FOREX: July 2009

Thursday, July 2, 2009

GBP/USD Has Dropped 130 Pips

GBP/USD has fallen further in the European session after falling from 1.6500 level in Asian session.

Cable has dropped 130 pips in the last hour from 1.6460 (MA200 hourly chart) to post 1.6330 as fresh 1-week low.

USD/JPY Rises To Test 96.80

After trading in a small range between 96.50 and 96.70 during the Asian session, USD/JPY has accelerate its pace to climb 30 pips to test 96.80 in the early European morning.

USD/CHF Recovered From 1.0707

The USD/CHF's recovery from 1.0707, 1 week low reached yesterday, has continued further in the European session to trade above 1.0800 level and post 1.0826 as fresh intra-day high.

Forex Market Outlook On Majors

GBP/USD Rate : +1.6415+

Cable's intra-day selloff below 1.6452 in line with dlr's rebound vs other European ccys suggests
recovery fm 1.6381 has ended

Forecast on Japanese Yen Crosses

EURJPY

EURJPY breached the prior day's high and closed @ 13670 which was well above the open. ECB rate announcement & Non Farm Payroll.

Forecast On US Dollar Minors

USDCHF breached the prior day's low and closed @ 10755 which was well below the open. ECB rate announcement & Non Farm Payroll.

Forecast On US Dollar Majors

EURUSD breached the prior day's high but gave up some of the gains and closed @ 14145 which was above the open.ECB rate announcement & Non Farm Payroll.

Forex Technical Outlook

EURUSD

Yesterday's boost to as high as 1.4200 - above last month's top at 1.4140 is seen as a bullish confirmation of current trend and the overnight pullback to 1.4100 is corrective.

EUR/USD Outlook 07.02.2009

EUR/USD: 1.4126

As euro has edged higher after initial weakness to 1.4113 n sideways consolidation is envisaged, a
rise back abv 1.4172 is needed to signal pullback fm y'day's high at 1.4202 has ended n bring re-test of said res, then one more rise to 1.4225 later.

ANALYSIS FOR USDCAD

Losses developed from a slightly lower level than expected but did reach the 1.1435-45 target. I don't really see any reversal signals currently and thus I am probably more in favor of another marginal new low today around the 1.1358-84 area.

USD/JPY Outlook

EUR/USD: 96.60

Despite initial weakness at Asian opening due to cross-buying in yen, as renewed bids at 96.38 has
contained weakness

Additional Potential For Euro

EUR

The pre-planned break-out variant for buyers has been implemented with achievement of minimal anticipated target.

Futures Market Technical And Fundamental Recap

Tomorrow is U.S. Unemployment Report day. Traders are guessing that 365,000 jobs were lost in June. This figure should push the Unemployment Rate to 9.6%. Trading was thin in most commodity markets.

EUR/USD Overview

EURUSD is in a swing mood. After bulls takes the lead the bears comes back with a revenge, but importantly that revenge is not so powerful that could break the trend of positiveness.

Euro Technical Analysis

EUR

Comment: Media getting excited as the Euro manages is strongest close in a month.

Currency Technical Analysis

EUR/USD - Euro Dollar

1,4116. EUR USD is in a consolidation after the last bullish movement. The volatility decreases. Bollinger bands are tightened.

EUR/USD Outlook

EUR/USD: (1.4111) Retested 1.4178

Daily Long Term Moving Average↑ (1.3982 today) managed to act as Support in recent downmove, with pair having retested 1.4178 .

FX And Dow Jones Recommended Levels

Several words about the EUR/USD Future.

Resistance (daily close) : 1.3182, 1.3364, 1.3590 and 1.3778. After that 1.3958, 1.4186 and 1.4400.

Currency Technical Perspective

EUR/USD Current price: 1.4144

Downside correction halted around 1.4130 zone, and the pair is regaining the upside with Nikkei opening, that as expected is following U.S. stocks good tone, approaching to 10.000 level.

Wednesday, July 1, 2009

EUR/GBP Outlook

Price action on EUR/GBP, a daily chart of which is shown, has been consolidating in a triangle formation as it has retraced back up to a key downtrend resistance line extending from the 0.9500 double-top high in mid-March.

Forecast On US Dollar Majors

EURUSD

EURUSD fell short of 20 pips from our price target we suggested and closed @ 14035 which was below the open. The Hourly Oscillators are bearish and the price is above the MA, so Cautious approach is needed.

Forex Technical Outlook

EURUSD

The euro lost some ground on yesterday as it failed to hold gains above the 1.4100 handle, and closed lower - therefore affecting the monthly bar that has been closed by 110 points below the open price of 1.4145 which provided the turning point resistance on yesterday's initial rally.

ANALYSIS FOR AUDUSD

The 0.8141-66 resistance worked perfectly and I suspect we have seen the top here. However, there is a risk of what could be a deep pullback.

EUR/USD Technical Report

The absence of a basic trend and the sideways formation we had mentioned, were confirmed yesterday, as the area of 1,4130-50 was reached but not breached and euro moved back to 1,4000 area.

Japanese Yen Declined Against A Basket Of Major Currencies

The EUR/GBP has been trading close to a downward trend−line during the last Quarter

Today the JPY declined against a basket of major currencies after the Bank of Japan Tankan survey showed that the sentiment among the largest manufacturers rebounded indeed from a record low but rose less than economists expected from minus 58 in March to 48.

FX And Dow Jones Recommended Levels

Several words about the EUR/USD Future.

Resistance (daily close) : 1.3182, 1.3364, 1.3590 and 1.3778. After that 1.3958, 1.4186 and 1.4400. Break of the latter will give 1.4490, 1.4692 и 1.4884.

USD/JPY Outlook

The chart shows the USD/JPY movement since the start of the year.

It is corrective in nature and is developing as a zigzag.

Euro's Bullish Potential Is Under The Threat

EUR

OsMA trend indicator having marked the current week top by formation of topping bearish signal with further relative sales activity rise gives grounds to suppose further rate fall as well as further preservation of bearish planning priorities.

Chart Of The Day EUR/USD

EURUSD gone back where they were before and that is neutral position, no trend yet.

Euro Technical Analysis

EUR

Comment: Pity it did not manage a monthly and quarterly close above 1.4200. Until then we shall have to allow for yet more random consolidation within the recent range.

EUR/USD Overview

EUR/USD: (1.4034) Above Triangle pattern, but at apex

Daily Long Term Moving Average↑ (1.3956 today) managed to act as Support in recent downmove, with pair above Triangle pattern, but at apex .

Currency Technical Analysis

European Session

EUR/USD - Euro Dollar

1,4039. EUR USD is in a consolidation after the last bearish movement. EUR USD is in a range between 1,3980 and 1,4150.

Currency Technical Perspective

EUR/USD Current price: 1.4043

After falling back to the 1.4000 zone, pair is consolidating inside a small triangle, suggesting a probable downside continuation in breaks under 1.4025 first support for today.

Chart Of The Day | USD/CAD

Price action on USD/CAD, a daily chart of which is shown, has tentatively poked out above a key downtrend resistance line extending from the fourth test of the 1.30 price region back in March.

S And P Futures Slide With Consumer Confidence

The S&P futures are heading south Tuesday morning after CB consumer confidence came in roughly 10% below analyst expectations.

Crude Sinks Following Disappointing Consumer Confidence Number

Crude futures have dipped back beneath our 2nd tier downtrend line after CB consumer confidence came in roughly 10% below analyst expectations. The negative showing in consumer confidence overpowers the slightly better than anticipated housing and PMI data.

Gold Pulls Back With Appreciating Dollar

Gold has backed away from our 1st tier downtrend line, and is dropping below our previous 1st tier uptrend line despite a slightly better than expected HPI number. Even though the decline in home prices improved slightly, the abnormal negative growth rate ensues.

USD/JPY Awaits TMI Data

The USD/JPY’s volume is declining as the currency pair edges up towards the inflection point of our 3rd tier uptrend line and 2nd tier downtrend line.

Thursday, July 2, 2009

Wednesday, July 1, 2009

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