EURUSD: Nearer Term Corrective Upside Triggered Off The LT Rising Trendline.EURUSD: Unlike GBP, EUR retained a bullish nearer term tone Wednesday closing higher at 1.4745 and trading higher (1.4807) in early session today. This is coming on the back of a bounce on Tuesday [full report]
USD/JPY 109.09 - 28 August
USD/JPY Open 110.07 High 109.88 Low 108.70 Close 109.51The US Dollar climbed significantly yesterday against the Japanese Yen from Wednesday's bottom 108.70 to the top 109.88, which are the first support and resistance levels respectively for the currency couple today. If the positive trend continues as [full report]
German Unemployment Continues its Decline
DATA GE July Unemployment Rate: 7.3% v 7.3% || Prior revised from 7.3% to 7.4% UK Aug Nationwide House Prices: M/M -1.9% v -1.5%e || Prior revised from -1.7% to -1.5% |||| Y/Y -10.5% v -9.6%eSP Aug Preliminary Harmonized CPI Y/Y; 4.9% v 5.2%eSP June [full report]
EUR/USDUSD/JPY, GBP/USDDaily Analysis28 August 2008Current level-1.4777EUR/USD is in а downtrend from 1.6039 (15 July 2008). Technical indicators are descending and trading is situated below the 50- and [full report]
CHF
The pre-planned short positions from the key resistance range have been realized with attainment of minimal assumed target. OsMA trend indicator having marked the close activity parity of both parties does not give grounds to choose planning priorities for today but taking into account the current stage of bearish development [full report]
euro
The resistance level around the 1.4800 level is still causing the pair to decline and that is what happened today as well. On the short term, we see an ascending channel with a key support at 1.4715-1.4720 and since it reversed from the previously mentioned resistance, we see the pair [full report]
EUR/USD (1.4802)European & US sessions forecast levels: 1.4665/1.4890Trend Sessions: European: Neutral/UpwardUS: NeutralMarket Focus: 8:30 AM Chain Deflator-Prel, GDP-Prel, Initial Claim, 3:55 AM German Unemployment Change, 4:00 AM M3 Money Supply. Daily Strategy: The dollar lose on the market as the Oil drop for forth day due too the tropical storm. [full report]
The proximity of Labor Day weekend surely doesn't make things easier in the currency markets. Nor did the half-baked measures at Fannie Mae. The dollar closed slightly lower against the euro and franc on Wednesday, but basically flat versus the pound and yen. However, trading was quite volatile. The dollar [full report]
USD-CHF @ 1.0911/15... Tight range between 1.0900-1.0950---------------------------------------------------- R: 1.0940-50 / 1.0990 / 1.1000 / 1.1050-60 S: 1.0902-880 / 1.0850 / 1.080 / 1.0770-50The pair has been facing selling pressure near 1.0940-30, however, it has a substantial amount of Support at 1.0900. A break of 1.09, if seen later in the [full report]
A string of poor data releases is likely to keep Sterling under selling pressure in the short term.
Sterling staged a limited recovery in European trading on Wednesday, but was then subjected to renewed selling pressure later in the day. The UK currency failed to reach 1.85 against the dollar and [full report]
The euro rose against the dollar on speculation that the region's interest-rate advantage over the U.S. will draw investors after a European Central Bank official signaled a cut in borrowing costs is unlikely. The euro approached a record high against the British pound after ECB council member Axel Weber said [full report]
Euro: Euro remained highly volatile yesterday as it traded within 131 pips to recover from the day's low of 1.4633 to close 1.4727. The hourly and 4-hourly stochastic is moving towards the overbought region together-with the daily chart indicating buying pressure. Euro is tinkling around the 1.48 (55 4-hourly EMA) [full report]
The Dollar has extended its rally of the past month, touching a 2008 high against a basket of currencies on the view that economic weakness, once US, is spreading globally. A jump in US consumer confidence in August to 56.9 vs 51.9 added to the Dollar advance. US housing data [full report]
Cable is still struggling around mentioned 100% projection of 2.1161 to 1.9337 from 2.0158 at 1.8334. Though, intraday bias remains mildly on the downside as long as 1.8590 minor resistance holds. Sustained trading below 100% projection of 2.1161 to 1.9337 from 2.0158 at 1.8334 will encourage deeper fall to next... [full report]
The euro pared some of its recent sharp losses as an ECB governing council member said the central bank was still not considering interest rate cuts this yearThe dollar was weaker on Wednesday, as oil prices rose ahead of US inventories data and amid concerns that Tropical Storm Gustav could [full report]
USD/CHF's retreat from 1.1083 continues today and outlook remains neutral for the moment. On the upside, sustained trading above 1.0999/1028 resistance zone is needed to confirm recent rally has resumed for next key medium term resistance at 1.1596. On the downside, break of 1.0842 support will indicate that rise from... [full report]
The US Dollar slipped again in Asian trading as influential ECB Board member Axel Weber let the hawkish verbiage fly, stating that any talk of a Euro Zone rate cut was very premature. Also helping to make the Euro the flavor of the day was the continued increase in oil [full report]
DAILY FX FORECASTS
FXDREAM EUR/USDDate: Thu, 28 August 2008 07:30:05Resistance levels: 1.4800/1.4870/1.4900Support levels: 1.4740/1.4670/1.4610/1.4550EUR/USD has risen to 1.4800-10 our target area and earlier today as it was suggsted after pullbackl down to 1.4670 Support on better than expected US Durable Goods numbers yesterday Today focus will be at US GDP numbers [full report]
EUR/USD - Euro DollarShort term (Intraday)1,4783. EUR USD is in an downtrend directed by 4H exponential moving averages. EUR USD is in a consolidation after the last bearish movement. The volatility rises. Bollinger bands are deviated. ForexTrend daily (Mataf Trend Indicator) is in a bearish configuration. 1H, 4H ForexSto (Modified [full report]
EURUSD
The Euro maintains the bid tone after reversing on yesterday at 1.4665. Minor intraday support is now seen at 1.4770/75 backed by 1.4700 and 1.4665, then 1.4570 lower. Resistance is seen at 1.4810 followed by 1.4860 and 1.4900/10. The daily studies are bearish but the current pullback may extend towards [full report]
EUR/JPY
As carry trading transactions were witnessed yesterday, the EUR/JPY pair was able to rebound to close above the 50% correction level at 160.81. Trading for today might witness high levels of volatility as momentum and directional indicators are mixed showing the pair being slightly oversold on some intraday charts while [full report]
Back to the 1.4800 levels; the Euro rose yesterday reaching a high of 1.4746 levels continuing its upside movement today to reach a high of 1.4807, a slight relief for the bears believing that the correction started for the short term in order for them to gain back some of [full report]
USD takes a beating; Oil touches $119/bbl as Gustav approaches Gulf
Forex: The USD extended losses during a quiet Asian session, with traders hearing rumors of Asian central banks buying EUR. The ECB's Weber's comments on Wednesday were quite hawkish, correcting some of the easing expectations in 2009, and further [full report]
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