Forex

Euro Makes Fresh 20 Months Low, Huge Selling Before Italian Bond Auction

by Bhaveek Patel

Italian Bond auction is to be done today and ahead of event we have seen huge selling in Euro against US Dollar. There is still more uncertainty and concerns regarding Italian bond auction across European region. Selling on EURUSD was so intense that, pair has made fresh 20 Months low at 1.2847 falling by more than 50 pips in few minutes, and the pair is still under selling pressure. Any pullback or risk rally should .....

Forex Trading: AUDUSD Trading with Technical Analysis, Bullish Outlook for Short Term: Buy AUDUSD

by Bhaveek Patel

Australian dollar has corrected from its high of 1.1078 level, this level was the highest level of decade. We have seen AUSUSD pair correcting from the 1.1078 level to 0.9926 level, this correction has made good buying opportunity in the forex market. As the global meltdown was another issue which created global demand for USD in market and the selling in other currencies. Also we have noticed inflation in Australian economy was reported higher than .....

Swiss Franc Trading Strategy using Technical Analysis Today, USDCHF Pair May see Further Consolidation, Short Sell USDCHF Below 0.7985

by Bhaveek Patel

Swiss Franc was on strong down trend and we have recently seen the monetary measures taken by the Swiss National Bank (SNB) to depreciate its currency and then we have seen a bounce in CHF against USD. So still we will be looking for selling opportunities as long as the pair is in down trend. Taking a look at the technical charts we see that price action has struck against the 61.8% Fibonacci retracement level .....

GBPUSD: Bank of England Interest Rate Decision and Techniacal Analysis for 4 August 2011: Buy or Sell GBPUSD

by Bhaveek Patel

Bank of England is going to announce its decision on interest rates this afternoon, We believe that Bank of England will keep the interest rates unchanged at 0.50%, as growth slowdown was seen in last few months and we are sure that the BoE will be pressured to keep the rates unchanged. Also the inflation there is not a big reason to worry about in UK region. So we will be placing our bets that .....

Forex: EURUSD Trading Analysis and Target Level for Next Week 1 August 2011, We are Bullish

by Bhaveek Patel

EURUSD has started to consolidate as there is uncertainty in both region United states and European region. Taking a look at technical charts we see EUR/USD has rallied sharply from 1.40 levels and we believe this trend on EUR/USD to continue upto its next resistance of 1.44 level, this is our initial target level on 4 hour chart. So we will be looking for buying opportunities as long as the pair holds above 1.42 level. .....

Forex: EURUSD Technical Analysis on 29 July 2011, Sell EURUSD below 1.4295

by Bhaveek Patel

Today’s trading technical analysis for EUR/USD 29 July 2011, our advice to trade short (sell) in EURUSD below 1.4295 level for target of 1.4255 and then 1.4215 levels also place protective stop loss above 1.4315 zone. Why EURUSD is trading down : EURUSD pair has broke below the support of 200 SMA on 4 hour chart and we expect some more selling coming in this pair, as there was a news about downgrade of Spain .....