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Daily Forex Overview
2008-04-29 13:14:00
Previous session overviewOn Monday, the dollar was weaker versus its rivals, but currency trading was largely range bound one day before the Federal Open Market Committee meeting is to convene. Hopes for a dollar recovery from historical lows against the euro are pinned to a pause in the Federal Reserve's easing policy. The central bank has been cutting interest rates since late last year, slashing the yield of the dollar while the hawkish European Central Bank supports the yield of the euro. The greenback ended its 3-day rally versus the euro and retreated against other European currencies as traders booked profit on recent long dollar positions ahead of FOMC policy meeting and key U.S. non-farm payrolls data later this week. EURUSD traded at a high of 1.5693 and a low of 1.5595, before closing at 1.5643 in New York trading. German CPI inflation fell from 3.1% yr to 2.4% yr in April. And German consumer confidence rose from 4.8 to 5.9 in "May". The British pound has stre...
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Currency Majors Technical Analysis
2008-04-28 17:24:00
European SessionEUR/USD - Euro Dollar1,5642. EUR USD is in an downtrend directed by 1H exponential moving averages. EUR USD is in a consolidation after the last bearish movement. The volatility is low. Bollinger bands are flat. ForexTrend 1H (Mataf Trend Indicator) is in a bearish configuration. The consolidation should continue. The price should find a support above 1,5600. We won't take a position. The risk/reward ratio is too high to take a position.. Resistances1,5670 - 1,5710Supports1,5625 - 1,5570GBP/USD - British Pound Dollar1,9830. GBP USD is in a range between 1,9680 and 2,0000. GBP USD moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility is low. Oscillators are neutral. The price should continue to move in 1,9680 / 1,9900 range. We won't take a position. The risk/reward ratio is too high to take a position.. Resistances1,9880 - 1,9925Supports1,9800 - 1,9700USD/CAD - US Dollar Canadian Dollar1,0093. USD CAD broke 1,0125 suppor...
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USD/JPY
2008-04-28 17:23:00
USD/JPY ? Within the context of the long-term, steady downtrend channel on the USD/JPY daily chart, as shown, price has formed a steeply-angled rising wedge pattern (as represented on the chart by the converging yellow lines). The sheer severity of this upward angle hints that it is not entirely sustainable. In addition, as wedges are most often thought of as continuation patterns, technical traders are looking for a breakdown of the current wedge to continue the prevailing downtrend. Oscillators like the displayed Stochastics are overbought, thereby lending even more strength to a bearish impending bias. There is also bearish divergence on the Stochastics, where the price has hit a higher high while the oscillator has hit a lower high (represented by the dotted yellow line on the Stochastics). If indeed the steep price rally that has occurred in this pair for the last month or so resumes in the direction of the long-term downtrend by breaking down below the current wedge, major sup...

Forex and Dow Jones recommended levels
2008-04-28 17:22:00
EUR/USDToday?s support: - 1.5618 and 1.5603(main), where correction is possible. Break would give 1.5589, where correction also may be. Then follows 1.5568. Break of the latter would result in 1.5542. If a strong impulse, we would see 1.5521. Continuation will give 1.5483.Today?s resistance: - 1.5669 and 1.5688(main). Break would give 1.5702, where a correction is possible. Then goes 1.5719. Break of the latter would result in 1.5736. If a strong impulse, we?d see 1.5751. Continuation will give 1.5772.USD/JPYToday?s support: - 104.30, 103.95, 103.73 and 103.47 (main). Break would bring 103.16, where correction is possible. Then 102.80. If a strong impulse, we would see 102.64. Continuation would give 102.48.Today?s resistance: - 104.95 and 105.19(main), where a correction may happen. Break would bring 105.28, where also a correction may be. Then 105.56. If a strong impulse, we would see 105.85. Continuation will give 106.02 and 106.26.DOW JONES INDEX Today?s support: - 12 808.13 a...
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Major Currencies
2008-04-28 17:21:00
EURO The Euro declined last week after it failed to breach the resistance level at 1.5708 to reach Friday to as low as the 1.5552 major support level; nevertheless the euro ended last week's trading with a reversal pattern to close above 1.5600 which will lead the European currency to the upside today. The trading range for toady is expected among the key resistance level at 1.5750 and the key support level at 1.5500. The general trend is to the upside as far as 1.4260 remains intact, target now are at 1.6080 and 1.6360.Support1.5626 1.5600 1.5577 1.5550 1.5523 Resistance1.5667 1.5728 1.5748 1.5780 1.5800 RecommendationBuying euro above 1.5625 with targets at 1.5725, stop loss below 1.5580 GBP Sterling declined against the dollar in early trading on Friday reaching the key support at 1.9673 forming strong reversal signals that took the pair to the 1.9889 strong resistance level, for that today the pound is expected to continue the upside headings with high levels of volume.The tra...
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Cross Rates
2008-04-28 17:20:00
(GBP/JPY)The pound inclined against the Japanese yen last Friday after it failed to breach the key support level at 205.45 to reach to the key resistance level at 207.73. The technical indicators reflect the pair's tendency to head to the downside today with reversal patterns formed with negative momentum and high levels of volume especially that the pair resides in an overbought area.Support207.00 206.78 206.36 206.11 205.70 Resistance207.55 207.80 208.10 208.41 208.68 Recommendation (EUR/JPY)The euro declined against the yen last Friday after it failed to breach the strong resistance level at 163.87 to retreat until the critical support level at 162.56. For that today the pair is expected to form reversal signals that will lead the pair to the upside in a strong move with high levels of volume.Support163.54 163.12 162.88 162.54 162.18 Resistance163.90 164.20 164.67 165.11 165.45 Recommendation (EUR/GBP)The euro declined against sterling in a strong move which enabled it to breach...
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Dollar Reality
2008-04-28 17:19:00
Market Directions Sunday April 27, 2008Dollar Reality Before we give the resurgence of the dollar too much credit let?s perform a reality check. As of Friday?s close at 1.5605 the euro had fallen slightly more than four big figures, or 2.5% against the dollar in just four days. The record high for the euro of 1.6020 came this past Tuesday. But since February the euro has risen 9.0% against the US currency. For the past five weeks the euro has been trading between 1.5500 and 1.5900 with one dip below and two attempts at the top; 1.5605 is just 100 points from the middle of that range. American statistics have not improved. But, except for the housing market, the hope is they may have stooped deteriorating. The April 19th weekly jobless claims were considerably less than forecast, 342,000 versus 377,000, but the four week average remains at borderline recession totals. New Home Sales fell to 526,000 in March, the lowest level since October 1991; sales are 36.6% lower than a year ago. ...

US Dollar strengthens yet again despite poor consumer sentiment
2008-04-28 17:18:00
CURRENCY TRADING SUMMARYU.S. Dollar Trading (USD) strengthened yet again on Friday due to U.S business profit results surpassing expectations. This surge against the majors came despite U.S consumer sentiment falling in April to 26-year lows. Revised data showed that the sentiment index fell from 69.5 to 62.6, down from the initial April reading of 63.2. The US dollar rose against the majors on Friday on the belief that the Federal Reserve is nearing the end of its easing cycle. In share market news of the 263 firms in the S&P 500 index that have reported first quarter profits, 73% have matched or beaten market expectations. This result really helped drive the U.S dollar on Friday. The Dow Jones rose 42 points (0.3%), whilst the NASDAQ lost 6 points (-0.25%). Oil prices climbed 2% on Friday on supply disruptions in Nigeria and the North Sea and renewed tensions between the U.S and Iran. Prices increased US$2.46 a barrel to US$118.52. Looking ahead, Q2 borrowing announcement will...
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Hungarian Central Bank Hikes Key Interest Rate 25 Bps to 8.25% as Expected
2008-04-28 17:17:00
08:40 04/28 ? As expected, the Hungarian Central Bank hiked its benchmark interest rate 25 bps to 8.25% on Monday morning following a 50bp hike at the previous meeting on March 31.Speaking at a press conference following the announcement, András Simor, governor of the Hungarian Central Bank, emphasized that the focus was on fighting inflation and preventing second-round effects. He also said the Bank was ready to raise rates further if necessary.Simor also said that wage growth was faster than previously anticipated.In March, the country's CPI rose 6.7% year-over-year, just above expectations for a 6.8% increase but below the previous month's 6.9% rise.At the same time, the country had also announced fourth-quarter GDP to have risen 0.8% year-over-year.
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German States See Decline in CPIs In April
2008-04-28 17:16:00
08:15 04/28 (Frankfurt) ? On Monday, four out the six main German states reported falling prices for April . Hesse, Brandenburg, Baden Wuerttemberg, and Saxony all experienced 0.2% price declines, with prices in the North Rhine-West region falling 0.3%. A Lehman Brothers research note listed three main reasons for the price declines.The first reason is due to the Easter holiday occurring in March. With Germans going on holidays, hotel and leisure prices had risen since previous month. However, the research note indicates that this price increase was expected to reverse itself in the month following Easter.The second reason for the decrease is due to hikes in education costs which occurred in May 2007. As 2008 progresses, the annualized effects of the tuition increases will diminish.?Finally, the monthly dynamic in the energy and food sectors ? the largest contributors to the recent strong inflation data ? showed some cooling off in April, confirming the fading off of the price shock ...
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Daily Forex Overview
2008-04-28 17:15:00
Previous session overviewOn Friday, the U.S. dollar hit a three-week high against the euro and a nearly two-month high against the yen as investors became less sure the Fed Reserve might cut rates this week.Survey by Dow Jones Newswires of economists calls for no change at 2.25%. Markets are concerned that the Fed's easing cycle may be nearing its end.The euro fell to a three-week low versus the dollar on the release of a European Central Bank report showing money supply growth slowed more than economists forecast in March. The news added to the euro's woes from earlier this week, with weak data on euro zone manufacturing and German business sentiment. EURUSD traded at a high of 1.5707 and a low of 1.5555, before closing at 1.5605 in New York.Sterling climbed one percent to a three-week high against the euro and steadied against the US dollar, mostly driven by increasing concerns about the health of the euro zone economy and key trading technical levels. GBPUSD traded at a high of...
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Last week European data knocked off Euro from record 1.6019 high
2008-04-28 17:14:00
Last week's rally in the Dollar may have also led some investors to sell the currency ahead of the weekend to cash in profits, traders said. On Friday, Dollar had limited reaction to a report showing US consumer confidence fell for a third straight month, touching its weakest in more than 25 years. In Euro pe, the Ifo German business sentiment index showed the biggest monthly fall since September 2001 on Thursday, taking the April headline number to a two-year low. The percentage chance the Fed will keep its benchmark interest rate unchanged at 2.25% at this week meeting rose to about 26%. Just a week ago, futures markets were pricing between a 25 to 50bp cut. Meanwhile, FX participants were paring bets that the ECB's next move will be a hike in benchmark interest rates.News and Events:The dollar rose last week against a basket of major currencies boosted by a growing view that the Federal Reserve may stop cutting interest rates. US economic data last week showed resilience in some...
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USD Gaining Power
2008-04-28 17:09:00
Economic NewsUSD Last Friday, the greenback kept up its sharp bullish momentum against most of its major rivals. The USD gained as a result of favorable economic data, which was released from the US during the last week, combined with disappointing indicators released from the Euro-zone. The USD added almost 1% to its value against the EUR, appreciating from Wednesday's all-time low of 1.6017. The greenback also climbed to a 2 months' high vs. the JPY when it closed trading at 104.80. By midday Friday, the USD strengthened against the EUR, trading in a range of 1.5655 to as low as 1.5590. Speculations on the FED halting Interest Rate cuts and a rally on the dollar during the week, which may have led investors into taking profit ahead of the weekend, supported the dollar during trading session.It's a major shift in sentiment regarding the outlook of Interest Rates and we may see the dollar strengthening until the next Fed meeting. The perceived odds of the Fed keeping its benchmar...
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Greenback starts firm then falls in Europe - Evening session - GMT
2008-04-28 17:02:00
Overnight Asia/Europe ? Greenback starts firm then falls in Europe? Lots of rhetoric from Europe? Technical trade dominatesToday?s Economic Reports? None in the USSummaryThe USD is slightly weaker this morning after a quiet start in Asia last night; traders note that firmer equities in Asia had no impact on USD/JPY this time and most feel that the market is sidelined ahead of FOMC rate announcements on Wednesday. Desks report some early demand for USD/JPY but once the European markets opened the demand fizzled; high prints in USD/JPY at 104.83 after a slow start. Exporters are noted to be ready on the offer at 105.00 with stops resting above traders say. GBP had a slow start as well but follow-through bids from Friday lifted the rate into early stops at the 1.9850/60 area and a high print in Europe at 1.9913 before dropping back when selling emerged in the EURO-Sterling cross; lows in Asia currently unchallenged at 1.9780 in early NY trade. Lots of rhetoric out during European trade ...
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Automatic Forex Trading Systems - Finding the Best for Profits
2008-04-28 03:04:00
Automatic forex day trading systems allow traders to make money by simply following forex trading signals which are generated by the system they are following. It's time efficient and allows you to make money without much effort - but how do you find a good system?If you want to get rid of 99% of systems advertised on the net which are destined to lose - look for the disclaimer below and pass it by.Read the disclaimer carefully:"CFTC RULE 4.41 - Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profit or losse...
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Thoughts on Managing Money
2008-04-27 15:39:00
We often hear from students by letter, telephone, and in person at seminars, that they greatly desire to trade managed money.At the opposite end of the spectrum, we also hear from students who want money managed for them. In either case, the experience can be gut wrenching.This chapter should serve as a warning and a caution to both. Since your author has at one time or another engaged in managing money for others, I base what I have to say here on my own experiences and, if it please the reader, this may be entitled "Confessions of a Trader."The psychological basis for successful trading is indeed a delicate subject. No one we have ever heard of has been able to pinpoint exactly what it is that gives one trader success while another trader fails. Although some claim to have done this, coming up with an attribute profile of the "average" winner, no one we know of has identified a set of common denominators among professional winning traders. Besides, which of us is "average?" Is it ...
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What makes a good Trading Strategy?
2008-04-27 15:15:00
Ask most NEW traders, and they will tell you about some moving average or combination of indicators or a chart pattern that they use. This is, as the more experienced trader knows, an entry point and not a strategy.Any trader who is more experienced will say a strategy should also include money management, risk control, perhaps stop losses and of course, an exit point. They might also say that you must let your profits run and cut your losses short. A well-read trader will also tell you that your strategy should fit with your trading personality.BUT there is one other vital ingredient that many traders forget - and that is to fully understand the "personality" of what you trade. Some traders specialise in say, gold or Brent crude or currencies or they might specialise in a particular index such as the FTSE 100 or the Dow but many traders choose to trade shares. Indeed some traders dabble in a bit of everything. I think this is the area that causes many traders to fail or at least no...
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Currency Majors Technical Analysis
2008-04-25 17:44:00
European SessionEUR/USD - Euro Dollar1,5680. EUR USD is in a consolidation after the last bearish movement. The volatility decreases. Bollinger bands are parallel and form the trend. ForexTrend 1H (Mataf Trend Indicator) is in a bearish configuration. 4H ForexSto (Modified Stochastic) indicate a bearish pressure on EUR USD. The downtrend should continue on 1,5600 (80 pips) support. We won't take a position. Resistances1,5710 - 1,5760Supports1,5640 - 1,5600GBP/USD - British Pound Dollar1,9744. GBP USD broke 1,9770 support. GBP USD is in a consolidation after the last bearish movement. The volatility is low. Bollinger bands are flat. ForexTrend 1H (Mataf Trend Indicator) is in a bearish configuration. The downtrend should continue on 1,9600 (145 pips) support. We won't take a position. Resistances1,9760 - 1,9800Supports1,9690 - 1,9600USD/CAD - US Dollar Canadian Dollar1,0159. USD CAD is in a range between 1,0135 and 1,0210. USD CAD moves without trend and swings around exponential m...
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The dollar will fall to 1.60 again in near term
2008-04-25 17:43:00
EUR/USD (1.5683)European & US sessions forecast levels: 1.5605/1.5770Trend Sessions: European: NeutralUS: NeutralMarket Focus: 10:00 AM Michigan Sentiment-Rev, 2:00 AM German Import Price Index, M3 Money Supply.Daily Strategy: The dollar continues to gain against the euro. The dollar was supported by the worse than expect Germany Ifo Business expectations and some comments of key economists from Europe. But the data for the US economy remain too worse. The New Home Sales for March is again with new poor result. Having a mind that the situation in the US economy remain worse and the bottom is not reached we can say that the dollar recovery is temporary. In near term we expect to see levels of 1.60 again. The potential of the dollar recovery is still few days when the tendency from this week will end.
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Forex Technical Analysis
2008-04-25 17:42:00
EUR/USDDaily Analysis 25 April 2008Current level-1.5583The currency pair is in an uptrend unfolding from the 1.2484 bottom and probably ahead of a significant reversal on weekly basis. The technical indicators are rising and the trading is situated above the 50-day and the 200-day SMA, currently projected at 1.5317 and 1.4516.The downtrend from the recent high at 1.6018 has corrected nicely to 1.5706 and is in the next leg downwards, targeting 1.5497. Around the mentioned level a reversal should be expected and an interim bottom will be build for a rebound to 1.57+.resistancesupportintraday intraweek1.5612 1.60-sentiment1.5719 1.6346intraday intraweek1.5569 1.54971.5497 1.5341 USD/JPYDaily Analysis25 April 2008Current level - 104.36The pair is in a clear downtrend from the 114.66 top, after completing the broad consolidation since 107.21. The technical indicators are falling on daily basis and trading is situated between the 50- and 200-day SMA, currently projected at 102.74 an...
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Major Currencies
2008-04-25 17:41:00
EUROThe 15 nation currency plunged yesterday after surpassing the major support level at 1.5800, reaching its lowest at the key support level 1.5626. As today, it might continue within the downside channel, with expectations that it might reach the major support levels at 1.5580, though a upside wave might be set in the early trading session. The trading range for today might be among the key resistance level at 1.5900 and the key support level at 1.5550. The general trend is to the upside as far as 1.4260 remains intact, targets now are at 1.6080 and 1.6360. Support1.5667 1.5626 1.5600 1.5577 1.5550 Resistance1.5728 1.5748 1.5780 1.5800 1.5832 RecommendationWe expect selling below 1.5730 with targets at 1.5600, stop loss above 1.5785 GBP The Royal currency retreated yesterday from the strong resistance level at 1.9819 to rally to the downside afterwards, reaching to a sensitive downside level, after testing the descending trend line at 1.9682 level, at the time the pound had surpa...
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US Dollar surges on back of positive data and growing speculation of Fed ho
2008-04-25 17:39:00
CURRENCY TRADING SUMMARYU.S. Dollar Trading (USD) surged against the Euro on Thursday, the most it has risen against the Euro since December, as traders add to bets the Fed will cease their rate cutting stance to stimulate economic growth and ease the liquidity problems as affects from their previous rate cuts are now starting to be seen. Orders for U.S Durable Goods excluding transportation equipment increased more than forecast in March, indicating parts of the economy are weathering the housing slump. Jobless Claims came in ahead of the forecasted 375k, with 342k reported this week an improvement on last week?s 375k. New Homes for March came in at 526k, slightly down on the predicted 580k and down on the 575k for the month of February, indicating the housing sector in the U.S is still struggling with the credit squeeze. Chicago Board of Trade (CBOT) now shows a 22% chance the Fed will hold the target lending rate at 2.25%, compared with no chance last week. In share market news, ...
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Dollar rose after better US employment report and large fall in German Ifo
2008-04-25 17:37:00
The Dollar rose across the board on Thursday after US government data showed resilience in the labor market, while a key measure of business sentiment in German y plunged undermining the Euro. The Euro's fall followed an early week rally to a record 1.6019 on Tuesday, the highest level since the Euro?s inception in 1999, as investors bet the ECB would raise interest rates to restrain inflation. The headline Ifo index fell to a much lower-than-expected 102.4 in April, its lowest since January 2006. The Ifo, coupled with a slump in the euro zone manufacturing PMI to levels nearly implying an economic-contraction on Wednesday, suggested that the euro zone may not be immune to a US economic slowdown. ECB President Jean-Claude Trichet said on Thursday that there is concern about the impact of currency fluctuations on financial stability. The Dollar's gains come as investors look closely at whether the Federal Reserve might be ready to pause in its aggressive run of interest rate cuts af...
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Analysis - Morning session - GMT
2008-04-25 17:36:00
GBP/USD DailyResistance 3: 1.9850Resistance 2: 1.9820Resistance 1: 1.9780Latest New York: 1.9738Support 1: 1.9700Support 2: 1.9680Support 3: 1.9650Rate back below the 1.9900 handle on the day; look for continued pressure back to the support zone around the 1.9750 area.Stops drove trade lower overnight and rate is holding lows in early New York action. Close below the 1.9800 handle opens the door for a test of the 2008 lows I think but first a bounce is likely; SELL THE BOUNCE in my view. Upside is limited in my view but ranges can be wide as evidenced by the past 48 hours of trade. Sell rallies if not short; buying dips dangerous in my view.Aggressive traders can sell over the 1.9820 area during the day; still UNABLE on that action.USD/JPY Daily Resistance 3: 105.00Resistance 2: 104.80Resistance 1: 104.50Latest New York: 104.35Support 1: 104.00Support 2: 103.50/60Support 3: 103.10/20CommentsExtra effort by the bulls cleans out stops and makes the 105.00 area in view now...
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EUR drops sharply as it shows extreme sensitivity to downside data surprise
2008-04-25 17:31:00
UK Q1 GDP on tap as GBP finally takes back some ground against EUR. AUD on weak footing with commodities tumble. MAJOR HEADLINES ? PREVIOUS SESSIONJapan Tokyo Apr. CPI ex Food and Energy out at 0.0% vs. 0.1% expected Japan Mar. National CPI ex Food and Energy out at 0.1% vs. 0.0% expected Germany Mar. Import Price Index rises 0.4% vs. 0.6% expected MoMTHEMES TO WATCH ? UPCOMING SESSIONKey Risk Events (All times in GMT) Sweden Mar. Trade Balance (0730) Switzerland SNB's Roth to Speak (0800) UK Q1 GDP (0830) EuroZone ECB's Gonzalez-Paramo to speak (1045) US Apr. Final University of Michigan Confidence (1400) EuroZone ECB's Ordonez to speak (1500)Market CommentsThe German IFO reading surprised to the downside for the first time in several months with a reading of 102.4 vs. 104.3 expected and 104.8 in March. While the magnitude of the drop was not enormous, it was the lowest reading since early 2006 and sets up the idea that the German miracle may finally be flagging. EURUSD was at t...
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Daily Forex Overview
2008-04-25 17:31:00
Previous session overviewOn Thursday, the dollar enjoyed a remarkable gain against its major rivals on a shift in U.S. interest rate expectations, and fortified by jawboning from European Central Bank officials. The euro fell to almost a three-week low, down to $1.5638 - a sharp turnaround from Tuesday, when it rose to a fresh historic high of $1.6020.ECB President Jean Claude Trichet expressed concern about the sharp fluctuations in exchange rates and weaker-than-expected euro zone data.EURUSD traded at a high of 1.5896 and a low of 1.5638, before closing at 1.5681 in New York trading.Sterling fell against the dollar but rose against the euro as contrasting data from the UK economy gave investors mixed signals on potential upcoming interest rate cuts by the BoE. Yearly retail sales data was revised up, leaving sales growth strong over the first quarter of the year. GBPUSD traded at a high of 1.9815 and a low of 1.9688, before closing at 1.9746 in New York.The Japanese Yen (JPY) los...
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URO drop and GBP rise to handle the European crosses?
2008-04-25 17:30:00
The expected move has began.EURO is now dropping and GBP is rising as contrarian move to drop EURO/GBP cross.Week end we will see more such swings as volatile moves and later the corrections in all will continue from next week.We will see big corrections in other majors soon - watch and understand how the rise takes prolonged time and the corrections happen in a few days.
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Daily Forex Analysis
2008-04-24 16:55:00
EUR/USD Current level-1.5833The currency pair is in an uptrend unfolding from the 1.2484 bottom and probably ahead of a significant reversal on weekly basis. The technical indicators are rising and the trading is situated above the 50-day and the 200-day SMA, currently projected at 1.5317 and 1.4516.240 min.chart Yesterday's slide managed to break below the crucial support at 1.5896, setting target at the 1.5782-96 dynamic support. Although 1.60+ appears to be pretty strong resistance level we still hold on to our view, that the upside potential is not over yet, targeting 1.6103.resistancesupportintradayintraweek 1.60191.60-sentiment1.61021.6346intradayi ntraweek1.5786-931.56691.57071.5341 USD/JPYCurrent level - 103.67The pair is in a clear downtrend from the 114.66 top, after completing the broad consolidation since 107.21. The technical indicators are falling on daily basis and trading is situated between the 50- and 200-day SMA, currently projected at 102.74 and 110.57. 240 min....
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USD/CHF ? Market strategy is bullish, buying till the 1.0235 level
2008-04-24 16:54:00
USD/CHF-market strategy can be a buy till the level 1.0235Technical oscillators supporting the bullish trend for the currency pairTo strengthen our analysis; we use many other indicators, starting with MACD (Moving Averages convergence divergence); we notice the MACD lines after a bullish crossover above the zero line. In order to find the power of the market, we use RSI (Relative Strength Index).With RSI; we can determine that the market is in a bullish direction. Also, MA oscillators indicate a bullish cross on the short MA line. As seen on the chart there are two bottoms leading upwards to a buying trend. Although slightly over bought today.
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EUR/USD-market strategy can be a sell till the 1.5766$ level
2008-04-24 16:53:00
EUR/USD-market strategy can be a sell till the level 1.5766$Technical oscillators supporting the bearish trend for the currency pairTo strengthen our analysis; we use many other indicators, starting with MACD (Moving Averages convergence divergence); we notice the MACD lines after a bearish crossover below the zero line. In order to find the power of the market, we use RSI (Relative Strength Index).With RSI; we can determine that the market is in a bearish direction. Also, MA oscillators indicate a bearish cross on the short MA line. As seen on the chart there are two tops leading downwards to a selling trend, although slightly over sold according to Bollinger.
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