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Forex - Technical research
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Wednesday,
26 September 2007,
02:15 GMT
Forexyard Daily Forex research
by Forexyard Research
Forexyard Daily (Technical)
EUR/USD
Today, the 4 Hour chart implies on a possible recovery of the USD when both RSI (78) and Slow Stochastic (crossed at 82) are clearly in overbought territory. The 4 Doji bars imply on an upcoming move and it appears that going long might be preferable.
GBP/USD
The 4 hour chart notes that a tight bearish channel is forming and traders should seek the breakout to get into the market at a good entry point for a long position. However the daily chart indicates a breakout of the bullish channel, supporting the fact that the GBP depreciation would be maintained in the short term.
USD/JPY
The pair is in a bearish formation and the daily studies are strengthening the notion that the pair's direction is down.
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Monday,
24 September 2007,
09:32 GMT
Finotec PR
The Dollar Set New Record Lows Vs the Euro
The dollar tumbled to a record low against the euro on Thursday and hit parity with Canada's currency for the first time since 1976 as investors braced for further Federal Reserve interest rate cuts after this week's sharp reduction. The sell-off s
The Canadian dollar briefly reached parity with the U.S. dollar for the first time in 31 years, supported by lofty commodity prices, a strong domestic economy and concerns
about a U.S. economic slowdown. The dollar fell 1.4 percent against the Canadian dollar and last traded around C$1.0009. "People are convinced the Fed will have to cut by more than 50 basis points," said Matthew Strauss, senior foreign exchange strategist at RBC Capital Markets in Toronto.
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Tuesday,
11 September 2007,
23:05 GMT
Forexyard Daily Forex research
Forexyard Daily / Technical News
EUR/USD
On the 4 Hour chart, a rising wedge is forming which may imply a continuation of the bullish trend. It is recommended to time the entrance to the market with short term charts as 1.3758 seems like a strong entry point. At the moment the EUR/USD is trading around the 1.3720/1.3840 range.
GBP/USD
There is a very channel forming on the 4 Hour chart, as the pair now floats on the bottom level of it. The RSI and Slow stochastic are supporting the bullish notion, and we should see the uptrend continue at a steady pace. The next target price should be around 2.0310.
USD/JPY
USD/JPY is in a downtrend supported by 1Hour exponential moving averages. The volatility is low and the Bollinger bands are tightened.
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Tuesday,
11 September 2007,
21:44 GMT
Forexyard Daily Forex research
Forexyard Daily / Technical News
EUR/USD
The pair is in the middle of a very strong uptrend at the moment, and the breach through the 1.3740 level which was a strong resistance and a key Fibonacci level, indicates that the move is validated and we might see the positive momentum continue to the 1.3900 level. The hourlies are a bit overbought which indicates that buying on dips might be preferable.
GBP/USD
The uptrend the cable is going through seems to be very strong and the daily chart validates that there is still room to run. The 4 Hour chart is confirming that the momentum up is still quite strong and that 2.0400 is a valid next target.
USD/JPY
After touching the 112.80 level for the second time this month, the pair seems to be consolidating around the 113.
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Tuesday,
04 September 2007,
16:35 GMT
Forexyard Daily Forex research
Forexyard Daily / Technical News
EUR/USD
On the 4 H chart we notice that the bearish trend is running ahead. It appears that the pair is going to break the 1.3600 support. The volatility decreased and the EUR USD is consolidating after it broke the 1.3610 support level. The price should continue to move downwards in a range of 1.3630 to 1.3580. As it seems, the bearish pressure will continue to gather momentum.
GBP/USD
The GBP USD is in a bearish configuration. The volatility decreased. The pair moves without trend and swings around exponential moving average (EMA 50 and 100). the pair is now forming a downwards channel with strong resistance at the 2.0145 level. Its recommended to time the entrance to the market with short term charts, 2.
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Sunday,
02 September 2007,
22:35 GMT
GCI Forex Research
Weekly market recap, week ahed, and schedule
The euro depreciated vis-a-vis the U.S. dollar last week as the single currency tested bids around the $1.3560 level and was capped around the $1.3720 level. The pair lost about 50 pips last week. FOMC policymakers reported a “policy response” may be necessary in their 7 August meeting minutes and were still concerned with inflation. Bernanke noted the Fed is “prepared to act as needed” but cautioned the Fed is not designed to bail out lenders and investors. President Bush unveiled a mortgage assistance plan for U.S. homeowners. ECB chief Trichet suggested the ECB will see how the financial markets crisis impacts the markets and then decide on rate hike this month as the ECB “does not precommit” to policy decisions.
• EUR
• JPY
• GBP
• CHF
• CAD
• AUD
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Thursday,
30 August 2007,
16:02 GMT
Forexyard Daily Forex research
Forexyard Daily / Technical News
EUR/USD
Bollinger bands are widened indicating increased volatility. On the 4 H chart the slow stochastic is crossing above 80 indicating that we are in overbought territory but the momentum and RSI are both relatively flat. The hourlies give us a bullish signal with strong positive momentum. The relatively weak bearish 4 H chart and weak bullish 1 H chart give us a strong indication that this pair will range trade today.
GBP/USD
This pair has breached the key 2.0150 resistance level with resilient positive momentum. The RSI and slow stochastic confirm that this move is indeed validated and it is now targeting the significant 2.000 level and we may see it head even further north in the near future.
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