Category: Forex Trading
The analysis published under this category are as follows.
Friday, September 25, 2009
US Dollar Index, What the Bulls Need To Happen / Currencies / Forex Trading
By: Seven_Days_Ahead
Over the last few months the Dollar Index has been grinding lower, recently reaching a Fibonacci projection we had been looking at. However, there is nothing bullish about the daily chart yet – there are certain hurdles that bulls need to get round before a recovery phase can be trumpeted.
Thursday, September 24, 2009
How to Get Rich Trading Forex- Video / Currencies / Forex Trading
By: INO
I'm not going to say a lot about this new video, but I recommend that you watch it. It's an eye-opener.
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Thursday, September 24, 2009
Euro Drops to Support After Fed Statement Boosts U.S. Dollar / Currencies / Forex Trading
By: ForexPros
As all other majors, the Euro dropped significantly after the Fed, and went back to 1.4685, but it stood its ground and spent the whole Asian session above 1.47. This return could provide us with the chance to retest the falling and broken trendline, inside the rising channel, which is currently at 1.4646, which is the support of the day.Read full article... Read full article...
Wednesday, September 23, 2009
Impact of LIBOR Interest Rate Trends on Currencies / Interest-Rates / Forex Trading
By: Ashraf_Laidi
While FX trading seems to become increasingly bifurcated (broad USD weakness & broad JPY strength or vice versa), the unfolding trend remains a concerted move away from the QE currencies (USD, GBP) and into the commodity/high yielders as well as the EUR. Emerging talk on whether the US dollar has become the new low-yielding vehicle for carry trades financing equities, commodities and currencies vehicle highlights the difference between the USD and JPY carry trades.
Tuesday, September 22, 2009
Strong Euro Dollar Bounces off Support / Currencies / Forex Trading
By: ForexPros
The Euro held around the secondary Fibonacci support of 23.6%, which is in the 1.4620 area, and went back up to above 1.47. The "limited" move of yesterday had "limited" effect. We have re-drawn the channel, to make it comprehensive, and to include all the price behavior since the beginning of the month.
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Monday, September 21, 2009
EUR/GBP Bulls Bolstered By Break of 88.00 Barrier / Currencies / Forex Trading
By: Seven_Days_Ahead
Bulls in EUR/GBP have taken their time to emerge, much of Jun/Jul/Aug marked by a consolidation phase. We had tended towards a positive resolution of this, and there is scope for this cross rate to move higher shorter term.
Monday, September 21, 2009
Euro Dollar at Important Support Level / Currencies / Forex Trading
By: ForexPros
The Euro is approaching at this very moment the bottom of the rising channel on the hourly chart, and in the same area we noticed an intraday support that has shown itself several times lately, which adds more importance to this level. Reaching this area is the most important test for the EURUSD since reaching 1.4766 last Thursday.Read full article... Read full article...
Thursday, September 17, 2009
Euro Dollar Breaks Through Resistance Signaling Powerful Uptrend / Currencies / Forex Trading
By: ForexPros
The euro broke above the rising trend channel for the first time, reaching a new high for this year at 1.4746, and leaving any expectation for a correction to start in these areas, in very bad shape. A break to the upside in a rising channel is usually a signal that shows how powerful the uptrend is, which makes it only logical to expect more gains for the European single currency.Read full article... Read full article...
Tuesday, September 15, 2009
Euro Dollar Continues Top Making Formation / Currencies / Forex Trading
By: ForexPros
The Euro held above the suggested support 1.4501 and rallied to a new top for this trend at 1.4650, which is still inside the suggested area for a top. The top of the channel is currently at 1.4682 and this will be a curtail resistance, that could stop the current rise and force a correction of good size.Read full article... Read full article...
Monday, September 14, 2009
Euro Dollar Corrects After Hitting Resistance / Currencies / Forex Trading
By: ForexPros
As we have expected, the rise stopped between 1.4620 & 1.4667, and from there we have seen a correction that reached 1.4515 until this very moment. We still believe that this correction is targeting 1.4459 at the very least, and that it could go all the way to 1.4357. But, before we feel over-excited for this correction we should see a break of short-term support 1.4501, and after that we can talk about the ideal targets such as 1.4459, 1.4408, or 1.4357.Read full article... Read full article...
Saturday, September 12, 2009
Unusual Currency Market Action as U.S. Dollar Damage Results in Yen Strength / Currencies / Forex Trading
By: Ashraf_Laidi
Current price action in currencies may be sending some interesting signals. Broad dollar damage is being accompanied by broad yen strength, which is an unusual pattern when risk appetite is on the rise. This suggests that dollar weakness is not necessarily a reflection of improved risk appetite but of secular weakness in the greenback (as a result of Chinese gold purchases and most importantly hedge funds testing key dollar support levels vs. EUR (1.4620) GBP (1.67) and AUD (0.8640-50s).
Friday, September 11, 2009
Currency Market Forecasts for U.S. Dollar, Canadian Dollar and Australian Dollar / Currencies / Forex Trading
By: David_Petch
The daily chart of the Canadian dollar index is shown below, with the index in closer proximity to the upper 21 and 34 MA Bollinger bands…not that lower 21 and 34 MA Bollinger bands are in close proximity to the index. This suggests that a breakout to the upside or downside from the consolidation over the past month is probable. The lower 55 MA BB is starting to rise up, suggestive that a decline is probable over the course of the next month.
Friday, September 11, 2009
Fibonacci Projection in EUR/USD Finally Reached / Currencies / Forex Trading
By: Seven_Days_Ahead
For many weeks in the FX Trading Guide we have had a Fibonacci projection marked in on the Daily chart at 1.4545. It has been reached/modestly exceeded this week and we are now waiting to see what reaction now occurs – we have been assuming that a final bull leg was unfolding.
Thursday, September 10, 2009
Euro Dollar Rally Five Wave Mode Rally / Currencies / Forex Trading
By: ForexPros
The rise that we expect to be in a 5-wave mode, is still developing nicely, reaching 1.46 for the first time this year. We still believe it has enough strength to reach the top of the channel, which is slowly approaching 1.47. The resistance which stopped yesterday's rise is actually 1.4592 (yesterday's high was 1.4600), and we will adopt it as resistance of the day.Read full article... Read full article...
Wednesday, September 09, 2009
Euro Dollar Break Major Resistance / Currencies / Forex Trading
By: ForexPros
The 1.4440-1.4450 was broken yesterday as rates pushed above 1.4500. A successful hold above and/or re-test of the 1.4440 level would confirm another swing higher. This is in alignment with the longer term trend.Read full article... Read full article...
Tuesday, September 08, 2009
U.S. Dollar Tumbles as Euro Dollar Breaks Out / Currencies / Forex Trading
By: ForexPros
The Euro has broken the falling trendline from Aug 27th high, and stayed above it the whole time. That is why, there is still a big probability to surpass 1.4405 and head towards areas above 1.45 for the first time this year, where targets such as 1.4510 and 1.4572 are waiting. We need to see a break of the close resistance 1.4346 to increase confidence. If the opposite happens and we break the 1.4302 support, then we will see a correction of Friday's rise, targeting 1.4245 ideally.Read full article... Read full article...
Monday, September 07, 2009
Forex Trading Trend Lines and Channels Attempted Breaks / Currencies / Forex Trading
By: ForexPros
The Euro is trying at this very moment to break the falling trendline from Aug 27th high, which is a trendline that frustrated the Euro on several occasions recently. If it succeeds, there will be a big probability to surpass 1.4405 and head towards areas above 1.45 for the first time this year, where targets such as 1.4510 and 1.4572 are waiting.
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Friday, September 04, 2009
USD/CAD, A Recovery from Fibonacci Support? / Currencies / Forex Trading
By: Seven_Days_Ahead
In early June a recovery attempt proved short-lived, with a new downtrend low made at the start of August. This was just above a long term 61.8% retracement level and support is emerging here. It is worth considering recovery possibilities now.
Thursday, September 03, 2009
Euro Dollar Survives Test of Support, USD/ JPY Remains in Downtrend Channel / Currencies / Forex Trading
By: ForexPros
The Euro survived the test of short-term Fibonacci support, and as we have expected, started a correction move up, without breaking 1.4300, and stopped just 8 pips below what we have called "the most important resistance" in yesterday's report. The above mentioned support at 1.4183 will still be the most important for short-term, because a break here will give way to an attempt to reach a lower bottom, below Aug 17th low 1.4045. On the other hand, EURSUD could continue correcting the last drop, and if this move up is corrective as we suspect, it should not break 1.4300, as we can say that this is the most important resistance for the time being. If broken, this move up cannot be classified as a short-term correction, and it will have the ability to fly above 1.44 before the end of the week.Read full article... Read full article...
Wednesday, September 02, 2009
Euro Dollar and JPY Forex Trading for 2nd Sept 09 / Currencies / Forex Trading
By: ForexPros
The Euro dropped from 1.4376 until it reached and tested Fibonacci 61.8% support for the whole move from 1.4045 to 1.4405. The above mentioned Fibonacci support at 1.4183 will be the most important for the short-term, after it survived yesterday's test (yesterday's low 1.4176) , because a break of this specific support will open the door to a trial to find a new bottom below Aug 17th low 1.4045 within this week. Any attempt to go up will have to break through 1.4252 (short-term 38.2% Fibonacci Resistance), and if this attempt is corrective, it should not go higher than 1.4300, as we can surely say that this is the most important resistance for the moment.Read full article... Read full article...