FOREX TRADING

EUR/USD

Current level – 1.2964

EUR/USD is in a downtrend, after peaking at 1.5146 (Nov.25,2009). Technical indicators are descending, and trading is situated below the 50- and 200-Day SMA, currently projected at 1.3458 and 1.4206

The rebound from 1.2520 filled our targets at 1.2801 and 1.2910 and the bias continues to be positive for 1.3042. Important resistance on the upside is 1.3115-30 and we will expect a reversal below that area to target 1.2801 again. Intraday crucial level is 1.2901.

(more…)

EUR/USD

Current level – 1.2768

EUR/USD is in a downtrend, after peaking at 1.5146 (Nov.25,2009). Technical indicators are descending, and trading is situated below the 50- and 200-Day SMA, currently projected at 1.3458 and 1.4206

The pair consolidated well above 1.2800 lows and the downtrend is renewed, targeting 1.2650-70 area. Intraday resistance comes at 1.2801, followed by the crucial 1.2857. RSI (14) on the 30 min time-frame is indicating a divergence with the 1.2935 and 1.2802 lows, so we are tempted to believe, that current slide below 1.2800 is the final leg of the massive sell-off from 1.3360. Confirmation will be received with a break above 1.2857 and the pair will enter a larger corrective phase, which will aim to correct the downtrend from 1.3360.

(more…)

EUR/USD

Current level – 1.3236

EUR/USD is in a downtrend, after peaking at 1.5146 (Nov.25,2009). Technical indicators are neutral, and trading is situated below the 50- and 200-Day SMA, currently projected at 1.4793 and 1.4169.

We continue to favor the idea, that the rebound from 1.3115 was corrective in nature, preceding next slide towards 1.30+ sentiment area. A top has been set at today’s 1.3361 high and current bias is negative, towards 1.3115. Initial resistance comes at 1.3280, followed by the crucial 1.3325.

(more…)

EUR/USD

Current level – 1.3214

EUR/USD is in a downtrend, after peaking at 1.5146 (Nov.25,2009). Technical indicators are neutral, and trading is situated below the 50- and 200-Day SMA, currently projected at 1.4793 and 1.4169.

The rebound from 1.3114 is to be considered corrective in nature, preceding next slide towards 1.30+. Intraday resistance comes at 1.3280-90 and crucial on the 2 h. chart is 1.3416.

(more…)

EUR/USD

Current level – 1.3173

EUR/USD is in a downtrend, after peaking at 1.5146 (Nov.25,2009). Technical indicators are neutral, and trading is situated below the 50- and 200-Day SMA, currently projected at 1.4793 and 1.4169.

The consolidation pattern above 1.3201 has been completed and the downtrend renewed towards 1.30+ sentiment area, en route to 1.2880. Intraday resistance comes at 1.3219, but really important is the 1.3270-83 zone.

(more…)

EUR/USD

Current level – 1.3355

EUR/USD is in a downtrend, after peaking at 1.5146 (Nov.25,2009). Technical indicators are neutral, and trading is situated below the 50- and 200-Day SMA, currently projected at 1.4793 and 1.4169.

Still in the consolidation pattern above 1.3201 and the pair already tested 1.3421 minor resistance.The intraday outlook is negative for 1.3292, where a reversal for one more upward test in the 1.3450 are can be expected. The overall bias on the 4 h. chart remains bearish.

(more…)

EUR/USD

Current level – 1.3463

EUR/USD is in a downtrend, after peaking at 1.5146 (Nov.25,2009). Technical indicators are neutral, and trading is situated below the 50- and 200-Day SMA, currently projected at 1.4793 and 1.4169

The pair reversed at 1.3415 and currently a ‘bullish flag’ is on the run, preceding a rise towards 1.3550. The overall outlook here remains neutral with a slightly negative bias towards 1.3350.

(more…)

EUR/USD

Current level – 1.3452

EUR/USD is in a downtrend, after peaking at 1.5146 (Nov.25,2009). Technical indicators are neutral, and trading is situated below the 50- and 200-Day SMA, currently projected at 1.4793 and 1.4169.

The downtrend from 1.3680 filled our target at 1.3442, but the bias is still negative, so expect further depreciation towards 1.3297. Important resistance on the upside is 1.3521 and crucial is 1.3586.

(more…)

EUR/USD

Current level – 1.3556

EUR/USD is in a downtrend, after peaking at 1.5146 (Nov.25,2009). Technical indicators are neutral, and trading is situated below the 50- and 200-Day SMA, currently projected at 1.4793 and 1.4169

Yesterday’s slide bottomed at 1.3513 and we continue to be bearish here for 1.3442 with an initial resistance at 1.3582-96 area. Only a clear break above that zone will confirm, that the slide from 1.3690 is corrective in nature and will target 1.3820 major resistance.

(more…)

EUR/USD

Current level – 1.3579

EUR/USD is in a downtrend, after peaking at 1.5146 (Nov.25,2009). Technical indicators are neutral, and trading is situated below the 50- and 200-Day SMA, currently projected at 1.4793 and 1.4169.

Although there is no change here, we continue to expect a slide towards 1.3497 and probably 1.3442. Crucial on the upside is 1.3681.

(more…)

EUR/USD

Current level – 1.3633

EUR/USD is in a downtrend, after peaking at 1.5146 (Nov.25,2009). Technical indicators are neutral, and trading is situated below the 50- and 200-Day SMA, currently projected at 1.4793 and 1.4169.

Yesterday’s downward attempt bottomed at 1.3545, bouncing all the way up to 1.3667. The lack of trend dynamics here justifies a neutral outlook on the 1h. chart, but on the lower frames a break below 1.3618 support is to be expected, for one more slide towards 1.3497.

(more…)

EUR/USD

Current level – 1.3306

EUR/USD is in a downtrend, after peaking at 1.5146 (Nov.25,2009). Technical indicators are neutral, and trading is situated below the 50- and 200-Day SMA, currently projected at 1.4793 and 1.4169

The downtrend is intact and is about to test 1.3267 low. A larger rebound from that area is quite possible, but it will be confirmed after a break above 1.3341 intraday crucial level.

(more…)

EUR/USD

Current level – 1.3387

EUR/USD is in a downtrend, after peaking at 1.5146 (Nov.25,2009). Technical indicators are neutral, and trading is situated below the 50- and 200-Day SMA, currently projected at 1.4793 and 1.4169.

Yesterday’s slide bottomed at 1.3355 and current rebound is corrective in nature, preceding next sell towards 1.3267 lows. The minor consolidation above 1.3355 is expected to be limited below 1.3424 and crucial on the upside is 1.3460 resistance.

(more…)

Overbought Test Of Resolve

Gbp/Usd moved 100 pips higher during the European session after reports from the U.K. labor market hit the newswires that were better than expected. The minutes from the recent Bank of England rate meeting revealed that nothing much had changed from the previous month, and that CPI and inflation reads were as much to do with a weaker pound than instigated by internal growth.

The MPC minutes suggest that interest rate increases are just as far away in the U.K. as any other major region, with the exception of Australia. This news had a positive effect on the major currencies, but the pound is the only pair to make a substantial breakout. (more…)

Dollar And Yen Fall As Optimism Returns

The dollar fell against most major currencies on Monday as positive global economic data induced investors to buy riskier assets. The ISM US manufacturing PMI showed US manufacturing activity expanded to the highest level since August 2004; personal income grew slightly more than expected; and personal spending increased for a third consecutive month. The S&P 500 rose 15.32 to 1,089.19. The yen fell as risk aversion eased. Sterling rose modestly on the strongest manufacturing PMI in 15 years and speculation the Bank of England will exit its quantitative easing program at Thursday’s policy meeting. Earlier the pound was pressured by opinion polls indicating neither of the big parties would win a majority in the upcoming election. The oversold Australian and Canadian dollars rose on higher commodity prices. The Reserve Bank of Australia is expected to raise its key interest rate by 25 basis points to 4.00%.

The EUR/USD rose for the first day in six as the Greek yield spread narrowed. EU Economy Commissioner Joaquin Almunia stated that EU executives believed Greece can fix its budget crisis but there are risks. If those risks materialize, the EU would demand new measures, such as new taxes and cutbacks. The EUR/USD is in a strong downtrend but oversold and bounced on the 1.38-area support today. There are resistances the 1.40 and 1.42 areas.

(more…)