DAILY FORECAST FOR EURUSD Bias: Cautiously I feel we shall see another attempt lower today towards 1.2930-45 & possibly 1.2864 I am cautious with my bearish view because I also feel that the next leg higher should begin at any time. However, this morning’s dip is encouraging and a break below 1.3160-65 would generate a [...] [...more]
Directionally things went pretty much as expected, the Dollar gaining against the Yen but losing out against the European currencies. As for levels where things should have stopped the results were more mixed. The rally in USDJPY is good but we are now left with a decision to make – if this is to continue [...] [...more]
Trade suggestions for the next 24 hours New positions Medium term, sell AUD/USD at 0.7180 target 0.6810 with no stop loss for now Medium term, sell USD/JPY at 99.80 target 97.20 with no stop loss for now Medium term, sell GBP/JPY at 147.10 target 142.20 with a 148.60 stop loss Medium term, sell USD/CAD at [...] [...more]
EURUSD has touched the trend line and started to move up, but this movement was not so strong and most likely support line at 1.3109 will be tested again. Below the trend line 1.3109 next stop will be ~1.2800. If support line will survive next attack, possible strong movement up to the resistance line at [...] [...more]
2009-03-31: Threat of the U.S. Auto Bankruptcy Boosts the DollarTurmoil in the U.S. auto industry had currency traders moving into safe haven positions of the Dollar and Yen. Further equity losses also contributed to a lack of confidence in the global economy and lower risk taking. USDThe Dollar continued its appreciation yesterday as fears of [...] [...more]
2009-03-31: Threat of the U.S. Auto Bankruptcy Boosts the DollarTurmoil in the U.S. auto industry had currency traders moving into safe haven positions of the Dollar and Yen. Further equity losses also contributed to a lack of confidence in the global economy and lower risk taking. EUR/USDThe price of this pair appears to be floating [...] [...more]
DAILY FORECAST FOR USDJPY Bias: While 97.78 supports look for gains close to 98.86 again The 98.30-37 resistance was not touched yesterday and instead we saw losses deepen all the way to the 96.20 support and just below at 95.98. However, this low should now be the spring board for the final rally to the [...] [...more]
Well, so much for expecting a correction before the Dollar made further gains… It made it’s intentions well know early in European trading and blew a hole through all the resistance levels I thought would hold and in many cases extended those gains to the levels that I thought we’d be seeing today or tomorrow. [...] [...more]
30/03/09 Trade suggestions for the next 24 hours New positions Medium term, sell AUD/USD at 0.7180 target 0.6810 with no stop loss for now Medium term, sell USD/JPY at 99.80 target 95.40 with no stop loss for now Medium term, sell GBP/JPY at 147.10 target 142.20 with a 148.60 stop loss Long term, buy GBP/CHF [...] [...more]
2009-03-30: Greenback Rallies on Speculation the ECB will cut Rates to Its Lowest. The Dollar rose 0.2% against the EUR as weaker than expected Euro-Zone industrial orders and German inflation data undermined recent investor confidence and favored the safe haven greenback. The ECB is pressured to follow the Federal Reserve in buying bonds to lower [...] [...more]
