Intraday Update for EUR/USD, EUR/GBP and GBP/USD

[andy003]

Hi there all traders
Below is the daily intraday Update for EUR/USD, EUR/GBP and GBP/USD
As on Friday 9th January, 2009



I would also like to update this post 3 times a week on Monday, Wednesday and Fridays.

EUR/USD intraday: limited upside.
Pivot: 1.365
Our preference: Long positions above 1.365 with targets @ 1.38 & 1.384 in extension.
Alternative scenario: Below 1.365 look for further downside with 1.3595 & 1.354 as targets.
Comments: the RSI is mixed with a bullish bias.



EUR/GBP intraday: intraday support around 0.8895.
Pivot: 0.8895
Our preference: Long positions above 0.8895 with targets @ 0.9065 & 0.9175 in extension.
Alternative scenario: Below 0.8895 look for further downside with 0.8835 & 0.88 as targets.
Comment: the RSI is supported by a rising trend line.


GBP/USD intraday: further advance.
Pivot: 1.5165.
Our Preference: LONG positions @ 1.5175 with targets @ 1.528 & 1.5375.
Alternative scenario: The downside breakout of 1.5165 will open the way to 1.5075 & 1.5.
Comment: the 30-min RSI & the pair are supported by rising trend lines.
Trend: ST Ltd Upside; MT Bearish

As of today it looks like more of a mixed Friday than a black one.

 

[andy003]

Hi there all traders,

Below is the daily intraday Update for EUR/USD, EUR/GBP and GBP/USD
As on Friday 13th January, 2009

GBP/USD intraday: key ST resistance at 1.4775.
Pivot: 1.4775
Our preference: Short positions below 1.4775 with targets @ 1.4625 & 1.455 in extension.
Alternative scenario: Above 1.4775 look for further upside with 1.483 & 1.49 as targets.
Comment: the pair remains within a bearish channel, the RSI is still on the downside.

EUR/USD intraday: the downside prevails.
Pivot: 1.335
Our preference: Short positions below 1.335 with targets @ 1.32 & 1.312 in extension.
Alternative scenario: Above 1.335 look for further upside with 1.345 & 1.3493 as targets.
Comments: the pair stands within a ST bearish channel, the RSI is capped by a declining trend line and remains badly oriented.


EUR/GBP intraday: the upside prevails.
Pivot: 0.8955
Our preference: Long positions above 0.8955 with targets @ 0.9065 & 0.9113 in extension.
Alternative scenario: Below 0.8955 look for further downside with 0.8902 & 0.883 as targets.
Comment: the pair is on the upside and is challenging its resistance, the RSI is turning up.

Source:http://www.avafx.com/

 

[andy003]

Dear traders
This is the daily intraday Update for EUR/USD, EUR/GBP and GBP/ USD
As on Thursday 15th January, 2009 from AVAFX

EUR/USD intraday: rebound expected.
Pivot: 1.3095.
Our Preference: LONG positions @ 1.31 with 1.324 & 1.3335 in sight.
Alternative scenario: The downside penetration of 1.3095 will call for 1.305 & 1.297.
Comment: the RSI is well oriented and advocates for a rebound, the pair should post an up move towards its next resistance levels.
Trend: ST Consolidation; MT Bearish

EUR/GBP intraday: the upside prevails.
Pivot: 0.905
Our preference: Long positions above 0.905 with targets @ 0.9175 & 0.93 in extension.
Alternative scenario: Below 0.905 look for further downside with 0.9 & 0.8955 as targets.
Comment: the RSI remains supported by a rising trend line, the pair stands within a bullish channel.


GBP/USD intraday: up turn.
Pivot: 1.4550.
Our Preference: LONG positions @ 1.456 with 1.47 & 1.48 in sight.
Alternative scenario: The downside penetration of 1.455 will call for 1.45 & 1.445.
Comment: the pair is supported by a rising trend line and should rebound as the RSI is on the upside.
Trend: ST Ltd Downside; MT Bearish

 

[andy003]

Hello there all traders
I would like to share the daily intraday Update for EUR/USD, EUR/GBP and GBP/ USD
As on Friday 16th January, 2009 from AVAFX

EUR/USD intraday: continuation of the rebound.
Pivot: 1.3105.
Our Preference: LONG positions @ 1.3109 with targets @ 1.33 & 1.337.
Alternative scenario: The downside penetration of 1.3105 will call for 1.3025 & 1.297.
Comment: the RSI remains well oriented; the pair is on the upside and is challenging its intermediary resistance.
Trend: ST Consolidation; MT Bearish



EUR/GBP intraday: under pressure.
Pivot: 0.9
Our preference: Short positions below 0.9 with targets @ 0.8894 & 0.8845 in extension.
Alternative scenario: Above 0.9 look for further upside with 0.906 & 0.9125 as targets.
Comment: the pair remains on the downside; the RSI is challenging its rising trend line.



GBP/USD intraday: rebound.
Pivot: 1.4680.
Our Preference: LONG positions @ 1.4685 with 1.49 & 1.5 as next targets.
Alternative scenario: The downside penetration of 1.468 will call for a slide towards 1.4625 & 1.455.
Comment: the RSI has broken above its bearish channel upper boundary and advocates for a further bounce.
Trend: ST Ltd Downside; MT Bearish

The top story today is the yen fell for a second day since yesterday against the euro on speculation stock gains and measures to stabilize the U.S. financial forex system will encourage investors to buy higher-yielding assets funded in Japan’s currency.

 

[andy003]

Hi there all traders
Here's the daily intraday Update for EUR/USD, EUR/GBP and GBP/ USD
As on Monday 21stJanuary, 2009 from AVAFX.


Euro/Dollar continued its bearish movement yesterday. The currency couple made a bottom at 1.2853 and closed at 1.2905. On the 4 hour chart it indicated bearish scenario
EUR/USD intraday: under pressure.
Pivot: 1.3030.
Our Preference: SHORT positions @ 1.302 with targets @ 1.285 & 1.275.
Alternative scenario: The upside penetration of 1.303 will call for 1.3135 & 1.322.
Comment: the RSI is turning down, the pair stands below its new resistance and should face a down move towards its previous low.
Trend: ST Consolidation; MT Bearish



The royal pair was able to break the 23.6% correction at 0.9060 influenced technically by the double bottom reversal form after breaking the upper line of the descending channel.
EUR/GBP intraday: the upside prevails.
Pivot: 0.921
Our preference: Long positions above 0.921 with targets @ 0.9328 & 0.94 in extension.
Alternative scenario: Below 0.921 look for further downside with 0.9125 & 0.9053 as targets.
Comment: the pair has rebounded on its support and is challenging its resistance, the RSI is mixed.


Rate fell hard as cross-spreaders sell GBP across the board. Overnight economic news seen as neutral; some news of UK bank downgraded adding pressure.
GBP/USD intraday: key ST resistance at 1.4045.
Pivot: 1.4045.
Our Preference: SHORT positions @ 1.4035 with 1.381 & 1.3625 in sight.
Alternative scenario: The upside penetration of 1.4045 will call for 1.415 & 1.4315.
Comment: the pair has struck against its resistance and should face a further weakness; the RSI is on the downside.
Trend: ST Ltd Downside; MT Bearish


Trade safe

 

[andy003]

Hi there all traders
Here’s the daily intraday Update for EUR/USD, EUR/GBP and GBP/ USD
for Friday 23rd January, 2009

The currency couple corrected upwards since yesterday. The CCI indicator went down of the 100 line on the 1 hour chart, presuming probable decreasing stress.
.EUR/USD intraday: under pressure.
Pivot: 1.3050.
Our Preference: SHORT positions @ 1.3045 with 1.2825 & 1.275 in sight.
Alternative scenario: The upside penetration of 1.305 will call for a rebound towards 1.31 & 1.318.
Comment: the pair is breaking below its ST bullish channel lower boundary and should reach its next support as the RSI is bearish.
Trend: ST Consolidation; MT Bearish



EUR/GBP intraday: the upside prevails.
Pivot: 0.9337
Our preference: Long positions above 0.9337 with targets @ 0.9425 & 0.947 in extension.
Alternative scenario: Below 0.9337 look for further downside with 0.928 & 0.921 as targets.
Comment: the pair is challenging its bullish channel lower boundary; the RSI is on the upside.


After last day’s dramatic intraday recovery in the British pound, the currency is having a tough time extending its profit. Underlining the weak conditions in the UK were more disappointments in economic data.
GBP/USD intraday: the downside prevails.
Pivot: 1.3900.
Our Preference: SHORT positions @ 1.3895 with targets @ 1.37 & 1.362.
Alternative scenario: The upside breakout of 1.39 will open the way to 1.4025 & 1.414.
Comment: the RSI is breaking below its MT rising trend line, the pair is approaching its support.
Trend: ST Ltd Downside; MT Bearish


Trade safe

 

[andy003]

Hi there all traders
Here’s the daily intraday Update for EUR/USD, EUR/GBP and GBP/ USD for Wednesday 28th January, 2009. The 2 day FOCM meeting begins today in Washington.

EUR/USD intraday: the upside prevails.
Pivot: 1.3125.
Our Preference: LONG positions @ 1.3135 with targets @ 1.333 & 1.345.
Alternative scenario: The downside penetration of 1.3125 will call for a slide towards 1.304 & 1.296.
Comment: the RSI is bullish, the pair is on the upside and is challenging its LT declining trend line.
Trend: ST Consolidation; MT Bearish


GBP/USD intraday: continuation of the rebound.
Pivot: 1.4105.
Our Preference: LONG positions @ 1.4115 with 1.44 & 1.455 in sight.
Alternative scenario: The downside breakout of 1.4105 will open the way to 1.4015 & 1.3935.
Comment: the RSI is supported by a rising trend line, the pair stands above its new support and remains well directed.
Trend: ST Ltd Downside; MT Bearish


GBP/USD intraday: continuation of the rebound.
Pivot: 1.4105.
Our Preference: LONG positions @ 1.4115 with 1.44 & 1.455 in sight.
Alternative scenario: The downside breakout of 1.4105 will open the way to 1.4015 & 1.3935.
Comment: the RSI is supported by a rising trend line, the pair stands above its new support and remains well directed.
Trend: ST Ltd Downside; MT Bearish


USD/JPY
Today’s support: - 88.60 and 88.42(main). Break would bring 88.22, where correction is possible. Then 87.98. If a strong impulse, we would see 87.75. Continuation would give 87.30 and 87.02.
Today’s resistance: - 89.64, 90.16, 90.47 and 90.92(main), where a correction may happen. Break would bring 91.13 and 91.46, where also a correction may be. Then 91.77. If a strong impulse, we would see 91.90. Continuation will give 92.18.


DOW JONES INDEX
Today’s support: - 8132.12 and 8075.80 (main), where a delay and correction may happen. Break of the latter will give 8043.68, where correction also can be. Then follows 8032.50. Be there a strong impulse, we would see 8010.06. Continuation will bring 7998.72.
Today’s resistance: - 8236.42 and 8277.37(main), where a delay and correction may happen. Break would bring 8302.50, where a correction may happen. Then follows 8339.23, where a delay and correction could also be. Be there a strong impulse, we’d see 8371.70. Continuation would bring 8416.27 and 8437.46

 

[andy003]

This is the daily intraday Update for GBP/USD,EUR/USD, USD/JPY and DOW JONES INDEX for 30th January 09
GBP/USD
British Pound and US Dollar are in a consolidation after the last optimistic movement. The volatility decreases. Bollinger bands are flat.. Forex Trend daily is in a bearish configuration. The consolidation can carry on. The price should continue to move in Bollinger bands.
Resistances
1.4360 – 1.4435
Supports
1.4200 – 1.4075


EUR/USD
Support for the day: - The main supporting levels are at 1.2870and 1.2832, where alteration is possible. Smash would give 1.2783, where alteration might take place, then follows 1.2756. Smash of the concluding would result in 1.2728. If a strapping impulse, we would see 1.2704. Carry-over will give 1.2676 and 1.2652.

Resistance for the day: - The main resistance levels are at 1.2971 and 1.3005. Smash would give 1.3033, where an alteration is possible, then goes 1.3061. Smash of the concluding would result in 1.3084. If a strapping impulse, we could see 1.3112. Carry-over will give 1.3140 and 1.3161.

USD/JPY
Support for the day: - The main supporting levels are at 89.10, 88.60 and 88.42. Smash would bring 88.22, where alteration might take place, then 87.98. If a strapping impulse, we would see 87.75. Carry-over would give 87.30 and 87.02.

Resistance for the day: - The main resistance levels are at 90.22, 90.47 and 90.92, where an alteration may happen. Smash would bring 91.13 and 91.46, where also a alteration is possible, then 91.77. If a strapping impulse, we would see 91.90. Carry-over will give 92.18.

DOW JONES INDEX
Support for the day: - The main supporting levels are at 8100.03, where a stoppage and alteration may happen. Smash of the concluding will give 8071.77, where alteration also can be, then follows 8050.37. Be there a strapping impulse, we would see 8021.22. Carry-over will bring 7998.72.

Resistance for the day: - The main resistance levels are at 8238.16 and 8277.37, where a holdup and alteration may happen. Smash would bring 8302.50, where an alteration is possible, then follows 8339.23, where a holdup and alteration could also be. Be there a strapping impulse, we would see 8371.70. Carry-over would bring 8416.27 and 8437.46.

 

[Pinalli]

Hi all,

Here are some of my updates and broker trading recommendations.

Monday saw the Euro fall to its weakest level in over two months against the US Dollar on Monday as the Japanese Yen gained across the board as Forex traders moved towards less risky investments on renewed fears about the global recession. Bad data in the labor market and signs that many economies are experiencing severe deflation made some in the market rethink their forecasts for cuts in the European Union’s interest rates even though a majority of analysts believe the European Central Bank is unlikely to lower rates when it meets this week.

The common belief amongst many in the investing and trading arena is that more aggressive rate cuts is necessary in the months to come, however it appears unlikely that the EU will move to do it this week. The European Central Bank (ECB) is expected to keep interest rates at 2 percent when they meet this coming Thursday. There is speculation amongst the broker trading community that they will act in March as growth and inflation continue their slide towards new lows.

JPY

Fears about the overall global economic outlook also affected currencies that as of late, have moved less as a result of the bad data. The New Zealand Dollar hit its lowest level in eight years against the yen as Forex investors seemed to want to lower their risk exposure. The US Dollar also fell against the Yen trading down over ½ of a percent to 89.37 although Forex brokers seemed cautious about telling their clients to push the Yen higher as they wait for more information on the pending U.S. plan to clean up debt and recapitalize banks.

EURO

The Euro fell against the US Dollar to 1.2706, the lowest point for the Euro since early December as anxiety about Europe's bad economy weighed heavily on investors’ minds. The Euro also posted losses to the Yen, down over 1% to 114.12.

AUD

The Australian Dollar fell to a two-month low against the US Dollar to just below 0.6300 as a weak showing in the Australian housing data released early Monday, reinforced expectations of a large interest rate cut on Tuesday. Analysts expect the Reserve Bank of Australia to cut its key lending rate down to 3 ¼%, a drastic 100 basis points drop.

NZD

The New Zealand dollar fell almost 2% against the US Dollar trading as low as $0.5016, a six-year low New Zealand wage growth eased from record levels in the fourth quarter, data showed on Monday, leaving the way open for the New Zealand Central Bank to cut their rates even more.

 

[andy003]

Intraday Update for EUR/USD, USD/JPY and DOW JONES INDEX

the daily intraday Update for EUR/USD, USD/JPY and DOW JONES INDEX for Wednesday 04 February,09..
February 04, 2009

EUR/USD

Support for the day: - The main supporting levels are at 1.2946 and 1.2916, where alteration is possible. Smash would give 1.2880, where alteration might take place, then follows 1.2856. Smash of the latter would outcome in 1.2830. If a strapping impulse, we would see 1.2782. Carry-over will give 1.2758 and 1.2736.

Resistance for the day: - The main resistance levels are at 1.3050 and 1.3084. Smash would give 1.3111, where an alteration is possible, then goes 1.3136. Smash of the latter would result in 1.3161. If a strapping impulse, we would see 1.3182. Carry-over will give 1.3206.

USD/JPY

Support for the day: - The main supporting levels are at 88.60 and 88.42. Smash would bring 88.22, where alteration is possible, then 87.98. If a strapping impulse, we would see 87.75. Carry-over would give 87.30 and 87.02.

Resistance for the day: - The main resistance levels are at 89.64, 90.22, 90.47 and 90.92, where a alteration may happen. Smash would bring 91.13 and 91.46, where also a alteration might take place, then 91.77. If a strapping impulse, we would see 91.90. Carry-over will give 92.18.

DOW JONES INDEX

Support for the day: - The main supporting levels are at 7987.40, 7948.14 and 7920.00, where a holdup and alteration may happen. Smash of the latter will give 7886.22, where alteration can take place, then follows 7860.72. Be there a strapping impulse, we would see 7832.26. Carry-over will bring 7782.18 and 7745.63.

Resistance for the day: - The main resistance levels are at 8153.44, where a holdup and alteration may happen. Smash would bring 8175.92, where a alteration might take place, then follows 8201.27, where a holdup and alteration could also be. Be there a strong impulse, we would see 8225.16. Carry-over would bring 8274.38.

 

[andy003]

Intraday Update for EUR/USD, USD/JPY and DOW JONES INDEX

The daily intraday Update for EUR/USD, USD/JPY and DOW JONES INDEX for Thursday 05 February,09

EUR/USD

Support for the day: - The main supporting levels are at 1.2780 and 1.2758(main), where alteration may happen. Smash would give 1.2736, where also a alteration might take place. Then follows 1.2714. Break of the latter would result in 1.2678. If a strapping impulse, we would see 1.2666. Carry-over would give 1.2654 and 1.2642.
Resistance for the day:The main resistance levels are at - 1.2881 and 1.2915(main). Break would give 1.2933, where a alteration may happen.. Then goes 1.2957. Break of the latter would result in 1.2978. If a strong impulse, we’d see 1.3016. Continuation will give 1.3057 and 1.3106.

USD/JPY
Support for the day:-The main supporting levels are at 89.07, 88.60 and 88.42(main). Smash would give 88.22, where also a alteration might take place. Then 87.98. If a strapping impulse, we would see 87.75.Carry-over would give 87.30 and 87.02.
The main resistance levels are at: - 89.79, 90.22, 90.47 and 90.92(main), where a alteration may happen. Break would bring 91.13 and 91.46,where also a alteration might take place. Then 91.77. If a strapping impulse, we would see 91.90. Continuation will give 92.18.

DOW JONES INDEX

Support for the day: - The main supporting levels are at 7920.00(main), where a holdup and alteration may happen. Smash would bring 7886.22, where also a alteration might take place. Then follows 7860.72. Be there a strapping impulse, we would see 7832.26. Continuation will bring 7782.18 and 7745.63.
The main resistance levels are at : - 8052.19, 8077.50 and 8107.00(main), where a holdup and alteration may happen. Smash would bring 8153.44, where a alteration might take place, then follows 8175.92, where a holdup and alteration could also be. Be there a strong impulse, we’d see 8201.27. Continuation would bring 8225.16 and 8274.38.

 

[andy003]

Intraday Update for EUR/USD,GBP/USD,USD/JPY

This is the daily intraday Update for EUR/USD,GBP/USD,USD/JPY for 6th February,2009
EUR/USD
Euro/Dollar was unable to continue the rising scenario yesterday. The currency couple made a bottom at 1.2762, and closed the day at 1.2789. On the 1 hour chart we can see forming of a secondary increasing channel and the unsuccessful effort for price break of resistance line of the main descending trend. The ascending channel was broken downwards. Signals are descending in the short term with targets towards the region of 1.2690 and remain neutral in the long term. Immediate resistance is seen at 1.2895, followed by 1.3010. The CCI indicator is about to break downwards the 100 line on the daily chart, assuming potential decreasing pressure.
Technical resistance levels: 1.2895 1. 3010 1.3145
Technical support levels: 1.2750 1.2635 1.2515

Trading range: 1.2810 - 1.2745
Trend: Downward
Sell at 1.2796 SL 1.2826 TP 1.2756

GBP/USD
After the indecisive movement on Wednesday, yesterday, Pound/Dollar had a significant increasing momentum. After breaking the 1.4577 resistance, the currency pair made a move upwards to the top 1.4701, and closed the day at 1.4611. Fibonacci levels show that the Cable is in testing phase at 23.7% of the 1.4720 level. Break above this level may lead to a sharp increase. Signals remain ascending in the short term and neutral in the long run. The CCI indicator, however, is in the overbought zone and downwards to the 4 hour chart, assuming potential decreasing pressure with testing of the support 1.4575 and 1.4495.
Technical resistance levels: 1.4500 1.4610 1.4725
Technical support levels: 1.4165 1.4050 1.3890

Trading range: 1.4675 - 1.4750
Trend: Upward
Buy at 1.4687 SL 1.4657 TP 1.4737

USD/JPY
After the break upwards of the triangular formation yesterday Dollar/Yen made a great upward movement. The currency couple reached a peak at 92.20 and closed the day at 91.13. Currently the price is testing the upper trend line, but at the same time, the CCI indicator is in the overbought zone and downwards, signaling for downward pressure. The signals are rising in the short term. The first support level is seen at 90.30. Short term resistance is represented by the 91.50 level, followed by yesterday's top 92.25.
Technical resistance levels: 91.50 92.25 93.80
Technical support levels: 90.30 89.25 87.95

Trading range: 90.95 - 91.60
Trend: Upward
Buy at 91.09 SL 90.79 TP 91.49

 

[andy003]

Intraday Overview for EUR/USD,EUR/GBP and USD/JPY
For 12th February 09

EUR/USD
Day trading :Trading Range
Weekly view : Bullish
Mid Term view: Bearish
Short term target : 1.2953 then 1.2980, perhaps 1.3013
mid term target :1.3095,1.3174, 1.3200 and 1.3471
long term target : 1.2400 and 1.1200
Resistances:1.2938/43, 1.3000 and 1.3072
Supports: 1.2900, 1.2860, 1.2773 and 1.2748


EUR/GBP
Daily view: Bearish
Weekly view: Bullish
Mid term view: Bearish
Short term target:0.8935, 0.8938, 0.8869 and 0.8843
Mid term target:0.9078, 0.9177 and 0.9290
Long term target:0.8222
Resistances: 0.9050, 0.9100, 0.9207 and 0.9501
Major Supports: 0.8900, 0.8800 and 0.8660

USD/JPY
Daily view: Bullish
Weekly view :Bullish
Mid term view: Bearish
Daily target: 90.74, 91.04, 91.39 and 91.75
Mid term target:93.90, 95.50 and 97.26
Long term target : 80.00
Resistances: 90.75, 91.21, 92.10, 92.41 and 94.60
Supports : 89.70, 88.63 and major on 87.10

 

[andy003]

Intraday Overview for EUR/USD,EUR/GBP and USD/JPY
For 16th February 09

EUR/USD
Today’s support: - 1.2678(main), where correction is possible. Break would give 1.2652, where correction also may be. Then follows 1.2623. Break of the latter would result in 1.2594. If a strong impulse, we would see 1.2557. Continuation will give 1.2538.
Today’s resistance: - 1.2826 and 1.2863(main). Break would give 1.2882, where a correction is possible. Then goes 1.2894. Break of the latter would result in 1.2914. If a strong impulse, we’d see 1.2935. Continuation will give 1.2967 and 1.2983.

USD/JPY
Today’s support: - 91.33, 91.11, 90.98 and 90.62(main). Break would bring 90.35, where correction is possible. Then 90.21. If a strong impulse, we would see 89.93. Continuation would give 89.71.
Today’s resistance: - 92.18(main), where a correction may happen. Break would bring 92.38, where also a correction may be. Then 92.66. If a strong impulse, we would see 92.91. Continuation will give 93.16 and 93.31.

DOW JONES INDEX
Today’s support: - 7832.22 and 7818.73(main), where a delay and correction may happen. Break of the latter will give 7792.25, where correction also can be. Then follows 7768.10. Be there a strong impulse, we would see 7742.80. Continuation will bring 7718.60 and 7695.00.
Today’s resistance: - 7944.73 and 7986.91(main), where a delay and correction may happen. Break would bring 8021.23, where a correction may happen. Then follows 8044.72, where a delay and correction could also be. Be there a strong impulse, we’d see 8066.27. Continuation would bring 8100.00 and 8114.06.

 

[andy003]

Intraday Overview for EUR/USD,USD/JPY and DOW JONES INDEX

February 17, 2009

EUR/USD

Support for the day: - The main supporting level is at 1.2594, where alteration is possible. Smash would give 1.2576, where alteration might be possible, then follows 1.2557. Smash of the latter would result in 1.2538. If a strapping impulse, we would see 1.2511. Carry-over will give 1.2480.

Resistance for the day: - The main resistance level is at 1.2693. Smash would give 1.2732, where a alteration is possible, then goes 1.2757. Smash of the latter would result in 1.2781. If a strapping impulse, we would see 1.2826. Carry-over will give 1.2863.

USD/JPY

Support for the day: - The main supporting levels are at 92.14, 91.80, 91.57 and 91.33. Smash would bring 91.11, where alteration is possible, then 90.98. If a strapping impulse, we would see 90.62. Carry-over would give 90.35.

Resistance for the day: - The main resistance levels are at 92.91, 93.16 and 93.48, where a alteration might take place. Smash would bring 93.60, where also a alteration might be possible, then 93.83. If a strapping impulse, we would see 94.06. Carry-over will give 94.25 and 94.46.

DOW JONES INDEX

Support for the day: - The main supporting levels are at 7832.22 and 7818.73, where a holdup and alteration might take place. Smash of the latter will give 7792.25, where alteration may happen, then follows 7768.10. Be there a strapping impulse, we would see 7742.80. Carry-over will bring 7718.60 and 7695.00.

Resistance for the day: - The main resistance levels are at 7944.73 and 7986.91, where a holdup and alteration may happen. Smash would bring 8021.23, where a alteration might take place, then follows 8044.72, where a holdup and alteration could also be. Be there a strapping impulse, we would see 8066.27. Carry-over would bring 8100.00 and 8114.06.

 

[Pinalli]

USD/YEN

The dollar and yen were both up yesterday with recession worries on the minds of traders and investors after newly released data showed that the Japanese economy had fallen off more than expected in the last few months of 2008. Support for both currencies also came after the G& failed to mention anything about currency valuations or volatility nor had they mentioned a possible solution to the current economic crisis.

The Japanese data that was released showed a historical decline in exports which caused their economy to contract by more than 3% from October to December. This was the biggest fall since the 1974 oil crisis. Forex traders believed that it was fear that was dominating investor sentiment and thus supported a rally in the yen and dollar, with very little seen being able to turn that around in the short-term.

EUR/GBP

The euro neared a two month low versus the USD that was first reached in the beginning of February, while the Pound Sterling was coming close to a two week low against the USD. Both currencies were hampered by a increase in risk aversion within the markets as many of the larger European Stocks were declining.

The Euro was also pressured by fresh worries about the Western European banks that are exposed to troubles in Eastern Europe as the S&P rating agency warned it could cut the debt rating of Ukraine based on concerns that they will not be able to refinance. To highlight the issue, government debt within the EU did poorly against other riskier equity funds.

As of 5PM GMT, The euro fell ½ of a percent to 1.281 against the USD, as did the pound to 1.4303. Against the yen, the euro dropped to 117.44 a .33% drop, while the dollar traded flat versus the Japanese currency at 91.67.

Volumes were very thin due to holidays in the United States and Canada.

 

[andy003]

Daily Intraday Update for EUR/USD,USD/JPY and the DOW JONES INDEX

Wednesday, February 18, 2009
EUR/USD
Support for the day: - The main supporting levels are at 1.2557 and 1.2538, where an alteration is possible. Smash would give 1.2511, where alteration might take place, then follows 1.2480. Smash of the latter would result in 1.2455. If a strapping impulse, we would see 1.2426. Carry-over will give 1.2403.

Resistance for the day: - The main resistance levels are at 1.2622, 1.2656 and 1.2693. Smash would give 1.2732, where an alteration might be possible, then goes 1.2757. Smash of the latter would result in 1.2781. If a strapping impulse, we would see 1.2826. Carry-over will give 1.2863.


USD/JPY
Against the euro yen gained in currency trading for a third day on speculation European banks will reveal increasing losses due to the financial crisis in the region.

Support for the day: - The main supporting levels are at 91.80, 91.57 and 91.33. Smash would bring 91.11, where an alteration is possible, then 90.98. If a strapping impulse, we would see 90.62. Carry-over would give 90.35.

Resistance for the day: - The main resistance levels are at 92.72, 92.91, 93.16 and 93.48, where an alteration might be possible. Smash would bring 93.60, where also an alteration may happen, then 93.83. If a strapping impulse, we would see 94.06. Carry-over will give 94.25 and 94.46.

DOW JONES INDEX
Support for the day: - The main supporting levels are at 7542.13 and 7513.00, where a holdup and alteration may happen. Smash of the latter will give 7494.50, where an alteration may happen, then follows 7472.43. Be there a strapping impulse, we would see 7436.30. Carry-over will bring 7412.75 and 7385.62.

Resistance for the day: - The main resistance levels are at 7675.46 and 7708.26, where a holdup and alteration might be possible. Smash would bring 7738.20, where an alteration may take place, then follows 7762.50, where a holdup and alteration could also be. Be there a strapping impulse, we would see 7806.46. Carry-over would bring 7830.33 and 7897.40.

 

[andy003]

Daily Intraday Update for EUR/USD,USD/JPY and the DOW JONES INDEX
Thursday,19th February 09

EUR/USD
Support for the day: - 1.2506(main), where correction is possible. Break would give 1.2480, where correction also may be. Then follows 1.2465. Break of the latter would result in 1.2443. If a strong impulse, we would see 1.2426. Continuation will give 1.2403.
Resistance for the day: - 1.2622, 1.2656 and 1.2693(main). Break would give 1.2732, where a correction is possible. Then goes 1.2757. Break of the latter would result in 1.2781. If a strong impulse, we’d see 1.2826. Continuation will give 1.2863.

USD/JPY
Support for the day: - 93.15 and 92.86(main). Break would bring 92.72, where correction is possible. Then 92.48. If a strong impulse, we would see 92.18. Continuation would give 91.87.
Resistance for the day: - 94.06(main), where a correction may happen. Break would bring 94.25, where also a correction may be. Then 94.46. If a strong impulse, we would see 94.70. Continuation will give 94.93, 95.17 and 95.38.

DOW JONES INDEX
Support for the day: - 7542.13 and 7513.00(main), where a delay and correction may happen. Break of the latter will give 7494.50, where correction also can be. Then follows 7472.43. Be there a strong impulse, we would see 7436.30. Continuation will bring 7412.75 and 7385.62.
Resistance for the day: - 7620.00 and 7675.46(main), where a delay and correction may happen. Break would bring 7708.26 and 7738.20, where a correction may happen. Then follows 7762.50, where a delay and correction could also be. Be there a strong impulse, we’d see 7806.46. Continuation would bring 7830.33 and 7897.40.

 

[andy003]

FOREX-Currency update for the Euro, U.S. Dollar, AUD,NZD & Rupee

The following is combined update for the Euro, U.S. Dollar, AUD,NZD & Rupee

Friday,20th February 09
EURO:
The euro headed for the biggest weekly decline in a month against the dollar on speculation European Central Bank President will signal in a speech today that he may cut interest rates to spur growth.
The 16-nation currency is set for its seventh weekly decline in eight weeks after ECB council member flag the possibility of using unorthodox monetary policy to deal with a deepening recession and the financial system’s meltdown. The yen headed for a fourth weekly drop against the dollar, the longest losing stretch since December 2007, on speculation that demand for the currency as a safe place will decrease.

U.S. DOLLAR:
The Dollar here may rise to a four-month high against the Yen should it close above a neckline at 94.65.The greenback has risen 3.8 percent against the yen this year after a 19 percent decline in 2008, which was the most in more than two decades.

AUD & NZD:
The Australian and New Zealand dollars headed for a second weekly drop against the U.S. currency as concern over banks’ susceptibility to worsening eastern European economies pushed down higher-yielding assets. New Zealand’s dollar dropped for a second day after the Treasury Department said the cash budget deficit was wider than expected at the end of December amidst a decline in tax revenue.


ASIAN MARKET:
Asian currencies advanced for their biggest weekly drop in three months, led by South Korea’s won and Taiwan’s dollar, on concern tumbling exports will drag more of the region’s economies into recession.


RUPEE:
India’s rupee fell, headed for its biggest weekly loss of the year, as a deepening global economic slump saps demand for emerging-market assets. The currency traded near an 11-week low versus the dollar and the Bombay Stock Exchange’s Sensitive Index (SENSEX) was poised for a 7.6 percent weekly drop, its largest slide since December last year.

 

[andy003]

Intraday Outlook for EUR/USD,GBP/USD

Intraday Outlook for EUR/USD,GBP/USD

Tuesday,24th February 09

EUR/USD
EUR/USD Open 1.2674 High 1.2985 Low 1.2663 Close 1.2693

Last week the currency couple reached the lowest level since November 2008, but development of the downward trend did not continue.On the daily charts the Euro sharply corrected upwards at the end of the week, forming a convergence, which may cause growth correction of the currency pair. On the four hour chart there is formed a descending wedge, which is a figure for upward conversion. Short signals are rising with testing of the 1.3000 resistance. Going back under 1.2650 will form decreasing signals.
Resistance levels for the day: 1.3000 1. 3130 1.3255
Technical support levels: 1.2650 1.2540 1.2425

Trading range: 1.2715 - 1.2780
Trend is: Upwards



GBP/USD
GBP/USD Open 1.4452 High 1.4659 Low 1.4368 Close 1.4487

Pound/Dollar continues to trade between 1.4362 and 1.4648, where it meets major difficulties in drilling these levels. Current indicators show a decreasing trend and is expected to take the currency pair to 1.4310 before the impetus towards 1.3950 and 1.3550, while 1.4645 remains unreached. Trading range today is between 1.4395 and 1.4615. The major trend is still descending while 1.5260 remains unreached, with possible short term upward correction, with targets towards 1.4050 and 1.3855.

Resistance levels for the day: 1.4660 1.4785 1.4900
Technical support levels: 1.4365 1.4250 1.4155

Trading range: 1.4480 - 1.4555
Trend is: Upwards


EUR/GBP
EUR/GBP is in an uptrend which support is 0,8715 and resistance is 0,8890. The volatility decreases. Bollinger bands are flat. ForexTrend 1H, 4H (Mataf Trend Indicator) is in a bearish configuration. The price should find a support above 0,8700.

Resistance levels for the day
0,8800 - 0,8890

Supports for the day
0,8715 - 0,8700
Trend is: downwards