| Aud/Usd Ending Diagonal
October 22, 2009 at 9:56 am
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| | On the Aussie four hour chart the market showed an ending diagonal pattern, after the recent top in wave v) at 0.9326. The ending diagonal may now be complete, but is still not confirmed, which will happen once the 0.9112 support is taken out. On the RSI indicator traders may... |
| EURJPY: Targeting Its Triangle Pattern Top
October 22, 2009 at 8:19 am
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| | As indicated in our special focus analysis last week of the pair's bias to head higher and target its symmetrical triangle resistance, its break higher through its minor resistance at 136.06 level on Wednesday has buttressed that view. With a follow through higher today occurring as at the time of... |
| USD/JPY Charges Higher Following Disappointing Trade Balance
October 22, 2009 at 5:01 am
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| | The USD/JPY is popping after Japan's Trade Balance came in much lower than analyst expectations coupled with a downward revision of the previous release. Analysts are eager to point out that Japan's exports declined at a slower rate. However, the Trade Balance still took a hit, telling us the improvement... |
| EUR/USD Battles with 1.50
October 22, 2009 at 4:29 am
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| | The EUR/USD is back wrestling with the highly psychological 1.50 level after breaking through the barrier yesterday. We view yesterday's movement as an important technical development since we previously explained how 1.50 represents our final topside barrier before 1.55. Hence, we could be on the brink of another near-term breakout... |
| GBP/USD Dips Following Topside Breakthrough
October 22, 2009 at 4:28 am
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| | The Cable is dipping after breaking through our previous 3rd and 4th tier downtrend lines and the psychological 1.65 level. We mentioned before how a failure of both our 3rd and 4th tiers signals a probable retest of September highs and possibly the highly psychological 1.70 level. The Pound continues... |
| GBPUSD- Holds Above The 1.6421/66 Levels
October 22, 2009 at 4:25 am
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| | Although GBP's successful break and hold above the 1.6421/66 levels is now being met with weakness in early trading today, as long as those levels are not violated the pair remains biased to the upside nearer term. That leaves its Oct 21'09 high at 1.6635 as its immediate resistance with... |
| EURUSD: Still Pressured To The Upside
October 22, 2009 at 4:24 am
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| | Although EUR broke and closed above the 1.5000 level on Wednesday after testing its highest price since Aug'08, price action today saw the pair taking back part of those gains. With the significance of that level, a close above there on a weekly closing basis will be required to target... |
| FX Thoughts for the Day
October 22, 2009 at 2:22 am
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| | Aussie has bounced back after falling towards 0.9184 and has taken Support at the Projected Max Low for the day. It has in the process broken below the Support of 21-MA on the 8H that we have been mentioning. It has also broken below the 8-DMA at 0.9209. Further correction... |
| Currency Technical Report
October 22, 2009 at 12:57 am
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| | Yesterday's rise above 1.5000 was expected and our basic targets are being reached... The basic target from the break of the June-August sideways formation is 1.5100 area ( clear in the daily chart). |
| Technical Analysis Daily: USD/JPY
October 22, 2009 at 12:02 am
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| | On Wednesday Dollar/Yen traded with volatility upwards. On the 3 hour chart the downward channel was broken upwards, indicating failure of the bears and strengthening of the Dollar, which found good support at 88.15, the the lower limit of the bearish channel. Expectations are for further ascending adjustment in the... |
| Daily FX Report
October 21, 2009 at 11:39 pm
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| | Since the beginning of October, the AUD has been trading in a bullish trend against the NZD. Now, the currency pair reaches the lower Bollinger Band. Four times before in October when it touched the lower line, the prices recovered and rose over the middle to the upper Bollinger Band.... |
| US Dollar On The Move As GBP Expected To Stand
October 21, 2009 at 11:16 pm
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| | The British Pound remained bid overnight and surged higher following the Bank of England Minutes, and the GBP/USD may continue to retrace the sell-off from the previous month as it finds near-term support. Nevertheless, market participants anticipate the U.K. economy to emerge from the recession in the third quarter, with... |
| Forex Technical Analysis
October 21, 2009 at 10:50 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 21, 2009 at 10:04 pm
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| | On Wednesday Pound/Dollar climbed with nearly 300 pips, from the 1.6349 bottom to the 1.6636 top, where rising was limited at the upper limit of the bearish channel, failing to break up the bearish channel, closing the day at 1.6606. The upper line of the downward channel is good place... |
| Forex Technical Analytics
October 21, 2009 at 9:11 pm
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| | Short positions opened and saved before had positive result of the overlap 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. Nevertheless, considering the principle of more probable preservation of... |
| Forex Technical Update
October 21, 2009 at 9:09 pm
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| | EURO 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. We think we would be entering into fresh bullish momentum incase 1.50 holds on a closing basis this week. On February... |
| FX Technical Analysis
October 21, 2009 at 8:38 pm
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| | EURUSD Comment: Posting a new high for this year at 1.5047 with the 9-day moving average once again giving it another little leg up. Interestingly the Euro is not overbought and bullish momentum is fairly strong. Futures volume is about triple what it was at the beginning of this century,... |
| Technical Analysis for Major Currencies
October 21, 2009 at 8:30 pm
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| | The Euro versus Dollar pair inclined to reach the target around 1.5020 before reversing to the downside affected by the bearish signs on the stochastic indicator. We believe this decline is only a correction that shouldn't pass 1.4940 as it should rebound on the intraday basis to target 1.5120 –... |
| Technical Analysis for Crosses
October 21, 2009 at 8:24 pm
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| | Since placing the recorded low of the short term around 139.70, the GBP/JPY pair succeeded to form a typical impulsive upside wave as seen in the above four-hour chart. Now, the heavy negative divergence appearing on OsMA and RSI 14 indicators along with the hanging man candlestick pattern offer potential... |
| Daily Technical Outlook
October 21, 2009 at 8:14 pm
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| | Yesterday's rally to 1.5045 opens the 1.5 territory and current pullback seem corrective, most likely caused by the session's end losses in the equity markets. If the current pullback continues, intra-day support will be faced into the 1.4940/50 region which is backed by 1.4890/00 and 1.4820. While the euro maintains... |
| Currency Pair Daily Forecasts
October 21, 2009 at 7:58 pm
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| | EUR/USD-market strategy can be a sell from the level 1.5084$ To strengthen our analysis; we use many other indicators, starting with MACD (Moving Averages convergence divergence); we notice the MACD lines after a bearish crossover above the zero line. In order to find the power of the market, we use... |
| Technical Analysis Daily: EUR/USD
October 21, 2009 at 7:41 pm
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| | Euro/Dollar made significant ascending movement on Wednesday, breaking up the psychological 1.5000 level. Technically, this fact opens a way for stronger upward impulse toward next objective 1.5170 in the short term, but some adjustments in meanwhile should not come unexpected. Good support downwards is represented by yesterday's bottom at 4890... |
| Forex and Dow Jones Recommended Levels
October 21, 2009 at 7:38 pm
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| | EUR/USD Today's support: - 1.4940(main), where correction is possible. Break would give 1.4916, where correction also may be. Then follows 1.4892. Break of the latter would result in 1.4878. If a strong impulse, we would see 1.4855. Continuation will give 1.4816. |
| The Daily Forecaster: EURJPY
October 21, 2009 at 6:40 pm
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| | The triangle finally broke higher to reach the minimum target at 136.83 but I feel there is one more leg higher left in this… The immediate problem is whether the 136.20 formed the corrective low or whether we can see 135.91-07 first. The break level is around 136.25-30 so if... |
| Market Morning Briefing
October 21, 2009 at 5:33 pm
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| | The Euro (1.50) and Aussie (0.9250) continue to strengthen. The Euro saw a high near 1.5045 yesterday, breasting the 1.50 tape. Dollar-Swiss (1.0075) came close to printing 1.0000 on the screens when it touched a low of 1.0035 yesterday. The market seems to be lusting for the "Parity" level on... |
| Foreign Exchange Market Commentary
October 21, 2009 at 5:20 pm
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| | EUR/USD closed slighgtly higher on Wednesday despite retreating from the strongest level in 14 months, as some investors bet European policy makers will say they are concerned its strength may harm the region's economic recovery. The mid-range close sets the stage for a steady to higher opening on Thursday. Stochastics... |
| FX Technical Commentary
October 21, 2009 at 5:10 pm
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| | Euro 1.5015 Initial support at 1.4829 (Oct 19 low) followed by 1.4762 (Oct 13 low). Initial resistance is now located at 1.5046 (Oct 21 high) followed by 1.5083 (August 11 2008 high) | | | 
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