In The Eyes of the Experts – 05/07/2012

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By Nir Yaffe
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What is this report?

In the morning the experts meet in the dealing room in order to prepare themselves for another trading day. They read the business press, and note relevant economic announcements expected during the day. They also consider the support and resistance lines and discuss the important rates in the major pairs; they indicate which pairs may strengthen and those which could weaken. Afterwards they wish everyone a successfully day of trading and turn on the computer screens...

Below you can find pairs the experts assume may be strengthen and weaken during the trading day; support and resistance lines relevant to the day's trading and critical time for trading each day (important news etc.).

Currencies to watch for Long:

  • JPY
  • AUD
  • CAD

 

Currencies watch for Short:

  • GBP
  • EUR
  • CHF

 

Today's important times (GMT+2):

  • EUR Tentative –Spanish and French 10-Y Bond action
  • GBB – 14:00
  • EUR – 14:45,15:30
  • USD -15:15,15:30,17:00

 

Important rates:

Pair R2 R1 Pivot S1 S2
EURUSD 1.2443 1.2479 1.2542 1.2578    1.2642
GBPUSD 1.5498    1.5539    1.5613 1.5655 1.5729
USDJPY 79.45 79.69 79.82 80.06 80.19
USDCHF 0.9497 0.9547 0.9575    0.9624 0.9652

USDCAD   
1.0110 1.0121 1.0131 1.0143 1.0152
AUDUSD 1.0221 1.0242 1.0280 1.0301 1.0339   

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