Technical Analysis

Can USD/JPY Hold Above 79?

Fri, 25 May 2012 10:10:19 GMT

On Thursday Dollar/Yen traded within very narrow 30 pip range. The currency couple appreciated from 79.32 to 79.64 yesterday, not matching the negative money flow sentiment at almost -10%, closing the day at 79.58. This morning the Dollar strengthened further against the Yen, lifting up to 79.83, than commenced adjusting.

Forex Technical Analysis

Fri, 25 May 2012 08:45:01 GMT

The bias continue to be bearish after yesterday's test of 1.2620 resistance and my outlook is negative, for a slide towards 1.2412. Minor intraday support is projected at 1.2513 low.

Morning Forex Technical

Fri, 25 May 2012 08:35:03 GMT

EUR/USD has stalled near 1.2509 and is currently attempting to recover, as a result we may observe a shallow rally, which should be capped by 1.2640/42. Accordingly, we expect the major bearish trend to persist, being that almost all of the daily indicators imply continuation of a fall. After 1.2509

GBP/USD Stabilizes Above 1.565

Fri, 25 May 2012 08:02:44 GMT

On Thursday Pound/Dollar traded within 90 pip range. The Cable appreciated from 1.5637 to 1.5727 yesterday, in converse with the negative money flow sentiment at nearly -28%, closing the day at 1.5662. Today the British Pound is trading quietly, with movements within yesterday's range for time being.

Today's Market Outlook

Fri, 25 May 2012 07:52:27 GMT

Negative sentiment continues to pressure the single currency, as yesterday’s recovery attempt was short-lived and unable to regain previous annual low that now acts as initial resistance. Yesterday’s close below 1.2600 handle shows that further weakness is very likely, as the near-term price action moves just ahead of yesterday’s fresh

Technical Analysis for Major Currencies

Fri, 25 May 2012 07:49:08 GMT

After achieving some kind of correction towards 1.2620 zones, the pair has collapsed again re-attacking the pivotal support at 1.2515 as seen on the provided daily graph. Additional negative pressure could be witnessed over intraday basis supported by stability below 1.2625 -previous broken support turned into resistance- and the negativity

Technical Analysis for Crosses

Fri, 25 May 2012 07:33:14 GMT

The pair settled within a sideway range around 124.80 since yesterday evening, but still below the level of 125.65. Therefore, we expect an intraday downside movement today , targeting mainly the retest level of 123.30, which requires a daily closing below 125.65.

Daily Technical Analysis

Fri, 25 May 2012 07:12:06 GMT

The EURUSD attempted to push higher yesterday, topped at 1.2618 but whipsawed to the downside and closed at 1.2534, keep the bearish bias remains strong. We have seen strong bearish pressures in the last four weeks broke some important supports and now price is testing another important support around 1.2500/30.

Daily FX Report

Fri, 25 May 2012 07:06:16 GMT

In contrast to Luxembourg's Prime Minister Juncker's statement yesterday, Italian's Prime Minister Monti announced its confidence of the implementation of the heavily discussed euro bonds even against the resistance of Germany. He emphasized that Germany's export figures are highly depending on the 17 nation's currency and its stability in the

Forex Technical Update

Fri, 25 May 2012 06:40:46 GMT

EURUSD: The EUR/USD is currently trading at 1.2526 levels. Euro is heading for a biggest drop in seven weeks, amid the rising concerns over the euro zone crisis. European manufacturing and Service PMI figures dropped for the month of May, adding more pressure on the currency. At the EU summit,

EUR/USD Slows Downtrend, Holding Above 1.25 For Now

Fri, 25 May 2012 04:54:35 GMT

On Thursday Euro/Dollar traded within 115 pip range. The European currency appreciated from 1.2514 to 1.2620 yesterday, not matching the negative money flow sentiment at around -14%, closing the day at 1.2530. This morning the Euro is trading quietly, with movements at the lower end of yesterday's range for now.

Forex and Dow Jones Recommended Levels

Fri, 25 May 2012 04:45:25 GMT

EUR/USD Today's support: - 1.2498(main), where correction is possible. Break would give 1.2479, where correction also may be. Then follows 1.2451. Break of the latter would result in 1.2426. If a strong impulse, we would see 1.2405. Continuation will give 1.2380.

Foreign Exchange Market Commentary

Fri, 25 May 2012 04:05:51 GMT

The EURO closed lower on Wednesday and the midrange close sets the stage for a steady opening on Thursday. Stochastics and the RSI are neutral to bearish signalling that additional weakness is possible nearterm. If it extends this month's decline, weekly support crossing is the next downside target. Closes above

Market Morning Briefing

Fri, 25 May 2012 03:33:30 GMT

The Euro (1.2530) has come off from its high of 1.2619 and can break below its Support at 1.2530 to fall further to 1.2450. Dollar-Yen (79.69) is mixed and ranged between 79.00 and 80.10. The Euro-Yen Cross (99.80) is trading almost flat in a narrow range of 99.50-100.00 and remains

The Daily Forecaster: EURJPY

Fri, 25 May 2012 03:29:27 GMT

USDJPY has begun to display a more positive direction while EURUSD is rather balanced between up down… Even if this is to dip further I feel we should see a correction higher but wait until the 100.26 high is taken out. If seen then look for extension through to

GBP/USD Trading At The February/March Consolidation Support

Fri, 25 May 2012 03:21:35 GMT

The GBP/USD has been very bearish since the BoE inflation report and Mervyn King's testimony revealed that QE is still on the table. Inflation has been checked, and recent inflation data confirmed the trend of stabilizing prices. Lower commodity prices in May also suggest that the inflation issue is not

FX Report: AUD/USD

Fri, 25 May 2012 03:18:28 GMT

AUD/USD backed away from the 0.9690 lows over the last 24 hours despite the weaker data being released across the globe. Starting with the downbeat HSBC China Manufacturing PMI then into the weak European PMI's before ending with US Durable Goods orders disappointing. Asian markets could not drive the price

The Daily Wave Analysis

Fri, 25 May 2012 03:09:55 GMT

Presumably, the impulse formation (v) of [c] is close to completion . If this assumption is correct, in the course of the formation development we can expect the further upward price movement.

Daily Forex Update: CAD/CHF

Fri, 25 May 2012 03:04:59 GMT

Autochartist has recently identified the Ascending Triangle chart pattern on the daily CAD/CHF charts. The overall Quality of this chart pattern is rated at the 4 bar level as a result of the low Initial Trend (rated at the 2 bar level), below-average Uniformity (5 bars) and stronger Clarity (6

USD/CHF Slowing Its Bull Run at the 2012 High

Thu, 24 May 2012 15:11:17 GMT

The USD/CHF has been rallying sharply and is now back to where it was at the beginning of the year when the market made a 2012 high at 0.9593. In January the market fell from this area first to 0.9410, then all the way down to the 2012 low of 0.8927.