Currency Newswire » Currency Pairs

USD/JPY Aiming Higher

admin — Fri, 12 Nov 2010 04:50:44 +0000

The Dollar extended its gains against the Japanese yen, yet the upside remained limited below the Wednesday high, with the pair still struggling with the daily descendant trend line coming from 92.88, June 4th daily high. The hourly chart shows price firm above a slightly bullish 20 SMA acting as dynamic support, while bigger time frames hold its bullish tone.

Read more about USD/JPY…

The Daily Forecaster: GBP/USD

admin — Fri, 12 Nov 2010 04:46:48 +0000

There’s still a risk of seeing 1.6069 but while it holds the outlook is bullish otherwise expect losses

The underlying MT direction is bullish while the daily bias is bullish. Therefore the main risk is higher. Ensure that key support levels hold. Note key resistance levels that would suggest continuation of the bullish move. Consider confirming this with a bullish set up pattern in price or an indicator. Only consider a possible larger reversal lower should key MT support break and is supported by a bearish set up in price or an indicator

Consider buy set ups at: 1.6069-81

Consider sell set ups at: 1.6060 or 1.6254-94

Read more about GBP/USD…

EUR/USD Falls to 1.3600

admin — Fri, 12 Nov 2010 04:44:00 +0000

The Euro continued losing ground against the US Dollar on Friday, favoring further speculative flows into the pair, as the price just landed on a new 5-week low at 1.3601. The current price rebounded to 1.3625.

Jitters on the Irish debt problems are taking their toll on the Euro.

Read more…

GBP/USD Breaks Below 1.6000

admin — Wed, 10 Nov 2010 05:22:56 +0000

GBP/USD fell further to 2-week lows at 1.5952. The pair plummeted almost 200 pips during the American session and is headed toward the third decline in a row, retreating further from 9-month highs. It currently trades at 1.5980/85, 0.97% below today’s opening price.

Read more about GBP/USD…

USD/JPY Eyeing 82.00 Resistance

admin — Wed, 10 Nov 2010 05:17:35 +0000

The Greenback keeps trading close to yesterday’s highs against the Japanese Yen. Despite having fallen toward a session low at the 81.55 area at the beginning of the current Asian session, USD/JPY managed to regain the upside and is headed toward the 82.00 resistance area.

EUR/USD Slips Back Towards Daily Lows

admin — Wed, 10 Nov 2010 05:13:31 +0000

The Euro is faced with further difficulties to sustain buying interest against the US Dollar. After an early acceleration to test support at 1.3735, an upside correction followed, yet faltered at 1.3790. The brief peak at daily highs triggered the bearish trend resumption. At present, the price just set a new low at 1.3734.

According to Sean Lee at Forex Live: “Neither the EUR nor the USD is in great shape at the moment so its a matter of market positioning and flows to determine the short-term trends and ranges.”

Read more about EUR/USD…

USD/JPY Steady

admin — Tue, 09 Nov 2010 00:01:02 +0000

USD/JPY has been able to hold above 81.00 and is currently hovering around 81.15. The pair is trading flat in a calm session and has moved in a 15-pip range in the last hours, between 81.10 and 81.25.

Read more about USD/JPY…

EUR/USD Forex Technical Analysis Round-Up

admin — Mon, 08 Nov 2010 23:57:11 +0000

On Monday, the euro lost ground from it’s high of 1.4285 on Thursday to trade at the 1.3900 level against the U.S. dollar in European morning currency market trading.

As of around 10:50 A.M. GMT, the euro was trading at 1.3920, down 0.98% from its open on the day of 1.4061.

Read more about the Euro…

GBP/USD Could Present Scalping Opportunity

admin — Mon, 08 Nov 2010 18:24:13 +0000

The GBP/USD saw its six day rally come to an end on Friday and emerging concerns that Ireland will be the next Greece helped build upon those losses. The greenback benefitted from a broader flight to safety which gave traders an excuse to take profits. Sterling support has been based on a dimming outlook for quantitative easing from the BoE as improving fundamentals have increased the odds that inflation will remain at elevated levels.

Read more about GBP/USD…

Forex: USD/JPY Nearing 15-Year Low

admin — Thu, 04 Nov 2010 21:33:08 +0000

Despite US indexes soaring to fresh yearly highs, with the DJIA up 175 points and the S&P almost 1.5% higher, the Japanese yen regained the upside against the dollar, with the USD/JPY barely 30 pips away from the 15-year low posted earlier this week. After the FED announced yesterday that they will pump another $600B into the economy, the dollar lost strength across the board.

Read more about USD/JPY…

US Dollar Canadian Dollar Exchange Rate Forecast

admin — Thu, 04 Nov 2010 21:28:56 +0000

Longer-term studies seem to be suggesting that the market is in the process of carving out a major base, with a fresh higher low now sought out by parity ahead of the next major upside extension beyond 1.3000. At this point however, will need to see a break back above 1.0850 to encourage the recovery prospects and accelerate gains. In the interim, any setbacks below parity should be viewed as a formidable opportunity to build on longs, with only a monthly close back below parity giving reason for concern.

The struggles of the U.S. economy has started to weigh on the outlook for Canadian interest rates as the BoC has put the brakes on their tightening policy as they look to assess the impact of weaker demand from its main trading partner on their economy.

Read more about the Canadian dollar…

EUR/USD Retreats

admin — Thu, 04 Nov 2010 21:25:55 +0000

The Euro lost upside momentum during the American session and retreated from 9-month highs at 1.4280 to 1.4185. EUR/USD currently is hovering around 1.4200, almost a hundred pips above the price it had at the beginning of the Asian session.

USD/JPY Update

admin — Wed, 03 Nov 2010 22:21:06 +0000

The dollar strengthened rapidly against the yen earlier today – or perhaps more accurately – the yen weakened a great deal against the dollar.

While some may view the wording of this as meaning the same thing, in this case it is not.

Read more about USD/JPY…

Forex: GBP/USD Unable to Hold Above 1.6100

admin — Wed, 03 Nov 2010 22:18:24 +0000

The Cable jumped to 1.6170 after the FOMC announced the second round of quantitative easing, reaching a fresh 9-month high but reversed sharply and plummeted to 1.6033. GBP/USD recovered afterwards and currently is hovering below 1.6100, around the same price level it had reached before FED’s decision.

Read more about GBP/USD…

EUR/USD Spikes, Then Falls After Fed Announcement

admin — Wed, 03 Nov 2010 22:15:01 +0000

The EUR/USD has spiked as traders anticipating a large move in the Fed’s policy have seen the numbers come out, and are presently expressing their point of view.

The Federal Reserve has said that they plan on an additional $600 Billion in stimulus policy, which is on the low-end of most estimates. The market has shown a rejection of the expansion of the euro, at least for the short time.

Loonie Nearing Bottom of Its Long-Term Range

admin — Wed, 03 Nov 2010 03:06:54 +0000

For the range-bound trader, the USD/CAD pair has been a delight for the last year or so. FX traders love a predictable currency pair, and have found one in the USDCAD.

The pair has been stuck between “parity” and the 1.07 handle since the latter half of 2009, and simply cannot gain traction to get either above or below the out barriers of the above mentioned range.

For FX traders, this is akin to playing a game of “ping-pong”, buy at 1.000 and sell at 1.0700. Set ups like these should be considered working until they stop.

Read more about the Loonie…

Forex: USD/JPY Approaches Daily High

admin — Wed, 03 Nov 2010 03:02:41 +0000

Despite being range bound, USD/JPY has been losing ground against the dollar since the Asian session, having reached an intraday high of 80.95 during American hours; quoting around 80.80 at the time of writing, the pair remains trapped in between 80.30, a 15-year low posted earlier this week, and the 81.00 level.

Read more about USD/JPY…

Forex: GBP/USD is All About the FED Now

admin — Wed, 03 Nov 2010 02:57:41 +0000

The Pound come under pressure this Tuesday after a worse than expected construction PMI in the UK put the UK’s tumbling economic situation back in the spotlight.

“The pair has remained limited below [the] 1.6100 static area, with [the] hourly chart showing indicators mostly flat and bigger time frames turning south.”

Read more about GBP/USD…

EUR/USD Tests Session’s Lows

admin — Wed, 03 Nov 2010 02:52:22 +0000

After the Euro managed to close a daily bar above the 1.4000 level against the Greenback for the first time since October 14, EUR/USD is backing away from highs this Wednesday in Asia as investors remain cautious, squaring positions ahead of the FED monetary decision.

Read more about the Euro…

Commodities Lift Canadian Dollar

admin — Tue, 02 Nov 2010 05:37:45 +0000

The Canadian dollar closed higher Monday, receiving a lift from higher commodity prices even as the U.S. dollar strengthened ahead of an announcement from the U.S. Federal Reserve on new stimulus measures.

The loonie closed up 0.4 of a cent at 98.42 cents (U.S.) at the start of what is likely to be a volatile week with the U.S. midterm elections on Tuesday, the release of the Fed announcement on Wednesday and the October non-farm payrolls report on Friday.

Read more about the Canadian dollar…