| Daily Technical Analysis
September 17, 2009 at 4:10 pm
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| | The EURUSD made another moderate bullish momentum, topped at 1.4766 and closed at 1.4743. The bias remains bullish in nearest term with potential targets at 1.4825 (September 23 2008 high) and 1.4867 (September 22 2008 high). On h4 chart below we can see that the pair still trapped in the... |
| Gbp/Usd Corrective Channel, Gold Searching for a Top in Wave V, S&P Futures At Resistance level
September 17, 2009 at 10:00 am
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| | Prices have made some small gains recently on the cable four hour chart as expected, up from the black wave II) low. This last move up, however, was very slow and choppy, which suggests that wave II) is maybe not completed yet. As such, we are looking for a possible... |
| USD/JPY Consolidates Above 90
September 17, 2009 at 5:19 am
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| | The USD/JPY has received considerable support at the highly psychological 90 level over the past 24 hours. Strength in the USD/JPY comes despite broad-based weakness in the Dollar and new 2009 highs in gold. The USD/JPY's resilience is a result of two factors. The first being the BoJ's cautionary tone... |
| GBP/USD Holds Strong at 1.65
September 17, 2009 at 5:17 am
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| | The GBP/USD has managed to fight off the dovish statements from the BoE's King, stabilizing around the psychological 1.65 level as global equity markets rally. Yesterday we saw large rallies in the EUR/USD, gold, and U.S. equity markets. The Cable's positive correlations pulled the currency pair out of its intense... |
| EUR/USD Trades off Weekly Highs Amid Profit-Taking
September 17, 2009 at 5:16 am
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| | The EUR/USD's medium-term uptrend flexed its muscles yesterday, driving past 1.47 on solid buy-side activity. The EUR/USD benefitted greatly from a return to risk following better than expected U.S. Industrial Production and Capacity Utilization. As we explained in our previous analysis, the EUR/USD had few technical barriers to the topside,... |
| EURGBP: All Eyes On The 0.9000 Level & Beyond
September 17, 2009 at 5:00 am
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| | Having decisively broken and closed above its swing highs at the 0.8837/66 levels and followed through higher on Wednesday, risk is now seen for further upside move towards its big psycho level residing at 0.9000. This now leaves the cross's short term uptrend activated at the 0.8399 level in Jun'09... |
| FX Thoughts for the Day
September 17, 2009 at 2:15 am
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| | There's possibility of a bearish flag on the 8H chart which could bring it down once again towards the 55-DMA at 1.6451. A break of 55-DMA which is vulnerable given that it is flattening, might present a strong case for the S-H-S confirmation on the weekly chart. The S-H-S might... |
| GBPUSD: Continues To Face Nearer Term Weakness
September 17, 2009 at 1:46 am
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| | The pair continues to be under pressure having backed off its 1.6740 high on Sept 11'09 to collapse further lower to as low as 1.6401 on Tuesday. Nearer term risk remains lower while holding below the 1.6740 level but if a loss of there occurs, GBP should head higher towards... |
| EURUSD: Breaks The 1.4719 Level, Targets The 1.4875 Level
September 17, 2009 at 1:43 am
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| | Sustained strength saw the pair breaking through its strong resistance in early trading today suggesting that a hold above there especially on a weekly closing basis will keep the 1.4875 level, its Sept 21'09 high and beyond under pressure. This current strength was triggered following its break above its key... |
| Currency Technical Report
September 17, 2009 at 1:39 am
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| | Euro formed new tops again and the uptrend is clear. A break of 1,4700-30 resistance indicates that the rise is likely to be continued and only a big reversal and move below 1,4600 at first and then 1,4500 area, would bring optimism to sellers. In the weekly chart we can... |
| Technical Analysis Daily: USD/JPY
September 16, 2009 at 11:59 pm
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| | On Wednesday Dollar/Yen dropped in the morning as expected, making the bottom of a 90.13, where bearish momentum was limited and the currency pair rose sharply to 91.29, closing the day at 90.93. The 90.15 appears to be a key support level. In upward direction 91.30 is a strong resistance... |
| Currency Pair Daily Forecasts
September 16, 2009 at 11:11 pm
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| | EUR/USD-market strategy can be a buy from the level 1.4691$ 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,... |
| Daily FX Report
September 16, 2009 at 11:02 pm
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| | Since August, the currency pair has been trading in a bearish trend-channel and touched its lowest level around the 90.00 at least. An increasing Momentum indicator shows at the moment a short recovering phase but is apparently not strong enough to push the USD over its pivot point. If the... |
| Forex Technical Analysis
September 16, 2009 at 10:22 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
September 16, 2009 at 10:10 pm
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| | On Wednesday Pound/Dollar traded hesitantly, forming divergence on the 3 hour chart. The Cable descended down to the 1.6433 bottom, from where it rose insignificantly, closing the day at 1.6486. Of the 3 hour chart the currency pair is still trading between 1.6125 and 1.7020. Signals are expected to be... |
| Forex Technical Analytics
September 16, 2009 at 9:22 pm
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| | The pre-planned short positions from key resistance range levels were implemented with overlap of minimal estimated target. OsMA trend indicator, having marked activity fall of both parties gives grounds to preserve planning priorities chosen before in the direction of the current market situation. Nevertheless, considering that in such situations rises... |
| FX Technical Analysis
September 16, 2009 at 8:49 pm
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| | EURUSD Comment: Inching slowly to the highest this year amid generalised US dollar weakness. Expect more of the same as the US authorities remain stubbornly silent on the matter. |
| Technical Analysis for Crosses
September 16, 2009 at 8:39 pm
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| | A positive daily closing above 149.00 areas along with a slant positive divergence as seen on our provided chart encourages us to say that a temporary upside correction is in progress towards the broken support areas –turned into resistance-between [152.80-153.60] but without ignoring the fact that this anticipated bullishness should... |
| Forex Technical Update
September 16, 2009 at 8:34 pm
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| | The rising wedge formation and channel resistance at 1.47 levels shows that there is only a little room left for movement and a downward breakout looks possible. Immediate support is seen at 1.4570. Break below that area could be a valid breakdown from the rising wedge and could trigger a... |
| Daily Technical Outlook
September 16, 2009 at 8:13 pm
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| | Support has been found at 1.4650 on yesterday's minor pullback and upside is under renewed pressure, the euro trading around 1.4730 while writing this report. Uptrend is very strong and the daily charts are printing 9 consecutive higher highs until today, lacking any notable retracement. On the upside, next objective... |
| Technical Analysis for Major Currencies
September 16, 2009 at 8:05 pm
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| | The Euro versus Dollar pair corrected to the downside to build a base at 1.4655 before rebounding to the upside and near our suggested target at 1.4765. Trading within a minor bullish channel as seen in the above image is continuing the short term uptrend where it is expected to... |
| Technical Analysis Daily: EUR/USD
September 16, 2009 at 7:30 pm
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| | On Tuesday Euro/Dollar bounced downwards, reaching a bottom at 1.4653, than made a moderate rise to the 1.4736 top, closing the day at 1.4710. Quotes are approaching the upper limit of the ascending triangle formed. Breaking upwards will convincingly terminate the downward optional scenario, while the break down of the... |
| Foreign Exchange Market Commentary
September 16, 2009 at 5:53 pm
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| | EUR/USD closed higher on Wednesday as it extends this month's rally. The high-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI are overbought but remain neutral to bullish signalling that sideways to higher prices are possible near-term. If it extends the rally... |
| The Daily Forecaster: AUDUSD
September 16, 2009 at 5:48 pm
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| | Price rallied as expected and even moved above the 0.8720 resistance to reach the low end of the 0.8745-60 resistance. We have seen a pullback from there and it may well be complete at 0.8719 though we should allow for 0.8708-14. From this area I am looking for a move... |
| Market Morning Briefing
September 16, 2009 at 5:37 pm
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| | The Euro (1.4725) continues to move up with buyers available on dips. Dollar-Yen (91.08) has recovered slightly after recording a fresh low near 90.15 this month. It may take time, but the danger of a break below 90.00 still remains. Euro-Yen (134.10) has shot up as a result of the... |
| Daily Technical Analysis
September 16, 2009 at 4:03 pm
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| | The EURUSD had a moderate bullish momentum yesterday, topped at 1.4736 and closed at 1.4707. On h4 chart below we can see that the pair still trapped in rising wedge area. The bias is bullish in nearest term targeting 1.4800 area. However, the rising wedge on h4 chart and CCI... |
| FX Technical Commentary
September 16, 2009 at 3:31 pm
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| | Euro 1.4715 Initial support at 1.4516 (Sept 16 low) followed by 1.4467 (Sept 9 low). Initial resistance is now located at 1.4737 (Sept 16 high) followed by 1.4768 (Sept 25 2008 high) | | | 
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