Technical Analysis

Mon, 24 Sep 2012 07:41:20 GMT

GBP/USD consolidates at 1.6233

The cable is desperately trying to overcome a major downtrend resistance, but is capped by 1.6233 in conjunction with 1.6300/04. Accordingly, rallies are unlikely to extend beyond these levels, even though GBP/USD may rechallenge them shortly. Still, the long-term outlook is bearish, being that the pair has already reached the upper limit of a downtrend channel it has been trading

Mon, 24 Sep 2012 07:30:35 GMT

EUR/USD struggles at 1.2953

Bearish correction drags on, putting expectations for continuation of a recovery under threat of being shattered. EUR/USD is persistently moving towards an uptrend support line and the 200 day SMA at 1.2802/1.2765. Nevertheless, for now downward momentum is not deemed to be strong enough to violate them, therefore we favour a rebound from there, although the possibility of an alternative

Fri, 21 Sep 2012 19:02:11 GMT

XAU/USD maintains bullish outlook

Today the XAU/USD exchange rate experienced another bullish correction, therefore supporting the interim bullish tendency. At the particular moment the price is heading towards the weekly R1 at 1795, which might bring some bullish impulse. If it fails to stop the uptrend, then next resistance at 1807 (upper Bollinger band) will probably reverse the prevailing bullish trend. Additionally, RSI indicator

Fri, 21 Sep 2012 18:51:11 GMT

GBP/JPY slowly approaching monthly R2 at 128.07

The bearish trend, which started two days ago, was stopped today, as the GBP/JPY currency pair experienced a slight bullish correction, and now the price is slowly approaching the monthly R2 at 128.07, which will probably bring some bearish impetus. However, if it is breached, then the currency couple might reach the upper Bollinger band at 128.51, which is likely

Fri, 21 Sep 2012 18:40:11 GMT

EUR/CAD experiences small bullish correction

Today EUR/CAD experienced a small bullish correction, which stopped the bearish reaction, which occurred yesterday. As for now the price is gradually approaching the monthly R2 at 1.2711, which will probably slow down the prevailing rally. In case it is broken, then the price might advance until the 200-day SMA at 1.2822, which in turn is very likely to bring

Fri, 21 Sep 2012 18:29:11 GMT

EUR/AUD reaches monthly R1 at 1.2404

The downtrend, which started three days ago, managed to continue, and today the EUR/AUD currency couple has already breached the 200-day SMA, and at the particular moment the price is about to test the weekly R1 at 1.2392,which is likely to bring some bullish impulse, however, if it fails to stop the movement downwards, then the price might reach the

Fri, 21 Sep 2012 15:23:05 GMT

NZD/USD returns above 0.83

Pair recovered all of its yesterdays loses and returned above 83 cent mark overnight. Outlook on the pair is positive, and it is likely that due to this gain in momentum pair will continue to appreciate further since the only major resistance level below 0.84 mark is 14th if September high at 0.352.

Fri, 21 Sep 2012 15:22:56 GMT

USD/CAD rebounds from 0.9769

After a week of mild gains pair rebounded from monthly pivot at 0.9769. Despite the signals of technical indicators, this should be just a temporary setback and pair should resume it's recovery after receiving a push from 0.9712.

Fri, 21 Sep 2012 15:22:47 GMT

AUD/USD testing 1.0494/0500

Pair bounced from Fibonacci (38.2% of move since 6th of September) at 1.0446, but after sharp gains is stuck at 1.0494/0500.  Technical indicators point at appreciation of the pair, however it is likely the pair has already reached oversold condition and we might see a strong push down from any indicated resistance levels above the current market price.

Fri, 21 Sep 2012 15:22:37 GMT

EUR/JPY stuck between 101.449 and 101.560

Pair bounced from uptrend resistance (connects July 27th high and 7th of September high) at 1.0149, but did not mange to advance above 200 bar SMA at 102.155 and is currently at Fibonacci (23.6% of move since 24th of September) at 101.560. Technical indicators suggest that pair will appreciate in the near future which is believable due to traders sentiment

Fri, 21 Sep 2012 08:19:10 GMT

USD/CHF is rejected by 0.9328

USD/CHF did not reach out for 0.9400/39, but faltered at 0.9328, from where it may recommence the decline started on July 25. The initial target lies at 0.9253, whereas in the long run the pair is likely to aim for 0.8930/28—this year's lowest value, since this is the path of the least resistance at the moment in the light of

Fri, 21 Sep 2012 08:08:12 GMT

USD/JPY rechallenges 77.99/98

USD/JPY slowly approaches 77.99/98, but should not invade into deeper levels, being that 77.70/49 and 77.21 are formidable supports. They should eventually revive the pair and restore bullish outlook, which is implied by banks' forecasts with the median of 82 in nine months. For now, technical indicators resist this scenario, besides, resistances overhead proved to be strong enough to negate

Fri, 21 Sep 2012 07:57:19 GMT

GBP/USD strains 1.6242

The market appears to respect a downtrend resistance line currently located at 1.6242, though bullish pressure still seems to overpower bids at this level, thus making 1.6300 exposed to risk of being breached in the near term. Subsequent resistances are at 1.6331/66 and 1.6441/43, although the pair did not yet confirm its bullish intentions and is a subject to a

Fri, 21 Sep 2012 07:46:06 GMT

EUR/USD challenges 1.2953

Support at 1.2953 has held the initial test, but will be unable to contain the pair should the attempt to breach it be repeated. In this instance EUR/USD may pull back down to 1.2827/04 (200 day SMA), but will nevertheless remain bullish, as an accelerated uptrend support has not yet been breached and is likely direct the price up to

Thu, 20 Sep 2012 20:32:09 GMT

XAU/USD breaches monthly R2 at 1764

Today the XAU/USD exchange rate experienced a slight bearish reaction, which has already managed to breach the monthly R2 at 1764, and at the particular moment the price faces the weekly PP at 1756, which might bring some bullish impulse. In case it is broken, then the exchange rate might decline until the weekly S1 at 1734, which in turn

Thu, 20 Sep 2012 20:21:09 GMT

GBP/JPY keeps moving downwards

The GBP/JPY currency couple experiences a second consequent bearish reaction, and now the price confronts the 200-day SMA at 126.46, which will probably change the direction of the prevailing tendency, however, in case it is breached, then the price might reach the weekly PP at 125.98, which in turn might stop the movement downwards. Additionally, RSI indicator remains neutral, although

Thu, 20 Sep 2012 20:10:09 GMT

EUR/CAD to test weekly PP at 1.2641

The bullish correction, which occurred yesterday, did not manage to last long, as today EUR/CAD experienced a significant bearish reaction, which has already crossed the monthly R2 at 1.2711, and at the particular moment the currency pair is about to test the weekly PP at 1.2641, which is likely to slow down the downtrend. If it fails to stop the

Thu, 20 Sep 2012 19:59:09 GMT

EUR/AUD remains bearish

The bearish tendency, which started two days ago, successfully managed to decline even further, and now the EUR/AUD currency pair is heading towards the 200-day SMA at 1.2421, which is expected to reverse the prevailing bearish trend. In case it is broken, then the price might reach the 20-day SMA at 1.2337, which might bring some bullish impulse. Moreover, the

Thu, 20 Sep 2012 15:47:19 GMT

NZD/USD dives from 0.83

After few days, of what seemed a start of further appreciation of the pair it received a strong push all the way to 0.825 where it got stuck between Fibonacci (23.6% of move since 5th of September) at 0.8249 and weekly PP at 0.8339 where significant amount of buy orders stopped its further depreciation. Pairs outlook remains negative, however any

Thu, 20 Sep 2012 15:47:12 GMT

USD/CAD testing 0.9792

Pair picks up pace after few slow days as monthly S1 at 0.9769 did not provide strong resistance. However, weekly R1 and 20 bar SMA around 0.98 have paused pairs development. Technical indicators point at upcoming bearish rally on the pair, but as pair seem to be driven purely at traders sentiment it should not experience much difficulties up to

Thu, 20 Sep 2012 15:47:06 GMT

AUD/USD came to a stand still at 1.0392

Although technical indicators point at appreciation of the pair, traders sentiment proves that there is still a lot of uncertainty regarding the pair in the market. It is likely pair will depreciate in the short term, slowly breaching support levels at 1.0392, 1.0375 and 1.0375 where it should it stop and resume it's appreciation.

Thu, 20 Sep 2012 15:46:57 GMT

EUR/JPY rebounded from 200 bar SMA

Pair received a strong push from 200 bar SMA at 102.149 and almost uninterruptedly dropped until it was stopped at psychological level at 101.  Technical indicators on aggregate point at augmentation of the pair and although the stochastic indicator suggest that this bearish correction of the pair is not over yet, it seems that pair is driven by traders sentiment

Thu, 20 Sep 2012 07:52:25 GMT

USD/CHF eyes 0.9328

USD/CHF hesitated at first, but the most recent rebound from 0.9253 is robust and now threatens 0.9328, although the advancement will have a hard time overcoming a cluster of resistances at 0.9400/39, which includes the 200 day SMA and an uptrend support. In case the pair slips, the next support after 0.9253 is at 0.9185/73.

Thu, 20 Sep 2012 07:42:11 GMT

USD/JPY trims gains

Rally beyond resistance at 78.82/96 proved to be unsustainable and USD/JPY quickly returned within the boundaries of a downtrend channel. Now the pair faces support at 77.99/98 and is not expected to overstep additional levels at 77.70/49 and 77.21, near which the price may finally receive bullish impetus, but technical indicators suggest this scenario is to be postponed for now.

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