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Technical analysis 5/01/10 of FXCBS
This is technical daily and provided by specialists and analysts from FXCBS
Tuesday January 5 , 2010
Previous session overview
The euro dollar pair is consolidating between 1.44840 and 1.44050 recording a high of 1.44841 and a low of 1.44050.
Regarding the pound dollar pair, it fell slightly to record a low of 1.60661 and a high of 1.61530, currently the pair is trading around 1.60780.
Finally, the dollar continued to drop against the Japanese yen recording a low of 91.620 and a high of 92.510, and the pair is currently trading around 91.800
Market Expectations
EUR/USD :
The pair Euro against U.S dollar rise during the yesterday's session, today the pair start trading around the resistance point at 1.4462, Stochastic appears saturated in the procurement process which may lead the pair to recoil from that point in a corrective movement to the level 1.43750.
GBP/USD :
Sterling against the U.S. dollar Collide yesterday with the resistance point at 1.62400 , which lead the pair to comes back down to the support point at 1.60650 , Stochastic shows mixed signals on the pair which may lead to the pair to fluctuate in a range trend before making a definite trend for the day.
USD/JPY :
currently expectations are aimed at levels of 90.91 and requires constant trading below 92.55, stochastic show saturation in sales process , which may lead to the pair to do a corrective move before continuing its falling , Monitoring the closure of this day for the level of 90.91 is important for determining the fate of the new short-term trend.
Senior Analyst / Ali Hasan / FXCBS
Forex ECN Broker|Currency Online Trading| Low Spread| Free Trading Software
Technical analysis 6/01/10 of FXCBS
This is Technical analysis daily and provided by specialists and analysts from FXCBS
Wednesday January 6 , 2010
Previous session overview
The euro dollar pair fell slightly recording a low of 1.43330 and a high of 1.43700 at the Asia session, having the euro currency trading around 1.43281. The pair couldn't breach the 1.44600 levels yesterday, and fell back to the 1.43450 levels.
Regarding the pound dollar pair, it breached the 1.60110 levels yesterday and currently the pair is trading around 1.60380, and the high was at 1.43704 and the low was at 1.42832.
Finally, the dollar rallied against the Japanese yen in today's Asian session to offset a sharp decline we witnessed yesterday, and the pair recorded a high of 92.246 and a low of 91.520.
Market Expectations
EUR/USD :
Euro fell against the U.S dollar yesterday to the support level at 1.43450, we expect today that the pair will breakthrough these level to achieve further declines to the new target which is aimed at the point 1.42270, this expectation require stability of trading below the level 1.43450, and we reference to the presence of some saturation in the sales for the pair.
GBP/USD :
Sterling against the U.S. dollar fell yesterday sharply and now approaching the support level at the 1.59250 level of 76.4% Fibonacci, Stochastic appears saturated in sales, which make us expect a correction for the pair before continuing to decline towards to the level 1.57850.
USD/JPY :
The pair U.S dollar against the Japanese yen complete its corrective movement to the level 92.200, we expect now that the pair will return to continues the downside movement to the target level at 90.700, this expectation requires constant of trading below 92.200.
USD/CAD :
We see that the expected direction for today could be bearish, where its main targets reside at 1.03300 followed by 1.02700. Keep in mind that it is vital that 1.04550 remain intact so chances of achieving these expectations prevail, the general trend is to the downside as far as 1.18700.kjlkj
Senior Analyst / Ali Hasan / FXCBS
Forex ECN Broker|Currency Online Trading| Low Spread| Free Trading Software
Technical analysis 7/01/10 of FXCBS
This is Technical analysis daily and provided by specialists and analysts from FXCBS
Thursday January 7 , 2010
Previous session overview
The euro dollar pair fell slightly to record a low of 1.43550 and a high of 1.44450, having the European Union currency trading around 1.43711.
As for the pound dollar the pair declined to record a low of 1.59311 and a high of 1.60573, having the royal currency trading around 1.59486. The pair rose yesterday after reaching the 1.59350 levels where it found a strong support.
Finally, the dollar gained slightly against the Japanese yen to record a high of 92.871 and a low of 92.105 and the pair is currently trading around 92.744.
Market Expectations
EUR/USD :
We expect today to the pair euro against the U.S. dollar down another time to test the support level at 1.42650 and if the pair can breakthrough this support point the price will move towards to the 1.41970, stochastic indicator support these expectations and that requires consistency for trading below 1.44850.
GBP/USD :
Stochastic showing mixed signals, which may lead to fluctuating slightly before continuing to decline toward to the goals referred to earlier at 1.58900 and then further to the level 1.57800 , this expectation requires stable for trading below the resistance level at 1.60550.
USD/JPY :
Stochastic still shows signs of a negative downward spiral for a couple of the U.S. dollar against the yen, which leads us to expect that the trend of the pair still down and we expect to reach the level of 90.900 these expectations necessarily require a constant price below the level of 93.000 and to close four hours candle below this level.
Senior Analyst / Ali Hasan / FXCBS
Forex ECN Broker|Currency Online Trading| Low Spread| Free Trading Software
Forexpros Daily Analysis - 13/01/2010
ForexPros Daily Analysis January 13, 2010
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Fundamental Analysis: Initial Jobless Claims
Traders anticipate the publication of the Initial Jobless Claims report
tomorrow, January 14.
Initial Jobless Claims is a measure of the number of people who file for
unemployment benefits for the first time during the given week.
This data is collected by the Department of Labor, and published as a weekly
report. The number of jobless claims is used as a measure of the health of
the job market, as a series of increases indicates that there are fewer
people being hired.
On a week-to-week basis, claims are quite volatile.
Usually, a move of at least 35K in claims, is required to signal a
meaningful change in job growth.
A higher than expected reading should be taken as negative/bearish for the
USD, while a lower than expected reading should be taken as positive/bullish
for the USD.
Analysts predict no change in the reading which will remain at 434.00K.
---
Euro Dollar
For the second day in a row, the Euro did not create any major or
technically meaningful moves. We maintained a trading range below Monday's
top 1.4555, and above the Asian session bottom for the same day 1.4452. It
seems like this trading range is getting tighter & tighter, which is a price
behavior that usually happens before large moves. The borders of this tight
area are drawn with the two small trend lines on the hourly chart which are
at 1.4531 & 1.4464. Thus, breaking any of these levels will move the Euro in
the direction of the break. If we break the resistance 1.4531 the odds of
going above 1.46 will be high, where the attractive targets 1.4625 & 1.4678
await. But if we break the support 1.4464, the Euro will fall again
targeting 1.4409 first, then 1.4331. And as it is the case with all tight
ranges, it is highly preferred not to take a bias towards any direction
before breaking the limits of the tight range.
Support:
* 1.4485: the trend line that limits the tight area from below.
* 1.4409: Fibonacci 50% for the short term.
* 1.4331: previous well known support/resistance.
Resistance:
* 1.4531: the trend line that limits the tight area from above.
* 1.4625: Nov 3rd low.
* 1.4678: Fibonacci 50% for the medium term.
---
USD/JPY
Exactly as we have expected, Dollar-Yen broke yesterday's support 91.70 and
successfully reached the suggested target 90.76, stopping only 5 pips below
it, before bouncing back above 91. As we can see on the attached chart, this
pair has bumped into a support that caused it to bounce more than 60 pips
until now. Reaching 90.76 is expected to provide a chance to create a
correction for the whole fall from 93.75, which will ideally target 91.87 &
92.59. But before talking about such a correction we should see a break of
short term resistance 91.33. If the price goes back to falling, and break
short term support 90.95, the down trend will continue, and will target
90.35, and later the important 89.79.
Support:
* 90.95: Fibonacci 61.8% for the short term.
* 90.35: support/resistance area on the 4-hour chart.
* 89.79: Fibonacci 61.8% for the whole rise from 87.35 to 93.75.
Resistance:
* 91.33: intraday top.
* 91.87: Fibonacci 38.2% for the whole move down from 93.75.
* 94.62: Fibonacci 61.8% for the whole move down from 93.75.
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Forex Trading Analysis written by Munther Marji for ForexPros.
For information on forex software see ForexPros.
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