Archive for September, 2009

Sterling surged to a session high against the dollar and euro on Tuesday after figures showed a surprise rise in UK retail sales, wrong-footing the market which was broadly positioned for continued sterling weakness. Currency traders also cited a seminar at the Bank of England earlier on Tuesday with policymakers… more from... »

U.K. consumer confidence jumped in September by the most since 1995 as optimism about the economy’s prospects rebounded. An index of sentiment rose to minus 16, the highest since January 2008, from minus 25 the previous month, the market researcher said in an e-mailed statement today in London. A gauge of… more from... »

Pound/Dollar made a downward movement on Tuesday, reaching the 1.5829 bottom, as expected, where a the bearish impulse was limited and the Cable started rising up up to 1.5990, closing the day at 1.5959. After the strong downward momentum on 24-25 September down to 1.5925, the British Pound was oversold… more from... »

EUR/USD closed lower on Tuesday due to short covering. The low-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI remain bearish signalling that sideways to lower prices are possible near-term. If it extends this week’s decline, the 38% retracement level of this… more from... »

The estimated test of key supports for the implementation of pre-planned buying positions has not been confirmed but further rate rise marked the sign of rate overbought with further reaction of relative sales activity rise that gives grounds to suppose further rate fall without clarifying the choice of planning priorities… more from... »

EURUSD Comment: A small bounce from support at 50% Fibonacci retracement and 26-day moving average at 1.4500. If we can take out yesterday’s high at 1.4646 allow for a squeeze to the 9-day average at 1.4683. Hardly compelling stuff but that’s what we have to expect for a period of… more from... »

The subsidiary image shows a bearish candlestick structure accompanied by weakness of the upside correction, signaling that the pressure of the bigger picture Elliott sequence may start aggressively anytime as a normal result for the highly anticipated fifth wave scenario. Therefore we keep our intraday overview to the downside on… more from... »

The cable gradually inclined yesterday, to reach the correction level at 1.6035, which resides at the key resistance for the minor bullish channel, seen in the image above. The stochastic indicator has entered an overbought area, which makes us believe the pair is to decline on the intraday basis; targeting… more from... »

After a steep drop below the 90 price level, the USD/JPY has begun to find its feet and has recovered a large portion of the previous decline. Despite the positive gains, the current recovery is being hinder by resistance at the 90.26 price level. more from source »

The descending scenario of the Euro/Dollar is still intact as the currency couple went down to 1.4534 on Tuesday, than rising up to 1.4643 as expected, closing the day at 1.4584. On the 3 hour chart descending channel is formed. However, this morning, the European is correcting upwards. The nearest… more from... »