Market Recap
The US dollar was trading firmer against the euro and yen, and is expected to be supported by solid economic data releases, despite Thursday's expected rate hike in the euro zone. The US dollar rallied overnight after strong US consumer confidence, durable good orders and new homes sales data [full report]
EUR/USD (1.1775) Market made a quick attempt above the 1.1800 level and was rejected there. Overall pair is still being capped in a tight range between 1.1810 & 1.1760. Intraday studies are slightly negative for the pair, but given the current lack of direction this is of no help. The [full report]
EUR/USD (1.1809) The upside reached 1.1850, just above the trendline level from the 1.2590 high where resistance was found and pair bounced slightly lower from there, currently holding above the 1.1790 level. Intraday studies are heading lower and the corrective downside should remain limited to 1.1755 before further upside is [full report]
EUR/USD (1.1841) The downside was limited to 1.1780 and market bounced higher, currently heading towards 1.1850 again. Intraday studies are positive for the pair and any downside, if seen, should remain limited to 1.1755 before further upside is seen targeting 1.1905. A break there would see further upside targeting 1.2000 [full report]
EUR/USD (1.1987) Market is still consolidating between the 1.1935 & 1.2035 barriers. Intraday studies are slightly negative and further consolidation/correction is expected to continue with 1.1935 seen as maximum level on the downside. Further upside should follow targeting 1.2060 & 1.2090 next. On the downside, a break below 1.1935 would [full report]
EUR/USD (1.1861) The downside ended at 1.1840 where some corrective upside was seen, currently capped at 1.1885. Intraday studies are oversold and further consolidation/correction is expected before further weakness is seen targeting 1.1810 & 1.1770 next. The upside should remain limited to 1.1890 & 1.1935. Daily studies are on the [full report]
EUR/USD (1.1833) The downside reached 1.1800 where support was found and pair bounced higher but remains capped below the 1.1850 level so far. Intraday studies are oversold and further consolidation/correction is expected before further weakness is seen targeting 1.1800 & 1.1770 next. The upside should remain limited to 1.1890 & [full report]
EUR/USD (1.1869) After some consolidation above the 1.1800 level, market bounced higher and reached 1.1885 which capped further upside so far. Pair has been consolidating just below latter allowing hourly studies to correct from overbought levels. Intraday studies are positive for the pair and further upside is on the cards [full report]
EUR/USD (1.1839) Market has been consolidating for the past week capped in a tight range between 1.1780 & 1.1935. The end of the holidays should see the sideway trading end and with daily studies close to turning positive, further upside is expected shortly with a test of the 1.2025, also [full report]
EUR/USD (1.2074) Market is still consolidating between the 1.2120 & 1.2035 levels which capped further downside three times already. Intraday studies are currently neutral. On the upside a break above 1.2180 would see further upside targeting 1.2135 & 1.2235. On the downside, a break below 1.2035 would see further weakness [full report]
EUR/USD (1.2042) Market was capped at 1.2165, also the trendline level from the 1.2590 level and pair bounced sharply lower from there towards 1.2005 where some corrective rebound was seen. Intraday studies are correcting from oversold levels and further upside is on the cards targeting 1.2065 & 1.2105. Further weakness [full report]
EUR/USD (1.2150) The upside seen from the 1.2005 low was capped at 1.2175, and pair was rejected there, leaving a double top in place. The pullback seen so far should remain limited to 1.2110 & 1.2070 before further upside is seen targeting 1.2180 again. A break above latter would see [full report]
EUR/USD (1.2110) As expected market continued its downside pressure after the failure at 1.2175, and pair reached 1.2070 where support was found. Pair is currently holding above the 1.2100 level and another test of the 1.2180 level is on the cards next. A break above latter would see further upside [full report]
EUR/USD (1.2078) No change in view, market is still trading sideways between 1.2040 & 1.2175. Both intraday and daily studies are slightly negative for the pair however the current lack of follow through on the downside calls for caution. On the upside, a break above 1.2180 would see further upside [full report]
EUR/USD (1.2252) Market failed again to break the 1.2320 level and bounced lower from there however the downside is currently being capped above the 1.2235 level. Intraday studies are heading lower and further downside pressure is not ruled out. The downside should remain limited to 1.2210 & 1.2160. Daily studies [full report]
EUR/USD (1.2157) The consolidation at 1.2065 ended and market bounced higher from there towards 1.2190 where some pullback was seen. The downside was limited to 1.2135 where pair is currently holding as intraday studies correct from overbought levels. Another test of the 1.2225 level is not ruled out and a [full report]
EUR/USD (1.1983) Market bounced from the 1.1920 low and was capped just below the 1.2000 level where pair failed again. Pair is currently trading sideway with the downside limited to 1.1950. Intraday studies are slightly positive for the pair however a break above 1.2015 is needed to see further upside. [full report]
EUR/USD (1.1886) Market made a quick attempt lower at 1.1860 and bounced back to the 1.1900 level where pair is currently holding. Intraday studies are mostly negative and another test of the 1.1860 level is not ruled out. A break there would see further weakness targeting 1.1780 next. On the [full report]
EUR/USD (1.1927) Market made a quick attempt at 1.1975 and bounced lower to the 1.1910 level where pair is currently holding. Intraday studies are heading lower however the downside is expected to remain limited to 1.1900 & 1.1850. Further upside is expected shortly targeting 1.1975 & 1.2000 next. On the [full report]
EUR/USD (1.1905) Market bounced lower but was capped at 1.1860 and pair moved higher again currently holding at the 1.1900 level. Intraday studies are slightly positive however the upside should remain limited for now. On the downside, a break below 1.1850 would see further weakness targeting 1.1780 next. On the [full report]
EUR/USD (1.1839) Market made a new attempt lower but remains capped above the 1.1825 level where pair is currently holding. Intraday studies are slightly negative however a break below 1.1825 & 1.1780 is needed to see further weakness. On the upside, a break above 1.1885 would open way to further [full report]
AUS 3yr Bonds: Hold at 94.65 this week
6 March 2006
Current: 94.70 This week: 94.65/94.80
AUS 3yr bond prices stalled last week and slipped back to 94.69 on Friday night. This action leaves bonds in an ambiguous position.
On the one hand, the chance of a new decline has increased with the [full report]
Current: 0.7330; Range today: 0.7310/0.7370
GMT20:00; 7/3/06
for 8 March 2006
Aussie continued its fall yesterday and breached the previous low at 0.7340 to suggest that a new downward phase is underway. The current drop should extend a little further today, to around 0.7310, to complete the sequence from 0.7485. A [full report]
Current: 0.7330; Range this week: 0.7235/0.7370
The aggressive drop from 0.7488 through 0.7340 yesterday swings the odds in favour of a new decline for the next few months. The character of this new decline should be the same as the past 12 months – a slow and congested move. [full report]
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