Dollar/Yen made an indecisive movement on Thursday, forming divergence on the 3 hour chart, than continued descending from the 89.44 top, closing the day at 88.95. On the 1 hour chart quotes made unconvincing break above 89.40, which indicates bulls’ weakness. Therefore our preferable scenario for now is downwards. Middle…
Category Archives: General Forex
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.
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…
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…
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…