Archive for the ‘Forex Analysis’ Category
Risk Aversion Bringing GBP/JPY to the Critical 127.00 Pivot
It is looking more and more apparent that the intervention is not able to cap Japanese strength in our current risk-off environment.
The GBP/JPY is pushed back to a critical support at 127.00. Falling below this and then 126.68 near the 61.8% retracement suggests bearish continuation.
If the market can hold below
AUDUSD: Clears The 1.0389 Level, Targets Further Weakness
With a follow through lower seeing the pair eroding the 1.0389 level, its Jun'27 '2011 low during Monday trading today, further bearishness is expected towards its April 05'2011 low at 1.0287. AUDUSD has been under pressure since collapsing off the 1.1078 level on July 28'2011. On a cut through the
NZD/USD Completes a 5-Wave Decline; 0.8120 Targeted Below 0.83
Both the Aussie and the Kiwi are showing significant declines. While the AUD/USD formed a double top, the NZD/USD does not have such topping action.
However the 4H chart does offer some clues to a reversal in place. 1) 5-wave decline taking place (the motive wave may not be over yet,
Euro Relief Fading Against USD, GBP, JPY, and CHF
After calming the market son Friday by buying Italian bonds, the market started this week Euro-negative (after an initial upwards continuation). The EUR/USD, EUR/GBP, EUR/JPY, and EUR/CHF pairs ended their relief rally in this week’s first European trading session. Let’s take a look at the technical levels and setups in
USD/JPY Slowly Losing Last Week’s Gains
On Friday Dollar/Yen resumed decreasing significantly with 110 pips, matching the negative Interbank sentiment at nearly -66%. The currency couple depreciated from 79.40 to 78.30 on Friday, closing the day at 78.27. This morning the Dollar descended further against the Yen, dropping down to 77.42. On the 1 hour chart
FX Technical Commentary
Euro 1.4390 Initial support at 1.4014 (July 18 low) followed by 1.3951 (Jul 13 low). Initial resistance is now located at 1.4454 (Aug 1 high) followed by 1.4536 (Jul 27 high)
Forex Technical Analysis
EUR/USD is in consolidation after the recent top at 1.4941 (May 4th, 2011). Technical indicators on daily basis are ascending and trading is situated above the 200-Day SMA, and the daily trend line. Trading takes place in a wide range and the daily levels of resistance are situated in the
Daily FX Report
After the downgrading of the U.S.'s long-term credit grade by Standard Poor's, the demand for safe assets has increased. The CHF rose to a record high against the USD, while the JPY gained the second day in a row against the greenback. Standard and Poor's kept its outlook on
AUD/USD Plunging In A Major Double Top Formation
AUD/USD is falling sharply. It has completely decoupled with gold, which continues to make record highs. After breaking below 1.0780 area, the AUD/USD looked for the 1.0440 consolidation support, but the market has broken below that and is now heading to our next targets, just above 1.0200. Note the
GBP/USD Pushing Up Above 1.6385
On Friday Pound/Dollar increased significantly with 170 pips, in line with the morning positive Interbank sentiment at nearly +4%. The Cable appreciated from 1.6227 to 1.6398 on Friday, closing the week at 1.6376. Today the British Pound rose further, climbing up to 1.6483. On the 1 hour chart range trading
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