| Usd/Jpy Correction
October 23, 2009 at 8:20 am
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| | On the recent four hour yen chart below, traders can see that market has reached the 91.50-91.70 target zone for the second time this week, after the bounce from our Fibonacci support region, discussed on Tuesday. The 38.2% Fibonacci retracement of a blue wave A) distance (daily chart) has been... |
| USD/JPY Knocks on the Door of our 2nd Tier Downtrend line
October 23, 2009 at 6:24 am
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| | The USD/JPY is contemplating surpassing our 3rd tier downtrend line as U.S. equities selloff and we witness broad-based strength in the Dollar. Britain's surprisingly negative Prelim GDP figure sent shockwaves throughout the FX community, and the Dollar is benefitting as a result. A combination of positive U.S. Q3 earnings and... |
| GBP/USD Plummets Following Surprise Prelim GDP Data
October 23, 2009 at 5:50 am
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| | Most of the Cable's positive technicals were shattered after Britain's Prelim GDP number shocked investors by printing negative at -0.4% vs 0.2%E. Investors sent the GBP/USD tumbling on strong volume since all of the positive fundamentals from the past two weeks have now been brought into question. Furthermore, investors are... |
| EUR/USD Retreats with U.S. equities and Broad Dollar Strength
October 23, 2009 at 5:49 am
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| | Investors are favoring the Dollar today after Q3 earnings continued to roll in positively, most notably MSFT and AMZN. Furthermore, U.S. Existing Home Sales blew past estimates while Britain's Prelim GDP printed a shocking -0.4%. Therefore, investors are suddenly favoring the U.S. economy, and are heading towards the Dollar in... |
| EURUSD: Pressure To The Upside But With Caution
October 23, 2009 at 5:16 am
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| | With an earlier weakness below the 1.5000 level being reversed higher and now trading above that level, threats remain for the continuation of its medium term uptrend towards the 1.5082 level, its Aug 10'08 high and then the 1.5283 level, its May 04'08 low. This upside view will be boosted... |
| Chart Of The Day: USD/JPY
October 23, 2009 at 5:11 am
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| | Bullish price action for the last two weeks on USD/JPY, a daily chart of which is shown, has formed a steep short-term uptrend within the context of a longer-term downtrend channel. Price has also just reached strong resistance in the 92.00 support/resistance region, and additionally, is approaching the approximate upper... |
| FX Thoughts for the Day
October 23, 2009 at 2:27 am
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| | Cable crashed post dismal GDP data release. The free fall from 1.6793 can possibly be contained near 1.6318-6290. This week, it has risen on the Support of the 8-week MA at 1.6221, that might be tested on a break of the above Support. Rather stay from the pair for a... |
| Currency Technical Report
October 23, 2009 at 1:45 am
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| | Our lower targets were achieved during yesterday's highs, but retracements remained weak, indicating that buyers still dominate. Important resistance emerges at 1,5100 area, which is the most possible target. As you can see in the daily chart two different channels are met at these levels and these levels should not... |
| EURJPY: On The Verge Of Breaking Triangle Pattern
October 23, 2009 at 1:23 am
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| | With our previous and recent calls for a trade towards and an eventual break of its symmetrical triangle top at 138.02, that level is currently under attack as the time of this analysis. On a decisive break of there, risk will turn to the 138.71 level where its Aug 07'09... |
| GBPUSD- Collapsing Off The 1.6692 Level
October 23, 2009 at 1:21 am
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| | Following the pair's marginal lower close on Thursday after reversing most of its intra day its intra day losses, it was seen selling off sharply in early trading today. The question now is what is the risk? The immediate risk of this sell off is the 1.6466 level, its Sept... |
| Technical Analysis Daily: USD/JPY
October 23, 2009 at 12:17 am
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| | Dollar/Yen continued climbing on Thursday, as expected. The currency couple made a bottom at 90.79, from where it started rising up to the 91.68, closing the day at 91.33. Today ascending continued to new peak at 91.92, which is also the nearest resistance for today. Break above that level may... |
| Daily FX Report
October 22, 2009 at 11:14 pm
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| | Since the middle of October, the GBP has been trading in a bullish trend channel against the USD. With its second attempt, the currency pair could cross its resistance at 1.6601 and it seems that the breakthrough was successful. Furthermore a crossing Momentum through the signal line from below may... |
| Forex Technical Analysis
October 22, 2009 at 11:00 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 22, 2009 at 10:13 pm
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| | On Thursday Pound/Dollar made a significant downward correction down to the 1.6493 bottom, from where the Cable started recovering, closing the day at 1.6619. The British currency seemed to be in a consolidation phase, which seems to be over now, as quotes continued climbing today. If today's top and nearest... |
| Euro Keep Dominant Against Ineffective Yen
October 22, 2009 at 10:04 pm
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| | The yen tumbled to a two-month low against the euro as demand for higher-yielding assets rebounded on an earnings-sparked advance in stocks and mounting evidence the global economy is recovering. Japan's currency headed for a weekly decline versus 14 of its 16 most-traded counterparts as Asian shares extended a rally... |
| Forex Technical Update
October 22, 2009 at 9:41 pm
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| | EURO continued it's bullish momentum yesterday and maintained holding above 1.50 levels.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. (EurUsd-1.5014) Slight Bullish |
| Forex Technical Update
October 22, 2009 at 9:40 pm
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| | EURO continued it's bullish momentum yesterday and maintained holding above 1.50 levels.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. (EurUsd-1.5014) Slight Bullish |
| Forex Technical Analytics
October 22, 2009 at 9:06 pm
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| | The pre-planned short positions from key resistance range levels were implemented with the achievement of minimal estimated target. OsMA trend indicator having marked close activity parity of both parties gives grounds to suppose further rate range movement without clarifying the choice of planning priorities for today. Therefore, considering current bullish... |
| FX Technical Analysis
October 22, 2009 at 9:04 pm
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| | EURUSD Comment: Another new high for this year at 1.5061 with the 9-day moving average rising quickly. The Euro is slightly overbought and bullish momentum is fairly strong and might increase on a weekly close above the psychological 1.5000 level. |
| Technical Analysis for Major Currencies
October 22, 2009 at 8:51 pm
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| | Trading for the Euro versus Dollar pair maintained above 1.5000 near 1.5040, which represents a neckline for a bullish technical pattern, seen in the secondary image. This pattern supports our expectations for further inclines on the intraday basis to take the pair to 1.5140 - key resistance for the bullish... |
| Technical Analysis for Crosses
October 22, 2009 at 8:47 pm
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| | Having a look at the internal structure of the fifth wave of our recently captured Elliott count, we will find out that the GBP/JPY pair is forming the 5th wave of the bigger fifth as seen on our provided four-hour chart. The negative divergence is still in progress on OsMA.... |
| Daily Technical Outlook
October 22, 2009 at 8:42 pm
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| | The euro remains bid and upside pressure is quite high as the pair has reached a fresh high at 1.5060. Yesterday's recovery in equity markets has favored the euro's rally from the mid 1.49 region where it faced solid buying interest. Hourly price action suggests some weakness on a corrective... |
| Foreign Exchange Market Commentary
October 22, 2009 at 7:37 pm
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| | EUR/USD closed higher on Thursday despite light profit taking. The mid-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI are bullish signalling that sideways to higher prices are possible near-term. If it extends this week's rally, the 87% retracement level of he... |
| Technical Analysis Daily: EUR/USD
October 22, 2009 at 7:33 pm
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| | On Thursday Euro/Dollar made insignificant ascending movement with just over 100 pips. The currency couple tried to drop, reaching a bottom at 1.4948, from where it started ascending up to the 1.5058 top, closing the day at 1.5027. On the 3 hour chart unconvincing break up of 1.5000 led to... |
| The Daily Forecaster: AUDUSD
October 22, 2009 at 6:21 pm
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| | In the end we did see a retest of the 0.9180 low but from there the rally has developed well and I feel that we should still see extension to the 0.9326-31 area first. I suspect the 0.9253 corrective low should support - at most 0.9226 - to provide the... |
| Forex and Dow Jones Recommended Levels
October 22, 2009 at 5:45 pm
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| | EUR/USD Today's support: - 1.4974 and 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. |
| Market Morning Briefing
October 22, 2009 at 5:31 pm
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| | The Euro (1.5030) saw a high near 1.5060 today while the Aussie (0.9276) has been consolidating below 0.93 since yesterday. The Cable (1.6658) continues to surge and has further room on the upside. Dollar-Swiss (1.0058) has fallen again to a new 2009 low of 1.0032. A test of Parity is... |
| Daily Technical Analysis
October 22, 2009 at 4:49 pm
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| | The EURUSD attempted to push lower yesterday but found support at 1.4943, whipsawed to the upside, topped at 1.5037 and closed at 1.5025, indicating bullish momentum remains strong and downside corrections might be over at this phase. I dont' trade corrections, but I love them |
| FX Technical Commentary
October 22, 2009 at 4:09 pm
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| | Euro 1.5035 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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