| Chart Of The Day: AUD/USD
October 5, 2009 at 6:01 am
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| | Price action on AUD/USD, a daily chart of which is shown, has continued to respect a long-term uptrend support line (extending from March lows) despite the recent U.S. dollar strengthening that has occurred against the major currencies. Yet another bounce up off this support line occurred on Friday (10/02/2009), and... |
| Eur/Usd at Support Line
October 5, 2009 at 2:44 am
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| | The Eur/Usd pair traded lower in the past week, away from our wave 5 top shown at the 1.4845 area, as expected. The market could technically break through the lower support line of a trading channel over the coming days, which would confirm that an impulse bullish count is completed.... |
| USDJPY: Broader Bias Remains Lower
October 5, 2009 at 2:17 am
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| | As USDJPY condition continues to deteriorate though printing a higher weekly close the past week, its broader medium to longer term declines activated at the 124.13 is on the verge of being triggered. The pair having bottomed out in Dec'08 and Jan'08 at 87.10 following its sell off the 110.66... |
| GBPUSD: Follows through Higher On Corrective Recovery
October 5, 2009 at 2:16 am
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| | A follow-through higher is now in progress having turned ahead of the 1.6768 level(Sept 28'09 high) on Friday last week. Although the pair still remains vulnerable to the downside following its declines off its YTD high at 1.7041, the present strength is set to correct that declines. This suggests that... |
| FX Thoughts for the Day
October 5, 2009 at 2:12 am
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| | After falling and recording a low of 0.8717 initially during the day, Aussie has risen slightly now. If it continues to trade above 0.8700, we might see a rise towards the significant Resistance region 0.8830-50 in the coming sessions/days. A break above this Resistance region (0.8830-50) might see 0.8920-50 on... |
| Currency Technical Report
October 5, 2009 at 12:46 am
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| | Non Farm Payrolls in US were disappointing and dollar rose at first, following the decline in equity markets, but the move was quickly reversed and first support levels were breached. The decline was limited below 1,4500 area, which is an important support and the reaction that followed, broke the... |
| Forex Technical Analysis
October 4, 2009 at 11:32 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 4, 2009 at 11:20 pm
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| | The estimated test of key supports was confirmed but relative bearish activity rise marked by OsMA trend indicator did not incline to the implementation of pre-planned buying positions. Therefore, at the moment, considering tendency of strengthening of activity sales against the background of unconvincing bullish resistance we can assume probability... |
| AUDUSD: Correction With Upside Bias
October 4, 2009 at 10:52 pm
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| | AUDUSD strengthened for eight months in a roll the past month building on its medium term uptrend triggered in late April'09. With this uptrend coming on the back of a base forming process in Oct'08 and Feb'09 and a subsequent break higher in late April'09 occurring, AUDUSD rallied to a... |
| Forex Technical Update
October 4, 2009 at 9:35 pm
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| | Euro had indecisive market on Friday. The pair attempted to push lower, bottomed at 1.4479 but found support at trendline support , bounced to the upside, topped at 1.4646 and closed at 1.4574. The fact that the trendline support still hold should keep the bullish scenario intact. On the upside... |
| Daily Technical Outlook
October 4, 2009 at 9:28 pm
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| | Not much has changed across the board while I've been on my annual vacation during the last two weeks. Current euro's pullback from 1.4845 seem corrective and the euro has found support on the median retracement level of September's upward move from 1.4190 to 1.4845 - at 1.4520. Short term... |
| Technical Analysis for Crosses
October 4, 2009 at 8:35 pm
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| | Inside the bigger bearish picture, some correctional movements are needed. Therefore the GBP/JPY has been capable of building a positive technical base that pushed it to close above 76.4% Fibonacci level. This correctional movement is awaited to re-test the broken neckline of our captured daily double top around 147.00 zones.... |
| FX Technical Analysis
October 4, 2009 at 8:31 pm
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| | EURUSD Comment: Testing the top of a neat little 'channel' though still capped by the 9-day moving average. Over the next week or two we shall have to allow for another downside test but the rally from the 1.4500 area Friday makes recent price action look increasingly like consolidation. Momentum... |
| Technical Analysis for Major Currencies
October 4, 2009 at 7:42 pm
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| | The 50% correction limited further declines for the pair to result in a rebound to the upside targeting the resistance level at 1.4670, which we think will cause volatility, as momentum indicators continue to pressure the pair to the downside. We believe the pair is to fluctuate between 1.4600 and... |
| The Daily Forecaster: EURJPY
October 4, 2009 at 6:32 pm
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| | The underlying MT direction is bearish while the daily bias is neutral. This may indicate price consolidation or an unclear wave structure that needs confirmation. Note key MT support & resistance levels that may break the MT trend or would suggest a resumption of the move lower. It is very... |
| Daily Technical Analysis
October 4, 2009 at 6:24 pm
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| | The EURUSD had a volatile but indecisive market on Friday. The pair attempted to push lower, bottomed at 1.4479 but found support at trendline support (orange), bounced to the upside, topped at 1.4646 and closed at 1.4574. The fact that the trendline support still hold should keep the bullish scenario... |
| Market Morning Briefing
October 4, 2009 at 5:38 pm
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| | The Euro (1.4640) and Aussie (0.8742) has risen from their respective Friday's low of 1.4480 and 0.8567 and are trading higher, thereby keeping up their overall uptrend intact. For Euro Support is seen at 1.4575 and if it holds we might see a rise towards 1.4730-50 today. Aussie might see... |
| Foreign Exchange Market Commentary
October 4, 2009 at 5:17 pm
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| | EUR/USD closed higher due to short covering on Friday but remains below the 20-day moving average crossing. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI remain bearish signalling that sideways to lower prices are possible near-term. If it extends this... | | | 
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