| Bye Bye, Or Buy Buy Dollar Index?
October 13, 2009 at 7:54 am
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| | The 4 hour chart views continue to reflect a market that has pushed the dollar to support, but seems unable to make the next push lower on the dollar index. That may be due to the fact that a weaker dollar draws in long speculative interest into oil and gold... |
| USD/JPY Edges Lower After Encountering 90 and our 2nd Tier
October 13, 2009 at 6:00 am
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| | The USD/JPY is drifting back beneath the highly psychological 90 level after being deflected by our 2nd tier downtrend line. We cautioned investors not to become overly optimistic concerning Friday's rally due to the strength of these two technical barriers. Friday's bounce was based off of broad-based oversold conditions for... |
| GBP/USD Bounces from Intraday Lows on Oversold Conditions
October 13, 2009 at 5:58 am
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| | The Cable is recovering from intraday losses after experiencing a key pullback since late Friday. The GBP/USD sank below our important 1st tier uptrend line and September lows, setting itself up for another leg down over the near-term. Ironically, the EUR/USD eclipsed its September highs today, signifying the contrasting paths... |
| EUR/USD Pops Past September Highs
October 13, 2009 at 5:57 am
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| | The EUR/USD has broken through our 3rd tier downtrend line and consequently September highs. Though the currency pair is trading off of intraday highs, today's move will likely prove to be an important step for the beginning of a new leg up. Our 3rd tier is the final foreseeable downtrend... |
| EURUSD: Strenghth Still Targeting The 1.4844 Level
October 13, 2009 at 2:38 am
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| | Strength for a retarget of the 1.4844 level remains in force following the pair's rally pushing to a higher close of 1.4788 on Monday. Although seen hesitating in early trading today, we still see risk towards the 1.4844 level with a loss of there resuming its MT uptrend towards the... |
| USDJPY: Shooting Star Candle Halts Recovery
October 13, 2009 at 2:37 am
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| | The pair reversed its intra day gains and closed lower on Monday printing a shooting star candle(top reversal signal). With that seen, a follow through lower now seen is expected to confirm the efficacy of that candle pattern suggesting lower prices towards the 88.00 level where an invalidation will turn... |
| FX Thoughts for the Day
October 13, 2009 at 1:58 am
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| | Aussie has broken and is trading slightly higher above the Resistance region 0.9080-96. As mentioned earlier, if it continues to trade above 0.9100, we might see a rise towards 0.9200-30 over the next few days. Any sharp downmove is not looking likely as the overall sentiment remains bullish. However, a... |
| Technical Analysis Daily: USD/JPY
October 13, 2009 at 12:05 am
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| | Dollar/Yen made a significant bullish movement on Monday. On the 3 hour chart the 90.00 resistance was convincingly broken up, indicating further potential upward correction with possible test of 90.90. Break above this level may lead to strengthening of the US Dollar against the Yen with objectives towards 91.50, followed... |
| Forex Technical Analysis
October 12, 2009 at 11:15 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
October 12, 2009 at 10:44 pm
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| | Since October, the EUR/JPY could recover from its bearish trend and has been started a bullish phase. Recently, the currency pair touched its Pivot Point at 133.18, but the resistance was strong enough so that the prices rebounded and it seems that the EUR will start a bearish trend. Furthermore... |
| Forex and Dow Jones Recommended Levels
October 12, 2009 at 10:39 pm
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| | EUR/USD Today's support: - 1.4714, 1.4670 and 1.4626(main), where correction is possible. Break would give 1.4602, where correction also may be. Then follows 1.4569. Break of the latter would result in 1.4532. If a strong impulse, we would see 1.4490. Continuation will give 1.4476. |
| Technical Analysis Daily: GBP/USD
October 12, 2009 at 10:05 pm
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| | On Monday Pound/Dollar made a significant bearish movement. On the 3 hour chart there is a hedging formation, indicating continuation of the bearish trend. After the consolidation and some insignificant upward correction, the Cable broke the support line at 1.5800, pointing for a descending scenario. Our expectations are for bearish... |
| Euro In Trouble As U.S. Dollar Looking To Recover
October 12, 2009 at 9:51 pm
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| | The U.S. dollar will strengthen against the euro and commodity-backed currencies by less than previously estimated over the next three months, UBS AG said, revising earlier forecasts. The greenback, which has dropped against all 16 of its most-active counterparts this year, will rise to $1.40 against the euro in three... |
| Technical Analysis for Major Currencies
October 12, 2009 at 8:57 pm
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| | The euro versus dollar failed to stabilize above 1.4780, touching 1.4815 which is considered minor resistance levels that had forced the pair to set bearish candlestick formation; where on the chart above we can see that this minor resistance has become vital after the pair set three peaks upon it.... |
| Forex Technical Analytics
October 12, 2009 at 8:45 pm
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| | Short positions opened and preserved before had positive result of overlap of minimal estimated target. OsMA trend indicator having marked the priority of bearish activity development gives grounds to suppose sales priority of planning of trading operations for today. On the assumption of it, as well as of bullish position... |
| FX Technical Analysis
October 12, 2009 at 8:28 pm
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| | EURUSD Comment: Better bid than we had expected as we consolidate above the 9-day moving average. We shall continue to pencil in 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... |
| Daily Technical Outlook
October 12, 2009 at 8:12 pm
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| | Although downside is highly favored and downtrend is quite strong, there are some signs of dollar's recovery which may extend further above the 90.00 mark. As seen on the chart below, a breakout of the falling trend line coming from97.75 is underway - 90.80 being the first upside objective above... |
| Technical Analysis for Crosses
October 12, 2009 at 8:08 pm
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| | The pair is still supported above the key support level over shot term basis of 76.4% Fibonacci at 141.70 while the RSI 14 -currently valued at 27.00- is still in need for a relief. Hence, we keep our overview to the upside to activate the re-testing action for the neckline... |
| Technical Analysis Daily: EUR/USD
October 12, 2009 at 7:07 pm
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| | Euro/Dollar made downward correction on Monday, reaching a bottom at 1.4680, from where it sharply rose up to the 1.4680 top, closing the day at 1.4771. We may see another correction before the currency couple starts climbing again towards next objective 1.4905. On the 1 hour chart quotes jumped from... |
| The Daily Forecaster: GBPJPY
October 12, 2009 at 6:59 pm
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| | Gains were seen as expected on Friday which stalled within the 143.11-43 area. Losses from here appear to be a little too deep to expect a recovery and thus we should be cautious with any bullish stance. There is support in the 140.72-141.04 area and I feel this should provide... |
| Foreign Exchange Market Commentary
October 12, 2009 at 6:16 pm
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| | EUR/USD closed higher due to short covering on Monday as it consolidates some of last week's decline. The mid range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI remain bullish signalling that sideways to higher prices are possible near-term. If it extends... |
| Market Morning Briefing
October 12, 2009 at 6:10 pm
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| | The Euro (1.4780) has risen from yesterdays' low of 1.4677 and is trading higher now, thereby keeping up the overall bullish sentiment intact. Dollar-Yen (89.82) continues to remain bearish. It has fallen after testing the Resistance at 90.50 as expected yesterday. Euro-Yen (132.74) Cross might test the Resistance at 133.50... |
| Daily Technical Analysis
October 12, 2009 at 4:10 pm
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| | The EURUSD had had a bullish momentum yesterday, topped at 1.4812 and closed at 1.4776. Although the nearest term bias should remains bullish, actually my medium term outlook remains neutral as the pair still move below 1.4850 key resistance area. My yesterday's technical strategy worked fine. As you can see... | | |  |
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