| Daily Technical Analysis
October 14, 2009 at 4:09 pm
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| | The EURUSD continue it's bullish momentum yesterday, topped at 1.4946 and closed at 1.4933. On my daily chart below we can easily see that 1.4950 area is a very important resistance level, my final technical resistance to be tested before aim for 1.5300 even 1.6000 area. |
| EURGBP : Collapses On Shooting Star Formation
October 14, 2009 at 8:25 am
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| | Having printed its highest price since Mar 27'09 early Tuesday, EURGBP backed off that level and traded lower to close at 0.9315 forming a shooting star candle (top reversal signal) on Tuesday. Although seen turning off its intra day low today, the mentioned candle formation is ominous of a halt... |
| USD/JPY Stagnant Following Uneventful BoJ Meeting
October 14, 2009 at 5:53 am
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| | The BoJ's first monetary policy decision under the DPJ came and went with little reaction. The BoJ kept quiet concerning its QE plans, and appears to have learnt its lesson from the psychological impact of recent comments. In fact, the BoJ kept its monetary policy unchanged and didn't mention anything... |
| GBP/USD's Rally Tops Out after Eclipsing 1.60
October 14, 2009 at 5:52 am
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| | The Cable's rally has finally topped out after the currency pair breached the highly psychological 1.60 level. Yesterday's pop on oversold conditions was extended today after Britain's CCC data printed a surprising decline. The improvement in unemployment led investors back to the Pound and the Sterling also logged solid gains... |
| EUR/USD Continues its Climb Towards 1.45
October 14, 2009 at 5:51 am
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| | The EUR/USD has continued to climb beyond our 3rd tier downtrend line as we anticipated. As we mentioned in yesterday's analysis, we view the movement past our 3rd tier and September highs as a key development in regards to a new leg up for the currency pair. The EUR/USD is... |
| FX Thoughts for the Day
October 14, 2009 at 2:19 am
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| | Cable has risen and faced Resistance in the region mentioned in the morning at 1.6020-65. Since it continues to test this Resistance and if successful in breaching past, this brief surge may be restricted to 1.6150 before it resumes its downtrend once again. However, the medium term picture is still... |
| Cable Daily Wave Count: Correction or Impulse
October 14, 2009 at 1:14 am
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| | Cable broke through the 1.6111 low over the past weeks, which means that wave C) or a much lower wave III) is in progress. Recent prices have reached our target at the 38.2% Fibonacci retracement area, where the bounce from the wave IV lows on the long side may happen. |
| Technical Analysis Daily: USD/JPY
October 14, 2009 at 12:11 am
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| | On Tuesday the upward adjustment of the Dollar/Yen stopped. The currency couple tried to rise, reaching a peak at 90.14, closing the day at 89.67. Immediate support is this morning's bottom at 88.85 level. The longer the Dollar is trading above this zone against the Yen, the opportunity for further... |
| Daily FX Report
October 13, 2009 at 11:39 pm
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| | Since the middle of September, the GBP has been trading in a bearish trend against the CHF. During this time, the currency pair could always recover when it touched the bottom Bollinger Band and climbed up to the middle or even up to the upper Bollinger Band. Recently, the GBP... |
| Currency Technical Report
October 13, 2009 at 11:33 pm
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| | Dollar is still under pressure, and as a result euro is moving to new tops, close to 1,4900 area, confirming our basic scenario. Next target should be at 1,5100 area or higher. After yesterday's tops, important resistance levels have been reached for the short term, as you can see in... |
| EURUSD: Strenghth Still Targeting The 1.4844 Level
October 13, 2009 at 11:22 pm
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| | EURUSD: 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... |
| USDJPY: Shooting Star Candle Halts Recovery
October 13, 2009 at 11:21 pm
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| | USDJPY- 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... |
| Forex Technical Analysis
October 13, 2009 at 11:18 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. |
| Technical Analysis Daily: GBP/USD
October 13, 2009 at 10:02 pm
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| | Pound/Dollar traded quieter on Tuesday. After reaching a peak at 1.5822, the Cable made a decreasing attempt, reaching a bottom at 1.5717, than rose sharply to 1.5940, closing the day at 1.5922. On the 1 hour chart the break of the important support 1.5717 was not convincing. Consistent trading under... |
| Forex Technical Update
October 13, 2009 at 9:43 pm
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| | EURO failed to break the support of 1.4680 levels and regained fresh momentum from the 21 day EMA support. 1.48 levels remains the key support level for today we would watch any reaction around that area before being bullish again. Consistent movement below that area could be a potential threat... |
| Forex Technical Analytics
October 13, 2009 at 9:09 pm
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| | The estimated test of key resistance range levels has not exactly been confirmed but the estimated rate fall marked sign of rate oversold, and this reduces probability of strong rate fall. Therefore, at the moment, considering the chosen strategy, we can assume probability of rate range movement period with the... |
| FX Technical Analysis
October 13, 2009 at 8:53 pm
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| | EURUSD Comment: Just one of many currencies hitting a new high for the year against the Euro. Yesterday's close above 1.4800 suggests we have started the next leg of a long term rally; a weekly close above here would confirm. Bullish momentum is good though the Euro is overbought -... |
| Technical Analysis for Major Currencies
October 13, 2009 at 8:33 pm
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| | The euro versus dollar rushed strongly to the upside, breaching the minor resistance levels at 1.4810; nearing the resistance level for the minor ascending channel at 1.4950, which structured the short term bullish wave towards its main target 1.5040. The moving average protects the upside direction strongly, while noticing momentum... |
| Technical Analysis for Crosses
October 13, 2009 at 8:30 pm
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| | After the bullish move that took the GBP/JPY pair to place a temporary high at 143.10, the pair is facing the bearish trend line as seen on the provided daily chart, which may be able to force it to correct mildly towards the key support line of 140.30 before resuming... |
| Daily Technical Outlook
October 13, 2009 at 8:25 pm
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| | After reaching a fresh high at 1.4875 on yesterday, the euro pulled back but has found buyers on the dip to 1.4805/10. Therefore, upside is under pressure now as the euro trades comfortably into the higher half of the 1.48 region. Intra-day support is formed by 1.4800/10 backed by an... |
| Foreign Exchange Market Commentary
October 13, 2009 at 7:34 pm
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| | EUR/USD closed higher due to short covering on Tuesday as it consolidated some of Monday's decline. The high-range close sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI are bearish signalling that sideways to lower prices are possible near-term. If it extends the decline... |
| Technical Analysis Daily: EUR/USD
October 13, 2009 at 7:22 pm
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| | On Tuesday Euro/Dollar continued the upward trend as expected up to 1.4870. On the 3 hour chart the currency pair tried to reach higher bed, climbing above the 1.4815 resistance level. The upward impulse was limited at 1.4871, closing the day at 1.4852. Our expectations are for rising European currency... |
| Forex and Dow Jones Recommended Levels
October 13, 2009 at 7:15 pm
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| | EUR/USD Today's support: - 1.4833 and 1.4802(main), where correction is possible. Break would give 1.4779, where correction also may be. Then follows 1.4753. Break of the latter would result in 1.4730. If a strong impulse, we would see 1.4714. Continuation will give 1.4670 and 1.4626. |
| The Daily Forecaster: USDCAD
October 13, 2009 at 6:03 pm
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| | Yesterday's pullback was very weak and I still feel the downside is going to extend further with the 1.0160-98 area being where we should be looking for a short term bounce for a correction. Only an earlier break back above 1.0324 would resurrect any chance of seeing a deeper correction... |
| Market Morning Briefing
October 13, 2009 at 5:59 pm
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| | Dollar-revulsion seems to be getting more acute with Gold rising above 1060. The non-Dollar currencies remain stronger and are getting stronger still. The Euro (1.4880) is likely to test 1.4930, where it faces a short-term Resistance. The Aussie (0.9108) is the world's favourite currency at the moment and looks set... |
| Daily Technical Analysis
October 13, 2009 at 4:25 pm
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| | The EURUSD continue it's bullish momentum yesterday, topped at 1.4874 and closed at 1.4851. As you might already know, 1.4850 - 1.4950 area is a very important area for me since I believe any reactions around that area determine whether we will continue the bullish at least towards 1.5300 even... |
| FX Technical Commentary
October 13, 2009 at 3:35 pm
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| | Euro 1.4845 Initial support at 1.4646 (Oct 6 low) followed by 1.4481 (Oct 2 low). Initial resistance is now located at 1.4908 (Aug 22 high) followed by 1.4980 (August 13 '08 high) | | |  |
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