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IGTFX technical analysis

Discussion in 'Technical Analysis' started by igtfx.research, Mar 11, 2010.

  1. igtfx.research

    igtfx.research New Member

    Feb 28, 2010
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    IGTFX forex We are still focused on the Asia-Pacific currencies while

    economists are speculating about the reaction of the Chinese

    government. IGTFX forex We hope you will enjoy it and wish you a

    relaxed and successful trading day.

    Market review
    IGTFX forex The JPY and USD climbed against a basket of major

    currencies after Chinese reports showed factories and loans fueled,

    which added to be concerned about inflation in the region and the

    government will act to damp more growth. IGTFX forex The speculation

    about an act from the Chinese government boosted demand for low-

    yielding currencies as the JPY pulled back from a t***eek low against

    the EUR. IGTFX forex China’s consumer prices climbed 2.7 percent from

    a year earlier in February while the Industrial output gained 20.7

    percent in the first two months of the year. IGTFX forex The EUR/JPY

    fell from its yesterdays high at 124.00, which was its highest peak

    since February 23rd. IGTFX forex The JPY gained to a high of 123.02

    versus the EUR. IGTFX forex The Japanese currency reached a dayhigh at

    82.28 versus the AUD after it fell over the past four trading days. It

    finally pulled back from its low at 83.32, which was the lowest level

    since January 21st. The AUD fell against the USD as it has reached a

    seven-week high yesterday. IGTFX forex The bad performance may be

    caused by a report that published the nation’s employers added fewer

    jobs than economists expected. IGTFX forex The AUD/USD fell to a low

    at 0.9114 after it reached a high at 0.9193 yesterday, which was its

    strongest level since January 20th.
    Since February 9th, the CAD/CHF has been moving inside a bullish trend

    channel and Fibonacci projection level. IGTFX forex After touching the

    100% projection line around 1.0511 for the second time, the market

    pulled down and reached the lower line of the trend channel. IGTFX

    forex If the market could break out the bullish trend channel, it may

    fall towards the lower Fibonacci levels.

    Since the beginning of February, the CAD/JPY has been trading in an N

    formation with a resistance point around 88.30. IGTFX forex Yesterday,

    the pair has shown a small break-out through the resistance level

    before coming back.IGTFX forex It depends whether the pair will show a

    clearly movement along the levels. IGTFX forex If the pair will show a

    strong break through the resistance around 88.30, it might continue its

    bullish trend inside the channel.

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