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EURUSD Euro/dollar fell to critical support and email@example.com but made a huge comeback. WhileDraghi disappointed markets with noimmediate action, he opened the door to fullQE and is now waiting for Spain to walkthrough. Spain took a big step. Is this asignificant positive change in the debt crisis?Many problems still remain. www.instafxng.com
Contrary to previous performances, Draghiwas not at his best and the absence of bondbuying from the only factor able to act wasdisappointing. Nevertheless, the readiness tobuy bonds without sterilization and the factthat only Germany opposed the move and notother northern countries, is definitely worthnoting. www.instafxng.com
Before acting, internal ECB committees needto work and more importantly, countries haveto ask for aid. This U-turn is very hard for theSpanish government, but for a change, theydidn’t reject this option – this is a big stepforward. Will the ECB take the extra stepand help Greece? Perhaps that’s too much toask. Weekly Signals: Sell @1.2588 and Buy@1.2061 www.instafxng.com
GBP/USD GBP/USD was down almost one cent lastweek, as the pair closed at 1.5641. Will beexpecting eight fundamental releases thisweek, including Manufacturing Production onTuesday and PPI Input on Friday. www.instafxng.com
The pound weakened during the week, but made up for most of those losses following unexpected strong employment data out of the US. Economic releases out of the UK were mixed, and the BOE made no changes to QE or the key interest rate. Weekly Signals: Sell @1.5759 and Buy @1.5435 www.instafxng.com
USDJPYThe Yen remained unchanged in a weekthat saw classical range trading and regularrisk on / risk off movements. CurrentAccount which will be coming up onWednesday and the rate decision are theMajor events this week. www.instafxng.com
Last week. weak data was released with an unexpected drop of 0.1% in Prelim Industrial Production, A smaller than predicted rise of 1.6% in Household Spending and a disappointing decline of 0.6% in Average Cash Earnings. The better than expected jobs report in the US supports the dollar, and the improvement in Europe certainly lowers the risk flows that the yen enjoys so much. www.instafxng.com
Together with a return of deflation and intervention, there isn’t much room for falls in USD/JPY. So buying Usd/Yen this week will be good for traders. Looking at USDJPY. This week we will Sell 78.77 and buy @77.68 www.instafxng.com
USDCHFThe Swiss gained some ground against the USdollar, as USD/CHF closed the week below the0.970 line, at 0.9701. Highlights of theupcoming week include the Foreign CurrencyReserves and CPI, both will be coming up onTuesday by 8 a.m and 8: 15 am. www.instafxng.com
The swiss weakened during the week, butthen rebounded, following strong USemployment data late in the week. You maysell @0.9797 and buy @0.9476 www.instafxng.com
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A presentation on forex analysis from 6th -10th of August 2012