Set To Fall To Three-Year Low
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 - May 16, 2013

The euro slid toward a six-week low before a report that will probably confirm inflation in the 17-nation region was the slowest in three years.The common currency completed a five-day drop yesterday,...

 
USD/CAD At 1.0160 After U.S. Production Declines
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 - May 16, 2013

The Canadian dollar gained for the first time in five days versus its U.S. counterpart after American industrial production dropped in April by the most in eight months.The currency advanced against ...

 
AUD/USD Settles Around 0.99
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 - May 16, 2013

The AUD/USD has experienced its worst week in a long time which has seen it continue to move to new lows below 0.99, from highs above 1.0250, although in the last 24 hours it has settled a little and ...