| Chart Of The Day: USD/CAD
October 9, 2009 at 5:36 am
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| | Price action on USD/CAD, a daily chart of which is shown, has broken down decisively below its previous consolidation, continuing the downtrend in the pair that has been in place since the long-term high was reached in early March. This occurs in an environment where the U.S. dollar has been... |
| EUR/USD Settles above Thursday Lows Following French IP
October 9, 2009 at 4:55 am
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| | The EUR/USD is settling above Thursday lows and our 3rd tier uptrend line after pulling back from Thursday highs. Much better than expected French Industrial Production data is helping buoy the Euro after investors decided to lock in profits earlier. The outperformance of French versus German econ data stems from... |
| GBP/USD Heads Below 1.60 After Failing to Cross 9/30 Highs
October 9, 2009 at 4:54 am
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| | The Cable is moving lower today at a brisk pace after failing to eclipse 9/30 highs and our 4th tier downtrend line. The Cable has proceeded to pullback towards 10/7 lows as the FX markets experience a broad-based appreciation of the Dollar. The GBP/USD's inability to climb past the aforementioned... |
| USD/JPY Pops Amid Broad-Based Dollar Strength
October 9, 2009 at 4:51 am
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| | The USD/JPY is popping nicely above October lows after Core Machinery Orders data came in lighter than analyst expectations. Broad-based Dollar strength is only helping the USD/JPY head higher as we recognize pullbacks in both the GBP/USD and EUR/USD. Hence, investors are still a bit cautious despite the optimism resulting... |
| $ Waves Goodbye To Support
October 9, 2009 at 3:32 am
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| | The U.S. dollar was higher against the majors during the Asia session, when the China advanced for almost 5%, Nikkei for less than 2% while HSI finished the session around the zero. The main reason for China gains was in the U.S. stock market rally that has started already on... |
| FX Thoughts for the Day
October 9, 2009 at 2:21 am
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| | Cable has fallen sharply during the day. It has immediate Support at 1.5916-10 and Resistance in the region 1.6000-30. If this Resistance is honoured, expect a fall towards 1.5850-30 during the US session. The Projected Max High and Low for the day is at 1.6088 and 1.5916 respectively. In the... |
| GBPUSD: Price Stall To Target The 1.5768 Level
October 9, 2009 at 1:58 am
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| | The pair's recovery higher has stalled at the 1.6118 level and it is now turning back lower in early trading today. With its Thursday gains now being wiped out, GBP is presently facing downside pressure towards the 1.5768 level with a loss of there turning focus lower to the 1.5500... |
| EURUSD: Backs Off The 1.4816 Level
October 9, 2009 at 1:57 am
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| | Weakness in early trading today has seen the pair taking back part of recent recovery after trading higher to close at 1.4772 level on Thursday. That leaves immediate risk to the downside with its Oct 07'09 low at 1.4649 level being the next support. A violation of that level will... |
| Technical Analysis Daily: USD/JPY
October 9, 2009 at 12:21 am
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| | Dollar/Yen traded hesitantly on Thursday. After reaching the 88.16 bottom, the currency couple started rising up to the 88.65 top, closing the day at 88.38. This morning climbing continued towards the upper limit of the downward channel at 89.35, which for now does a good job holding bullish movements. If... |
| Daily FX Report
October 8, 2009 at 11:30 pm
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| | The weak USD has also lost against the JPY. It already tried since the end of September to break the lower line of the Fibonacci fan. After it touched the 88.25 support level twice, it pulled back and reached repeatedly the lower line of the fan. According to the MACD... |
| Currency Technical Report
October 8, 2009 at 11:25 pm
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| | Euro moved towards our first targets at 1,4800-20, confirming our basic scenario, and then formed a correction, testing 1.4700 area as support. A sideways formation between 1,4600-50 and 1,4800-50 area, would be a possible scenario. We should also mention that gold, crude oil and stock indices have also reached important... |
| Foreign Exchange Market Commentary
October 8, 2009 at 10:58 pm
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| | EUR/USD closed higher on Thursday as it extends this week's rally. The high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI are bullish signalling that sideways to higher prices are possible near-term. If it extends this week's rally, September's high crossing is... |
| USD Looking Dominant Against Ineffective Yen
October 8, 2009 at 10:49 pm
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| | The dollar rose the most in two months against the yen as Federal Reserve Chairman Ben S. Bernanke said the bank is ready to tighten monetary policy once the economy improves, increasing the appeal of U.S. assets. The yen dropped against 15 of its 16 most-traded counterparts after Japan's machinery... |
| Technical Analysis Daily: GBP/USD
October 8, 2009 at 10:05 pm
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| | Pound/Dollar attempt to decrease yesterday, reaching a bottom at 1.5950, from which point the Cable rose sharply to the 1.6111 peak, closing the day at 1.6068. Last week's volatile but indecisive market indicates consolidation, reflected in the formed triangle on the 3 hour chart. Our preferably scenario for now is... |
| Forex Technical Analysis
October 8, 2009 at 9:54 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. |
| Forex Technical Analytics
October 8, 2009 at 9:06 pm
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| | Short positions opened and saved before had positive result of overlap of minimal estimated target. OsMA trend indicator, having marked relative activity rise of both parties does not clarify the choice of planning priorities for today. Therefore, keeping to the suppositions of rate range movement and considering bullish development incompleteness... |
| Forex Technical Update
October 8, 2009 at 8:58 pm
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| | EURO had a moderate bullish momentum yesterday . The pair is now trading above the trendline resistance indicating bullish pressure still able to maintain it's momentum. Technically in nearest term the bias is bullish testing 1.4720 – 1.4850 area. However please note that in longer term perspective, the rejection to... |
| FX Technical Analysis
October 8, 2009 at 8:33 pm
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| | EURUSD Comment: Stalling just ahead of this year's high at 1.4845 and a potential small 'double top'. This suggests another week or two of consolidation which would allow the Ichimoku 'cloud' and trendline support to move closer to the Euro. Until the Euro manages a daily (and preferably weekly) close... |
| Daily Technical Outlook
October 8, 2009 at 8:12 pm
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| | Cable managed to recover some of its recent gains but the 1.6100-1.6130 resistance region has limited yesterday's gains. Current pullback into the 1.6000 zone could be corrective only, therefore uptrend may resume. A break above 1.6100/30 would confirm the short-term uptrend's resumption so keep an eye on that region. Current... |
| Technical Analysis for Crosses
October 8, 2009 at 8:07 pm
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| | The pair inclined aggressively, approaching the detected technical target of yesterday's analysis-check it here-. Thus; the previous discussed upside corrective rally towards the broken neckline of our captured daily double top around 147.00 zones has been activated. The daily candlestick formation in addition to the positive sign appearing on RSI... |
| Technical Analysis for Major Currencies
October 8, 2009 at 7:57 pm
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| | The Euro versus the Dollar neared our initial suggested target at 1.4845, before reversing back to the downside towards the key support for the minor channel at 1.4725. The stochastic indicator is still providing bearish signs, which may result in declines yet we believe the pair is to incline on... |
| Technical Analysis Daily: EUR/USD
October 8, 2009 at 7:18 pm
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| | On Thursday Euro/Dollar continued the ascending movement, reaching a peak at 1.4816, and closing the day at 1.4793. On the 3 hour chart 1.4815 is a key strong resistance at this stage. Short term signals are neutral for now, and some insignificant downward correction should not come unexpected today, with... |
| The Daily Forecaster: AUDUSD
October 8, 2009 at 7:16 pm
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| | The underlying MT direction is bullish while the daily bias is neutral. This may indicate price consolidation or an unclear wave structure that needs confirmation. Note key MT support & resistance levels that may break the MT trend or would suggest a resumption of the move higher. It is very... |
| Market Morning Briefing
October 8, 2009 at 5:29 pm
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| | A bit of profit-taking hits non-Dollar currencies. The Euro (1.4705) has dipped a bit from yesterday's high near 1.4818. The Aussie (0.9028) remains overall strong, although a little lower than yesterday's high of 0.9095. Dollar-Yen (89.15) has seen a decent bounce today, up from a low of 88.00 seen on... |
| Daily Technical Analysis
October 8, 2009 at 4:41 pm
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| | The GBPUSD had a bullish momentum yesterday. On h4 chart below we can see that the triangle has been violated to the upside indicating potential bullish view. Price now traded lower after topped at 1.6120, around 1.6057 at the time I wrote this comment. As long as the pair able... |
| FX Technical Commentary
October 8, 2009 at 3:47 pm
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| | Euro 1.4772 Initial support at 1.4581 (Oct 5 low) followed by 1.4467 (Oct 2low). Initial resistance is now located at 1.4844 (Sept 23 high) followed by 1.4908 (August 22 '08 high) | | | 
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