| S&P Doji Signals Short Euro
October 26, 2009 at 9:03 am
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| | At the start of a new week in Asian trade the U.S. dollar was moved lower by a higher Japanese and Chinese session of trade. The Eur/Usd traded up, into the1.5040-1.5060 region for the third time in the past four trading days, before today's European and U.S. stock markets reversed... |
| Eur/$, Finally Broke the Key Support....
October 26, 2009 at 8:49 am
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| | In the Oct 20th email on eur/$, affirmed the long position (rebought on Sept 29th email at 1.4590) but warned that risk was rising rapidly (lots of important, longer term resistance, see below, bear divergence on the daily macd, etc.). Said to use a very aggressive stop on an intraday... |
| USD/JPY Consolidates with an Upward Bias
October 26, 2009 at 5:42 am
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| | The USD/JPY is consolidating around our 2nd tier downtrend line while maintaining its upward bias from last week. Positive U.S. Q3 earnings and econ data have given investors renewed faith in the U.S. economy as a whole, allowing investors to feel more comfortable with the USD/JPY risk trade. By sending... |
| Chart Of The Day: USD/CHF
October 26, 2009 at 5:40 am
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| | Bearish price action on USD/CHF, a daily chart of which is shown, is approaching parity within the context of a steep, continuing downtrend. Parity (at 1 U.S. dollar to 1 Swiss franc) was last hit in July of 2008. Therefore, the long-term low from last week, which fell just shy... |
| GBP/USD Stabilizes along our 2nd Tier Uptrend Line
October 26, 2009 at 4:36 am
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| | The GBP/USD has balanced along our 2nd tier uptrend line after getting pummeled on Friday. Britain's Prelim GDP data printed 6 basis points below analyst expectations (-0.4% vs 0.2%), shocking investors and igniting speculation that the BoE will keep its QE package open. This sentiment contradicts recent optimism garnered from... |
| EUR/USD Consolidates Around 1.50
October 26, 2009 at 4:35 am
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| | The EUR/USD is continuing its consolidation around the highly psychological 1.50 mark after Germany's Consumer Climate number came in weak as anticipated. Despite the miss, the EUR/USD is showing little reaction since today's data reading could be just a bump in the road to improvement and doesn't confirm a material... |
| EURUSD: Maintaining Upside Momentum Above The 1.5000 Level
October 26, 2009 at 3:48 am
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| | The pair was seen taking a stab at higher prices today trading to as high as 1.5062 level and while holding above the 1.5000 level, we continue to see further upside risk. That leaves the 1.5082 level, its Aug 10'08 high as the next upside target with a loss of... |
| USDJPY: Channel Top To Provide Resistance
October 26, 2009 at 3:47 am
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| | Outlook for USDJPY though nearer term higher, is largely bearish short and medium terms suggesting its current recovery is corrective of its declines triggered off the 101.43 level in April'09. More evidence of this view is provided by its falling channel patterns both on the weekly and daily charts and... |
| FX Thoughts for the Day
October 26, 2009 at 1:57 am
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| | Cable has risen a little beyond the Resistance at 1.6300. Further rise beyond the immediate Resistance at 1.6354 (21-Week MA) should find another strong Resistance near 1.6425. We would then expect the pair to fall towards 1.62 if this Resistance holds strong. This would further increase chances of the Friday's... |
| Currency Technical Report
October 26, 2009 at 1:24 am
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| | Euro is still in an uptrend and our first targets have been reached. The wider area of 1,5100 should be confirmed as an important technical resistance. However, retracements remain weak and the short term channel in the 4 hour chart is still valid, after the last base of 1,4480-4500. The... |
| Daily FX Report
October 25, 2009 at 11:55 pm
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| | Since the end of September, the GBP has lost along a downward trend line against the AUD. After it crossed the 1.7600 level, the pair started to recover its losses and reached a high of around 1.8000. The market is trading currently on the downward trend line again and touched... |
| Forex Technical Analysis
October 25, 2009 at 11:32 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. |
| Forex Technical Analytics
October 25, 2009 at 11:02 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 activity fall of both parties as it was before, does not clarify the choice of planning priorities for today. Nevertheless, considering suppositions of further rate range movement... |
| Daily Technical Outlook
October 25, 2009 at 9:16 pm
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| | Resistance into the 1.5045/50 region is intact and couldn't be broken yet although it's been tested several times. Upside remains favored as long as intra-day support on the 1.5000 handle will hold on potential pullbacks. Intra-day studies are bullish but a sustained break above 1.5050 should encourage faster gains towards... |
| Technical Analysis for Crosses
October 25, 2009 at 8:07 pm
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| | The daily closing that occurred on Friday -secondary image- supports our captured short term Elliott sequence while the GBP/JPY pair is forming the [A] wave as seen on our provided four-hour chart. The technical target of the aforesaid wave resides around 146.40. Hence we keep our overview to the downside... |
| Technical Analysis for Major Currencies
October 25, 2009 at 7:56 pm
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| | The pair started today's trading with some upside potential yet we see on the hourly charts that the pair failed to close above 1.5045 or 1.5065 which resulted in a reversal to the downside where the stochastic indicator is showing a bearish crossover supporting the correctional decline. The pair does... |
| Forex and Dow Jones Recommended Levels
October 25, 2009 at 7:48 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. |
| The Daily Forecaster: GBPJPY
October 25, 2009 at 6:36 pm
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| | Well… that was a total reversal and from below my target. However, I think we're close to the end of the first leg lower and I feel this will stall in the 148.70-87 area. Look for a bullish reversal pattern here. Once it starts on its way the first area... |
| Foreign Exchange Market Commentary
October 25, 2009 at 6:29 pm
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| | EUR/USD closed lower due to profit taking on Friday as it consolidated some of the week's rally. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are overbought but remain neutral to bullish signalling that sideways to higher prices are possible... |
| Market Morning Briefing
October 25, 2009 at 5:31 pm
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| | The Dollar has taken a beating against the Yen in early Asian trade today. Dollar-Yen (91.65) has fallen from a high of 92.20 seen earlier in the morning. Euro (1.5040) has moved up a bit, but faces important Resistance in the 1.5060-99 region. The Euro-Yen Cross (137.85) has come off... |
| FX Technical Commentary
October 25, 2009 at 4:37 pm
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| | Euro 1.5010 Initial support at 1.4829 (Oct 19 low) followed by 1.4762 (Oct 13 low). Initial resistance is now located at 1.5083 (Oct 21 high) followed by 1.5163 (76.4% retrace 1.6038 - 1.2330) |
| Daily Technical Analysis
October 25, 2009 at 3:46 pm
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| | The EURUSD bullish momentum was paused on Friday. This may caused by a profit-taking activity on the weekend but some people, including me, start to worry about potential downside correction or even a bearish reversal. Like I said in my weekly summary on Saturday, beside the pair can not really... | | | 
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