The pre-planned breakout variant for sales has been realized with attainment of minimal assumed target. OsMA trend indicator having marked the activity fall of both parties gives grounds to presume range movement of the rate without clearness in a choice
I think that the fall started from 1.5813 (22 May) is developing as a flat correction. In such a case a low below 1.5690 should be expected in wave C. With an eye on this idea I entered short position
The US Dollar climbed against the Japanese Yen last week from 102.73 to 104.38, which are the first support and resistance levels respectively for the currency couple today. The 104.40 level is 61.8% correction of the descent from 105.65 to
In quiet holiday trade EURUSD held support at 1.5750 level and now looks to retest the 1.5800 figure as it continues to consolidate in a narrow range. We remain bullish on the pair with target to be determined later. STRATEGY:
EUR/USD The pair has built a local bottom at 1.5283 and has advanced well beyond 1.5571. Technical indicators are reversed and divergent. The 50- day SMA is currently projected at 1.5631.
To support our technical analysis we will use oscillators such as MACD (Moving Average Convergence Divergence); we see that the selling pressure is losing traction; also we notice that the signal line is pointing to cross the long EMA line
The greenback continued to stay under pressure while commodities climbed higher along with the Euro which now trades comfortably into the 1.57 zone being well supported into the 1.5690-1.5700 zone. Current consolidation within the 100 points range helps the Euro
The British Pound is quiet today against the US Dollar today because of the UK Spring Bank Holiday and the USA Memorial Day. The first resistance for the currency couple today is still the top from 22 May at 1.9850,
EUR/USD The pair has been showing a consistent uptrend since May 8th, and appears that the momentum will probably continue uninterrupted. Last Wednesday the very important key resistance level of 1.5720 was breached and fresh bullish momentum has been injected.
Pattern Main Trend: Up Main Trend Top: None Main Trend Bottom: .9289 Current Pattern: Inside Day indicates impending volatility. Price .9683 Gann Angle Up .9655 Minor Top (05-21-2008) .9585 New York Close .9569 Gann Angle Up .9472 50% Retracement .9429
Pattern Main Trend: Down Main Trend Top: 1.0601 Main Trend Bottom: None Current Pattern: 7 days down Price 1.0625 Main Top (05-08-08) 1.0601 Main Top (05-14-08) 1.0521 Gann Angle Down 1.0505 Gann Angle Down 1.0441 Gann Angle Down 1.0385 Gann
Pattern Main Trend: Up Main Trend Top: 105.44 (05-14-08) Main Trend Bottom: 102.56 (05-12-08) Current Pattern: Rangebound Reversal Bottom 102.72 (05-22-08) Price 105.71 Main Top (5-02-08) 105.44 Main Top (05-14-08) 105.34 Gann Angle Down 104.34 Gann Angle Down 104.11* Gann
Pattern Main Trend: Down Main Trend Top: .7937 (05-06-08) Main Trend Bottom: .7536 (05-15-08) Current Pattern: None Price .8058 Gann Angle Down .8036 Main Trend Top (04-23-08) .7956 .618 Retracement .7937 Main Trend Top (05-06-08) .7900* Gann Angle Down .7976
Markets remain calm with all the major economies out yet today we had statements from ECB president Mr. Jean-Claude Trichet saying that financial markets are still undergoing a heavy correctional move and that the G7 are still concerned about the
Liquidity was reduced today on account of market holidays in the U.K. and U.S. Traders will pay close attention to Germany's consumer price inflation data scheduled to be released tomorrow followed by the flash EMU-15 May CPI rate on Friday.
EurUsd Euro confirmed new uptrend last week. Market could now return up to 1.6000 Pivot point resistance ahead of key resistance 1.6200 market target. On downside, only a return below previous week 1.5400 - 1.5600 trading range would open the
In quiet trading, the euro gained some modest ground on the dollar, reversing most of Thursday's losses. European policymakers seem at ease with the current situation on the forex markets. More sideways trading expected today, as US and UK traders
In a very quiet start to the trading week marked by holidays in UK and US the dollar strengthened somewhat against the majors after taking a beating for most of last week. With US capital markets closed for Memorial day
The Dollar traded near Thursday one-month low against the Euro last Friday on speculation US reports tomorrow will show a slump in home prices accelerated and consumers were the most pessimistic in at least 15 years.
U.S. markets are closed for Memorial Day today. Last week's financial market movements had a tinge of "stagflation" to them as higher oil prices heightened both inflation and growth fears. This week is a relatively light one for U.S. data
