Daily Market Analysis

EURUSD

Euro (EUR) was traded between 1.3652 to 1.3914 levels this week and locked in 1.3893 dollars. Strong demands start to show as solution for the debt crisis by Germany and France seems likely and continuing positive sentiment in the markets. In the opening week the pair continues a journey of recovery as we observed at 1.3790 dollars and even more at 1.3914 dollars following the positive sentiment in Europe and the U.S., now, it seems the next target is 1.3910 – examination of the 55 day moving average. Increases are supposed to be blocked at this stage as in 1.4080 dollars there is a-200 days moving average, if so, then the currency will probably fell back to 1.3740.



GBPUSD

British Pound (GBP), as the euro, was trading in accordance with our earlier expectations as currency drops were contained in the levels of 1.5630 dollars and he began to shift back towards 1.5930 to 1.5940 dollars due to positive data from the United Kingdom, and, because alleged CPI is changed again and now stands at 5.2% annual rate. Next week further rises can be expected to the -1.6090 -1.6070 dollars level but our assessment that there could be contained and dropped back to a level of -1.5710 dollars. Medium-Long Term Forecasts – stays at $ 1.72 (55 weeks moving average).



NZDUSD

New Zealand currency (NZD) managed to establish over the 200 days moving average and locked above. This can signal us to await further increases up the 0.8150 dollars level of at the first target, second target is 0.83 dollars, given the decreasing levels of risk and expected to increasing in the commodity prices. Technical wise, support level is at 0.7860 dollars for now and is going to hold.



USDCAD

Canadian dollar (CAD) – fairly gained in most of trading days of this week due to the increase in world oil prices and due to general rising in the world markets, yet, flight from the dollar into other channels certainly played a role also. This week we entered Short in that pair at a price level of 1.0275 dollars when short-term goal set to 0.9950 as there is a 200 days moving average at 0.9800. In long term wise, the pair has a new target - 0.90 dollars. Stop-loss levels at 1.0700 dollars.



AUDUSD

Australian Dollar (AUD) – The Australian currency made a remarkable recovery in the markets due to the positive and significant decrease in the fear index (VIX) and can be expected to continue its rising up to 1.0500 dollars this week. Interest rate differentials still tend to clearly give hope for the Australian currency as it always finds new investor in these levels, so, traders who want to look for an opportunity are to enter a trade at levels that range from 1.0250 to 1.0380 when the target is 1.07 dollars in the short term and 1.13 in the longer-term. Strong support level is where you should place the orders stop loss - 0.99 dollars if it is locked below.