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- GBU/USD Stalking Retracement?
published on Tue, 09 Feb 2010 09:36:34 +0100
The GBP/USD, like the EUR/USD, is showing signs of reversal, though not as aggressive. The Sterling looks weaker based on price action leading into the US session. However, if the market closes above 1.56 today, there might be some further correction rally. Looking at the Daily, the retracement can go... - EUR/USD Pause or Reversal?
published on Tue, 09 Feb 2010 09:19:44 +0100
The EUR/USD has reached its swing projection at 1.37, and dipped to 1.36 before pausing. In the daily time-frame, today’s price action is developing into a reversal combination. Then there might be a short-term (relative to daily chart) correction to the 1.40 area (38.2-50% retracement), which is coincident with downsloping... - Elliott Wave Charting: Gbp/Usd
published on Tue, 09 Feb 2010 08:46:27 +0100
An impulsive decline from the 1.6070 resistance area has found support at 1.5530. An upward bounce form that zone is expected to be a correction of a red wave iv), before the market can trade lower again. Once wave iv) is complete and 1.5533 is support taken out, a Short... - Elliott Wave Charting: Dollar Index
published on Tue, 09 Feb 2010 08:35:02 +0100
Overall View: Up-trend in process. 4 Hour Chart Flows: Long Price Points: 78.68, and 79.53 Looking for: Low of a correction. Momentum: The dollar index went into Long mode in early December and has found buying support and momentum, as equity markets sell off. - European Pair Review
published on Tue, 09 Feb 2010 08:32:17 +0100
Eur/Usd The four hour trend is short. The oversold reads on the near-term charts favor a long technical bounce. Daily charts have held deep oversold for 5 sessions, as the pair challenges the 38% retracement of the Jul 2008 drop from 1.6000 to 1.2300 in Oct 2008. That is the... - Dollar, Equity, Commodity Review
published on Tue, 09 Feb 2010 08:30:52 +0100
Euro and aussie have got ahead of themselves, and need to consolidate before the next move higher can be made on each, The trend is still long-Usd, and is now absorbing some equity buying that will test resolve. The major pairs are in 100 pip channels at the moment, with... - USDJPY: Sees Upside Strength
published on Tue, 09 Feb 2010 06:54:06 +0100
The pair may be strengthening but while the 91.27 level, its Jan 21’10 high at 91.86 and the 92.00 level, its channel top hold as resistance levels, we look for USDJPY to weaken back towards the 88.54 level, its Feb 04’10 low. On a decisive break below that level, the... - FX Thoughts for the Day
published on Tue, 09 Feb 2010 06:29:08 +0100
The Cable rose towards 1.5646 during the day and has come off since there after the UK Trade Balance numbers were not able to meet street expectations. A further fall may be contained near 1.5550-5500. If it does, there could be chances of some pull back towards 1.5700-30 over the... - Technical Analysis Daily: USD/JPY
published on Tue, 09 Feb 2010 05:11:07 +0100
Dollar/Yen is moving still within the well formed downward channel on the 1 hour chart. This week, the currency couple is trading hesitantly, testing the upper limit of the bearish channel at around 89.73. Persuasive break above that level may lead to direction change and strengthen the Dollar further towards... - GBPUSD - Prepares For Corrective Recovery
published on Tue, 09 Feb 2010 04:52:04 +0100
Immediate outlook for GBP has turned consolidative to corrective after selling off from the 1.6456 level on Jan 17'10 to 1.5556 low on Friday. While the pair retains its broader weakness triggered off the 1.7041 level, its Aug'09 high, risk of corrective recovery was seen in early trading today following... - EURGBP - Challenges The 0.8794 level
published on Tue, 09 Feb 2010 04:49:51 +0100
As further recovery is now seen following the cross's Friday strength, EURGBP was seen pushing through its minor resistance at the 0.8767 level, its Feb 01'10 high and then challenging its Jan 25'10 at 0.8793 in today's trading session. A decisive clearance of there is required to convince the market... - Forex Technical Analysis
published on Tue, 09 Feb 2010 04:10:36 +0100
EUR/USD is in a downtrend, after peaking at 1.5146 (Nov.25,2009). Technical indicators are neutral, and trading is situated below the 50- and 200-Day SMA, currently projected at 1.4793 and 1.4169. - Daily FX Report
published on Tue, 09 Feb 2010 03:24:36 +0100
Since the last week of January, the EUR has been trading in a sideways trend against the CHF. Recently, the currency pair touched its important Fibonacci Retracement line at 1.4654 (38.2%) and the prices recovered. Also a crossing MA Oscillator through the signal line from below may indicate a continuing... - Currency Pair Daily Forecasts
published on Tue, 09 Feb 2010 03:15:11 +0100
EUR/USD-market strategy indicates buying levels from the $1.3721 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 below the zero line. In order to find the power of the market, we use... - Technical Analysis Daily: GBP/USD
published on Tue, 09 Feb 2010 03:03:39 +0100
Pound/Dollar is trading hesitantly this week within the 1.5544 - 1.5669, closing yesterday at 1.5581. On the 1 hour chart the downward channel remains intact for now. The Pound, however is expected to render pressure on the Dollar, and any stronger upward corrections should not come unexpected. Break above the... - Japanese Yen In Trouble As EUR Looking To Recover
published on Tue, 09 Feb 2010 02:38:03 +0100
The yen and dollar fell on speculation European officials meeting this week will agree to assist Greece in tackling its deficit, reducing demand for the two currencies as a refuge. The euro rallied from near a one-year low versus the yen after a European Central Bank spokeswoman said President Jean-... - Forex Technical Analytics
published on Tue, 09 Feb 2010 02:00:29 +0100
The estimated test of key supports has been confirmed, however, relative rise of sales activity, marked by OsMA trend indicator, did not favor implementation of the pre-planned buying positions. Therefore, considering the developing technical picture from the position of incompleteness and probable rate range movement, we can assume reaching of... - FX Technical Analysis
published on Tue, 09 Feb 2010 01:37:47 +0100
EURUSD Comment: Everyone's current 'pet hate' and though bearish momentum is still terribly strong it does smack of a very crowded trade with almost record futures volume. Be careful and watch for signs of a dramatic reversal, so that we form a big 'spike low' probably this week. - Technical Analysis for Major Currencies
published on Tue, 09 Feb 2010 01:31:02 +0100
The euro versus dollar continued its attempts at bullishly correcting, where the neckline for the bullish technical pattern is at 1.3715 that supports this correction. From here, we see that the expected direction for today is bullish over an intraday basis; the start will be when the mentioned neckline is... - Forex Technical Update
published on Tue, 09 Feb 2010 01:26:18 +0100
Euro is currently trading at 1.3701 levels. Upside correction is expected till 1.3750. Do not initiate longs until we see 2 higher consequtive closings. Initiate shorts near 1.3750 levels with stoploss above 1.3800. Range for the day could be 1.3750 to 1.3480. (EURUSD - 1.3701) Bearish