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Technical Analysis

  • USDJPY: Neutral Trend
    Neutral Trend We need to see a close above (84.13) or below (83.24).. USDJPY 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 (84.13) will open the way for a little push upward to test the resistance level at (84.60), and a four hours close below (83.24) will let the instrument test the next support level at (82.85). Currency Daily Profile Daily 200 SMA  89.80 Daily 100 SMA  88.07 Daily 50

  • USDCHF: Neutral Trend
    Neutral Trend We need to see a close above (1.0157) or below (1.0049).. 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 (1.0157) will open the way for a little push upward to test the resistance level at (1.0184), and a four hours close below (1.0049) will let the instrument test the next support level at (1.0024). Currency Daily Profile Daily 200 SMA  1.0750 Daily 100 SMA  1.0794

  • GBPUSD: Neutral Trend
    Neutral Trend We need to see a close above (1.5541) or below (1.5286).. 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 (1.5541) will open the way for a little push upward to test the resistance level at (1.5633), and a four hours close below (1.5286) will let the instrument test the next support level at (1.5188). Currency Daily Profile Daily 200 SMA  1.5249 Daily 100 SMA  1.5136

  • EURUSD: Neutral Trend
    Neutral Trend We need to see a close above (1.2772) or below (1.2666).. 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 (1.2772) will open the way for a little push upward to test the resistance level at (1.2820), and a four hours close below (1.2666) will let the instrument test the next support level at (1.2625). Currency Daily Profile Daily 200 SMA  1.3064 Daily 100 SMA  1.2608

  • Daily Forex and Dow Jones Recommended Levels
    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

  • Currency Majors Technical Perspective
    EUR/USD Current price: 1.2722 View Live Chart for the EUR/USD Wednesday was signaled by increasing risk appetite since Asian opening that faded in the US afternoon. Pair approached key 1.2770/80 static resistance area, yet failed to extend above, despite stocks across the world had a quite positive day erasing most of past Tuesday loses. Technically, the pair has still some bullish potential as long as above 1.2700 area, with hourly indicators heading north and price holding above 20 SMA;

  • The Euro is weak across the board
    The euro is weak across the board. In fact, the EURAUD is trading at a 19 year low and an objective is 1300 pips lower. Long Term Trends and Pivot Points (monthly data) (updated on first of the month) Medium Term Trends and Pivot Points (weekly data) (updated every week) Euro / British Pound 240 Minute Bars Remember, the longer term analysis that I presented last week had us thinking rally. I wrote that “the June low has held for several months and the decline from the top (2008 high) sports 2

  • Chart of the Day – AUD/USD
    (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.) 9/08/2010 – AUD/USD – Price action on AUD/USD (a 4-hour chart of which is shown) as of Wednesday (9/08/2010) has resumed its bullish stance, after a bearish pullback, to approach the last major resistance high around 0.9220 reached

  • Treasury Bond Weakness could mean another Leg Down
    Renewed demand for risky assets is helping to drive the December Treasury Bonds lower. Technically the T-Bonds may have made a secondary lower top on Tuesday after testing the retracement zone at 133’03 to 133’22. The actual rally to 133’12 completed a 50% retracement of the 135’19 to 130’12 range. If a secondary lower top has been formed and appetite for risky assets continues to grow, then look for this market to break lower. A trade through 130’12 will not only take out a swing bottom to

  • Dollar/Yen making Daily Reversal Bottom
    Ahead of the release of this afternoon’s Federal Reserve Beige Book, the U.S. Dollar is trading weaker against most major currencies. This report shouldn’t be a market mover, but traders should read it to gain a little more knowledge into what the Fed looked at when it made its recent Federal Open Market Committee decisions. The Japanese Yen is under pressure versus the U.S. Dollar at the mid-session after rising to a 15-year high against the Greenback. Strong moves in the equity markets are