|
Forex Daily Technical Reports
|
Technical analysis is a method of forecasting price movements by looking at purely market-generated data. Price data from a particular market is most commonly the type of information analyzed by a technician. The bottom line when utilizing any type of analytical method, technical or otherwise, is to stick to the basics, which are methodologies with a proven track record over a long period. After finding a trading system that works for you, the more esoteric fields of study can then be incorporated into your trading toolbox.
|
|
Daily Forex Technicals |
Written by FXTimes |
May 10 12 03:25 GMT
|
|
The AUD/USD has been falling precipitously since the RBA cut rates by 50 basis points off the official cash rate, more than the market's expectation of 25bps as seen in the ForexFactory economic calendar. The 5/4 NFP added to USD strength from risk aversion flow. Uncertainty in the eurozone and slowdown in China are also factors that has been weighing on the AUD/USD
|
|
Read more...
|
|
|
Daily Forex Technicals |
Written by Compass Global Markets |
May 10 12 03:17 GMT
|
|
AUD/USD found support during the Asia session with expected buying at 1.0060 with corporate names and option related buying stalling the momentum. However, as the European crisis deepened with Troika cancelling its trip to Greece because of the chaos and Spanish equity markets falling 2.8%, risk aversion rose sharply. AUD crashed through the 1.0060 support to run into a wall of option related protection just ahead of parity, which for now has stopped the decline. A limited bounce has been seen during the US session as intraday speculative names got overly short and were squeezed out. It’s a big day for the local markets with the next round of unemployment figures with expectations that last month’s very surprising numbers of plus 44K will give way to a 5K loss. Whilst we remain a bear on both the data and currency front the employment number of late have been very wild. The detail to watch will be Fulltime against Part-Time! Like always sell on weak bounces!
|
|
Read more...
|
|
Daily Forex Technicals |
Written by Admiral Markets |
May 10 12 03:09 GMT
|
|
Meanwhile the price moves in line with expectations. Presumably, impulse formation c of (y) of [ii] is completed. If this assumption is correct, we can expect a downward price movement in line with the wave formation i of (i).
|
|
Read more...
|
|
Daily Forex Technicals |
Written by Forex.com |
May 10 12 03:01 GMT
|
|
In this week's edition of FX QUANT LAB, one of the major 'risk' proxies came across our radar – AUD/JPY. As a review, these models were built in an effort determine where many of the FX pairs should be trading, thus we continuously monitor currencies which we have deemed to have a stronger degree of explanatory power using our regression analysis (R2), with variables which we see as statistically significant. That said, our proprietary model (with an R2 of 0.9104) suggests AUD/JPY's downside may have come a bit too far too fast, as our findings for 'fair value' suggest it should be trading closer to 81.90 at the moment. Based on present levels, the Aussie Yen is approximately 1.7 standard deviations below this reading.
|
|
Read more...
|
|
Daily Forex Technicals |
Written by Autochartist |
May 10 12 02:48 GMT
|
|
GBP/USD has recently completed the high Clarity Triangle chart pattern identified by Autochartist on the 4-hour charts. The overall Quality of this chart pattern is measured at the 5 bar level as a result of the low Initial Trend (one bar), significant Uniformity (7 bars) and higher Clarity (8 bars). The top of this chart pattern (point A on the chart below) formed when the pair reversed sharply down from the strong resistance level 1.6300. Both of the connecting points of the lower support trendline of this Triangle (points C and D on the chart below) formed when the pair corrected up from the Key Level support at 1.6114 (shown on the second chart below). The pair has recently broken down through the lower support trendline of this Triangle and is expected to fall further toward the Forecast Price 1.6061.
|
|
Read more...
|
|
Daily Forex Technicals |
Written by FXTimes |
May 09 12 15:41 GMT
|
|
Risk aversion continues to reign, and the USD continue to gain across the board, especially against the commodity currencies. The Euro also is pressured by the uncertainty of the Greek election and the relationship between new French president Hollande and German Chancellor Merkel. (Sarkozy has been agreeable to the German-led austerity measures).
|
|
Read more...
|
|
Daily Forex Technicals |
Written by FXTechstrategy |
May 09 12 14:07 GMT
|
|
EURUSD: With EUR on the verge of reversing its Monday gains, the risk is now building up towards the 1.2930/00 levels. Below here will open the door for a run at the 1.2879 level, its Jan 23'2011 low. As long as the 1.3387 level remains as resistance this view remains intact. A decisive break and hold below the 1.2879 level will pave the way for move lower towards the 1.2733 level.
|
|
Read more...
|
|
Daily Forex Technicals |
Written by FXTimes |
May 09 12 13:37 GMT
|
|
The EUR/USD chart in the 1H time-frame shows a market with persistent bearish momentum. The RSI reading has held below 60 and has been able to tag 30. Price action continues to make lower highs and lows. The 5/9 European session saw equities fall, and Spanish yields surged, with 10-year notes pushing above 6.00% see in the daily time-frame below. This represents risk aversion and reflects the markets weighing on the euro.
|
|
Read more...
|
|
Daily Forex Technicals |
Written by FXTimes |
May 09 12 11:42 GMT
|
|
The USD/JPY continues to be bearish and is now cracking the 79.50 pivot. This was a resistance pivot on Oct. 31, 2011, and not really a support factor other than that. Instead, the 79.12, 61.8% retracement level might provide some support. However, the next key level of support is near 78.30. Here, we have the 200-day simple moving average as well as the resistance level for a consolidation from Nov. 2011 through Jan. 2012.
|
|
Read more...
|
|
Daily Forex Technicals |
Written by FXTimes |
May 09 12 11:26 GMT
|
|
The USD/CAD has been putting on strength after finding support at 0.98. The rally has been strong pushing above parity, and nearing the 1.0050 consolidation resistance as we head into the 5/9 US trading session. There are no signs the market is stopping yet, but it will be interesting to see whether the 1.0050 level will hold, especially with Friday’s employment data for Canada a key risk factor for the loonie.
|
|
Read more...
|
|
Daily Forex Technicals |
Written by ZIFX.com |
May 09 12 10:18 GMT
|
|
On Tuesday Dollar/Yen continued trading within narrow almost 40 pip range. The currency couple depreciated from 80.08 to 79.70 yesterday, matching the negative money flow sentiment at almost -16%, closing the day at 79.86. This morning the Dollar lost further ground against the Yen, descending down to 79.60.
|
|
Read more...
|
|
Daily Forex Technicals |
Written by DeltaStock Inc. |
May 09 12 08:37 GMT
|
|
The failure of the recent test at 80.07 signals, that the overall bearish pressure is still intact and I expect a break through 79.63 low to provoke a slide towards 78.30-50 area. Key intraday resistance is projected at 80.07, followed by the upper boundary of the current range at 80.60.
|
|
Read more...
|
|
Daily Forex Technicals |
Written by ZIFX.com |
May 09 12 07:47 GMT
|
|
On Tuesday Pound/Dollar decreased with 80 pips. The Cable depreciated from 1.6195 to 1.6123 yesterday, in converse with the positive money flow sentiment at nearly +12%, closing the day at 1.6155. Today the British Pound is trading quietly, with movements at the lower end of yesterday's range for the time being.
|
|
Read more...
|
|
Daily Forex Technicals |
Written by Dukascopy Swiss FX Group |
May 09 12 07:33 GMT
|
|
Once the initial support line at 1.2964 is breached, EUR/USD currency couple will be targeting 1.2624 next, which is presently guarded by 1.2809. Near-term resistances may be encountered at 1.3081 and 1.3180.
|
|
Read more...
|
|
Daily Forex Technicals |
Written by ICN.com |
May 09 12 07:24 GMT
|
|
In accordance with our yesterday’s proposed scenario, the pair has plummeted re-attacking the key support level at 61.8% Fibonacci of the wave from 1.2625 to 1.3485 as seen on the provided daily chart. Moreover, Stochastic remains negative while moving averages continue covering the pair as well; thus, the bearishness remain favored over intraday basis and focus is now on 76.4% Fibonacci level to be the soft technical target of the bearish outlook . A break below 1.2950 will accelerate the awaited declines.
|
|
Read more...
|
|
Daily Forex Technicals |
Written by Windsor Brokers Ltd |
May 09 12 07:09 GMT
|
|
Upside rejection at 1.3060 zone and quick reversal under 1.3000 handle, confirms the pair being under heavy pressure. Overnight’s easing touched levels just few ticks ahead our initial target and strong support at 1.2953, with negative sentiment setting scope for fresh bear phase. Break below 1.2953 to expose 1.2900 and 1.2875. Potential corrective attempts should be capped at 1.3040/60 are and only clearance of 1.3100 would provide near-term relief.
|
|
Read more...
|
|
Daily Forex Technicals |
Written by Varengold Bank |
May 09 12 06:55 GMT
|
|
Before Alexis Tsipras, leader of Greece's Syriza party, meets with leaders of New Democracy and Pasok, the two Greek parties that supported austerity measures, today, the EUR weakened 0.4 percent to a near three-month low against the JPY. Tsipras, whose Syriza party became second biggest in the Greek elections on the 6th of May, said he would forge ahead with plans to form a coalition government of left-wing parties after he was handed the mandate by President Karolos Papoulias. New Democracy leader Antonis Samaras and former finance minister Evangelos Venizelos, leader of Pasok, rejected Tsipras' ultimatum to send a letter to the European Union revoking their written pledges to implement austerity measures by the time he meets them today in order to discuss a government alliance. Germany's exports are forecasted to have decreased 0.5 percent in March compared to the previous month, before data will be released by the statistics office today.
|
|
Read more...
|
|
Daily Forex Technicals |
Written by ICN.com |
May 09 12 06:44 GMT
|
|
The pair is still stable below the previously breached support level of the ascending channel, around the pivotal support of 128.40. The positivity of momentum indicators supports this level and triggers some fluctuation, while we are still waiting a breach of this level for the downside movement to extend , depending on the consecutive daily closings below the support of the mentioned channel in addition to the resistance formed by SMA 50. Consolidation below 129.75 is important for the suggested bearishness.
|
|
Read more...
|
|
Daily Forex Technicals |
Written by FX Instructor |
May 09 12 06:32 GMT
|
|
The EURUSD continued its bearish momentum yesterday after corrected higher on Monday, closed below 1.3000 and hit 1.2965 earlier today. The bias is bearish in nearest term testing 1.2880 support area. Immediate resistance is seen around 1.3042. A clear break above that area could lead price to neutral zone in nearest term testing 1.3080 – 1.3100 but overall I remain bearish and still prefer to sell on rallies.
|
|
Read more...
|
|
Daily Forex Technicals |
Written by India Forex |
May 09 12 06:31 GMT
|
|
EURUSD: The EUR/USD is currently trading at 1.2976 levels. Euro continued its weak trend as the Greece’s leaders struggle to form a new government, which signals a political uncertainty in the country, raising anxiety among the Euro region. Market will be closely watching the German and French Trade Balance data, which is due to be released later in the day. Strong support is seen at 1.2855 while the resistance comes at 1.3131 levels (21 day EMA). Overall bearish target of 1.30 levels and below. 1-3 Months horizon, bearish range 1.25-1.32 levels. Exporters start covering EUR/INR, since EURUSD is trading below 1.30
|
|
Read more...
|
|
|
<< Start < Prev 1 2 3 4 5 6 7 8 9 10 Next > End >>
|
|
Page 10 of 477 |
Latest in Technical Analysis
|
Forex Brokers
|
