“Signs the [UK] economy is slowing have prompted calls for more government support for the private sec-tor ”- WSJIndustry outlookCurrency couple’s rally has been halted by a resistance line situated at 1.5835, triggering a trade off. Currently the pair is head-ed towards 1.5715. In case the latter level is breached, the price is expected to target lower supports located at
“Concerns are easing over Europe’s debt crisis and its effect on the global financial system, reducing credit risk in the short-term”- Ichiyoshi Investment Management (based on Bloomberg)Industry outlook$EUR/JPY failed to climb over a downtrend line at 107.31 which has successfully stopped a rally. Therefore the pair is now likely to commence declining, first down to 105.00, and afterwards even lower
“The euro's outlook from here looks weak”- Mizuho Corporate Bank (based on CNBC)Industry outlookThe euro - American dollar currency pair is nearing a major resistance zone located at 1.3940/1.4077, which consists of 55 and 200 day ma's, as well as of 55 and 200 week ma's. This implies an increasing possibility of the price sliding down after en-countering this area.Traders'
Industry outlookCurrent rally, which started after USD/CHF collided with 0.9000, is likely to commence stepping lower as soon as it encounters a strong resistance situated at 0.9317, thus supports at 0.8947 and 0.8927/18 will be in focus on Wednesday. Nevertheless, the longer term outlook is positive.Traders` sentimentThe greenback has lost a significant portion of its supporters, as the share of
USD/JPY is still being traded within a narrow corridor, formed by 76.95, being 55 day ma, from above and 76.25, which is a March low, from below. Secondary resistance and support may be found at 77.27 and 75.94 respectively.Traders` sentimentThe gap between the longs (55.15%) and shorts (44.85%) in the market has widened, as many market participants have changed their
Industry outlookThe bullish impetus weakens with each moment, but still it is anticipated to last until a resistance zone located at 1.5762/86 is reached. Subsequent resistances are at 1.5912/45 and 1.6020. In the long-term the pair is deemed as bearish, aiming for 1.50.Traders’ sentimentSlowly and steadily the share of long trades in GBP/USD market is increasing relatively to the part
Industry outlookEven though EUR/JPY did not manage to pierce through 105.00, the currency couple is perceived as a bullish one as long as it stays above 102.47. Additional support is provided by lines at 101.95 and 100.77.Traders’ sentimentToday the advantage in numbers of long positions over short ones has become clearer, as bullish traders now constitute 53.18% of the market,
Industry outlookThe resistance area at 1.3691 has successfully repelled the attack of the pair, sending it lower. At the moment the price is headed towards 1.3495 which is expected to hold and then trigger a rally which will again struggle at 1.3682/91.Traders` sentimentThe amount of long trades in EUR/USD market has stopped decreasing and managed to rally up to 46.41%.
“The SNB supports the euro-franc exchange rate with franc sales, and there is speculation that the SNB might raise the lower threshold for the euro-franc from 1.20“- Commerzbank AG (based on Bloomberg)Industry outlookThe pair keeps on progressing and inching higher with each day. Currently it is coming nearer to its primary target at 0.9340/0.9400. Losses of the price will be
“If Japan wants employment, you’re going to have to do something about establishing a normal exchange rate”- CEO of Nissan Motor Co. (based on Bloomberg)Industry outlookUSD/JPY seems to be glued to the key support area located at 76.29/25 refusing to leave its vicinity. Resistances are to be found at 77.04, 78.45 and 79.57, while supports are at 75.94 and 75.00.Traders'
“Tensions in the world economy threaten the U.K. recovery”- Bank of England (based on WSJ)Industry outlookFor now the price is likely to make a correction, following which GBP/USD is anticipated to carry on sliding down. The initial resistance and support levels are situated at 1.5522 and 1.5409 respectively.Traders' sentimentA great part of traders has lost confidence in the British pound
“The euro still seems to be in a downward sloping tunnel”- State Street (based on CNBC)Industry outlookThe euro-Japanese yen currency pair is recovering after a test of 100.43. Additional support is provided by the levels at 100.00 and 99.85. Rallies on the other hand are capped by 104.96, 107.00 and 107.97.Traders' sentimentMany long positions were closed yesterday, as the share
“There are still plenty of problems that face the European financial system. The risk rally will probably run out of steam in the next week”- RBS (based on Reuters)Industry outlookThe currency couple is presently headed towards 1.3680/90,although it is expected to struggle near a resistance line at1.3447. The long-term target remains at 1.2860, currently coveredby supports at 1.3250 and 1.3145.Traders’
“External factors affected production negatively, the yen's strength was also a negative factor”- Japan Research Institute (based on WSJ)Industry outlookAs the industry outlook suggests the currency pair is capped from above by resistances situated at 77.23, 77.45 and 77.83. Supports, on the other hand, may be found at 76.29/25, 75.94 and 75.00.Traders’ sentimentTraders’ sentiment in USD/JPY market is fixed, as
“Weak economic data would support the U.S. dollaron a safe-haven bid“- Commonwealth Bank (based on Bloomberg)Industry outlookThe possibility of the currency couple climbing up to the area of 1.5783/1.5973 is constantly decreasing. As soon as a support at 1.5500 is breached, losses may continue till the price slides down to 1.4973.Traders’ sentimentGBP/USD traders’ sentiment seems to be rather stable, without
“There would be demand for safe haven currencies, like the dollar and yen”- Commonwealth Bank (based on Bloomberg)Industry outlookEUR/JPY extends its rebound from a strong support at 101.15, which is anticipated to last until 105.67 or 107.97/108.45. Dips will be limited by support lines located at 102.60, 101.95 and 101.15.Traders’ sentimentMore traders have become confident in the Japanese yen, as
“Economic growth in Europe and the U.S. is notthat good, and that will put pressure on the euroand give a bid to the dollar”- Commonwealth Bank (based on Reuters)Industry outlookIn the short-term the bullish momentum is likely to fade away and slowly turn into a bearish one, which is expected to drag the pair down to 1.3515 en route to