| Aussie and Gold Review
October 16, 2009 at 10:13 am
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| | The yearly charts of gold and aussie movements are highly correlated, and as the week unwinds the market looks set to make a test on both asset classes. If there is not enough time this week to follow through, it sets up a perfect play for Monday trade, especially with... |
| USD/JPY Buckles Following Solid Run
October 16, 2009 at 6:13 am
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| | The USD/JPY is experiencing profit taking today after flying with U.S. equities and the Cable yesterday. The USD/JPY ignored the theme of a weaker Dollar, and instead opted to participate in the risk trade. Thursday's combination of positive Q3 earnings and a drop in weekly U.S. Unemployment Claims gave investors... |
| GBP/USD Consolidates after Impressive Breakout
October 16, 2009 at 6:12 am
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| | The Cable pulled a rally out of left field yesterday and exploded for nearly 400 basis points since our previous commentary. The psychological 1.60 level ended up having a marginal impact and has been left in the dust. Once the Cable got above our previous 3rd tier uptrend line, now... |
| EUR/USD Forms Double Top Below 1.50
October 16, 2009 at 6:10 am
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| | The EUR/USD's upswing continued yesterday, yet hit a will just beneath the highly psychological 1.50 level as anticipated. The EUR/USD failed to fully participate in the equity rally and has formed a double top with a pop in volume on a 4 hour down-bar. We notice similar weakness in gold... |
| EURUSD: Turns Lower Ahead Of The 1.5000 Level
October 16, 2009 at 5:37 am
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| | Although EUR recovered from its intra day losses to close higher at 1.4953 on Thursday, that gain was seen being reversed in Friday trading session increasing risk of further corrective pullbacks. Immediate downside targets is sited at the 1.4843/42 level, its Sept 23'09 high/Oct 15'09 low. That level should fence... |
| AUD/USD Still Strong
October 16, 2009 at 3:36 am
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| | Despite gaining well over 50% from it previous low of .6007 the Aussie still looks very attractive to many forex traders. Despite the large climb that the pair has already seen, there is a strong likelihood that the pair will continue to increase. Using Fibonacci retracement levels you can see... |
| GBPUSD: Maintains Corrective Upside Momentum
October 16, 2009 at 1:54 am
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| | The pair continues to build on its recovery activated at the 1.5706 level breaking decisively through the 1.6124 level(Sept 30'09 high) on Thursday to close higher at 1.6338. It was seen hesitating in early trading today and its next target stands at its ST declining trendline initiated at the 1.7041... |
| USDJPY: Building On Recovery Strength
October 16, 2009 at 1:53 am
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| | A higher weekly close is now underway as USDJPY continues to head higher building on its recovery triggered off the 88.00 level. While the pair remains trapped within its declining channel and biased to the downside in the short term, it faces immediate upside risk nearer term as correction continues... |
| Currency Technical Report
October 16, 2009 at 1:07 am
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| | Euro's rise was limited below 1,5000 area, confirming our scenario regarding the strong resistance levels of 1,4950-70. Even though the upward move was not strong enough to confirm the resumption of the move to higher levels, retracements remain weak and buyers still dominate. Crude oil has breached its wider sideways... |
| Technical Analysis Daily: USD/JPY
October 16, 2009 at 12:07 am
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| | On Thursday Dollar/Yen made a significant ascending movement. On the 3 hour chart the downward channel was broken upwards and quotes now move above 90.60. Our preferable scenario for now is bullish with objective towards 91.50, followed by 92.50. Key support is represented by the 90.50 level. Break under it... |
| Forex Technical Analysis
October 15, 2009 at 10:59 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 15, 2009 at 10:44 pm
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| | Since the middle of September, the EUR has been trading in a bullish trend against the CHF. During the last four days, the currency pair has started a downward movement but at its support line according its Pivot point, it recovered and the prices climbed again. Furthermore, a crossing MACD... |
| Technical Analysis Daily: GBP/USD
October 15, 2009 at 10:20 pm
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| | Yesterday Pound/Dollar made a significant upward movement. The cable climbed from 1.5993 with nearly 300 pips, closing the day at 1.6267. This morning ascending continued to the key 1.6400 resistance, which limited the climbing for now, and we see currently deep correctional bounce. If the above resistance is convincingly broken... |
| Will Japanese Yen Continue To Drop?
October 15, 2009 at 9:59 pm
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| | The yen headed for a second weekly loss versus the euro as optimism the global economic recovery is strengthening spurred demand for higher-yielding assets. The yen weakened against 14 of its 16 major counterparts before a report forecast to show U.S. industrial output improved for a third month. The yen... |
| Technical Analysis for Crosses
October 15, 2009 at 9:11 pm
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| | The pair rushed strongly to the upside yesterday reaching the major resistance level for the minor ascending channel which is constructing the short term upside wave for the pair at 136.00. Momentum indicators are overbought which makes us expect a downside correction targeting 134.45 -23.6% correction- before resuming the upside... |
| Forex Technical Analytics
October 15, 2009 at 9:01 pm
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| | The estimated test of key resistance range levels has been confirmed but relative bullish activity rise, marked by OsMA trend indicator did not incline to the implementation of pre-planned short positions. At the moment considering relative bullish activity rise as a sign of rate rise period incompleteness but without confirmative... |
| FX Technical Analysis
October 15, 2009 at 8:55 pm
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| | EURUSD Comment: Even half-baked stockbrokers are becoming aware of the US dollar's weakness, and the Treasury's Geithner links the currency's strength to times of fear and crisis. The Euro is slightly overbought so perhaps its time to take a breather today. A weekly close above 1.4800 would confirm that the... |
| Technical Analysis for Major Currencies
October 15, 2009 at 8:44 pm
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| | The euro versus dollar was able to build a base on yesterday's correction level at 1.4890, where it faced a strong resistance again around 1.4960 to cause the beginning of a bearish intraday correction that we think might pressure the pair for today. From here we expect a bearish intraday... |
| Foreign Exchange Market Commentary
October 15, 2009 at 8:37 pm
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| | EUR/USD closed higher on Thursday as it extends last week's rally. The high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI remain bullish signalling that sideways to higher prices are possible near- term. If it extends this week's rally, the 87% retracement... |
| Daily Technical Outlook
October 15, 2009 at 8:11 pm
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| | Intra-day sentiment is slightly bearish after the 2nd failed attempt to reach 1.5000. Yesterday's relatively fast recovery from 1.4840, which is also the 61.8% retracement ratio of 1.4760-1.4965, suggests that uptrend is very strong and pullbacks are grabbing bids from below 1.4900, for a potential break out above 1.5000 on... |
| Technical Analysis Daily: EUR/USD
October 15, 2009 at 7:12 pm
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| | On Thursday Euro/Dollar made a deep correctional movement, reaching a bottom at 1.4855, and closing the day at 1.4944. The 1.4966 level is a key resistance zone, the break up of which will determine whether to expect further bullish impulse towards 1.5080, followed by 1.5200. Unconvincing overtake of the level... |
| The Daily Forecaster: EURUSD
October 15, 2009 at 7:03 pm
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| | The fact this didn't reach 1.5006 before the correction was annoying but I have noted an alternate projection that identifies 1.4967 as an intermediate target. However, what is confusing is the pullback at 1.4842 is too deep for the final projection higher to reach the ideal 1.5119-35 target. If we... |
| Forex and Dow Jones Recommended Levels
October 15, 2009 at 5:39 pm
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| | EUR/USD Today's support: - 1.4888 and 1.4850(main), where correction is possible. Break would give 1.4833, where correction also may be. Then follows 1.4820. Break of the latter would result in 1.4802. If a strong impulse, we would see 1.4779. Continuation will give 1.4753. |
| Market Morning Briefing
October 15, 2009 at 5:35 pm
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| | The Euro (1.4943) and Aussie (0.9247) are continuing to remain strong and are keeping up their uptrend intact. Dollar-Yen has risen sharply and if the current strength on its upmove continues, a break above 91 might see 92 on the upside today. |
| FX Technical Commentary
October 15, 2009 at 5:12 pm
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| | Euro 1.4950 Initial support at 1.4839 (Oct 14 low) followed by 1.4674 (Oct 9 low). Initial resistance is now located at 1.4980 (Aug 13 2008 high) followed by 1.500 (Psych Level) |
| Daily Technical Analysis
October 15, 2009 at 3:52 pm
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| | The EURUSD had a volatile but indecisive market yesterday, formed a Doji on daily chart. On h4 chart below we can see that the pair is trapped between my two important levels, 1.4850 – 1.4950 area. However, for me it's clear that the bullish remains in control as price quickly... | | | 
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