| Aussie Highs Impact by Positive Data and Gold
October 8, 2009 at 7:59 am
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| | The U.S. dollar is lower across the board driven by a higher stock market. In Asia the Nikkei closed higher by 0.34%, while the HIS (Hong Kong) rose more than 1%, influenced by previous positive Wall Street trade. The similar picture was shown in the European session, where the German... |
| Cable, Potential for Week or 2 of Sharp Gains...
October 8, 2009 at 4:45 am
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| | Nearer term, the market is consolidating from the late Sept low (and test of the neckline of the large head and shoulders near 1.5800), and as mentioned, there is scope for a few weeks of gains (potentially sharp) with the multi-month topping pattern. Note too that this fits the broader... |
| AUDUSD: Clears The 0.8950/0.9000 Levels
October 8, 2009 at 4:43 am
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| | Building on its Wednesday momentum, AUDUSD broke higher today through its key resistance levels at the 0.8950 and 0.9000 levels. Maintaining and closing above these levels will keep its medium term upside offensive intact and open the door for additional incursions towards the its Aug 03'08 high at 0.9344 level... |
| USD/JPY Consolidates Above Tuesday Lows
October 8, 2009 at 4:06 am
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| | The USD/JPY is retrenching above 10/27 and 9/28 lows as gold and the AUD/USD begin to top out. However, the GBP/USD and EUR/USD are strengthening today, normally a negative catalyst for the USD/JPY. The USD/JPY appears to be on a path of its own for right now since investors are... |
| GBP/USD Bounces Past 1.60 on Broad-Based Dollar Weakness
October 8, 2009 at 4:05 am
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| | The Cable finally decided to participate with the gold rush and broad-based weakness of the Dollar. The GBP/USD popped above the psychological 1.60 level and 10/6 highs. However, the Cable is buckling under the pressure of our 3rd tier downtrend line and 9/30 highs. The GBP/USD finally shook free of... |
| EUR/USD Trades Higher Ahead of ECB Statement
October 8, 2009 at 4:04 am
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| | The EUR/USD has taken another small leg up as traders await the ECB's monetary policy decision. Though most analysts are expecting the ECB to keep its policy unchanged, investors have been riding the EUR/USD higher in anticipation of future rate hikes. The RBA's ¼ point raise has negatively impacted the... |
| FX Thoughts for the Day
October 8, 2009 at 2:22 am
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| | Cable rose towards 1.6092 ahead of the interest rate announcement by the BoE. The Resistance at 1.6100 is an important Resistance going forward. This is the 100-MA Resistance on the 4H and also the Projected Max High for the day. The range mentioned in the morning has been broken given... |
| EURUSD: Eyes A Revisit Of The 1.4844 Level
October 8, 2009 at 2:10 am
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| | With EUR seen this morning reversing its Wednesday strength and trading above its Tuesday high (1.4761), its psycho level at 1.4800 remains the immediate target. A clean invalidation of there will set the stage for a return to its YTD high at 1.4844 level with a violation of that level... |
| GBPUSD: Recovery Target Seen Towards The 1.6124 Level
October 8, 2009 at 2:08 am
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| | Reversal of intra day gains on Wednesday and a follow through higher has seen the pair holding above its 200 ema currently at 1.6055 and increased the risk of a retarget of the 1.6124 level. Invalidating the latter will put the pair in position to head further higher towards the... |
| Forex Technical Analysis
October 8, 2009 at 12:40 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. |
| Currency Technical Report
October 8, 2009 at 12:17 am
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| | Yesterday's retracement reached 1,4650-70 area, where our targets and possible support levels, were set, and formed an upward reaction according to our scenario. Our first target remains at 1,4820, followed by 1,4840-50. |
| Technical Analysis Daily: USD/JPY
October 8, 2009 at 12:11 am
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| | Dollar/Yen failed to continue the upward correctional movement on Wednesday, after reaching a top at 89.36, went down to the 88.00 bottom, closing the day at 88.58. On the 3 hour chart the upward pressure couldn't hold prices over the 89.35 resistance before dropping. This fact confirms that the downward... |
| Daily FX Report
October 7, 2009 at 11:41 pm
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| | The CAD/CHF has been moving along a downward Fibonacci fan. As you can see the market entered the upper part of the fan and is trading on its highest level since the beginning of October. If the market doesn't cross the red resistance line and the upper line of the... |
| U.S. Dollar Could Continue To Drop As Euro Finds Strength
October 7, 2009 at 10:55 pm
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| | Jean-Claude Trichet needs governments to walk through the emergency exit first if he's going to be able to keep nurturing Europe's recovery with record low interest rates and cash injections. As an economic rebound allows policy makers to mull how they will withdraw stimulus measures, the European Central Bank President... |
| Technical Analysis Daily: GBP/USD
October 7, 2009 at 10:06 pm
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| | On Wednesday Pound/Dollar traded hesitantly, but with high volatility. On the 3 hour chart quotes climbed over 1.6000, reaching a peak at 1.5972, closing the day at 1.5921. Today the Cable continued climbing, as expected. Signals are bullish, but we need a coherent movement above 1.6070 to confirm extension of... |
| Forex Technical Analytics
October 7, 2009 at 8:53 pm
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| | The pre-planned short positions from key resistance range levels were implemented and the achievement of pre-planned targets is supported by current bearish activity cycle with the tendency for its strengthening. Therefore, considering the risk of another rate return to 1,0300/20 resistance levels the targets for opened short positions will be... |
| FX Technical Analysis
October 7, 2009 at 8:50 pm
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| | EURUSD Comment: Limping along behind the leaders as the US dollar weakens against a raft of major currencies. Momentum is zero and the Euro is certainly not overbought. Allow for hesitation at the 1.4750 area this morning, and mainly all day. Until the Euro manages a daily (and preferably weekly)... |
| Forex Technical Update
October 7, 2009 at 8:41 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... |
| Daily Technical Outlook
October 7, 2009 at 8:06 pm
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| | Upside is on focus as the euro recovered on yesterday after it found support at 1.4650. Intra-day uptrend is under development and price may stabilize above 1.4700 which is an important level formed by the weekly open of the last two weeks. Intra-day support is now seen at 1.4700 backed... |
| Technical Analysis for Crosses
October 7, 2009 at 7:47 pm
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| | Yesterday's positive closing that succeeded to form a bullish candlestick formation-secondary image- helps us to keep our intraday outlook to the upside on the intraday basis, , which is targeting the broken neckline of our captured daily double top around 147.00 zones. RSI 14- currently valued at 22.00- is preparing... |
| Technical Analysis for Major Currencies
October 7, 2009 at 7:39 pm
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| | The Euro versus Dollar pair declined yesterday to pass the suggested support level before rebounding back to the upside within an ascending channel as seen in the above image. We believe the pair is to gather the bullish momentum needed to extend gains which makes us believe the pair is... |
| Technical Analysis Daily: EUR/USD
October 7, 2009 at 7:27 pm
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| | Euro/Dollar made a moderate increasing movement on Wednesday, reaching a peak at 1.4736, than dropping down to the 1.4655 bottom, closing the day at 1.4688. On the 3 hour chart after hesitant movements around the resistance level, the currency pair got over the trend line, indicating that the accumulated bullish... |
| The Daily Forecaster: USDJPY
October 7, 2009 at 6:31 pm
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| | The underlying MT direction is bearish while the daily bias is bearish. Therefore the main risk is lower. Ensure that key resistances levels hold. Note key support levels that would suggest continuation of the bearish move. Consider confirming this with a bearish set up pattern in price or an indicator.... |
| Forex and Dow Jones Recommended Levels
October 7, 2009 at 6:01 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. |
| Market Morning Briefing
October 7, 2009 at 5:43 pm
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| | The Euro (1.4760) and Aussie (0.9021) continues trade strong on the upside. Aussie might see 0.9150 over the next few days and Euro might see 1.4850 on the upside. Dollar-Yen continues to trade lower and might target the previous low of 87.12 (Dec-08). |
| Daily Technical Analysis
October 7, 2009 at 4:29 pm
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| | The EURUSD was corrected lower yesterday but I am not surprise. In fact, I think we need this correction in order to continue the bullish scenario re-testing 1.4850 area. On my h1 chart below we can see that the price bounced from my 1.4695 - 1.4650 support area and now... |
| Foreign Exchange Market Commentary
October 7, 2009 at 4:22 pm
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| | EUR/USD closed lower on Wednesday and tested the 87% retracement level of the 2008-2009-rally crossing. The low-range close sets the stage for a steady to lower opening on Thursday. Stochastics and the RSI are turning bearish signalling that sideways to lower prices are possible near-term. If it extends the decline... | | | 
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