| USD/JPY Heads Back Below 91
October 30, 2009 at 6:28 am
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| | A selloff is taking place in the riskier FX pairs and the USD/JPY is following suit, telling us investors prefer the Yen over the Dollar as a safe haven right now. Today's strength in the Yen also stems from the BoJ's decision to end a couple of its bond purchasing... |
| GBP/USD Deflected by our 2nd Tier Downtrend Line
October 30, 2009 at 6:27 am
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| | The Cable's rally in reaction to yesterday's positive U.S. Prelim GDP has hit a wall at our 2nd tier downtrend line. As with the EUR/USD, the GBP/USD failed to receive any abnormal topside volume yesterday, indicating bulls weren't fully behind the risk rally. The lack of topside conviction likely stems... |
| EUR/USD Tops Out Below 10/27 Highs
October 30, 2009 at 6:26 am
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| | The EUR/USD is under some selling pressure today after yesterday's rally fueled by U.S. Prelim GDP data failed to overcome 10/27 highs, let alone our 1st tier downtrend line. Additionally, yesterday's buy-side volume came in well below Tuesday's pop in sell-side activity. As a result, a negative investor sentiment remains... |
| EURUSD - Remains Vulnerable To The Downside
October 30, 2009 at 6:23 am
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| | Intra day price action saw the pair wiping out almost all of its Thursday gains during the US session today suggesting an extension could shape towards its Oct 29'09 low at 1.4682. As highlighted in our earlier analysis of EUR's vulnerability to the downside while holding and trading below the... |
| $ Index: Wave Two Structure
October 30, 2009 at 2:46 am
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| | On the four hour chart above, traders may notice the latest 76.57 top around the trend-line resistance that looks to be the top of a black wave i, (which pushed the prices lower into a corrective wave ii). The most typical Fibonacci retracement level of a corrective wave two... |
| FX Thoughts for the Day
October 30, 2009 at 2:17 am
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| | Cable fell towards 1.6508 during the day today. Longs near 1.65 may be attempted as there's potential bull flag in the making. The rise may come about today/early next week. However, there's US Personal Income numbers scheduled for today. Any positive surprises would confirm the bull flag. Week close above... |
| Currency Technical Report
October 30, 2009 at 1:31 am
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| | Support at 1,4680 area managed to limit euro's decline and the reach of the lower Bollinger in the daily chart, combined with the strong positive candle, indicate that a reversal is possible… Yesterday's reaction led to 1,4840-60 resistance, but retracements remained weak. A rise resumption is possible if 1,4760-70 is... |
| Currency Pair Daily Forecasts
October 30, 2009 at 1:02 am
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| | EUR/USD-market strategy can be a sell from the level 1.4861$ 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 above the zero line. In order to find the power of the market, we use... |
| EURUSD - Halts Declines, Targets The 1.4844 level
October 30, 2009 at 12:28 am
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| | An early extension of the pair's corrective declines was rebuffed Thursday pushing it strongly higher and wiping out its Wednesday losses to close higher at 1.4837. Although its mentioned nearer term weakness has halted, EUR must build on its Thursday strength and break and hold above its strong resistance residing... |
| GBPUSD - Looks To Retarget The 1.6692 Level
October 30, 2009 at 12:26 am
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| | The pair maintained an offensive tone on Thursday cutting through its strong resistance at the 1.6466 level, its Sept 23'09 high and turning risk to the upside towards the 1.6692 level, its Oct 23'09 high. Though immediate risk remains higher, we want to see a convincing violation of the 1.6692... |
| Daily FX Report
October 30, 2009 at 12:20 am
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| | After breaking through the 136.00 support level during October, the EUR/JPY reached a low at around 132.80 and pulled back to the 136.00 level, which is a technical and a psychological resistance now. It additionally reached the middle Bollinger band, which could indicate that the market is ready to pull... |
| Forex Technical Analysis
October 30, 2009 at 12:11 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. |
| JPY In Trouble As USD Showing Strength
October 29, 2009 at 11:47 pm
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| | The Japanese Yen pushed higher in overnight trading as the Bank of Japan skirted a confrontation with the Ministry of Finance and moved to end their purchases of corporate bonds while the jobless rate fell for the second consecutive month on government hiring. |
| Technical Analysis Daily: GBP/USD
October 29, 2009 at 11:11 pm
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| | On Thursday Pound/Dollar traded with volatility. The Cable made a strong upward correctional climb from the 1.6339 bottom up to the 1.6596 top, closing the day at 1.6556. On the 3 hour chart the Sterling seems to try to remain within the bearish channel, as the bullish pressure is not... |
| Forex Technical Analytics
October 29, 2009 at 9:58 pm
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| | The pre-planned break-out variant for sales was implemented and the achievement of estimated targets is supported by relatively high bearish activity level, marked by OsMA trend indicator at the break of key supports. At the moment, considering ascending direction of indicator chart, in short term outlook, we can assume probability... |
| FX Technical Analysis
October 29, 2009 at 9:32 pm
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| | EURUSD Comment: Bouncing from Fibonacci support but certainly not out of the woods yet. Allow for another week or two of consolidation under this year's high. Meanwhile watch for signs of forming another interim base. |
| Forex and Dow Jones Recommended Levels
October 29, 2009 at 9:10 pm
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| | EUR/USD Today's support: - 1.4802 and 1.4771(main), where correction is possible. Break would give 1.4748, where correction also may be. Then follows 1.4722. Break of the latter would result in 1.4690. If a strong impulse, we would see 1.4672. Continuation will give 1.4648. |
| Daily Technical Outlook
October 29, 2009 at 8:58 pm
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| | Yesterday's bounce off support on the 1.4700 handle was an early warning signal that uptrend could resume and the decline to 1.4700 was corrective in nature. Resistance formed into the 1.4850 region by September's peak has limited yesterday's gains but the euro may resume yesterday's rally, a close above 1.4850... |
| Technical Analysis Daily: EUR/USD
October 29, 2009 at 8:18 pm
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| | On Thursday Euro/Dollar made a significant ascending movement, breaking up the important resistance 1.4815 level, reached a top at 1.4857, and closed the day at 1.4835. This may open possibility for further bullish impulse towards next objective 1.5000. However, as Euro is in the overbought zone, our expectations are bearish... |
| Forex Technical Update
October 29, 2009 at 8:15 pm
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| | Euro is in the correction mode falling to 1.4685 levels and rising again to 1.4850 levels yesterday evening due to amazing gdp data from US. 1.4850 remains a very important resistance for euro. If euro maintains above 1.4850 and 1.4920 levels today on a weekly basis. We would assume that... |
| Technical Analysis for Crosses
October 29, 2009 at 8:13 pm
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| | The EUR/JPY pair is also forming the same shape of the short term sequence as seen on the provided four-hour chart. The candlestick formation shows that 61.8% of the last decline from the fifth to our suggested [A] is negatively pressuring the pair. Hence we keep our intraday overview to... |
| Technical Analysis for Major Currencies
October 29, 2009 at 8:03 pm
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| | The Euro versus Dollar pair was able to reach the expected targets yesterday after rebounding from support levels near 1.4705. As we see in the above image, the pair is completing a bullish technical pattern with a neckline at 1.4860 where a breakout will take the pair to the upside... |
| Foreign Exchange Market Commentary
October 29, 2009 at 7:20 pm
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| | EUR/USD closed higher due to short covering on Thursday as it consolidated some of this week's decline. The high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI remain bearish signalling that sideways to lower prices are possible near-term. If it extends this... |
| The Daily Forecaster: USDCHF
October 29, 2009 at 7:14 pm
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| | Price fell just short of the 1.0293 ideal target and losses developed all the way to the 1.0167 support. If we are going to see any stronger reversal higher then we'll need a break of 1.0205 which will then test the 1.0240-61 pivot area. Breach extends gains above 1.0286 and... |
| A$, Major Top in Place (or at least close).....
October 29, 2009 at 7:10 pm
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| | In the Oct 23rd email on the a$, affirmed the long position (rebought on Aug 20th .8310) and despite trading above the key rising trendline/ceiling of the large rising wedge from Jan (then support), warned of near term concerns (and risk of throw-over, false break). The market did indeed reverse... |
| Market Morning Briefing
October 29, 2009 at 5:31 pm
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| | Sharp recovery in all 'risky' assets overnight, confirming that the fall earlier this week was mere profit-taking. The Euro (1.4845) and Aussie (0.9145) have potential to rise further. The recovery has been aided by the sharp rise in Dollar-Yen (91.30) which has come up from yesterday's low near 90.25 and... |
| Daily Technical Analysis
October 29, 2009 at 3:57 pm
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| | The trendline support on daily chart I showed you yesterday proved to be an important support at this phase as bearish pressure failed to push lower and EURUSD started to regain it's bullish momentum, topped at 1.4858 and closed at 1.4839. This fact should be seen as potential end to... |
| FX Technical Commentary
October 29, 2009 at 3:50 pm
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| | Euro 1.4850 Initial support at 1.4646 (Oct 6 low) followed by 1.4581 (Oct 5 low). Initial resistance is now located at 1.4859 (Oct 29 high) followed by 1.4927 (Oct 27 high) | | | 
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