DAILY FORECAST FOR USDCHF Bias: While the 1.0665-94 area holds I am more in favor of the uptrend resuming Price stalled at the 1.0694 support to the pip and with an hourly bullish divergence I feel we shall see the uptrend resume. The first attempt may well stall at the 1.0770-98 area ad cause a [...] [...more]
2010-02-26: Bernanke Reaffirms Low Interest RatesRumors of another possible downgrade of Greece by Standard & Poor convinced traders to sell the EUR in favor of higher yielding currencies like the Yen, as well as the EUR’s traditional rival, the USD. But the Dollar’s gains have become muted since Federal Reserve Board Chairman Ben Bernanke continued [...] [...more]
2010-02-26: Bernanke Reaffirms Low Interest RatesRumors of another possible downgrade of Greece by Standard & Poor convinced traders to sell the EUR in favor of higher yielding currencies like the Yen, as well as the EUR’s traditional rival, the USD. But the Dollar’s gains have become muted since Federal Reserve Board Chairman Ben Bernanke continued [...] [...more]
DAILY FORECAST FOR USDJPY Bias: Cautiously, while 89.49 holds I feel we should see extension to 88.33 before a larger correction higher The bounce from the 88.79 low has reached key resistance at 89.50. Cautiously, while this remains intact I feel we should see a return to the 88.79 area, a second (but shallower) correction [...] [...more]
2010-02-25: Forex Market Anticipates the Release of U.S. Unemployment ClaimsThe U.S. Unemployment Claims is the primary publication today that is set to determine the level of the USD when it is released at 13:30 GMT. The other main releases that are set to dominate forex trading, especially for currencies such as the Dollar and EUR [...] [...more]
2010-02-25: Forex Market Anticipates the Release of U.S. Unemployment ClaimsThe U.S. Unemployment Claims is the primary publication today that is set to determine the level of the USD when it is released at 13:30 GMT. The other main releases that are set to dominate forex trading, especially for currencies such as the Dollar and EUR [...] [...more]
DAILY FORECAST FOR AUDJPY Bias: Slightly mixed – waiting for breaks but the underlying risk does still seem lower As opposed to the other JPY crosses this hasn’t made a new low. Having said that it doesn’t look that healthy right now. Only a move back above the 80.37 pivot area would lead the way [...] [...more]
2010-02-24: USD Furthers Gains on EUR ahead of Bernanke TestimonyThe U.S. Dollar saw some major gains on the Euro last night. The pair went as low as 1.3500 before rebounding to its current level of about 1.3540. Today, Fed Chairman Ben Bernanke is scheduled to testify before the U.S. Congress, an event likely to create [...] [...more]
2010-02-24: USD Furthers Gains on EUR ahead of Bernanke TestimonyThe U.S. Dollar saw some major gains on the Euro last night. The pair went as low as 1.3500 before rebounding to its current level of about 1.3540. Today, Fed Chairman Ben Bernanke is scheduled to testify before the U.S. Congress, an event likely to create [...] [...more]
DAILY FORECAST FOR EURJPY Bias: I feel the 122.32-42 (max 122.74) area should hold for losses to 120.69-96 before correcting higher The downside is opening up again though I don’t really see this being strong today. More likely the 122.32-42 (amx 122.74) area will cap for losses back below 122.00 for yesterday’s 121.56 low and [...] [...more]
