| Market Morning Briefing
October 6, 2009 at 5:39 pm
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| | The Aussie (0.8885) was King yesterday after the trailblazing rate hike (25bp) and has seen a high near 0.8920 today. We may target 0.9130 over the next couple of weeks. The Euro (1.4685) is also bullish, although a little less so than the Aussie. We see decent chances of rise... |
| Daily Technical Analysis
October 6, 2009 at 4:55 pm
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| | The EURUSD continued it's bullish momentum yesterday, topped at 1.4761 and closed at 1.4721. On h1 chart below we can see that 1.4671 area is an important intermediate resistance at this phase. The bias is neutral in nearest term and we might see some downside correction today, but the bullish... |
| Foreign Exchange Market Commentary
October 6, 2009 at 4:13 pm
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| | EUR/USD closed higher on Tuesday as it extends the rally off last Friday's low. The mid-range close sets the stage for a steady opening on Wednesday. Stochastics and the RSI are turning bullish signalling that sideways to higher prices are possible near-term. If it extends this week's rally, September's high... |
| FX Technical Commentary
October 6, 2009 at 4:00 pm
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| | Euro 1.4710 Initial support at 1.4581 (Oct 5 low) followed by 1.4467 (Oct 2low). Initial resistance is now located at 1.4844 (Sept 23 high) followed by 1.4908 (August 22 '08 high) |
| Forex and Dow Jones Recommended Levels
October 6, 2009 at 3:53 pm
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| | EUR/USD Today's support: - 1.4670 and 1.4626(main), where correction is possible. Break would give 1.4602, where correction also may be. Then follows 1.4569. Break of the latter would result in 1.4532. If a strong impulse, we would see 1.4490. Continuation will give 1.4476. |
| USD/JPY Sinks Towards September Lows
October 6, 2009 at 7:38 am
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| | The USD/JPY is participating in today's broad-based weakness of the Dollar following the RBA's decision to raise its benchmark rate by 25 basis points. Though an incremental increase, the RBA's policy delivered a monetary shock and investors are beginning to trade with more of an exit-strategy mentality. The exit from... |
| GBP/USD Consolidates Around our 2nd Tier Uptrend Line
October 6, 2009 at 7:37 am
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| | The Cable is consolidating along our important 2nd tier uptrend line as the currency pair battles with the psychological 1.60 level. Meanwhile, the GBP/USD has managed to set higher lows, (10/6, 10/2, 9/28), a positive technical development for the uptrend. However, the Cable is still trading at a comparative disadvantage... |
| EUR/USD Strengthens Towards September Highs
October 6, 2009 at 7:36 am
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| | The Euro's relative strength is paying dividends today as investors exit the Dollar following a surprise 25 basis point rate hike from the RBA. We recognize broad-based weakness in the Dollar as a result, particularly against the Aussie and Kiwi. Additionally, gold has rocketed to new all-time highs, a negative... |
| Chart Of The Day: EUR/GBP
October 6, 2009 at 7:12 am
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| | As shown on the EUR/GBP daily chart, after making a minor bearish correction in the current steep uptrend, the euro has begun to resume its dominating position over the British pound. Price is currently approaching the 0.9300 high (almost a 6-month high) that was reached early last week with a... |
| EURUSD: Recovery Strength Eyes The 1.4844 Level
October 6, 2009 at 3:37 am
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| | Having halted its nearer term corrective pullbacks at the1.4479 level and triggered an upside strength, EUR was seen building on that gain today pushing through its Sept 30'09 high at 1.4672. With this development price action is now expected to develop towards its YTD high at 1.4844 with a decisive... |
| AUDUSD: Breaks The 0.8857 level, Resumes Its Medium Term Uptrend
October 6, 2009 at 3:36 am
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| | The pair has broken the 0.8857 level intra and has resumed its medium term uptrend with the next upside target standing at its Aug 10'08 high at 0.8950 with a clean penetration of there allowing for further upside targeting the 0.9000 level, its big psycho level. Its daily RSI continues... |
| Dollar Index Critical Area at 75.83, Aud/Usd Psychological Level at 0.9000
October 6, 2009 at 2:11 am
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| | Prices on the dollar index chart were recently testing the upper resistance line of a trading channel, where a possible long break-out will confirm that wave V of a black C is done. However, this is not the case yet, and as such move into much deeper levels is still... |
| FX Thoughts for the Day
October 6, 2009 at 2:06 am
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| | Cable rose towards 1.6047 only to be sold sharply. Small upmoves are being followed with sharper slides. The Supports and Resistances mentioned in the morning continues to look good to be honoured going forward. The 55-MA on the 8H at 1.6183 could be the max that the pair may scale... |
| Technical Analysis Daily: USD/JPY
October 6, 2009 at 12:11 am
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| | Yesterday Dollar/Yen made a decreasing attempt, reaching a bottom at 89.22, where the bearish impulse was stopped, and the currency couple bounced sharply upwards to 89.96, closing the day at 89.53. Today Dollar continued to weaken against the Yen, as expected, down to 88.86. On the 3 hour chart USD/JPY... |
| Currency Technical Report
October 6, 2009 at 12:01 am
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| | Retracements from 1,4650-70 are, were limited at 1,4600 according to our upward scenario, and the upward break that followed confirmed the short term downtrend reversal. Buyers seem to dominate and next target is likely to be at previous lows or even higher. First important resistance emerges at 1,4720-30, followed by... |
| Forex Technical Analysis
October 5, 2009 at 11:58 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. |
| Daily FX Report
October 5, 2009 at 10:53 pm
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| | Since the middle of August, the AUDCHF has been gaining close to an upward trend line. After touching the green support for the fourth time the market touched the middle Bollinger Band and is trading close to the resistance level around 0.9100. If the pair goes through this level, it... |
| Technical Analysis Daily: GBP/USD
October 5, 2009 at 10:09 pm
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| | Yesterday Pound/Dollar traded hesitantly. The Cable increased up to the 1.6020 top, from where it started dropping down to the 1.5904 bottom, closing the day at 1.5931. Today the Sterling continued recovering, as expected. On the 3 hour chart after a break of the support at 1.6050, which has now... |
| Forex Technical Update
October 5, 2009 at 9:31 pm
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| | EURO had a moderate bullish momentum yesterday, topped at 1.4668 and closed at 1.4648. The pair is now trading above the trendline resistance indicating bullish pressure still able to maintain it's momentum. Technically in nearest term the bias is bullish testing 1.4720 – 1.4850 area. However please note that in... |
| Forex Technical Analytics
October 5, 2009 at 8:57 pm
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| | The pre-planned short positions from key resistance range levels were implemented with the achievement of main estimated targets. OsMA trend indicator having marked the tendency of bullish activity fall considering the chosen strategy gives grounds for sales priorities of planning of trading operations for today. On the assumption of it as... |
| FX Technical Analysis
October 5, 2009 at 8:45 pm
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| | EURUSD Comment: Breaking above the top of a neat little 'channel' and the 9-day moving average as the US dollar weakens against a raft of major currencies. Momentum is zero and the Euro is a long way from being overbought so will not hamper rallies. However, this does mean that... |
| Technical Analysis for Major Currencies
October 5, 2009 at 8:35 pm
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| | The Euro versus Dollar pair was able to breach the neckline for the bullish technical pattern, pointed out yesterday, to surge higher in an attempt to reach the initial target near 1.4845. We may witness slight volatility, due to the negative pressured from momentum indicators that may result in a... |
| Technical Analysis for Crosses
October 5, 2009 at 8:31 pm
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| | The hourly piercing pattern that's appearing on the subsidiary image shows that a bullish correctional wave is still highly anticipated on the intraday basis, pushing the GBP/JPY pair to re-test the broken neckline of our captured daily double top around 147.00 zones. RSI 14 is still moving inside oversold areas... |
| Daily Technical Outlook
October 5, 2009 at 7:53 pm
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| | The euro recovered on yesterday and continued to climb higher during today's Asian trading session. Upside remains favored and a daily close above 1.4700 would confirm the end of the corrective cycle from 1.4845 to 1.4480. Intra-day sentiment is also positive and won't change as long as 1.4650/70 will provide... |
| Technical Analysis Daily: EUR/USD
October 5, 2009 at 7:12 pm
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| | Euro/Dollar made a moderately increasing movement on Monday. The currency couple attempted to rise, reaching a peak at 1.4667, where the bullish impulse was limited, and the currency pair closed the day at 1.4647. On the 3 hour chart the descending channel was broken upwards, and the upper limit now... |
| The Daily Forecaster: USDCHF
October 5, 2009 at 6:52 pm
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| | The underlying MT direction is neutral while the daily bias is neutral. Therefore it may be better to sit out of the market or trade breaks when supported by bullish or bearish set up patterns. It is advisable to study both lower and higher time frame charts for evidence to... |
| Foreign Exchange Market Commentary
October 5, 2009 at 5:47 pm
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| | EUR/USD closed higher on Monday and above the 10-day moving average crossing. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are turning neutral hinting that a short-term low might be in or is near. Multiple closes above the 10-day moving... |
| Market Morning Briefing
October 5, 2009 at 5:38 pm
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| | The Euro (1.4692) and Aussie (0.8766) are continuing with their uptrend and are trading higher. Intraday Support is seen at 1.4630 for Euro and Aussie might test the Resistance region 0.8830-50 today. Dollar-Yen (89.10) has fallen and is trading near 89, thereby keeping up the downtrend intact. Support is seen... |
| FX Technical Commentary
October 5, 2009 at 4:56 pm
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| | Euro 1.4664 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) |
| Daily Technical Analysis
October 5, 2009 at 3:50 pm
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| | The EURUSD had a moderate bullish momentum yesterday, topped at 1.4668 and closed at 1.4648. On h4 chart below we can see that after struggle around the minor trendline resistance (red) where price cross up and down, the pair is now traded above the trendline resistance indicating bullish pressure still... | | | 
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