| Chart Of The Day: EUR/GBP
September 30, 2009 at 6:37 am
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| | Price action on EUR/GBP, a daily chart of which is shown, has made a minor bearish correction within a steep overall uptrend. This occurs after price hit an approximate 6-month high around 0.9300 with a clear shooting star candle (a bearish indication) earlier in the week. As of Wednesday (9/30/2009),... |
| USD/JPY Heads Back Below 90
September 30, 2009 at 5:12 am
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| | The USD/JPY is heading south again after failing to break our 2nd tier uptrend line. The psychological games continue at central banks across the globe, and the BoJ is no exception. The BoJ revised their previous hawkish statements by saying they would consider intervening if the Yen appreciated to unhealthy... |
| GBP/USD Consolidates Around 1.60
September 30, 2009 at 5:11 am
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| | The Cable recovered nicely from Monday lows, feeding off of a combination of oversold conditions, positively mixed British econ data, and reassuring comments from the BoE. Britain's Current Account came in weak as we anticipated, fueled by consumption in light of a stronger Pound. Net Lending to Individuals made an... |
| EUR/USD Buckles Following Weak U.S. Employment Data
September 30, 2009 at 5:09 am
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| | Today's rally in the EUR/USD has hit a roadblock after America's ADP Non-Farm Employment Change number came in well below analyst expectations. Today's release couples with yesterday's disappointing CB Consumer Confidence release. Therefore, the U.S. continues to send negatively mixed signals, hampering the global economic outlook. In contrast to weak... |
| GBPUSD: Higher Recovery Eyes The 1.6132 Level
September 30, 2009 at 3:25 am
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| | Having recovered off the 1.5768 level, its Sept 28'09 high and followed through higher on Tuesday to close higher at 1.5968, further price extension was seen in early trading today driving GBP through its nearby resistance at the 1.6063 level, its daily 200 ema. With the current strength, the pair... |
| AUDUSD: Activates Medium Term Uptrend
September 30, 2009 at 3:24 am
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| | As indicated in our Tuesday analysis, AUDUSD's recovery off the 0.8584 level has yielded the resumption of its medium term uptrend following its break through its YTD high at 0.8787 today. On a hold onto those gains above the said level, additional higher prices are expected towards its Aug 10'08... |
| FX Thoughts for the Day
September 30, 2009 at 2:39 am
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| | Swiss broke below the Channel line Support at 1.0320 mentioned earlier and is now trading lower keeping intact the overall bearish sentiment. Significant Support is seen at 1.0275. If it holds we might see a rise towards 1.0330-50 in the US session. However if it continues to trade below 1.0300,... |
| Usd/Cad Two Wave Counts Possible
September 30, 2009 at 1:34 am
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| | Usd/Cad is still trading lower, after the 1.0990 highs were hit in the past few days. Yesterday we mentioned that this current move could be just a pull-back of a black wave II) of an extended red wave III, before the up-trend continues. If this is the case then market... |
| Currency Technical Report
September 30, 2009 at 1:08 am
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| | Euro's decline was resumed yesterday, close to important support levels at 1,4500-20 (low at 1,4527). The upward reaction that followed, was expected but is still in terms of a correction. We will look for more signs regarding the short term trend reversal from 1.4840-50 tops. |
| Technical Analysis Daily: USD/JPY
September 30, 2009 at 12:15 am
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| | Dollar/Yen made an indecisive movement on Tuesday, forming divergence on the 3 hour chart. On the 1 hour chart the currency couple made an unconvincing break down of 88.50, down to 88.26, from where it started rising up to yesterday's top 90.32, closing the day at 90.08. An upward triangular... |
| Forex Technical Analysis
September 29, 2009 at 10:56 pm
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| | EUR/USD is in a broad consolidation, after bottoming at 1.2331 (Oct.28,2008). Technical indicators are neutral, and trading is situated above the 50- and 200-Day SMA, currently projected at 1.4134 and 1.3523. |
| Daily FX Report
September 29, 2009 at 10:51 pm
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| | Since September, the EUR has lost against the CHF. It started a bearish phase along a downward Andrews Pitchfork channel. Currently, the market trades inside the lower channel and reached the support at 1.5084, but the support line was strong enough to pull back the EUR in the lower channel.... |
| Sterling Rebound After Strong Retracement Conclusion
September 29, 2009 at 10:29 pm
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| | U.K. consumer confidence jumped in September by the most since 1995 as optimism about the economy's prospects rebounded. An index of sentiment rose to minus 16, the highest since January 2008, from minus 25 the previous month, the market researcher said in an e-mailed statement today in London. A gauge of... |
| Technical Analysis Daily: GBP/USD
September 29, 2009 at 10:10 pm
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| | Pound/Dollar made a downward movement on Tuesday, reaching the 1.5829 bottom, as expected, where a the bearish impulse was limited and the Cable started rising up up to 1.5990, closing the day at 1.5959. After the strong downward momentum on 24-25 September down to 1.5925, the British Pound was oversold... |
| Foreign Exchange Market Commentary
September 29, 2009 at 9:13 pm
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| | EUR/USD closed lower on Tuesday due to short covering. The low-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI remain bearish signalling that sideways to lower prices are possible near-term. If it extends this week's decline, the 38% retracement level of this... |
| Forex Technical Analytics
September 29, 2009 at 9:06 pm
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| | The estimated test of key supports for the implementation of pre-planned buying positions has not been confirmed but further rate rise marked the sign of rate overbought with further reaction of relative sales activity rise that gives grounds to suppose further rate fall without clarifying the choice of planning priorities... |
| FX Technical Analysis
September 29, 2009 at 8:54 pm
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| | EURUSD Comment: A small bounce from support at 50% Fibonacci retracement and 26-day moving average at 1.4500. If we can take out yesterday's high at 1.4646 allow for a squeeze to the 9-day average at 1.4683. Hardly compelling stuff but that's what we have to expect for a period of... |
| Technical Analysis for Crosses
September 29, 2009 at 8:00 pm
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| | The subsidiary image shows a bearish candlestick structure accompanied by weakness of the upside correction, signaling that the pressure of the bigger picture Elliott sequence may start aggressively anytime as a normal result for the highly anticipated fifth wave scenario. Therefore we keep our intraday overview to the downside on... |
| Technical Analysis for Major Currencies
September 29, 2009 at 7:53 pm
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| | The cable gradually inclined yesterday, to reach the correction level at 1.6035, which resides at the key resistance for the minor bullish channel, seen in the image above. The stochastic indicator has entered an overbought area, which makes us believe the pair is to decline on the intraday basis; targeting... |
| USD/JPY Find Resistance At 61.8 Fib
September 29, 2009 at 7:46 pm
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| | After a steep drop below the 90 price level, the USD/JPY has begun to find its feet and has recovered a large portion of the previous decline. Despite the positive gains, the current recovery is being hinder by resistance at the 90.26 price level. |
| Technical Analysis Daily: EUR/USD
September 29, 2009 at 7:22 pm
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| | The descending scenario of the Euro/Dollar is still intact as the currency couple went down to 1.4534 on Tuesday, than rising up to 1.4643 as expected, closing the day at 1.4584. On the 3 hour chart descending channel is formed. However, this morning, the European is correcting upwards. The nearest... |
| The Daily Forecaster: EURJPY
September 29, 2009 at 6:25 pm
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| | No break was seen below 130.48 and gains seen from the 130.69 corrective low. I'm a bit mixed and there does seem risk of price retesting this 130.69 area again - but probably not below 130.60. If this is seen look for a bullish reversal pattern. Overall, I still remain... |
| Market Morning Briefing
September 29, 2009 at 5:42 pm
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| | Yesterday's corrective fall in the Asian-European hours for most non-Dollar currencies has given way to a fresh rise in the US hours yesterday and in Asia today. The Euro (1.4625) has risen from a low of 1.4526 while the Aussie (0.8792) has surged from a low near 0.8676. Some Resistance... |
| Daily Technical Analysis
September 29, 2009 at 4:37 pm
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| | The EURUSD attempted to push lower yesterday, bottomed at 1.4527 but closed higher at 1.4583. Although bearish correction seems limited now, on h4 chart below we still have a valid bearish channel and the pair still able to move below 1.4595 for now, indicating bearish correction remains valid testing 1.4440... | | | 
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