Technical Summary for Majors
EURUSD Extended upleg from 1.3264, 13 Jun low, to 1.3478 on 26 Jun, ahead of correction. Market dipped to 1.3415 yesterday, leaving a higher low, ahead of fresh push higher attempting at 1.3478 (1.3481 reached so far). Break there opens 1.3500/13 next, possibly 1.3538/54 on a break, while 1.3435, 20 Jun high/trendline off 1.3264, offers immediate support. Res: 1.3481, 1.3500, 1.3513, 1.3538 Sup: 1.3435, 1.3420, 1.3415, 1.3393 GBPUSD Advance from 1.9622 broke above 2.0000 area on
Mid-Day Forex Technical Report - Markets Steady ahead of FOMC
Forex Mid-Day Technical Report Markets Steady ahead of FOMC With little reaction to US data, markets remains steady ahead of FOMC rate decision and statement. Final print of US Q1 GDP saw growth revised higher to 0.7% annualized from 0.6%. Also, there were significant revisions to inflation data with core PCE index revised up to 2.4% annualized from 2.2% previously. The 0.2% point increase fed through to the headline PCE (3.5% from 3.3%), GDP deflator (4.2% from 4.0%) and core GDP deflator
S&P 500 Likely To Move Higher But Watch Out! - Thursday Is Fed Day!
Most Recent Trading Day With Pivot System. S&R Levels and 5, 15, and 30 Minute 20EMAs. Historical Volatility & Narrow Range Days. Expect range expansion when HisVol is low. Pivot System S&R Levels Used to determine relative value. Signficant shifts in market psychology often occur near these levels. DP 1511.17 R1 1527.83S1 1502.33 R2 1536.67S2 1485.67 R3 1545.50S3 1476.83 Pattern Signals A pattern recognition technique which identifies today's most likely scenario based on recent
Energies offered congestion and choppy trade this past week
For the Week Ending June 22nd, 2007 Energies Energies offered congestion and choppy trade this past week, a potential setup to a major trend changing week ahead. If the market fails trend line support and breaks, it could easily see a technical collapse. This is a critical week to see a break through $70 for the bulls, otherwise this market could fall apart rather quickly. Strangles, bear butterfly spreads and straight option buying
Asian stocks recovered led by energy producers and exporters in Japan
• Indian sensitive index rose. ACC Ltd. led the gains in cement makers after Morgan Stanley said prices of the building material could increase. The Sensex climbed 73.51, or (0.5 %), to 14,504.57 while the Nifty Index rose 18.05, or 0.4 % to 4,282. ACC Cement gained 8.3%. • The BSE Bankex rose by 34.2 points to 7786.72 with Canara Bank and Bank of India amongst the top gainers. Canara Bank rose by 2.28% while ICICI Bank rose 0.48% to 942.9. • Asian stocks recovered led by energy producers and
U.S. Treasuries were little changed
• Indian bonds extended gains on speculation of fewer debt sales and a lower inflation number tomorrow. The yield on the 7.49% bond due April 2017 was at 8.19% • India call rate closed at 7.90-8.00%. RBI lent INR 94 bn to the market. • U.S. Treasuries were little changed on speculation that the Fed will leave interest rates unchanged for an eighth month. The yield on the benchmark 10-year note was at 5.10%. Download Full Daily Market Report: Debt
Gold prices rose amid speculation that higher oil prices will increase demand for the metal
• Crude prices were little changed and remained close to a nine month high as US gasoline stockpiles fell. Crude for immediate delivery was at $69.62 per barrel in New York. (18.00 IST) • Gold prices rose amid speculation that higher oil prices will increase demand for the metal. Gold for immediate delivery was at 647.4 USD/oz in London. (18.00 IST) Download Full Daily Market Report: Commodities
Market lacks direction ahead of US data
We do expect some volatility post Finalized US GDP Q2, but it should be capped as FOMC minutes are tonight at 18:15 GMT where Fed will likely comment on inflation still remaining the greatest fear. MAJOR HEADLINES – PREVIOUS SESSION BoE: King says output growth resilient in face of higher interest rates. UK: King says MPC will continue to monitor closely price intentions indicators. BoE: Lomax says wants to see more data before she decides on her next move. BoE: Tucker and Blanchflower did not
The Sterling rode high against the Dollar on the back of strong housing data
• The Rupee appreciated today amidst expectations of inflows and lack of NDF demand. The USD/INR pair ended at 40.83 from 41.00 earlier. • The 6-month and 1-year forward premium was at 2.91% and 2.83% as compared to 3.35% and 3.03% previously. • The Sterling rode high against the Dollar on the back of strong housing data that raised expectations of a BoE rate hike in July. EUR/USD was at 1.3465 from 1. 3435 yesterday and GBP/USD was at 2.0023 from 1.9959 yesterday. JPY/USD was at 122.93 from
The Sterling rode high against the Dollar on the back of strong housing data
• The Rupee appreciated today amidst expectations of inflows and lack of NDF demand. The USD/INR pair ended at 40.83 from 41.00 earlier. • The 6-month and 1-year forward premium was at 2.91% and 2.83% as compared to 3.35% and 3.03% previously. • The Sterling rode high against the Dollar on the back of strong housing data that raised expectations of a BoE rate hike in July. EUR/USD was at 1.3465 from 1. 3435 yesterday and GBP/USD was at 2.0023 from 1.9959 yesterday. JPY/USD was at 122.93 from
Bears down
It was a bad day to be a bear. Bearish oil traders tried to front run the weekly supply report from the Department of Energy but in the end just kind of got run over. The market reaction to the DOE report probably gives us a new definition of Bear Tracks as in the tire tracks embedded in the hide of the bear when the truck ran them over! Oil came roaring back after bearish traders got burned by betting on a wildly bearish DOE report. The bears knew they were in for a rough day
The Japanese yen has weakened anew as risk aversion has come back in vogue
The rise in risk aversion we wrote about yesterday that was due to renewed concerns about the subprime mortgage market seems to have dissipated somewhat, at least for now. Despite weaker-than-expected data on durable goods orders in May, the U.S. stock market posted a decent gain yesterday (the S&P 500 was up 0.9%) and yields on Treasury securities rose. The rally on Wall Street spilled over to Asia last night with most major indices in the region up 1% or so, and European bourses
Daily Scalping Tip
BUY EURUSD @1.3485, SL @1.3470, TP @1.3495 Signal Time: June 28, 2007 12:35 GMT STATUS: -ON -
Daily Scalping Tip
SELL EURUSD @1.3449, SL @1.3464, TP @1.3439 Signal Time: June 27, 2007 11:25 GMT STATUS: -WON -
(PipsandTips.com)
Forex Technical Report USD/CHF
USD/CHF 1.2270 - 28 June 2007 USD/CHF Open 1.2288 High 1.2324 Low 1.2255 Close 1.2291 Trading yesterday was quiet and the US Dollar was in the range 1.2274 - 1.2302 Swiss Francs. This morning the currency pair was exchanging at levels 1.2276 - 1.2296. If today the US Dollar gets through the resistance zone at 1.2304 Swiss Frank, next target will be reaching and testing the 1.2346 level. If successful the upwards movement will continue towards 1.2382. If the currency pair breaks under the
World: Strong growth, less spare capacity
The world economy continued to grow robustly in the first half of 2007. With leading indicators moderating only slightly at a time of diminishing spare capacity, central banks remain in tightening mode. Food price inflation suggests faster appreciation of the undervalued Chinese yuan and Indian rupee. Indicators available at this writing are consistent with an inventory-led rebound of U.S. GDP growth in Q2. Whether the rebound will carry into the second half of the year is uncertain. The
London Gold Market Report
SPOT GOLD PRICES continued to climb during the Asian and early London sessions on Thursday, hitting $647 just ahead of the US open – a gain of 1% from the low hit on Monday. The move was slightly muted for British investors, as the Pound rose back above $2.00 versus the Dollar to a two-month high on the currency markets. That capped the Sterling price of gold at £323.22 per ounce by lunchtime in London. The gold price in Euros also climbed 0.8% higher from Monday's low, spiking above €480 per
Daily Forex Forecast
DAILY FX FORECASTS If you open a real account with our clearing broker FXCM LLC - New York reffered by us you will receive Free Forex Forecasts by FX Dream. For more information, please do not hesitate to contact us at contact@fxdream.com FXDREAM EUR/USD Date: Thu, 28 June 2007 13:10:05 Resistance levels: 1.3475/1.3500/1.3550 Support levels: 1.3420/1.3400/1.3370 EUR/USD has remained ranged in the last trading hours below 1.3470-75 area as it was suggested Today focus will be on US GDP
FX Thoughts for the day - Evening - 28-June-2007....1130 GMT
EURO, JAP YEN and EURO-YEN --------------------------- Read our current comments and trade recommendations on EUR-USD, USD-JPY and EUR-JPY by registering at http://www.kshitij.com/fxthoughts/fxthoughts.shtml#register Our comments on Dollar-Swiss, Sterling Pound and Australian Dollar are given below --------------------- USD-CHF @ 1.2276/81….……Bearishness Maintained ------------------------------------------------------- R: 1.2310-15 / 1.2330-35 S: 1.2260 / 1.2230 / 1.2200 USD-CHF has been
The Fed will keep the rates at 5.25% today
A couple of key news moving the forex market today. The most important news is the expecting Fed interest rates to keep at 5.25% later today. The Fed chairmen Ben Bernanke, close monitor the US growth, very important factor for the interest rates. Today is expecting the gross domestic product for the first quarter to up with 0.2% considering the prior estimate. The analysis and economist are in consensus for the Fed action today to keep the rates unchanged at 5.25% a level for already a year.
WTI rebounds
The inventory data put WTI Crude back in bullish territory. Yesterday's show of strength is expected to continue throughout the rest of the week.
Publisher: info@saxobank.com (Saxo Bank) posted at Thursday, 28 June 2007 18:08:43
Energy markets should be approached from the long in the next two trading session
Energies It is amazing how one reversal can change the picture. Yesterday, we saw that in WTI crude. After having appeared to be set for a further extension lower, WTI staged a major comeback and has moved back into bullish territory. Many traders, including yours truly, were caught on the wrong foot and scrambled to get out, once major resistance was broken. The weekly inventories actuals were as following: Crude 1562k vs 1600k; Gasoline -749k vs 1040k; Distillates -2275k vs
Yesterdays main bullish driver was the durable goods number
Treasuries The subprime CDO market in the US continues to be the main source of concern in debt markets presently. The FOMC decision is the current market concern and any comments about the subprime market will be watched closely. Yesterdays main bullish driver was the durable goods number, however the recovery staged by the stock market brought back major resistance to US treasury prices. The main topic of the FOMC will be core inflation. The recent slowing in core inflation will
US equity market recovery leads to weaker JPY
Key Points • US equity market recovery leads to weaker JPY, but room for further volatility in the short-term before conditions truly stabilise. • MPC members offer few overall clues about outcome of next week’s meeting – market will continue to look for rate hike. • Fed meeting in focus today. Market Outlook A late stabilisation in US equity markets helped to shore up the fragile global sentiment that was developing yesterday. EURJPY in particular has managed to bounce back. However, patching
Daily FX Commentary
Fed To Hold Steady The dollar strengthened to 1.3420 against the Euro in early Europe on Wednesday, but failed to sustain any momentum and weakened back to 1.3445 in US trading as narrow ranges dominated again. The US currency edged weaker in early European trading on Thursday, but found some support weaker than 1.3470. US durable goods orders fell by a larger than expected 2.8% in May and there was a 1.0% underlying
Crude Market Update
- The EIA releases its weekly natural gas inventory data today at 10:30 a.m. According to a widely followed wire survey, natural gas inventories are expected to have risen 82bcf last week. Yesterday the EIA reported that crude oil inventories rose slightly more than expected by 1.56M barrels, gasoline inventories rose less than expected by 1M barrels and distillate inventories fell more than expected by 749K barrels. - Following the withdrawl of ConocoPhillips and Exxon Mobil from Venezuela
Treasury Market Preview
- On the US calendar today are the releases of Final first-quarter GDP annualized, personal consumption, GDP price index, and core PCE, along with initial jobless claims and continuing claims, all of which are due out at 8:30 ET. Also on the calendar is the release of the May help wanted index, as well as the FOMC rate decision. There is no new supply in the US today, and there are on central bank speakers scheduled. - Regarding today’s data, the final first-quarter readings on personal
German Unemployment Rate Drops to Lowest Level Since 1995
- The European indices are trading higher in today’s session after trading lower for six consecutive days. European equities are trading higher on the back of rising commodity prices. - European government bonds opened lower in the session, and continued to decline following somewhat hawkish comments from the ECB’s Liebscher. In new supply overnight the Italian treasury sold €2.0B 3-Yr BTPs with an average yield of 4.47% and a bid-to-cover of 1.73 (previously covered 1.7x), as well as €1.5B in
EUR/NOK
Comment: Picking up the pace a bit after a very slow start earlier this year. The break below the psychological and pivotal level at 8.0000, courtesy of a hawkish Norges Bank, has added considerably to bearish momentum. A monthly close below 8.0000 is needed to confirm such an important break and should see the Euro retreat all the way down to critical support at 7.7500/7.7000 medium term and possibly all the way down to 7.2500 long term. Strategy: Sell at 7.9500; stop above 8.0500. Add to
EUR: The outlook remains bullish above 1.3384 support today
EUR/JPY Daily Technical Forex
Current level at 11:53 CET is 165.74, trading above the daily pivot point at 165.07, having bounced off second support yesterday at 164.25. Resistance levels today are at 166.00 and thereafter at 166.80 ahead of the previous high of 166.96. Hourly momentum readings favour the upside for the moment. The daily Ichimoku cloud top has advanced to 162.54. Support levels today are at 164.28 and thereafter at 163.36.
USD/JPY Daily Technical Forex
Current level at 11:40 CET is 123.12, trading above the daily pivot point level of 122.75, the market having rebounded off the previous ruptured high of 122.19. Resistance today is seen at 123.31 and then at 123.83, ahead of the previous high of 124.15. Hourly momentum readings suggest more upside to come today. Daily Bollinger and standard error bands still point to the upside.
Daily Technical Strategy for Aggressive Profits
Hello Dear Traders : In a few hours we will have news from the Federal Reserve. Stay tuned for live signals!! Cashmonster: SELL AUDUSD At 0.8434 TP1 0.8425 TP2 0.8407 TP3 0.8392 S L 0.8461 Cashmonster: BUY USDJPY At 122.43 TP1 122.52 TP2 122.70 TP3 122.92 S L 122.07 have a great Trade! Results in our website are evaluated by our own members
EUR/USD Daily Technical Forex
Current level at 11:15 is 1.3454, trading above the daily pivot point level of 1.3440 with hourly momentum readings supportive and daily standard error bands still pointing to the upside. This market is still moving inside the daily Ichimoku cloud, which has its base now at 134.32. The relatively low daily ADXR readings stress the lack of direction currently evident in this market.
US Treasuries backtrack in late session as equities rally
Markets: Fixed Income On Wednesday , Bond markets remained in the grip of the overall uncertainty and the associated risk aversion, but eco data, especially the weak US durable orders affected trading too. Late in the US session, investors turned again to equities and other more risky assets and this pushed bonds lower. This came too late to affect EMU bonds, which yields fell by 2.5 to 5.5 basis points flattening the curve. In the US, yields actually backed up 2.7 to 0.2 basis points, also
GDP & US Interest Rates Decision.
Economic News USD Yesterday provided us with a mix day of data which was published in the US and led to the strength of the USD while a reduction was expected. Data such as: Durable Goods Orders, Core Durable Goods Orders and Crude Oil Inventories. The USD has strengthened mainly due to the FOMC meeting and despite the larger than expected drop in durable goods orders in the month of May from 1.1% to -2.8%, but as it seems, the American federal reserve is
Forex Technical Report GBP/USD
GBP/USD 2.0041 - 28 June 2007 GBP/USD Open 1.9985 High 2.0041 Low 1.9931 Close 1.9992 Trading yesterday was quiet and the Pound was in the range 1.9927 - 1.9992 US Dollars. This morning the currency pair was exchanging at levels 1.9991-2.0040. If today the Cable get through the resistance zone at 2.0007 US Dollars, next target will be reaching and testing the 2.0047 level. If successful the upwards movement will continue towards 2.0080. If the Pound breaks under the support zone 1.9976 US
Thursday, June 28, 2007
Wednesday, June 27, 2007
Forex Signal & News
Market settling down after further Yen gains
Even if industrial numbers haven’t been quite so positive business confidence has remained steady in France with June registering a move higher to 110.0. This is higher than the forecast of 109.0 and May’s 108.0 reading. The production outlook saw a hefty rise of 9 points to 24 with past production just one point higher at 16. Foreign orders were down from 5 to 3. The level of confidence is towards its highs in this cycle and does reflect a still strong economy, even if it is off its highs. One point to look out for is any pullback following the climax of the presidential elections.
Indeed the recent softening in European data may well be filtering through the ECB board members minds with Wellink this morning possibly highlighting a mild change in perceptions. He retains the belief that the tightening cycle is still in force but said that future rate increases will be based on new economic data. He noted higher oil prices risk providing a drag on growth and that there is now also downside risk to expansion and thus it would appear that the out-and-out bullish views are beginning to recede.
The following economic releases are due today:
May
U.S. Durable Goods Orders - 1.0%
U.S. Durable Goods Orders (excl transport) +0.2%
June
Swiss KOF Swiss Leading Indicator 2.06
U.K. CBI Distributive Trade Survey: Expected 25.0
U.K. CBI Distributive Trade Survey: Realized 35.0
U.S. MBA Mortgage Applications (22nd)
The Yen continued to make gains in the Asian session falling below the 122.44-53 support area and should see losses extend to 122.05 and 121.35-48. This is pushing the 164.20 support in Euro-Yen as carry trades are being exited and there is a sense that the major high I have been looking for has been seen at 124.13. Indeed, this would tend to suggest that a major correction is now under way which will be confirmed by a break below 120.76 although there is probably likely to be a correction before that occurs.
Indeed, the strength of the Yen is spilling over into the European currencies which are also on the decline as cross trades get unwound. However, unlike the Yen these declines should be limited with the medium term direction still Dollar bearish.
With today’s releases not really looking as if they will wield any strong influence it could well be carry trades that dominate the day and could well be quite volatile.
Note important support and resistance areas:
USDJPY EURUSD USDCHF GBPUSD
Res: 123.50-90 1.3521-53 1.2364-88 2.0015-40
Res: 122.80-90 1.3454-78 1.2293-11 1.9960-65
Spt: 122.05-40 1.3405-14 1.2242-51 1.9910-23
Spt: 121.48-80 1.3345-70 1.2171-05 1.9818-52
See Also
Even if industrial numbers haven’t been quite so positive business confidence has remained steady in France with June registering a move higher to 110.0. This is higher than the forecast of 109.0 and May’s 108.0 reading. The production outlook saw a hefty rise of 9 points to 24 with past production just one point higher at 16. Foreign orders were down from 5 to 3. The level of confidence is towards its highs in this cycle and does reflect a still strong economy, even if it is off its highs. One point to look out for is any pullback following the climax of the presidential elections.
Indeed the recent softening in European data may well be filtering through the ECB board members minds with Wellink this morning possibly highlighting a mild change in perceptions. He retains the belief that the tightening cycle is still in force but said that future rate increases will be based on new economic data. He noted higher oil prices risk providing a drag on growth and that there is now also downside risk to expansion and thus it would appear that the out-and-out bullish views are beginning to recede.
The following economic releases are due today:
May
U.S. Durable Goods Orders - 1.0%
U.S. Durable Goods Orders (excl transport) +0.2%
June
Swiss KOF Swiss Leading Indicator 2.06
U.K. CBI Distributive Trade Survey: Expected 25.0
U.K. CBI Distributive Trade Survey: Realized 35.0
U.S. MBA Mortgage Applications (22nd)
The Yen continued to make gains in the Asian session falling below the 122.44-53 support area and should see losses extend to 122.05 and 121.35-48. This is pushing the 164.20 support in Euro-Yen as carry trades are being exited and there is a sense that the major high I have been looking for has been seen at 124.13. Indeed, this would tend to suggest that a major correction is now under way which will be confirmed by a break below 120.76 although there is probably likely to be a correction before that occurs.
Indeed, the strength of the Yen is spilling over into the European currencies which are also on the decline as cross trades get unwound. However, unlike the Yen these declines should be limited with the medium term direction still Dollar bearish.
With today’s releases not really looking as if they will wield any strong influence it could well be carry trades that dominate the day and could well be quite volatile.
Note important support and resistance areas:
USDJPY EURUSD USDCHF GBPUSD
Res: 123.50-90 1.3521-53 1.2364-88 2.0015-40
Res: 122.80-90 1.3454-78 1.2293-11 1.9960-65
Spt: 122.05-40 1.3405-14 1.2242-51 1.9910-23
Spt: 121.48-80 1.3345-70 1.2171-05 1.9818-52
See Also
Forex Signal & News 27/06/07
Forex Market Commentary for June 27, 2007 by Cornelius Luca
GFT Daily Forex Market Commentary
The dollar managed to shake away weak New Home Sales and Consumer Confidence reports and closed little changed again on Tuesday. Dollar/yen reversed early losses after verbal intervention against the carry trades failed. With the precious metals melting profits away the risk for the US currency is on the upside now.
Euro/dollar
Euro/dollar made little progress on Tuesday as well, so traders are still looking for the next short-term direction. The medium-term outlook is less bullish now, with the short-term outlook bearish.
Initial support is at 1.3425. Below the 1.3373 level there is support at 1.3264 from a pivot low.
Immediate resistance is still seen at 1.3480. A close above 1.3553 would signal another aggressive attack on the upside to 1.3610.
Oscillators are rising.
NEAR-TERM: Mixed with downside risk
MEDIUM-TERM: Bullish
LONG-TERM: Bullish
Dollar/yen
Dollar/yen recovered most losses from a 12-day low and is likely to consolidate in its major uptrend.
Initial support is at 123.00. Below it, key support comes at 122.50 from another 50-point pivot, which targets 122.00 and 123.00.
Immediate resistance is still seen from a 50-point pivot at 124.00 that targets 123.50 and 124.50.
Oscillators are rising.
NEAR-TERM: Mixed
MEDIUM-TERM: Bullish
LONG-TERM: Bullish
Sterling/dollar
Sterling/dollar hit a marginally new high on Tuesday, and this strength was helped by expectations for a rate hike. The medium-term outlook remains bullish, but more choppy trading is now likely.
Initial resistance now comes at 2.0016 from Tuesday’s high. Distant resistance remains between 2.0131 and 2.0151.
Immediate support is seen at 1.9975. If 1.9940l gives way on a closing basis, look for further decline to the support at 1.9910. That’s unlikely.
Oscillators are rising.
NEAR-TERM: Slightly bullish
MEDIUM-TERM: Bullish
LONG-TERM: Bearish
Dollar/Swiss franc
Dollar/Swiss franc recouped losses from an 18-day low again with help from the 55-day moving average. It should attempt to climb up from here.
Above the resistance at 1.2310 there still is good resistance at 1.2350.
The initial support is at 1.2261 from Tuesday’s low. The next support is seen at 1.2230. Strong support follows at 1.2175.
Oscillators are falling.
NEAR-TERM: Mixed with upside risk
MEDIUM-TERM: Bullish
LONG-TERM: Mixed
GFT Daily Forex Market Commentary
The dollar managed to shake away weak New Home Sales and Consumer Confidence reports and closed little changed again on Tuesday. Dollar/yen reversed early losses after verbal intervention against the carry trades failed. With the precious metals melting profits away the risk for the US currency is on the upside now.
Euro/dollar
Euro/dollar made little progress on Tuesday as well, so traders are still looking for the next short-term direction. The medium-term outlook is less bullish now, with the short-term outlook bearish.
Initial support is at 1.3425. Below the 1.3373 level there is support at 1.3264 from a pivot low.
Immediate resistance is still seen at 1.3480. A close above 1.3553 would signal another aggressive attack on the upside to 1.3610.
Oscillators are rising.
NEAR-TERM: Mixed with downside risk
MEDIUM-TERM: Bullish
LONG-TERM: Bullish
Dollar/yen
Dollar/yen recovered most losses from a 12-day low and is likely to consolidate in its major uptrend.
Initial support is at 123.00. Below it, key support comes at 122.50 from another 50-point pivot, which targets 122.00 and 123.00.
Immediate resistance is still seen from a 50-point pivot at 124.00 that targets 123.50 and 124.50.
Oscillators are rising.
NEAR-TERM: Mixed
MEDIUM-TERM: Bullish
LONG-TERM: Bullish
Sterling/dollar
Sterling/dollar hit a marginally new high on Tuesday, and this strength was helped by expectations for a rate hike. The medium-term outlook remains bullish, but more choppy trading is now likely.
Initial resistance now comes at 2.0016 from Tuesday’s high. Distant resistance remains between 2.0131 and 2.0151.
Immediate support is seen at 1.9975. If 1.9940l gives way on a closing basis, look for further decline to the support at 1.9910. That’s unlikely.
Oscillators are rising.
NEAR-TERM: Slightly bullish
MEDIUM-TERM: Bullish
LONG-TERM: Bearish
Dollar/Swiss franc
Dollar/Swiss franc recouped losses from an 18-day low again with help from the 55-day moving average. It should attempt to climb up from here.
Above the resistance at 1.2310 there still is good resistance at 1.2350.
The initial support is at 1.2261 from Tuesday’s low. The next support is seen at 1.2230. Strong support follows at 1.2175.
Oscillators are falling.
NEAR-TERM: Mixed with upside risk
MEDIUM-TERM: Bullish
LONG-TERM: Mixed
Monday, June 25, 2007
Forex Signal & News 26/06/07
Forex Market Outlook on Minors/Crosses
*************************************** INTRA-DAY GBP/USD OUTLOOK - 1.9980 Update Time: 25 Jun 2007 23:19 GMT Despite y'day's retreat fm 2.0007 to 1.9957, sub sequent rebound suggests consolidation with upside bias wud be seen, however, breach of said res is needed to confirm recent upmove has resumed n ex- tend gain twds 2.0030/35. Buy on dips with stop below 1.9948 (prev. res) as break wud signal temp. top is made, 1.9920/25... Range Forecast 1.9970 / 1.9995
Recent Recommended Trades
------------------------------------------------------ Update Time: 25 Jun 2007 13:02GMT INTRA-DAY EUR/USD OUTLOOK - +1.3470+ Euro's rebound after finding renewed buying at 1.3439 has retained our bullishness for re-test of Asian high of 1.3474, break wud confirm recent up- move has resumed n extend subsequent gain twds 1.35 00/10 b4 correction due to loss of momentum. Trade fm long side, stop as indicated n below wud risk stronger retrace. twds 1.3420/25 b4 up...
The sterling broke through 2 versus the dollar
6/25/2007 04:00 pm: EUR/$..1.3464 $/JPY..123.54 GBP/$..1.9977 $/CHF..1.2277 AUD/$..0.8461 $/CAD..1.0702 Sterling Touched $2 The sterling broke through 2 versus the dollar for the first time since May 1, on speculation that the Bank of England may quicken its monetary tightening process. Interest rate futures indicate traders have priced in two more rate increases till the year-end. Some even expect that the central bank may lift interest rates by 25 basis points as early as next month. The
Signals Tracker Report - Formula 1 Forex
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Signals Tracker Report - Profit Edge
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About us Agape Capital Investments has partnered with professional Forex Trader and Mentor Jordan Lindsey to provide the average investor with insight into his trading talents through his invaluable technical analysis knowledge and market creativity demonstrated through his unique trading approaches. Methodology All signals are sent via email on the 4 majors (EUR/USD, GBP/USD, USD/CHF, & USD/JPY) at 00:00 GMT. This trading method is a union of all three key elements that encompasses a
Signals Tracker Report - Critical Mass FX
About Us We are extraordinary people consumed with the desire to serve higher ideals. Daily we seek to become co-workers with our creator to serve life and make it better. To this end we use our vast and varied financial experience, intellect, and spiritual awareness as the foundation to offer this successful service to you. Throughout our learning curve we observed the spot forex market, matched our skills with other forex professionals and excelled in both market timing and currency
Signals Tracker Report - T Squared Trading
Summary of Services & Background T Squared Trading specializes in producing some of the most successful mechanical trading strategies in the industry. We strongly emphasize rigid risk management and position sizing as part of our trading methodology. Our daily, weekly, and monthly market commentary gives the client a technical and fundamental view of the market with our unique view of events and market action. Whether you are a new trader, or a seasoned veteran, we are confident you will
Signals Tracker Report - AceTrader
Birth of Trendsetter Ourcommentaries on DLR/DMK first appeared on Reuters page AABB in 1984.Since then, Trendsetter has come a long way. As a global specialistdata provider, our coverage now extends to more than 20 differentinstruments with a primary focus on Foreign Exchange market, serving awide range of users from professional investors, corporations totop-tier banks in over 60 countries. Forex dealers in the world's mostleading banks now regularly use Trendsetter's trading recommendations.
Daily Market Outlook
*********************************************************** Market Review - 25/06/2007 21:50 GMT Dollar falls against Japanese yen due to weak U.S. stocks The greenback fell against the Japanese yen to 123.31 on cross unwinding in jpy on growing concerns that more hedge funds may fail due to rising U.S. subprime mortgage defaults. Investors are now focusing on a report to be released on Wednesday which may show Japanese retail sales accelerated last month, adding to speculation the Bank of
Signals Tracker Report
Detail Information and Available PDF Report for listed company AceTrader T Squared Trading Critical Mass FX Agape FX Profit Edge Peippo Consult Formula 1 Forex Note: Click on any company name to view the company's full details and download the PDF report. Note for T Squared Trading: The company has an institutional branch named KEG Systems that utilizes a portfolio of similar strategies.
AUD, NZD
In my view, the AUD/NZD breaking down through the 1.1 level looks like almost imminent. I also perceive the New Zealand Dollar's pressure over the European currencies to still be considerable. Although it may seem paradoxical, just as the AUD/NZD descends through 1.1 I'd immediately start looking out for any early signs suggesting a shift of sentiment, from outright bullish to hardly discernable, in the New Zealand Dollar via its cross pairs. I think both the Australian and the New Zealand
AUD, NZD
In my view, the AUD/NZD breaking down through the 1.1 level looks like almost imminent. I also perceive the New Zealand Dollar's pressure over the European currencies to still be considerable. Although it may seem paradoxical, just as the AUD/NZD descends through 1.1 I'd immediately start looking out for any early signs suggesting a shift of sentiment, from outright bullish to hardly discernable, in the New Zealand Dollar via its cross pairs. I think both the Australian and the New Zealand
Yen Secures Gains to Start Week
The yen rebounded from record lows against the euro, and also pushed back against the dollar, as investors across the globe eased off the carry trade on sentiments that Japan could begin raising rates in the medium-term. A Chinese bank official said that he did not rule out a coming rate hike for Japan, which sent the yen higher as traders sold positions entered with borrowed Japanese currencies. The euro has been surging over the yen lately, hitting new highs on Friday. The euro fell back
*************************************** INTRA-DAY GBP/USD OUTLOOK - 1.9980 Update Time: 25 Jun 2007 23:19 GMT Despite y'day's retreat fm 2.0007 to 1.9957, sub sequent rebound suggests consolidation with upside bias wud be seen, however, breach of said res is needed to confirm recent upmove has resumed n ex- tend gain twds 2.0030/35. Buy on dips with stop below 1.9948 (prev. res) as break wud signal temp. top is made, 1.9920/25... Range Forecast 1.9970 / 1.9995
Recent Recommended Trades
------------------------------------------------------ Update Time: 25 Jun 2007 13:02GMT INTRA-DAY EUR/USD OUTLOOK - +1.3470+ Euro's rebound after finding renewed buying at 1.3439 has retained our bullishness for re-test of Asian high of 1.3474, break wud confirm recent up- move has resumed n extend subsequent gain twds 1.35 00/10 b4 correction due to loss of momentum. Trade fm long side, stop as indicated n below wud risk stronger retrace. twds 1.3420/25 b4 up...
The sterling broke through 2 versus the dollar
6/25/2007 04:00 pm: EUR/$..1.3464 $/JPY..123.54 GBP/$..1.9977 $/CHF..1.2277 AUD/$..0.8461 $/CAD..1.0702 Sterling Touched $2 The sterling broke through 2 versus the dollar for the first time since May 1, on speculation that the Bank of England may quicken its monetary tightening process. Interest rate futures indicate traders have priced in two more rate increases till the year-end. Some even expect that the central bank may lift interest rates by 25 basis points as early as next month. The
Signals Tracker Report - Formula 1 Forex
Summary of Services Forex trading signals that you can easily follow. We provide entry, stop-loss and profit taking prices on the EUR/USD, GBP/USD, USD/CHF, USD/JPY, EURJPY, AUD/USD, and USD/CAD. Our signals are strategically calculated and sent only once a day. Trading Methodology Our strategy is based solely on our proprietary Stop Entry Technique. Advantage of Formula 1 Forex Formula 1 Forex offers a Performance Guarantee: If the signals are not profitable, you pay zero. Here's how it
Signals Tracker Report - Peippo Consult
Trading Methodology No fancy indicators, no smart computer programs. Since markets came to life they have been ruled by movements of price and it is this raw price action that we trade. We monitor 11 currency pairs on a daily and weekly basis and send out alerts when a series of well defined high probability setups emerge. We give recommended levels for stop losses and profit targets. Trades can last anywhere from a single day to a few weeks depending on trends and momentum in the markets. Our
Signals Tracker Report - Profit Edge
About Us Profit Edge, LTD uses a state of the technologies to manage Forex accounts. We are a worldwide team successful Forex account managers with several years of experience and the highest standards of ethical behavior and professionalism in the performance of our duties. We offer our services to investors who do not have the time, experience or desire to trade the daily intensity of the market, and traditional investors who have been disappointed in poor stock market performance and prefer
Signals Tracker Report - Agape FX
About us Agape Capital Investments has partnered with professional Forex Trader and Mentor Jordan Lindsey to provide the average investor with insight into his trading talents through his invaluable technical analysis knowledge and market creativity demonstrated through his unique trading approaches. Methodology All signals are sent via email on the 4 majors (EUR/USD, GBP/USD, USD/CHF, & USD/JPY) at 00:00 GMT. This trading method is a union of all three key elements that encompasses a
Signals Tracker Report - Critical Mass FX
About Us We are extraordinary people consumed with the desire to serve higher ideals. Daily we seek to become co-workers with our creator to serve life and make it better. To this end we use our vast and varied financial experience, intellect, and spiritual awareness as the foundation to offer this successful service to you. Throughout our learning curve we observed the spot forex market, matched our skills with other forex professionals and excelled in both market timing and currency
Signals Tracker Report - T Squared Trading
Summary of Services & Background T Squared Trading specializes in producing some of the most successful mechanical trading strategies in the industry. We strongly emphasize rigid risk management and position sizing as part of our trading methodology. Our daily, weekly, and monthly market commentary gives the client a technical and fundamental view of the market with our unique view of events and market action. Whether you are a new trader, or a seasoned veteran, we are confident you will
Signals Tracker Report - AceTrader
Birth of Trendsetter Ourcommentaries on DLR/DMK first appeared on Reuters page AABB in 1984.Since then, Trendsetter has come a long way. As a global specialistdata provider, our coverage now extends to more than 20 differentinstruments with a primary focus on Foreign Exchange market, serving awide range of users from professional investors, corporations totop-tier banks in over 60 countries. Forex dealers in the world's mostleading banks now regularly use Trendsetter's trading recommendations.
Daily Market Outlook
*********************************************************** Market Review - 25/06/2007 21:50 GMT Dollar falls against Japanese yen due to weak U.S. stocks The greenback fell against the Japanese yen to 123.31 on cross unwinding in jpy on growing concerns that more hedge funds may fail due to rising U.S. subprime mortgage defaults. Investors are now focusing on a report to be released on Wednesday which may show Japanese retail sales accelerated last month, adding to speculation the Bank of
Signals Tracker Report
Detail Information and Available PDF Report for listed company AceTrader T Squared Trading Critical Mass FX Agape FX Profit Edge Peippo Consult Formula 1 Forex Note: Click on any company name to view the company's full details and download the PDF report. Note for T Squared Trading: The company has an institutional branch named KEG Systems that utilizes a portfolio of similar strategies.
AUD, NZD
In my view, the AUD/NZD breaking down through the 1.1 level looks like almost imminent. I also perceive the New Zealand Dollar's pressure over the European currencies to still be considerable. Although it may seem paradoxical, just as the AUD/NZD descends through 1.1 I'd immediately start looking out for any early signs suggesting a shift of sentiment, from outright bullish to hardly discernable, in the New Zealand Dollar via its cross pairs. I think both the Australian and the New Zealand
AUD, NZD
In my view, the AUD/NZD breaking down through the 1.1 level looks like almost imminent. I also perceive the New Zealand Dollar's pressure over the European currencies to still be considerable. Although it may seem paradoxical, just as the AUD/NZD descends through 1.1 I'd immediately start looking out for any early signs suggesting a shift of sentiment, from outright bullish to hardly discernable, in the New Zealand Dollar via its cross pairs. I think both the Australian and the New Zealand
Yen Secures Gains to Start Week
The yen rebounded from record lows against the euro, and also pushed back against the dollar, as investors across the globe eased off the carry trade on sentiments that Japan could begin raising rates in the medium-term. A Chinese bank official said that he did not rule out a coming rate hike for Japan, which sent the yen higher as traders sold positions entered with borrowed Japanese currencies. The euro has been surging over the yen lately, hitting new highs on Friday. The euro fell back
Forex Signal & News
Forex Market Commentary for June 25, 2007 by Cornelius Luca
GFT Daily Forex Market Commentary
The dollar got hurt versus the European currencies but managed to pad its gains against the yen on Friday. The weak hosing data and the fall of the US equities accelerated the slide. The S&P 500 fell the most since early March amid fears that banks will get hit by mortgage bonds losses and because of possible fewer M&As. The dollar should remain under pressure.
Euro/dollar
Euro/dollar surged on Friday and hit an 11-week high of 1.3470. It formed a bullish flag that targets 1.3550 and the medium-term outlook turned positive.
Immediate resistance is seen at 1.3480. A close above 1.3553 would signal another aggressive attack on the upside to 1.3610.
Initial support is at 1.3440. Below the 1.3373 level there is support at 1.3264 from a pivot low.
Oscillators are rising.
NEAR-TERM: Bullish
MEDIUM-TERM: Bullish
LONG-TERM: Bullish
Dollar/yen
Dollar/yen reversed managed to reach a new high for the uptrend, but gave up most of its gains by the close. It is close to peaking but may still make another marginally new high today.
Immediate resistance is still seen from a 50-point pivot at 124.00 that targets 123.50 and 124.50.
Initial support is at 123.50. Below 123.00, key support comes at 122.50 from another 50-point pivot, which targets 122.00 and 123.00.
Oscillators are rising.
NEAR-TERM: Peaking
MEDIUM-TERM: Bullish
LONG-TERM: Bullish
Sterling/dollar
Sterling/dollar surged on Friday to a seven-week high and nearly reached the 2.0000 threshold. The medium term outlook turned bullish and the pair is in good shape to move above this mark.
Above 2.0000, resistance remains between 2.0131 and 2.0151.
Immediate support is seen at 1.9940. If this level gives way on a closing basis, look for further support at 1.9910.
Oscillators are rising.
NEAR-TERM: Bullish
MEDIUM-TERM: Bullish
LONG-TERM: Bearish
Dollar/Swiss franc
Dollar/Swiss franc sank on Friday and formed a bearish reversal formation after rising for seven consecutive weeks. The medium term outlook is now bearish.
Immediate support is seen at 1.2230. Strong support follows at 1.2175.
Above the resistance at 1.2310 there is good resistance at 1.2350.
Oscillators are falling.
NEAR-TERM: Bearish
MEDIUM-TERM: Bullish
LONG-TERM: Mixed
GFT Daily Forex Market Commentary
The dollar got hurt versus the European currencies but managed to pad its gains against the yen on Friday. The weak hosing data and the fall of the US equities accelerated the slide. The S&P 500 fell the most since early March amid fears that banks will get hit by mortgage bonds losses and because of possible fewer M&As. The dollar should remain under pressure.
Euro/dollar
Euro/dollar surged on Friday and hit an 11-week high of 1.3470. It formed a bullish flag that targets 1.3550 and the medium-term outlook turned positive.
Immediate resistance is seen at 1.3480. A close above 1.3553 would signal another aggressive attack on the upside to 1.3610.
Initial support is at 1.3440. Below the 1.3373 level there is support at 1.3264 from a pivot low.
Oscillators are rising.
NEAR-TERM: Bullish
MEDIUM-TERM: Bullish
LONG-TERM: Bullish
Dollar/yen
Dollar/yen reversed managed to reach a new high for the uptrend, but gave up most of its gains by the close. It is close to peaking but may still make another marginally new high today.
Immediate resistance is still seen from a 50-point pivot at 124.00 that targets 123.50 and 124.50.
Initial support is at 123.50. Below 123.00, key support comes at 122.50 from another 50-point pivot, which targets 122.00 and 123.00.
Oscillators are rising.
NEAR-TERM: Peaking
MEDIUM-TERM: Bullish
LONG-TERM: Bullish
Sterling/dollar
Sterling/dollar surged on Friday to a seven-week high and nearly reached the 2.0000 threshold. The medium term outlook turned bullish and the pair is in good shape to move above this mark.
Above 2.0000, resistance remains between 2.0131 and 2.0151.
Immediate support is seen at 1.9940. If this level gives way on a closing basis, look for further support at 1.9910.
Oscillators are rising.
NEAR-TERM: Bullish
MEDIUM-TERM: Bullish
LONG-TERM: Bearish
Dollar/Swiss franc
Dollar/Swiss franc sank on Friday and formed a bearish reversal formation after rising for seven consecutive weeks. The medium term outlook is now bearish.
Immediate support is seen at 1.2230. Strong support follows at 1.2175.
Above the resistance at 1.2310 there is good resistance at 1.2350.
Oscillators are falling.
NEAR-TERM: Bearish
MEDIUM-TERM: Bullish
LONG-TERM: Mixed
Thursday, June 21, 2007
Forex Signal & News
Forex Market Commentary for June 21, 2007 by Cornelius Luca
GFT Daily Forex Market Commentary
The dollar reversed losses against the yen and advanced versus the euro, but fell versus the other European currencies on Wednesday in a move led by the pound. Expect further choppy trading amid cross trading, particularly in carry trades. But the bias is bullish for the dollar.
Euro/dollar
Euro/dollar formed a mini bearish reversal formation on Wednesday and the pair should head further down today.
Immediate support is in place at 1.3355. This is followed by 1.3335. The next levels are 1.3300 and 1.3264.
Strong resistance remains 1.3450. Only a break above the important level at 1.3522 would signal a retest of the 1.3553 area. A more aggressive upmove would attack 1.3610, but this is unlikely.
Oscillators are mixed.
NEAR-TERM: Bearish
MEDIUM-TERM: Bearish
LONG-TERM: Bullish
Dollar/yen
Dollar/yen reversed losses on Wednesday and is now threatening the highs of the uptrend. It should make a marginally new high today.
Immediate resistance is seen from a 50-point pivot at 124.00 that targets 123.50 and 124.50.
Initial support is at 123.25. Below 123.00, key support comes at 122.50 from another 50-point pivot, which targets 122.00 and 123.00.
Oscillators are rising.
NEAR-TERM: Slightly bullish
MEDIUM-TERM: Bullish
LONG-TERM: Bullish
Sterling/dollar
Sterling/dollar rallied on Wednesday after minutes from the Bank of England policy meeting were thought to point to a UK rate rise as early as July. It should now correct lower before any further gains may be entertained.
Initial support is at 1.9875. If 1.9800 gives way, look for a test of the 1.9770. Distant supports come at 1.9700 and 1.9660.
Immediate resistance is at 1.9950. If it breaks, then look for a further rebound to 2.0035.
Oscillators are rising.
NEAR-TERM: Mixed with downside bias
MEDIUM-TERM: Bearish
LONG-TERM: Bearish
Dollar/Swiss franc
Dollar/Swiss franc fell to a nine-day low on Wednesday before trimming losses. Expect higher trading before any further weakness can be seen.
Initial resistance is at 1.2410. Above the resistance at 1.2471 there still is good resistance is at 1.2572.
Immediate support is seen at 1.2350. Below 1.2270, the next level is 1.2230.
Oscillators are slipping.
NEAR-TERM: Mixed with upside bias
MEDIUM-TERM: Bullish
LONG-TERM: Mixed
GFT Daily Forex Market Commentary
The dollar reversed losses against the yen and advanced versus the euro, but fell versus the other European currencies on Wednesday in a move led by the pound. Expect further choppy trading amid cross trading, particularly in carry trades. But the bias is bullish for the dollar.
Euro/dollar
Euro/dollar formed a mini bearish reversal formation on Wednesday and the pair should head further down today.
Immediate support is in place at 1.3355. This is followed by 1.3335. The next levels are 1.3300 and 1.3264.
Strong resistance remains 1.3450. Only a break above the important level at 1.3522 would signal a retest of the 1.3553 area. A more aggressive upmove would attack 1.3610, but this is unlikely.
Oscillators are mixed.
NEAR-TERM: Bearish
MEDIUM-TERM: Bearish
LONG-TERM: Bullish
Dollar/yen
Dollar/yen reversed losses on Wednesday and is now threatening the highs of the uptrend. It should make a marginally new high today.
Immediate resistance is seen from a 50-point pivot at 124.00 that targets 123.50 and 124.50.
Initial support is at 123.25. Below 123.00, key support comes at 122.50 from another 50-point pivot, which targets 122.00 and 123.00.
Oscillators are rising.
NEAR-TERM: Slightly bullish
MEDIUM-TERM: Bullish
LONG-TERM: Bullish
Sterling/dollar
Sterling/dollar rallied on Wednesday after minutes from the Bank of England policy meeting were thought to point to a UK rate rise as early as July. It should now correct lower before any further gains may be entertained.
Initial support is at 1.9875. If 1.9800 gives way, look for a test of the 1.9770. Distant supports come at 1.9700 and 1.9660.
Immediate resistance is at 1.9950. If it breaks, then look for a further rebound to 2.0035.
Oscillators are rising.
NEAR-TERM: Mixed with downside bias
MEDIUM-TERM: Bearish
LONG-TERM: Bearish
Dollar/Swiss franc
Dollar/Swiss franc fell to a nine-day low on Wednesday before trimming losses. Expect higher trading before any further weakness can be seen.
Initial resistance is at 1.2410. Above the resistance at 1.2471 there still is good resistance is at 1.2572.
Immediate support is seen at 1.2350. Below 1.2270, the next level is 1.2230.
Oscillators are slipping.
NEAR-TERM: Mixed with upside bias
MEDIUM-TERM: Bullish
LONG-TERM: Mixed
Wednesday, June 20, 2007
Forex Signal & News
Forex Market Commentary for June 19, 2007 by Cornelius Luca
GFT Daily Forex Market Commentary
The dollar extended its gains against the yen but fell versus the European currencies on Monday as well amid cross trading. Expect further choppy cross trading, particularly in carry trades.
Euro/dollar
Euro/dollar climbed further on Monday to erase losses from last week. The pair should attempt to pad its gains today as well.
Strong level remains 1.3450. Only a break above the important level at 1.3522 would signal a retest of the 1.3553 area. A more aggressive upmove would attack 1.3610, but this is unlikely.
Immediate support is in place at 1.3380. This is followed by 1.3335. The next levels are 1.3300 and 1.3264.
Oscillators are mixed.
NEAR-TERM: Bullish
MEDIUM-TERM: Bearish
LONG-TERM: Bullish
Dollar/yen
Dollar/yen climbed further on Monday to reach a new high for the uptrend. Look for some pullback before some more strength will be seen.
Immediate resistance is seen at 123.90. Nearby there is a 50-point pivot at 124.00 that targets 123.50 and 124.50.
Initial support is at 123.00. Key support now comes at 122.50 from another 50-point pivot, which targets 122.00 and 123.00.
Oscillators are rising.
NEAR-TERM: Slightly bullish
MEDIUM-TERM: Bullish
LONG-TERM: Bullish
Sterling/dollar
Sterling/dollar rallied to an 11-day high on Monday and formed a short-term double bottom that targets the 1.9950 area. Look now for more mild gains.
Immediate resistance is at 1.9880. If it breaks, then look for a further rebound to 1.9925 and 1.9950. Next level is 2.0035.
Initial support is at 1.9800. If this level gives way, look for a test of the 1.9770. further support at 1.9700 and 1.9660.
Oscillators are rising.
NEAR-TERM: Mixed with upside bias
MEDIUM-TERM: Bearish
LONG-TERM: Bearish
Dollar/Swiss franc
Dollar/Swiss franc recouped early losses to close little changed on Monday. Expect sideways to higher trading on the back of carry trades.
Initial resistance is at 1.2450. Above the resistance at 1.2471 there is good resistance is at 1.2572.
Immediate support is still seen at 1.2390. Strong support follows at 1.2350. Below 1.2270, the next level is 1.2230.
Oscillators are rising.
NEAR-TERM: Mixed
MEDIUM-TERM: Bullish
LONG-TERM: Mixed
GFT Daily Forex Market Commentary
The dollar extended its gains against the yen but fell versus the European currencies on Monday as well amid cross trading. Expect further choppy cross trading, particularly in carry trades.
Euro/dollar
Euro/dollar climbed further on Monday to erase losses from last week. The pair should attempt to pad its gains today as well.
Strong level remains 1.3450. Only a break above the important level at 1.3522 would signal a retest of the 1.3553 area. A more aggressive upmove would attack 1.3610, but this is unlikely.
Immediate support is in place at 1.3380. This is followed by 1.3335. The next levels are 1.3300 and 1.3264.
Oscillators are mixed.
NEAR-TERM: Bullish
MEDIUM-TERM: Bearish
LONG-TERM: Bullish
Dollar/yen
Dollar/yen climbed further on Monday to reach a new high for the uptrend. Look for some pullback before some more strength will be seen.
Immediate resistance is seen at 123.90. Nearby there is a 50-point pivot at 124.00 that targets 123.50 and 124.50.
Initial support is at 123.00. Key support now comes at 122.50 from another 50-point pivot, which targets 122.00 and 123.00.
Oscillators are rising.
NEAR-TERM: Slightly bullish
MEDIUM-TERM: Bullish
LONG-TERM: Bullish
Sterling/dollar
Sterling/dollar rallied to an 11-day high on Monday and formed a short-term double bottom that targets the 1.9950 area. Look now for more mild gains.
Immediate resistance is at 1.9880. If it breaks, then look for a further rebound to 1.9925 and 1.9950. Next level is 2.0035.
Initial support is at 1.9800. If this level gives way, look for a test of the 1.9770. further support at 1.9700 and 1.9660.
Oscillators are rising.
NEAR-TERM: Mixed with upside bias
MEDIUM-TERM: Bearish
LONG-TERM: Bearish
Dollar/Swiss franc
Dollar/Swiss franc recouped early losses to close little changed on Monday. Expect sideways to higher trading on the back of carry trades.
Initial resistance is at 1.2450. Above the resistance at 1.2471 there is good resistance is at 1.2572.
Immediate support is still seen at 1.2390. Strong support follows at 1.2350. Below 1.2270, the next level is 1.2230.
Oscillators are rising.
NEAR-TERM: Mixed
MEDIUM-TERM: Bullish
LONG-TERM: Mixed
Monday, June 18, 2007
Forex Signal & News
Forex Market Commentary for June 18, 2007 by Cornelius Luca
GFT Daily Forex Market Commentary
The dollar extended its gains against the yen but fell versus the European currencies on Friday amid weak US data. Expect choppy cross trading, particularly in carry trades.
Euro/dollar
Euro/dollar rallied on Friday to erase all of the losses that took it to a 2 ½-month low earlier last week. The pair should attempt to pad its gains.
Initial resistance is at 1.3410. Above it, the next strong level remains 1.3450. Only a break above the important level at 1.3522 would signal a retest of the 1.3553 area. A more aggressive upmove would attack 1.3610, but this is unlikely.
Immediate support is in place at 1.3335. The next levels are 1.3300 and 1.3264. Below this level there is support at 1.3175 from a Fibonacci retracement level.
Oscillators are mixed.
NEAR-TERM: Bullish
MEDIUM-TERM: Bearish
LONG-TERM: Bullish
Dollar/yen
Dollar/yen rallied further on Friday to reach a new high for the uptrend. Look for some pullback before some more strength will be seen.
Immediate resistance is at 123.90. Nearby there is a 50-point pivot at 124.00 that targets 123.50 and 124.50.
Initial support is at 123.00. Key support now comes at 122.50 from another 50-point pivot, which targets 122.00 and 123.00.
Oscillators are rising.
NEAR-TERM: Slightly bullish
MEDIUM-TERM: Bullish
LONG-TERM: Bullish
Sterling/dollar
Sterling/dollar rallied on Friday but remained confined to previous Friday’s range. The medium term outlook is slightly bearish, but only a close below 1.9650 would confirm this view.
If this level gives way on a closing basis, look for further support at 1.9623. A close below this level would signal a further slide to 1.9545. Distant support follows at 1.9420.
Immediate resistance is at 1.9790. If it breaks, then look for a further rebound to 1.9870. Next level is 1.9925
Oscillators are mixed.
NEAR-TERM: Mixed
MEDIUM-TERM: Bearish
LONG-TERM: Bearish
Dollar/Swiss franc
Dollar/Swiss franc fell on Friday to eras the gains made in the previous two days. The medium term outlook is slightly bullish, but the pair is overbought in the short term, so look for an initial decline.
Immediate support is seen at 1.2390. Strong support follows at 1.2350. Below 1.2270, the next level is 1.2230.
Above the resistance at 1.2471 there is good resistance is at 1.2572.
Oscillators are rising.
NEAR-TERM: Mixed
MEDIUM-TERM: Bullish
LONG-TERM: Mixed
posted at Monday, 18 June 2007 09:56:44
GFT Daily Forex Market Commentary
Forex Market Commentary for June 18, 2007 by Cornelius Luca
GFT Daily Forex Market Commentary
The dollar extended its gains against the yen but fell versus the European currencies on Friday amid weak US data. Expect choppy cross trading, particularly in carry trades.
Euro/dollar
Euro/dollar rallied on Friday to erase all of the losses that took it to a 2 ½-month low earlier last week. The pair should attempt to pad its gains.
Initial resistance is at 1.3410. Above it, the next strong level remains 1.3450. Only a break above the important level at 1.3522 would signal a retest of the 1.3553 area. A more aggressive upmove would attack 1.3610, but this is unlikely.
Immediate support is in place at 1.3335. The next levels are 1.3300 and 1.3264. Below this level there is support at 1.3175 from a Fibonacci retracement level.
Oscillators are mixed.
NEAR-TERM: Bullish
MEDIUM-TERM: Bearish
LONG-TERM: Bullish
Dollar/yen
Dollar/yen rallied further on Friday to reach a new high for the uptrend. Look for some pullback before some more strength will be seen.
Immediate resistance is at 123.90. Nearby there is a 50-point pivot at 124.00 that targets 123.50 and 124.50.
Initial support is at 123.00. Key support now comes at 122.50 from another 50-point pivot, which targets 122.00 and 123.00.
Oscillators are rising.
NEAR-TERM: Slightly bullish
MEDIUM-TERM: Bullish
LONG-TERM: Bullish
Sterling/dollar
Sterling/dollar rallied on Friday but remained confined to previous Friday’s range. The medium term outlook is slightly bearish, but only a close below 1.9650 would confirm this view.
If this level gives way on a closing basis, look for further support at 1.9623. A close below this level would signal a further slide to 1.9545. Distant support follows at 1.9420.
Immediate resistance is at 1.9790. If it breaks, then look for a further rebound to 1.9870. Next level is 1.9925
Oscillators are mixed.
NEAR-TERM: Mixed
MEDIUM-TERM: Bearish
LONG-TERM: Bearish
Dollar/Swiss franc
Dollar/Swiss franc fell on Friday to eras the gains made in the previous two days. The medium term outlook is slightly bullish, but the pair is overbought in the short term, so look for an initial decline.
Immediate support is seen at 1.2390. Strong support follows at 1.2350. Below 1.2270, the next level is 1.2230.
Above the resistance at 1.2471 there is good resistance is at 1.2572.
Oscillators are rising.
NEAR-TERM: Mixed
MEDIUM-TERM: Bullish
LONG-TERM: Mixed
GFT Daily Forex Market Commentary
The dollar extended its gains against the yen but fell versus the European currencies on Friday amid weak US data. Expect choppy cross trading, particularly in carry trades.
Euro/dollar
Euro/dollar rallied on Friday to erase all of the losses that took it to a 2 ½-month low earlier last week. The pair should attempt to pad its gains.
Initial resistance is at 1.3410. Above it, the next strong level remains 1.3450. Only a break above the important level at 1.3522 would signal a retest of the 1.3553 area. A more aggressive upmove would attack 1.3610, but this is unlikely.
Immediate support is in place at 1.3335. The next levels are 1.3300 and 1.3264. Below this level there is support at 1.3175 from a Fibonacci retracement level.
Oscillators are mixed.
NEAR-TERM: Bullish
MEDIUM-TERM: Bearish
LONG-TERM: Bullish
Dollar/yen
Dollar/yen rallied further on Friday to reach a new high for the uptrend. Look for some pullback before some more strength will be seen.
Immediate resistance is at 123.90. Nearby there is a 50-point pivot at 124.00 that targets 123.50 and 124.50.
Initial support is at 123.00. Key support now comes at 122.50 from another 50-point pivot, which targets 122.00 and 123.00.
Oscillators are rising.
NEAR-TERM: Slightly bullish
MEDIUM-TERM: Bullish
LONG-TERM: Bullish
Sterling/dollar
Sterling/dollar rallied on Friday but remained confined to previous Friday’s range. The medium term outlook is slightly bearish, but only a close below 1.9650 would confirm this view.
If this level gives way on a closing basis, look for further support at 1.9623. A close below this level would signal a further slide to 1.9545. Distant support follows at 1.9420.
Immediate resistance is at 1.9790. If it breaks, then look for a further rebound to 1.9870. Next level is 1.9925
Oscillators are mixed.
NEAR-TERM: Mixed
MEDIUM-TERM: Bearish
LONG-TERM: Bearish
Dollar/Swiss franc
Dollar/Swiss franc fell on Friday to eras the gains made in the previous two days. The medium term outlook is slightly bullish, but the pair is overbought in the short term, so look for an initial decline.
Immediate support is seen at 1.2390. Strong support follows at 1.2350. Below 1.2270, the next level is 1.2230.
Above the resistance at 1.2471 there is good resistance is at 1.2572.
Oscillators are rising.
NEAR-TERM: Mixed
MEDIUM-TERM: Bullish
LONG-TERM: Mixed
posted at Monday, 18 June 2007 09:56:44
GFT Daily Forex Market Commentary
Forex Market Commentary for June 18, 2007 by Cornelius Luca
GFT Daily Forex Market Commentary
The dollar extended its gains against the yen but fell versus the European currencies on Friday amid weak US data. Expect choppy cross trading, particularly in carry trades.
Euro/dollar
Euro/dollar rallied on Friday to erase all of the losses that took it to a 2 ½-month low earlier last week. The pair should attempt to pad its gains.
Initial resistance is at 1.3410. Above it, the next strong level remains 1.3450. Only a break above the important level at 1.3522 would signal a retest of the 1.3553 area. A more aggressive upmove would attack 1.3610, but this is unlikely.
Immediate support is in place at 1.3335. The next levels are 1.3300 and 1.3264. Below this level there is support at 1.3175 from a Fibonacci retracement level.
Oscillators are mixed.
NEAR-TERM: Bullish
MEDIUM-TERM: Bearish
LONG-TERM: Bullish
Dollar/yen
Dollar/yen rallied further on Friday to reach a new high for the uptrend. Look for some pullback before some more strength will be seen.
Immediate resistance is at 123.90. Nearby there is a 50-point pivot at 124.00 that targets 123.50 and 124.50.
Initial support is at 123.00. Key support now comes at 122.50 from another 50-point pivot, which targets 122.00 and 123.00.
Oscillators are rising.
NEAR-TERM: Slightly bullish
MEDIUM-TERM: Bullish
LONG-TERM: Bullish
Sterling/dollar
Sterling/dollar rallied on Friday but remained confined to previous Friday’s range. The medium term outlook is slightly bearish, but only a close below 1.9650 would confirm this view.
If this level gives way on a closing basis, look for further support at 1.9623. A close below this level would signal a further slide to 1.9545. Distant support follows at 1.9420.
Immediate resistance is at 1.9790. If it breaks, then look for a further rebound to 1.9870. Next level is 1.9925
Oscillators are mixed.
NEAR-TERM: Mixed
MEDIUM-TERM: Bearish
LONG-TERM: Bearish
Dollar/Swiss franc
Dollar/Swiss franc fell on Friday to eras the gains made in the previous two days. The medium term outlook is slightly bullish, but the pair is overbought in the short term, so look for an initial decline.
Immediate support is seen at 1.2390. Strong support follows at 1.2350. Below 1.2270, the next level is 1.2230.
Above the resistance at 1.2471 there is good resistance is at 1.2572.
Oscillators are rising.
NEAR-TERM: Mixed
MEDIUM-TERM: Bullish
LONG-TERM: Mixed
Sunday, June 17, 2007
Forex Signal & News
2007-Jun-17 - EUR: A small revers head-and-shoulders bottom
EUR: A small revers head-and-shoulders bottom formed before the 1.3255 support and this could mark the start of a correction higher. The first upside barrier remains 1.3333 and clearing it call for a rally to 1.3372. It is a tested resistance level plus the 38.2% Fibonacci level of the last down leg. This combination makes it a formidable barrier that might prove impossible to breach. On the downside, support starts at the last ‘shoulder’ at 1.3289 and extends to 1.3266 and the crucial 1.3255.
2007-Jun-17 - Daily Forex Technical Report - UK Retail Sales and US PPI in Focus after Expected SNB Hike
Forex Daily Technical Report UK Retail Sales and US PPI in Focus after Expected SNB Hike SNB raise the target range for the three-month Libor by 25bps 2.00-3.00%, with mid-point at 2.50% as widely expected. With this move, SNB is ensuring that inflation prospects remain favorable. Swiss Franc is mildly lower after this expected rate hike. UK economic data this week were not Sterling supportive so far as they suggest that BoE is in not urgency to hike soon. RICS house price index released
2007-Jun-17 - EUR/USD Daily Technical Forex
Current level at 10:00 CET is 1.3302, trading just above the daily pivot point of 1.3294, having traded as low as 1.3262 yesterday, close to the 38.2 Fibo retracement level of 1.3225. Daily RSI and stochastics are approaching oversold levels and suggest a rebound to the upside may be in the course of formation. Support levels today are 1.3273 and 1.3238. Resistance is to be expected at 1.3330, 1.3350 and the daily Ichimoku cloud base at 1.3379.
2007-Jun-17 - USD/JPY Daily Technical Forex
Current level at 10:23 CET is 122.88, trading above the daily pivot point level of 122.30. Resistance levels for today are set at 123.14 and 123.60 and the 23.6 percent Fibo projection target of 123.85. The 122.19 level should constitute a firm base for any downside movement today, however a break would bring 121.84 and then 121.00 into focus. Topping out hourly momentum readings suggest downside correction possible during the course of todays trading.
2007-Jun-17 - EUR/JPY Daily Technical Forex
Current level at 10:35 CET is 163.56, trading above the daily pivot point level of 162.70 with resistance levels at 164.00 and the previous high of 164.63. Hourly momentum readings are in positive territory, although overbought signals are gradually coming through. Support levels are set at 162.01 and then 160.73.
2007-Jun-17 - Forex Technical Report GBP/USD
GBP/USD 1.9724 - 14 June 2007 GBP/USD Open 1.9735 High 1.9761 Low 1.9677 Close 1.9728 Yesterday's trading was quiet and the Pound was trading in the range 1.9679 - 1.9743 US Dollars. This morning the currency pair was exchanging at levels 1.9736 - 1.9714. If today the Cable get through the resistance zone at 1.9744 US Dollars, next target will be reaching and testing the 1.9786 level. If successful the upwards movement will continue towards 1.9825. If the Pound breaks under the support zone
2007-Jun-17 - Forex Technical Report USD/CHF
USD/CHF 1.2435 - 14 June 2007 USD/CHF Open 1.2435 High 1.2485 Low 1.2416 Close 1.2438 Trading yesterday was quiet and the US Dollar was in the range 1.2419 - 1.2446Swiss Francs. This morning the currency pair was exchanging at levels 1.2432 - 1.2461. If today the US Dollar gets through the resistance zone at 1.2460 Swiss Frank, next target will be reaching and testing the 1.2511 level. If successful the upwards movement will continue towards 1.2548. If the currency pair breaks under the
2007-Jun-17 - Over-Bought USDJPY looking to break into 123.00 level
USDJPY: (122.94) USDJPY seems to be heading towards 123.50 level and generally traders will look to buy USDJPY on dips to its retracement levels. Currently a good buying level can be seen around 122.16 and we might see USDJPY taking a dip towards that level before making another attempt towards 123.50 level. RSI is currently on the higher side and it will certainly pushing USDJPY downwards, so we might see traders not targeting too much high level levels for USDJPY. TRADE: Buy USDJPY @ 122.16
2007-Jun-17 - FX Thoughts for the day - Evening - 14-June-2007....1154 GMT
EURO, JAP YEN and EURO-YEN --------------------------- Read our current comments and trade recommendations on EUR-USD, USD-JPY and EUR-JPY by registering at http://www.kshitij.com/fxthoughts/fxthoughts.shtml#register Our comments on Dollar-Swiss, Sterling Pound and Australian Dollar are given below --------------------- USD-CHF @ 1.2436/41….……Stable currently ----------------------------------------- R: 1.2470 / 1.2494 S: 1.2430 / 1.2400 USD-CHF has been stable during the day, even as the SNB
2007-Jun-17 - Support, Resistance & Range Forecast
-------------------------------------------- www.AceTrader.com USD/JPY Update Time: 14 Jun 2007 12:42 GMT Range Forecast 122.95 / 123.20 Resistance/Support R: 123.26/123.43/123.80 S: 122.77/122.55/122.20 -------------------------------------------- EUR/USD Update Time: 14 Jun 2007 12:51 GMT Range Forecast 1.3280 / 1.3310 Resistance/Support R: 1.3317/1.3333/1.3375 S: 1.3264/1.3214/1.3177 >SIGN UP for 1-week TRIAL< -------------------------------------------- USD/CHF
2007-Jun-17 - Mid-Day Forex Technical Report - Dollar Still in Range Against Euro after Strong PPI Inflation
Forex Mid-Day Technical Report Dollar Still in Range Against Euro after Strong PPI Inflation Dollar remains in tight range against Euro even though PPI came in much higher than expected. This is the second day in a row which dollar has little reaction to positive data. And it looked that the greenback is losing momentum after being overbought in the short term. Elsewhere, Sterling remains pressured even though a slightly better than consensus retails sales report. Swiss is still kept in tight
2007-Jun-17 - Intra-day forex market trend
This session trend: other majors are expected to make swings and slide BIG in coming days as trending move .... firming up moves are sell opportunities......
2007-Jun-17 - Forex Day Trading
Today’s Trend – Mixed. Everywhere & nowhere Current Outlook – Today we do not have a trend in place as we have traded both up and down. The near term trend for the last couple of hours has been to the downside and we began today's trading by selling from the 5 minute overbought levels down and taking profits into the 242.04 area of support. We are holding our remaing positons as we have already locked in profits waiting to see if we get a break of support and moving our
2007-Jun-17 - Support, Resistance & Range Forecast
-------------------------------------------- www.AceTrader.com USD/JPY Update Time: 15 Jun 2007 01:01 GMT Range Forecast 122.90 / 123.13+ Resistance/Support R: 123.13/123.34/123.57 S: 122.77/122.55/122.20 -------------------------------------------- EUR/USD Update Time: 15 Jun 2007 00:14 GMT Range Forecast 1.3300 / 1.3325 Resistance/Support R: 1.3333/1.3375/1.3400 S: 1.3264/1.3214/1.3177 >SIGN UP for 1-week TRIAL< -------------------------------------------- USD/CHF
2007-Jun-17 - Fxtechtrade
Several words about the EUR/USD future. Resistance (daily close) : : 1.2988, 1.3077, 1.3146, 1.3360, 1.3579, 1.3680 , 1.3758 and 1.3950. Break by daily close of 1.3950 mark will establish the minimum target as 1.4400. Next target - 1.4577. Support (daily close) : 1.3411, 1.3263 , 1.3106 and 1.2964 (added on May 18, 2007 ). Then 1.2803, 1.2730, 1.2600, 1.2532 and 1.2390. Daily close under 1.2390 will lead the market to 1.2307, 1.2218, 1.2150, 1.1896, 1.1740, 1.1678 и 1.1520 (published on
2007-Jun-17 - Currency Majors Technical Analysis
EURUSD Short term (Intraday) 1,3321. 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. 1H, 4H ForexSto (Modified Stochastic) indicate a bullish pressure on EUR USD. The price should continue to consolidate. The price should continue to move in 1,3670 / 1,3330 range. We won't take a position. The risk/reward ratio is too high to take a position.. Resistances
2007-Jun-17 - Forex Technical Report EUR/USD
EUR/USD 1.3324 - 15 June 2007 EUR/USD Open 1.3310 High 1.3330 Low 1.3248 Close 1.3293 Trading yesterday was quiet and the Euro was trading in the range 1.3316 - 1.3278 US Dollars. This morning the currency pair was exchanging at levels 1.3308 - 1.3329. If today the Euro get through the resistance zone at 1.3328 US Dollars, next target will be reaching and testing the 1.3372 level. If successful the upwards movement will continue towards 1.3410. If the Euro breaks under the support zone 1.3303
EUR: A small revers head-and-shoulders bottom formed before the 1.3255 support and this could mark the start of a correction higher. The first upside barrier remains 1.3333 and clearing it call for a rally to 1.3372. It is a tested resistance level plus the 38.2% Fibonacci level of the last down leg. This combination makes it a formidable barrier that might prove impossible to breach. On the downside, support starts at the last ‘shoulder’ at 1.3289 and extends to 1.3266 and the crucial 1.3255.
2007-Jun-17 - Daily Forex Technical Report - UK Retail Sales and US PPI in Focus after Expected SNB Hike
Forex Daily Technical Report UK Retail Sales and US PPI in Focus after Expected SNB Hike SNB raise the target range for the three-month Libor by 25bps 2.00-3.00%, with mid-point at 2.50% as widely expected. With this move, SNB is ensuring that inflation prospects remain favorable. Swiss Franc is mildly lower after this expected rate hike. UK economic data this week were not Sterling supportive so far as they suggest that BoE is in not urgency to hike soon. RICS house price index released
2007-Jun-17 - EUR/USD Daily Technical Forex
Current level at 10:00 CET is 1.3302, trading just above the daily pivot point of 1.3294, having traded as low as 1.3262 yesterday, close to the 38.2 Fibo retracement level of 1.3225. Daily RSI and stochastics are approaching oversold levels and suggest a rebound to the upside may be in the course of formation. Support levels today are 1.3273 and 1.3238. Resistance is to be expected at 1.3330, 1.3350 and the daily Ichimoku cloud base at 1.3379.
2007-Jun-17 - USD/JPY Daily Technical Forex
Current level at 10:23 CET is 122.88, trading above the daily pivot point level of 122.30. Resistance levels for today are set at 123.14 and 123.60 and the 23.6 percent Fibo projection target of 123.85. The 122.19 level should constitute a firm base for any downside movement today, however a break would bring 121.84 and then 121.00 into focus. Topping out hourly momentum readings suggest downside correction possible during the course of todays trading.
2007-Jun-17 - EUR/JPY Daily Technical Forex
Current level at 10:35 CET is 163.56, trading above the daily pivot point level of 162.70 with resistance levels at 164.00 and the previous high of 164.63. Hourly momentum readings are in positive territory, although overbought signals are gradually coming through. Support levels are set at 162.01 and then 160.73.
2007-Jun-17 - Forex Technical Report GBP/USD
GBP/USD 1.9724 - 14 June 2007 GBP/USD Open 1.9735 High 1.9761 Low 1.9677 Close 1.9728 Yesterday's trading was quiet and the Pound was trading in the range 1.9679 - 1.9743 US Dollars. This morning the currency pair was exchanging at levels 1.9736 - 1.9714. If today the Cable get through the resistance zone at 1.9744 US Dollars, next target will be reaching and testing the 1.9786 level. If successful the upwards movement will continue towards 1.9825. If the Pound breaks under the support zone
2007-Jun-17 - Forex Technical Report USD/CHF
USD/CHF 1.2435 - 14 June 2007 USD/CHF Open 1.2435 High 1.2485 Low 1.2416 Close 1.2438 Trading yesterday was quiet and the US Dollar was in the range 1.2419 - 1.2446Swiss Francs. This morning the currency pair was exchanging at levels 1.2432 - 1.2461. If today the US Dollar gets through the resistance zone at 1.2460 Swiss Frank, next target will be reaching and testing the 1.2511 level. If successful the upwards movement will continue towards 1.2548. If the currency pair breaks under the
2007-Jun-17 - Over-Bought USDJPY looking to break into 123.00 level
USDJPY: (122.94) USDJPY seems to be heading towards 123.50 level and generally traders will look to buy USDJPY on dips to its retracement levels. Currently a good buying level can be seen around 122.16 and we might see USDJPY taking a dip towards that level before making another attempt towards 123.50 level. RSI is currently on the higher side and it will certainly pushing USDJPY downwards, so we might see traders not targeting too much high level levels for USDJPY. TRADE: Buy USDJPY @ 122.16
2007-Jun-17 - FX Thoughts for the day - Evening - 14-June-2007....1154 GMT
EURO, JAP YEN and EURO-YEN --------------------------- Read our current comments and trade recommendations on EUR-USD, USD-JPY and EUR-JPY by registering at http://www.kshitij.com/fxthoughts/fxthoughts.shtml#register Our comments on Dollar-Swiss, Sterling Pound and Australian Dollar are given below --------------------- USD-CHF @ 1.2436/41….……Stable currently ----------------------------------------- R: 1.2470 / 1.2494 S: 1.2430 / 1.2400 USD-CHF has been stable during the day, even as the SNB
2007-Jun-17 - Support, Resistance & Range Forecast
-------------------------------------------- www.AceTrader.com USD/JPY Update Time: 14 Jun 2007 12:42 GMT Range Forecast 122.95 / 123.20 Resistance/Support R: 123.26/123.43/123.80 S: 122.77/122.55/122.20 -------------------------------------------- EUR/USD Update Time: 14 Jun 2007 12:51 GMT Range Forecast 1.3280 / 1.3310 Resistance/Support R: 1.3317/1.3333/1.3375 S: 1.3264/1.3214/1.3177 >SIGN UP for 1-week TRIAL< -------------------------------------------- USD/CHF
2007-Jun-17 - Mid-Day Forex Technical Report - Dollar Still in Range Against Euro after Strong PPI Inflation
Forex Mid-Day Technical Report Dollar Still in Range Against Euro after Strong PPI Inflation Dollar remains in tight range against Euro even though PPI came in much higher than expected. This is the second day in a row which dollar has little reaction to positive data. And it looked that the greenback is losing momentum after being overbought in the short term. Elsewhere, Sterling remains pressured even though a slightly better than consensus retails sales report. Swiss is still kept in tight
2007-Jun-17 - Intra-day forex market trend
This session trend: other majors are expected to make swings and slide BIG in coming days as trending move .... firming up moves are sell opportunities......
2007-Jun-17 - Forex Day Trading
Today’s Trend – Mixed. Everywhere & nowhere Current Outlook – Today we do not have a trend in place as we have traded both up and down. The near term trend for the last couple of hours has been to the downside and we began today's trading by selling from the 5 minute overbought levels down and taking profits into the 242.04 area of support. We are holding our remaing positons as we have already locked in profits waiting to see if we get a break of support and moving our
2007-Jun-17 - Support, Resistance & Range Forecast
-------------------------------------------- www.AceTrader.com USD/JPY Update Time: 15 Jun 2007 01:01 GMT Range Forecast 122.90 / 123.13+ Resistance/Support R: 123.13/123.34/123.57 S: 122.77/122.55/122.20 -------------------------------------------- EUR/USD Update Time: 15 Jun 2007 00:14 GMT Range Forecast 1.3300 / 1.3325 Resistance/Support R: 1.3333/1.3375/1.3400 S: 1.3264/1.3214/1.3177 >SIGN UP for 1-week TRIAL< -------------------------------------------- USD/CHF
2007-Jun-17 - Fxtechtrade
Several words about the EUR/USD future. Resistance (daily close) : : 1.2988, 1.3077, 1.3146, 1.3360, 1.3579, 1.3680 , 1.3758 and 1.3950. Break by daily close of 1.3950 mark will establish the minimum target as 1.4400. Next target - 1.4577. Support (daily close) : 1.3411, 1.3263 , 1.3106 and 1.2964 (added on May 18, 2007 ). Then 1.2803, 1.2730, 1.2600, 1.2532 and 1.2390. Daily close under 1.2390 will lead the market to 1.2307, 1.2218, 1.2150, 1.1896, 1.1740, 1.1678 и 1.1520 (published on
2007-Jun-17 - Currency Majors Technical Analysis
EURUSD Short term (Intraday) 1,3321. 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. 1H, 4H ForexSto (Modified Stochastic) indicate a bullish pressure on EUR USD. The price should continue to consolidate. The price should continue to move in 1,3670 / 1,3330 range. We won't take a position. The risk/reward ratio is too high to take a position.. Resistances
2007-Jun-17 - Forex Technical Report EUR/USD
EUR/USD 1.3324 - 15 June 2007 EUR/USD Open 1.3310 High 1.3330 Low 1.3248 Close 1.3293 Trading yesterday was quiet and the Euro was trading in the range 1.3316 - 1.3278 US Dollars. This morning the currency pair was exchanging at levels 1.3308 - 1.3329. If today the Euro get through the resistance zone at 1.3328 US Dollars, next target will be reaching and testing the 1.3372 level. If successful the upwards movement will continue towards 1.3410. If the Euro breaks under the support zone 1.3303
Tuesday, June 5, 2007
What is FOREX?
FOREX (FOReign EXchange market) is an international foreign exchange market, where money is sold and bought freely. In its present condition FOREX was launched in the 1970s, when free exchange rates were introduced, and only the participants of the market determine the price of one currency against the other proceeding from supply and demand.
As far as the freedom from any external control and free competition are concerned, FOREX is a perfect market. It is also the biggest liquid financial market. According to various assessments, money masses in the market constitute from 1 to 1.5 trillion US dollars a day. (It is impossible to determine an absolutely exact number because trading is not centralized on an exchange.) Transactions are conducted all over the world via telecommunications 24 hours a day from 00:00 GMT on Monday to 10:00 pm GMT on Friday. Practically in every time zone (that is, in Frankfurt-on-Main, London, New York, Tokyo, Hong Kong, etc.) there are dealers who will quote currencies.
FOREX is a more objective market, because if some of its participants would like to change prices, for some manipulative purpose, they would have to operate with tens of billions dollars. That is why any influence by a single participants in the market is practically out of the question. The superior liquidity allows the traders to open and/or close positions within a few seconds. The time of keeping a position is arbitrary and has no limits: from several seconds to many years. It depends only on your trading strategies. Although the daily fluctuations of currencies are rather insignificant, you may use the credit lines, that are accessible even to currency speculators with small capitals ($ 1,000 - 5,000), where the profit may be impressive. (You can learn more about it in the section: The main principles of trading.)
The idea of marginal trading stems from the fact that in FOREX speculative interests can be satisfied without a real money supply. This decreases overhead expenses for transferring money and gives an opportunity to open positions with a small account in US dollars, buying and selling a lot of other currencies. That is, on can conduct transactions very quickly, getting a big profit, when the exchange rates go up or down. Many speculative transactions in the international financial markets are made on the principles of marginal trading.
Margin trading is trading with a borrowed capital. Marginal trading in an exchange market uses lots. 1 lot equals approximately $100,000, but to open it it is necessary to have only from 0.5% to 4% of the sum.
For example, you have analyzed the situation in the market and come to the conclusion that the pound will go up against the dollar. You open 1 lot for buying the pound (GBP) with the margin 1% (1:1000 leverage) at the price of 1.49889 and wait for the exchange rate to go up. Some time later your expectations become true. You close the position at 1.5050 and earn 61 pips (about $ 405). For the calculation of 1 pip click here.
Everyday fluctuations of currencies constitute about 100 to 150 pips, giving FX traders an opportunity to make money on these changes.
In FOREX, it's not obligatory to buy some currency first in order to sell it later. It's possible to open positions for buying and selling any currency without actually having it. Usually Internet-brokers establish the minimum deposit such as $ 2000, for working in the FOREX market, and grant a leverage of 1:100. That is, opening the position at $100,000, a trader invests $1,000 and receives $99.000 as a credit. The major currencies traded in FOREX, are Euro (EUR), Japanese yen (JPY), British Pound (GBP), and Swiss Franc (CHF). All of them are traded against the US dollar (USD).
In order to assess the situation in the market a trader has to be able to use fundamental and/or technical analysis, as well as to make decisions in the constantly changing current of information about political and economic character. Most small and medium players in financial markets use technical analysis. Technical analysis presupposes that all the information about the market and its further fluctuations is contained in the price chain. Any factor, that has some influence on the price, be it economic, political or psychological, has already been considered by the market and included in the price. The initial data for a technical analysis are prices: the highest and the lowest prices, the price of opening and closing within a certain period of time, and the volume of transactions.
A technical analysis is founded on three suppositions:
• Movement of the market considers everything;
• Movement of prices is purposeful;
• History repeats itself.
That is, technical analysis is a statistical and mathematical analysis of previous quotes and a prognosis of coming prices.
A number of technical indicators have been installed into the PRO-CHARTS trading system. Analyzing the indicators one can come to the conclusion about further movements of the quoted currencies. For a more detailed description of the indicators, analyzing price charts and volumes of trading, click here.
Fundamental analysis is an analysis of current situations in the country of the currency, such as its economy, political events, and rumors. The country's economy depends on the rate of inflation and unemployment, on the interest rate of its Central Bank, and on tax policy. Political stability also influences the exchange rate. Policy of the Central Bank has a special role, as concentrated interventions or refusal from them greatly influence the exchange rate.
At the same time one should not consider fundamental analysis just as an analysis of the economic situation in the country itself. A far bigger role in the FOREX market belongs to the expectations of the market participants and their assessment of these expectations. Various prognoses and bulletins, issued by the participants, have a strong influence on the expectations. Very often an effect of the so-called self-filfilling prophecy occurs when market players raise or lower the exchange rates according to the prognosis. But a deep and thorough fundamental analysis is available only for big banks with a staff of professional analysts and constant access to a wide field of information.
In spite of these different approaches, both forms of analyses complement one another. Traders who act on the basis of a fundamental analysis, have to consider some technical characteristics of the market (the main rates of support, such as resistance and resale), and supporters of the technical approach to the market must track the main news (interest rates, important political events).
The main merits of the FOREX market are:
• The biggest number of participants and the largest volumes of transactions;
• Superior liquidity and speed of the market: transactions are conducted within a few seconds according to online quotes;
• The market works 24 hours a day, every working days;
• A trader can open a position for any period of time he wants;
• No fees, except for the difference between buying and selling prices;
• An opportunity to get a bigger profit that the invested sum;
• Qualified work in the FOREX market can become your main professional activity;
• You can make deals any time you like.
As far as the freedom from any external control and free competition are concerned, FOREX is a perfect market. It is also the biggest liquid financial market. According to various assessments, money masses in the market constitute from 1 to 1.5 trillion US dollars a day. (It is impossible to determine an absolutely exact number because trading is not centralized on an exchange.) Transactions are conducted all over the world via telecommunications 24 hours a day from 00:00 GMT on Monday to 10:00 pm GMT on Friday. Practically in every time zone (that is, in Frankfurt-on-Main, London, New York, Tokyo, Hong Kong, etc.) there are dealers who will quote currencies.
FOREX is a more objective market, because if some of its participants would like to change prices, for some manipulative purpose, they would have to operate with tens of billions dollars. That is why any influence by a single participants in the market is practically out of the question. The superior liquidity allows the traders to open and/or close positions within a few seconds. The time of keeping a position is arbitrary and has no limits: from several seconds to many years. It depends only on your trading strategies. Although the daily fluctuations of currencies are rather insignificant, you may use the credit lines, that are accessible even to currency speculators with small capitals ($ 1,000 - 5,000), where the profit may be impressive. (You can learn more about it in the section: The main principles of trading.)
The idea of marginal trading stems from the fact that in FOREX speculative interests can be satisfied without a real money supply. This decreases overhead expenses for transferring money and gives an opportunity to open positions with a small account in US dollars, buying and selling a lot of other currencies. That is, on can conduct transactions very quickly, getting a big profit, when the exchange rates go up or down. Many speculative transactions in the international financial markets are made on the principles of marginal trading.
Margin trading is trading with a borrowed capital. Marginal trading in an exchange market uses lots. 1 lot equals approximately $100,000, but to open it it is necessary to have only from 0.5% to 4% of the sum.
For example, you have analyzed the situation in the market and come to the conclusion that the pound will go up against the dollar. You open 1 lot for buying the pound (GBP) with the margin 1% (1:1000 leverage) at the price of 1.49889 and wait for the exchange rate to go up. Some time later your expectations become true. You close the position at 1.5050 and earn 61 pips (about $ 405). For the calculation of 1 pip click here.
Everyday fluctuations of currencies constitute about 100 to 150 pips, giving FX traders an opportunity to make money on these changes.
In FOREX, it's not obligatory to buy some currency first in order to sell it later. It's possible to open positions for buying and selling any currency without actually having it. Usually Internet-brokers establish the minimum deposit such as $ 2000, for working in the FOREX market, and grant a leverage of 1:100. That is, opening the position at $100,000, a trader invests $1,000 and receives $99.000 as a credit. The major currencies traded in FOREX, are Euro (EUR), Japanese yen (JPY), British Pound (GBP), and Swiss Franc (CHF). All of them are traded against the US dollar (USD).
In order to assess the situation in the market a trader has to be able to use fundamental and/or technical analysis, as well as to make decisions in the constantly changing current of information about political and economic character. Most small and medium players in financial markets use technical analysis. Technical analysis presupposes that all the information about the market and its further fluctuations is contained in the price chain. Any factor, that has some influence on the price, be it economic, political or psychological, has already been considered by the market and included in the price. The initial data for a technical analysis are prices: the highest and the lowest prices, the price of opening and closing within a certain period of time, and the volume of transactions.
A technical analysis is founded on three suppositions:
• Movement of the market considers everything;
• Movement of prices is purposeful;
• History repeats itself.
That is, technical analysis is a statistical and mathematical analysis of previous quotes and a prognosis of coming prices.
A number of technical indicators have been installed into the PRO-CHARTS trading system. Analyzing the indicators one can come to the conclusion about further movements of the quoted currencies. For a more detailed description of the indicators, analyzing price charts and volumes of trading, click here.
Fundamental analysis is an analysis of current situations in the country of the currency, such as its economy, political events, and rumors. The country's economy depends on the rate of inflation and unemployment, on the interest rate of its Central Bank, and on tax policy. Political stability also influences the exchange rate. Policy of the Central Bank has a special role, as concentrated interventions or refusal from them greatly influence the exchange rate.
At the same time one should not consider fundamental analysis just as an analysis of the economic situation in the country itself. A far bigger role in the FOREX market belongs to the expectations of the market participants and their assessment of these expectations. Various prognoses and bulletins, issued by the participants, have a strong influence on the expectations. Very often an effect of the so-called self-filfilling prophecy occurs when market players raise or lower the exchange rates according to the prognosis. But a deep and thorough fundamental analysis is available only for big banks with a staff of professional analysts and constant access to a wide field of information.
In spite of these different approaches, both forms of analyses complement one another. Traders who act on the basis of a fundamental analysis, have to consider some technical characteristics of the market (the main rates of support, such as resistance and resale), and supporters of the technical approach to the market must track the main news (interest rates, important political events).
The main merits of the FOREX market are:
• The biggest number of participants and the largest volumes of transactions;
• Superior liquidity and speed of the market: transactions are conducted within a few seconds according to online quotes;
• The market works 24 hours a day, every working days;
• A trader can open a position for any period of time he wants;
• No fees, except for the difference between buying and selling prices;
• An opportunity to get a bigger profit that the invested sum;
• Qualified work in the FOREX market can become your main professional activity;
• You can make deals any time you like.
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