Weekly Fundamental Forecast - 09.06.10
Mon, 04 Sep 2000 11:59:00 GMT

Dollar on the Verge of a Bearish Reversal as Support, Liquidity Dry Up

Euro Forecast Turns Bullish on S&P 500 Rallies – Test of 1.30 Likely

Japanese Yen: Currency Intervention Grows Ahead of BoJ Rate Decision

British Pound May Rise With Stocks But Seasonal Factors, BOE Threaten

Canadian Dollar Looks to BoC Rate Decision for Next Moves

Australian Dollar May Gain Further on RBA Expectations, S&P Strength

New Zealand Dollar Tracks Risk as Seasonal Forces Complicate Rebound

Gold Continues to March Higher Despite Positive Speculative Lean

 

Gold Continues to March Higher Despite Positive Speculative Lean
Mon, 04 Sep 2000 11:57:00 GMT

 

Dollar on the Verge of a Bearish Reversal as Support, Liquidity Dry Up
Mon, 04 Sep 2000 11:55:00 GMT

 

British Pound May Rise With Stocks but Seasonal Factors, BOE Threaten
Mon, 04 Sep 2000 10:11:00 GMT

 

Dollar Edges Lower as NFPs Solidify Investor Sentiment and Shake Out Remaining Volatility
Mon, 04 Sep 2000 10:05:00 GMT

Though liquidity was winding down quickly into the close of the week, we would nevertheless see a significant shift in the traditional market gauges for risk appetite Friday. With the help of a dubious nonfarm payrolls (NFP) report, risk appetite would start climbing before the US exchanges came online.

 

New Zealand Dollar Tracks Risk as Seasonal Forces Complicate Rebound
Mon, 04 Sep 2000 09:45:00 GMT

 

Australian Dollar May Gain Further on RBA Expectations, S&P Strength
Tue, 03 Sep 2002 08:42:00 GMT

 

Canadian Dollar Looks to BoC Rate Decision for Next Moves
Tue, 03 Sep 2002 08:40:00 GMT

 

Japanese Yen: Currency Intervention Grows Ahead of BoJ Rate Decision
Tue, 03 Sep 2002 08:38:00 GMT

 

Euro Forecast Turns Bullish on S&P 500 Rallies – Test of 1.30 Likely
Tue, 03 Sep 2002 08:34:00 GMT

 

NFPs Offer a Last Gasp of Volatility Before Liquidity Drains
Tue, 03 Sep 2002 07:51:00 GMT

 

Oil Tumbles as Speculative Interest Drops, Gold Curbed by Quiet Confidence
Tue, 03 Sep 2002 07:01:00 GMT

Neither oil nor gold would benefit from the carry through of risk appetite trends through the week’s close. With speculative interests fully drained for the extended holiday weekend, will traders rouse enough momentum to carry critical breakouts next week?

 

FX Technical Weekly 09-03
Tue, 03 Sep 2002 07:00:00 GMT

The trend towards risk is back. Take advantage through the AUDUSD and EURJPY.

 

Currency Crosses: Technical Outlook 09-03
Mon, 03 Sep 2001 15:12:00 GMT

Look to buy pullbacks in the Yen crosses next week.

 

A Sudden Gasp of NFP Volatility before Liquidity Drains
Mon, 03 Sep 2001 15:07:00 GMT

 

Forex Strategy Corner: Bollinger Bands Techniques for Trading
Mon, 03 Sep 2001 13:00:00 GMT

Bollinger Bands have long been one of the most popular technical indicators across financial markets, and many forex traders use them regularly in their day-to-day trading. The key question to ask of any forex analysis technique is nonetheless clear: how effective is the Bollinger Bands indicator as a forex strategy? This article will take a closer look at one key Bollinger Band trading strategy on several forex pairs and explores one way to improve its effectiveness.

 

Stopped out of EURUSD short
Mon, 03 Sep 2001 12:00:00 GMT

 

British Pound Testing Channel Resistance
Mon, 03 Sep 2001 11:54:00 GMT

 

Jamie's Pick: 09/03
Mon, 03 Sep 2001 11:44:00 GMT

 

Crude Working Towards 7700
Mon, 03 Sep 2001 11:37:00 GMT

 

Swiss Franc 10250 is Level to Watch
Mon, 03 Sep 2001 11:37:00 GMT

 

Gold Rolling Over…Finally?
Mon, 03 Sep 2001 11:37:00 GMT

 

Euro Support Starts at 12780
Mon, 03 Sep 2001 11:37:00 GMT

 

Japanese Yen Channel is Key
Mon, 03 Sep 2001 11:37:00 GMT

 

New Zealand Dollar Breaks from a Bullish Pattern
Mon, 03 Sep 2001 11:37:00 GMT

 

A quiet week with very thin market conditions
Fri, 03 Sep 2010 14:27:03 GMT

Overview A quiet week with very thin market conditions as summer holidays slowly end and we waited for August’s US Non-Farm Payroll (a better than expected –54K). Equity indices rallied, most erasing the losses of the last two or three weeks, Jakarta (3164) to a new record and Malaysia (1,441) its best since January 2008’s peak at 1,524. Currencies were mixed, yen (83.66) and Swiss francs (1.0065) originally in demand but reversing on Friday’s numbers, the Singapore dollar setting a new record

 

Forex - Waiting on Private Payrolls
Fri, 03 Sep 2010 13:46:37 GMT

Forex News and Events: Markets are anxious ahead of today’s critical payroll report. The Forex Market settled into an easy range during the Asian session and traders don’t seem to be in any kind of hurry to open new positions given the uncertainly of today’s US data. One of the core themes this summer has been the seesawing fate of the US economic data and the probability of a double dip in the wider global economy. It seems logical that markets would put a exorbitant amount of weight on

 

London Session
Fri, 03 Sep 2010 12:25:43 GMT

Currency markets are relatively quiet as traders are on the sidelines ahead of the key US employment report. The usual safe havens, the Swiss franc, Japanese yen and US dollar softened slightly as the rally in risk continued overnight. Asian stock markets extending gains and the Nikkei 225 advanced for the third straight session with a gain of +0.57%. European markets are trading mostly positive as of now. The main focus today is on the August employment report and specifically what the

 

The USD was mixed, losing ground to both the NZD and EUR
Fri, 03 Sep 2010 12:18:19 GMT

Currencies: JPY and CHF underperformed due to the rising positive sentiment in markets. The USD was mixed, losing ground to both the NZD and EUR. EUR/USD. Uncertainty ahead of non-farms EUR/USD (1.2838) is up slightly overnight and consolidating the sharp rally Wednesday. There is caution ahead of the non-farm payrolls report. Technicals: Trend: Daily higher; Weekly higher. Overbought/Oversold (stochastics): Daily oversold; Weekly neutral. Support / Resistance Levels: Support for EUR/USD lies

 

Forex - Chart USD/CAD Update: Range leaves Aug momentum intact
Fri, 03 Sep 2010 11:16:57 GMT

Published at  11:03  (GMT) 03 Sep 03 Sep USD/CAD Daily 7:00 EDT - USD/CAD managed to hold its ground above the 1.0494 supportyesterday, keeping a wide range intact (since late Aug). If 1.0494 continues holding, the Aug trend will remain the dominant tech. pattern and an eventual breakout past the Jul high remains in focus. Failure at 1.0494 has scope to 1.0435/340. MV R5: 1.071 late May cong.  R4: 1.0677 * Jul high R3: 1.0632 100% ext 05-12 Aug R2: 1.0574 * 26 Aug close R1:

 

The European bourses are up
Fri, 03 Sep 2010 10:16:22 GMT

The foreign currencies futures open little changed in the US ahead of the release of non-farm payrolls report. The report should be bad. In addition, the market will be quite thin ahead of the long weekend. The Asia/Pacific stock markets closed up, the European bourses are up, but the gold/spread is up as well, which shows the lack of conviction. The short-term outlook is sideways for all of the foreign currencies futures through the release of the US NMF report. After that, you will have to

 

Gold edges up ahead of U.S. payrolls
Fri, 03 Sep 2010 09:52:25 GMT

Headlines Crude higher on positive U.S. data, concerns about hurricane Earl and another rig fire Gold edges up ahead of U.S. payrolls Base metals gain across the board

 

The overall employment rate increased over the spring
Fri, 03 Sep 2010 07:08:36 GMT

Today’s Comment As usual, the US job report to be published today is the most important economic indicator of the week and the month, and after the slightly disappointing signals from the ADP employment figures on Wednesday, today’s figure will not attract less attention. The overall employment rate increased over the spring as more temporary workers were included in the counts, but when these were laid off at the end of June, we expect a slight decrease in the overall employment figure.

 

Forex - Flows - USD/TWD slipped; CBC denied contruction loans rates reports
Fri, 03 Sep 2010 07:02:25 GMT

Published at 06:51 (GMT) 03 Sep Prices continue to trade with a heavy bias into afternoon trades with the Taiex closing at +1.42% on US recovery hopes after last night's data though US Non-farm Payrolls should be the focus now. USD/TWD slipped to around the 31.950-mark at last indication; some focus on the news about rates for construction loans seen adding pressure: CBC has denied earlier reports in local newspaper that it is tightening construction loans financing - after it has asked for

 

Forex - Chart EUR/NOK Update: Lower start
Fri, 03 Sep 2010 06:55:19 GMT

Published at 06:48 (GMT) 03 Sep 03 Sep EUR/NOK Daily 07:40 - The EUR's still drifting : now not far off the Jul-Aug bracketlow, but with 7.80 to look at as well if that fails. Early positioning is weak but tight - there's no immediate pressure to extend lower this am. A bounce will stall at 7.92, on the1st push at least. [NR] R5: 8.05~ * fr 1-Jul range high volm R4: 8.0445 31-Aug high R3: 7.95~ fr May range mid. R2: 7.935 30-Aug low R1: 7.915 * fr 12-Aug high volume S1: 7.849 * 2-Aug low S2:

 

Forex - Chart GBP/USD Update: Still drifting. Tight range since Tues
Fri, 03 Sep 2010 06:30:50 GMT

Published at 06:10 (GMT) 03 Sep 03 Sep GBP/USD Daily 06:55 - GBP's little changed on Thurs and still inside Tues-Wed.'s setup : the market's probably waiting for a nudge from bigger players to set the next s/t trend. Ref. pts remain at 1.5465 and 1.5325. 3 Day pivot is 1.5390, so above that line is marginally bullish. Extension lower will head for 1.5285 or else below 1.52. [NR] R5: 1.59 * fr 2-Aug pivot R4: 1.5705 16-Aug high R3: 1.5570-95 * fr 12-Aug high volume R2: 1.55~ Mon sell accel R1:

 

Labour Day holidays in Canada and the US Monday 6th September
Fri, 03 Sep 2010 06:28:23 GMT

Quote: Florida: ‘Some people go there to enjoy life; I’d go there to die in perfect physical condition because there isn’t much else to do.’ Barbara Amiel (1940-) The News: The Bundesbank has voted to dismiss Thilo Sarrazin and has asked president Christian Wulff to remove him, the first time a board member has been sacked. He is likely to dispute this. The Numbers: British Summer Time, with expectations and previous figures in brackets. 00:50 JP Q2 Capital Spending –1.7%, Ex-Software –1.5% to

 

Forex - Chart USD/IDR Update: Tight intraday trading
Fri, 03 Sep 2010 06:24:09 GMT

Published at 06:03 (GMT) 03 Sep Tight intraday trading but the retreat from this week's corrective high of 9050 is still in focus and further slippage below 8990 support will expose setback to 8978 ahead of stronger 8962 congestion low. On the upside, only clearance above 9050 will revive broader corrective upmove. R5: 9095 6 Jul high R4: 9078

 

Forex - Chart EUR/USD Update: Tight range
Fri, 03 Sep 2010 05:39:46 GMT

Published at 05:24 (GMT) 03 Sep 03 Sep EUR/USD Daily 06:15 - Action has been choppy last 24 hours within relatively tight range with upside capped for now at 1.2848/55, last 2 days' highs. A break higher should target 1.2870/80 next. Within yesterday's range sup. is at 1.2790/95 then the day low at 1.2777.N. R4: 1.2923/32 * recent highs R3: 1.2902 * 19 Aug high R2: 1.2870/80 intraday level R1: 1.2848/55 * Wed/Thurs high S1: 1.2790/95 intraday level S2: 1.2777 * Thurs low S3: 1.2743 * Tues high

 

Asia Session
Fri, 03 Sep 2010 05:27:14 GMT

With US employment data looming in the not so far future as well as the three day weekend in the US, markets were calm and collected in range bound trading to end the week in Asia. Better than anticipated US unemployment data, (472K vs. 476K) and pending home sales data, (+5.2% vs. -1.3%) helped to boost risk and keep stocks lofted for the second day in a row. This mood carried over to Asia where stocks had modest gains, and risk remained level in a session that was almost sleep inducing as is

 

Australian Dollar Strength Undermined by Liquidity and Service Sector Lull
Fri, 03 Sep 2010 04:57:26 GMT

Trading conditions were relatively mixed between the US dollar and the many other speculative assets out there. The greenback would officially close Thursday’s session with a bearish performance on a trade-weighted basis; but the slide was especially modest. Dollar Retrenches into Congestion as a Questionable NFP Release and Holiday Weekend Approach Euro Little Moved by Fundamentals Thursday but Policy and GDP Data Important to Future British Pound Sees Its Questionable Advance Fall Apart

 

Indices Close with Solid Surge
Fri, 03 Sep 2010 04:45:34 GMT

Market Overview: The stock market indices had a strong start, consolidated mid-day, and ended the day with a very solid surge to close at the session highs going away and right at key overhead resistance near 1090 on the S&P 500 and 1840 on the Nasdaq 100. Progress was made today as the indices advanced 50.63 on the Dow at 10,320.10. The S&P 500 was up 9.81 at 1090.10. Nasdaq 100 up 20.53 at 1840.58. Advance-declines were a little better than 2 1/2 to 1 positive on the New York Stock

 

Powerful Uptrend for SLV
Fri, 03 Sep 2010 04:38:59 GMT

The iShares Silver Trust ETF (NYSE: SLV) acts very powerfully as the price structure continues to stair-step higher within a well-defined trend channel in the aftermath of the completion of the May-Aug. bullish coil pattern. The optimal target zone for the completion of the current upleg is 19.90-20.00. Only a decline that breaks and sustains beneath 18.95/90 will inflict meaningful damage to the upleg off of the Aug. 24 low at 17.39. From a micro chart perspective, a violation of 19.09 will

 

Market Morning Briefing
Fri, 03 Sep 2010 03:44:48 GMT

GOOD MORNING! EQUITIES The US Equities ended higher in the later part of the session yesterday. Markets were up after some favourable housing and jobs data releases which lifted the investor confidence. The markets will be closely following the much awaited US NFP data, due later today. The Dow (10320.10) was up 0.49% and the S&P 500 (1090.10) was up 0.91%. While above 10000, we may see the Dow move up towards 10700-50 in the coming weeks. The Asian Equities are mixed today. The Nikkei

 

The foreign currencies futures are consolidating quietly
Fri, 03 Sep 2010 02:14:24 GMT

The foreign currencies futures are consolidating quietly ahead of the release of the US non-farm payrolls report. The report should be bad. In addition, the market will be quite thin ahead of the long weekend. The Asia/Pacific stock markets and the gold/spread are up. The short-term outlook is sideways for all of the foreign currencies futures through the release of the US data. The medium-term outlook is sideways for most of the European and commodity currencies, amid general risk adversity.

 

Forex - EUR/USD, USD INDEX Flows - China reserves : 65% USD, 26% EUR, 5% GBP, 3% JPY
Fri, 03 Sep 2010 01:57:43 GMT

Published at 00:43 (GMT) 03 Sep Clearer picture on allocation of China's mammoth $2.4543trillion reserves, the world's largest. According to China Securities Journal, allocation is roughly : USD 65% ($1.595trln), EUR 26% ($638bln), GBP 5% ($123bln), JPY 3% ($74bln) = giving a total of 99%, with 1% for "others" = possibly AUD, NZD. On FX, good to watch for reports of China, Asian sovereign interest in FX, with talks of 2-way interest in EUR around 1.2750/1.2850, good bids at 1.2700/1.2600 lows.

 

Forex - Chart USD/JPY Update : Stuck in range below 84.67
Fri, 03 Sep 2010 00:50:18 GMT

Published at 00:39 (GMT) 03 Sep 03 Sep USD/JPY Daily Held the 84.00 level on setback from the 84.67, Wed's high, and more consolidation seen for now as range extends. Clearing the 84.55/67 highs will trigger further rally to extend recovery from the 83.66 low. Higher see more resistance at 84.85/92 and 85.46 ahead of 85.91 high. [P.L] R5: 85.91/92 * 30, 19 Aug highs R4: 85.46 27 Aug high R3: 84.85/92 intraday congestion R2: 84.55/67 * 2. 1 Sep highs R1: 84.46 hourly high S1: 84.00 2 Sep low

 

Daily Market Outlook
Fri, 03 Sep 2010 00:36:08 GMT

Market Review - 02/09/2010 22:47 GMT Euro rises due to solid European bond auctions ahead of U.S. non-farm payrolls The single currency strengthened against the greenback on Thursday, as solid results from Spanish and French bond auctions boosted risk appetite and gave support to euro, however, investors remained cautious ahead of the release of US non-farm payrolls.      Although the single currency moved sideways on Thursday after Wednesday's rally from 1.2663 to 1.2856

 

Forex - Chart AUD/USD Update : Retains firm bias, support at .9032/55
Thu, 02 Sep 2010 23:29:37 GMT

Published at 23:21 (GMT) 02 Sep 03 Sep AUD/USD Daily Levelling off at the .9117/22 highs though price action still supportive of more upside scope. Support is at .9075/80 then .9055 and .9032 area. Would take pullback under the latter to turn bias lower. Above the .9117/22 highs see next resistance at .9145/50 and .9165. [P.L] R5: .9223 * 6 Aug high R4: .9200/06 intraday level R3: .9165 * 10 Aug high R2: .9145/50 intraday level R1: .9117/22 1, 2 Sep highs S1: .9075/80 intraday level S2: .9055

 

The Swiss franc, the strongest European currency
Thu, 02 Sep 2010 22:12:12 GMT

The foreign currencies futures closed divergently on Thursday; the Swiss franc, the strongest European currency, avoided a bearish reversal and closed higher, while the pound closed lower following another negative housing report. The US stock markets closed up in thin trading and the gold/spread declined. This was an unexpected rise in appetite for risk, but this should end with the release of the US non-farm payrolls report. In addition, the market will be quite thin ahead of the long

 

New York Session
Thu, 02 Sep 2010 21:56:03 GMT

Risk continued to advance as U.S. stock markets extended yesterday’s gains, however the dollar traded relatively flat. This morning saw initial jobless claims decrease to 472K from the prior week’s 478K which was slightly better than the expectations of a 475K print. 2Q final nonfarm productivity softened to -1.8% from the prior -0.9% and July factor orders were released at +0.1% from the prior -0.6%. Pending home sales for July surprised to the upside with a rise of +5.2% from the previous

 

U.S. Forex Market Commentary
Thu, 02 Sep 2010 21:52:38 GMT

EURO The euro appreciated vis-à-vis the U.S. dollar today as the single currency tested offers around the US$ 1.2845 level and was supported around the $1.2775 level.  Today’s intraday low was right around the 38.2% retracement of the $1.1880 - $1.3335 level and chartists are eyeing the $1.2875 level as the pair’s next upside target.  Traders await tomorrow’s release of U.S. August non-farm payrolls data with many forecasts focusing on job losses of 100,000 last month.  This

 

Forex - Chart EUR/USD Update: Recovery still looks weak
Thu, 02 Sep 2010 19:12:51 GMT

Published at 17:02 (GMT) 02 Sep 02 Sep EUR/USD Daily 1:50 EDT - The mkt is struggling to keep its head above the 1.2817 extension. Its recovery off the Aug low remains weak relative to the preceding sell-off (still south of the 38.2% retracement at 1.2873) and is facing strong resistance up to 1.2935 -- a push below 1.2743 would re-ignite the Aug decline. MV R5: 1.2932/35 * recent highs/161.8% R4: 1.2902 * 19 Aug high R3: 1.2869/73 127.2% ext R2: 1.2855 01 Sep high R1: 1.2817 * 100% ext 24-27

 

US Dollar Forecast Turns Bearish vs Euro, Japanese Yen
Thu, 02 Sep 2010 17:34:47 GMT

The FXCM Speculative Sentiment Index is an excellent tool to gauge trader positioning and sentiment in the FX market. Unlike major equities or futures markets, there is no single centralized exchange for forex trading. Such decentralized activity makes finding uniform volume or open interest data impossible. DailyFX fills the gap by offering access to FXCM’s proprietary volume and positioning information—giving an unparalleled view of forex market sentiment. Learn How to Use the SSI.

 

Forex - TFX Margin Forex Positions
Thu, 02 Sep 2010 17:15:20 GMT

Published at 14:23 (GMT) 02 Sep

 

$/swiss, nearing multi-year support......
Thu, 02 Sep 2010 16:16:19 GMT

In the Aug 26th email on $/swiss, said despite the market just above support at the falling trendline from mid July, the near term downside pattern was not "complete", raising the potential for a downside break (and possible acceleration lower). Sold there (then at 1.0250), and the market has indeed broken and closed below that falling trendline (now resistance, currently at 1.0195/10, see daily chart below). However, the inability to accelerate lower (at least so far) and the approach of

 

Forex - Chart USD/JPY Update: Even today, centred on 84.50~
Thu, 02 Sep 2010 14:29:40 GMT

Published at 14:14 (GMT) 02 Sep 03 Sep USD/JPY Daily 14:55 - THE USD's remains tightly held, covering the 84/ 84.50 area for a 3rd session, with today setting up as an inside day. M/t trend is weak : still capped above 85.00 (this week) and with the rejection at the low last week already covered (ie. weakened)this week. But s/t, 84.60 is pivotal and the USD is bullish above it, for rally to 85.65 at least. [NR] R5: 86.25 * 16-Jul low R4: 85.90 30-Aug high R3: 85.75~ * fr 3-Aug high volume R2:

 

London Session
Thu, 02 Sep 2010 12:15:46 GMT

Markets consolidated after yesterday’s surge in risk with the dollar trading softer ahead of key events. While the ECB’s rate announcement is not likely to have a profound impact as the bank is widely expected keep rates at their current level of 1%, the press conference to follow may stir the markets. We will be looking for ECB President Trichet to address the bank’s decision on lending facilities as well as provide an updated economic forecast. The U.S. labor situation is back in focus as

 

Forex - Chart NOK/SEK Upddate: Move up in range
Thu, 02 Sep 2010 11:43:29 GMT

Published at 11:34 (GMT) 02 Sep 02 Sep NOK/SEK Daily 12:20 - NOK Seems to be edging ahead now- higher today & building upward off the Tues-Wed base. Look at resistance at 1.1815-25 (50% ret.) then at 1.1850 & 1.1900-25 : all high volume areas within the July-Aug range. The m/t downtrend is still weak : Aug's topcouldn't beat the May & June lows, so 1.20-2050 remains the key larger scale resistance here. [NR] R5: 1.1925 * fr 11-Aug pivpt R4: 1.1900 * fr 29-Jul high volume R3: 1.1845

 

The cold shower has already started
Thu, 02 Sep 2010 12:12:48 GMT

The foreign currencies futures consolidated overnight and open divergently in the US. The Swiss franc, the strongest the European currency, avoided a bearish reversal and opens higher, while the pound opens lower following another negative housing report. The Asia/Pacific stock markets closed up, the European bourses are slightly down, and the gold/spread is up. The US stock indexes are down in pre-open market. The appetite for risk was lovely on Wednesday, but let’s see how long this euphoria

 

Forex - Chart EUR/CAD Update: Rally intact above 1.3447
Thu, 02 Sep 2010 11:35:42 GMT

Published at 11:14 (GMT) 02 Sep 02 Sep EUR/CAD Daily 7:10 EST - EUR/CAD managed to hold its ground above 1.3447 yesterday, keeping the 19 Aug-present rally alive. Sustained trade above this level will give it another chance to test 1.3570+ (which must hold to prevent a move to the range ceiling near 1.3690). MV R5: 1.3688/92 * Aug, Jul highs R4: 1.3642 06 Aug close R3: 1.3600 figure R2: 1.3570 * cong, mid Aug break R1: 1.3522 27 Aug high S1: 1.3447 * 26 Aug close S2: 1.3400 cong. S3: 1.3388/83

 

Technical Major Currencies Midday Report
Thu, 02 Sep 2010 11:27:02 GMT

EURUSD The pair retested the areas mentioned this morning at 1.2770 and started to incline towards the expected bullish targets. Our expectations remain valid as far as 1.2770-1.2730 remain intact.   The trading range for today is among the major support at 1.2670 and the major resistance at 1.2950. The short term trend is to the downside as far as 1.3770 is intact with targets at 1.1700. Support 1.2770 1.2730 1.2675 1.2625 1.2600 ________________________________________ Resistance 1.2840

 

Higher equity markets send crude price up
Thu, 02 Sep 2010 10:32:55 GMT

Headlines Higher equity markets send crude price up Gold slightly lower after hitting multi-month highs U.S. and Chinese data increase base metals prices across the board Brent and Distillates Crude-oil mostly gained Wednesday, helped by improving data on U.S. and Chinese manufacturing and rising equities markets that overcame fears about increasing oil supplies. The department's Energy Information Administration reported crude-oil inventories rose by 3.4 mln.b in the week ended August 27.

 

Forex - FX Skittish Before ECB
Thu, 02 Sep 2010 10:16:10 GMT

Forex News and Events: The rally in risk appetite boosted by strong Chinese and Australian data yesterday was further encouraged after our last article by stronger than expected US ISM numbers. Forex risk correlated currencies, such as the Euro, moved lock-in-step with the data. EURUSD rallied above 1.2800 and the S&P climb above 1080. However, US rates weren’t invited to the party as players remained unsure – 10 yr yields did jump roughly 10 bps, but have since retraced The divergence

 

Forex - EUR/USD Flows - short of the highs as ECB, US data approach
Thu, 02 Sep 2010 10:01:29 GMT

Published at 09:48 (GMT) 02 Sep Both EUR/USD and Sep S&Ps remain short of yesterday's highs, and while we have the ECB policy decision and press conference to look forward to and a fair sprinkling of US data today, it's still tomorrow's US employment report that is key to bigger picture trading decisions. PB

 

EURUSD going up to ...1.30 ?
Fri, 03 Sep 2010 13:50:11 GMT

******************* EURUSD USD index is very weaken EUR index  is strong. then long eurusd entry  1.2850 stop loss  1.2730 upside target  1.2940 then 1.2990 ****************

 

Forex Market Outlook on Majors
Fri, 03 Sep 2010 09:59:08 GMT

INTRA-DAY GBP/USD : 1.5405 Last Update At 03 Sep 2010 09:29 GMT Despite cable's strg retreat fm 1.5452 due to the release of much weaker-than-expected U.K. CIPS services PMI, as broad outlook remains consolida- tive n as long as 1.5379/80 holds, a rebound is still likely but abv said res needed for 1.5492. Trade fm long side with stop as indicated, break wud risk weakness to 1.5350 sup. Range Forecast 1.5391 / 1.5435 Resistance/Support R: 1.5452/1.5492/1.5515 S: 1.5391/1.5350/1.5327

 

EUR/USD Daily Outlook
Fri, 03 Sep 2010 08:54:16 GMT

INTRA-DAY EUR/USD OUTLOOK Last Update At 03 Sep 2010 06:03 GMT Rate : 1.2825 Current price action suggests further 'choppy' sideways trading inside nr term established range of 1.2776-1.2856 wud continue ahead of the release of a series of eurozone econ. data n as long as said this week's high holds, a retreat is seen. For st trade, sell on marginal rise for 1.2805 or buy dips for 1.2840. Abv 1.2856, 1.2875/80. Range Forecast 1.2815 / 1.2840 Resistance/Support R: 1.2856/1.2873/1.2903 S:

 

long nzdusd
Fri, 03 Sep 2010 08:27:08 GMT

nzdusd long entry 0.7157 stop loss 0.7060 upside target 0.7230 at least *******************  

 

Forecast on Spot Gold (Spot Gold, NZDUSD, USDSGD)
Fri, 03 Sep 2010 06:39:36 GMT

Spot Gold SPOT GOLD  closed @ 12510 which was ABOVE the open and was within prior day's trading range. The High was 0.5 Dollars from Precise Trader's Res Tgt 2 and the Low was 2 Dollars from Precise Trader's Sup Zone 1.   The Hourly Oscillators are Bullish but Weak and the Price is Above the MA, so CAUTIOUS  approach is needed for the Bulls. Hourly Trend is Turning Down while 12650 holds and Daily Trend is Limited Up while 12225 holds, so expect the price  to Turn Down

 

Forecast on JPY Crosses (EURJPY, GBPJPY, AUDJPY)
Fri, 03 Sep 2010 06:38:02 GMT

EURJPY EURJPY closed @ 10805 which was UNCHANGED from the open and was within prior day's trading range. The High was PRECISELY at Precise Trader's Res Zone 1 and the Low was 10 pips from Precise Trader's Sup Tgt 1.   The Hourly Oscillators are Bullish but Weak and the Price is Within the MA, so CAUTIOUS  approach is needed for the Bulls. Hourly Trend is Sideways while 10675 holds and Daily Trend is also Sideways while 11120 holds, so expect the Price to be Choppy until

 

Forecast on USD Minors (USDCHF, AUDUSD, USDCAD)
Fri, 03 Sep 2010 06:34:17 GMT

USDCHF USDCHF closed @ 10130 which was BELOW the open and was within prior day's trading range. The High was PRECISELY at Precise Trader's Res Zone 1 and the Low was 10 pips from Precise Trader's Sup Tgt 1.   The Hourly Oscillators are MIXED and the Price is Below the MA, so CAUTIOUS  approach is needed. Hourly Trend is Sideways while 10220 holds and Daily Trend is Sideways Down while 10425 holds, so expect the Price to be Choppy until the Breakout.  The  Daily

 

Forecast on USD Majors (EURUSD, GBPUSD, USDJPY)
Fri, 03 Sep 2010 06:32:20 GMT

EURUSD EURUSD closed @ 12825 which was ABOVE the open and was within prior day's trading range. The High was PRECISELY at Precise Trader's Res Zone 1 and the Low was PRECISELY at Precise Trader's Sup Zone 1.   The Hourly Oscillators are MIXED and the Price is Above the MA, so CAUTIOUS  approach is needed. Hourly Trend is Sideways while 12750 holds and Daily Trend is Turning Up while 12580 holds, so expect the Price to be Choppy until the Breakout.  The   Daily

 

Daily technical outlook
Fri, 03 Sep 2010 05:38:53 GMT

EURUSD Trading strategy:  small long at 1.2780, stop at 1.2720(0.5% risk), 1st objective at 1.2830, 2nd objective at 1.2900 The euro is relatively quiet since yesterday, trading in a narrow range of 70 points, but holding gains above 1.2800. Upside is slightly favored and a pullback may provide a buying opportunity if former resistance at 1.2750 provides support. Sentiment is currently mixed and a break above 1.2900 should be seen as a bullish confirmation. We definitely could see more

 

The Brief Daily Forecaster
Fri, 03 Sep 2010 02:29:10 GMT

Bias:     There still remains a small risk of seeing 1.0207-27 but overall I prefer to see direct losses Please read the attached PDF file which provides more detailed analysis

 

USD/JPY Daily Outlook
Fri, 03 Sep 2010 02:04:19 GMT

INTRADAY TRADING SIGNAL BY ACETRADER.COM: USD/JPY USD/JPY : 84.28 Last Updat e At  02 Sep 2010 23:01 GMT Although dlr is likely to move inside near term established range of 83.66-84.67 in Asia after yes- terday's sideways move, current price action sug- gests as long as 84.00 (y'day's low) holds, upside bias remains for dlr to stage another bounce. Buy again on dips for 84.45 but reckon res 84.67 wud cap upside. Below 84.00 may risk 83.66/70. Range Forecast 84.10 / 84.40

 

silver, gold , eur, gbp, usd , aud : what is the best trade ?
Thu, 02 Sep 2010 19:54:59 GMT

September 2, 2010 19.49gmt Thursday *********** EUR = gradually strong GBP = weakening USD = weakening AUD = strong NZD = strong CHF = very strong silver =  the strongest gold = strong ************ now great trade is silver as the best one,  and then gold. Impact of silver is pushing gold will go up too. If EURUSD break above 1.2880,   Therefore , there is possible that eurusd will go up to test 1.3100  before any down or up more. ***************

 

Forex Market Outlook on Majors
Thu, 02 Sep 2010 10:02:35 GMT

INTRA-DAY GBP/USD : 1.5400 Last Update At 02 Sep 2010 09:51 GMT Present anticipated rebound after intra-day brief but strg retreat to 1.5372 suggests consoli- dation with upside bias wud be seen n gain to 1.54 25/30 is likely, however, reckon 1.5452 shud cap upside n yield further choppy trading. Buy again on dips with stop as indicated, break stop as indicated, break wud risk 1.5327. Range Forecast 1.5374 / 1.5415 Resistance/Support R: 1.5452/1.5492/1.5510 S: 1.5372/1.5327/1.5300

 

EUR/USD Daily Outlook
Thu, 02 Sep 2010 06:55:06 GMT

INTRA-DAY EUR/USD OUTLOOK Last Update At 02 Sep 2010 06:35 GMT Rate : 1.2815 Euro's retreat fm y'day's high of 1.2856 sug- gests consolidation with mild downside bias wud be seen, however, as long as 1.2780 (prev. res) holds, a rebound is still likely but abv said res needed to signal rise fm 1.2588 has resumed, 1.2890/00. Remain as cautious buyer n only below 1.2744 wud signal upmove fm 1.2588 has formed a top y'day. Range Forecast 1.2790 / 1.2814 Resistance/Support R: 1.2814/1.2856/1.2890 S:

 

Forecast on Spot Gold (Spot Gold, NZDUSD, USDSGD)
Thu, 02 Sep 2010 06:08:10 GMT

Spot Gold SPOT GOLD  closed @ 12440 which was BELOW the open and was within prior day's trading range. The High was 0.5 Dollars from Precise Trader's Res Tgt 1 and the Low was 1 Dollars from Precise Trader's Sup Zone 1.   The Hourly Oscillators are Bearish but Weak and the Price is Above the MA, so CAUTIOUS  approach is needed for the Bears. Hourly Trend is Limited Up while 12340 holds and Daily Trend is also Limited Up while 12225 holds, so expect the price to have a

 

Forecast on JPY Crosses (EURJPY, GBPJPY, AUDJPY)
Thu, 02 Sep 2010 06:06:52 GMT

EURJPY EURJPY closed @ 10815 which was ABOVE the open and breached the previous day's high. The High was 15 pips from Precise Trader's Res Tgt 2 and the Low was 5 pips from Precise Trader's Sup Zone 1.   The Hourly Oscillators are Bullish but Weak and the Price is Within the MA, so CAUTIOUS  approach is needed for the Bulls. Hourly Trend is Sideways while 10645 holds and Daily Trend is also Sideways while 11120 holds, so expect the Price to be Choppy until Breakout.  The

 

Forecast on USD Minors (USDCHF, AUDUSD, USDCAD)
Thu, 02 Sep 2010 06:05:17 GMT

USDCHF USDCHF closed @ 10160 which was ABOVE the open and was within prior day's trading range. The High was PRECISELY at Precise Trader's Res Zone 1 and the Low was 10 pips from Precise Trader's Sup Tgt 2.   The Hourly Oscillators are Turning Bullish and the Price is Within the MA, so the Bears have to be CAUTIOUS. Hourly Trend is Turning Up while 10065 holds and Daily Trend is Limited Down while 10375 holds, so expect the Price  to Turn Up Soon, so the Bears may stay Sidelined

 

Forecast on USD Majors (EURUSD, GBPUSD, USDJPY)
Thu, 02 Sep 2010 06:03:40 GMT

EURUSD EURUSD closed @ 12810 which was ABOVE the open and breached the previous day's high. The High was PRECISELY at Precise Trader's Res Tgt 3 and the Low was 15 pips from Precise Trader's Sup Zone 1.   The Hourly Oscillators are Bullish and the Price is Above the MA, so the Bears have to be Sidelined. Hourly Trend is Sideways Up while 12715 holds and Daily Trend is Turning Up while 12580 holds, so expect the Price to be Choppy with a  potential to Break Higher.  The

 

Daily technical outlook
Thu, 02 Sep 2010 05:40:08 GMT

Quote of the day : A deception that elevates us is dearer than a host of low truths. — Marina Tsvetaeva EURUSD Trading strategy:  small long at 1.2740, stop at 1.2680 (0.5% risk), objective at 1.2900 The euro recovered some losses, breaking above the 1.2750 resistance region, following the risk pairs which rallied yesterday. Euro’s recovery was also favored by EURCHF which switched direction, recovering from the record low at 1.2850 – as a result of gold’s pullback from recent high

 

USD/JPY Daily Outlook
Thu, 02 Sep 2010 03:10:14 GMT

INTRADAY TRADING SIGNAL BY ACETRADER.COM: USD/JPY USD/JPY : 84.15 Last Updat e At  02 Sep 2010 02:19 GMT Despite y'day's cross-inspired rally to 84.67 in NY, cross-unwinding in yen in Tokyo has continued to pressure dlr, however, reckon 84.00/10 wud con- tain present retreat n yield another bounce but rec kon said y'day's high wud hold in Asia. Trade fm long side with stop as indicated n only below 83.83 wud risk re-test of 83.66. Range Forecast 84.10 / 84.40 Resistance/Support R: 84.67 /

 

The Brief Daily Forecaster
Thu, 02 Sep 2010 03:03:32 GMT

Bias:     I can't see that the upside is complete - watch for support at 0.9014 and for a new high Please read the attached PDF file which provides more detailed analysis

 

Silver : Bullish is just begining
Wed, 01 Sep 2010 15:24:14 GMT

September 1, 2010 wed, 15.20gmt ********* Silver  spot Best chart of today Long Its bullish is just begining  . entry 19.32 stop loss 18.70 upside target  20.90 at least ****************

 

Forecast on Spot Gold (Spot Gold, NZDUSD, USDSGD)
Wed, 01 Sep 2010 06:35:55 GMT

Spot Gold SPOT GOLD  closed @ 12480 which was ABOVE the open and breached the previous day's high. The High was PRECISELY at Precise Trader's Res Zone 5 (U Turn Zone) and the Low was PRECISELY at Precise Trader's Sup Tgt 1.   The Hourly Oscillators are Bullish but Overbought and the Price is Above the MA, so CAUTIOUS  approach is needed for the Bulls. Hourly Trend is Limited Up while 12260 holds and Daily Trend is also Limited Up while 12210 holds, so expect the price to

 

Forecast on JPY Crosses (EURJPY, GBPJPY, AUDJPY)
Wed, 01 Sep 2010 06:34:26 GMT

EURJPY EURJPY closed @ 10675 which was BELOW the open and breached the previous day's low. The High was 5 pips from Precise Trader's Hrly Level and the Low was 5 pips from Precise Trader's Sup Tgt 1.   The Hourly Oscillators are Turning Bullish and the Price is Within the MA, so the Bears have to be CAUTIOUS. Hourly Trend is Turning Up while 10620 holds and Daily Trend is Sideways while 11120 holds, so expect the Price  to Turn Up Soon, so the Bears may stay Sidelined and the

 

EUR/USD Daily Outlook
Wed, 01 Sep 2010 06:34:09 GMT

INTRA-DAY EUR/USD OUTLOOK Last Update At 01 Sep 2010 06:22 GMT Rate : 1.2720 Euro's rebound fm 1.2661 (NY) to 1.2716 suggests further choppy sideways trading wud be seen but as long as y'day's high of 1.2744 holds, consolidation with downside bias remains for another drop but be- low said sup needed for re-test of 1.2625 sup. Sell on marginal rise n exit on decline as below 1.2661 needed to extend weakness to 1.2640/45. Range Forecast 1.2690 / 1.2720 Resistance/Support R: 1.2720/1.2744/1.2780

 

Forecast on USD Minors (USDCHF, AUDUSD, USDCAD)
Wed, 01 Sep 2010 06:32:55 GMT

USDCHF USDCHF closed @ 10150 which was BELOW the open and breached the previous day's low. The High was 25 pips from Precise Trader's Res Zone 1 and the Low was PRECISELY at Precise Trader's Sup Zone 5 (U Turn Zone).   The Hourly Oscillators are Bearish but Weak and the Price is Below the MA, so CAUTIOUS  approach is needed for the Bears. Hourly Trend is Limited Down while 10235 holds and Daily Trend is also Limited Down while 10400 holds, so expect the Price to have a Minimum

 

Forecast on USD Majors (EURUSD, GBPUSD, USDJPY)
Wed, 01 Sep 2010 06:29:34 GMT

EURUSD EURUSD closed @ 12680 which was ABOVE the open and was within prior day's trading range. The High was 15 pips from Precise Trader's Hrly Level and the Low was 10 pips from Precise Trader's Sup Tgt 1.   The Hourly Oscillators are Bullish but Weak and the Price is Within the MA, so CAUTIOUS  approach is needed for the Bulls. Hourly Trend is Sideways while 12585 holds and Daily Trend is also Sideways while 12935 holds, so expect the Price to be Choppy until the

 

Daily technical outlook
Wed, 01 Sep 2010 05:41:01 GMT

EURUSD Trading strategy : standing aside Range-bound trading continues as the upside was capped by 1.2740 yesterday but support around 1.2650 was also stable. Recent euro’s losses against the Swiss franc and the yen are contributing to its weakness against the dollar, too – and current EURCHF and EURJPY studies don’t look too good to those expecting a decent recovery. Intra-day sentiment is slightly bullish at the time of writing, as the euro holds overnight gains not far below yesterday’s top

 

The Brief Daily Forecaster
Wed, 01 Sep 2010 02:16:03 GMT

Bias:      I see potential for initial losses to 1.0575-90 max 1.0538-55 before another rally Please read the attached PDF file which provides more detailed analysis

 

USD/JPY Daily Outlook
Wed, 01 Sep 2010 02:00:01 GMT

INTRADAY TRADING SIGNAL BY ACETRADER.COM: USD/JPY USD/JPY : 84.33 Last Updat e At  01 Sep 2010 00:56 GMT Despite dlr's cross-inspired selloff fm 84.61 to 83.83 in NY session, subsequent rebound suggests initial consolidation is in store in Asia with mild upside bias, however, reckon 84.61 wud cap intra- day rise n yield another decline 'later' today. Buy dips for st trade for 84.40 or sell if dlr rises to 84.50 for 84.10. Below 83.83, 83.58/60. Range Forecast 84.00 / 84.30

 

We expect the GDP second estimate to be close to 4.6% y/y
Tue, 31 Aug 2010 17:36:47 GMT

Real economy and price development September data spree will begin with a detailed 2Q GDP release. The flash estimate is rarely revised by more than one tenth of a point, so we expect the second estimate to be close to the preliminary estimate of 4.6% y/y. Judging by foreign trade data net exports were rather negative contributor to the growth, and household consumption likely virtually stagnated due to high unemployment. Therefore, investments especially inventories were the biggest

 

Short GBPUSD for 1.50-1.49 target at least
Tue, 31 Aug 2010 12:16:30 GMT

********** GBPUSD good chart short entry 1.5380 stop loss 1.5670 Downside target 1.5050, then 1.4920 *********

 

Bernanke Bounce on Friday
Tue, 31 Aug 2010 07:20:07 GMT

Last week’s currency trading review The Dollar finished the week of a weak footing after Bernanke’s speech at the Jackson Hole Symposium helps risk asset’s rally on Friday. Earlier in the week safe haven flows had supported the Dollar and most pairs tested month lows led by the Euro. Existing Home Sales slumped 27% to 3.83m in July. The Euro managed small gains on better than forecast German IFO in August and Dollar Selling on Friday. EUR/JPY was also a big mover as the USD/JPY reacts to BOJ

 

Forecast on Spot Gold (Spot Gold, NZDUSD, USDSGD)
Tue, 31 Aug 2010 06:23:48 GMT

Spot Gold SPOT GOLD  closed @ 12365 which was BELOW the open and was within prior day's trading range. The High was 1.5 Dollars from Precise Trader's Res Zone 1 and the Low was 0.5 Dollars from Precise Trader's Sup Zone 1.   The Hourly Oscillators are MIXED and the Price is Within the MA, so CAUTIOUS  approach is needed. Hourly Trend is Turning Down while 12505 holds and Daily Trend is Limited Up while 12105 holds, so expect the price  to Turn Down Soon, so the Bulls

 

Forecast on JPY Crosses (EURJPY, GBPJPY, AUDJPY)
Tue, 31 Aug 2010 06:22:04 GMT

EURJPY EURJPY closed @ 10715 which was BELOW the open and was within prior day's trading range. The High was PRECISELY at Precise Trader's Res Tgt 1 and the Low was PRECISELY at Precise Trader's Sup Tgt 3.   The Hourly Oscillators are Bearish and the Price is Below the MA, so the Bulls have to be Sidelined. Hourly Trend is Sideways Down while 10765 holds and Daily Trend is Sideways while 11035 holds, so expect the Price to be Choppy with a  potential to Break Lower.  The

 

Forecast on USD Minors (USDCHF, AUDUSD, USDCAD)
Tue, 31 Aug 2010 06:20:08 GMT

USDCHF USDCHF closed @ 10265 which was BELOW the open and was within prior day's trading range. The High was PRECISELY at Precise Trader's Res Zone 1 and the Low was PRECISELY at Precise Trader's Hrly Level.   The Hourly Oscillators are Bearish and the Price is Below the MA, so the Bulls have to be Sidelined. Hourly Trend is Sideways Down while 10315 holds and Daily Trend is Sideways while 10560 holds, so expect the Price to be Choppy with a  potential to Break Lower.  The

 

Forecast on USD Majors (EURUSD, GBPUSD, USDJPY)
Tue, 31 Aug 2010 06:17:28 GMT

EURUSD EURUSD closed @ 12665 which was BELOW the open and breached the previous day's low. The High was 15 pips from Precise Trader's Res Zone 1 and the Low was PRECISELY at Precise Trader's Hrly Level.   The Hourly Oscillators are Bearish and the Price is Below the MA, so the Bulls have to be Sidelined. Hourly Trend is Sideways Down while 12725 holds and Daily Trend is Sideways while 12935 holds, so expect the Price to be Choppy with a  potential to Break Lower.  The Daily

 

EURUSD : USD become more strong
Tue, 31 Aug 2010 05:57:04 GMT

I remain favour   JPY strong,   USD  strong [except in usdjpy]. ********** EURUSD short it should stay under 1.2900 all of this week, then  finally go down more. entry 1.2690 stop loss 1.2900 downside target1.2500 then 1.2350 ***********

 

Daily technical outlook
Tue, 31 Aug 2010 05:29:23 GMT

EURUSD Trading strategy : small short at 1.2720, stop at 1.2780(0.5% risk), objective at 1.2620 Support at 1.2650 is again under pressure as the euro failed to maintain its course, erasing most of last week’s gains. Next downside barrier comes below 1.2650 at 1.2590/05 which is also the 50% retracement of 1.1875-1.3335. Short-term studies are bearish and will remain that way while 1.2900 is not affected by any rallies. Upside correction will probably face more selling around 1.2700/20. Today’s

 

The Brief Daily Forecaster
Tue, 31 Aug 2010 02:19:44 GMT

Bias:      Watch the 84.83 area which - while it caps - should trigger losses back to 83.39-58 else revert to the upside again Please read the attached PDF file which provides more detailed analysis

 

Forex Trade Setups Commentary - EURUSD inside bar, USDJPY pin bar 9-3-10
Sat, 04 Sep 2010 06:32:59 GMT

The EURUSD formed an inside bar yesterday that we posted up in our member’s forum shortly after it closed out. The inside bar came off to the upside today as anticipated. We are not sure how much gas the EURUSD has left in its tank, it might consolidate for a while before pushing higher and trying to challenge the overhead resistance near 1.2930 which is a pretty obvious level. We would need to see this level reclaimed and steady bullish trend development if this pair is going to test the July

 

Currency Pick of The Week
Fri, 03 Sep 2010 21:37:20 GMT

The S&P 500 Index perform well on the back of a much better than expected payroll number caught market participants off sides as many traders did not believe the strength of economic data points earlier in the week (ISM, Jobless Claims, Pending Homes Sales), and are now forced to cover short positions.  The employment data was better than expected.  The overall headline Non-farm payroll report was a loss of 54,000 jobs.  The private sector added 62 thousand jobs, while the

 

AUD/USD: Risk on, risk off
Fri, 03 Sep 2010 14:24:48 GMT

Having reached an intraday high around 0.9175, also fresh 3 weeks highs, Australian dollar is still quite attached to American indexes: losing momentum after worse than expected  PMI data in the US, and with hourly momentum losing strength, while RSI shows overbought readings, pair could trigger a bearish corrective movement, once under 0.9140, aiming to test 0.9100/10 area first, and 0.9070 later today. To the upside, pair needs to accelerate above 0.9180, to confirm a continuation rally,

 

EUR/GBP Developing a Double Top
Fri, 03 Sep 2010 14:12:32 GMT

EUR/GBP Developing a Double Top; Reward to Risk Assessment Day: The daily chart shows the EUR/GBP going up against a declining trendline. The market is reacting by pausing the rally at 50% retracement, 0.8350 level. Note the RSI is remaining under 60 for now and is turning lower. The 0.8400 area is 61.8% retracement, and is the resistance zone for this pair. Will the market extend a little further ? Or will there be topping action here at 0.8350? In any case, the bearish scenario is invalid if

 

AUDUSD: Maintains Above The 0.9078 Level
Fri, 03 Sep 2010 12:35:26 GMT

In This Issue: AUDUSD: The pair remains biased to the upside having held firmly above the 0.9078 level.... AUDUSD AUDUSD: Maintains Above The 0.9078 Level. AUDUSD: The pair remains biased to the upside having held firmly above the 0.9078 level. This has created scope for more upside towards the 0.9219 level. While this level may present a considerable resistance on initial test, we believe it should give way for a run towards its May 04’10 high at 0.9265. A clean penetration of that level will

 

EUR/USD Range ahead of Payrolls
Fri, 03 Sep 2010 10:24:07 GMT

Pair has spent most of the last 2 days, trading in a tight range between 1.2780 support (38.2% retracement of the daily rally 1.1870/1.3330) and 1.2855 weekly high. Range had become even thinner ahead of US employment data, turning 4 hours indicators flat due to the lack of definitions. However the pair holds a slightly bullish tone: quoting above 200 EMA acting as dynamic support, and with 20 SMA under current price heading north; still, today’s data could distort all technical analysis.

 

Intraday Market Outlook for Day Traders
Fri, 03 Sep 2010 10:00:43 GMT

EUR/USD After a rather undecisive Asian session today, the pair seems to be keeping a slight buying tone in the European morning, trying right now at 1.2835 to break the 1.2840 level. We see this level being surpassed today, but the upside potential limited at 1.2875. GBP/USD The pound is in a timid short-term uptrend since yesterday against the dollar, currently trading back a little at 1.5410. We expect the mild bidding tone to sustain today and the market to reach levels around 1.5475.

 

USDJPY low trading range continues
Fri, 03 Sep 2010 07:26:18 GMT

AUDUSD - It looks like bulls have issues to continue climbing towards new highs. Look for selling options below support level. EURUSD - Bulls looking forward to extend their previous rally, however neutral situation is still valid. EURGBP - Bulls showed recently very strong power, however, bears trying to decline the price now. Buying options are still on a table. NZDUSD - Bulls recovering easily back to resistance, if bulls won't manage to breakout at resistance look for a rebound back to

 

Buckle up! It's non-farm payroll day
Fri, 03 Sep 2010 07:00:00 GMT

Most currencies take a breather beforehand MAJOR HEADLINES – PREVIOUS SESSION US Q2 Final Non-farm Productivity out at -1.8% vs. -1.9% expected and -0.9% prior US Initial Jobless Claims out at 472k vs. 475k expected and revised 478k prior US Continuing Jobless Claims out at 4456k vs. 4450k expected and revised 4479k prior US Jul. Factory Orders out at +0.1% m/m vs. 0.2% expected and revised -0.6% prior US Jul. Pending Home sales out at +5.2% m/m, -20.1% y/y vs. -1.0% expected and revised

 

Silver: Climb higher after buying support was found along 19.33
Fri, 03 Sep 2010 06:48:27 GMT

After a brief correction lower on August 30, Silver was able to continue its climb higher after buying support was found along 19.33 and prior resistance at 19.52 was broken. The acceleration higher shows that the bulls are ready to challenge the May 13 high—also a one-year high—at 19.84. The momentum that might accompany a break of such a psychological level could attract even more buying momentum. The 15-minute chart shows the near-term strength currently in Silver. The Rising Wedge pattern

 

The downtrend on the USD/CHF continues
Fri, 03 Sep 2010 06:44:53 GMT

The downtrend on the USD/CHF continues. Downtrends present three possible entry opportunities: continuation, correction, or reversal. Due to the downtrend’s strength it’s very likely that a continuation and/or a correction (also known as a Retracement) will occur. The decision to focus on more selling pressure comes primarily from the Channel Down pattern alert, though also from the seven-bar Autochartist Initial Trend reading that accompanies it. The Initial Trend reading signals that

 

Australia 200: Trending higher since making a low at 4312 on August 24
Fri, 03 Sep 2010 06:37:58 GMT

The Australia 200 has been trending higher since making a low at 4312 on August 24. The rally has carried the index to what could be a triple top on the daily time frame, with previous highs at 4622 and 4598. However, the continuation higher could first pull back before the bulls are ready to rally again, and this correction could begin with a break below 4562—this is the current price of the Triangle’s uptrend line support on the 15-minute time frame. The pullback itself, though, could be

 

Index Recommended Levels
Fri, 03 Sep 2010 06:21:12 GMT

Dow Jones : Resistance ( daily close ) : 9382.12, 9744.26, 10 091.30, 10 935.23 , 11 164.57, 344.92 and 11 520.30. Then 11 749.22, 11 970.00, 12 152.82, 12 600.24, 12 982.20, 13 162.50 and 13 320.00. Break of the latter will lead to 13 567.60, 13 668.74 and 13 792.53 ( published on October 21, 2008). Support ( daily close ): 9630.33 and 9358.35(main), 9090.00, 8912.62 ( published on November 10, 2009) . Today’s support: - 10212.19 and 10181.25 (main), where a delay and correction may happen.

 

Eur/Usd stayed within a narrow range yesterday
Fri, 03 Sep 2010 06:17:07 GMT

EUR/USD Eur/Usd stayed within a narrow range yesterday, leaving the outlook unchanged.. We came higher yesterday, reaching 1.2848. We have support at 1.2780 and as long as we can maintain above here we should trade higher. We should be able to continue higher with 1.2850/60 once more targeted. Buyers are advised to cover ahead of this resistance. Sellers are expected here, and this should prove to be quite a difficult barrier to break. However if we do break 1.2860 buyers would be back into

 

USD Modestly Lower Ahead of Employment Data
Fri, 03 Sep 2010 04:33:20 GMT

The dollar traded mostly lower on Thursday ahead of important US employment data on Friday. The dollar index, down for six out of the last seven days, is approaching the important 82 support. If this support holds, a short-term USD rally may occur. Treasuries weakened. US pending home sales unexpectedly rose in July and initial jobless claims declined for a second week, easing concern about slowing US economic growth. The S&P 500 gained 9.81 to 1,090.10. The USD/JPY was down modestly.

 

Forex Trade Setups Commentary: GBPJPY inside bars 9-2-10
Fri, 03 Sep 2010 01:29:00 GMT

The GBPJPY has formed 2 consecutive inside bars, indicating that this market is winding up tight for a possible strong break out move. The trend is down so we would have to favor the downside right now. However, given the fact that support sits close below near 127.65, we do not really see a large reward relative to risk. Ideally, we would look for this inside bar setup to break higher and run into resistance near 132.00 and subsequently form a bearish price action setup. In which case we

 

GBP/USD: Bouncing back towards 1.5420
Thu, 02 Sep 2010 14:57:55 GMT

After testing 1.5350 intraday low, pair is bouncing back strongly heading towards the 1.5420 immediate resistance zone, as per 20 SMA in the 4 hours chart. Barely supported by technical indicators that lack strength, pair needs to at least open an hourly candle above that level, to confirm an upward continuation, towards 1.5460/70 resistance zone. Still be aware, in about a couple of hours, market will likely begin reducing volume ahead of tomorrow’s Nonfarm Payrolls data in the US. Only under

 

USD/CAD – Will 1.05 Hold?
Thu, 02 Sep 2010 14:34:35 GMT

USD/CAD – Will 1.05 Hold? Day and 4H: The USD/CAD was not able to break above channel resistance, and is attempting to top off. The 1.05 is the base for the possible double top developing. The 4H chart shows the reading struggling to go below 40. A break below 40 can invalidate the bullish signal of the RSI breaking above 70 on August 24. You can read more about the downswing projection in  yesterday’s USD/CAD update. I will now look at the lower time-frames to stalking the attempt to

 

Stalking EUR/GBP as it Nears Resistance
Thu, 02 Sep 2010 13:55:50 GMT

Stalking EUR/GBP as it Nears Resistance Day and 4H: The EUR/GBP rallied past the 0.8320 target set in the  August 31st EUR/GBP update . The surge is heading up against resistance at the 61.8% retracement level at 0.8380. It is at 50% at the moment and also testing a declining trendline. Also note that the 0.8400 level is an important powerline. This is also apparent in the weekly chart below. The RSI in the day chart is threatening to break 60, which means it is breaking the bearish

 

EUR/USD: Slowly regaining the upside
Thu, 02 Sep 2010 10:45:25 GMT

Pair completed as expected, a pullback towards the Fibonacci support area, exactly at 1.2777, and resumed its bullish momentum, thus still not strong enough to accelerate above yesterday’s high, 1.2855 and immediate resistance zone. Hourly indicators are still bullish, as well as 4 hours ones, suggesting rally could extend once above the 1.2860 resistance zone, aiming to test 1.2890/1.2910 price zone. Under 1.2760, the intraday bullish trend could falter, aiming for a retest of the 1.2710/30

 

The initial follow-through lower was slow
Thu, 02 Sep 2010 10:41:24 GMT

The likelihood for a continued slide in the US Dollar Basket after price broke the 83.00 level early on in the Wednesday session, is going to be challenged by the support between 82.53 and 81.95 (F). This area is the Autochartist Forecast from the Triangle breakdown through 82.94 on the 240-minute time frame. The initial follow-through lower was slow but the sell-off came suddenly despite a weak pierce of the pattern that registered only a two-bar Breakout reading. The US Dollar Basket

 

Intraday Market Outlook for Day Traders
Thu, 02 Sep 2010 10:10:44 GMT

EUR/USD The pair is in a consolidation phase of its higher levels in early European trading, currently at 1.2835. We do not expect much market activity today and project a trading band between 1.2840 and 1.2780. GBP/USD Cable is in a selling market in this European morning, quoted right now at 1.5402. While we see the downside risk limited now at 1.5360, we reckon with some upside potential today, but not above 1.5425. USD/CHF A weaker dollar against the Swiss franc is currently trading at

 

The bulls certainly enjoyed the August 2 move
Thu, 02 Sep 2010 08:16:54 GMT

U.S. Light Crude enjoyed its largest single-day rally since the climb through 80.00 on August 2. While the bulls certainly enjoyed the August 2 move, the rally throughout Wednesday’s session was markedly more important in terms of establishing buying support near the bottom of a large intraday Triangle on the 240-minute time frame. After a steady fall through the month of August, bulls stepped in to support the previous range of lows between 71.10 and 70.75—this kept the Triangle’s lower line

 

The initial pattern break yielded an 80-pip follow-through
Thu, 02 Sep 2010 08:13:20 GMT

The AUD/USD rallied from 0.8911 to the current level of 0.9107 by the end of Wednesday’s session. This steep ascent was the result of the Australian Dollar’s strength versus a very weak U.S. Dollar as U.S. equities rallied throughout the trading day. The Triangle breakout from 0.9020 pushed the AUD/USD higher towards prior resistance at 0.9080; this was quickly broken as the bulls continued to rally the pair through the “big figure” of 0.9100, where prices have now stalled. The 240-minute time

 

GBPUSD bears controlling the situation
Thu, 02 Sep 2010 07:14:10 GMT

AUDUSD - Bulls concentration is extended above resistance level, despite this action – while candles remain active above 0.9029 barrier, bulls are in better place than bears. EURUSD - Despite the current neutral situation, look for buying possibilities above resistance barrier. EURGBP - Bulls are looking forward to continue climbing to new highs. Buying options are on a table. NZDUSD - Resistance barrier stays as a significant level for bulls side, just above resistance look for buying

 

Forex Trade Setups Commentary: AUDUSD levels
Thu, 02 Sep 2010 07:12:33 GMT

Forex Trade Setups Commentary: AUDUSD levels The AUDUSD is carving out a trading range between about 0.9200 and 0.8850-0.8770. This market is likely to continue bouncing between these levels for the time being. We would look for price action setups forming at or near these levels before taking any positions. A decisive break above 0.9200 or below 0.8770 would likely lead to stronger directional moves. For a more in-depth analysis of the major forex currency pairs and price action analysis,

 

GBP couldn't not match the previous lows of 1.5325
Thu, 02 Sep 2010 05:56:24 GMT

GBP/USD GBP couldn't not match the previous lows of 1.5325, holding just above at 1.5337. Failure to break lower did push the market higher, and once more we are back above 1.5400. The pattern evident on the 60min charts is quite a bullish one for the short term players, and if we can maintain above 1.5400 early in the session then we can trade higher with 1.5580 to 1.5620 the targeted area. Buyers would be advised to cover all longs to here as it is unlikely that we can break this resistance

 

Index Recommended Levels
Thu, 02 Sep 2010 02:26:02 GMT

Dow Jones : Resistance ( daily close ) : 9382.12, 9744.26, 10 091.30, 10 935.23 , 11 164.57, 344.92 and 11 520.30. Then 11 749.22, 11 970.00, 12 152.82, 12 600.24, 12 982.20, 13 162.50 and 13 320.00. Break of the latter will lead to 13 567.60, 13 668.74 and 13 792.53 ( published on October 21, 2008). Support ( daily close ): 9630.33 and 9358.35(main), 9090.00, 8912.62 ( published on November 10, 2009) . Today’s support: - 10212.19 and 10181.25 (main), where a delay and correction may happen.

 

AUD/USD: Overbought yet strong
Wed, 01 Sep 2010 23:25:03 GMT

Australian dollar gained around two full cents this Wednesday, having reached an intraday high of 0.9110 before starting a timid corrective movement; 4 hours chart show momentum remains strong while 20 SMA under current price presents a strong bullish slope, suggesting further rises in Asia, is risk appetite extends to local share markets. Pullback towards 0.9060/70 support area will be key as pair should regain the upside from that area, offering a decent buying level. Stops should come under

 

EURUSD: Recovery To Target The 1.2921 Level
Wed, 01 Sep 2010 17:37:52 GMT

In This Issue: EURUSD: With a rally seeing the pair pushing above its minor resistance at the 1.2770 level, its Aug’27’10 high, recovery strength could be developing towards its Aug 18’10 high at 1.2921… EURUSD EURUSD: Recovery To Target The 1.2921 Level. EURUSD: With a rally seeing the pair pushing above its minor resistance at the 1.2770 level, its Aug’27’10 high, recovery strength could be developing towards its Aug 18’10 high at 1.2921. Further out, resistance is located at the 1.3332

 

USD/CAD Hits Channel Resistance
Wed, 01 Sep 2010 15:25:51 GMT

USD/CAD Hits Channel Resistance Day: The USD/CAD is in a range roughly between 1.0150 and 1.07. To be more specific, there is historic resistance at 1.0670. After 2 tests, today’s price action so far heading into the US session, is a reversal candle. If the candle is equal or larger than the previous up-candle, it may signal a reversal. As always between this range, the 1.04 area may provide some initial support for the decline. Perhaps it can extend to 1.0325 (61.8% rertracement). 4H: A

 

EUR/USD: Correction underway
Wed, 01 Sep 2010 14:37:24 GMT

Pair toped at the 1.2855 area as expected, with hourly charts showing extreme readings, now seeking for a downside corrective movement: under 1.2810, pair should extend towards the 1.2750/70 area, without losing the bullish longer term tone. Further gains seem limited today, thus consolidation in between 1.2810/1.2855 should be understood as further gains in Asia, looking for a test of the 1.2900 level. View Live Chart for the EUR/USD

 

EUR/USD – Wave Count and Zig Zag Projection
Wed, 01 Sep 2010 13:37:50 GMT

EUR/USD – Wave Count and Zig Zag Projection 4H: Although the market was bearish for most of the first 2 sessions. The third session this week started pushing up the Euro in the Asian session. This accelerated in the European session. This is not surprise ahead of the Non-Farm payroll. We expect some lower volatility but after the current swing. Yesterday I suggested a range between 1.26 and 1.28, but the market is clearly not in a flat right now. It appears to me that it is developing a “zig

 

Currency Pick of The Week
Wed, 01 Sep 2010 13:15:33 GMT

Australia, one of the main beneficiaries of Chinese growth, reported that the economy grew at the fastest pace in three years in the second quarter. GDP climbed 1.2% in Q2 from the previous three months, when it expanded by a revised 0.7%. The pace of growth was quicker than the 0.9% expected, and was in large part down to exports of iron ore to China – overall exports rose 5.6% in the quarter and added 1.1 percentage points to GDP, while household spending was also a significant contributor.

 

EUR/USD: breaking higher, continuation seen
Wed, 01 Sep 2010 10:46:52 GMT

Euro managed to break higher, breaking above the descendant trend line that capped the upside yesterday, and even above past Friday’s high of 1.2780; the level also represents the 38.2% retracement of the daily rally 1.1870/1.3330,  suggesting as long as above, the upside is exposed. Having reached the 200 EMA in the 4 hours chart, around 1.2810 and due to some overbought conditions in the hourly chart, some downside corrective movements could now be expected towards the 1.2760/80 zone.

 

Intraday Market Outlook for Day Traders
Wed, 01 Sep 2010 10:02:03 GMT

EUR/USD With increasing volatility, the pair`s market went upwards this European morning, now trading at 1.2785. We expect a correction/consolidation phase first and, at 1.2730, fresh bidding, bringing the quote up to 1.2830. GBP/USD Cable had a recovery phase in late Asian trading, but fell back again from highs around 1.5420 to now 1.5380 in the European morning. We see a stronger market today emerging from levels at approx. 1.5345 and reckon with prices around 1.5440. USD/CHF The dollar is

 

Gold's short-term chart looks ready for a correction lower
Wed, 01 Sep 2010 08:54:25 GMT

After a dramatic rally higher, which resulted in a strong intraday uptrend, Gold’s short-term chart looks ready for a correction lower. Small corrections did occur as Gold approached the eventual session high; however, prices were unable to sustain the steep uptrend and the 15-minute time frame now seems ready to roll over. When it comes to reversals however, a sentiment shift must take place in order to get sufficient follow-through: with the Channel Up pattern alert, just such a reversal

 

The downtrend on the EUR/CHF moved sharply lower today
Wed, 01 Sep 2010 08:50:04 GMT

The downtrend on the EUR/CHF moved sharply lower today as the Swiss Franc gained against all major currencies—and the downtrend on the EUR/CHF shows how much the Franc continues to gain against the Euro. Negative sentiment is established enough that the bears will wait and sell into any rally. Therefore, identifying resistance levels within the downtrend can help locate short-sell zones (though the pair must first correct higher). The 15-minute chart has initiated what could be a short-term

 

U.S. Tech 100: The index within the range from 1781.75 to 1755.25
Wed, 01 Sep 2010 08:42:13 GMT

The congestion in the U.S. Tech 100 index started at the beginning of Tuesday’s lunchtime doldrums and extended through the session’s close. This put the index within the range from 1781.75 to 1755.25 and helped form a Triangle pattern on the 60-minute timeframe. Price action is still trading with a level of volatility, as confirmed by the five-bar Autochartist Initial Trend reading. The distribution market cycle within which the index is trading will decrease the potential for follow-through

 

USDJPY significant resistance barrier is valid
Wed, 01 Sep 2010 08:01:07 GMT

AUDUSD - Resistance barrier is still valid, bulls are looking forward to initiate a breakout. However, waiting action is better option for now. EURUSD - Further jumping is expected between support and resistance levels. Next upswing is possible towards resistance. EURGBP - Bears have declined the price near resistance and slided back to support level. Look for a rebound towards resistance barrier. NZDUSD - Resistance barrier is valid, however just above this level look for positive bullish

 

Comprehensive FX and Futures Daily Commentary
Sat, 04 Sep 2010 11:28:15 GMT

Daily Market Commentary EUR/USD Eyes 1.30 The EUR/USD closed the trading week on a positive note and the currency pair is now eyeing its psychological 1.30 level as markets head into a relatively quiet week data-wise. The risk trade rallied across the board on Monday after U.S. headline employment data came in stronger than expected. Non-farm payrolls declined by -54k vs. -101k expected, fueling a continuation of the recent risk rally. Friday’s follow-through was encouraging and investors are

 

Treasury Bonds Test Minor Retracement Zone
Sat, 04 Sep 2010 02:45:01 GMT

December Treasury Bonds broke on Friday as investors shed safer assets in favor of higher-yielding risky assets. The main trend remained up on the daily chart while the market completed a 50% retracement of the 124’22 to 135’19 range. The first target was 130’17. The market tested 130’12.   Fundamentally, the jobs report drove down T-Bonds, but the weaker ISM Services report helped drive them higher off the low, setting up a possible retracement to the upside next week.  If T-Bonds

 

Japanese Yen Traders Don't Seem to Know if Risk is on or Risk is Off
Sat, 04 Sep 2010 02:43:09 GMT

The USD JPY traded sharply higher Friday morning, but the strong gains faded after a report showed the U.S. Services Sector slowed during August. The rise in demand for stocks appeared to be reviving the carry trade earlier in the session. This is a situation where investors borrow the lower yielding Yen then sell it to invest in higher yielding assets. Friday’s trading action in the Japanese Yen suggests that traders can’t make up their minds as to whether risk is on or risk is off.  

 

Investors to Focus on Private Sector Hiring This Morning
Fri, 03 Sep 2010 20:04:39 GMT

 Let’s take a look at today’s U.S. Non-Farm Payrolls Report. The big picture still suggests we are in a jobless recovery. The focus of today’s report will be on the private sector. An anemic jobs number is likely to cause companies to continue to conserve cash and refrain from hiring.   One key factor that remains a major concern is the high level of the weekly jobless claims number.   Investors should remember not to focus too much on the labor rate. Some people think that 10%

 

U.S. Jobs Data put Risk Back on Table
Fri, 03 Sep 2010 20:01:38 GMT

This morning’s better than expected U.S. Non-Farm Payrolls data has put risk back on the table. Although this report showed that the economy was still shedding jobs, private sector hiring was above the consensus, driving investors into equities and out of gold and Treasuries.   The shift in risk sentiment is driving the U.S. Dollar lower especially against the commodity-linked currencies. The Japanese Yen is also getting punished as traders leave the safety of the lower yielding currency.

 

Greenback Weakened Post Non-Farm Payroll
Fri, 03 Sep 2010 18:40:51 GMT

The USD was in consolidation/ correction mode this week ahead of the NFP. This is in a sense the market’s way of paring some overextended USD gains, but also offers a chance for the market to continue with greenback strength. There was some dollar strength immediately after the release, but when the ISM manufacturing data came out worse than expected, the market went back to dollar weakness. It appears that the USD may be turning the corner and will correct further next week. EUR/USD –

 

Technical Daily Analysis-$EURJPY
Fri, 03 Sep 2010 14:35:06 GMT

We are in still in a channel to the upside but coming down hard. EJ will have to tell us at the bottom of the channel what it wants to do. Remember this is Friday so a good chance to just square up and leave it for the weekend. A bounce at this level would target the return to the 109.05 area.A break here targets the 107.86-107.57 area.

 

Currency Majors Technical Perspective
Fri, 03 Sep 2010 13:46:16 GMT

EUR/USD Current price: 1.2856 View Live Chart for the EUR/USD Better than expected US employment data triggered a strong risk appetite rally across the board, thus EUR/USD remained subdued fighting in between following risk sentiment of dollar strength. Still holding gains intraday talking hourly  indicators remain flat in the hourly chart with price above an also flat 20 SMA; having reached an intraday high around 1.2875, accelerations above that level are needed to confirm an extension

 

Traders' Corner-- AUD/USD Technicals
Fri, 03 Sep 2010 12:23:02 GMT

  AUD/USD has hit resistance around .9117 twice in the last 2 days making it a good area for key resistance on the pair ahead of non-farm payroll data in the U.S. this Friday (9/3) morning at 8:30 a.m. EDT expected at -105K, with last months data coming in at -131K.   Immediate support can be seen at the bottom of a possible double top formation around .9050, (S1) with S2 around .9025, and S3 around .9000 which is also the 100 Hour Moving Average.  Incidentally S2 an S3 are also

 

Currency Majors Technical Analysis
Fri, 03 Sep 2010 12:15:49 GMT

EUR/USD - Euro / US Dollar Entry : 1.2825 Stop : 1.279 Resistances : 1.298 - 1.292 - 1.2855 Supports : 1.267 - 1.278 - 1.281 GBP/USD - British Pound / US Dollar Entry : 1.541 Stop : 1.545 Resistances : 1.5575 - 1.5495 - 1.545 Supports : 1.523 - 1.5325 - 1.537 USD/CAD - US Dollar / Canadian Dollar Entry : 1.0555 Stop : 1.0515 Resistances : 1.0675 - 1.0615 - 1.056 Supports : 1.0445 - 1.0475 - 1.052 USD/CHF - US Dollar / Swiss Franc Entry : 1.016 Stop : 1.021 Resistances : 1.025 - 1.0185 - 1.017

 

EUR/GBP, USD/CAD, GBP/JPY Technicals
Fri, 03 Sep 2010 08:32:18 GMT

EUR/GBP 3rd September , 2010 Current level - 0.8312 Longer term bias switched to bearish now that the cross has breached key support in 0.8400 area.      Intraday: we didn't get the follow through in the breakout we expected to conside a change of direction. Staying bearish unless we see this weeks close above 0.8350 level.

 

Eurodollar Future – December 2010
Fri, 03 Sep 2010 08:17:39 GMT

Comment: Eurodollar futures are trading roughly fifty basis points over Euribor ones, the widest since January 2009, while the spread between benchmark ten-year TNotes and JGBs at 150 basis points is the narrowest since then; probably another unintended consequence of a zero interest rate policy. Open interest in front Dec and March Eurodollar futures contracts remains high, probably reflecting year-end worries, as prices hover in the middle of ‘broadening top’ formations. Note that moving

 

Strategy for today: Short USD/JPY and USD/CHF
Fri, 03 Sep 2010 08:14:26 GMT

The trading strategies are based exclusively on technical analysis and are short term with a maximum time horizon of 3 to 5 days. The philosophy behind the Today's Trading Signals (TTS) is to take low risk, high return positions with tight stops. That means Financial Trend Analysis (FTA) focus the most on placing the right stops. Every morning FTA reviews the market and the specific strategy, recalculates the risk/reward and then determines the strategy regardless of previous strategy in the

 

EUR/USD Strategy: SHORT 1 at 1.3175, Obj: 1.2375, Stop: 1.3015
Fri, 03 Sep 2010 08:20:19 GMT

USD/JPY Strategy: Sell Limit 3 at 84.90, Objs: 83.85/82.27/79.65, Stop: 85.95 USD/JPY remains vulnerable having seen a deep retracement of last week’s potentially bullish lower shadow candlestick as medium-term downward pressure remains. While this week’s recovery high at 85.91 caps the short-term risk is seen to the downside, with risk of losing 83.60 for an attack on the all time low at 79.75 (posted in 1995) over coming weeks as the major downtrend extends. In the meantime, re-capture of

 

Forex Technical Analysis on Majors
Fri, 03 Sep 2010 07:59:39 GMT

EUR/USD  Current level - 1.2821 EUR/USD is in a downtrend, after peaking at 1.5146 (Nov.25,2009). Technical indicators are descending, and trading is situated below the 50- and 200-Day SMA, currently projected at 1.3458 and 1.4206.   The bias here is still positive for 1.2920 and the pair is well bid at 1.2780. Only a break below 1.27+ will mark an earlier reversal for the expected sell-off towards 1.2475.

 

Technical Summary for Majors
Fri, 03 Sep 2010 07:54:18 GMT

EUR/USD Recovery off 1.25861.2625, 24/31 Aug lows has reached 1.2855, just below off 1.2870, 38.2% retracement of 1.3332/.2586. To resume recovery, break above 1.2931 is required, while loss of 1.2740 would signal bear resumption. Res: 1.2855, 1.2870, 1.2903, 1.2931 Sup: 1.2775, 1.2741, 1.2725, 1.2693 GBP/USD The recent recovery from the 1.5325, 31 Aug low has tested the 23.6% retracement of the 1.5997/1.5325 downleg, at 1.5483. Although a further recovery phase may be possible a lower high

 

Daily Forex Technical Commentary
Fri, 03 Sep 2010 06:52:46 GMT

GBP/USD Very little change here.  We did try to test the 15334 level, and bounced smartly from 15346.  Since then we’ve been drifting higher but have not yet reached our first resistance at 15451.  The bulls have established a clear support zone from the 15323 low extending up to 15346, but ultimately they still have everything to prove, and the bias remains bearish. We’re making 15491 a bold level today because it was where the sharp rally failed on Wednesday, and it did lead

 

Expecting Further Rise in Euro
Fri, 03 Sep 2010 06:47:56 GMT

EUR The pre-planned buying positions from key supports have been implemented with overlap of minimal anticipated target. OsMA trend indicator, having marked preserved priority of bullish party activity in the bigger picture, suggests preference of bullish direction in planning trading operations for today. At this point, considering fall in activity of both parties, we can assume probability of further rate correction period with its return to close 1,2780/1,2800 supports, where it is

 

USDJPY Support & Resistance Analysis
Fri, 03 Sep 2010 06:46:03 GMT

USDJPY Support and Resistance PowerZones The Support and Resistance PowerZones are focused on one thing…Confluence. In the same way that a rope is made up of multiple strands for strength; the Pivotfarm Confluence PowerZones are made up of the confluence of multiple Support and Resistance methodologies including: Market Profile (TPO) Volume Profile Elliot Wave Calculated Pivots Open Gaps Naked VPOCs VWAP OHLC Bank Flow (Rumours of order placement by banks) Trendlines Initial Balance Fibonacci

 

EURUSD negative trend is extended
Fri, 03 Sep 2010 06:25:38 GMT

Bulls trying to recover, however another barrier at 1.2834 stands very strongly which limits further bullish movement. Waiting action is better option for now, according to a current negative trend, a rebound back to support is possible.

 

Daily Forex and Dow Jones Recommended Levels
Fri, 03 Sep 2010 06:20:00 GMT

Several words about the EUR/USD future. Resistance (daily close) : 1.3182, 1.3364, 1.3590 and 1.3778. After that 1.3958, 1.4186 and 1.4400. Break of the latter will give 1.4490, 1.4692 и 1.4884. Then 1.5117, 1.5386 , 1.5592 и 1.5660. Break of 1.5660 would lead to 1.5865, 1.7280 and 1.9430 (published on 23.10.2008) . Support (daily close) : 1.2610, 1.2428 and 1.2246. Then 1.2128, 1.1970, 1.1838 and 1.1700. Break of the latter would give 1.1533, 1.1352 and 1.1181 (published оn 23.10.2008) . Dow

 

JPY: Trading in a tight range around 84.50
Fri, 03 Sep 2010 06:25:25 GMT

EUR Comment: Consolidating in a tiny ‘triangle’ just above the top of the daily Ichimoku ‘cloud’ and above the 9-day moving average. Momentum is just bullish and we are trading at the 20 and 50-day moving averages. Let’s see if the Euro can capitalise on these small bullish Technical points. Strategy: Attempt small longs at 1.2825/1.2800; stop below 1.2580. First target 1.2855, then 1.2925. EUR/JPY Comment: Trading in the middle of a large ‘triangle’, looking for direction. Expect more of the

 

Currency Majors Technical Analysis
Fri, 03 Sep 2010 05:51:32 GMT

EUR/USD - Euro / US Dollar Entry : 1.282 Stop : 1.279 Resistances : 1.304 - 1.292 - 1.2835 Supports : 1.266 - 1.2775 - 1.28 GBP/JPY - British Pound / Yen Entry : 129.75 Stop : 130.2 Resistances : 132.05 - 130.95 - 130.2 Supports : 128.65 - 129.15 - 129.65 USD/CAD - US Dollar / Canadian Dollar Entry : 1.054 Stop : 1.05 Resistances : 1.0675 - 1.061 - 1.056 Supports : 1.0445 - 1.0475 - 1.052 USD/CHF - US Dollar / Swiss Franc Entry : 1.0125 Stop : 1.015 Resistances : 1.022 - 1.018 - 1.014 Supports

 

EUR/USD: (1.2825) Pair currently above 1.2780
Fri, 03 Sep 2010 05:29:21 GMT

Break of Downtrendline sent the pair currently above 1.2780 (see graph: targets would be 1.2935/ .2972). Support area at 1.2776/ .2772 (reaction low hourly/ daily envelope bottom), with next levels at 1.2760 (daily Short Term Moving Average↑), ahead of 1.2744/ .2738 (break-up daily/ daily Medium Term Moving Average↑), where pause favored. If wrong, next levels at 1.2687 (break-up hourly), ahead of 1.2663/ .2661 (reaction low hourly/ idem + modified daily Alpha Beta trend bottom) and 1.2625

 

Late Session Short-Covering Drives Stocks Higher
Fri, 03 Sep 2010 03:40:44 GMT

A late session short-covering rally triggered by day-trader liquidation late in the trading session helped equity markets finish higher on Thursday. The inability to break stocks throughout the day most likely encouraged frustrated bears to cover their positions ahead of tomorrow’s important U.S. Non-Farm Payrolls Report.   Stocks seemed to be underpinned throughout today’s session by strong bids. The surge to the upside late in the session allowed the September E-mini S&P 500

 

U.K. Economy Cooling; Pound Downside Target Remains 1.5113
Fri, 03 Sep 2010 03:38:09 GMT

Concerns over a slowdown in U.K. manufacturing growth and mortgage market worries helped pressure the British Pound. Sterling investors seem to be pre-occupied lately over the new austerity measures and tax hikes. Many still feel the economy will slump because of these two programs.   The GBP USD chart indicates room to the downside with 1.5113 a potential downside target. Short-covering could trigger a quick pop to 1.5600, but this likely will be another selling opportunity.   The

 

GBPUSD stays below a falling trend line
Fri, 03 Sep 2010 02:32:06 GMT

GBPUSD stays below a falling trend line on 4-hour chart and remains in downtrend from 1.5997. As long as the trend line resistance (Now at 1.5525) holds, another fall to 1.5200 is still possible. On the upside, the pair may be forming a cycle bottom at 1.5326, key resistance is at 1.5597, a break above this level will confirm the cycle bottom and indicate that the fall from 1.5997 has completed at 1.5326 already, then the following upward movement could bring price back to 1.5700-1.5800 area.

 

USDJPY: Down Trend
Fri, 03 Sep 2010 00:26:11 GMT

Down Trend Prices should stay below (84.70) in order to maintain the bearish outlook.. USDJPY is facing a selling pressure pushing it down as long as it remains below (84.70) any four hours close below (83.75) will open the way for the instrument to test the next support level at (83.20). Any four hours bare close above (84.70) will change instrument`s direction. Traders should consider selling each rally with a stop loss at (84.70). Currency Daily Profile Daily 200 SMA  89.97 Daily 100

 

USDCHF: Neutral Trend
Fri, 03 Sep 2010 00:23:38 GMT

Neutral Trend We need to see a close above (1.0266) or below (1.0001).. USDCHF is struggling in a battle between both market forces (bulls and bears) the instrument has a trading range to break. Any four hours close above (1.0266) will open the way for a little push upward to test the resistance level at (1.0308), and a four hours close below (1.0001) will let the instrument test the next support level at (0.9957). Currency Daily Profile Daily 200 SMA  1.0753 Daily 100 SMA  1.0846

 

GBPUSD: Neutral Trend
Fri, 03 Sep 2010 00:21:23 GMT

Neutral Trend We need to see a close above (1.5557) or below (1.5192).. GBPUSD is struggling in a battle between both market forces (bulls and bears) the instrument has a trading range to break. Any four hours close above (1.5557) will open the way for a little push upward to test the resistance level at (1.5646), and a four hours close below (1.5192) will let the instrument test the next support level at (1.5142). Currency Daily Profile Daily 200 SMA  1.5272 Daily 100 SMA  1.5102

 

EURUSD: Neutral Trend
Fri, 03 Sep 2010 00:18:59 GMT

Neutral Trend We need to see a close above (1.2991) or below (1.2625).. EURUSD is struggling in a battle between both market forces (bulls and bears) the instrument has a trading range to break. Any four hours close above (1.2991) will open the way for a little push upward to test the resistance level at (1.3031), and a four hours close below (1.2625) will let the instrument test the next support level at (1.2585). Currency Daily Profile Daily 200 SMA  1.3105 Daily 100 SMA  1.2597

 

Currency Majors Technical Perspective
Thu, 02 Sep 2010 22:58:31 GMT

EUR/USD Current price: 1.2825 View Live Chart for the EUR/USD Trading in a 40 pips range since mid American session as volume decreased on cautious ahead of US NFP, pair holds a slightly bullish tone, after testing and bouncing from 1.2770 key support zone. ECB monetary policy barely moved de pair, despite Trichet’s announcement of an upgrade in the growth perspective; he also extended lending facilities to banks till January, sending the markets the euro zone backs are not ready to walk

 

Stocks Treading Water with Slight Biased to Upside
Thu, 02 Sep 2010 19:28:24 GMT

U.S. equity markets are trading sideways to higher at the mid-session in a lackluster trade. Upside momentum has slowed compared to yesterday, but there doesn’t seem to be a strong conviction to the upside either. Technically, the September E-mini S&P 500 has a chance to test a key Fibonacci retracement level at 1088.00. December Treasury Bonds are trading lower. Today’s weakness is a combination of lack of conviction ahead of Friday’s job report and a tired market. Technically, the

 

U.S. Dollar Flat to Lower after ECB Decision, Weekly Claims Report
Thu, 02 Sep 2010 19:22:22 GMT

The U.S. Dollar is trading flat to lower at the mid-session as traders remain cautious ahead of Friday’s U.S. Non-Farm Payrolls Report. Earlier this morning the Dollar showed little reaction to the European Central Bank’s decision to hold interest rates steady and a slight drop in U.S. Weekly Initial Claims. Jobless claims remained a concern among investors because they remain at a high level. This is an indication that the U.S. economy is cooling while fueling worries that the recovery may

 

A Look at USD Dollar Crosses Ahead of Non-Farm Payroll
Thu, 02 Sep 2010 19:15:40 GMT

The USD appears to be in consolidation or correction mode. The EUR/USD is in correction mode, looking to retrace 50% of the decline since the last Non-Farm payroll release. The GBP/USD however is consolidating and the USD has a slight edge. The USD/JPY is consolidating as well, but the pressure here is bearish. The AUD/USD may actually have taken a bullish stance, and the USD/CAD is consolidating after failing to break resistance at 1.0670, but also failing to break below short-term range

 

Jobless Claims Decline; Stocks Remain Steady ahead of Opening
Thu, 02 Sep 2010 17:41:28 GMT

New U.S. Weekly Jobless Claims declined last week according to the government, but were still too high to have a strong impact on the week labor market.   The number was good enough to push Treasury yields slightly higher, driving down December Treasury Bonds. This market has been trading in a tight range for six days indicating impending volatility. On the downside, 130’17 to 129’11 remains a potential downside target. The top at 135’19 seems to be closely guarded at this time.  

 

Trichet Comments Give Euro slight Boost
Thu, 02 Sep 2010 17:39:40 GMT

This morning the European Central Bank left interest rates unchanged as expected. ECB President helped move the Euro a little higher by stating that recent data has been stronger than expected partly due to temporary factors, but the ECB still expects the Euro Zone’s economic recovery to be moderate and uneven.   The Euro had a pretty uneventful night after Wednesday’s strong surge. The market is currently trading inside yesterday’s range with traders taking a cautious approach ahead of

 

Chart of the Day – USD/CAD
Thu, 02 Sep 2010 16:05:01 GMT

(Chart courtesy of FX Solutions' FX AccuCharts. Price on 1st pane, Slow Stochastics on 2nd pane; horizontal support/resistance levels in yellow; uptrend lines in green; downtrend lines in red; chart patterns in white; 50-period simple moving average in light blue.) 9/02/2010 – USD/CAD – Price action on USD/CAD (a 4-hour chart of which is shown) as of Thursday (9/02/2010) has settled above 1.0470 support once again after having just descended from a key resistance re-test in the 1.0670 price

 

Technical Summary for Majors
Thu, 02 Sep 2010 14:42:59 GMT

EUR/USD Remains in recovery mode off 1.2586/1.2625, 24/31 Aug lows. Yesterday’s breach at 1.2741/78 resistance zone has so far seen 1.2855, with slight ease expected to precede fresh gains to test 1.2870, 38% retracement of 1.3332/1.2586 downleg. However, while 1.2870/1.2931 zone holds, the latest rally is seen corrective. Only break above the latter would signal stronger recovery. Res: 1.2855, 1.2870, 1.2903, 1.2931 Sup: 1.2775, 1.2741, 1.2725, 1.2693   GBP/USD Recovery attempt off

 

Technical Daily Analysis- $EURUSD Holding head up
Thu, 02 Sep 2010 14:21:33 GMT

We are in a channel to the upside. EU will probably move to the bottom of the channel before giving any clues to direction. Looking for a bounce at the 1.2754 area.