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IGTFX technical analysis

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1 IGTFX technical analysis on Tue Mar 09, 2010 5:02 am

IGTFX technical analysis, welcome to our Daily FX Report. Today, we are

going to report about the Pacific currencies and the Asian economic. We

wish you a nice and successful trading day.

IGTFX reports The JPY gained the most in more than a week versus the

EUR on expectation that Japanese companies are bringing back earnings

back home before the nation’s fiscal year ends this month. IGTFX

reports The Japanese currency climbed versus all the 16 major

counterparts after Yi Gang, head of China’s foreign-exchange regulation

said that speculative capital is flowing into the country. IGTFX

reports The EUR/JPY fell to a low at 122.33 while the USD/JPY dipped to

89.88.

IGTFX reports The AUD/JPY fell the most since February 25th and reached

a low at 81.59 while the NZD/JPY reached a day-low at 62.70. IGTFX

reports Yesterday, the AUD traded near its strongest level in almost

seven weeks against the USD as private reports showed that job

vacancies jumped in February by the most in more than a decade and

business confidence climbed for a second month. IGTFX reports The NZD

dipped versus all the 16 major currencies after a government report

showed that the nation’s consumer purchases on debit, credit and store

cards fell for the first time in eight months. IGTFX reports The

AUD/NZD gained to 1.3018 after it reached a high at 1.3027.

[SIZE="6"]GBP/AUD[/SIZE]

IGTFX reports As you can see, the GBP/AUD has been moving below a

bearish Fibonacci fan. After touching the lower line of the fan during

the end of February, the pair pulled down and reached the support level

around 1.6500. If the market doesn’t break the support line around

1.6500, IGTFX reports it might pull up towards the bearish Fibonacci

fan.

[SIZE="6"]GBP/CAD[/SIZE]

IGTFX reports Since the beginning of March, the GBP/CAD has been moving

inside a bullish trend channel. While the Bollinger bands maz signalize

a direction change, IGTFX reports the pair reached the lower line of

the short term bullish trend channel for the third time. If the market

will break the lower line of the channel, IGTFX reports we might be

able to see further bearish movements.

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