| Chart Of The Day: USD/JPY
October 1, 2009 at 5:33 am
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| | Price action on USD/JPY, a daily chart of which is shown, continues in its bearishness despite having earlier in the week bounced up off a new 8-month low around 88.20 with a clear hammer candle. This hammer candle descended all the way down to the bottom border of a rough... |
| $ Index, Major Bottom Getting Close (Not Quite There)....
October 1, 2009 at 5:11 am
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| | The long held, longer term bearish view in the $ index remains in place. But risk is rising rapidly for at least 3-4 months of correcting higher and minimum 5-6 point bounce (and potentially much more), as the market is within the final downleg in the whole fall from the... |
| Aussie and U.S. Dollars Go Head-To-Head
October 1, 2009 at 4:54 am
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| | On the aussie four hour chart we are still expecting some up-side pressure, as prices did not reach our Fibonacci resistance area, yet. As such, traders with a short bias should still be very careful here, as there is still enough room for move into the 0.8900-0.9000 resistance area. In... |
| FX Thoughts for the Day
October 1, 2009 at 2:25 am
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| | Aussie traded between 0.8774-0.8732 during the day, with lack of strength on either side of move. As mentioned earlier Support is seen in the region 0.8750-30 which we expect to hold in the US session as the over all picture continues to remain bullish. Also note that the projected Max-low... |
| EURUSD: Gives Back Upside Gains
October 1, 2009 at 12:17 am
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| | EUR continues to face downside pressure nearer term following a reversal of its Wednesday gains in early trading today. This now leaves the pair vulnerable to the downside targeting its Sept 29/14'09 lows at 1.4525/14 where a decisive violation will drive the pair further lower towards the 1.4446 level, its... |
| GBPUSD: Prints Higher Rejection Candle
October 1, 2009 at 12:15 am
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| | An intra day loss of momentum at the 1.6124 level pushed the pair to a marginal close printing a rejection at the end of the session on Wednesday. This price development now leaves the pair vulnerable to the downside with the next target standing at the 1.5768 level, its Sept... |
| Technical Analysis Daily: USD/JPY
October 1, 2009 at 12:06 am
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| | On Wednesday Dollar/Yen made a moderate decreasing momentum, reaching a bottom at 89.37, where the bearish impulse was limited, and the currency couple started rising, closing the day at 89.68. On the 3 hour chart the upward triangular formation provides a potential threat to the bearish outlook. However, it is... |
| Currency Technical Report
September 30, 2009 at 11:17 pm
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| | The upward reaction from 1,4520 important support, was continued as expected, an euro reached first resistance levels at 1,4670-80. The corrective move from 1.4527 lows is likely to be completed, but in case it is resumed, our target will be at 1,4430-60, which is the higher range in terms... |
| Forex Technical Analysis
September 30, 2009 at 10:57 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
September 30, 2009 at 10:32 pm
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| | Since the middle of September, the AUD/JPY has been trading in a bearish trend. For a few days, the AUD recovered and started an upward trend channel. Now, the currency pair approaches to its resistance at 79.90. Many times before, when the AUD reached the resistance, the prices rebounded. Also... |
| Technical Analysis Daily: GBP/USD
September 30, 2009 at 10:04 pm
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| | On Wednesday Pound/Dollar corrected upwards, reaching a peak at 1.6118, as expected in our forecast, closing the day at 1.5982. On the 1 hour chart the Cable rose up to the 1.6100 psychological level. Convincing break above that level may potentially threaten the current bearish outlook, and strengthen the Pound... |
| Forex Technical Update
September 30, 2009 at 9:35 pm
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| | EUR/USD is having a strong trendline and a 55 EMA support in weekly chart near 1.4450 levels. Only and Only a decisive break of this trendline support level indicates a medium term bearishness in EUR/USD. Initiate Buying at this level keeping the stop loss below 1.4350 levels on Daily closing... |
| Foreign Exchange Market Commentary
September 30, 2009 at 9:30 pm
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| | EUR/USD closed higher on Wednesday as it consolidated yesterday's decline. The high-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI are overbought but remain bullish signalling that sideways to higher prices are possible near-term. If it extends this month's rally, the 38%... |
| Forex Technical Analytics
September 30, 2009 at 9:24 pm
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| | The pre-planned long positions from key supports were implemented with the achievement of main estimated targets. OsMA trend indicator having marked close activity parity of both parties considering the chosen strategy does not clarify the choice of planning priorities for today. That is why considering rate position above Ichimoku cloud... |
| FX Technical Analysis
September 30, 2009 at 8:40 pm
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| | EURUSD Comment: Consolidating neatly in a little 'channel', capped by the 9-day moving average. Today allow for a re-test of the short term 50% Fibonacci retracement and 26-day moving average at 1.4500. Momentum is zero and the Euro is a long way from being overbought. |
| Technical Analysis for Crosses
September 30, 2009 at 8:20 pm
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| | GBP/JPY pair is slowly forming a four-hour reversal candlestick pattern as seen on the secondary four-hour chart, while the bigger picture of the daily timescale is negatively pressuring the pair according to our previous explained Elliott sequence. Therefore we keep our overview to the downside on the intraday basis. Note... |
| Technical Analysis for Major Currencies
September 30, 2009 at 8:08 pm
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| | The Euro's incline slowed down yesterday, as it maintained trading near the 100 MA at 1.4600, which increases the possibility for further declines once again making us hold onto our outlook to the downside on the intraday basis targeting 1.4390 for today. The decline remains as far as 1.4720 is... |
| Technical Analysis Daily: EUR/USD
September 30, 2009 at 7:40 pm
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| | On Wednesday Euro/Dollar made an increasing movement up to 1.4670, from which point the currency couple bounced downwards, closing the day at 1.4636. If trading goes under 1.4535, the European currency may fall further down with possible test of 1.4465. On the 1 hour chart there is a still valid... |
| The Daily Forecaster: AUDJPY
September 30, 2009 at 6:45 pm
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| | While not on my list of targets the bearish divergences are pretty deep and we may well have seen the high at 79.54. However, the key support at 79.10 has so far held so we must be open to minor extensions higher. Above 79.54 sees resistance quickly at 79.68-74. Take... |
| Market Morning Briefing
September 30, 2009 at 5:36 pm
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| | Currencies like the Euro (1.4635) and the Aussie (0.8825) retain their overall strength and are consolidating. The overall environment is still positive although the Aussie could see some profit-taking here. Dollar-Yen (89.85) is also consolidating between 89.50-90.20 within an overall downtrend. The Euro-Yen Cross (131.50) too may remain consolidative between... |
| FX Technical Commentary
September 30, 2009 at 5:28 pm
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| | Euro 1.4635 Initial support at 1.4527 (Sept 29 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) |
| Daily Technical Analysis
September 30, 2009 at 4:13 pm
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| | The EURUSD had a moderate bullish momentum yesterday. The pair attempted to push higher, topped at 1.4672 but further upside momentum was limited as the pair closed a little bit lower at 1.4636. On h4 chart below we can see that the bearish channel has been violated to the upside... | | | 
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