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IGTFX technical analysis

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1 IGTFX technical analysis on Tue Mar 16, 2010 4:58 am

IGTFX technical analysis survey stokes fears that the upcoming election may end in a minority government and strained the GBP. However, we wish you a nice and prosperous trading day.

IGFX technical analysis The GBP declined versus all of its 16 most traded counterparts and dropped against the USD the most in two weeks as a national poll showed that the U.K. may face a minority government after the upper house election this July. IGFX technical analysis The GBP/USD fell 1.1 percent to 1.5034 while the EUR/GBP rose 0.3 percent to 90.83 yesterday. IGFX technical analysis Futures traders at the CME are more bearish than ever on GBP amid concern that the currency’s worst annual start in 13 years will continue.IGFX technical analysis The bearish gamblers outnumber the bulls by eight times more than George Soros made $1bln betting against the sterling in 1992. IGFX The USD extended its gains versus the GBP during the early Asia trading hours on speculation that the Federal Reserve may eliminate its commitment to key interest rates near zero for an “extended period” at its meeting today. IGFX technical analysis The EUR/USD declined on Monday as euro-zone officials damped speculation down that the Finance Ministers will adopt a rescue strategy to bail out Greece this week. IGFX technical analysis The euro-zone still hopes that Greece’s budget cuts will make a bailout unnecessary. IGFX technical analysis
IGFX technical analysis, The CHF climbed against the EUR to its highest level in almost 17 months as a government report showed that the annual producer and import prices declined at the slowest pace in more than a year adding signs that the SNB may stop selling its own currency. IGFX technical analysis The central bank started selling a year ago to contain declining consumer prices and to prevent from a deflation.
IGFX technical analysis The AUD/JPY weakened for a second day on concern the minutes of its central bank’s March meeting will signal a slower pace to future interest rate increases after the bank already rose borrowing costs to 4 percent at its gathering.
IGFX technical analysis The demand for NZD/USD was limited on concern a U.S. IGFX technical analysis report may show that the housing starts dropped in February; raising speculation the global recovery is slowing which cuts demand for so called higher-yielding assets.IGFX technical analysis
Daily Technical Analysis from IGFX technical analysis - Our Focus Currencies for Today

[SIZE="6"]GBP/USD (2 Hour)[/SIZE]

IGFX technical analysis After the GBP broke through its short-term support as shown in our report yesterday, the currency pair declined near to the 1.5000 level. IGFX technical analysis Thus it seems unlikely to cross the overall longterm bearish trend-line rather we maybe have to allow for a continuing bearish movement near to 1.4872 if the support around the 1.5000 level won’t be strong enough.IGFX technical analysis

[SIZE="6"]EUR/GBP (2 Hour)[/SIZE]

IGFX technical analysis Since the middle of February the EUR/GBP has been trading close to a bullish trend-line and touched already its resistance around 0.9143 twice. IGFX technical analysis Now it remains to be seen if the trend could support the bulls once again to climb over the resistance around 0.9100 otherwise it may fall back near to its support around 0.9046.IGFX technical analysis

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