| Bye Bye, Or Buy Buy Dollar Index?
October 13, 2009 at 7:54 am
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| | The 4 hour chart views continue to reflect a market that has pushed the dollar to support, but seems unable to make the next push lower on the dollar index. That may be due to the fact that a weaker dollar draws in long speculative interest into oil and gold... |
| USD/JPY Edges Lower After Encountering 90 and our 2nd Tier
October 13, 2009 at 6:00 am
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| | The USD/JPY is drifting back beneath the highly psychological 90 level after being deflected by our 2nd tier downtrend line. We cautioned investors not to become overly optimistic concerning Friday's rally due to the strength of these two technical barriers. Friday's bounce was based off of broad-based oversold conditions for... |
| GBP/USD Bounces from Intraday Lows on Oversold Conditions
October 13, 2009 at 5:58 am
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| | The Cable is recovering from intraday losses after experiencing a key pullback since late Friday. The GBP/USD sank below our important 1st tier uptrend line and September lows, setting itself up for another leg down over the near-term. Ironically, the EUR/USD eclipsed its September highs today, signifying the contrasting paths... |
| EUR/USD Pops Past September Highs
October 13, 2009 at 5:57 am
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| | The EUR/USD has broken through our 3rd tier downtrend line and consequently September highs. Though the currency pair is trading off of intraday highs, today's move will likely prove to be an important step for the beginning of a new leg up. Our 3rd tier is the final foreseeable downtrend... |
| EURUSD: Strenghth Still Targeting The 1.4844 Level
October 13, 2009 at 2:38 am
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| | Strength for a retarget of the 1.4844 level remains in force following the pair's rally pushing to a higher close of 1.4788 on Monday. Although seen hesitating in early trading today, we still see risk towards the 1.4844 level with a loss of there resuming its MT uptrend towards the... |
| USDJPY: Shooting Star Candle Halts Recovery
October 13, 2009 at 2:37 am
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| | The pair reversed its intra day gains and closed lower on Monday printing a shooting star candle(top reversal signal). With that seen, a follow through lower now seen is expected to confirm the efficacy of that candle pattern suggesting lower prices towards the 88.00 level where an invalidation will turn... |
| FX Thoughts for the Day
October 13, 2009 at 1:58 am
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| | Aussie has broken and is trading slightly higher above the Resistance region 0.9080-96. As mentioned earlier, if it continues to trade above 0.9100, we might see a rise towards 0.9200-30 over the next few days. Any sharp downmove is not looking likely as the overall sentiment remains bullish. However, a... |
| Technical Analysis Daily: USD/JPY
October 13, 2009 at 12:05 am
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| | Dollar/Yen made a significant bullish movement on Monday. On the 3 hour chart the 90.00 resistance was convincingly broken up, indicating further potential upward correction with possible test of 90.90. Break above this level may lead to strengthening of the US Dollar against the Yen with objectives towards 91.50, followed... |
| Forex Technical Analysis
October 12, 2009 at 11:15 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 12, 2009 at 10:44 pm
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| | Since October, the EUR/JPY could recover from its bearish trend and has been started a bullish phase. Recently, the currency pair touched its Pivot Point at 133.18, but the resistance was strong enough so that the prices rebounded and it seems that the EUR will start a bearish trend. Furthermore... |
| Forex and Dow Jones Recommended Levels
October 12, 2009 at 10:39 pm
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| | EUR/USD Today's support: - 1.4714, 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. |
| Technical Analysis Daily: GBP/USD
October 12, 2009 at 10:05 pm
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| | On Monday Pound/Dollar made a significant bearish movement. On the 3 hour chart there is a hedging formation, indicating continuation of the bearish trend. After the consolidation and some insignificant upward correction, the Cable broke the support line at 1.5800, pointing for a descending scenario. Our expectations are for bearish... |
| Euro In Trouble As U.S. Dollar Looking To Recover
October 12, 2009 at 9:51 pm
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| | The U.S. dollar will strengthen against the euro and commodity-backed currencies by less than previously estimated over the next three months, UBS AG said, revising earlier forecasts. The greenback, which has dropped against all 16 of its most-active counterparts this year, will rise to $1.40 against the euro in three... |
| Technical Analysis for Major Currencies
October 12, 2009 at 8:57 pm
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| | The euro versus dollar failed to stabilize above 1.4780, touching 1.4815 which is considered minor resistance levels that had forced the pair to set bearish candlestick formation; where on the chart above we can see that this minor resistance has become vital after the pair set three peaks upon it.... |
| Forex Technical Analytics
October 12, 2009 at 8:45 pm
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| | Short positions opened and preserved before had positive result of overlap of minimal estimated target. OsMA trend indicator having marked the priority of bearish activity development gives grounds to suppose sales priority of planning of trading operations for today. On the assumption of it, as well as of bullish position... |
| FX Technical Analysis
October 12, 2009 at 8:28 pm
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| | EURUSD Comment: Better bid than we had expected as we consolidate above the 9-day moving average. We shall continue to pencil in another week or two of consolidation which would allow the Ichimoku 'cloud' and trendline support to move closer to the Euro. Until the Euro manages a daily (and... |
| Daily Technical Outlook
October 12, 2009 at 8:12 pm
|
| | Although downside is highly favored and downtrend is quite strong, there are some signs of dollar's recovery which may extend further above the 90.00 mark. As seen on the chart below, a breakout of the falling trend line coming from97.75 is underway - 90.80 being the first upside objective above... |
| Technical Analysis for Crosses
October 12, 2009 at 8:08 pm
|
| | The pair is still supported above the key support level over shot term basis of 76.4% Fibonacci at 141.70 while the RSI 14 -currently valued at 27.00- is still in need for a relief. Hence, we keep our overview to the upside to activate the re-testing action for the neckline... |
| Technical Analysis Daily: EUR/USD
October 12, 2009 at 7:07 pm
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| | Euro/Dollar made downward correction on Monday, reaching a bottom at 1.4680, from where it sharply rose up to the 1.4680 top, closing the day at 1.4771. We may see another correction before the currency couple starts climbing again towards next objective 1.4905. On the 1 hour chart quotes jumped from... |
| The Daily Forecaster: GBPJPY
October 12, 2009 at 6:59 pm
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| | Gains were seen as expected on Friday which stalled within the 143.11-43 area. Losses from here appear to be a little too deep to expect a recovery and thus we should be cautious with any bullish stance. There is support in the 140.72-141.04 area and I feel this should provide... |
| Foreign Exchange Market Commentary
October 12, 2009 at 6:16 pm
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| | EUR/USD closed higher due to short covering on Monday as it consolidates some of last week's decline. The mid range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI remain bullish signalling that sideways to higher prices are possible near-term. If it extends... |
| Market Morning Briefing
October 12, 2009 at 6:10 pm
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| | The Euro (1.4780) has risen from yesterdays' low of 1.4677 and is trading higher now, thereby keeping up the overall bullish sentiment intact. Dollar-Yen (89.82) continues to remain bearish. It has fallen after testing the Resistance at 90.50 as expected yesterday. Euro-Yen (132.74) Cross might test the Resistance at 133.50... |
| Daily Technical Analysis
October 12, 2009 at 4:10 pm
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| | The EURUSD had had a bullish momentum yesterday, topped at 1.4812 and closed at 1.4776. Although the nearest term bias should remains bullish, actually my medium term outlook remains neutral as the pair still move below 1.4850 key resistance area. My yesterday's technical strategy worked fine. As you can see... | | | 
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| Dollar Index Targets 75.00 On S&P 1075 Break
October 12, 2009 at 2:33 am
|
| | S&P futures are trading significantly higher at the start of the new week and are higher by close to 1%, with current prices around the 1075 top from September 09. The break higher on equities comes on a day of disjointed order flows because of the bank holidays in Japan,... |
| GBPUSD: On The Verge Of Taking Out The 1.5768 Level
October 12, 2009 at 2:21 am
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| | The pair was seen declining further lower in early trading today testing below the 1.5768 level and suggesting further weakness of an eventual a loss of the mentioned level. We have highlighted this weakness in the short term in our weekly analysis and a loss of the 1.5768 level will... |
| EURGBP: Breaks The 0.9299 Level, Resumes Its ST Uptrend
October 12, 2009 at 2:20 am
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| | A follow-through higher on the cross's upmove off the 0.9076 level saw it rallying and decisively violating the 0.9299 level (Sept 27'09 high) today. With the resumption of its short term uptrend activated, risk remains higher for further strength towards the 0.9499 level, its Mar'09 high with a turn above... |
| FX Thoughts for the Day
October 12, 2009 at 2:15 am
|
| | Cable fell sharply after rising towards 1.5880 during the day. Though it has fallen even before testing the Resistance at 1.5920-60, but chances of a fresh rise towards 1.5920-60 if not higher may be seen before an eventual dip towards 1.56-55 over the next few days. The S-H-S on the... |
| Daily FX Report
October 11, 2009 at 10:52 pm
|
| | Since the beginning of September, the GBP has been trading in a bearish trend against the USD. Now, the GBP touches its support line at 1.5825 and it seems that the support is strong enough. When the currency pair reached its support two times before, it could recover. Also the... |
| Forex Technical Analysis
October 11, 2009 at 10:43 pm
|
| | 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 11, 2009 at 9:37 pm
|
| | The pre-planned short positions were implemented and the achievement of estimated targets is supported by rate dullness according to OsMA trend indicator version and the expectations of confirmative bearish activity development. Therefore, for opened sales, as it was before, the targets will be 1,0260/80, 1,0200/20, 1,0160/80 and (or) further break-out... |
| FX Technical Analysis
October 11, 2009 at 9:19 pm
|
| | EURUSD Comment: Stuck between this year's high at 1.4845 (and a potential small 'double top') and above the 9-day moving average as weaker currencies are hit first. We shall continue to pencil in another week or two of consolidation which would allow the Ichimoku 'cloud' and trendline support to move... |
| Forex Technical Update
October 11, 2009 at 9:05 pm
|
| | 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... |
| Technical Analysis for Major Currencies
October 11, 2009 at 8:46 pm
|
| | The euro versus dollar pressured the minor support levels breaching the minor ascending channel to reverse and head towards the minor support around 1.4675. This constant pressure makes us expect an intraday move to the downside, targeting first 1.4595 and then 1.4500; note that the Stochastic has entered oversold areas... |
| Technical Analysis for Crosses
October 11, 2009 at 8:21 pm
|
| | The pair inclined aggressively, activating the RSI 14 positive sign, signaling that the previous discussed upside corrective rally towards the broken neckline of our captured daily double top around 147.00 has been activated. The secondary image shows a bullish candlestick formation above the key support level of 141.70 that argues... |
| Daily Technical Outlook
October 11, 2009 at 8:16 pm
|
| | Short term sentiment remains positive despite Friday's minor pullback to 1.4675 but the intra-day charts show signs of weakness since falling below 1.4750 support. Therefore, a break above 1.4750/70 is needed to re-initiate the intra-day uptrend. On a potential resume of the uptrend, objectives may be set around 1.4800 and... |
| Foreign Exchange Market Commentary
October 11, 2009 at 8:04 pm
|
| | EUR/USD closed lower due to profit taking on Friday as it consolidated some of this week's rally. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI remain bullish signalling that sideways to higher prices are possible near-term. If it extends this... |
| Market Morning Briefing
October 11, 2009 at 5:38 pm
|
| | The Euro (1.4705) is continuing to trade lower and might test the Support region 1.4650-30. Dollar-Yen (90.08) has risen from Friday's low of 88.64 and might test the Resistance at 90.50 if it continues to trade higher. Euro-Yen (132.47) Cross is also trading higher and might see a rise towards... |
| Forex and Dow Jones Recommended Levels
October 11, 2009 at 5:19 pm
|
| | 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. |
| Daily Technical Analysis
October 11, 2009 at 4:51 pm
|
| | The EURUSD made another downside correction on Friday. On h1 chart below we can see that the pair attempted to push lower, slipped below 1.4688 support area (38.2% Fibo retracement of 1.4479 - 1.4817) but so far further downside pressure was limited . The bias is neutral in nearest term.... | | | 
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| FX Technical Commentary
October 11, 2009 at 3:48 pm
|
| | Euro 1.4736 Initial support at 1.4646 (Oct 6 low) followed by 1.4481 (Oct 2 low). Initial resistance is now located at 1.4844 (Sept 23 high) followed by 1.4908 (August 22 '08 high) |
| Usd/Jpy Support
October 11, 2009 at 8:52 am
|
| | Yen prices are trading higher after the recent breakout through the upper line of an ending diagonal pattern of a black wave V). The latest bottom was made at 88.00, where wave V) may already be completed, which means that bulls may be here in the near-term. If this is... | | | 
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| Chart Of The Day: USD/CAD
October 9, 2009 at 5:36 am
|
| | Price action on USD/CAD, a daily chart of which is shown, has broken down decisively below its previous consolidation, continuing the downtrend in the pair that has been in place since the long-term high was reached in early March. This occurs in an environment where the U.S. dollar has been... | | |  |
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| Chart Of The Day: USD/CAD
October 9, 2009 at 5:36 am
|
| | Price action on USD/CAD, a daily chart of which is shown, has broken down decisively below its previous consolidation, continuing the downtrend in the pair that has been in place since the long-term high was reached in early March. This occurs in an environment where the U.S. dollar has been... |
| EUR/USD Settles above Thursday Lows Following French IP
October 9, 2009 at 4:55 am
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| | The EUR/USD is settling above Thursday lows and our 3rd tier uptrend line after pulling back from Thursday highs. Much better than expected French Industrial Production data is helping buoy the Euro after investors decided to lock in profits earlier. The outperformance of French versus German econ data stems from... |
| GBP/USD Heads Below 1.60 After Failing to Cross 9/30 Highs
October 9, 2009 at 4:54 am
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| | The Cable is moving lower today at a brisk pace after failing to eclipse 9/30 highs and our 4th tier downtrend line. The Cable has proceeded to pullback towards 10/7 lows as the FX markets experience a broad-based appreciation of the Dollar. The GBP/USD's inability to climb past the aforementioned... |
| USD/JPY Pops Amid Broad-Based Dollar Strength
October 9, 2009 at 4:51 am
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| | The USD/JPY is popping nicely above October lows after Core Machinery Orders data came in lighter than analyst expectations. Broad-based Dollar strength is only helping the USD/JPY head higher as we recognize pullbacks in both the GBP/USD and EUR/USD. Hence, investors are still a bit cautious despite the optimism resulting... |
| $ Waves Goodbye To Support
October 9, 2009 at 3:32 am
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| | The U.S. dollar was higher against the majors during the Asia session, when the China advanced for almost 5%, Nikkei for less than 2% while HSI finished the session around the zero. The main reason for China gains was in the U.S. stock market rally that has started already on... |
| FX Thoughts for the Day
October 9, 2009 at 2:21 am
|
| | Cable has fallen sharply during the day. It has immediate Support at 1.5916-10 and Resistance in the region 1.6000-30. If this Resistance is honoured, expect a fall towards 1.5850-30 during the US session. The Projected Max High and Low for the day is at 1.6088 and 1.5916 respectively. In the... |
| GBPUSD: Price Stall To Target The 1.5768 Level
October 9, 2009 at 1:58 am
|
| | The pair's recovery higher has stalled at the 1.6118 level and it is now turning back lower in early trading today. With its Thursday gains now being wiped out, GBP is presently facing downside pressure towards the 1.5768 level with a loss of there turning focus lower to the 1.5500... |
| EURUSD: Backs Off The 1.4816 Level
October 9, 2009 at 1:57 am
|
| | Weakness in early trading today has seen the pair taking back part of recent recovery after trading higher to close at 1.4772 level on Thursday. That leaves immediate risk to the downside with its Oct 07'09 low at 1.4649 level being the next support. A violation of that level will... |
| Technical Analysis Daily: USD/JPY
October 9, 2009 at 12:21 am
|
| | Dollar/Yen traded hesitantly on Thursday. After reaching the 88.16 bottom, the currency couple started rising up to the 88.65 top, closing the day at 88.38. This morning climbing continued towards the upper limit of the downward channel at 89.35, which for now does a good job holding bullish movements. If... |
| Daily FX Report
October 8, 2009 at 11:30 pm
|
| | The weak USD has also lost against the JPY. It already tried since the end of September to break the lower line of the Fibonacci fan. After it touched the 88.25 support level twice, it pulled back and reached repeatedly the lower line of the fan. According to the MACD... |
| Currency Technical Report
October 8, 2009 at 11:25 pm
|
| | Euro moved towards our first targets at 1,4800-20, confirming our basic scenario, and then formed a correction, testing 1.4700 area as support. A sideways formation between 1,4600-50 and 1,4800-50 area, would be a possible scenario. We should also mention that gold, crude oil and stock indices have also reached important... |
| Foreign Exchange Market Commentary
October 8, 2009 at 10:58 pm
|
| | EUR/USD closed higher on Thursday as it extends this week's rally. The high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI are bullish signalling that sideways to higher prices are possible near-term. If it extends this week's rally, September's high crossing is... |
| USD Looking Dominant Against Ineffective Yen
October 8, 2009 at 10:49 pm
|
| | The dollar rose the most in two months against the yen as Federal Reserve Chairman Ben S. Bernanke said the bank is ready to tighten monetary policy once the economy improves, increasing the appeal of U.S. assets. The yen dropped against 15 of its 16 most-traded counterparts after Japan's machinery... |
| Technical Analysis Daily: GBP/USD
October 8, 2009 at 10:05 pm
|
| | Pound/Dollar attempt to decrease yesterday, reaching a bottom at 1.5950, from which point the Cable rose sharply to the 1.6111 peak, closing the day at 1.6068. Last week's volatile but indecisive market indicates consolidation, reflected in the formed triangle on the 3 hour chart. Our preferably scenario for now is... |
| Forex Technical Analysis
October 8, 2009 at 9:54 pm
|
| | 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 8, 2009 at 9:06 pm
|
| | Short positions opened and saved before had positive result of overlap of minimal estimated target. OsMA trend indicator, having marked relative activity rise of both parties does not clarify the choice of planning priorities for today. Therefore, keeping to the suppositions of rate range movement and considering bullish development incompleteness... |
| Forex Technical Update
October 8, 2009 at 8:58 pm
|
| | 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 8, 2009 at 8:33 pm
|
| | EURUSD Comment: Stalling just ahead of this year's high at 1.4845 and a potential small 'double top'. This suggests another week or two of consolidation which would allow the Ichimoku 'cloud' and trendline support to move closer to the Euro. Until the Euro manages a daily (and preferably weekly) close... |
| Daily Technical Outlook
October 8, 2009 at 8:12 pm
|
| | Cable managed to recover some of its recent gains but the 1.6100-1.6130 resistance region has limited yesterday's gains. Current pullback into the 1.6000 zone could be corrective only, therefore uptrend may resume. A break above 1.6100/30 would confirm the short-term uptrend's resumption so keep an eye on that region. Current... |
| Technical Analysis for Crosses
October 8, 2009 at 8:07 pm
|
| | The pair inclined aggressively, approaching the detected technical target of yesterday's analysis-check it here-. Thus; the previous discussed upside corrective rally towards the broken neckline of our captured daily double top around 147.00 zones has been activated. The daily candlestick formation in addition to the positive sign appearing on RSI... |
| Technical Analysis for Major Currencies
October 8, 2009 at 7:57 pm
|
| | The Euro versus the Dollar neared our initial suggested target at 1.4845, before reversing back to the downside towards the key support for the minor channel at 1.4725. The stochastic indicator is still providing bearish signs, which may result in declines yet we believe the pair is to incline on... |
| Technical Analysis Daily: EUR/USD
October 8, 2009 at 7:18 pm
|
| | On Thursday Euro/Dollar continued the ascending movement, reaching a peak at 1.4816, and closing the day at 1.4793. On the 3 hour chart 1.4815 is a key strong resistance at this stage. Short term signals are neutral for now, and some insignificant downward correction should not come unexpected today, with... |
| The Daily Forecaster: AUDUSD
October 8, 2009 at 7:16 pm
|
| | The underlying MT direction is bullish 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 higher. It is very... |
| Market Morning Briefing
October 8, 2009 at 5:29 pm
|
| | A bit of profit-taking hits non-Dollar currencies. The Euro (1.4705) has dipped a bit from yesterday's high near 1.4818. The Aussie (0.9028) remains overall strong, although a little lower than yesterday's high of 0.9095. Dollar-Yen (89.15) has seen a decent bounce today, up from a low of 88.00 seen on... |
| Daily Technical Analysis
October 8, 2009 at 4:41 pm
|
| | The GBPUSD had a bullish momentum yesterday. On h4 chart below we can see that the triangle has been violated to the upside indicating potential bullish view. Price now traded lower after topped at 1.6120, around 1.6057 at the time I wrote this comment. As long as the pair able... |
| FX Technical Commentary
October 8, 2009 at 3:47 pm
|
| | Euro 1.4772 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) | | | 
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