GAINSY Hottest Forecasts

(GAINSY Ichimoku Analysis)

http://www.gainsy.com/templates/sj_w.../icons/usd.png Forex Signal Wrap-up: USD/JPY – Hold short entered at 94.90

Despite intra-day brief fall to 94.03, lack of follow through selling and current recoil suggest consolidation would be seen and test of 94.65-70 cannot be ruled out, however, fracture of intra-day high of 94.91 is needed to abort our bearishness and prolong choppy trading within recent established range of 93.50-96.71 and test of previous resistance at 95.14 cannot be ruled out but upside should be limited to 95.45-50 and price should falter well below 96.14...

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http://www.gainsy.com/templates/sj_w.../icons/usd.png Forex Signal Wrap-up: EUR/USD – Sell at 1.2900 or buy at 1.2705

As the single currency has fallen again after brief recovery, suggesting recent decline from 1.3711 is still in progress and further weakness to 1.2720-25 (1.236 times projection of 1.3107-1.2844 measuring from 1.3050) would be seen, however, loss of downward momentum should prevent sharp fall below there and reckon 1.2700-05 would limit downside, bring recoil later, above the Tenkan-Sen (now at 1.2802) would bring recovery to the Kijun-Sen (now at 1.2821) but fracture of intra-day resistance at 1.2867 is needed to signal low is formed, bring retracement to 1.2887-90 (current level of the lower Kumo and yesterday’s high, having said that, the Ichimoku cloud top (now at 1.2939) should remain intact, bring another decline...

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http://www.gainsy.com/templates/sj_w.../icons/usd.pngIntraday Statement: Euro Plummets on Italy, Canadian USD Surge on Inflation
(GAINSY Technical Analysis)

Euro's decline resumed today on news coming out from Italy. Italy sold EUR 6.91b in bonds today slightly below maximum target of EUR 7b. EUR 3b in 10 year bonds were sod with bid-to-cover ratio at 1.33 times, lower than prior auction's 1.65 times. EUR 3.91b in 5 year bonds...

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http://www.gainsy.com/templates/sj_w.../icons/usd.png Elliott Wave Forecast: EUR/GBP – Buy at 0.8410
(GAINSY Elliott Wave Analysis)

Although the single currency has fallen again after brief recovery and near term downside risk remains for current c leg of the wave iv to bring correction of recent upmove to previous support at 0.8442 (wave iv trough), however, reckon 0.8425 (50% Fibonacci retracement of 0.8035-0.8815) would limit downside and...

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http://www.gainsy.com/templates/sj_w.../icons/usd.png Canadian Consumer Price Inflation Rebounded in February
(GAINSY Fundamental Analysis)

The unadjusted all-items Canadian CPI index rose 1.2% in February 2013 and brought the annual inflation rate to 1.2% from 0.5% in January. On a seasonally adjusted basis, consumer prices rose 0.7%. The Bank of Canada's core measure posted a larger than expected 0.8% gain in February on an unadjusted...

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(GAINSY Ichimoku Analysis)

http://www.gainsy.com/templates/sj_w.../icons/usd.png Forex Signal: EUR/USD – Sell at 1.2900 or buy at 1.2705

As the single currency has recoiled after fallingt to 1.2751 yesterday, suggesting consolidation above this level would be seen and recovery to the Ichimoku cloud bottom (now...

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http://www.gainsy.com/templates/sj_w.../icons/usd.png Forex Signal: USD/CHF – Buy at 0.9460

As the greenback has retreated after rising to 0.9555 overnight, suggesting minor consolidation below this level would be seen and near term downside risk is seen for...

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(GAINSY Technical Analysis)

http://www.gainsy.com/templates/sj_w.../icons/usd.png RBA's Financial Stability Stocktaking Suggests Improve Overall Conditions, Warns of Situation in Eurozone

The RBA's semi-annual Financial Stability Stocktaking indicated that global banking system has improved in general. Yet, it cautioned the risks ahead and warned that banks in the periphery 'are still experiencing elevated funding costs, deteriorating asset performance and weak profitability'. In Australia, the report suggested that banks are in a...

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http://www.gainsy.com/templates/sj_w.../icons/usd.png Daily Statement: Euro Soft as Cypriot Banks Reopen with Capital Controls

Euro stays soft broadly even though markets are starting to get quiet in pre-holiday trading. Cypriot banks reopen today as the island country unveiled radical capital control measures. Under the rules, individuals are only allowed to transfer a maximum of EUR 3000 out of the country. And overseas use of...

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http://www.gainsy.com/templates/sj_w.../icons/usd.png Elliott Wave Forecast: AUD/USD – Buy at 1.0360
(GAINSY Elliott Wave Analysis)

Aussie’s retreat after rising to 1.0497 earlier this bank week has retained our view that consolidation below this level would be seen and pulllback to 1.0400 cannot be ruled out, however, downside should be limited to 1.0350-60 and bring another upmove for the rally from 1.0116 low (bottom of 2nd c...

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(GAINSY Fundamental Analysis)

http://www.gainsy.com/templates/sj_w.../icons/usd.png AUD/USD: Australia's CPI Eases, Private Sector Credit Increases

The pair is expected to find support at 1.0400, and a fall through could take it to the next support level of 1.0374. The pair is expected to find its first resistance at 1.0466, and a rise through could take it to the next resistance level of 1.0506....

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http://www.gainsy.com/templates/sj_w.../icons/usd.png USD/CAD: Canadian CPI Rose More Than Expected In February

The pair is expected to find support at 1.0144, and a fall through could take it to the next support level of 1.0123. The pair is expected to find its first resistance at 1.0192, and a rise through could take it to the next resistance level of 1.0219....

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(GAINSY Fundamental Analysis)

http://www.gainsy.com/templates/sj_w.../icons/usd.png USD/CHF: Swissy Moving Northwards In The Asian Session

The pair is expected to find support at 0.9490, and a fall through could take it to the next support level of 0.9446. The pair is expected to find its first resistance at 0.9567, and a rise through could take it to the next resistance level of 0.9600....

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http://www.gainsy.com/templates/sj_w.../icons/usd.png EUR/USD: Italian Worries Pushed Euro Lower, Trading Higher This Morning

The pair is expected to find support at 1.2737, and a fall through could take it to the next support level of 1.269. The pair is expected to find its first resistance at 1.2844, and a rise through could take it to the next resistance level of 1.2904....

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http://www.gainsy.com/templates/sj_w.../icons/usd.png Italy's Gridlock Deepens, Grillo Slams Door On Bersani's government bid

Investor concerns over Cyprus are rapidly being replaced by fears for Italy, where political deadlock continues between country's main leadership candidates. The Italian Democratic Party leader Pier Luigi Bersani was rejected by Five Star Movement leaders Beppe Grillo after talks aimed at forming a governing coalition on Wednesday....

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http://www.gainsy.com/templates/sj_w.../icons/usd.png Cypriot Banks To Be Opened, EUR Offered

The overnight markets traded on risk-off sentiment over the concerns on Cypriot banks reopening and the spike in the Italian yields amid disappointing auction. Moody’s revised the Cyprus’ rating down to Caa2 due to the risk of exit from the Euro-Zone. Today, Cypriot banks finally open their doors at 09:00...

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(GAINSY Fundamental Analysis)

http://www.gainsy.com/templates/sj_w.../icons/usd.png Euro Decline Reaccelerates

Sentiment on Europe turned further negative, weighing on the euro across the aboard. EUR/USD set a new correction low and EUR/GBP is testing the key 0.8440 support. Today, the focus will still be on Italy an Cyprus. We expect investors to stay cautious on the euro going into the long...

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http://www.gainsy.com/templates/sj_w.../icons/usd.png European Stocks Mixed On Italy, Cyprus Concerns

European shares turned mixed in the opening minutes of Thursday trading, as investors concerns over Cyprus, which is poised to impose capital controls on banks when they re-open on Thursday, are rapidly being replaced by worries over the political stalemate in Italy....

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http://www.gainsy.com/templates/sj_w.../icons/usd.png Who Will Be 'Cyprussed' Next?

The euro (EUR) decreased sharply against the US dollar (USD) before recovering somewhat. The pair touched a six month low at 1.2750 before correcting slightly to 1.2790. The single currency is seen tumbling almost daily the past two bank weeks as investors are looking at which will be the next Eurozone...

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http://www.gainsy.com/templates/sj_w.../icons/usd.png German Unemployment Unexpectedly Rises In March, Euro Drops To Four-Month Low

German unemployment unexpectedly rose in March amid tensions in the euro area on Cyprus and Italy which weighed on hiring by German companies. The number of job seekers rose a seasonally adjusted 13,000, compared with expectations of 3,000, to 2.94 million, according to Federal Labor Agency, while the adjusted unemployment...

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(GAINSY Fundamental Analysis)

http://www.gainsy.com/templates/sj_w.../icons/usd.png Euro Weakness Broadens

The risk-off is broadly the main theme of the day as the concerns on Cyprus and Italy remain the main drivers on the FX trading. As the Cypriot banks open their doors for the first time after 12 day, Euro tests 1.2750/55 zone for the third time since yesterday....

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http://www.gainsy.com/templates/sj_w.../icons/usd.png If Depositors Run Where Will The EURO Hide?

All eyes are on Cyprus again today as local banks are due to reopen after the government announced capital control measures to prevent a flight of deposits. The ordinary investor remains cautious, with current sentiment further undermined by the Italians failure so far to form a government and China's tightening...

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http://www.gainsy.com/templates/sj_w.../icons/usd.png Canadian January GDP Stronger than Expected

January 2013 GDP rose a stronger than expected 0.2%, which helped offset the 0.2% decline recorded in December 2012. Expectations going into the report had been for a modest 0.1% gain. Strength in the month was led by a 0.4% rise in output in goods-producing industries. The increase received a...

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http://www.gainsy.com/templates/sj_w.../icons/usd.png U.S. Statement on Fourth-Quarter 2012 GDP Growth Showed Another Upward Revision

The third estimate of US fourth-quarter 2012 GDP growth showed another upgrade for the pace of economic activity to a 0.4% annualized rate from the 0.1% gain reported in the second estimate, and the advanced report showed a 0.1% decline. The overall 0.3 percentage point upward revision was accounted for...

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http://www.gainsy.com/templates/sj_w.../icons/usd.png Forex Signal Wrap-up: EUR/USD – Sell at 1.2930 or buy at 1.2705
(GAINSY Ichimoku Analysis)

Despite intra-day retreat to 1.2756, as the single currency has recoiled after holding above indicated support at 1.2751 (yesterday’s low), retaining our view that further consolidation would be seen and mild upside bias remains for retracement to 1.2865 (38.2% Fibonacci retracement of 1.3050-1.2751) and possibly towards 1.2890 resistance but renewed selling interests should emerge around 1.2936 (61.8% Fibonacci retracement of 1.3050-1.2751), bring another decline. A fracture of said support at 1.2751 would signal recent decline from 1.3711 has resumed and extend weakness to 1.2720-25 (1.236 times projection of 1.3107-1.2844 measuring from 1.3050), however, loss of downward momentum should prevent sharp fall below there and reckon 1.2700-05 would limit downside, bring recoil later...

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(GAINSY Ichimoku Analysis)

http://www.gainsy.com/templates/sj_w.../icons/usd.png Forex Signal Update: EUR/USD – Sell at 1.2930 or buy at 1.2705

Despite yesterday’s retreat to 1.2756, the subsequent recoil after holding above this bank week’s low at 1.2751 has retained our view that further consolidation above this level would be seen and mild upside bias remains for retracement to 1.2865 (38.2% Fibonacci retracement of 1.3050-1.2751) and possibly towards 1.2890 resistance but renewed selling interests should emerge around 1.2936 (61.8% Fibonacci retracement of 1.3050-1.2751), bring another decline. A fracture of said support at 1.2751 would signal recent decline from 1.3711 has resumed and extend weakness to 1.2720-25 (1.236 times projection of 1.3107-1.2844 measuring from 1.3050), however, loss of downward momentum should prevent sharp fall below there and reckon 1.2700-05 would limit downside, bring recoil later...

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http://www.gainsy.com/templates/sj_w.../icons/usd.png Forex Signal Update: GBP/USD – Buy at 1.5150

Although cable has retreated from 1.5222, yesterday’s breach of indicated resistance at 1.5181 signals low has been formed at 1.5092 earlier this bank week and above said resistance would suggest the fall from 1.5280 (this bank week’s high) has ended and bring further gain to 1.5250 and eventually retest of this level. Having said that, only fracture of 1.5280 would retain bullishness and extend the rise from 1.4832 low has resumed and extend headway to 1.5300 and possibly towards 1.5330-35...

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(GAINSY Fundamental Analysis)

http://www.gainsy.com/templates/sj_w.../icons/usd.png USD Softer ahead of Holiday

The USD is trading mostly softer ahead of the holiday bank weekend and amid month-end and quarter-end flows. In the G10 space, the buck is only stronger against the commodity currencies (NZD, CAD, AUD). US equities traded to the upside with the S&P 500 1 finally making a new record high...

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http://www.gainsy.com/templates/sj_w.../icons/usd.png Tight-Range Trading As Liquidity Drains

Not much has changed since yesterday. The overnight trading was rather on the sidelines as the majority of markets are closed for the Easter holidays. The global risk appetite remains weak as IMF, EU and ECB are working to complete the remaining technical details of the Cyprus bailout plan; while...

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http://www.gainsy.com/templates/sj_w.../icons/usd.png Calm Markets Call For Options

The euro (EUR) decreased sharply against the US dollar (USD) after managing to regain some previous losses. The pair is moving below 1.2800 as its trying to settle in a new lower level having digested the bail-in in Cyprus. Looking ahead, the single currency has some tough issues to overcome....

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http://www.gainsy.com/templates/sj_w.../icons/usd.png Sideline Trading on FX Markets
(GAINSY Fundamental Analysis)

The markets are quiet as the majority of them are closed due to Easter Holidays. The FX trading remains on sideways, as the markets take a fracture in the middle of the ongoing turmoil. This gives us a great opportunity to sit back and recapitulate the recent events and resize...

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http://www.gainsy.com/templates/sj_w.../icons/usd.png Intraday Statement: Markets Steady in Holiday Trading
(GAINSY Technical Analysis)

Markets are generally start on Good Friday holiday trading. Data released from US saw personal income rose more than expected by 1.1% in February but spending missed consensus sand rose 0.4% only. Headline PCE accelerated slightly to 1.3% yoy while core CPI was unchanged at 1.3% yoy. The data triggered...

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http://www.gainsy.com/templates/sj_w.../icons/usd.png Forex Signal Wrap-up: GBP/USD – Buy at 1.5150
(GAINSY Ichimoku Analysis)

Yesterday’s breach of indicated resistance at 1.5181 together with intra-day rise to 1.5222 signal low has been formed at 1.5092 earlier this bank week and above said resistance would suggest the fall from 1.5280 (this bank week’s high) has ended and bring further gain to 1.5250 and eventually retest of this level. Having said that, only fracture of 1.5280 would retain bullishness and extend the rise from 1.4832 low has resumed and extend headway to 1.5300 and possibly towards 1.5330-35...

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http://www.gainsy.com/templates/sj_w.../icons/usd.png Markets Range Bound in Holiday Trade
(GAINSY Fundamental Analysis)

Currency markets were quiet amid holiday trading with most equity and bond markets closed and the USD is relatively flat. Economic data out of the US was slightly better as personal incomes and spending increased while Japanese economic releases were weak. In Europe, Italian political uncertainty kept the euro mostly...

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(GAINSY Ichimoku Analysis)

http://www.gainsy.com/templates/sj_w.../icons/usd.png Forex Signal: USD/JPY – Sell at 94.35

The greenback met renewed selling interests just below the Ichimoku cloud top and has fallen again today, suggesting a retest of strong support at 93.50-54 would be seen,...

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http://www.gainsy.com/templates/sj_w.../icons/usd.png Forex Signal: GBP/USD – Buy at 1.5160

As the British pound found good support at 1.5092 last bank week and staged a strong recoil, adding credence to our view that correction from 1.5280 (last bank week’s high) h...

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http://www.gainsy.com/templates/sj_w.../icons/usd.png JPY Higher after Tankan, ISM Manufacturing Watched
(GAINSY Technical Analysis)

Markets are rather quiet as most Asian markets and European markets are on holiday today. JPY is a bit stronger as Japanese stocks were dragged down by disappointing Tankan survey. The quarterly Tankan for large manufacturing improved to -8 in Q1, up from -12, but missed expectation of -7. Non-manufacturing...

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