FXstreet.com: Technical: Technical Analysis Reports

Risk Aversion Supporting Dollar

info@forexhound.com (ForexHound.com) — Tue, 24 Nov 2009 18:35:27 GMT

Comprehensive FX and Futures Daily Research

info@fastbrokers.com (FastBrokersFX) — Tue, 24 Nov 2009 16:49:51 GMT

Daily Market Commentary EUR/USD Fluctuates Following Negatively Mixed U.S. Data The EUR/USD was rejected by its psychological 1.50 level once again, and the currency pair is fluctuating between our 2nd tier uptrend and downtrend lines as activity wanes in advance of the Thanksgiving holiday. Today’s EU data releases were all positive with Germany’s Ifo Business Climate and EU Industrial New Orders topping analyst expectations. The EUR/USD strengthened following the EU releases, but this

Chart of the Day – USD/JPY

info@fxsol.com (FX Solutions) — Tue, 24 Nov 2009 15:52:11 GMT

(Chart courtesy of FX Solutions' FX AccuCharts. Price on 1st pane, Slow Stochastics on 2nd pane; horizontal support/resistance levels in yellow; uptrend lines in green; downtrend lines in red; chart patterns in white; 50-period simple moving average in light blue.) 11/24/2009 – USD/JPY – Bearish price action on USD/JPY, a daily chart of which is shown, has just made a new 6-week low and is currently targeting a re-test of the key 88.00 support level, which was last hit in early October. This

Stock Markets Flat to Higher Ahead of U.S. GDP Report

info@forexhound.com (ForexHound.com) — Tue, 24 Nov 2009 14:52:44 GMT

U.S. equity markets are trading flat to higher ahead of this morning’s U.S. 3rd Quarter GDP Report. Expectations are for the report to show a decrease in the economy from 3.5% to 2.8%. A wider trade gap and faltering consumer spending are cited as the main reasons behind the decline. Yesterday the equity markets weakened throughout the day after

Forex Traders Await U.S. GDP Report

info@forexhound.com (ForexHound.com) — Tue, 24 Nov 2009 14:51:14 GMT

The Dollar is trading slightly better as traders await this morning’s U.S. 3rd Quarter GDP Report. The report is expected to show a decrease from the previous estimate. Previously the report showed an increase of 3.5% which some economists thought was too high. Today’s report is expected to show growth of 2.8%. A wider trade gap and weak retail sales are expected to weigh on GDP performance. The Forex markets are reversing yesterday’s gains. Risk aversion

Currency Majors Technical Perspective

analyst@fxstreet.com (FXstreet.com Independent Analyst Team) — Tue, 24 Nov 2009 14:38:02 GMT

EUR/USD Current price: 1.4975 After U.S. GDP under expectations, yet at 2.8%, pair is almost unchanged. Hourly indicators show pair is losing previous upside strength, with price action closely attached to gold movements rather than stocks. Still trading in weekly range pair needs to strongly clear the 1.5000/20 level to trigger an upside acceleration, not seen at this point. Watch for a break under today’s low around 1.4880 support, to trigger some bearish movements in the next hours. Support

Currency Technical Report

trading@fxgreece.gr (FXGreece) — Tue, 24 Nov 2009 11:29:43 GMT

EUR/USD Resistance: 1,4960-65/ 1,5000 / 1,5020/ 1,5050/ 1,5070/ 1,5100/ 1,5140-50 Support : 1,4910-20/ 1,4870-80/ 1,4850/ 1,4815-20/ 1,4790 Comment : There is no particular change in euro outlook, as the sideways formation continues. Yesterday’s rise towards 1,5000 met sellers, and euro declined again to 1,4900-20 area this morning. The exit from the sideways formation is possible this week. Usually these formations break towards the basic trend, and in this case, the basic trend is bullish.

FX Thoughts for the Day

info@kshitij.com (Kshitij Consultancy Service ) — Tue, 24 Nov 2009 12:26:33 GMT

USD-CHF @ 1.0090/93...Resistance in 1.0160-80 region R: 1.0160-80 / 1.0220 / 1.0280 S: 1.0050-30 / 0.9980 / 0.9950 After breaking above the Resistance at 1.0130 and recording a high of 1.0152 during the day, Swiss has fallen once again and is now trading lower. Our view continue to remain the same on the pair. Resistance seen in 1.0160-80 region which we expect to hold in the US session today as the broader picture continue to remain bearish. Note that the projected Max-High for the day is

The AUD/JPY fell to 81.85 and the NZD/JPY fell to 64.80

info@varengold.de (Varengold Wertpapierhandelsbank AG) — Tue, 24 Nov 2009 11:13:23 GMT

Welcome to Varengold’s Daily FX Comment. Low-yielding currencies like the USD and the JPY started the day with positive performances while the Asian stocks fell this morning. However, we wish you good luck in trading. Market review The USD and the JPY recovered from losses, as traders pulled out of speculation against the two funding currencies before the U.S. Thanksgiving holiday. The USD climbed against a basket of major currencies before a report may show that the U.S. economy expended at a

Forex Technical Analysis on Majors

office@deltastock.com (www.deltastock.com) — Tue, 24 Nov 2009 10:26:29 GMT

EUR/USD Current level-1.4934 EUR/USD is in a broad consolidation, after bottoming at 1.2331 (Oct.28,2008). Technical indicators are neutral, and trading is situated above the 50- and 200-Day SMA, currently projected at 1.4793 and 1.3523. Current slide from 1.4999 is to be considered corrective in nature before next leg upwards, to 1.5063 and 1.5130. The minor resistance at 1.4960 is today's trigger point for a renewed positive bias on the 1 h. chart.

Gap Up But Resistance Holds...

info@advicetrade.com (SwingTradeOnline.com) — Tue, 24 Nov 2009 10:19:34 GMT

The overseas markets were up nicely last night. Asia started the run and Europe followed. This led to our futures starting higher and running throughout the night. They didn't fade as the morning wore on allowing a run up to the 1111 S&P resistance zone. We also breached slightly the 2148 Nasdaq gap, but ultimately these levels proved to be too tough near term for the bulls, and the day was spent pulling back off these levels although solid gains were made across the board. The bulls can't

Dow Jones Closes at Highest Level in 13 Months

info@UFXBank.com (UFX Bank) — Tue, 24 Nov 2009 09:19:48 GMT

Daily Review 24/11/2009 USD Dollar (USD) – The rally in Europe and Wall Street put pressure on the Dollar that fell across the board and rose only against the Yen. The existing home sales data that came at 6.1M, better than the 5.7M expected and comments about interest rate staying at low levels for some time fueled stocks. Dow Jones closed at the highest level in 13 months and ended the session with a gain of 1.29%. NASDAQ rose by 1.4% and the S&P 500 increased by 1.36%. Gold (XAU) posted

Financial Trend Analysis Strategy: Short GBPUSD

info@ftanalysis.com (Financial Trend Analysis) — Tue, 24 Nov 2009 08:39:47 GMT

The trading strategies are based exclusively on technical analysis and are short term with a maximum time horizon of 3 to 5 days. The philosophy behind the Today's Trading Signals (TTS) is to take low risk, high return positions with tight stops. That means Financial Trend Analysis (FTA) focus the most on placing the right stops. Every morning FTA reviews the market and the specific strategy, recalculates the risk/reward and then determines the strategy regardless of previous strategy in the

US TNote Future – Dec 2009

Nicole.Elliot@mhcb.co.uk (Mizuho Corporate Bank) — Tue, 24 Nov 2009 08:32:19 GMT

Comment: Open interest highest in over a year as investor’s understand who (and why) would fund the US government’s ballooning budget deficit. It is just a question of time before benchmark ten-year TNote yields break decisively below the pivotal 3.25% level. A monthly close below here (hopefully this coming Monday) would cause a one-off shift in the structure and level of interest rates - permanently lower. Likewise a weekly close above 120.00 on the Dec09 futures contract. Strategy: Buy at

Expecting Bullish Break in Euro

info@forexltd.co.uk (Forex Ltd) — Tue, 24 Nov 2009 08:01:46 GMT

EUR The estimated test of key supports for implementation of the pre-planned long positions has not been confirmed, however, the result of previous trading day combined with priority in bullish party activity gives grounds for preservation of earlier designed trading plans practically unchanged. Namely, we can assume probability of rate return to Senkou Span B line in Ichimoku indicator at 1,4900/20 levels where it is recommended to evaluate the development of the activity of both parties in

EURUSD Technical Analysis

fxquestions@investija.com (Investija.com) — Tue, 24 Nov 2009 07:47:18 GMT

EURUSD new support and resistance levels are formed, it looks like wide trading range is formed between these two barriers. While candles remain in this area, further jumping is expected. For now, while support holds, bulls are in better shape.

GBP: Attempt small longs at 1.6560; stop below 1.6400

Nicole.Elliot@mhcb.co.uk (Mizuho Corporate Bank) — Tue, 24 Nov 2009 07:16:53 GMT

EUR Comment: Still well bid and not overbought, though bullish momentum is low. It looks as though we are setting up for a re-test this year’s high at 1.5064. Rising trendline and the Ichimoku ‘cloud’ should also provide support and suggest a long position for a break to new highs later on. Strategy: Strategy remains unchanged: attempt longs at 1.4930; stop below 1.4800. Short term target 1.5000/1.5055, eventually more. EUR/JPY Comment: Dropping below a very thin daily Ichimoku ‘cloud’, though

EURUSD, GBPUSD & USDJPY Support & Resistance Analysis

info@ransquawk.com (RANsquawk) — Tue, 24 Nov 2009 06:25:47 GMT

Pivotfarm.com is a provider of Technical Analysis data sheets for traders of various markets. Our data considers some of the most widely followed methodologies including Market Profile, Fibonacci, Volume Analysis, Calculated Pivots and most importantly price based Support and Resistance (S&R). We have combined all these methodologies in a confluence matrix. This allows the trader to determine the strength and importance of an S&R level; based upon the levels other market participants

EUR/USD: (1.4945) In channel off 1.3832

piet.lammens@kbc.be (KBC Bank) — Tue, 24 Nov 2009 06:25:47 GMT

Pair currently back below the inverted daily channel top off June low (1.5008 today) with the daily Uptrendline off March low at 1.4929 today. Support area at 1.4926/ .4909 (daily Medium Term Moving Average↑/ break-up hourly), with next levels at 1.4877/ .4873 (daily Bollinger midline/ daily envelope bottom), where pause favored. If wrong, next level at 1.4833 (current week low), ahead of 1.4800 (last week low + daily projection band bottom): tough on 1st tests. Resistance at 1.5000/ .5008

Daily Forex and Dow Jones Recommended Levels

vilks49@yahoo.com (FXtechtrade) — Tue, 24 Nov 2009 06:10:16 GMT

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. Then 1.5117 , 1.5386, 1.5592 и 1.5660. Break of 1.5660 would lead to 1.5865, 1.7280 и 1.9430 (published on 23.10.2008) . Support (daily close) : 1.2610, 1.2428 and 1.2246. Then 1.2128, 1.1970, 1.1838 and 1.1700. Break of the latter would give 1.1533, 1.1352 and 1.1181 (published о n

GBPUSD rebounded from 1.6460 level

info@forexcycle.com (ForexCycle.com) — Tue, 24 Nov 2009 01:51:44 GMT

After a sharp drop from 1.6875, GBPUSD rebounded from 1.6460 level. However, the rise could possibly be consolidation of downtrend, another fall to 1.6300-1.6350 area is still possible after consolidation. Resistance is now at 1.6670 followed by 1.6720, only rise above these levels will indicate that the uptrend from 1.5708 has resumed, then another rise towards 1.6950-1.700 area could be seen to follow.

S&P Finishes Higher but Erases Most Day-Session Gains

info@forexhound.com (ForexHound.com) — Tue, 24 Nov 2009 00:58:05 GMT

All three major stock indices finished higher but intra-day trading action suggests that the markets may be getting expensive at current levels. This morning the three indices surged to the upside mostly on strong buying in Asia and Europe overnight. These markets were buoyed by the weaker Dollar and strong demand for higher yielding assets. Overnight, stock indices got a boost when the Dollar weakened following bearish comments from St. Louis Fed President Bullard. He

U.S. Dollar Reverses Early Session Weakness

info@forexhound.com (ForexHound.com) — Tue, 24 Nov 2009 00:57:02 GMT

Strong selling pressure from Europe and Asia put pressure on the U.S. Dollar early in the trading session. After early New York session weakness plunged the Dollar Futures Index toward last week’s low at 74.75, shorts began covering their positions when the U.S. reported better than expected existing home sales. By the opening, the Dollar had retraced more than 50% of last week’s rally following bearish comments over the weekend by St. Louis Fed President James Bullard who restated his

Currency Majors Technical Perspective

analyst@fxstreet.com (FXstreet.com Independent Analyst Team) — Mon, 23 Nov 2009 23:45:11 GMT

EUR/USD Current price: 1.4964 Despite a new failure attempt to break above 1.5000, pair holds close to daily highs and above 1.4930, past Friday’s high and first support level to consider for the next hours. With strong stocks gains, risk appetite likely to extend during current session pushing the pair higher, with 1.5000/20 as key level to watch to the upside, as only clear confirmations above that level could trigger some upside momentum in the pair. In the mid time, hourly indicators had

S&P Rally Fails to Break through Last Week's High

info@forexhound.com (ForexHound.com) — Mon, 23 Nov 2009 18:53:27 GMT

Despite the weaker Dollar and greater demand for higher risk assets, the December E-mini S&P 500 failed to break through last week’s high at 1112.25, stopping at 1111.50. The December E-mini NASDAQ also failed to make a new high. The December E-mini Dow did rally to a new high for the year, creating a divergence between the three contracts. At this time the divergence is insignificant unless these markets post daily closing price reversal tops. The rally in the stock indices has been

U.S. Dollar Bottoms after Existing Home Sales Report

info@forexhound.com (ForexHound.com) — Mon, 23 Nov 2009 18:42:14 GMT

Comprehensive FX and Futures Daily Research

info@fastbrokers.com (FastBrokersFX) — Mon, 23 Nov 2009 17:06:36 GMT

Daily Market Commentary EUR/USD Rallies Strongly on Positive Flash PMI Data The EUR/USD has taken advantage of its relative strength on Friday stemming from ECB President Trichet’s hawkish comments. The currency pair has since jumped back up to its highly psychological 1.50 level after of a wave of Flash PMI data that was altogether positive. Therefore, it seems the recovery in the EU’s services and manufacturing industries is continuing at a steady pace. In addition to good news from the EU,

Chart of the Day – Silver

info@fxsol.com (FX Solutions) — Mon, 23 Nov 2009 16:21:40 GMT

(Chart courtesy of FX Solutions' FX AccuCharts. Price on 1st pane, Slow Stochastics on 2nd pane; horizontal support/resistance levels in yellow; uptrend lines in green; downtrend lines in red; chart patterns in white; 50-period simple moving average in light blue.) 11/23/2009 – Silver – Price action on spot silver, a daily chart of which is shown, has reached the very top of a key parallel uptrend channel, in the process hitting a new long-term high (just short of $19). This high at the top of

Dynamic price increases on the gold market

Robert.kosowski@xtb.pl (X-Trade Brokers, XTB) — Mon, 23 Nov 2009 14:52:20 GMT

The price of gold continues to increase and now stands at 1165 USD per ounce. This is due to the weakening dollar and increased interest from investors in the gold market. In the third quarter demand for gold increased by 15% compared to the previous quarter, however, comparing to the same quarter of last year, when gold reached record highs because of the deepening global crisis, it is a decrease of 34%. Comparing the average demand for gold in the last 5 years, the demand decline is only 4%.

Gold Surges as Dollar is Unable to Follow-Through to Upside

info@forexhound.com (ForexHound.com) — Mon, 23 Nov 2009 14:46:36 GMT

Last week the December Dollar Index posted a weekly reversal bottom, but the overnight action failed to confirm this bottom with a follow-through rally. This sets up a break of at least 50% of last week’s range or even a new 15-month low. The weaker Dollar has triggered another round of buying in December Gold. Last night gold reached another new all-time high. The

Euro Up Big on Speculation U.S. Economy Will Weaken

info@forexhound.com (ForexHound.com) — Mon, 23 Nov 2009 14:45:22 GMT

The EUR USD is trading sharply higher overnight as speculators increase bets the U.S. economy will continue to weaken. Traders are basing their expectations in part on U.S. economic reports this week which are expected to show a slower than expected recovery. Today, existing home sales may show a slight increase in October, but tomorrow’s revised GDP could be cut below the 3.5% increase presented last month. Among other concerns for investors are high unemployment and

Currency Majors Technical Perspective

analyst@fxstreet.com (FXstreet.com Independent Analyst Team) — Mon, 23 Nov 2009 14:26:44 GMT

EUR/USD Current price: 1.4986 Quoting at daily highs, pair has break above the daily descendant trend line, pointing for further gains during next American session, supported also by record prices in gold; hourly charts show pair even completed a pullback to mentioned trend line, suggesting a test of 1.5020 ahead of 1.5062 this year high during next hours. Despite hourly indicators seem a bit over extended to the upside, 4 hours charts confirm the bias. Expect downside corrections to remain

Speculative investors positioned for USD/JPY downside

danskeresearch@danskebank.com (Danske Bank A/S) — Mon, 23 Nov 2009 13:55:48 GMT

The latest IMM data covers the week from 10 to 17 November. IMM position data was collected following very strong performance in risky assets and prior to the correction seen at the end of last week. It is therefore no surprise that short dollar positions have been building further. However, while the dollar has remained under pressure, EUR/USD has found it difficult to break meaningfully above 1.5. This could explain why short dollar positions have not been added against the euro, but rather

Hold Gold?

info@fxknight.com (fxKnight.com) — Tue, 24 Nov 2009 13:58:53 GMT

Over the last week, Gold again reached record levels – hitting our long-term weekly target at 1133.24. There is speculation that since India recently bought 200 metric tons from the IMF and increased its holdings to 6% that China will follow. China is the largest producer and consumer of gold in the world. Many economists expected that the sale of gold to India by the IMF would cause the price of gold would fall. However, the bottom did not fall out because this purchase was known

FX Thoughts for the Day

info@kshitij.com (Kshitij Consultancy Service ) — Mon, 23 Nov 2009 12:08:09 GMT

USD-CHF @ 1.0094/97...Holding Short R: 1.0100 / 1.0130-50 / 1.0180-0200 S: 1.0050-30 / 1.0-0.9980 / 0.9950 Swiss continued its downmove during the day and has broken below the Support at 1.0100 metioned earlier. 1.0050-30 is the next significant Support region to be watched for, a strong break below which might see further dip towards 0.9980-50 in the coming sessions. Any sharp upmove is not looking likely now as the pair is remaining strong on the downmove and we expect the downtrend to

Gold Daily Technical Outlook

contact@oilngold.com (Oil N' Gold) — Mon, 23 Nov 2009 11:27:56 GMT

Comex Gold (GC) Gold's rally resumed by taking out 1153.4 and reaches another record high of 1167.8. Short term target of 161.8% projection of 985.5 to 1072 from 1026.9 at 1166.9 is met but there is not sign of topping yet. Short term outlook will remain bullish as long as 1132.5 support holds. Sustained trading above 1166.9 will target 1200 psychological resistance next. On the downside, below 1132.5 will indicate that a short term top is formed, possibly with bearish divergence condition in

Weekly Technical Commentary

Nicole.Elliot@mhcb.co.uk (Mizuho Corporate Bank) — Mon, 23 Nov 2009 10:32:42 GMT

USD/JPY Chart Levels: Support 88.50..88.00..87.00..85.00. Resistance 89.75..90.62..91.34..92.33 Moving at a snail’s pace but nevertheless the trend to generalised US dollar weakness is underway. Which currency will lead is unclear though for dollar/yen we continue to favour a series of cautious downside tests of key support between 87.00 and 1995’s 85.00 (below which it spiked to a low 79.75 over a three month period only). The slower the move, the longer it should last but remember that the

Forex Technical Analysis on Majors

office@deltastock.com (www.deltastock.com) — Mon, 23 Nov 2009 10:27:25 GMT

EUR/USD Current level-1.4975 EUR/USD is in a broad consolidation, after bottoming at 1.2331 (Oct.28,2008). Technical indicators are neutral, and trading is situated above the 50- and 200-Day SMA, currently projected at 1.4793 and 1.3523. Last week's test of 1.4796 support failed and this time a bottom has been confirmed at 1.4801, that should start the expected upmove for new highs beyond 1.5063. Intraday bias is positive for a break through 1.4990, en route to 1.5063 with

The USD/JPY trades near flat of around 88.82 after opening at 88.84

info@varengold.de (Varengold Wertpapierhandelsbank AG) — Mon, 23 Nov 2009 10:15:41 GMT

Good morning to our Daily FX Comment. We hope you had a nice weekend and you were able to start well-rested into a new hopefully exciting FOREX trading week. Today we are going to report about the USD after it dropped against a basket of currencies. Market review The USD dipped for the first time in three days versus the EUR on expectations the Federal Reserve will keep its stimulus measures in place and ensure interest rates remain low. The USD dropped against 15 of its 16 most traded

Range Bound Market...Daily's Still Somewhat Overbought...

info@advicetrade.com (SwingTradeOnline.com) — Mon, 23 Nov 2009 10:02:29 GMT

Market Overview: The daily charts were very overbought a few days ago but selling has taken them down off very overbought to a more neutral position, but if you want to be exact, you could say they're still a bit more on the overbought side. The 60-minute or short-term time frame charts are now very oversold. Three days of selling will do that for sure. This should equate to some move higher early next week but don't expect the moon on any move higher. That isn't likely to take place until we