| Look at the Commodities for Usd/Cad Set-up
October 7, 2009 at 7:37 am
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| | During the previous session of trade equities moved higher for a second day in a row on a global average of 1.5%. As expected, the European session was also trading higher at the start of the session, when the German DAX hit the 5690 highs after the earlier open price... |
| Chart Of The Day: GBP/USD
October 7, 2009 at 5:07 am
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| | Price action on GBP/USD, a daily chart of which is shown, has continued in its relatively tight consolidation with a bearish bias after breaking down below a rough, expanded head & shoulders pattern. The current consolidation can also be seen as a rough inverted flag/pennant formation. The key downside support... |
| GBPUSD: Hesitating With Eyes On The Downside
October 7, 2009 at 4:54 am
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| | The pair's 200 ema currently at 1.6057 continues to provide resistance turning off GBP on Tuesday to close lower at 1.5875. It was seen weakening in early trading today. Downside target starts at the 1.5768 level initially with a loss of there turning focus lower towards the 1.5500 level, its... |
| FX Thoughts for the Day
October 7, 2009 at 2:06 am
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| | Cable has continued to be ranged today. The 55-MA on the 4H chart is showing signs of flattening which is a good indicator of a ranged consolidation over the next few sessions. The range could be between 1.5820-1.6040. If it continues to consolidate, we might have to stop looking towards... |
| EURUSD: Retarget Of The 1.4844 Level Remains On Course
October 7, 2009 at 1:47 am
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| | With a third-day of recovery seen on Tuesday following a halt of declines at the 1.4479 level and its subsequent upmove, The pair's outlook remains higher though seen hesitating in early trading today. We expect the EUR to head to the upside towards its YTD high at 1.4844 level where... |
| AUDUSD: Remains On The Offensive, Targets The 0.9000 Level
October 7, 2009 at 1:46 am
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| | With a firm hold above the 0.8857 level seen following its sharp rally on Tuesday, risk of further upside gains is now likely towards 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... |
| Currency Technical Report
October 7, 2009 at 12:52 am
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| | Euro rose yesterday for a third day in a row, due to the general dollar weakness. The upward trend line that is clear in the daily chart, was confirmed again and the upward reaction that is currently being formed is likely to lead euro to previous tops at 1,4830-50.. |
| Technical Analysis Daily: USD/JPY
October 7, 2009 at 12:11 am
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| | Although insignificant, Dollar/Yen continued making downward movements within the descending channel on Tuesday. On the 3 hour chart quotes corrected upwards and tested the upper limit and resistance at 89.35, indicating a fight between bulls and bears. We don't expect bullish outlook for now, as the currency couple is not... |
| Forex Technical Analysis
October 6, 2009 at 11:37 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 6, 2009 at 10:55 pm
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| | After pulling back from the middle pivot point at 1.6788, the EURAUD crossed the first support at 1.6571 and reached the support level from October 1st around 1.6510. If the pair breaks the 1.6510 support, it could make further losses towards the second pivot support. If not, it may recover... |
| Technical Analysis Daily: GBP/USD
October 6, 2009 at 10:05 pm
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| | Pound/Dollar traded with volatility on Tuesday. On the 3 hour chart Cable climbed above 1.6040, reaching a peak at 1.6043, where the upward impulse was stopped, and quotes tumbled sharply down to yesterday's bottom 1.5878, closing the day at 1.5916. Sterling is still trading under the upper limit of the... |
| Forex Technical Update
October 6, 2009 at 9:36 pm
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| | EURO had a moderate bullish momentum yesterday . 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 longer term perspective, the rejection to... |
| FX Technical Analysis
October 6, 2009 at 9:25 pm
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| | EURUSD Comment: Closing 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 certainly not overbought. A little more of the same today. |
| Forex Technical Analytics
October 6, 2009 at 9:07 pm
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| | The estimated test of key resistance range levels for the implementation of pre-planned short positions has not been confirmed and activity parity of both parties marked by OsMA trend indicator as the result of previous trading day does not clarify the choice of planning priorities for today. On the assumption... |
| Currency Pair Daily Forecasts
October 6, 2009 at 8:32 pm
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| | EUR/USD-market strategy can be a buy from the level 1.4697$ To strengthen our analysis; we use many other indicators, starting with MACD (Moving Averages convergence divergence); we notice the MACD lines in a bullish direction and crossing above the zero line. In order to find the power of the market,... |
| GBP/USD Forms Consolidating Triangle
October 6, 2009 at 8:25 pm
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| | The last half of September has seen a sharp decline in the GBP/USD pair, falling from a high around 1.6715 to a recent low around 1.5768. However, despite this recent decline of nearly 1,000 pips, the pair has begun to consolidate and has formed a consolidating triangle formation. |
| Daily Technical Outlook
October 6, 2009 at 8:15 pm
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| | The euro continues to achieve higher highs on the current recovery process, aiming towards the recent top side at 1.4845. Short-term sentiment is slightly bullish but the intra-day studies show minor signs of weakness. In case of an extended pullback below overnight's low at 1.4683, look for support into the... |
| Technical Analysis for Crosses
October 6, 2009 at 8:10 pm
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| | The GBP/JPY pair is trapped in a narrow range, preparing for the expected bullish action, which is targeting the broken neckline of our captured daily double top around 147.00 zones. A new sign appeared on AROON up which is positively attacking the value of 30.00 may help the pair to... |
| Technical Analysis for Major Currencies
October 6, 2009 at 7:40 pm
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| | The Euro versus Dollar traded calmly since yesterday, with slight tendency to the downside that has taken the pair to the mentioned support at 1.4690. The stochastic indicator is nearing an oversold area, which may result in a rebound to the upside where we expect the pair is to incline... |
| Technical Analysis Daily: EUR/USD
October 6, 2009 at 7:10 pm
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| | On Tuesday Euro/Dollar traded moderately upwards. The currency couple rose up to the 1.4754 top, where it found strong resistance, and closed the day at 1.4719. The current ascending scenario remains intact for now and our expectations are for rising Euro in the short term. If the above 1.4755 resistance... |
| The Daily Forecaster: GBPUSD
October 6, 2009 at 7:08 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... | | | 
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