| Daily Technical Analysis
October 28, 2009 at 4:15 pm
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| | As I had expected, the EURUSD continued it's bearish momentum yesterday, bottomed at 1.4690 and closed at 1.4715. As you can see in my daily chart below, we area in critical technical phase where price is now testing the major trendline support. This trendline support could be a strong support... |
| USD/JPY Reverses and Dips Back Towards 91
October 28, 2009 at 6:15 am
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| | The USD/JPY topped out yesterday and has been hit by a wave of downward pressure in reaction to the selloff in U.S. equities. Investors are taking profits in some of their riskier investment vehicles, including the USD/JPY. Additionally, the more negatively mixed U.S. econ data we receive, the less likely... |
| GBP/USD Treks Higher with our 2nd tier Uptrend Line
October 28, 2009 at 6:14 am
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| | The Cable has managed to hold up well above our 2nd tier uptrend line despite recent strength in the Dollar. Investors were encouraged by yesterday's positive CBI Realized Sales data considering the damage brought upon the Cable by Friday's disappointing Prelim GDP data. The CBI release has allowed the Cable... |
| EUR/USD Consolidates above 10/13 Lows
October 28, 2009 at 6:13 am
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| | The EUR/USD has undergone encouraging consolidation along what is now our 3rd tier uptrend line. Present consolidation comes with a sigh of relief considering the extent of the selloff in the EUR/USD thus far this week. Investors are encouraged by the better than expected Core DGO data even though the... |
| Chart Of The Day: AUD/USD
October 28, 2009 at 4:46 am
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| | Price action on AUD/USD, a daily chart of which is shown, has displayed some significant U.S. dollar strengthening in the past several trading days, much in the same manner as other dollar-based currency pairs. But the strong uptrend in AUD/USD, which has been firmly in place since early March, is... |
| Usd/Cad Long Off With Oil Under $82
October 28, 2009 at 4:43 am
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| | The Usd/Cad pair broke through the red wave I top at shown at 1.0581, and that was the key for the move towards the trend line resistance, as discussed recently. If the trend upper line also gets broken around 1.0730 in the near-term then prices may trade into the 1.0900... |
| FX Thoughts for the Day
October 28, 2009 at 1:54 am
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| | Swiss has risen during the day from the low of 1.0191. Immediate Resistance is seen at 1.0250, a break above which might see a rise towards 1.0280-0300 in the US session today. Note that 1.0292 is the 61.8% retracement level of the fall from 1.0452 (01-Oct) to 1.0034 (21-Oct). And... |
| EURUSD - Outlook Bearish Below The 1.4844/1.5000 Levels
October 28, 2009 at 1:16 am
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| | As a follow through lower on the pair's collapse off the 1.5062 level saw it violating key support at the 1.4844 level, its Sept 23'09 high on Tuesday, threats of further downside is now seen towards the 1.4699 level, its daily 50 ema and its Oct 09'09 low at 1.4672.... |
| GBPUSD - Still Vulnerable To The Downside
October 28, 2009 at 1:14 am
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| | Although GBP maintained a positive close on Tuesday, that occurred below the 1.6466 level, its strong resistance which must be taken out to signal a move higher targeting the 1.6692 level, its Oct 23'09 high. Until this materializes, downside pressure is still expected towards its Sept 30'09 high at 1.6124... |
| Technical Analysis Daily: USD/JPY
October 28, 2009 at 1:06 am
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| | Dollar/Yen tried to climb on Tuesday, but failed to break up the key resistance at 92.32, dropping later down to 91.60, and closing the day at 91.76, indicating reversal bearish trend. 90.93 remains a strong support today. Convincing break under that level may seriously shake the upward scenario and lead... |
| Technical Analysis Daily: GBP/USD
October 27, 2009 at 11:05 pm
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| | On Tuesday Pound/Dollar climbed to the 1.6438 top, forming convergence on the 3 hour chart. From that point the Cable started descending down to the 1.6315 bottom, closing the day at 1.6374. Our preferable scenario today is downwards from the good resistance level and upper limit of the downward channel... |
| Forex Technical Analysis
October 27, 2009 at 10:25 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 27, 2009 at 10:03 pm
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| | The estimated test of key supports has not exactly been confirmed and the estimated rate rise marked signs of rate overbought as the ground to suppose further rate correction period with the preservation of bullish direction for planning of trading operations for today. On the assumption of it, as well... |
| FX Technical Analysis
October 27, 2009 at 9:25 pm
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| | EURUSD Comment: Dropping to the 26-day at 1.4770, giving up 50% of the most recent gains. The Euro is no longer overbought and bullish momentum is almost nil. Expect it to try and hold at current levels today. |
| Daily Technical Outlook
October 27, 2009 at 9:17 pm
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| | Euro's sell-off continued on yesterday as a result of equities pulling back from recent top sides. Support has been found on the 50% retracement of October's swing from 1.4480 to 1.5060 - at 1.4770 and former support zone around 1.4830 provides a minor resistance which is under pressure at the... |
| Forex Technical Update
October 27, 2009 at 8:45 pm
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| | EURO bullish momentum was paused on Friday and corrected yesterday around 200 pips.Bullishness is slowly fading away with the break of 1.4850 levels.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 resume again.(EurUsd-1.4812) Neutral |
| Technical Analysis for Major Currencies
October 27, 2009 at 8:25 pm
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| | The pair declined as expected yesterday, where it is currently trading between the 38.2% correction at 1.4840 and the 50% correction at 1.4770, with more tendency to the downside. As we see, the pair is within an oversold area yet a bearish crossover is evident on the 20 and 50... |
| Technical Analysis for Crosses
October 27, 2009 at 8:22 pm
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| | After being limited below 61.8% Fibonacci level, the GBP/JPY pair collapsed proving the strong bearish pressure obtained form the bigger A-B-C –corrective scenario- of the captured short term cycle on the four-hour interval. The candlestick formation shows that the declines are to continue over the intraday basis. AROON supports the... |
| Technical Analysis Daily: EUR/USD
October 27, 2009 at 8:04 pm
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| | After the sharp drop on Monday, yesterday Euro/Dollar continued descending insignificantly with around 150 pips. If the currency pair gets consistent movements above yesterday's top 1.4920, the trend may still get into the previous upward channel. However, there is also a downward divergence of CCI indicator on the 3 hour... |
| Currency Pair Daily Forecasts
October 27, 2009 at 7:50 pm
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| | EUR/USD-market strategy can be a buy from the level 1.4817$ 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,... |
| The Daily Forecaster: AUDJPY
October 27, 2009 at 6:57 pm
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| | The underlying MT direction is bearish while the daily bias is bearish. Therefore the main risk is lower. Ensure that key resistances levels hold. Note key support levels that would suggest continuation of the bearish move. Consider confirming this with a bearish set up pattern in price or an indicator.... |
| Forex and Dow Jones Recommended Levels
October 27, 2009 at 6:54 pm
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| | EUR/USD Today's support: - 1.4777 and 1.4748(main), where correction is possible. Break would give 1.4725, where correction also may be. Then follows 1.4714. Break of the latter would result in 1.4690. If a strong impulse, we would see 1.4672. Continuation will give 1.4648. | | | 
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