| 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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| 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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