| USD/CHF Tests 1.0165 Resistance Level
October 20, 2009 at 7:32 am
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| | After surging above the 100 ema on the 15 minute chart, the USD/CHF has run in to significant resistance from the 1.0165 price level. This level has previously been tested 3 times and has exhibited a healthy amount of support and resistance. Despite the recent surge, the overall trend... |
| Chart Of The Day: EUR/USD
October 20, 2009 at 4:45 am
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| | Price action on EUR/USD, a daily chart of which is shown, has just reached a new 14-month high, and has stalled around yet another resistance level (just under the 1.5000 price region), within the context of a strong continuing uptrend. This uptrend is framed by a clear parallel uptrend channel... |
| USD/JPY Bounces after Retesting 90
October 20, 2009 at 4:38 am
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| | The USD/JPY is bouncing after touching the psychological 90 level and what is now our 2nd tier uptrend line. The USD/JPY has been under selling pressure since topping at our 1st tier downtrend line. The BoJ's minutes revealed the central bank is encouraged by recent performance of the Japanese economy,... |
| GBP/USD Rides Higher Following Impressive Earnings
October 20, 2009 at 4:37 am
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| | The Cable is climbing towards our important 3rd tier downtrend line and the psychological 1.65 level after earnings from U.S. bellweathers surpassed analyst expectations. The combination of impressive earnings and recent positive GBP data has given investors enough incentive to continue the Cable's amazing run. The currency pair is now... |
| EUR/USD Consolidates after Taking another Swing at 1.50
October 20, 2009 at 4:36 am
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| | The EUR/USD has failed to top 1.50 once again and the level is having as much psychological influence as we anticipated. 1.50 separates the EUR/USD from consolidation and exciting near-term gains. The currency pair has toppled the rest of our foreseeable near-term obstacles, leaving 1.50 as the final test for... |
| GBPUSD: Challenges Channel Resistance
October 20, 2009 at 3:45 am
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| | GBP was seen attacking its strong resistance at 1.6431 where its channel resistance is located in early trading today. While that level is now vulnerable, a convincing break of there must be seen to put another key resistance standing at its Sept 23'09 high at 1.6463 under pressure. We envisage... |
| USDJPY: Weakness Puts The 90.44 Level Under Pressure
October 20, 2009 at 3:44 am
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| | A second day of weakness is now in progress and was seen attacking its key support standing at the 90.44 level, its Oct 12'09 high today. If that level gives in we should expect declines towards the 88.82 level where its Oct 14'09 low is located with a break below... |
| U.S. $ Index: Ending Diagonal Pattern
October 20, 2009 at 2:56 am
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| | The U.S. dollar has reached new lows recently against the majors, driven by a higher stock and commodity market, especially oil which has touched the 80.00 area over the past few sessions. Eur/Usd is currently trading very close to the 1.5000 area, from where traders may see some reversal movements,... |
| FX Thoughts for the Day
October 20, 2009 at 2:28 am
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| | Cable continues to test the Resistance zone. Till this Resistance zone of 1.6435-60 holds, it can bring the pair down towards 1.6200 but a break of this Resistance is likely to make Cable very bullish. Else a break is likely to next target 1.66 over the next few days. Earlier,... |
| Technical Analysis Daily: USD/JPY
October 20, 2009 at 12:14 am
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| | On Monday Dollar/Yen made a significant descending movement from. The currency couple decreased from the 91.13 top down to 90.39, closing the day at 90.52. Immediate resistance is yesterday's top at 91.15, the penetration of which may shake again the downward channel and strengthen the Dollar further towards next target... |
| Currency Technical Report
October 20, 2009 at 12:11 am
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| | Euro moved to new tops yesterday after the break of previous tops at 1,4950-70. The pair reached 1.5000 area but sellers made their appearance, leading to a small retracement. The area of 1,5000 is an important resistance and psychological level and is should not be breached easily… |
| Forex Technical Analysis
October 19, 2009 at 11:47 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 19, 2009 at 11:38 pm
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| | Since the beginning of October, the currency pair has been trading in a bullish trend channel. Recently, the AUD crossed its resistance at 84.10. One time before, the resistance was strong enough, but this time it seems as if the AUD could let its resistance behind him and continuing its... |
| Technical Analysis Daily: GBP/USD
October 19, 2009 at 10:04 pm
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| | On Monday Pound/Dollar descended down to the 1.6251 bottom, from where the cable started climbing up to 1.6436, closing the day at 1.6417. This morning ascending continued to the key 1.6445 resistance, which limited the climbing for now, and we see currently deep correctional bounce. If the above resistance is... |
| Technical Analysis for Major Currencies
October 19, 2009 at 10:01 pm
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| | The Euro versus Dollar pair inclined yesterday to breach the pivot resistance at 1.4970 supporting the expected uptrend. The Stochastic indicator is providing bearish signs, which may pressure the pair to decline. Yet, we expect a general incline on the intraday basis targeting 1.5100 as far as 1.4845 is intact. |
| Technical Analysis for Crosses
October 19, 2009 at 9:58 pm
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| | As we discussed yesterday, the Fibonacci level of 261.8% proved its strength, claiming that the allover bearish harmonic AB=CD pattern is in progress. The candlesticks bearish formation alongside the bearish signs that are appearing on OsMA, RSI 14 and AROON helps us keep our intraday overview to the downside. A... |
| Greenback Inactivity Helps Euro Rise In Style
October 19, 2009 at 9:42 pm
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| | The euro climbed toward $1.50 on optimism the global economic recovery is gathering momentum. The euro rallied to the strongest level since August 2008 against the dollar before reports this week that economists said will show the U.S. housing market and German business confidence improved, boosting demand higher-yielding assets. |
| Forex Technical Update
October 19, 2009 at 9:29 pm
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| | Euro maintains bullish bias after the dollar bearish statement from Fed . It is facing stiff resistance at 1.50 levels which would act as a stiff resistance in the days to come.(EurUsd-1.4972)Slight Bullish |
| Forex Technical Analytics
October 19, 2009 at 9:14 pm
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| | Short positions opened and saved before had positive result in the achievement of main estimated targets. OsMA trend indicator having marked in the general outlook bearish development priority is still supporting sales planning priority for today. On the assumption of it as well as considering sign of rate oversold we... |
| Currency Pair Daily Forecasts
October 19, 2009 at 8:57 pm
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| | EUR/USD-market strategy can be a buy from the level 1.4905$ To strengthen our analysis; we use many other indicators, starting with MACD (Moving Averages convergence divergence); we notice the MACD lines in a bullish direction and crossing above the zero line. In order to find the power of the market,... |
| FX Technical Analysis
October 19, 2009 at 8:39 pm
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| | EURUSD Comment: Rallying to a new high for this year at 1.4994 even sooner than we had hoped after closing at this year's high yesterday. The Euro is only slightly overbought and the 9-day moving average gave it another leg up yesterday. While most elements suggest a break above the... |
| Daily Technical Outlook
October 19, 2009 at 7:42 pm
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| | The euro rose to a fresh high at 1.4993 - a few points below the 1.5 barrier. Current pullback is modest and a re-test of the 1.5000 within the coming sessions is likely. If dollar's weakness will extend past 1.5000, next upside barriers will come into play at 1.5050/70 and... |
| Technical Analysis Daily: EUR/USD
October 19, 2009 at 7:30 pm
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| | On Monday Euro/Dollar descended to the 1.4836, from where started rising up to 1.4979, closing the day at 1.4963. Of the 1 hour chart the currency couple has climbed from 1.4514 to 1.4989, forming clear upward channel. But while long range outlook seems to be under the bulls control, in... |
| Foreign Exchange Market Commentary
October 19, 2009 at 7:09 pm
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| | EUR/USD closed higher on Monday due to short covering. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are bullish signalling that sideways to higher prices are possible near-term. If it extends this today's rally, the reaction high crossing is the... |
| The Daily Forecaster: USDCHF
October 19, 2009 at 6:19 pm
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| | The underlying MT direction is neutral while the daily bias is bearish. Caution is advised but there is a mild preference for losses within a consolidation. However, be aware of the risk of choppy price action that could hit stops. Therefore take note of both daily & MT S&R and... |
| Market Morning Briefing
October 19, 2009 at 5:35 pm
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| | Another field day for the non-Dollar currencies as Dollar-revulsion continues to rule. The Aussie (0.9290) and the Euro (1.4980) are trading at their highest levels in the last 12 months and have room to rise further. Dollar-Swiss (1.0104) too is likely to inch closer to 'Parity' with the Dollar in... |
| Daily Technical Analysis
October 19, 2009 at 5:24 pm
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| | The EURUSD slipped above the range are of 1.4850 - 1.4950 yesterday, topped at 1.4980. The bias is bullish in nearest term targeting 1.5080 and 1.5140 but we need a consistent move above 1.4950 to confirm the bullish scenario. Like I said yesterday, the market has been quite volatile lately... | | | 
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