| Daily Technical Analysis
October 28, 2009 at 4:15 pm
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| | As I had expected, the EURUSD continued it's bearish momentum yesterday, bottomed at 1.4690 and closed at 1.4715. As you can see in my daily chart below, we area in critical technical phase where price is now testing the major trendline support. This trendline support could be a strong support... |
| USD/JPY Reverses and Dips Back Towards 91
October 28, 2009 at 6:15 am
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| | The USD/JPY topped out yesterday and has been hit by a wave of downward pressure in reaction to the selloff in U.S. equities. Investors are taking profits in some of their riskier investment vehicles, including the USD/JPY. Additionally, the more negatively mixed U.S. econ data we receive, the less likely... |
| GBP/USD Treks Higher with our 2nd tier Uptrend Line
October 28, 2009 at 6:14 am
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| | The Cable has managed to hold up well above our 2nd tier uptrend line despite recent strength in the Dollar. Investors were encouraged by yesterday's positive CBI Realized Sales data considering the damage brought upon the Cable by Friday's disappointing Prelim GDP data. The CBI release has allowed the Cable... |
| EUR/USD Consolidates above 10/13 Lows
October 28, 2009 at 6:13 am
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| | The EUR/USD has undergone encouraging consolidation along what is now our 3rd tier uptrend line. Present consolidation comes with a sigh of relief considering the extent of the selloff in the EUR/USD thus far this week. Investors are encouraged by the better than expected Core DGO data even though the... |
| Chart Of The Day: AUD/USD
October 28, 2009 at 4:46 am
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| | Price action on AUD/USD, a daily chart of which is shown, has displayed some significant U.S. dollar strengthening in the past several trading days, much in the same manner as other dollar-based currency pairs. But the strong uptrend in AUD/USD, which has been firmly in place since early March, is... |
| Usd/Cad Long Off With Oil Under $82
October 28, 2009 at 4:43 am
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| | The Usd/Cad pair broke through the red wave I top at shown at 1.0581, and that was the key for the move towards the trend line resistance, as discussed recently. If the trend upper line also gets broken around 1.0730 in the near-term then prices may trade into the 1.0900... |
| FX Thoughts for the Day
October 28, 2009 at 1:54 am
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| | Swiss has risen during the day from the low of 1.0191. Immediate Resistance is seen at 1.0250, a break above which might see a rise towards 1.0280-0300 in the US session today. Note that 1.0292 is the 61.8% retracement level of the fall from 1.0452 (01-Oct) to 1.0034 (21-Oct). And... |
| EURUSD - Outlook Bearish Below The 1.4844/1.5000 Levels
October 28, 2009 at 1:16 am
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| | As a follow through lower on the pair's collapse off the 1.5062 level saw it violating key support at the 1.4844 level, its Sept 23'09 high on Tuesday, threats of further downside is now seen towards the 1.4699 level, its daily 50 ema and its Oct 09'09 low at 1.4672.... |
| GBPUSD - Still Vulnerable To The Downside
October 28, 2009 at 1:14 am
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| | Although GBP maintained a positive close on Tuesday, that occurred below the 1.6466 level, its strong resistance which must be taken out to signal a move higher targeting the 1.6692 level, its Oct 23'09 high. Until this materializes, downside pressure is still expected towards its Sept 30'09 high at 1.6124... |
| Technical Analysis Daily: USD/JPY
October 28, 2009 at 1:06 am
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| | Dollar/Yen tried to climb on Tuesday, but failed to break up the key resistance at 92.32, dropping later down to 91.60, and closing the day at 91.76, indicating reversal bearish trend. 90.93 remains a strong support today. Convincing break under that level may seriously shake the upward scenario and lead... |
| Technical Analysis Daily: GBP/USD
October 27, 2009 at 11:05 pm
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| | On Tuesday Pound/Dollar climbed to the 1.6438 top, forming convergence on the 3 hour chart. From that point the Cable started descending down to the 1.6315 bottom, closing the day at 1.6374. Our preferable scenario today is downwards from the good resistance level and upper limit of the downward channel... |
| Forex Technical Analysis
October 27, 2009 at 10:25 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. |
| Forex Technical Analytics
October 27, 2009 at 10:03 pm
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| | The estimated test of key supports has not exactly been confirmed and the estimated rate rise marked signs of rate overbought as the ground to suppose further rate correction period with the preservation of bullish direction for planning of trading operations for today. On the assumption of it, as well... |
| FX Technical Analysis
October 27, 2009 at 9:25 pm
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| | EURUSD Comment: Dropping to the 26-day at 1.4770, giving up 50% of the most recent gains. The Euro is no longer overbought and bullish momentum is almost nil. Expect it to try and hold at current levels today. |
| Daily Technical Outlook
October 27, 2009 at 9:17 pm
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| | Euro's sell-off continued on yesterday as a result of equities pulling back from recent top sides. Support has been found on the 50% retracement of October's swing from 1.4480 to 1.5060 - at 1.4770 and former support zone around 1.4830 provides a minor resistance which is under pressure at the... |
| Forex Technical Update
October 27, 2009 at 8:45 pm
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| | EURO bullish momentum was paused on Friday and corrected yesterday around 200 pips.Bullishness is slowly fading away with the break of 1.4850 levels.Break of 1.48 clearly would signal major correction in euro driving other currency pairs also lower against dollar.Immediate resistance at 1.5050. Breaking which bullishness will resume again.(EurUsd-1.4812) Neutral |
| Technical Analysis for Major Currencies
October 27, 2009 at 8:25 pm
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| | The pair declined as expected yesterday, where it is currently trading between the 38.2% correction at 1.4840 and the 50% correction at 1.4770, with more tendency to the downside. As we see, the pair is within an oversold area yet a bearish crossover is evident on the 20 and 50... |
| Technical Analysis for Crosses
October 27, 2009 at 8:22 pm
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| | After being limited below 61.8% Fibonacci level, the GBP/JPY pair collapsed proving the strong bearish pressure obtained form the bigger A-B-C –corrective scenario- of the captured short term cycle on the four-hour interval. The candlestick formation shows that the declines are to continue over the intraday basis. AROON supports the... |
| Technical Analysis Daily: EUR/USD
October 27, 2009 at 8:04 pm
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| | After the sharp drop on Monday, yesterday Euro/Dollar continued descending insignificantly with around 150 pips. If the currency pair gets consistent movements above yesterday's top 1.4920, the trend may still get into the previous upward channel. However, there is also a downward divergence of CCI indicator on the 3 hour... |
| Currency Pair Daily Forecasts
October 27, 2009 at 7:50 pm
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| | EUR/USD-market strategy can be a buy from the level 1.4817$ 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 below the zero line. In order to find the power of the market,... |
| The Daily Forecaster: AUDJPY
October 27, 2009 at 6:57 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 27, 2009 at 6:54 pm
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| | EUR/USD Today's support: - 1.4777 and 1.4748(main), where correction is possible. Break would give 1.4725, where correction also may be. Then follows 1.4714. Break of the latter would result in 1.4690. If a strong impulse, we would see 1.4672. Continuation will give 1.4648. | | | 
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| Foreign Exchange Market Commentary
October 27, 2009 at 5:44 pm
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| | EUR/USD closed lower due to profit taking on Tuesday as it continued to consolidated some of the last week's rally. The low-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI are overbought but remain neutral to bullish signalling that sideways to higher... |
| Market Morning Briefing
October 27, 2009 at 5:39 pm
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| | The Euro (1.4820) saw an overnight low near 1.4770 while the Aussie (0.9125) continues to dip and may test 0.9070 before it recovers. The Pound (1.6360) has bounced slightly after last week's dive leading to a low of 1.6250 on Monday. Further losses are possible however as the disappointment with... |
| Daily Technical Analysis
October 27, 2009 at 4:25 pm
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| | The EURUSD had a significant technical bearish movement yesterday, break below my key support level 1.4850, bottomed at 1.4769 and closed at 1.4805. This fact should open the door for further bearish momentum towards 1.4670 area. The bias remains bearish in nearest term. 1.4850 area now become immediate resistance. Break... |
| FX Technical Commentary
October 27, 2009 at 3:45 pm
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| | Euro 1.4820 Initial support at 1.4770 (Oct 27 low) followed by 1.4762 (Oct 13 low). Initial resistance is now located at 1.5083 (Oct 21 high) followed by 1.5163 (76.4% retrace 1.6038 - 1.2330) |
| USD/JPY Continues to Consolidates with an Upward Bias
October 27, 2009 at 8:45 am
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| | The USD/JPY has continued its consolidation around 92 and has perked above our 2nd tier downtrend line in the process. However, the currency pair is having a little trouble breaking through our 3rd tier downtrend line after tapping it earlier today. Meanwhile, the USD/JPY's topside run is reaching an important... |
| GBP/USD Holds Strong above our 2nd Tier Uptrend Line
October 27, 2009 at 8:43 am
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| | The Cable has managed to hold up well above our 2nd tier uptrend line despite broad-based strength of the Dollar. Today's CBI Realized Sales number came in above analyst expectations and is helping buoy the Pound after Friday's disappointing Prelim GDP data. Today's CBI data counters recent flat Retail Sales... |
| EUR/USD Drops Beneath 10/19 Lows
October 27, 2009 at 8:43 am
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| | The EUR/USD skidded below its highly psychological 1.50 level yesterday in reaction to the selloff in U.S. equities. We didn't receive much pertinent econ data or news from the EU on Monday, telling us weakness in the Euro was fueled by overbought conditions and the pullback in the S&P futures.... |
| Dollar Index Structure
October 27, 2009 at 8:37 am
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| | The global stock market is lower at the start of a new week, which is driving the U.S. dollar higher. S&P Futures fell sharply trade from 1088 daily highs to 1062 support from 13th of October, where a possible break-out should take the U.S. Dollar even higher. "The dollar Index... |
| EURGBP: Reversing Its Past Week Rally
October 27, 2009 at 4:50 am
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| | Having failed to follow through higher on Monday ,EURGBP sold off sharply to close lower at 0.9116. It was seen building on those losses in early trading today suggesting that further weakness targeting the 0.9076 level, its Sept 30'09 low is now seen ahead of its psycho level at 0.9000... |
| FX Thoughts for the Day
October 27, 2009 at 2:18 am
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| | Cable is testing the Resistance region mentioned in the morning. If honoured, we would expect the pair to fall towards 1.62 initially and 1.60 thereafter. If broken, the pair may move up towards 1.6550-1.6600 and beyond that it might continue within the medium term uptrend. The chances are equal. It... |
| Technical Analysis Daily: USD/JPY
October 27, 2009 at 1:04 am
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| | On Monday Dollar/Yen decreased down to 91.57, from where renewed its upward trend to 92.29, closing the day at 92.22. Signals are expected to be rising for now, but any bearish correction should not come unexpected. On the 1 hour chart 92.35 is a key resistance, the break of which... |
| GBPUSD - Hitting Its Channel Resistance
October 27, 2009 at 12:54 am
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| | With a marginal close seen Monday following a retest of its falling channel resistance, another attempt was seen being made at the same resistance today. GBP continues to struggle within the mentioned channel since breaking into it the past week following its failure at the 1.6692 level, its Oct 23'09... |
| Euro Runs Out Of Steam As JPY Expected To Rise
October 26, 2009 at 11:57 pm
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| | The yen advanced against the dollar and the euro as stocks declined, sapping demand for higher- yielding currencies. The Japanese currency climbed the most versus the South Korean won and Swedish krona as the MSCI World Index of shares declined for a sixth day. The Australian dollar rose against all... |
| Daily FX Report
October 26, 2009 at 11:49 pm
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| | During October the EUR/USD has gained inside a bullish trend channel. After it touched the lower line of the channel several times, it finally broke through it and fell to the support level of around 1.4840. If the market doesn't break this support level and rebound back over the 1.4900,... |
| Forex Technical Analysis
October 26, 2009 at 11:43 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. |
| Technical Analysis Daily: GBP/USD
October 26, 2009 at 11:03 pm
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| | As US stocks slid on Monday the Pound was seriously harmed like the other majors. The pair reached the 1.6254 bottom yesterday, closing the day at 1.6305. On the 3 hour chart quotes are moving within the 1.5754 - 1.6708 range, and we look for a break of either limits... |
| Forex Technical Update
October 26, 2009 at 10:17 pm
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| | EURO bullish momentum was paused on Friday and corrected yesterday around 200 pips.Bullishness is valid till it holds a even key support level 1.4850 area. Break of 1.48 clearly would signal major correction in euro driving other currency pairs also lower against dollar.Immediate resistance at 1.5050. Breaking which bullishness will... |
| Forex Technical Analytics
October 26, 2009 at 10:11 pm
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| | The pre-planned break-out variant for buyers was implemented with the achievement of minimal estimated target. OsMA trend indicator having marked break out of key resistance levels by considerable bullish activity rise and gives grounds to the choice of buyers' direction priority for today. On the assumption of it, as well... |
| FX Technical Analysis
October 26, 2009 at 10:04 pm
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| | EURUSD Comment: Time for a breather as news that it trades over 1.5000 hits the front page in some newspapers. Yesterday's large 'bearish engulfing' candle suggest we shall correct and consolidate below this year's high at 1.5064 this week and probably next. Dropping below the 9-day moving average and hopefully... |
| Daily Technical Outlook
October 26, 2009 at 9:25 pm
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| | Yesterday's losses in equities caused the euro's decline into the key support zone into the 1.4820/50 region. Former resistance around 1.4830 which is the top side of September provides support and while it holds, uptrend will remain intact, despite yesterday's decline of 220 points which is probably corrective. Although the... |
| Technical Analysis Daily: EUR/USD
October 26, 2009 at 8:20 pm
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| | On Monday Euro/dollar climbed to the 1,5059 top, than collapsed to the 1.4846 bottom, as expected, where the bears are limited for now, and the currency couple closed the day at 1.4870. The upward impulse may be renewed, and the downward correction may be over for now, if the European... |
| Technical Analysis for Major Currencies
October 26, 2009 at 8:17 pm
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| | According to yesterday's suggested scenario; the pair declined to correct 38.2% from the ascending channel, seen in the image above. The pair now needs a slight upside correction due to the long black candlestick before continuing the decline. Overall, the pair may still decline further yet after relieving momentum indicators. |
| Technical Analysis for Crosses
October 26, 2009 at 8:13 pm
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| | According to our captured short term Elliott sequence, the GBP/JPY pair corrected slightly to form the internal waves of the bigger A-B-C. This correction is awaited to be limited below the pivotal level of 61.8% at 151.60 zones before resuming the downside rally. Hence we keep the intraday outlook to... |
| Currency Pair Daily Forecasts
October 26, 2009 at 7:26 pm
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| | EUR/USD-market strategy can be a sell from the level 1.4903$ To strengthen our analysis; we use many other indicators, starting with MACD (Moving Averages convergence divergence); we notice the MACD lines after a bearish crossover below the zero line. In order to find the power of the market, we use... |
| The Daily Forecaster: USDCAD
October 26, 2009 at 6:28 pm
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| | The ascending triangle worked well with the breach of 1.0545 triggering follow-through to the 1.0695 resistance. There may be risk that a second ascending triangle is developing and while 1.0675-80 supports this can still work. Thus, if we see direct breach of 1.0695 look for the upside to reach the... |
| Foreign Exchange Market Commentary
October 26, 2009 at 6:24 pm
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| | EUR/USD closed lower due to profit taking on Monday as it consolidated some of the last week's rally. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are overbought but remain neutral to bullish signalling that sideways to higher prices are... |
| Market Morning Briefing
October 26, 2009 at 5:40 pm
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| | The Euro (1.4883) and Aussie (0.9188) has fallen sharply yesterday. Significant Support is seen in the region 1.4850-30 and 0.9120-00 for Euro and Aussie respectively. Dollar-Yen has risen from yesterday's low of 91.57. Resistance is seen at 92.50. |
| Daily Technical Analysis
October 26, 2009 at 4:21 pm
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| | The EURUSD had a significant bearish momentum yesterday, bottomed at 1.4844 and closed at 1.4863. The CCI bearish divergence I showed you on Saturday give us a valid signal about bullish exhaustion and bearish momentum. On h4 chart below we can see that price violated the bullish channel to the... |
| FX Technical Commentary
October 26, 2009 at 3:53 pm
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| | Euro 1.4875 Initial support at 1.4829 (Oct 19 low) followed by 1.4762 (Oct 13 low). Initial resistance is now located at 1.5083 (Oct 21 high) followed by 1.5163 (76.4% retrace 1.6038 - 1.2330) | | | 
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| S&P Doji Signals Short Euro
October 26, 2009 at 9:03 am
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| | At the start of a new week in Asian trade the U.S. dollar was moved lower by a higher Japanese and Chinese session of trade. The Eur/Usd traded up, into the1.5040-1.5060 region for the third time in the past four trading days, before today's European and U.S. stock markets reversed... |
| Eur/$, Finally Broke the Key Support....
October 26, 2009 at 8:49 am
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| | In the Oct 20th email on eur/$, affirmed the long position (rebought on Sept 29th email at 1.4590) but warned that risk was rising rapidly (lots of important, longer term resistance, see below, bear divergence on the daily macd, etc.). Said to use a very aggressive stop on an intraday... |
| USD/JPY Consolidates with an Upward Bias
October 26, 2009 at 5:42 am
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| | The USD/JPY is consolidating around our 2nd tier downtrend line while maintaining its upward bias from last week. Positive U.S. Q3 earnings and econ data have given investors renewed faith in the U.S. economy as a whole, allowing investors to feel more comfortable with the USD/JPY risk trade. By sending... |
| Chart Of The Day: USD/CHF
October 26, 2009 at 5:40 am
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| | Bearish price action on USD/CHF, a daily chart of which is shown, is approaching parity within the context of a steep, continuing downtrend. Parity (at 1 U.S. dollar to 1 Swiss franc) was last hit in July of 2008. Therefore, the long-term low from last week, which fell just shy... |
| GBP/USD Stabilizes along our 2nd Tier Uptrend Line
October 26, 2009 at 4:36 am
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| | The GBP/USD has balanced along our 2nd tier uptrend line after getting pummeled on Friday. Britain's Prelim GDP data printed 6 basis points below analyst expectations (-0.4% vs 0.2%), shocking investors and igniting speculation that the BoE will keep its QE package open. This sentiment contradicts recent optimism garnered from... |
| EUR/USD Consolidates Around 1.50
October 26, 2009 at 4:35 am
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| | The EUR/USD is continuing its consolidation around the highly psychological 1.50 mark after Germany's Consumer Climate number came in weak as anticipated. Despite the miss, the EUR/USD is showing little reaction since today's data reading could be just a bump in the road to improvement and doesn't confirm a material... |
| EURUSD: Maintaining Upside Momentum Above The 1.5000 Level
October 26, 2009 at 3:48 am
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| | The pair was seen taking a stab at higher prices today trading to as high as 1.5062 level and while holding above the 1.5000 level, we continue to see further upside risk. That leaves the 1.5082 level, its Aug 10'08 high as the next upside target with a loss of... |
| USDJPY: Channel Top To Provide Resistance
October 26, 2009 at 3:47 am
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| | Outlook for USDJPY though nearer term higher, is largely bearish short and medium terms suggesting its current recovery is corrective of its declines triggered off the 101.43 level in April'09. More evidence of this view is provided by its falling channel patterns both on the weekly and daily charts and... |
| FX Thoughts for the Day
October 26, 2009 at 1:57 am
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| | Cable has risen a little beyond the Resistance at 1.6300. Further rise beyond the immediate Resistance at 1.6354 (21-Week MA) should find another strong Resistance near 1.6425. We would then expect the pair to fall towards 1.62 if this Resistance holds strong. This would further increase chances of the Friday's... |
| Currency Technical Report
October 26, 2009 at 1:24 am
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| | Euro is still in an uptrend and our first targets have been reached. The wider area of 1,5100 should be confirmed as an important technical resistance. However, retracements remain weak and the short term channel in the 4 hour chart is still valid, after the last base of 1,4480-4500. The... |
| Daily FX Report
October 25, 2009 at 11:55 pm
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| | Since the end of September, the GBP has lost along a downward trend line against the AUD. After it crossed the 1.7600 level, the pair started to recover its losses and reached a high of around 1.8000. The market is trading currently on the downward trend line again and touched... |
| Forex Technical Analysis
October 25, 2009 at 11:32 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. |
| Forex Technical Analytics
October 25, 2009 at 11:02 pm
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| | The pre-planned short positions from key resistance range levels were implemented with the achievement of minimal estimated target. OsMA trend indicator having marked activity fall of both parties as it was before, does not clarify the choice of planning priorities for today. Nevertheless, considering suppositions of further rate range movement... |
| Daily Technical Outlook
October 25, 2009 at 9:16 pm
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| | Resistance into the 1.5045/50 region is intact and couldn't be broken yet although it's been tested several times. Upside remains favored as long as intra-day support on the 1.5000 handle will hold on potential pullbacks. Intra-day studies are bullish but a sustained break above 1.5050 should encourage faster gains towards... |
| Technical Analysis for Crosses
October 25, 2009 at 8:07 pm
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| | The daily closing that occurred on Friday -secondary image- supports our captured short term Elliott sequence while the GBP/JPY pair is forming the [A] wave as seen on our provided four-hour chart. The technical target of the aforesaid wave resides around 146.40. Hence we keep our overview to the downside... |
| Technical Analysis for Major Currencies
October 25, 2009 at 7:56 pm
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| | The pair started today's trading with some upside potential yet we see on the hourly charts that the pair failed to close above 1.5045 or 1.5065 which resulted in a reversal to the downside where the stochastic indicator is showing a bearish crossover supporting the correctional decline. The pair does... |
| Forex and Dow Jones Recommended Levels
October 25, 2009 at 7:48 pm
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| | EUR/USD Today's support: - 1.4974 and 1.4940(main), where correction is possible. Break would give 1.4916, where correction also may be. Then follows 1.4892. Break of the latter would result in 1.4878. If a strong impulse, we would see 1.4855. Continuation will give 1.4816. |
| The Daily Forecaster: GBPJPY
October 25, 2009 at 6:36 pm
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| | Well… that was a total reversal and from below my target. However, I think we're close to the end of the first leg lower and I feel this will stall in the 148.70-87 area. Look for a bullish reversal pattern here. Once it starts on its way the first area... |
| Foreign Exchange Market Commentary
October 25, 2009 at 6:29 pm
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| | EUR/USD closed lower due to profit taking on Friday as it consolidated some of the week's rally. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are overbought but remain neutral to bullish signalling that sideways to higher prices are possible... |
| Market Morning Briefing
October 25, 2009 at 5:31 pm
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| | The Dollar has taken a beating against the Yen in early Asian trade today. Dollar-Yen (91.65) has fallen from a high of 92.20 seen earlier in the morning. Euro (1.5040) has moved up a bit, but faces important Resistance in the 1.5060-99 region. The Euro-Yen Cross (137.85) has come off... |
| FX Technical Commentary
October 25, 2009 at 4:37 pm
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| | Euro 1.5010 Initial support at 1.4829 (Oct 19 low) followed by 1.4762 (Oct 13 low). Initial resistance is now located at 1.5083 (Oct 21 high) followed by 1.5163 (76.4% retrace 1.6038 - 1.2330) |
| Daily Technical Analysis
October 25, 2009 at 3:46 pm
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| | The EURUSD bullish momentum was paused on Friday. This may caused by a profit-taking activity on the weekend but some people, including me, start to worry about potential downside correction or even a bearish reversal. Like I said in my weekly summary on Saturday, beside the pair can not really... | | | 
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