| Foreign Exchange Market Commentary
October 27, 2009 at 5:44 pm
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| | EUR/USD closed lower due to profit taking on Tuesday as it continued to consolidated some of the last week's rally. The low-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI are overbought but remain neutral to bullish signalling that sideways to higher... |
| Market Morning Briefing
October 27, 2009 at 5:39 pm
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| | The Euro (1.4820) saw an overnight low near 1.4770 while the Aussie (0.9125) continues to dip and may test 0.9070 before it recovers. The Pound (1.6360) has bounced slightly after last week's dive leading to a low of 1.6250 on Monday. Further losses are possible however as the disappointment with... |
| Daily Technical Analysis
October 27, 2009 at 4:25 pm
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| | The EURUSD had a significant technical bearish movement yesterday, break below my key support level 1.4850, bottomed at 1.4769 and closed at 1.4805. This fact should open the door for further bearish momentum towards 1.4670 area. The bias remains bearish in nearest term. 1.4850 area now become immediate resistance. Break... |
| FX Technical Commentary
October 27, 2009 at 3:45 pm
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| | Euro 1.4820 Initial support at 1.4770 (Oct 27 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) |
| USD/JPY Continues to Consolidates with an Upward Bias
October 27, 2009 at 8:45 am
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| | The USD/JPY has continued its consolidation around 92 and has perked above our 2nd tier downtrend line in the process. However, the currency pair is having a little trouble breaking through our 3rd tier downtrend line after tapping it earlier today. Meanwhile, the USD/JPY's topside run is reaching an important... |
| GBP/USD Holds Strong above our 2nd Tier Uptrend Line
October 27, 2009 at 8:43 am
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| | The Cable has managed to hold up well above our 2nd tier uptrend line despite broad-based strength of the Dollar. Today's CBI Realized Sales number came in above analyst expectations and is helping buoy the Pound after Friday's disappointing Prelim GDP data. Today's CBI data counters recent flat Retail Sales... |
| EUR/USD Drops Beneath 10/19 Lows
October 27, 2009 at 8:43 am
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| | The EUR/USD skidded below its highly psychological 1.50 level yesterday in reaction to the selloff in U.S. equities. We didn't receive much pertinent econ data or news from the EU on Monday, telling us weakness in the Euro was fueled by overbought conditions and the pullback in the S&P futures.... |
| Dollar Index Structure
October 27, 2009 at 8:37 am
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| | The global stock market is lower at the start of a new week, which is driving the U.S. dollar higher. S&P Futures fell sharply trade from 1088 daily highs to 1062 support from 13th of October, where a possible break-out should take the U.S. Dollar even higher. "The dollar Index... |
| EURGBP: Reversing Its Past Week Rally
October 27, 2009 at 4:50 am
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| | Having failed to follow through higher on Monday ,EURGBP sold off sharply to close lower at 0.9116. It was seen building on those losses in early trading today suggesting that further weakness targeting the 0.9076 level, its Sept 30'09 low is now seen ahead of its psycho level at 0.9000... |
| FX Thoughts for the Day
October 27, 2009 at 2:18 am
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| | Cable is testing the Resistance region mentioned in the morning. If honoured, we would expect the pair to fall towards 1.62 initially and 1.60 thereafter. If broken, the pair may move up towards 1.6550-1.6600 and beyond that it might continue within the medium term uptrend. The chances are equal. It... |
| Technical Analysis Daily: USD/JPY
October 27, 2009 at 1:04 am
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| | On Monday Dollar/Yen decreased down to 91.57, from where renewed its upward trend to 92.29, closing the day at 92.22. Signals are expected to be rising for now, but any bearish correction should not come unexpected. On the 1 hour chart 92.35 is a key resistance, the break of which... |
| GBPUSD - Hitting Its Channel Resistance
October 27, 2009 at 12:54 am
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| | With a marginal close seen Monday following a retest of its falling channel resistance, another attempt was seen being made at the same resistance today. GBP continues to struggle within the mentioned channel since breaking into it the past week following its failure at the 1.6692 level, its Oct 23'09... |
| Euro Runs Out Of Steam As JPY Expected To Rise
October 26, 2009 at 11:57 pm
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| | The yen advanced against the dollar and the euro as stocks declined, sapping demand for higher- yielding currencies. The Japanese currency climbed the most versus the South Korean won and Swedish krona as the MSCI World Index of shares declined for a sixth day. The Australian dollar rose against all... |
| Daily FX Report
October 26, 2009 at 11:49 pm
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| | During October the EUR/USD has gained inside a bullish trend channel. After it touched the lower line of the channel several times, it finally broke through it and fell to the support level of around 1.4840. If the market doesn't break this support level and rebound back over the 1.4900,... |
| Forex Technical Analysis
October 26, 2009 at 11:43 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 26, 2009 at 11:03 pm
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| | As US stocks slid on Monday the Pound was seriously harmed like the other majors. The pair reached the 1.6254 bottom yesterday, closing the day at 1.6305. On the 3 hour chart quotes are moving within the 1.5754 - 1.6708 range, and we look for a break of either limits... |
| Forex Technical Update
October 26, 2009 at 10:17 pm
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| | EURO bullish momentum was paused on Friday and corrected yesterday around 200 pips.Bullishness is valid till it holds a even key support level 1.4850 area. Break of 1.48 clearly would signal major correction in euro driving other currency pairs also lower against dollar.Immediate resistance at 1.5050. Breaking which bullishness will... |
| Forex Technical Analytics
October 26, 2009 at 10:11 pm
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| | The pre-planned break-out variant for buyers was implemented with the achievement of minimal estimated target. OsMA trend indicator having marked break out of key resistance levels by considerable bullish activity rise and gives grounds to the choice of buyers' direction priority for today. On the assumption of it, as well... |
| FX Technical Analysis
October 26, 2009 at 10:04 pm
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| | EURUSD Comment: Time for a breather as news that it trades over 1.5000 hits the front page in some newspapers. Yesterday's large 'bearish engulfing' candle suggest we shall correct and consolidate below this year's high at 1.5064 this week and probably next. Dropping below the 9-day moving average and hopefully... |
| Daily Technical Outlook
October 26, 2009 at 9:25 pm
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| | Yesterday's losses in equities caused the euro's decline into the key support zone into the 1.4820/50 region. Former resistance around 1.4830 which is the top side of September provides support and while it holds, uptrend will remain intact, despite yesterday's decline of 220 points which is probably corrective. Although the... |
| Technical Analysis Daily: EUR/USD
October 26, 2009 at 8:20 pm
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| | On Monday Euro/dollar climbed to the 1,5059 top, than collapsed to the 1.4846 bottom, as expected, where the bears are limited for now, and the currency couple closed the day at 1.4870. The upward impulse may be renewed, and the downward correction may be over for now, if the European... |
| Technical Analysis for Major Currencies
October 26, 2009 at 8:17 pm
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| | According to yesterday's suggested scenario; the pair declined to correct 38.2% from the ascending channel, seen in the image above. The pair now needs a slight upside correction due to the long black candlestick before continuing the decline. Overall, the pair may still decline further yet after relieving momentum indicators. |
| Technical Analysis for Crosses
October 26, 2009 at 8:13 pm
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| | According to our captured short term Elliott sequence, the GBP/JPY pair corrected slightly to form the internal waves of the bigger A-B-C. This correction is awaited to be limited below the pivotal level of 61.8% at 151.60 zones before resuming the downside rally. Hence we keep the intraday outlook to... |
| Currency Pair Daily Forecasts
October 26, 2009 at 7:26 pm
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| | EUR/USD-market strategy can be a sell from the level 1.4903$ 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 below the zero line. In order to find the power of the market, we use... |
| The Daily Forecaster: USDCAD
October 26, 2009 at 6:28 pm
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| | The ascending triangle worked well with the breach of 1.0545 triggering follow-through to the 1.0695 resistance. There may be risk that a second ascending triangle is developing and while 1.0675-80 supports this can still work. Thus, if we see direct breach of 1.0695 look for the upside to reach the... |
| Foreign Exchange Market Commentary
October 26, 2009 at 6:24 pm
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| | EUR/USD closed lower due to profit taking on Monday as it consolidated some of the last week's rally. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are overbought but remain neutral to bullish signalling that sideways to higher prices are... |
| Market Morning Briefing
October 26, 2009 at 5:40 pm
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| | The Euro (1.4883) and Aussie (0.9188) has fallen sharply yesterday. Significant Support is seen in the region 1.4850-30 and 0.9120-00 for Euro and Aussie respectively. Dollar-Yen has risen from yesterday's low of 91.57. Resistance is seen at 92.50. |
| Daily Technical Analysis
October 26, 2009 at 4:21 pm
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| | The EURUSD had a significant bearish momentum yesterday, bottomed at 1.4844 and closed at 1.4863. The CCI bearish divergence I showed you on Saturday give us a valid signal about bullish exhaustion and bearish momentum. On h4 chart below we can see that price violated the bullish channel to the... |
| FX Technical Commentary
October 26, 2009 at 3:53 pm
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| | Euro 1.4875 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) | | | 
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