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Analysis       

 

FX Weekly - Review 12 June 2013

 

  EUR/USD MT: continuation of the rebound.
Pivot: 1.2800
Our Preference: LONG position above 1.28 with 1.35 & 1.3710 in sight.
Alternative Scenario: Below 1.28 down move to 1.2650 & 1.2450.
Comment: the pair has rebounded and is breaking above its resistance, the RSI is well directed.

 
 




 
  USD/CAD MT: caution.
Pivot: 1.0030
Our Preference: Long position above 1.0030 with 1.0520 & 1.0650 in sight.
Alternative Scenario: Below 1.0030 look for further decline to 0.9625.
Comment: a key rising trend line drawn from the bottom of September 2012 maintains bullish stance.

 
 




 
  USD/JPY MT: the upside prevails.
Pivot: 94.45
Our Preference: LONG position above 94.45 with 100 & 103.8 in sight.
Alternative Scenario: Below 94.45 down move to 90.85 & 87.5.
Comment: the pair is facing a pull back ahead of a rebound.

 
 




 
  AUD/USD MT: the downside prevails.
Pivot: 0.9910
Our Preference: SHORT position below 0.9910 with 0.9200 & 0.8765 in sight.
Alternative Scenario: Above 0.9910 look for further upside to 1.062.
Comment: the RSI has broken below a bullish trend line. Both the 20-day and the 50-day moving average are declining and maintain downward momentum.

 
 




 
  GBP/USD MT: continuation of the rebound.
Pivot: 1.5000
Our preference: LONG position above 1.50 with targets at 1.5770 or even 1.5915.
Alternative scenario: A break below 1.50 would call for further weakness to 1.48.
Comment: the pair is on the upside and is breaking above its resistance, the RSI is well directed.

 
 




 
  EUR/JPY MT: the upside prevails.
Pivot: 124.50
Our Preference: LONG position above 124.50 with 134 & 138.45 in sight.
Alternative Scenario: Below 124.5 down move to 118.50 & 114.65.
Comment: the pair is facing a pull back but remains on the upside.

 
 


 

 

Disclaimer
Trading foreign currencies is a challenging and potentially profitable opportunity for educated and experienced investors. However, before deciding to participate in the Forex market, you should carefully consider your investment objectives, level of experience and risk appetite. Most importantly, do not invest money you cannot afford to lose.

There is considerable exposure to risk in any foreign exchange transaction. Any transaction involving currencies involves risks including, but not limited to, the potential for changing political and/or economic conditions that may substantially affect the price or liquidity of a currency.

More over, the leveraged nature of FX trading means that any market movement will have an equally proportional effect on your deposited funds. This may work against you as well as for you. The possibility exists that you could sustain a total loss of initial margin funds and be required to deposit additional funds to maintain your position. If you fail to meet any margin call within the time prescribed, your position will be liquidated and you will be responsible for any resulting losses. Investors may lower their exposure to risk by employing risk-reducing strategies such as 'stop-loss' or 'limit' orders.

 
 

                                   

                           

 

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