Daily FX Report

After reaching a low of around 1.77 on November 12th, the GBPAUD started to gain inside a bullish trend channel. Since that time, the market has been moving in a zigzag formation while it gained and touched the resistance level twice at around 1.8175. If the market breaks the lower…

Forex Technical Analysis

EUR/USD is in a broad consolidation, after bottoming at 1.2331 (Oct.28,2008). Technical indicators are neutral, and trading is situated above the 50- and 200-Day SMA, currently projected at 1.4793 and 1.3523.

Technical Analysis Daily: GBP/USD

Pound/Dollar made descending movement on Thursday, as expected, reaching a bottom at 1.6607 and closing the day at 1.6664. On the bigger picture on the 3 hour chart quotes are testing the lower limit of the bullish channel at 1.6280, which indicates a key support level. Our short term expectations…

EURUSD – Upside Seen Above The 1.4736/1.4625 levels

Price hesitation continues to be seen with EUR holding firmly above its LT rising trendline and its major emas. We maintain that while the pair holds above the mentioned support levels chances are for a return to its YTD high at 1.5062 with an eventual break of there creating scope…