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IGTFX technical analysis

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1 IGTFX technical analysis on Thu Mar 04, 2010 4:26 am

IGTFX technical analysis , today we expect a lot of interesting economic data. For example the U.S. Jobless Claims. Anyway, have much success in trading today.
The NZD lost and reached 1.3080 versus the AUD .
IGTFX Market review
The USD traded near a two week low versus the EUR and reached 1.3703 on easing concerns that the European Union`s biggest budget gap will derail a regional recovery after Greece announced tax increases and deeper spending cuts. Furthermore the JPY traded near its highest level against the USD since the beginning of December 2009. IGTFX reports The USD dropped to 88.45 versus the JPY on bets the Federal Reserve will keep its benchmark interest rate near zero. The EUR weakened to 121.02 against the JPY. IGTFX reports Since the year 2000, the AUD approached its strongest level against the NZD, because investors bet on a quicker economic growth in the larger South Pacific nation. This increased the demand for the AUD. IGTFX reports The NZD lost and reached 1.3080 versus the AUD.

The Bank of England announces today, that they may keep their bond purchase plan on hold. The GBP has dropped 4 % in the past month versus the USD and 7% in this year.


IGTFX reports , Since the middle of February, the USD has been trading in a slightly bearish trend channel against the SEK. Currently, the currency pair is trading in the middle of the channel. During the last two weeks, whenever the USD touched the upper or the lower line of the channel, the prices continued its bearish trend. Furthermore the MA Oscillator may indicate a following downtrend with a breakthrough by the signal line.

With the beginning of February, the USD has been trading in a sideways trend versus the CZK. IGTFX reports During that time, IGTFX reports the currency pair could recover four times at its support around 18.8480. Recently, the USD has broken this support, but it seems that the prices could recover again. IGTFX reports Also the RSI indicator could support that with an increasing trend. It remains to be seen if the USD could cross its support from below today .

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