FX Thoughts for the Day

The Pound has continued to rise during the day, and has a deep Support region between 1.6325-6270 now. The uptrend is strong. The immediately plausible Resistance seems to be 1.6509, the projected Max High for the Day. If that also breaks, then a further rise towards 1.6616 (projected Max High… Read more….

Market (Lack Of) Action Charts

NYSE volume unchanged from yesterday’s siesta-inspired participation. In bonds, forward curves getting pancaked. The 5 Yr bond has over 2% differential between spot and the 5 year forward. But the biggest action is in the near end: presumably the 3 Month T-Bill will see a 5% ramp up in the next 5 years. And lastly, [...]

FX Thoughts for the Day

Dollar-Swiss has fallen sharply during the day and is likely to take Support near 1.0835 as we see a range of 1.0835-1.0991 over the next couple of days. But if 1.0835 gives away given the weak momentum might it pull it down towards 1.0793-52 during the US session. But this… Read more….

FX Thoughts for the Day

Cable fell and found Support near the 1.5794 region mentioned in the morning. A break of 1.5787-75 is likely to next target 1.55-54. But till the Support at 21-DMA holds, it could just be a profit taking correction correction of the rise that began since 22nd April 09 from 1.4490…. Read more….

Daily FX Report

Since the middle of August the EUR has gained against the USD inside an upward trend channel. It rose with a break through the strong resistance line of 1.3740. However, the market is touching now the lower line of the channel for the third time. If it breaks through the… Read more….

Daily FX Report

The GBP slid against the USD by 0.87 %, the lowest level this month, as traders speculated that U.K.’s Prime Minister Gordon Brown was poised to resign. Due to this fact, the GBP declined versus the EUR to 0.8625 at its lowest level. The Bank of England left its key… Read more….

FX Thoughts for the Day

Aussie, too, has fallen closer to the Projected Max Low for the day at 0.8124. Though there’s Support available next at 0.8100, a break below is likely to target 0.7950 over the course of the week. This is likely to provide ample Support going forward. One might want to look… Read more….

FX Thoughts for the Day

0.8200-25 is the Resistance level that we are looking for in the Aussie at the moment. Any rise above this is likely to be very bullish. The Support at 0.7950-80 that we have been eyeing for sometime continues to hold and is likely to provide some strong Support in the… Read more….

P2 Top is Getting Close

Surprising to hear? Well, if this is a true Intermediate wave (X) triangle then it points the way to the last ABC structure to peak. And it probably is almost finished tracing up “A”. But the banking index may be pointing the way. The banking index has excellent long term Elliott Waves. And it is [...]

FX Thoughts for the Day

Our buy order on Cable got executed as the pair dipped towards 1.6183 and then rose towards 1.6430 during the day as we exited out of the trade at 1.6375. The Resistance at 1.6250-80 that we were eyeing did not hold as the pair went on to retrace the 38.2%… Read more….

FX Thoughts for the Day

Cable has bounced back after recording a low of 1.5853 during the day. Overall the Cable has been oscillating between 1.58-1.61 over the last 5 days. The view continues to be the same as mentioned in the morning. A comprehensive rise past 1.6050-80 is likely to take the pair towards… Read more….

FX Thoughts for the Day

Dollar-swiss has continued to trade within a very narrow range. Dip towards 1.0750-30 over the course of next few days seems imminent at this point, but possibly after some sideways range between 1.0800 and 1.0960. We continue to maintain our limit Sell Order on Dollar-Swiss, as there are equal chances… Read more….

FX Thoughts for the Day

Cable fell to a low of 1.5778 and has bounced from there towards the current levels as the Support at 1.5740-30 was not tested. It may be tested during the US session, a break of which is likely to push it further towards 1.55 over the next few days. On… Read more….

FX Thoughts for the Day

Cable has moved in a narrow band of 100 pips during the day. There’s immediate Resistance at 1.5945 and beyond that it might try to move towards 1.6050 and face strong Resistance there. Here, too, trading is likely to be muted because of holiday in UK and US. Range for… Read more….

FX Thoughts for the Day

Aussie is showing sufficient strength to rise towards 0.7935-40 now having broken past the 0.78 where it is likely to find Resistance at 50% retracement level of the fall from 0.9851 to 0.6007 at 0.7935. The rise during the US session may be restricted to the Projected Max High for… Read more….

FX Technical Commentary

Euro 1.3910 Initial support at 1.3531 (May 19 low) followed by 1.3424 (May 18 low). Initial resistance is now located at 1.3963 (Jan 5 high) followed by 1.4058 (Jan 2 high) Read more….

FX Thoughts for the Day

Cable continues to inch closer to the 200-DMA at 1.5554 as the pair has slipped a bit after touching a high of 1.5537. The crude impact on the pair continues to be visible as the relationship gains strength. A rise past the 200-DMA would be seen to coincide with an… Read more….

Daily FX Report

The currency pair traded in a sideway movement since the beginning of May, but last week it broke through the support at 147.84 and as a implication the GBP/JPY fell below its 144.00 level. At this level the GBP/JPY recovered and rose, close to a bullish trend-line, over its support… Read more….

GBP/USD Sell Recommendation Issued @1.5655 (Daily FX)

Gbp/Usd: With the daily RSI approaching the overbought 70 reading, we do not see gains extending much further and will be looking to establish a counter-trend short on any rallies back above the 200-Day SMA which currently comes in at 1.5555. The pair does have a tendency to overshoot its target and as such, selling [...]

Forex: EUR/USD tests 1.3700 level (The Forex Market)

FXstreet.com (Barcelona) – EUR/USD has risen further after the Portugal’s finance minister comments about Euro Zone is not concerned over a stronger Euro, and the pair has reached 1.3710, fresh 1-week high.

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