Forex news
Forex Technical Analysis
EUR/USD is in a downtrend, after peaking at1.5146 (Nov.25,2009). Technical indicators are neutral, and trading is situated between the 50- and 200-Day SMA, currently projected at 1.4793 and 1.4169. more from source »
Technical Analysis Daily: USD/JPY
Dollar/Yen climbed on Monday to the 91.05 top, where the ascending momentum was limited, and the currency couple continued dropping down to 90.58, closing the day at 90.76. On the 3 hour chart quotes are testing the lower limit of the upward channel, while on the 1 hour chart we… more from... »
Usd/Chf Bullish Bias
The wave count shwon on the swissy 4h chart signals for Usd strength in the near term, since a Short correction of a black wave B)/II) could already be finished at the 1.0129 support region; around the 61.8% retracement of the black wave A)/I) distance. more from source »
EURJPY: Pressured To The Downside, Targets The 129.19 Level
While the cross trades and holds below the 131.24 level, its Jan 06’10 low, we continue to see risk to the downside towards the 129.19 level, its Dec 22’09 low. A decisive break of that level will accelerate further downside towards the 127.29 level, its Dec 18’09 and possibly lower…. more from... »
GBPUSD: Breaks And Holds Above The 1.6409 Level
Further momentum build up saw GBP testing a high of 1.6456 as the time of this analysis today suggesting that a break and close above its key resistance at its Dec 16’09 high at 1.6409 is now shaping up. We are expecting two scenarios at this stage with the first… more from... »
FX Thoughts for the Day
The Cable has fallen as the Dollar has strengthened across most of the currencies after ZEW Economic Sentiment. The Cable first rose towards 1.6458 and has fallen thereafter. Further decline is likely to find Support near 1.6325. Having broken above the 1.6308-55 region on the upside yesterday, the pair has… more from... »
EURJPY: Pressured Builds On The 129.19 Level
While the cross trades and holds below the 131.24 level, its Jan 06’10 low, we continue to see risk to the downside towards the 129.19 level, its Dec 22’09 low. The fresh downside pressure is coming on the back of a sell off to as low as 129.26 today. If… more from... »
EUR/USD Test of Support
The EUR/USD is about to test the 1.4200 support. The daily chart’s price action shows very aggressive bearish candles after reaching 1.4600. In fact, with the stochastic showing heavy momentum, and not even over sold conditions, the market is hinting this may continue to the 1.40 area in the… more from... »
Chart Of The Day: USD/JPY
Price action on USD/JPY, a daily chart of which is shown, has displayed marked bearishness for more than a week, since the top of a parallel downtrend channel was reached and respected in early January. In the course of this bearishness, price broke down below a key intra-channel uptrend support… more from... »
EUR/GBP Revisiting the Big Picture
Daily: The EUR/GBP has completed invalidated the Bullish wave count we had been assessing the market with. Instead the market looks to be in a full Gartley retracement, which would be complete at the 0.86 (76.8% retracement). more from source »