| USD/JPY Drifts Lower as Global Equities Tumble
October 2, 2009 at 3:31 am
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| | The USD/JPY has failed to garner any noteworthy upward momentum following the bottom set September 28th. The currency is drifting lower after neglecting to build upon its advance past the highly psychological 90 level. The slightly worse than expected TMI release late Wednesday night EST has been countered by much... |
| GBP/USD Slides Towards September Lows
October 2, 2009 at 3:30 am
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| | The GBP/USD is declining rapidly once again after 1.60 and our multiple uptrend lines failed to hold. Britain's Manufacturing and Construction PMIs both came in weaker than expected, further confirming the pullback in global economic data. On a positive note, Britain's Nationwide HPI came in a basis point stronger than... |
| EUR/USD Declines Towards 1.45 with Slide in Equities
October 2, 2009 at 3:28 am
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| | The EUR/USD has followed U.S. equities lower, dropping through our 4th tier uptrend line before tapping the psychological 1.45 level. Though the EUR/USD bounced off of our 1st tier downtrend line, the currency pair continues to drift lower as strong bearish forces take control of the market as a whole.... |
| EURUSD: Gives Back Upside Gains
October 2, 2009 at 1:15 am
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| | EUR continues to face downside pressure nearer term following a reversal of its Wednesday gains in early trading today. This now leaves the pair vulnerable to the downside targeting its Sept 29/14'09 lows at 1.4525/14 where a decisive violation will drive the pair further lower towards the 1.4446 level, its... |
| GBPUSD: Prints Higher Rejection Candle
October 2, 2009 at 1:13 am
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| | GBPUSD - An intra day loss of momentum at the 1.6124 level pushed the pair to a marginal close printing a rejection at the end of the session on Wednesday. This price development now leaves the pair vulnerable to the downside with the next target standing at the 1.5768 level,... |
| Currency Pair Daily Forecasts
October 2, 2009 at 1:04 am
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| | EUR/USD-market strategy can be a sell from the level 1.4548$ 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... |
| Currency Technical Report
October 2, 2009 at 12:53 am
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| | Euro declined yesterday against the dollar , as investors took profits after the negative economic news and ahead of the NFP release today.. Technically, yesterday's decline reached the first important support levels at 1,4500-20 , and an upward reaction is being formed in the beginning of the European session.... |
| Technical Analysis Daily: USD/JPY
October 2, 2009 at 12:09 am
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| | Dollar/Yen lost their bullish momentum on Thursday, and declined, reaching a bottom at 89.36, and closing the day at 89.59. On the 3 hour chart the upper limit of the downward channel limited the bullish movement, forming new downward triangle. Overall, the main trend is expected to remain downward. However,... |
| Forex Technical Analysis
October 2, 2009 at 12:04 am
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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 1, 2009 at 10:13 pm
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| | On Thursday Pound/Dollar traded with volatility. The Cable went over 1.6000, reaching a peak at 1.6023, from where it started declining, closing the day at 1.5952. The Sterling seems to have lost partly the upward momentum and is currently vulnerable to the accumulated downward pressure. We expect trading to maintain... |
| Daily FX Report
October 1, 2009 at 10:11 pm
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| | Since August, the CAD/JPY has been trading along a bearish trend line. When it touched its support, the currency pair was always able to recover for a short pull back. After that, the prices rebounded again and fell under its support level. Now it seems that this trend will repeat... |
| Forex Technical Analytics
October 1, 2009 at 9:03 pm
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| | The pre-planned break-out variant for buyers has been implemented and the achievement of main estimated targets is supported according to the chosen strategy with preservation of bullish activity priority according to OsMA trend indicator. At the moment, considering descending direction of indicator chart there are risks of rate return to... |
| FX Technical Analysis
October 1, 2009 at 8:46 pm
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| | EURUSD Comment: Pulling slowly back in a neat little 'channel', capped again by the 9-day moving average. Today allow for a basing attempt against the short term 50% Fibonacci retracement and 26-day moving average at 1.4500. Momentum is zero and the Euro is a long way from being overbought. |
| Technical Analysis for Crosses
October 1, 2009 at 8:07 pm
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| | Under the negative pressure of our suggested daily Elliott cycle, the pair declined sharply, approaching our yesterday's suggested technical target- check the analysis here-. The subsidiary candlestick formation supports the bearish overview over short and intraday basis, while closing below DEMA and TEMA negative overlapping. AROON and OsMA also support... |
| Forex and Dow Jones Recommended Levels
October 1, 2009 at 7:52 pm
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| | EUR/USD Today's support: - 1.4490(main), where correction is possible. Break would give 1.4476, where correction also may be. Then follows 1.4458. Break of the latter would result in 1.4444. If a strong impulse, we would see 1.4425. Continuation will give 1.4405 |
| Technical Analysis for Major Currencies
October 1, 2009 at 7:40 pm
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| | The Euro versus Dollar pair declined as expected yesterday, in an attempt to target the support level 1.4400. The decline that happened formed a bearish technical pattern on the four hour charts, where we are waiting for the confirmation of the breach of the neckline at 1.4510 on the four... |
| Technical Analysis Daily: EUR/USD
October 1, 2009 at 7:09 pm
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| | Euro/Dollar made a decreasing movement on Thursday from the 1.4668 top, to the 1.4518 bottom, closing the day at 1.4542. Although the downward correction may be limited for now, on the 3 hour chart there is a still valid downward channel, and the currency pair may be going again under... |
| The Daily Forecaster: EURUSD
October 1, 2009 at 6:56 pm
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| | Price extended its losses over the day and remains under pressure. However, I don't think we're going to see the larger push lower today. I can see losses into the 1.4470-96 area at least and this is my favored stalling area but we should also allow for 1.4448. Thus, look... |
| Foreign Exchange Market Commentary
October 1, 2009 at 4:45 pm
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| | EUR/USD closed lower on Thursday and below the 20-day moving average crossing confirming that a short-term top has been posted. The low-range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI are bearish signalling that sideways to lower prices are possible near-term. If... |
| Daily Technical Analysis
October 1, 2009 at 4:40 pm
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| | The GBPUSD continued it's bearish momentum yesterday. On h4 chart below we can see after rejected to move consistently above 1.6113 area, the pair continue to move lower and now traded below 1.6000 area indicating potential weakness for the Sterling. The minor trendline support (orange) has been violated to the... |
| FX Technical Commentary
October 1, 2009 at 3:20 pm
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| | Euro 1.4535 Initial support at 1.4527 (Sept 29 low) followed by 1.4467 (Sept 9 low). Initial resistance is now located at 1.4725 (Sept 25 high) followed by 1.4844 (September 23 high) | | | 
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