| 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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| Why Technical Analysis Beats Out Fundamental Analysis
October 5, 2009 at 11:30 pm
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| | Well, let me begin my answer with a quote from a national financial magazine dated October 1977. "Over the last few years, the Wave Principle has gathered too much of a following and, therefore, it has less value today. Almost invariably, you can write off a technique when it gets... | | |  |
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| A Lesson in Drawing and Using Trendlines
October 5, 2009 at 11:26 pm
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| | When I began my career as an analyst, I was lucky enough to have some time with a few old pros. One in particular that I will always remember told me that a kid with a ruler could make a million dollars in the markets. He was talking about trendlines.... | | |  |
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| (RBA) Monetary Policy Statement by Glenn Stevens, Governor - 6 October, 2009
October 5, 2009 at 6:52 pm
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| | At its meeting today, the Board decided to raise the cash rate by 25 basis points to 3.25 per cent, effective 7 October 2009. The global economy is resuming growth. With economic policy settings likely to remain expansionary for some time, the recovery will likely continue during 2010 and forecasts... | | |  |
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| Real Estate Trends Could Impact Future path of Canadian Monetary Policy
October 6, 2009 at 4:42 am
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| | With the recession drawing to a close, the focus has shifted to the shape of the recovery and the implications for the eventual rebalancing of monetary policy. TD Economics believes that the most likely scenario is a gradual economic expansion in 2010, which will do little to absorb the significant... | | |  |
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| Market Morning Briefing
October 6, 2009 at 5:39 pm
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| | The Aussie (0.8885) was King yesterday after the trailblazing rate hike (25bp) and has seen a high near 0.8920 today. We may target 0.9130 over the next couple of weeks. The Euro (1.4685) is also bullish, although a little less so than the Aussie. We see decent chances of rise... |
| Daily Technical Analysis
October 6, 2009 at 4:55 pm
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| | The EURUSD continued it's bullish momentum yesterday, topped at 1.4761 and closed at 1.4721. On h1 chart below we can see that 1.4671 area is an important intermediate resistance at this phase. The bias is neutral in nearest term and we might see some downside correction today, but the bullish... |
| Foreign Exchange Market Commentary
October 6, 2009 at 4:13 pm
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| | EUR/USD closed higher on Tuesday as it extends the rally off last Friday's low. The mid-range close sets the stage for a steady opening on Wednesday. Stochastics and the RSI are turning bullish signalling that sideways to higher prices are possible near-term. If it extends this week's rally, September's high... |
| FX Technical Commentary
October 6, 2009 at 4:00 pm
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| | Euro 1.4710 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) |
| Forex and Dow Jones Recommended Levels
October 6, 2009 at 3:53 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. |
| USD/JPY Sinks Towards September Lows
October 6, 2009 at 7:38 am
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| | The USD/JPY is participating in today's broad-based weakness of the Dollar following the RBA's decision to raise its benchmark rate by 25 basis points. Though an incremental increase, the RBA's policy delivered a monetary shock and investors are beginning to trade with more of an exit-strategy mentality. The exit from... |
| GBP/USD Consolidates Around our 2nd Tier Uptrend Line
October 6, 2009 at 7:37 am
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| | The Cable is consolidating along our important 2nd tier uptrend line as the currency pair battles with the psychological 1.60 level. Meanwhile, the GBP/USD has managed to set higher lows, (10/6, 10/2, 9/28), a positive technical development for the uptrend. However, the Cable is still trading at a comparative disadvantage... |
| EUR/USD Strengthens Towards September Highs
October 6, 2009 at 7:36 am
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| | The Euro's relative strength is paying dividends today as investors exit the Dollar following a surprise 25 basis point rate hike from the RBA. We recognize broad-based weakness in the Dollar as a result, particularly against the Aussie and Kiwi. Additionally, gold has rocketed to new all-time highs, a negative... |
| Chart Of The Day: EUR/GBP
October 6, 2009 at 7:12 am
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| | As shown on the EUR/GBP daily chart, after making a minor bearish correction in the current steep uptrend, the euro has begun to resume its dominating position over the British pound. Price is currently approaching the 0.9300 high (almost a 6-month high) that was reached early last week with a... |
| EURUSD: Recovery Strength Eyes The 1.4844 Level
October 6, 2009 at 3:37 am
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| | Having halted its nearer term corrective pullbacks at the1.4479 level and triggered an upside strength, EUR was seen building on that gain today pushing through its Sept 30'09 high at 1.4672. With this development price action is now expected to develop towards its YTD high at 1.4844 with a decisive... |
| AUDUSD: Breaks The 0.8857 level, Resumes Its Medium Term Uptrend
October 6, 2009 at 3:36 am
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| | The pair has broken the 0.8857 level intra and has resumed its medium term uptrend with the next upside target standing at 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 RSI continues... |
| Dollar Index Critical Area at 75.83, Aud/Usd Psychological Level at 0.9000
October 6, 2009 at 2:11 am
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| | Prices on the dollar index chart were recently testing the upper resistance line of a trading channel, where a possible long break-out will confirm that wave V of a black C is done. However, this is not the case yet, and as such move into much deeper levels is still... |
| FX Thoughts for the Day
October 6, 2009 at 2:06 am
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| | Cable rose towards 1.6047 only to be sold sharply. Small upmoves are being followed with sharper slides. The Supports and Resistances mentioned in the morning continues to look good to be honoured going forward. The 55-MA on the 8H at 1.6183 could be the max that the pair may scale... |
| Technical Analysis Daily: USD/JPY
October 6, 2009 at 12:11 am
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| | Yesterday Dollar/Yen made a decreasing attempt, reaching a bottom at 89.22, where the bearish impulse was stopped, and the currency couple bounced sharply upwards to 89.96, closing the day at 89.53. Today Dollar continued to weaken against the Yen, as expected, down to 88.86. On the 3 hour chart USD/JPY... |
| Currency Technical Report
October 6, 2009 at 12:01 am
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| | Retracements from 1,4650-70 are, were limited at 1,4600 according to our upward scenario, and the upward break that followed confirmed the short term downtrend reversal. Buyers seem to dominate and next target is likely to be at previous lows or even higher. First important resistance emerges at 1,4720-30, followed by... |
| Forex Technical Analysis
October 5, 2009 at 11:58 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 5, 2009 at 10:53 pm
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| | Since the middle of August, the AUDCHF has been gaining close to an upward trend line. After touching the green support for the fourth time the market touched the middle Bollinger Band and is trading close to the resistance level around 0.9100. If the pair goes through this level, it... |
| Technical Analysis Daily: GBP/USD
October 5, 2009 at 10:09 pm
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| | Yesterday Pound/Dollar traded hesitantly. The Cable increased up to the 1.6020 top, from where it started dropping down to the 1.5904 bottom, closing the day at 1.5931. Today the Sterling continued recovering, as expected. On the 3 hour chart after a break of the support at 1.6050, which has now... |
| Forex Technical Update
October 5, 2009 at 9:31 pm
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| | EURO had a moderate bullish momentum yesterday, topped at 1.4668 and closed at 1.4648. 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... |
| Forex Technical Analytics
October 5, 2009 at 8:57 pm
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| | The pre-planned short positions from key resistance range levels were implemented with the achievement of main estimated targets. OsMA trend indicator having marked the tendency of bullish activity fall considering the chosen strategy gives grounds for sales priorities of planning of trading operations for today. On the assumption of it as... |
| FX Technical Analysis
October 5, 2009 at 8:45 pm
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| | EURUSD Comment: Breaking 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 a long way from being overbought so will not hamper rallies. However, this does mean that... |
| Technical Analysis for Major Currencies
October 5, 2009 at 8:35 pm
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| | The Euro versus Dollar pair was able to breach the neckline for the bullish technical pattern, pointed out yesterday, to surge higher in an attempt to reach the initial target near 1.4845. We may witness slight volatility, due to the negative pressured from momentum indicators that may result in a... |
| Technical Analysis for Crosses
October 5, 2009 at 8:31 pm
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| | The hourly piercing pattern that's appearing on the subsidiary image shows that a bullish correctional wave is still highly anticipated on the intraday basis, pushing the GBP/JPY pair to re-test the broken neckline of our captured daily double top around 147.00 zones. RSI 14 is still moving inside oversold areas... |
| Daily Technical Outlook
October 5, 2009 at 7:53 pm
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| | The euro recovered on yesterday and continued to climb higher during today's Asian trading session. Upside remains favored and a daily close above 1.4700 would confirm the end of the corrective cycle from 1.4845 to 1.4480. Intra-day sentiment is also positive and won't change as long as 1.4650/70 will provide... |
| Technical Analysis Daily: EUR/USD
October 5, 2009 at 7:12 pm
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| | Euro/Dollar made a moderately increasing movement on Monday. The currency couple attempted to rise, reaching a peak at 1.4667, where the bullish impulse was limited, and the currency pair closed the day at 1.4647. On the 3 hour chart the descending channel was broken upwards, and the upper limit now... |
| The Daily Forecaster: USDCHF
October 5, 2009 at 6:52 pm
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| | The underlying MT direction is neutral while the daily bias is neutral. Therefore it may be better to sit out of the market or trade breaks when supported by bullish or bearish set up patterns. It is advisable to study both lower and higher time frame charts for evidence to... |
| Foreign Exchange Market Commentary
October 5, 2009 at 5:47 pm
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| | EUR/USD closed higher on Monday and above the 10-day moving average crossing. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are turning neutral hinting that a short-term low might be in or is near. Multiple closes above the 10-day moving... |
| Market Morning Briefing
October 5, 2009 at 5:38 pm
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| | The Euro (1.4692) and Aussie (0.8766) are continuing with their uptrend and are trading higher. Intraday Support is seen at 1.4630 for Euro and Aussie might test the Resistance region 0.8830-50 today. Dollar-Yen (89.10) has fallen and is trading near 89, thereby keeping up the downtrend intact. Support is seen... |
| FX Technical Commentary
October 5, 2009 at 4:56 pm
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| | Euro 1.4664 Initial support at 1.4527 (Sept 29 low) followed by 1.4467 (Sept 9 low). Initial resistance is now located at 1.4725 (Sept 25 high) followed by 1.4844 (September 23 high) |
| Daily Technical Analysis
October 5, 2009 at 3:50 pm
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| | The EURUSD had a moderate bullish momentum yesterday, topped at 1.4668 and closed at 1.4648. On h4 chart below we can see that after struggle around the minor trendline resistance (red) where price cross up and down, the pair is now traded above the trendline resistance indicating bullish pressure still... | | | 
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