IGTFX technical analysis Market Review – igtfx , Fundamental Perspective

igtfx , The GBP gained for a third day versus the USD after reports showed the U.K. igtfx , gross domestic product increased more than expected in the fourth quarter while house-prices grew as well. igtfx , The GBP performed its biggest gain since October versus the EUR as the Office for the National Statistics published that the U.K. igtfx , economy grew 0.4 percent in the last three months of 2009, compared with a previous estimate of 0.3 percent. igtfx , The GBP gained versus the JPY as well after it showed its sixth daily gain and reached its highest point since February 23rd. igtfx , The Nationwide Building Society said the average cost of a home rose 0.7 percent from February igtfx , and 9 percent from the last year. igtfx , The GBP/JPY climbed to a high near 140.63 while the EUR/GBP has fallen to a low around 0.8878. igtfx ,

igtfx , The AUD has fallen against the igtfx , USD and the igtfx , igtfx , NZD after retail sales and home-building approvals unexpectedly fell in February, igtfx , which decreased pressure on the central bank to raise the benchmark interest rate next week. igtfx , Australian retail sales fell 1.4 percent in igtfx , February while the median forecast of 19 economists expected a 0.3 percent increase. igtfx , The nations’ building approvals in February fell 3.3 percent while economists expected a 2.1 percent increase. igtfx , Anyway, igtfx , the AUD/USD fell back from its one-week high and reached a low near 0.9140 while the AUD/NZD fell over 50 pips, igtfx , touching a low by 1.2879. igtfx ,

igtfx , The JPY fell to its lowest level since January 12th against the EUR as signs of a global recovery pushed demand for Japan’s currency as a refuge. igtfx , The JPY fell against all 16 of the major currencies before an industry report today, is expected to show that U.S. companies added jobs for the first time since January 2008. igtfx , The EUR/USD fell for a second day touching a low near 1.3392 while the EUR/JPY extended its gains to its high from yesterday around 125.45. igtfx ,

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

AUD/CAD (Daily)

igtfx , Since the beginning of November, igtfx , the AUD/CAD has been falling along a bearish trend line and a support level around 0.9240. igtfx , As we can see, igtfx , the market pulled back after it tested the price above the long-term bearish trend line. igtfx , Furthermore the Commodity Cannel Index may signalize an overbought market. igtfx , This might be a sign for a continuing bearish trend towards the support around 0.9240. igtfx ,
igtfx , Intraday Support & Resistance igtfx , (Daily)Support Levels around Resistance Levels around igtfx ,
igtfx , 0.924 igtfx , 0.9385
igtfx , 0.9194 igtfx , 0.942
igtfx , N/A igtfx , 0.945

GBP/USD (4 Hour)

igtfx , After breaking the downward trend line on March 26th, igtfx , the GBP/USD gained until it reached the horizontal resistance level around 1.5115. igtfx , Williams’ Percent Range is still moving above the -20 level. The Indicator already reached a high around the -6.04 level, igtfx , which is the resistance from the middle of March and February. igtfx , Nevertheless, igtfx , a break though the level around -20 could be a short signal. igtfx ,
igtfx , Intraday Support & Resistance igtfx , (4 Hour)Support Levels around Resistance Levels around igtfx ,
igtfx , 1.4995 igtfx , 1.5115
igtfx , 1.4925 igtfx , 1.52
igtfx , 1.487 igtfx , 1.536