14 October 2009

10/15 Forex Technical Analysis Reports (ActionForex.com)

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Daily Technical Analysis
October 14, 2009 at 4:09 pm

The EURUSD continue it's bullish momentum yesterday, topped at 1.4946 and closed at 1.4933. On my daily chart below we can easily see that 1.4950 area is a very important resistance level, my final technical resistance to be tested before aim for 1.5300 even 1.6000 area.

EURGBP : Collapses On Shooting Star Formation
October 14, 2009 at 8:25 am

Having printed its highest price since Mar 27'09 early Tuesday, EURGBP backed off that level and traded lower to close at 0.9315 forming a shooting star candle (top reversal signal) on Tuesday. Although seen turning off its intra day low today, the mentioned candle formation is ominous of a halt...

USD/JPY Stagnant Following Uneventful BoJ Meeting
October 14, 2009 at 5:53 am

The BoJ's first monetary policy decision under the DPJ came and went with little reaction. The BoJ kept quiet concerning its QE plans, and appears to have learnt its lesson from the psychological impact of recent comments. In fact, the BoJ kept its monetary policy unchanged and didn't mention anything...

GBP/USD's Rally Tops Out after Eclipsing 1.60
October 14, 2009 at 5:52 am

The Cable's rally has finally topped out after the currency pair breached the highly psychological 1.60 level. Yesterday's pop on oversold conditions was extended today after Britain's CCC data printed a surprising decline. The improvement in unemployment led investors back to the Pound and the Sterling also logged solid gains...

EUR/USD Continues its Climb Towards 1.45
October 14, 2009 at 5:51 am

The EUR/USD has continued to climb beyond our 3rd tier downtrend line as we anticipated. As we mentioned in yesterday's analysis, we view the movement past our 3rd tier and September highs as a key development in regards to a new leg up for the currency pair. The EUR/USD is...

FX Thoughts for the Day
October 14, 2009 at 2:19 am

Cable has risen and faced Resistance in the region mentioned in the morning at 1.6020-65. Since it continues to test this Resistance and if successful in breaching past, this brief surge may be restricted to 1.6150 before it resumes its downtrend once again. However, the medium term picture is still...

Cable Daily Wave Count: Correction or Impulse
October 14, 2009 at 1:14 am

Cable broke through the 1.6111 low over the past weeks, which means that wave C) or a much lower wave III) is in progress. Recent prices have reached our target at the 38.2% Fibonacci retracement area, where the bounce from the wave IV lows on the long side may happen.

Technical Analysis Daily: USD/JPY
October 14, 2009 at 12:11 am

On Tuesday the upward adjustment of the Dollar/Yen stopped. The currency couple tried to rise, reaching a peak at 90.14, closing the day at 89.67. Immediate support is this morning's bottom at 88.85 level. The longer the Dollar is trading above this zone against the Yen, the opportunity for further...

Daily FX Report
October 13, 2009 at 11:39 pm

Since the middle of September, the GBP has been trading in a bearish trend against the CHF. During this time, the currency pair could always recover when it touched the bottom Bollinger Band and climbed up to the middle or even up to the upper Bollinger Band. Recently, the GBP...

Currency Technical Report
October 13, 2009 at 11:33 pm

Dollar is still under pressure, and as a result euro is moving to new tops, close to 1,4900 area, confirming our basic scenario. Next target should be at 1,5100 area or higher. After yesterday's tops, important resistance levels have been reached for the short term, as you can see in...

EURUSD: Strenghth Still Targeting The 1.4844 Level
October 13, 2009 at 11:22 pm

EURUSD: 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...

USDJPY: Shooting Star Candle Halts Recovery
October 13, 2009 at 11:21 pm

USDJPY- 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...

Forex Technical Analysis
October 13, 2009 at 11:18 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.

Technical Analysis Daily: GBP/USD
October 13, 2009 at 10:02 pm

Pound/Dollar traded quieter on Tuesday. After reaching a peak at 1.5822, the Cable made a decreasing attempt, reaching a bottom at 1.5717, than rose sharply to 1.5940, closing the day at 1.5922. On the 1 hour chart the break of the important support 1.5717 was not convincing. Consistent trading under...

Forex Technical Update
October 13, 2009 at 9:43 pm

EURO failed to break the support of 1.4680 levels and regained fresh momentum from the 21 day EMA support. 1.48 levels remains the key support level for today we would watch any reaction around that area before being bullish again. Consistent movement below that area could be a potential threat...

Forex Technical Analytics
October 13, 2009 at 9:09 pm

The estimated test of key resistance range levels has not exactly been confirmed but the estimated rate fall marked sign of rate oversold, and this reduces probability of strong rate fall. Therefore, at the moment, considering the chosen strategy, we can assume probability of rate range movement period with the...

FX Technical Analysis
October 13, 2009 at 8:53 pm

EURUSD Comment: Just one of many currencies hitting a new high for the year against the Euro. Yesterday's close above 1.4800 suggests we have started the next leg of a long term rally; a weekly close above here would confirm. Bullish momentum is good though the Euro is overbought -...

Technical Analysis for Major Currencies
October 13, 2009 at 8:33 pm

The euro versus dollar rushed strongly to the upside, breaching the minor resistance levels at 1.4810; nearing the resistance level for the minor ascending channel at 1.4950, which structured the short term bullish wave towards its main target 1.5040. The moving average protects the upside direction strongly, while noticing momentum...

Technical Analysis for Crosses
October 13, 2009 at 8:30 pm

After the bullish move that took the GBP/JPY pair to place a temporary high at 143.10, the pair is facing the bearish trend line as seen on the provided daily chart, which may be able to force it to correct mildly towards the key support line of 140.30 before resuming...

Daily Technical Outlook
October 13, 2009 at 8:25 pm

After reaching a fresh high at 1.4875 on yesterday, the euro pulled back but has found buyers on the dip to 1.4805/10. Therefore, upside is under pressure now as the euro trades comfortably into the higher half of the 1.48 region. Intra-day support is formed by 1.4800/10 backed by an...

Foreign Exchange Market Commentary
October 13, 2009 at 7:34 pm

EUR/USD closed higher due to short covering on Tuesday as it consolidated some of Monday's decline. The high-range close sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI are bearish signalling that sideways to lower prices are possible near-term. If it extends the decline...

Technical Analysis Daily: EUR/USD
October 13, 2009 at 7:22 pm

On Tuesday Euro/Dollar continued the upward trend as expected up to 1.4870. On the 3 hour chart the currency pair tried to reach higher bed, climbing above the 1.4815 resistance level. The upward impulse was limited at 1.4871, closing the day at 1.4852. Our expectations are for rising European currency...

Forex and Dow Jones Recommended Levels
October 13, 2009 at 7:15 pm

EUR/USD Today's support: - 1.4833 and 1.4802(main), where correction is possible. Break would give 1.4779, where correction also may be. Then follows 1.4753. Break of the latter would result in 1.4730. If a strong impulse, we would see 1.4714. Continuation will give 1.4670 and 1.4626.

The Daily Forecaster: USDCAD
October 13, 2009 at 6:03 pm

Yesterday's pullback was very weak and I still feel the downside is going to extend further with the 1.0160-98 area being where we should be looking for a short term bounce for a correction. Only an earlier break back above 1.0324 would resurrect any chance of seeing a deeper correction...

Market Morning Briefing
October 13, 2009 at 5:59 pm

Dollar-revulsion seems to be getting more acute with Gold rising above 1060. The non-Dollar currencies remain stronger and are getting stronger still. The Euro (1.4880) is likely to test 1.4930, where it faces a short-term Resistance. The Aussie (0.9108) is the world's favourite currency at the moment and looks set...

Daily Technical Analysis
October 13, 2009 at 4:25 pm

The EURUSD continue it's bullish momentum yesterday, topped at 1.4874 and closed at 1.4851. As you might already know, 1.4850 - 1.4950 area is a very important area for me since I believe any reactions around that area determine whether we will continue the bullish at least towards 1.5300 even...

FX Technical Commentary
October 13, 2009 at 3:35 pm

Euro 1.4845 Initial support at 1.4646 (Oct 6 low) followed by 1.4481 (Oct 2 low). Initial resistance is now located at 1.4908 (Aug 22 high) followed by 1.4980 (August 13 '08 high)
 

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13 October 2009

10/14 Forex Technical Analysis Reports (ActionForex.com)

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Bye Bye, Or Buy Buy Dollar Index?
October 13, 2009 at 7:54 am

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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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12 October 2009

10/13 Forex Technical Analysis Reports (ActionForex.com)

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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

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

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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11 October 2009

10/12 Forex Technical Analysis Reports (ActionForex.com)

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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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