| Forex and Dow Jones Recommended Levels
September 29, 2009 at 4:23 pm
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| | EUR/USD Today's support: - 1.4552 and 1.4536(main), where correction is possible. Break would give 1.4497, where correction also may be. Then follows 1.4476. Break of the latter would result in 1.4444. If a strong impulse, we would see 1.4425. Continuation will give 1.4405. |
| FX Technical Commentary
September 29, 2009 at 3:58 pm
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| | Euro 1.4585 Initial support at 1.4515 (Sept 14 low) followed by 1.4467 (Sept 9 low). Initial resistance is now located at 1.4725 (Sept 25 high) followed by 1.4844 (September 23 high) |
| Gbp/Usd Support at 38.2%
September 29, 2009 at 10:39 am
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| | Cable broke through the 1.6111 low in the past week, which means that wave C) or a much lower wave III) is in progress. Recent price moves have traded very close to our target at 38.2% Fibonacci retracement area, where the bounce from the wave IV lows on the long... |
| Chart Of The Day: AUD/USD
September 29, 2009 at 6:27 am
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| | After hitting a 13-month high close to the 0.8800 resistance last week, price action on AUD/USD, a daily chart of which is shown, has consolidated horizontally just above a key uptrend support line extending from the March lows. This currency pair is still very much entrenched in a clear uptrend,... |
| Major Pair 4 Hour Momentum Review
September 29, 2009 at 3:42 am
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| | Bollinger bands are designed to signal a trend continuation or reversal, and when used to work off the center line breaks, rather than trading the outer band action, can be a good secondary confirmation of potential price action to come. As a stand-alone indicator they sometimes struggle to keep up... |
| $ Index Bounce from 75-76 Support
September 29, 2009 at 2:47 am
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| | Prices on the dollar index chart have reached new lows in the past few days, between the 75.00-76.00 support zone, where wave V may already be completed. If so, then a move higher over the next few weeks should follow, especially once the upper side of the trading channel gets... |
| EURUSD: Nearer Term Weakness Set To Continue
September 29, 2009 at 2:23 am
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| | As a loss of upside momentum at the 1.4844 level(YTD high) continues to push the pair lower closing at 1.4620 on Monday and following through lower in early trading today, its nearby support standing at the 1.4514 level (Sept 14'09 low) is now being targeted. If the current weakness drives... |
| AUDUSD: Looking To Resume Its Medium Term Uptrend
September 29, 2009 at 2:22 am
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| | Having corrected for two days from its recent high at 0.8787, AUDUSD was seen closing higher on Monday suggesting that it has ended the said declines and now preparing to resume its MT uptrend. A break and hold above the 0.8787 level will have to materialize to resume that uptrend... |
| FX Thoughts for the Day
September 29, 2009 at 2:18 am
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| | Cable has risen sharply during the day. As metioned earlier, if the current upside momentum continues, we might see a rise towards 1.61 or even 1.62 in the coming sessions/days. However, the overall picture continues remain bearish and we expect a pull back from 1.61-62 once again towards 1.5900-5850. |
| Technical Analysis Daily: USD/JPY
September 29, 2009 at 12:16 am
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| | Dollar/Yen made a significant downward movement on Monday down to the 88.47 bottom, from where it recovered back later as expected in our forecast, closing the day at 89.64. On the 3 hour chart there is a downward channel formed with a strong bearish momentum, especially when the quotes went... |
| Currency Pair Daily Forecasts
September 28, 2009 at 11:23 pm
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| | EUR/USD-market strategy can be a sell from the level 1.4604$ To strengthen our analysis; we use many other indicators, starting with MACD (Moving Averages convergence divergence); we notice the MACD lines after a bearish crossover below the zero line. In order to find the power of the market, we use... |
| Daily FX Report
September 28, 2009 at 11:13 pm
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| | Since the middle of August, the USD has been trading in bearish trend channel. When it reached or crossed the upper line from the trend channel, the currency pair rebounded always. Now it reached the upper line of the trend channel again and it seems that the USD can`t cross... |
| Forex Technical Analysis
September 28, 2009 at 10:52 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. |
| U.S. Dollar In Trouble As JPY Showing Strength
September 28, 2009 at 10:28 pm
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| | The yen weakened against the dollar as Japan's Finance Minister said the government may take action in markets after the currency's gain to an eight-month high imperiled earnings for export-dependent companies. Japan's currency declined against all of its 16 major counterparts as Asian shares extended a global rally. The dollar... |
| Technical Analysis Daily: GBP/USD
September 28, 2009 at 10:04 pm
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| | On Monday Pound/Dollar continued its downward movement, falling below the psychological 1.5900 level down to the 1.5774 bottom, from where it rose to 1.5920, closing the day at 1.5879. Today the Cable continued weakening, as expected in our forecast, and our preferable scenario remains downwards, with targets towards the nearest... |
| Forex Technical Update
September 28, 2009 at 9:32 pm
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| | The EURUSD took major support close to 1.4565 levels and maintaining bullishness despite a ' strong dollar is important statement' from Trichet. Incase Euro stays above 1.4595 levels in the next 2 days bullishness would again resume in the pair.Immediate support is seen at 1.4563 (yesterday's low). Break below that... |
| Forex Technical Analytics
September 28, 2009 at 9:12 pm
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| | The estimated test of key supports was confirmed but relative sales activity growth marked by OsMA trend indicator did not incline to the implementation of pre-planned buying positions. At the moment, evaluating the general outlook favouring to bullish party with suppositions of rate correction period incompleteness we can assume probability... |
| FX Technical Analysis
September 28, 2009 at 8:54 pm
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| | EURUSD Comment: Correcting and consolidating, clearly above the most recent Fibonacci retracement, between the nine-day and twenty-six day averages. Allow for more sideways work today and maybe for a fortnight. |
| Technical Analysis for Major Currencies
September 28, 2009 at 8:41 pm
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| | The Euro versus Dollar pair continued to trade around the pivot level at 1.4615, as it moves within a bearish channel, seen in the image above, where we expect the pair is to continue declining. We believe the pair is to decline on the intraday basis targeting 1.4500, with an... |
| Technical Analysis for Crosses
September 28, 2009 at 8:37 pm
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| | In addition to the previous potential classical double top formation, the daily time scale offers the possibility for an Elliott bearish scenario as seen on our provided chart. We see that the pair has created a bearish trend line, claiming that the bigger fifth wave is under way for the... |
| EUR/USD Trades Lower in Downward Channel
September 28, 2009 at 8:25 pm
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| | In a typical downward channel the pair will trend lower within the confines of the two trendlines with relatively little movement outside of the channel. However in this case we can see that there seems to be an abnormal amount of volatility around the outskirts of the channel as there... |
| Technical Analysis Daily: EUR/USD
September 28, 2009 at 7:10 pm
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| | Euro/Dollar continued the bearish movement on Monday down to the 1.4565, from where increased up to 4669, as expected, closing the day at 1.4620. Of the 3 hour chart quotes broke under the 1.4670 support, and may soon test the important support at 1.4595. Although there was a serious threat... |
| The Daily Forecaster: USDCAD
September 28, 2009 at 7:00 pm
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| | Price fell short of target and the correction developed sooner. However, I feel we may have even seen the corrective low at 1.0825 though we should allow for 1.0786-97. Overall I feel we shall see a recovery from this support area or it may just come directly and this will... |
| Foreign Exchange Market Commentary
September 28, 2009 at 5:58 pm
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| | EUR/USD closed lower on Monday due to short covering. The low-range close sets the stage for a steady to lower opening on Tuesday. 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... |
| Market Morning Briefing
September 28, 2009 at 5:51 pm
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| | Most non-Dollar currencies remain strong. The Euro (1.4618) has been finding Support near 1.4585 after having seen a corrective fall yesterday. The Aussie (0.8739) has also recovered after correcting down to 0.8585 yesterday. Dollar-Yen (89.95) had seen a sharp fall to 88.25 yesterday, but might see a bounce towards 90.70-91.20... |
| Forex and Dow Jones Recommended Levels
September 28, 2009 at 4:26 pm
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| | EUR/USD Today's support: - 1.4552 and 1.4536(main), where correction is possible. Break would give 1.4497, where correction also may be. Then follows 1.4476. Break of the latter would result in 1.4444. If a strong impulse, we would see 1.4425. Continuation will give 1.4405. |
| Daily Technical Analysis
September 28, 2009 at 4:22 pm
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| | The EURUSD had a bearish momentum yesterday but not as strong as I had expected. Moving in a volatile market, the pair attempted to push lower, slipped below 1.4595, bottomed at 1.4563 but bounced higher at 1.4678 before closed lower at 1.4612 after Trichet's comment. As reported by Bloomberg, Trichet... |
| FX Technical Commentary
September 28, 2009 at 3:41 pm
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| | Euro 1.4620 Initial support at 1.4515 (Sept 14 low) followed by 1.4467 (Sept 9 low). Initial resistance is now located at 1.4844 (Sept 23 high) followed by 1.4866 (September 22 2008 high) | | | 
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