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IGTFX technical analysis

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1 IGTFX technical analysis on Fri Mar 26, 2010 7:02 am

IGTFX IGTFX technical analysis , The EU leaders found a joint solution for Greece debt difficulties at a summit on Thursday evening finally. IGTFX IGTFX It remains to be seen if that would help to stabilize the EUR. IGTFX However, we wish you a successful trading day and have a nice weekend. IGTFX

IGTFX Market Review – IGTFX Fundamental Perspective

IGTFX Before the EU summit yesterday evening the EUR extended its losses versus the USD touching its lowest level at 1.3268. IGTFX Weeks of speculation and uncertainty how the euro-nations could help Greece for the case of illiquidity came yesterday evening to an end as the leaders of all 16-euronations endorsed a joint proposal of France and Germany for a mix of IMF and bilateral loans. IGTFX , Each country would provide non-subsidized loans to Greece based on its stake in the ECB, a statement said. IGTFX , Altogether Europe would provide more than half the loans and the International Monetary Fund brings the rest. IGTFX , Nevertheless the loans will only be paid if Greece has no more options at the market to refinance its debts. IGTFX , Every euro-nation needs to validate this fact and have a veto. IGTFX , After the summit the EUR rose versus 14 of its 16 most-traded counterparts as Jean-Claude Trichet, President of the ECB said that he was “happy” that the region found a solution. IGTFX , The EUR/JPY gained yesterday for the second day to 123.90 at the highest level while the EUR/GBP closed nearly unchanged at 0.8961. IGTFX , The JPY strengthened from a 10-month low against the USD on speculation that Japanese exporters took advantage of its largest weekly loss this year to purchase the currency before the fiscal year will ends next week. IGTFX , Japan’s consumer prices declined for the 12th month in February, the statistic bureau in Tokyo said today. Prices excluding fresh food slid 1.2 percent from a year earlier. The GBP/USD declined as U.K. IGTFX , Chancellor of the Exchequer Alistair Darling said that the revised down his growth forecast for 2011, in line with the Bank of England forecast. IGTFX ,
IGTFX , The NZD climbed versus the JPY as the national trade surplus widened in February after rising commodity prices and a seasonal increase in farm production stoked exports. IGTFX , The AUD/USD heading for the first weekly loss this month and traded near the lowest level since March 9th on concern the Greece rescue package may curb demand for the so called higher yielding assets. IGTFX ,

IGTFX , Daily Technical Analysis - IGTFX , Our Focus Currencies for Today

EUR/USD (1 Hour)

IGTFX , During the Europe session the currency pair fell near to its daily support level around 1.3243, as shown in the report yesterday, before the EUR/USD recovered in the late U.S. trading hours. IGTFX , From the point of recovery the short-term moving average reversed its movement and seems to cross its long-term counterpart shortly. IGTFX , This maybe boosts the bulls and could be the beginning of an attack to the bearish trend-line. IGTFX , The ADX may show that the bearish power is nearly zero. IGTFX ,

IGTFX , Intraday Support & Resistance (H1)Support Levels around Resistance Levels around
1.3310 1.3324
1.3295 1.3375
1.3271 1.3435

EUR/JPY (4 Hours)

IGTFX , The EUR/JPY has been moving in a zigzag movement. IGTFX , As you can see the currency pair fell this week near to the March opening until it rebounded again. IGTFX , But now it seems that the bulls failed to cross the resistance around 123.49 and a long roving Doji may suggest a trend-reversal. IGTFX , Also the Commodity Channel Index may indicate a bearish trend as it crossed its +100 line yesterday.

IGTFX , Intraday Support & Resistance (H4)Support Levels around Resistance Levels around IGTFX ,
122.80 123.49
122.18 123.96
121.54 124.53

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