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Trading session Tuesday, little different from that seen in the first day of the week. Overall, trading was quiet for lack of news that could "shake" market. News has not prolonged, costly impact on the spread of events and the majors remained in a narrow range. As usual in recent market wariness obuslavlivalas′ situations in Greece and Spain, the same pessimism was additive information from China that China had no plans to introduce new incentives. Trade picked up somewhat since the beginning of the American session, when published data on the United States economy. Part of the statistics showed the weak results, and it's a little nadavilo on the green.

Views: 826 | Added by: mik | Date: 30.05.2012 | Comments (0)

Egan-Jones rating agency credit-rating agency downgraded Spain to ' B ' from ' BB-', that is, before dumping ' level, increasing investor fears that Europe's debt crisis is spreading and worsening. Downgrade occurred when the Spanish banking system problems related to financing, has already been the focus of markets. Gold is vulnerable to such news, because concerns about liquidity usually forced investors to relinquish assets such as precious metals, and to direct their funds in liquid assets, such as the United States dollar. In addition, gold prices are calculated in dollars and lose their attractiveness for investors using other currencies when the dollar rises. Downgrade Spain led to a strengthening US currency Tuesday that provided additional pressure on the metal.
Views: 692 | Added by: mik | Date: 30.05.2012 | Comments (0)

United States dollar once again strengthened its position, but the probability of a transition to a correction remains high.


Figure. 1. daily chart
The pair dropped below the mark 1.2500. The RSI of the daily chart is in the zone of oversold. From here, you have the following options for further development of the situation:
Views: 725 | Added by: mik | Date: 30.05.2012 | Comments (0)

All the conclusions, which we did on Monday, once again, are that while conditions for a single European currency is extremely unfavorable.

Firstly, in terms of technical analysis, it is that all the growth in EUR/USD on Monday ended at the level we previously 1.2625 was known as a meaningful level of support, and now can be considered at least respectively significant resistance. In this regard, all what happened is no more than a correction on the break; It is natural that few negative signal for euro sellers in a moment will be closing the week at EUR/USD above 1.2625.
Views: 1040 | Added by: mik | Date: 29.05.2012 | Comments (0)

 At the beginning of the world session of euro, other risky currencies and gold and after them a little firmer amid news from Greece, where, according to polls, voters give more preference to the conservative party, advocating for receiving assistance from international creditors. This reduces the potential collapse of the eurozone. However, later the market received further negative signals about the State of the banking system. This limited increase in risky assets and gold, but due to low activity in the afternoon due to closed markets in the United States a significant reduction in quotations, and managed to maintain their positions to gold.

 From a technical perspective, the medium-term prospects for gold will remain negative until it reaches below 1600.00. The likely new attempts to breakthrough the following range 1450.00-1520.00 towards mark 1300.00. If metal established above 1600.00, he probably will continue the consistent increase in the 50-day SMA 1625.00 area, 100-day SMA 1665.00 area and 200-day SMA, passing about 1690.00.

Views: 739 | Added by: mik | Date: 29.05.2012 | Comments (0)

 United States dollar has managed to keep their positions, but in the near term still likely development of correction.


Figure. 1. daily chart
The pair continues to trade below 1.2600. The RSI of the daily chart leaves the zone oversold. From here, you have the following options for further development of the situation:
Views: 784 | Added by: mik | Date: 29.05.2012 | Comments (0)

A distinctive feature of the (characteristic) of our current items for sale in EUR/USD, open range 1.2550-1.32, should be regarded as having substantially more tied to a temporary factor, than to specific price levels, although they too have.

 Speaking of timing, trite, we believe that before the elections in Greece 17 June market for EUR/USD will be in free fall, and the fundamental picture is secret rule "sell euro on expectations out of Greece from the euro zone, otkupaj into the box. Another time guideline boils down to 6 June, when there will be a meeting of the ECB, under which the euro can "drive" down on expectations of new measures easing of monetary policy in the euro zone (LTRO, rate cut).

Views: 834 | Added by: mik | Date: 28.05.2012 | Comments (0)

Since Monday, a holiday in the United States, investors on Friday sought to reduce short positions in gold, with a view to some stabilization of the situation on the European debt market, as well as to stabilize the euro on the foreign exchange market, resulting in decreased demand for the US dollar, which has increased sharply over the last time pressured position metal. As a result, gold failed to offset some of the costs incurred during the week and show signs of stabilization.

 From a technical point of view, gold receives prominent support when approaching the upper limit of the range 1450.00-1520.00 that eventually might lead to repeated attempts to overcome mark 1600.00. If successful, the metal will focus on the further gradual recovery to 50-day SMA 1630.00 area, 100-day SMA 1665.00 area and 200-day SMA, which is slightly below the mark 1700.00. If the metal will continue to be traded below 1600.00, risks remain decreases, and you should expect a new round of cuts in order to overcome range 1450.00-1520.00 and breakthrough towards mark 1300.00.

Views: 785 | Added by: mik | Date: 28.05.2012 | Comments (0)

 United States dollar began to be adjusted, and this trend may continue in the near term.


Figure. 1. daily chart
The pair has traded below 1.2600. The RSI of the daily chart departed oversold. From here, you have the following options for further development of the situation:
Views: 856 | Added by: mik | Date: 28.05.2012 | Comments (0)

Forecast for May 28th, 2012


The EUR/USD currency pair continues moving inside the descending trend. At the moment we should expect the price to test the channel’s upper border. One can consider selling the pair with the tight stop 1.2705 near the area of 1.2670. The closest target of the fall is the area of 1.2475. If the price breaks the channel’s upper border, this scenario will be cancelled.
Views: 794 | Added by: mik | Date: 26.05.2012 | Comments (0)

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