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Forex Technical Analysis

roger — Tue, 07 Sep 2010 09:43:53 +0000

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.
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Technical Analysis Daily: GBP/USD

roger — Tue, 07 Sep 2010 08:43:30 +0000

After initial rise, on Monday Pound/Dollar started to decrease, in converse with the positive Interbank sentiment at nearly +5%. The Cable depreciated from 1.5489 to 1.5350 yesterday, closing the day at 1.5393. Today the British currency is trading quietly so far. On the 1 hour chart the downward channel is
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European Sovereign Debt Concerns Are Back In Vogue This Morning

roger — Tue, 07 Sep 2010 07:34:52 +0000

Concerns over European debt are back as the members of the Eurozone prepare to auction some EUR 80 billion in September. This is roughly twice the 43bn that was auctioned in August. Spain is looking to auction 7bn in September up from 3.5bn in August. In the US President Obama
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Daily Technical Outlook

roger — Tue, 07 Sep 2010 06:42:03 +0000

The euro changed direction, revisiting the downside near support at 1.2770 after an industry group said Germany’s 10 largest lenders may need fresh capital to meet new regulations. Breaking above 1.2900 was needed to confirm the short-term uptrend but that scenario is on hold for now. While the pair trades
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Technical Analysis Daily: EUR/USD

roger — Tue, 07 Sep 2010 05:42:29 +0000

On Monday the Euro/Dollar traded within narrow range. The European depreciated from 1.2914 to 1.2867 yesterday, not matching the positive Interbank sentiment projection, at around +6%, closing the day at 1.2874. This morning bears started pushing down. On the 1 hour chart trading is still within wide range, and on
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Forex and Dow Jones Recommended Levels

roger — Tue, 07 Sep 2010 04:35:26 +0000

EUR/USD Today’s support: – 1.2768, 1.2735 and 1.2690(main), where correction is possible. Break would give 1.2677, where correction also may be. Then follows 1.2653. Break of the latter would result in 1.2626. If a strong impulse, we would see 1.2590. Continuation will give 1.2552.
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Market Morning Briefing

roger — Tue, 07 Sep 2010 03:36:43 +0000

The Euro (1.2804) has come off from yesterday’s high of 1.2919 on concerns about the European bank’s to raise fresh furnds. Support is seen at 1.2780 and a break below it might see 1.2700-2650 over today/tomorrow. Dollar-Yen (84.21) is trading silent between 84.00 and 84.50 within its overall downtrend. The
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Trade Idea Update: USD/CHF – Look to buy lower

roger — Tue, 07 Sep 2010 02:38:14 +0000

Although the greenback has recovered after holding above the Ichimoku cloud top and consolidation would be seen, above 1.0185/90 (previous minor resistance and current level of the Kijun-Sen) is needed to suggest the retreat from 1.0239 has possibly ended at 1.0138 and bring another test of this resistance.

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Mid-Day Report: Sterling Hit Hard on Clearer Sales

roger — Tue, 07 Sep 2010 01:39:26 +0000

Sterling is hit hard in thin market today on speculation of UK clearer sales as speculation of QE extension from BoE. There are talks in the market that a large UK clearing bank bought about a billion euros on concern of UK’s contribution to EU’s agricultural budget. In additional, recent
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Trade Idea: USD/CAD – Buy at 1.0280

roger — Tue, 07 Sep 2010 00:35:40 +0000

Although the greenback has remained under pressure after breaking support at 1.0471, as this move is still viewed as correction of early rise from 1.0108, downside should be limited and reckon 1.0241-47 (1.618 times projection of 1.0674 to 1.0471 measuring from Fridays high of 1.0569 and previous support) would limit
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