| Daily Technical Analysis
October 21, 2009 at 4:35 pm
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| | The EURUSD continued it's bullish momentum yesterday, topped at 1.5045 and closed at 1.5007. The bullish power succeed to pass the test and move above critical area 1.4850 - 1.4950. I think we are now entering a new phase of a bullish scenario with 1.6000 area as potential long term... |
| Usd/Cad Support at 1.0300
October 21, 2009 at 6:55 am
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| | Cad has made a small turning point recently at the 1.0300 support zone, as expected. The bear market may already be completed, but traders with a long bias still need to be very patient so long as the market trades below the upper resistance line of a daily channel. Until... |
| EUR/USD Continues Trading in Ascending Channel
October 21, 2009 at 6:37 am
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| | After a short period of consolidation, the EUR/USD looks to continue trending higher and continues to trade within a tight upward channel. The pair has reacted rather nicely to both trendlines in the channel and offers several trade opportunities to forex traders. On the long side entering in to a... |
| Chart Of The Day: GBP/USD
October 21, 2009 at 5:01 am
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| | Price action on GBP/USD, a daily chart of which is shown, has just made a clean breakout above a long-term downtrend resistance line extending from the July 2008 high. This breakout is a significant first step in possibly breaking out of the prolonged consolidation that has characterized this currency pair... |
| EURGBP : Loss Of The 0.9076 Level Highlights The 0.8983 Level
October 21, 2009 at 3:38 am
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| | With a decisive break of the cross's strong support residing at its Sept 30'09 low at 0.9076, risk of further declines towards the 0.8983 level, its Sept 23'09 low is now seen. This view is consistent with EURGBP's weakness triggered off the 0.9410 level and if a break of the... |
| GBPUSD: Violates The 1.6421/66 Levels, Eyes Further Upside
October 21, 2009 at 3:37 am
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| | After an attack on the 1.6421 level, its channel resistance failed on Tuesday putting GBP on a negative close, it was seen breaking 1.6421/66 levels in early trading today. While holding on to those gains, GBP has potential to target further higher prices towards the 1.6740 level, its Sept 11'09... |
| FX Thoughts for the Day
October 21, 2009 at 2:23 am
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| | Cable rose during the day as the Resistance at 1.6450 sighted earlier broke. This makes the pair bullish for a further rise over the next few days towards 1.6825. There's slight Resistance at 1.6638 which may be tested during the day. Possibly, there ought not be any looking back and... |
| Technical Analysis Daily: USD/JPY
October 21, 2009 at 12:11 am
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| | Dollar/Yen traded consolidated down to 90.08 on Tuesday, from where sharply rose with around 100 pips, closing the day at 90.69. On the 3 hour chart, after breaking up the bearish channel, the currency pair is now moving in the newly formed secondary bullish channel, with quotes currency heading towards... |
| Forex Technical Analysis
October 20, 2009 at 11:04 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 20, 2009 at 10:46 pm
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| | Since the beginning of October, the CAD has been trading in a bullish trend against the JPY. Recently, the currency pair traded in an upward movement and touched its Pivot point. For the moment, the support was strong enough and it seems that the CAD is ready for a pull... |
| Technical Analysis Daily: GBP/USD
October 20, 2009 at 10:02 pm
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| | Pound/Dollar continued its bullish movement on Tuesday, reaching a peak at 1.6480, closing the day at 1.6378. On the 3 hour chart quotes broke up the upper limit of the bearish channel at 1.6500, which is the last resistance of the downward scenario. Our preferable short term scenario is bullish... |
| Forex Technical Analytics
October 20, 2009 at 9:24 pm
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| | The estimated test of key resistance range levels has been confirmed on conditions for the implementation of pre-planned short positions. OsMA trend indicator having marked in the general outlook the preservation of bearish development priority gives also grounds for the preservation of opened sales with the targets of 1,0080/1,0100 and... |
| Forex Technical Update
October 20, 2009 at 9:06 pm
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| | EURO attempted to push higher, topped at 1.4993 but whipsawed to the downside, bottomed at 1.4881 and closed at 1.4936. It could be false break incase 1.4850 area breaks today. Any movement below 1.4780 (21 days EMA ) could trigger further significant bearish correction towards 1.4561 levels. Short positions could... |
| FX Technical Analysis
October 20, 2009 at 9:01 pm
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| | EURUSD Comment: Hovering under this year's high at 1.4994 and we shall watch closely to see whether the 9-day moving average will once again limit the downside. Small signs of instability, here and in several other currencies, so today may not be the day latecomers arrive at the party. Note... |
| Technical Analysis for Major Currencies
October 20, 2009 at 8:38 pm
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| | The resistance level at 1.4990 halted further inclines yesterday for the Euro versus Dollar pair, which resulted in a downside correction to reach the 61.8% correction. This correction hit the key support for the bullish channel that the pair has been trading within, where we see positive signs on the... |
| Technical Analysis for Crosses
October 20, 2009 at 8:34 pm
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| | The negative divergence that's appearing on RSI 14 probably will assist the pair to activate the bearish harmonic AB=CD scenario as we discussed several times before. We can't neglect that if the GBP/JPY pair couldn't maintain levels above the key resistance of 149.35 then a double top formation may be... |
| Daily Technical Outlook
October 20, 2009 at 7:40 pm
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| | The euro holds gains above the 1.4900 mark despite the downside pressure emerging since yesterday. The upward channel formed on the 4-hrs charts (as seen below) is intact and has provided yet another level to initiate long positions with objectives into the 1.5 region. Intra-day sentiment is slightly bearish but... |
| Currency Pair Daily Forecasts
October 20, 2009 at 7:34 pm
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| | EUR/USD-market strategy can be a buy from the level 1.4908$ 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 below the zero line. In order to find the power of the market,... |
| Technical Analysis Daily: EUR/USD
October 20, 2009 at 7:15 pm
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| | On Monday Euro/Dollar corrected down to the 1.4887 level, where the correctional movement was limited, closing the day at 1.4941. Expectation are bullish in the medium term, but we need to see convincing break above yesterday's top and first resistance 1.4995 to confirm that. Market is volatile and seems to... |
| The Daily Forecaster: GBPUSD
October 20, 2009 at 7:08 pm
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| | While we saw gains yesterday these stalled at the high end of the 1.6460-89 resistance and caused a pullback. It leaves things a little uncertain. Overall I still prefer to see one more rally but feel we do need to exercise caution. A break above 1.6391-04 will assist and extend... |
| Foreign Exchange Market Commentary
October 20, 2009 at 6:09 pm
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| | EUR/USD closed lower on Tuesday as the dollar advanced from a 14-month low. The low-range close sets the stage for a steady opening on Monday. Stochastics and the RSI are overbought but remain neutral to bullish signalling that sideways to higher prices are possible near-term. If it extends this week's... |
| Market Morning Briefing
October 20, 2009 at 6:02 pm
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| | The Euro (1.4916) has come off after testing the Resistance at 1.50 and has fallen to 1.4882. Dollar-Yen (90.68) rose to 91.07 after falling below 90.10 yesterday. The Euro-Yen Cross (135.27) has however been consolidating between 135.00 and 135.75 over the last few days. |
| Daily Technical Analysis
October 20, 2009 at 4:39 pm
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| | The EURUSD made another correction yesterday. The pair attempted to push higher, topped at 1.4993 but whipsawed to the downside, bottomed at 1.4881 and closed at 1.4936. On h4 chart below we can see that this was a case of a false breakout, which potentially produce significant downside correction. 1.4850... |
| FX Technical Commentary
October 20, 2009 at 3:49 pm
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| | Euro 1.4940 Initial support at 1.4829 (Oct 19 low) followed by 1.4762 (Oct 13 low). Initial resistance is now located at 1.5000 (Psychological Round Number) followed by 1.5083 (Psychological Level) | | | 
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