| Chart Of The Day: Gold
September 18, 2009 at 5:50 am
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| | Price action on Gold, a daily chart of which is shown, after just breaking out above the previous 1006 resistance high and hitting a new high near 1024 this week, has dipped back down to the level of breakout. This price action occurs within the context of both a long-term... |
| FX Thoughts for the Day
September 18, 2009 at 2:12 am
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| | Cable has taken Support near the Projected Max Low for the day when it dipped towards 1.6297. A corrective rise from here is likely to be limited to 1.6448 (the Projected Max High for the day) and is then likely to continue with bearishness towards the Support at 1.6200-1.6180. A... |
| Currency Technical Report
September 18, 2009 at 1:59 am
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| | Euro formed new tops once again, reaching 1,4765 area. The move is similar to the previous reach of 1,4620 and 1,4650-70 area, but in that case it managed to move to new highs. The oscillators are in overbought areas in all charts… Our strategy remains the same. Until we see... |
| GBPUSD: Nearer Term Weakness Continues To Dominate
September 18, 2009 at 1:12 am
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| | As indicated in our analysis on Thursday, GBP remains biased to the downside nearer term and was seen weakening through its MT rising trendline drawn off the 1.3652 level currently at 1.6350 today. Ultimately invalidating that level on a weekly closing basis will create a chart damage and open up... |
| EURUSD: Corrective Pullbacks Looks To Shape Up
September 18, 2009 at 1:10 am
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| | As EUR was seen trading below its Thursday high (1.4766) in early trading today following a close above its key resistance at the 1.4719 level, potential for corrective pullbacks could be shaping up. Its daily studies which are deeply overbought add to this view and if that plays out, declines... |
| Currency Pair Daily Forecasts
September 18, 2009 at 12:29 am
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| | EUR/USD-market strategy can be a sell from the level 1.4729$ 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... |
| Technical Analysis Daily: USD/JPY
September 18, 2009 at 12:15 am
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| | Dollar/Yen traded hesitantly on Thursday, first dropping down to the 90.53 bottom, than rising to the 91.57 top. However, on the 1 hour chart the downward channel was broken upwards, and quotes formed a new ascending channel, indicate initial bullish correction with targets towards the important resistance and yesterday's top... |
| Forex Technical Analysis
September 17, 2009 at 11:29 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
September 17, 2009 at 10:40 pm
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| | During the September, the AUD/USD has been trading close to a bullish trend-line and touched its monthly high at 0.8775. Many traders closed their long positions and the currency pair rebounded near to its first support at 0.8677. As you can see this support line might cross the new bearish... |
| Forex Technical Update
September 17, 2009 at 10:23 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 (Refer Chart sent yesterday evening) Immediate support is seen at 1.4570. Break below that area could be a valid breakdown from the rising... |
| Technical Analysis Daily: GBP/USD
September 17, 2009 at 10:08 pm
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| | On Thursday Pound/Dollar attempt to rise, reaching a peak at 1.6559, but the bullish movement was limited there and the Cable dropped down to the 1.6424 bottom, closing the day at 1.6450. On the 3 hour chart the upper limit of the downward channel stopped the bullish effort, holding the... |
| U.S. Dollar On The Move As GBP Expected To Stall
September 17, 2009 at 9:53 pm
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| | The pound weakened for a second day against the dollar on renewed concern the financial crisis in Europe will be prolonged, damping demand for the region's assets. Britain's currency dropped against 15 of its 16 major counterparts after the Daily Telegraph said Lloyds Banking Group Plc had been forced to... |
| Forex Technical Analytics
September 17, 2009 at 9:43 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 low activity of both parties does not clarify the choice of planning priorities for today. Therefore, considering the suppositions of probable rate range movement we can assume probability... |
| FX Technical Analysis
September 17, 2009 at 8:39 pm
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| | EURUSD Comment: Having rallied for ten consecutive days hoping the Euro will do so yet again today might prove more than what it can cope with. It is overbought but a weekly close clearly above 1.4600 should keep bullish momentum at current levels. |
| Technical Analysis for Crosses
September 17, 2009 at 8:06 pm
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| | The positive daily divergence is still preventing the pair from resuming the major bearish scenario of the classical daily double top pattern. Hence we still see that a temporary upside correction is in progress towards the broken support areas –turned into resistance - between [152.80 and 153.60]. |
| Technical Analysis for Major Currencies
September 17, 2009 at 8:01 pm
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| | The Euro versus Dollar pair touched the key support for the short term ascending channel currently at 1.4705 as seen in the above image. The daily close above the previously breached key resistance at 1.4715 keeps the uptrend valid therefore we expect the pair is to incline on the intraday... |
| AUD/USD Forms Double Bottom
September 17, 2009 at 7:51 pm
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| | With gold recently breaking above the $1,000 mark, many forex traders have expected the AUD/USD pair to take off. Because of the strong positive correlation between the Aussie and gold, more often than not, a strong increase in gold often translates into a strong gain in the AUD/USD. |
| Daily Technical Outlook
September 17, 2009 at 7:49 pm
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| | A fresh ytd high has been reached on yesterday at 1.4765 and the euro holds steady above the 1.4700 handle, being well supported by the rising trend line seen on the 4-hrs chart attached below. While above the said support, intra-day sentiment will remain positive, favoring further upside action towards... |
| Technical Analysis Daily: EUR/USD
September 17, 2009 at 7:21 pm
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| | On Thursday Euro/Dollar was made a moderate increasing movement, reaching a peak at 1.4757, closing the day at 1.4741. Of the 1 hour chart the currency pair is still within the ascending triangle formation. Signals are expected to be rising towards 1.4800. However, the MACD divergence on 3 hour chart... |
| The Daily Forecaster: GBPJPY
September 17, 2009 at 6:04 pm
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| | As expected we have seen losses which reached the 149.63-91 support but this morning has seen extension to 149.22. The earliest I can see some sort of decent correction is from 148.25. Even then this will be for a correction only but could rise back towards the 149.75-85 area. However,... |
| Forex and Dow Jones Recommended Levels
September 17, 2009 at 5:47 pm
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| | EURUSD Today's support: - 1.4665, 1.4620 and 1.4577(main), where correction is possible. Break would give 1.4552, where correction also may be. Then follows 1.4514. Break of the latter would result in 1.4490. If a strong impulse, we would see 1.4477. Continuation will give 1.4442. |
| Foreign Exchange Market Commentary
September 17, 2009 at 5:42 pm
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| | EUR/USD closed higher on Thursday as it extends this month's rally. The high-range close sets the stage for a steady to higher opening on Friday. 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... |
| Market Morning Briefing
September 17, 2009 at 5:36 pm
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| | The Euro (1.4706) has come off slightly from its yesterday's high of 1.4765. However the current uptrend is still intact with Support in the region 1.4630-00. Dollar-Yen (91.28) is trading near the Resistance region 91.30-50. Since the Support region 90.20-00 has held very well this week, today's closing level will... |
| FX Technical Commentary
September 17, 2009 at 4:32 pm
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| | Euro 1.4715 Initial support at 1.4516 (Sept 14 low) followed by 1.4467 (Sept 9 low). Initial resistance is now located at 1.4768 (Sept 17 high) followed by 1.4866 (Sept 22 2008 high) | | | 
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