Archive for the ‘Technical Analysis’ Category
New low for the downmove in EUR/USD. The market is extremely oversold but the bears rule and no bottom is visible. The nearest support is @ 1.3850 and it is previous high on weekly charts. A correction is due but if oil breaks below $100 it may be almost impossible. Trade carefully and always place [...]
EUR/USD still looks heavy. The pair is weighed by the lower oil prices and the EUR/JPY sales. The market is extremely oversold and due for correction but it seems impossible at this stage. Probably the big guys will target the option barriers and stops around 1.40 and then will allow any retracement to develop. OPEC [...]
EUR/USD bounced off the 1.4196 support Friday helped by the worse than expected NFP numbers and the rebound in EUR/JPY caused by the US government Fannie, Freddie takeover plan. EUR was knocked down last week buy EUR/JPY sales and it may be helped buy EUR/JPY buying this week. Probably the long awaited correction started and [...]
EUR/USD made new low for the year this morning after huuuuge sell off in Cross/JPY. EUR/JPY made 449 pips trading range, which is the 7-th largest during the last 9 years. Liquidation of large carry trade positions some of which > 500M was the name of the game. Trichet wasn’t hawkish neither dovish and the [...]
Today is the Central banks’ day. At 11:00 GMT BoE will announce its decision while at 11:45 GMT we will have the ECB decision and at 12:30 GMT Mr. Trichet will have press conference. This latter event will be very important for the forex market. If ECB’s boss sounds hawkish the EUR/USD could begin its [...]
US Dollar continues to muscle its way across the board vs Majors and Asian currencies, with EUR, GBP, AUD, NZD, CAD, CHF all falling to day lows. EUR stoploss hit below 1.4450 to fresh 7-month lows of 1.4411. Dealers report bids @ 1.4410/00, but also huge stop loss building below 1.4400/3990. EUR/USD broke below the [...]
EUR/USD made new lows for the current down move, which shows that it may not be over, although the market is oversold. The hurricane Gustav was not as dangerous as it was expected and the oil prices fell to $110-111, which weighed on the euro also. GBP is under renewed preassure after Chancelor darling’s comments [...]
The US Dollar is again the preferred currency today. Cable was weighed by UK Chancellor Darling comments in Guardian on Saturday. This initiated broad USD buying. Large US banking group was active EUR seller as well as Asian , Sovereign, Korea, China accounts. EUR/USD is also weighed by rumours that 1-month 1.50 EUR/JPY puts were [...]
Yesterday the forex market was again more volatile than it is usually. The big guys played all the trick they know to make some money. “Buy the rumor sell the fact” reaction to the much better than expected US GDP numbers was one of the money making clasics. Fears are mounting that Russia may restrict [...]
Interesting developments in EUR/USD these days. Yesterday’s price action confirmed the beginning of a correction of the recent $ strenght. EUR was helped by ECB’s Weber’s hawkish comments about the inflation and rates. EUR/USD must break above 1.4810 for further advance towards 1.4910/15 and 1.5130. Rising tensions in Black Sea, between Russia and US/West over [...]