Forex

Posts Tagged ‘rally’

The daily chart shows the EUR/GBP going up against a declining trendline. The market is reacting by pausing the rally at 50% retracement, 0.8350 level. Note the RSI is remaining under 60 for now and is turning lower. The 0.8400 area is 61.8% retracement, and is the resistance zone for

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• EUR/USD: 1.24, 1.19, 1.14 (0)
• Foreign Exchange Market Commentary (0)

With a rally seeing the pair pushing above its minor resistance at the 1.2770 level, its Aug’27’10 high, recovery strength could be developing towards its Aug 18’10 high at 1.2921. Further out, resistance is located at the 1.3332 level with a break resuming its short term uptrend towards its .50.

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• USDJPY: Signs Of Price Exhaustion On The Horizon (0)
• Chart of The Day: GBP/USD (0)

With a rally seeing the pair pushing above its minor resistance at the 1.2770 level, its Aug'27'10 high, recovery strength could be developing towards its Aug 18'10 high at 1.2921. Further out, resistance is located at the 1.3332 level with a break resuming its short term uptrend towards its .50.

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• FX Thoughts for the Day (0)
• Daily Technical Outlook (0)

The downtrend on the EUR/CHF moved sharply lower today as the Swiss Franc gained against all major currencies-and the downtrend on the EUR/CHF shows how much the Franc continues to gain against the Euro. Negative sentiment is established enough that the bears will wait and sell into any rally. Therefore,

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• AUDUSD: Set To Recapture The 0.9277 Level (0)
• EURUSD – Watch The 1.2456/1.2328 Levels, It’s A Big Support Zone (0)

The bullish structure developed well with a pullback from the top of the 1.0610-30 area that provoked the correction back to just above the 1.0560-70 support. This provided the base for a test to the 1.0672 high. I remain bullish but feel we require a correction before the rally can

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• Today’s Market Outlook (0)
• The Daily Forecaster: AUDUSD (0)

As a strong rally saw the pair taking back most of its three-day weakness Monday, risks are now developing for a retarget of the 1.0666 level, its Aug 25'10 high. This view remains valid as long as the 1.0492 level holds as a support. On an eventual break and hold

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• USD/CHF Establishing a Bottom (0)
• EUR/JPY Testing 113.50; The 91.0 Scenario (0)

The EUR/USD completed a negative reversal signal during the European session, ahead of the US session. The slow rally last week from near 1.26 to 1.28 stopped at resistance of 61.8% retracement. The market has been declining since starting this week and looks to continue towards 1.2440. This is a swing projection.

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• Technical Analysis Daily: EUR/USD (0)
• FX Technical Analysis (0)

The USD/CAD has been overbought on the daily chart, with the pair climbing to resistance between 1.0680 and 1.0700. The exhaustion that is expected to stall the rally to this level (and potentially press the USD/CAD lower once again) comes from the distribution market cycle in which the daily chart

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• Currency Technical Report (0)
• Daily Forex Update: AUD/USD (0)

Losses were seen as expected but extended a little lower than expected to the 1.5372 support. The pullback has done the minimum required to provide a complete correction but I'm not 100% convinced that we won't see a second rally to the 1.5495-15 area. From there or a direct

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• Technical Analysis for Crosses (0)
• USD/JPY in Pullback After Breakout (0)

The daily chart shows a scenario similar to that shown on Friday's Weekly Technical Update. The opening session is stalling the rally projected towards 1.0630 area. The RSI is still under 60, but can break above in the next couple of sessions if they are bullish. Let's take a look

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• Daily Technical Outlook (0)
• The Daily Forecaster: GBPJPY (0)