| GBPUSD: May Retarget The 1.6692 Level
October 29, 2009 at 6:56 am
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| | The US session has put GBP on the offensive cutting through its strong resistance at the 1.6466 level and turning risk to the upside towards the 1.6692 level. Though immediate risk remains higher, we want to see a convincing violation of the 1.6692 level which will put an end to... |
| Chart Of The Day: EUR/USD
October 29, 2009 at 4:55 am
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| | nce again, price action on EUR/USD, a daily chart of which is shown, has turned up and respected a key uptrend support line extending from the March lows. This occurs after dollar-strengthening price action for the past week has prompted EUR/USD to correct back down to this uptrend line on... |
| FX Thoughts for the Day
October 29, 2009 at 2:17 am
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| | Cable has risen during the day and is testing the Resistance at 1.6480 mentioned in the morning. A rise beyond 1.6480 might find stiffer Resistance at 1.6525. Whereas the honour of 1.6480 is likely to bring the pair down towards the lower end of the range during the US session... |
| GBPUSD - Struggling At The Channel Top
October 29, 2009 at 1:15 am
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| | GBP continues to struggle slightly above its declining channel following its marginal lower close on Thursday. To alleviate its current threat to the downside, the pair must climb back above the 1.6692 level, its Oct 23'09 high to signal further upside towards the 1.6740 level, its Sept 11'09 high where... |
| EURUSD: Trades Below 1.4844, Sees Further Downside Momentum
October 29, 2009 at 1:14 am
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| | Extension of losses following the pair's collapse off the 1.5062 level was seen Thursday pushing EUR to as low as 1.4690. It was seen turning off lower prices today. Vulnerability to the downside still remains on the cards with lower level prices targeting the 1.4699 level, its daily 50 ema... |
| Technical Analysis Daily: USD/JPY
October 29, 2009 at 1:11 am
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| | On Wednesday Dollar/Yen continued the bearish movement, reaching a bottom at 90.58, and closing the day at 90.66. The 92.27 level plays the role of a key resistance at this stage. Our expectations are for bearish trend in the short term, till we see how strong the 90.25 support will... |
| Daily FX Report
October 29, 2009 at 12:46 am
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| | After touching the first Pivot Resistance level at 0.9391, the AUD/CHF fell down with a break through the middle Pivot point at 0.9333 and the first support at 0.9253. Now the market trades on the 0.9200 support level from the end of the previous month, which is similar to the... |
| Forex Technical Analysis
October 28, 2009 at 11:52 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 28, 2009 at 11:19 pm
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| | On Wednesday Pound/Dollar seemed to move above the bearish channel and around it's upper limit on the 3 hour chart, closing the day within it. After a huge bearish momentum at the end of last week the upward pressure is not an unexpected correction. Till we get a convincing movement... |
| Forex and Dow Jones Recommended Levels
October 28, 2009 at 11:12 pm
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| | EUR/USD Today's support: - 1.4672 and 1.4648(main), where correction is possible. Break would give 1.4622, where correction also may be. Then follows 1.4597. Break of the latter would result in 1.4572. If a strong impulse, we would see 1.4544. Continuation will give 1.4526. |
| Will Euro Continue To Retrace Against U.S. Dollar?
October 28, 2009 at 11:07 pm
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| | The Euro weakened against the U.S. dollar for the third day and slipped to a low 1.4788 during the overnight session, and the lack of momentum to push back above the 20-Day SMA (1.4874) may lead the single-currency to retrace the advance from the previous month as investors scale back... |
| Technical Analysis for Major Currencies
October 28, 2009 at 10:34 pm
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| | The pair was able to reach the suggested target at 1.4705, which resides within support levels between the key support for the upside channel and the 61.8% correction, seen in the image above. The stochastic has entered an oversold area with a possible upside adjustment, making us expect an upside... |
| Technical Analysis for Crosses
October 28, 2009 at 10:22 pm
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| | Depending on our short term Elliott sequence, the pair declined aggressively under the pressure of the corrective structure [A-B-C] as seen on the above four-hour chart. A mild internal upside correction may occur to relieve the momentum indicator before resuming the downside rally. Therefore we keep the intraday overview to... |
| Forex Technical Analytics
October 28, 2009 at 10:05 pm
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| | The estimated test of key supports for the implementation of preplanned long positions has not exactly been confirmed and the result of estimated rate rise in medium term outlook according to OsMA indicator version, marked close activity parity of both parties as a sign of uncertainty for the choice of... |
| FX Technical Analysis
October 28, 2009 at 9:33 pm
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| | EURUSD Comment: Giving up 61% of the most recent gains prompting some to talk about a major turn in the US dollar's fortunes. This is very premature as the Euro remains within its 'channel', moving averages and the Ichimoku 'cloud' suggesting a long Euro position. The Euro is almost oversold... |
| Daily Technical Outlook
October 28, 2009 at 9:14 pm
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| | The sell-off continued down to 1.4700 – the 61.8% of the up leg from 1.4480 to 1.5060, as a result of recent losses in equity markets. The S&P500 is facing support formed by a rising trend line coming from August's low at 978.50, as seen in the chart below. A... |
| Forex Technical Update
October 28, 2009 at 9:10 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 indicates major correction in euro driving other currency pairs also lower against dollar.Immediate resistance at 1.4925. Breaking which bullishness will resume again. (EurUsd-1.4722) Bearish |
| Technical Analysis Daily: EUR/USD
October 28, 2009 at 8:14 pm
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| | Euro/Dollar made a significant downward movement on Wednesday with around 130 pips, reaching a bottom at 1.4697, and closing the day at 1.4718. The bearish divergence is giving signal for exhaustion of the bullish momentum and trend turn. On the 3 hour chart quotes broke down the bullish channel, suggesting... |
| The Daily Forecaster: EURUSD
October 28, 2009 at 6:48 pm
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| | Both hourly & 4-hour momentum looks pretty soggy and this should bring additional losses. The first area that may hold is the 82.69-81 zone but unless a bullish divergence develops I can't see this bringing any strong reversal. So break below 82.69 would extend losses to the 81.96-13 area. Here... |
| Market Morning Briefing
October 28, 2009 at 5:30 pm
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| | Most non-Dollar and non-Yen currencies have taken another big beating and might have a wee bit more to loose today. But, the corrective fall in the high-yielders should be nearing its end and these currencies may run into buying interest over today-tomorrow. The Euro (1.4715) has Support near 1.4665 although... |
| Foreign Exchange Market Commentary
October 28, 2009 at 5:26 pm
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| | EUR/USD closed lower due to profit taking on Wednesday 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 Thursday. Stochastics and the RSI are overbought but remain neutral to bullish signalling that sideways to higher... |
| FX Technical Commentary
October 28, 2009 at 4:46 pm
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| | Euro 1.4720 Initial support at 1.4691 (Oct 28 low) followed by 1.4674 (Oct 9 low). Initial resistance is now located at 1.4927 (Oct 27 high) followed by 1.5063 (Oct 26 high) | | | 
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