Trading Forex Today

[Fxstreet]

Economic Snapshot

Good morning everyone from FXstreet.com. The Crude oil is trading around the $47.8 level, pretty sidewas these days. In the US stock markets, the Dow Jones Industrial Average closed just barely below 10.500, gaining some ground in an uncertain market.

Forex Technicals at a glance

Euro/Usd : At the time of this writing, the pair is trading around the 1.3040 level. It is quite boring to comment the same all over again in this pretty boring trading range (on a daily basis). Therefore, and as I have stated some times before, it is interesting to watch shorter time frames if any trading is wanted. To me, the daily picture is the real one, but looking the intraday time frames if one is a very aggressive trader, may help too. Keep an eye to daily fibo levels for finetuning entry and exit points and also key moving averages, I’m sure they will help. The EUR is shy below the 20-day moving average, keep an eye to that to see wheter it breaks on the upside or not, it may give valuable trend direction for the coming sessions, though the overall picture remains unchanged.
Moving averages overview : EUR has its 200-day moving average today at 1.2537. We have a bearish cross from the 2 shorter moving averages for some time now, with the 20-day crossing down the 50-day.
Indicators watch : Indicators watch-level 1 (signal generator): EUR Neutral, closing short position. Indicators watch-level 2 : EUR Neutral.

Gbp/Usd : At the time of this writing, the pair is trading around the 1.8805 level. The daily formation of the GBP, while above the 20-day moving average, is quite bullish, and due to the fact taht EUR has closed its short signal (indicators watch levle 1) and the GBP has been relatively strong the past sessions, it might lead to think we could see a test of the 50-day moving average. As you may know, I’m inclined to the opposite, and to a test of the 200-day moving average, but both the 50-day moving average and the current downtrend line which today lays around 1.8950, have to prove m y vision right and psuh the pair back down.
Moving averages overview : GBP has its 200-day moving average today at 1.8385. We have the 20-day moving average cross the 50-day on the down for some time now. Pair is above the 20-day, and it is currently trading between them.
Indicators watch : Indicators watch-level 1 (signal generator) : GBP Neutral. Indicators watch-level 2: GBP Positive, showing some strength for the currency for some time now.

Usd/Chf : At the time of this writing, the pair is trading around the 1.1905 level. Well, another day with the USD above the 20-day moving average, but well below the fibo key level for now. The technichal picture ramins in fairly good shape, and moving averages should serve as very strong support if a downmove occurs. In my opinion, the test of the 200-day moving average is on cards while pair trades above the shorter term movings.
Moving averages overview : USD has its 200-day moving average today at 1.2259. The 20-day holds above the 50-day after the bullish cross a few days ago. Pair is trading above them both.
Indicators watch : Indicators watch-level 1 (signal generator) : USD Bullish (signaled long on december 30, 2004). Indicators watch-level 2: USD Neutral.

Eur/Gbp : At the time of this writing, the pair is trading around the 0.6930 level. This is a very clear example of what I stated when talking about the Eur/Usd. Though it has broken, and it is unable to regain, the uptrend channel on a daily basis, pair has today recovered some ground with respect to yesterday’s levels. And a fairly good reason to taht is the bullish signals it had on shorter timeframes, which have provided very good lift and a bit of a relief for the moment.
Moving averages overview : pair has its 200-day moving average at 0.6815 today. The pair is below both its 50-day moving average and its 20-day one, and they are just about to make a bearish cross.
Indicators watch : Indicators watch-level 1 (signal generator) : EUR negative (signaled short on january, 10). Indicators Wacth-level 2 : EUR Neutral.

Indicators watch-Level 1 : Trend indicators Direction, providing some useful investment information.
Indicators watch-Level 2 : Momentum Indicators Direction (working in pairs), providing current market sentiment for the instrument.

 

[Fxstreet]

European Session, 2/2/05

Economic Snapshot

Good morning everyone from FXstreet.com. The Crude oil is trading around the $46.9evel, a dollar lower than its previous close, but while above $46, its outlook is bullish. In the US stock markets, the Dow Jones Industrial Average broker again above 10.500 level, closing around 10.550.

Forex Technicals at a glance

Euro/Usd : At the time of this writing, the pair is trading around the 1.3075 level. The market is waiting for the FOMC rate decision, today at 7:15 PM GMT. Consensus (but not a wide consensus) is on a rate hike of 25bp, leaving rates at 2.50%. I would be very surprised if we see any important moves before that announcement takes place. I would rather say that given the current rangebound trading, a surprise in the announcement could well mark the next move in the currency markets. It has to be said that FOMC decisions have not moved the market as they used to in past times. I’m not saying it is not a market-mover, which would not be true, but I’m just saying that it used to shake markets much more 1-2 years ago. In the case of intraday trading, however, it is quite advisable to stay out of trading today until the data is released, makes trading stressless. Daily picture remains unchanged from previous days on a technical basis.
Moving averages overview : EUR has its 200-day moving average today at 1.2543. We have a bearish cross from the 2 shorter moving averages for some time now, with the 20-day crossing down the 50-day.
Indicators watch : Indicators watch-level 1 (signal generator): EUR Neutral. Indicators watch-level 2 : EUR Neutral.

Gbp/Usd : At the time of this writing, the pair is trading around the 1.8845 level. The pair still trades between the 20 and the 50-day moving averages, sideways for now, but an eye must be kept on the fact that a strong moev on the upside would change its picture dramatically. However, while capped below the 50-day moving average and the current short-term trendline, its outlook is negative.
Moving averages overview : GBP has its 200-day moving average today at 1.8391. We have the 20-day moving average cross the 50-day on the down for some time now. Pair is above the 20-day, and it is currently trading between them.
Indicators watch : Indicators watch-level 1 (signal generator) : GBP Neutral. Indicators watch-level 2: GBP Positive, showing some strength for the currency for some time now.

Usd/Chf : At the time of this writing, the pair is trading around the 1.1875 level. It looks quite discouraging to the USD bulls. The USD is unable to break above, yet again after another failed attempt, the 50% fibo level around 1.1960. That level proves to hold the key of the next move once and again. Pair still trades above its moving averages, but a break is right now needed to prove the USD on a strong uptrend.
Moving averages overview : USD has its 200-day moving average today at 1.2253. The 20-day holds above the 50-day after the bullish cross a few days ago. Pair is trading above them both.
Indicators watch : Indicators watch-level 1 (signal generator) : USD Bullish (signaled long on december 30, 2004). Indicators watch-level 2: USD Neutral.

Eur/Gbp : At the time of this writing, the pair is trading around the 0.6935 level. After breaking the uptrend channel to the downside, the pair is clearly unable to move back up and regain it, and moving aveages just started the bearish cross. To prove the current low of around 0.69 a support for the resume of the uptrend, channel must be regained and the pair should break above moving averages. If not, 200-day moving average magnet could play its role effectively.
Moving averages overview : pair has its 200-day moving average at 0.6816 today. The pair is below both its 50-day moving average and its 20-day one, and they have jus started the bearish cross.
Indicators watch : Indicators watch-level 1 (signal generator) : EUR negative (signaled short on january, 10). Indicators Wacth-level 2 : EUR Neutral.

Indicators watch-Level 1 : Trend indicators Direction, providing some useful investment information.
Indicators watch-Level 2 : Momentum Indicators Direction (working in pairs), providing current market sentiment for the instrument.

 

[Fxstreet]

European Session, 3/2/05

Economic Snapshot

Good morning everyone from FXstreet.com. The Crude oil is trading around the $46.6 level, virtually unchanged with respect to yesterday’s levels. In the US stock markets, the Dow Jones Industrial continued to move higher and closed shy below of 10.600, despite FOMC’s rate increase by 25bp to 2.5%.

Forex Technicals at a glance

Euro/Usd : At the time of this writing, the pair is trading around the 1.3015 level. The single currency reacted somewhat negatively to the interest rake hike in yesterday’s FOMC announcement. The gap between the Eurozone and the US is 0.5% in greenback’s land favour. Not long ago the gap was 1% in Eurozone’s favour. Does this mean anything at all? Well, one’s lecture could be that the US economy is growing at a better and that it presents better fundamentals than Eurozone’s. But things are not that easy, and the reading I myself do of all this is that US economy, despite strong and adverse trade-deficit numbers, it is managing to hold a growth pace we are not seeing in Europe for some time now (Germany at its worst unemployment rate level since world war II ..). Therefore, one could think that this weak-USD policy is more a non-written agreement by politicians in both sides of the Atlantic, rather than a mirror of the real economic fundamentals in both areas. Technically speaking, and on a daily basis, nothing has changed and key levels are still holding for now, but I’m not sure they will hold much longer than the key US unemployment report due out in Friday.
Moving averages overview : EUR has its 200-day moving average today at 1.2548. We have a bearish cross from the 2 shorter moving averages for some time now, with the 20-day crossing down the 50-day.
Indicators watch : Indicators watch-level 1 (signal generator): EUR Neutral. Indicators watch-level 2 : EUR Neutral.

Gbp/Usd : At the time of this writing, the pair is trading around the 1.8855 level. The pair still trades between the 20 and the 50-day moving averages, sideways for now, pretty much in line with the rest of the majors. However, while capped below the 50-day moving average and the current short-term trendline, its outlook is negative.
Moving averages overview : GBP has its 200-day moving average today at 1.8397. We have the 20-day moving average cross the 50-day on the down for some time now. Pair is above the 20-day, and it is currently trading between them.
Indicators watch : Indicators watch-level 1 (signal generator) : GBP Neutral. Indicators watch-level 2: GBP Positive.

Usd/Chf : At the time of this writing, the pair is trading around the 1.1950 level. Keeps playing its own game with the key 50% retracement of the previous downleg level ... Looks like a “funny game”, that I’m pretty sure will end up on Friday. Technically still in good shape but it is unable to gain further out above the before-mentioned level. This could cause a m ajor sell-off if longers get disappointed and abandon the long boat.
Moving averages overview : USD has its 200-day moving average today at 1.2248. The 20-day holds above the 50-day after the bullish cross a few days ago. Pair is trading above them both.
Indicators watch : Indicators watch-level 1 (signal generator) : USD Bullish (signaled long on december 30, 2004). Indicators watch-level 2: USD Neutral.

Eur/Gbp : At the time of this writing, the pair is trading around the 0.6900 level. As presented yesterday, the fact that the pair is unable to re-gain the uptrend channel makes it look weak for the time being. Furthermore, today we have the confirmation of the bearish cross that I told about yesterday. Therefore, selling EUR vs GBP should at least yield some in coming sessions.
Moving averages overview : pair has its 200-day moving average at 0.6817 today. We have the bearish cross from the 2 moving averages confirmed today.
Indicators watch : Indicators watch-level 1 (signal generator) : EUR negative (signaled short on january, 10). Indicators Wacth-level 2 : EUR Neutral.

Indicators watch-Level 1 : Trend indicators Direction, providing some useful investment information.
Indicators watch-Level 2 : Momentum Indicators Direction (working in pairs), providing current market sentiment for the instrument.

 

[Fxstreet]

European Session, 4/2/05

Economic Snapshot

Good morning everyone from FXstreet.com. The Crude oil is trading around the $46.7 level, virtually unchanged with respect to last two days levels. In the US stock markets, the Dow Jones Industrial ended the session virtually unchanged and closed shy below of 10.600. In the economic events territory, we saw a decline in the ISM number, from 63 to 59.

Forex Technicals at a glance

Euro/Usd : At the time of this writing, the pair is trading around the 1.2965 level. The single currency dipped again below the 1.3 level even though we saw a bad ISM number, which reinforces the view that news provide rather volatility than reality. However the move opens the door to a further decline to the 1.2830 region (1.2045-1.3650 50% retracement level), but always after a break of the key 1.2940 area (previous top plus 50% fibo retracement level from 1.2225 – 1.3650). What keeps the situation a tricky one is the fact that CHF (biggest correlated currency to the EUR) did in fact broke some key level to the downside against the USD, but that was not enough readon for the single currency to be dragged lower. Furthermore, today we have the biggest market shaker in economic news : the unemployment report, due at 1:30 PM GMT, and certainly anything can happen, as we all know.
Moving averages overview : EUR has its 200-day moving average today at 1.2553. We have a bearish cross from the 2 shorter moving averages for some time now, with the 20-day crossing down the 50-day.
Indicators watch : Indicators watch-level 1 (signal generator): EUR Neutral. Indicators watch-level 2 : EUR Neutral.

Gbp/Usd : At the time of this writing, the pair is trading around the 1.8810 level. The pair still trades between the 20 and the 50-day moving averages, and moved less abruptly than its fellow european currencies after the release of the ISM number yesterday. The pair held, and now it is trading well above the 50% retracement level of th previous upleg 1.7745-1.9550, situated around 1.8650, and that level could well act as support for now (with the permission of the NFP release today). It has created a very short-term uptrend which lays around 1.8765 today (starting from jan.17 lows). Pair failed, though, to break above the current downtrend line around 1.89 today, so those are the things to watch, plus indicators, to determine a trigger for the next efficient trade.
Moving averages overview : GBP has its 200-day moving average today at 1.8402. We have the 20-day moving average cross the 50-day on the down for some time now. Pair is above the 20-day, and it is currently trading between them.
Indicators watch : Indicators watch-level 1 (signal generator) : GBP Neutral. Indicators watch-level 2: GBP Neutral.

Usd/Chf : At the time of this writing, the pair is trading around the 1.2025 level. Finally! Broke the 50% fibo retracement level from1.2660 – 1.1280 around 1.1960/1.1975 in a consistent way. Well, both the 200-sma and the prevailing downtrend line of the previous upleg look as the target for the current upmove, which is well supported for now, and we’ll see if we today have a fundamental confirmation at 1:30PM GMT. While above 1.16, pair is in positive tone anyway.
Moving averages overview : USD has its 200-day moving average today at 1.2244. The 20-day holds above the 50-day after the bullish cross a few days ago. Pair is trading above them both.
Indicators watch : Indicators watch-level 1 (signal generator) : USD Bullish (signaled long on december 30, 2004). Indicators watch-level 2: USD Neutral.

Eur/Gbp : At the time of this writing, the pair is trading around the 0.6885 level. After breaking the uptrend channel and proving itself unable to regain it, pair is exposed to further weakness with initial support found around 0.6850.
Moving averages overview : pair has its 200-day moving average at 0.6818 today. We have a bearish cross from the 2 moving averages.
Indicators watch : Indicators watch-level 1 (signal generator) : EUR negative (signaled short on january, 10). Indicators Wacth-level 2 : EUR Neutral.

Indicators watch-Level 1 : Trend indicators Direction, providing some useful investment information.
Indicators watch-Level 2 : Momentum Indicators Direction (working in pairs), providing current market sentiment for the instrument.

 

[Fxstreet]

European Session, 7/2/2005

Economic Snapshot

Good morning everyone from FXstreet.com. The Crude oil is trading around the $46 level, keeping its current sideways-to-negative tone valid. In the US stock markets, the Dow Jones Industrial raised after the unemployment was released, closing above the 10.700 level.

Forex Technicals at a glance

Euro/Usd : At the time of this writing, the pair is trading around the 1.2835 level. Pair followed all the warning signals I have been commenting on the longer term charts. As said in previous reports, fx moves aren’t (like in any other financial market) one-way moves, but if the longer term picture is negative, the selling pressure will be stronger than any buying. We had this picture last week, where the single currency managed to hold above the 1.30 level for almost the whole week, even produced some gains in the middle of the week, but then, on Thursday and Friday, the selling pressure from the longer term charts came in and drove the pair below the key levels it had been holding till then. The 200-day daily moving average magnet could play its role now, but one thing has to be clear from now on: the levels we currently are in are attracting long term EUR buyers, who look for 1.40+ in the single currency, despite the longer-term bearish chart picture we have presented here. However, their buying pressure can be both big and well sustained, so one must keep an eye on to that. I expect that pressure to give up once the 200-day moving average is broken down, but that’s far from current levels.
Moving averages overview : EUR has its 200-day moving average today at 1.2561. We have a bearish cross from the 2 shorter moving averages for some time now, with the 20-day down the 50-day.Indicators watch : Indicators watch-level 1 (signal generator): EUR Negative. Indicators watch-level 2 : EUR Neutral.

Gbp/Usd : At the time of this writing, the pair is trading around the 1.8690 level. After breaking the 20-day moving average to the downside, the pair looks very vulnerable again, poised for an eventual break of the good 1.8650 support. If that level is broken, we should see a re-test of the current lows around 1.85. If we consider the lline between october,2004 lows and the recent lows a new uptrend, then we’re just testing it, but with the selling pressure just reinforced by the fact that on Friday the pair tried to break the downtrend line once again (it was around 1.89), and failed, and the resulting daily candle was a very bearish one.
Moving averages overview : GBP has its 200-day moving average today at 1.8410. We have the 20-day moving average cross the 50-day on the down for some time now. Pair is below both of them again.
Indicators watch : Indicators watch-level 1 (signal generator) : GBP Neutral. Indicators watch-level 2: GBP Neutral.

Usd/Chf : At the time of this writing, the pair is trading around the 1.2125 level. The leader (among the majors) of the USD move so far. It broke before the EUR did, followed perfectly Usd/Cad move, and led the other majors to move to the downside against the greenback. It is just shy of the 200-day moving average, so thre we could see some profit taking, helped by some warning signals in the short time frames. However the daily picture looks intact, and will keep that way while above both movings.
Moving averages overview : USD has its 200-day moving average today at 1.2236. The 20-day holds above the 50-day after the bullish cross a few days ago. Pair is trading above them both.
Indicators watch : Indicators watch-level 1 (signal generator) : USD Bullish (signaled long on december 30, 2004). Indicators watch-level 2: USD Neutral.

Eur/Gbp : At the time of this writing, the pair is trading around the 0.6870 level. As stated in the previous report, the 0.6850 magnet had to be tested after the break of the uptrend channel. However, that area is resisting for now and provided a good rebound for the pair, though its daily picture reamins weak so far.
Moving averages overview : pair has its 200-day moving average at 0.6819 today. We have a bearish cross from the 2 moving averages.
Indicators watch : Indicators watch-level 1 (signal generator) : EUR negative (signaled short on january, 10). Indicators Wacth-level 2 : EUR Neutral.

Indicators watch-Level 1 : Trend indicators Direction, providing some useful investment information.
Indicators watch-Level 2 : Momentum Indicators Direction (working in pairs), providing current market sentiment for the instrument.

 

[Fxstreet]

European Session, 8/2/2005

Economic Snapshot

Good morning everyone from FXstreet.com. The Crude oil is trading around the $45.3 level, slipping further and threatening the $45 support. In the US stock markets, the Dow Jones Industrial Average traded in a narrow range, but managed to close above the 10.700 level for the second straight day.

Forex Technicals at a glance

Euro/Usd : At the time of this writing, the pair is trading around the 1.2765 level. It looks weak at the moment. After breaking the key 1.2940/60 area, it took only 1 session to break the uptrend line one can draw from september, 2004, and the 200-day moving average magnet looks to play a key role for the time being. I don’t rule a real attempt to regain the just-broken trendline, but it definitely looks it won’t be able to do so at the moment. To negate its current (for some time) bearish tone, pair should make a huge comeback and trade above the 50-day moving average, around .13250 today, so USD bulls look much more in control of the situation right now.
Moving averages overview : EUR has its 200-day moving average today at 1.2568. We have a bearish cross from the 2 shorter moving averages for some time now, with the 20-day down the 50-day.Indicators watch : Indicators watch-level 1 (signal generator): EUR Negative. Indicators watch-level 2 : EUR Neutral-negative.

Gbp/Usd : At the time of this writing, the pair is trading around the 1.8555 level. As stated yesterday, it looked like the pair was ready to re-test the support around 1.85. It came close to that level, slipping over 200 pips in a single session yesterday. The only level left (fibonacci terms) for the pair to test (from the previous uptrend, since october, 2004) is the 61.8%, which today coincides with the 200-day moving average, so the magnet could be very strong for the pair to those levels. Also to note the huge sell-off in the pair after loosing the 20-day moving average level just 2 days ago.
Moving averages overview : GBP has its 200-day moving average today at 1.8417. We have the 20-day moving average cross the 50-day on the down for some time now. Pair is below both of them again.
Indicators watch : Indicators watch-level 1 (signal generator) : GBP Negative. Indicators watch-level 2: GBP Neutral-negative.

Usd/Chf : At the time of this writing, the pair is trading around the 1.2215 level. Perfect move. Pair hit the 200-day moving average, and currently is fighting to staty above it, but I think some pause is needed before the next move unfolds, and the clear break of this very good magnet level, which has proved itself once again a very important level to keep an eye when thinking of targets for any particular move. The 20-day moving average could well be the support for the current uptrend for the USD, and trading around it should yield some for now.
Moving averages overview : USD has its 200-day moving average today at 1.2228. The 20-day holds above the 50-day after the bullish cross a few days ago. Pair is trading above them both.
Indicators watch : Indicators watch-level 1 (signal generator) : USD Bullish (signaled long on december 30, 2004). Indicators watch-level 2: USD Neutral-bullish.

Eur/Gbp : At the time of this writing, the pair is trading around the 0.6875 level. The 0.6850 support level is holding so far, and not much more can be added to this pair as of now. Both european currencies are weak at the moment, but if GBP proves to be the weakest, it would prove the current support a very tough one for the coming months.
Moving averages overview : pair has its 200-day moving average at 0.6821 today. We have a bearish cross from the 2 moving averages.
Indicators watch : Indicators watch-level 1 (signal generator) : EUR negative (signaled short on january, 10). Indicators Wacth-level 2 : EUR Neutral.

Indicators watch-Level 1 : Trend indicators Direction, providing some useful investment information.
Indicators watch-Level 2 : Momentum Indicators Direction (working in pairs), providing current market sentiment for the instrument.

 

[Fxstreet]

European Session, 9/2/05

Economic Snapshot

Good morning everyone from FXstreet.com. The Crude oil is trading around the $45.4 level, almost unchanged with respect to yesterday’s levels, and still threatening the $45 support. In the US stock markets, the Dow Jones Industrial Average traded again in a very narrow range, but managed to close above the 10.700 level for the third straight day.

Euro/Usd : At the time of this writing, the pair is trading around the 1.2775 level. Pair is holding above the 1.2730 support, and trading sideways keeping an eye on tomorrow’s economic data (US trade balance), which in current days is a real market shaker. Intraday indicators show the possibility of a rebound for the single currency, however longer term magnets (200-day moving average for example) seem to be ready to play a key role for the next moves.
Moving averages overview : EUR has its 200-day moving average today at 1.2563. We have a bearish cross from the 2 shorter moving averages for some time now, with the 20-day down the 50-day.
Indicators watch : Indicators watch-level 1 (signal generator): EUR Negative. Indicators watch-level 2 : EUR Neutral.

Gbp/Usd : At the time of this writing, the pair is trading around the 1.8575 level. Pair is trading in spikes intraday, but the daily range is being very limited for the past 2 days. It tried to break current support around 1.8520, but regained the level quickly and now is trading safely above it. Intraday sutdies showed yesterday an oversold status for the currency and we there have the reason why the pair is trading and holding arouond current levels, and further gains can’t be ruled out.
Moving averages overview : GBP has its 200-day moving average today at 1.8412. We have the 20-day moving average cross the 50-day on the down for some time now. Pair is below both of them again.
Indicators watch : Indicators watch-level 1 (signal generator) : GBP Negative. Indicators watch-level 2: GBP Neutral.

Usd/Chf : At the time of this writing, the pair is trading around the 1.2180 level. After showing itself unable to break the 200-day moving average, pair is trading sideways-to-the-downside. A move towards the 20-day moving average can’t be ruled out before attempting the break of the 200-day. However, it would be better if pair trades above 1.2050, to keep its current bullish tone. I think we will see an answer to these doubts tomorrow with the release (at 1:30pm GMT) of the US trade deficit.
Moving averages overview : USD has its 200-day moving average today at 1.2235. The 20-day holds above the 50-day after the bullish cross a few days ago. Pair is trading above them both.
Indicators watch : Indicators watch-level 1 (signal generator) : USD Bullish (signaled long on december 30, 2004). Indicators watch-level 2: USD Neutral.

Eur/Gbp : At the time of this writing, the pair is trading around the 0.6855 level. We haven’t yet seen a good move on the upside, after the test of the 0.6850 level. It could weel be broken if tested again. Just to remmeber this is a good support now, and, if broken, the 200-day moving average should be the next to be tested.
Moving averages overview : pair has its 200-day moving average at 0.6819 today. We have a bearish cross from the 2 moving averages.
Indicators watch : Indicators watch-level 1 (signal generator) : EUR negative (signaled short on january, 10). Indicators Wacth-level 2 : EUR Neutral.

Indicators watch-Level 1 : Trend indicators Direction, providing some useful investment information.
Indicators watch-Level 2 : Momentum Indicators Direction (working in pairs), providing current market sentiment for the instrument.

 

[Fxstreet]

European Session, 10/2/2005

Economic Snapshot
Good morning everyone from FXstreet.com. The Crude oil is trading around the $45.7 level, holding above $45 and . In the US stock markets, the Dow Jones Industrial Average dipped below 10.700 (closed around 10.665), taking a breath after the recent 350-points rally. Remember that today, 1:30pm GMT, we have the key US trade deficit number, which is expected to show a good decline with respect to previous month’s.

Forex Technicals at a glance
Euro/Usd : At the time of this writing, the pair is trading around the 1.2790 level. Pair is holding above the 1.2730 support, and trading sideways keeping an eye on today’s economic data (US trade balance). However, while the pair trades below 1.30 is bearish, despite some strength signs in the shorter time frames, which may lead to a short-lived rally if the aforesaid level is not cleared out. Medium term picture remains unchanged.
Moving averages overview : EUR has its 200-day moving average today at 1.2567. We have a bearish cross from the 2 shorter moving averages for some time now, with the 20-day down the 50-day.
Indicators watch : Indicators watch-level 1 (signal generator): EUR Negative (no signal though). Indicators watch-level 2 : EUR Neutral.

Gbp/Usd : At the time of this writing, the pair is trading around the 1.8605 level. I’m keeping a close yen on the pair, because a break above 1.88 would trigger two very strong bullish signals, and would negate its medium term brearish view, at least for the coming days. But don’t forget also that the 200-day moving average magnet is very close to current levels, so what I surely expect with the economic news that are due out today and in the coming days, is a volatility increase for the pair.
Moving averages overview : GBP has its 200-day moving average today at 1.8415. We have the 20-day moving average cross the 50-day on the down for some time now. Pair is below both of them again.
Indicators watch : Indicators watch-level 1 (signal generator) : GBP Negative-Neutral. Indicators watch-level 2: GBP Neutral.

Usd/Chf : At the time of this writing, the pair is trading around the 1.2165 level. After showing itself unable to break the 200-day moving average, pair is trading sideways-to-the-downside yet for another session. A move towards the 20-day moving average can’t be ruled out before attempting the break of the 200-day. However, it would be better if pair trades above 1.2050, to keep its current bullish tone. Having touched the 200-day moving average earlier than its fellow europeans, it may be a strong bullish signal if the level is cleared out.
Moving averages overview : USD has its 200-day moving average today at 1.2231. The 20-day holds above the 50-day after the bullish cross a few days ago. Pair is trading above them both.
Indicators watch : Indicators watch-level 1 (signal generator) : USD Bullish (signaled long on december 30, 2004). Indicators watch-level 2: USD Neutral.

Eur/Gbp : At the time of this writing, the pair is trading around the 0.6875 level. Pair tried to esacpe from the eventual break of the good 0.6850 support, and it indeed rallied towards the 0.69 level, but has proven itself unable to break it, and it is now again threatening the level. The 200-day moving average magnet can’t be ruled out as the next valid support in case of an eventual break of the level.
Moving averages overview : pair has its 200-day moving average at 0.6820 today. We have a bearish cross from the 2 moving averages and pair is trading below them both.
Indicators watch : Indicators watch-level 1 (signal generator) : EUR negative (signaled short on january, 10). Indicators Wacth-level 2 : EUR Neutral.

Indicators watch-Level 1 : Trend indicators Direction, providing some useful investment information.
Indicators watch-Level 2 : Momentum Indicators Direction (working in pairs), providing current market sentiment for the instrument.

 

[Fxstreet]

European Session, 11/2/2005

Economic Snapshot

Good morning everyone from FXstreet.com. The Crude oil is trading around the $47.1 level, proving the $45 level (50% fibo retracement level from the previous upleg $41-$49+) a tough support and looking poised for a renewed attempt to the $50 resistance. In the US stock markets, the Dow Jones Industrial Average surged to close around 10.750, even though the trade deficit number didn’t meet expectations and the rise in crude oil.

Forex Technicals at a glance

Euro/Usd : At the time of this writing, the pair is trading around the 1.2865 level. Pair surged yesterday after a first negative reaction to the US trade deficit number, but it didn’t even get close to the downtrend line which lays today around 1.2925. Unless that trendline is broken, I can only favour short positions around it and around the 20 and 50-day moving averages (to make it clear for those who watch this report, I use (on a daily basis) the simple moving averages). However, I will be very closely monitoring how the single currency behaves in coming sessions, because I see a bullish signal coming from the Indicators Watch Level 2, and it means that the aforesaid break can’t be ruled out. If we take the move from 1.2250 to 1.3650 to draw fibonacci retracement lines, we will also see that the pair reacted to the upside at its 61.8% retracement level.
Moving averages overview : EUR has its 200-day moving average today at 1.2572. We have a bearish cross from the 2 shorter moving averages for some time now, with the 20-day down the 50-day.
Indicators watch : Indicators watch-level 1 (signal generator): EUR Neutral. Indicators watch-level 2 : EUR Positive.

Gbp/Usd : At the time of this writing, the pair is trading around the 1.8695 level. Similar to the EUR, it spiked up after yesterday’s news, but didn’t manage to move above the 20-day moving average nor to break the current downtrend line, which today lays around 1.8820. However, besides having the Indicators Watch Level 1 signaling long for the pair, a re-test of the trendline and an eventual break of it can’t be ruled out. What this also means is that if the current signal is a false one, we will almost for sure see the 1.85 level to break and the test of at least the 200-day moving average magnet.
Moving averages overview : GBP has its 200-day moving average today at 1.8420. We have the 20-day moving average cross the 50-day on the down for some time now. Pair is below both of them.
Indicators watch : Indicators watch-level 1 (signal generator) : GBP Positive (signaling long today). Indicators watch-level 2: GBP Neutral.

Usd/Chf : At the time of this writing, the pair is trading around the 1.2085 level. It is currently managing to hold above the current uptrend line from the lows of around 1.13. If it is finally broken, we look for a re-test of at least the 1.20 level. Pair has its Indicators Watch Level 2 pointing for further weakness in the pair, but the current USD bullish momentum may halt bears expectations, unless trendlines begin to break to the downside.
Moving averages overview : USD has its 200-day moving average today at 1.2226. The 20-day holds above the 50-day after the bullish cross a few days ago. Pair is trading above them both.
Indicators watch : Indicators watch-level 1 (signal generator) : USD Bullish (signaled long on december 30, 2004). Indicators watch-level 2: USD Negativel.

Eur/Gbp : At the time of this writing, the pair is trading around the 0.6885 level. More or less range-trading in no-man’s land, and unless either 0.6850 or the 20 & 50 moving averages are broken we may well be seeing this uncertainty for some time.
Moving averages overview : pair has its 200-day moving average at 0.6822 today. We have a bearish cross from the 2 moving averages and pair is trading below them both.
Indicators watch : Indicators watch-level 1 (signal generator) : EUR negative (signaled short on january, 10). Indicators Wacth-level 2 : EUR Neutral.

Indicators watch-Level 1 : Trend indicators Direction, providing some useful investment information.
Indicators watch-Level 2 : Momentum Indicators Direction (working in pairs), providing current market sentiment for the instrument.

 

[Fxstreet]

European Session, 14/2/2005

Economic Snapshot

Good morning everyone from FXstreet.com. The Crude oil is trading around the $47.1 level, barely moving in Friday’s session. In the US stock markets, the Dow Jones Industrial Average kept on climbing and now is only 4 points below 10.800.

Forex Technicals at a glance

Euro/Usd : At the time of this writing, the pair is trading around the 1.2970 level. The trendline break finally arrived and pair is now fighting the 20-day moving average. Is trying to hold above the 1.2940 resistance, proving the break of the downtrend line a valid one. To do that, it should confirm the break with a clearing of the 20-day moving average and a moe above 1.30. That done, 1.3075 and the 50-day moving average are the most likely retracement points. Since daily trading strategy remains unchanged for now, I would suggest to at least wait for one of those levels to be touched or a move back down the downtrend line to adopt new positions.
Moving averages overview : EUR has its 200-day moving average today at 1.2588. We have a bearish cross from the 2 shorter moving averages for some time now, with the 20-day down the 50-day. Pair is now above the 20-day moving average.
Indicators watch : Indicators watch-level 1 (signal generator): EUR Positive. Indicators watch-level 2 : EUR Positive.

Gbp/Usd : At the time of this writing, the pair is trading around the 1.8815 level. Escaping the magnet of the 200-day moving average on a daily basis, exaggerated move followed it (as it usually happens) is now being done by the british currency. It is now exactly at its downtrend line, moving up following my indicator’s watch level 1 bullsih signal, and threating a break on the upside. It has broken the 20-day moving average on the upside, and the 50-day is next if the break is confirmed.
Moving averages overview : GBP has its 200-day moving average today at 1.8436. We have the 20-day moving average cross the 50-day on the down for some time now. Pair is above the 20-day now.
Indicators watch : Indicators watch-level 1 (signal generator) : GBP Positive (signaled long feb.11, 2005). Indicators watch-level 2: GBP Neutral-Positive.

Usd/Chf : At the time of this writing, the pair is trading around the 1.1985 level. The 20-day moving average is holding the USD from falling further against the swiss franc for now. If it does not hold, 1.19 is the next level to watch and from where to adopt bullish positions. The 200-day moving average proved to be too tough for the pair to break, and the sell-off that followed was more or less expected, but a sustained move to the downside could bring some real dark clouds to the current bright USD move.
Moving averages overview : USD has its 200-day moving average today at 1.2210. The 20-day holds above the 50-day after the bullish cross a few days ago. Pair is trading above them both.
Indicators watch : Indicators watch-level 1 (signal generator) : USD Neutral (closing the long signal from december 30, 2004). Indicators watch-level 2: USD Negativel.

Eur/Gbp : At the time of this writing, the pair is trading around the 0.6895 level. More or less range-trading again and in no-man’s land, and unless either 0.6850 or the 20 & 50 moving averages are broken we may well be seeing this uncertainty for some time. Dwontrend line comes in today around 0.6930, far from current levels.
Moving averages overview : pair has its 200-day moving average at 0.6825 today. We have a bearish cross from the 2 moving averages and pair is trading below them both.
Indicators watch : Indicators watch-level 1 (signal generator) : EUR negative (signaled short on january, 10). Indicators Wacth-level 2 : EUR Neutral.

Indicators watch-Level 1 : Trend indicators Direction, providing some useful investment information.
Indicators watch-Level 2 : Momentum Indicators Direction (working in pairs), providing current market sentiment for the instrument.

 

[Fxstreet]

European Session, 15/2/2005

Economic Snapshot

Good morning everyone from FXstreet.com. The Crude oil is trading around the $47.5 level, a bit up with respect to yesterday’s levels. In the US stock markets, the Dow Jones Industrial Average barely moved and still is capped by 10.800.

Forex Technicals at a glance

Euro/Usd : At the time of this writing, the pair is trading around the 1.2980 level. Almost flat with respect to yesterday’s opening levels, but we have the pair above the 20-day moving average now. Next resistance level is 38.2% fibo retracement level of the current downleg around 1.31, and next is the 50-day moving average. A break of the 1.29 level is needed for the downtrend to resume. My H&S theory, which was almost completed feb 6th, disappeared in the air right the day it had to be given the confirmation (feb 7th), so the break of the aforesaid level is needed to give the bullish USD picture a new boost.
Moving averages overview : EUR has its 200-day moving average today at 1.2594. We have a bearish cross from the 2 shorter moving averages for some time now, with the 20-day down the 50-day. Pair is now above the 20-day moving average.
Indicators watch : Indicators watch-level 1 (signal generator): EUR Positive. Indicators watch-level 2 : EUR Positive.

Gbp/Usd : At the time of this writing, the pair is trading around the 1.8885 level. Pair is just shy of the 50-day moving average, which should hold if the bearish momentum wants to resume for the pair. If it does not hold, it will prove the current downtrendline break valid and could change the picture in the short term. The 50-day moving average coincides with the 38.2% retracement level of the current downleg, so I expect there to be good offers waiting.
Moving averages overview : GBP has its 200-day moving average today at 1.8442. We have the 20-day moving average cross the 50-day on the down for some time now. Pair is above the 20-day now.
Indicators watch : Indicators watch-level 1 (signal generator) : GBP Positive (signaled long feb.11, 2005). Indicators watch-level 2: GBP Neutral-Positive.

Usd/Chf : At the time of this writing, the pair is trading around the 1.1945 level. The break of the 20-day moving average opens the door for the 1.19 support level magnet to work. Pair is vulnerable and I would expect a good rebound from the support level to give the USD new and fresh air to move to the upside again.
Moving averages overview : USD has its 200-day moving average today at 1.2205. The 20-day holds above the 50-day after the bullish cross a few days ago. Pair is below the 20-day now.
Indicators watch : Indicators watch-level 1 (signal generator) : USD Negative (no signal). Indicators watch-level 2: USD Negative.

Eur/Gbp : At the time of this writing, the pair is trading around the 0.6880 level. More or less range-trading yet again and in no-man’s land, and unless either 0.6850 or the 20 & 50 moving averages are broken we may well be seeing this uncertainty for some time. Dwontrend line comes in today around 0.6930, far from current levels again today.
Moving averages overview : pair has its 200-day moving average at 0.6825 today. We have a bearish cross from the 2 moving averages and pair is trading below them both.
Indicators watch : Indicators watch-level 1 (signal generator) : EUR negative (signaled short on january, 10). Indicators Wacth-level 2 : EUR Neutral.

Indicators watch-Level 1 : Trend indicators Direction, providing some useful investment information.
Indicators watch-Level 2 : Momentum Indicators Direction (working in pairs), providing current market sentiment for the instrument.

 

[Fxstreet]

European Session, 16/2/2005

Economic Snapshot

Good morning everyone from FXstreet.com. The Crude oil is trading around the $47.4 level, a bit down with respect to yesterday’s levels. In the US stock markets, the Dow Jones Industrial Average moved up again breaking 10.800 level and closing around 10.840.

Forex Technicals at a glance

Euro/Usd : At the time of this writing, the pair is trading around the 1.3015 level. Pair has tried to break the 50-day moving average, no success for now. If that moving average is broken on the upside, the EUR would still have to face the 38.2% fibonacci retracement level of the current downleg, more or less around 1.31. I expect good selling opportunities around the presented levels, but always keeping an eye to an eventual break, which could be violent.
Moving averages overview : EUR has its 200-day moving average today at 1.2600. We have a bearish cross from the 2 shorter moving averages for some time now, with the 20-day down the 50-day. Pair is now above the 20-day moving average and has tested the 50-day.
Indicators watch : Indicators watch-level 1 (signal generator): EUR Positive. Indicators watch-level 2 : EUR Positive.

Gbp/Usd : At the time of this writing, the pair is trading around the 1.8915 level. Pair is testing the 50% fibonacci retracement level of the current upleg, but it is trading far way up of the 20 & 50-day moving averages. 1.9075 is the next selling level offering a good risk/reward ratio and only a dip below 1.8750 (highly unrealistic at least for now) wil resume the bearish trend for the pair.
Moving averages overview : GBP has its 200-day moving average today at 1.8449. We have the 20-day moving average cross the 50-day on the down for some time now. Pair is above the 20-day & the 50-day now.
Indicators watch : Indicators watch-level 1 (signal generator) : GBP Positive (signaled long feb.11, 2005). Indicators watch-level 2: GBP Neutral-Positive.

Usd/Chf : At the time of this writing, the pair is trading around the 1.1885 level. Again it moved to prefection after breaking the 20-day moving average, and it is now testing the 38.2% fibonacci retracement level of the current upleg. It has also tested the 50-day moving average, which has provided some real support for now. If pair is unable to break above the 20-day again, it looks poised for an eventual break down.
Moving averages overview : USD has its 200-day moving average today at 1.2199. The 20-day holds above the 50-day after the bullish cross a few days ago. Pair is below the 20-day now and has tested the 50-day support.
Indicators watch : Indicators watch-level 1 (signal generator) : USD Negative (no signal). Indicators watch-level 2: USD Negative.

Eur/Gbp : At the time of this writing, the pair is trading around the 0.6875 level. I will wait for any definition on the pair to make any technical comments, it is trading on a very narrow range lately.
Moving averages overview : pair has its 200-day moving average at 0.6826 today. We have a bearish cross from the 2 moving averages and pair is trading below them both.
Indicators watch : Indicators watch-level 1 (signal generator) : EUR negative (signaled short on january, 10). Indicators Wacth-level 2 : EUR Neutral.

Indicators watch-Level 1 : Trend indicators Direction, providing some useful investment information.
Indicators watch-Level 2 : Momentum Indicators Direction (working in pairs), providing current market sentiment for the instrument.

 

[Fxstreet]

European Session, 21/2/2005

Economic Snapshot
Good morning everyone from FXstreet.com. The Crude oil is trading around the $48.4 level, continuing its up&down moves these days. In the US stock markets, the Dow Jones Industrial Average managed to close above the previous day’s close and ended arouond 10.790.

Forex Technicals at a glance

Euro/Usd : At the time of this writing, the pair is trading around the 1.3060 level. Trying but not being successful at breaking the 1.3085 level for now. If it does not move above it we may well see a deep correction for the pair. Expect selling pressure to increase if the pair trades near the 1.3150-3200 area.
Moving averages overview : EUR has its 200-day moving average today at 1.2612. We have a bearish cross from the 2 shorter moving averages for some time now, with the 20-day down the 50-day. Pair is now above the 20-day moving average.
Indicators watch : Indicators watch-level 1 (signal generator): EUR Positive – no signal. Indicators watch-level 2 : EUR Positive.

Gbp/Usd : At the time of this writing, the pair is trading around the 1.8970 level. The pair is holding above the 50-day simple moving average, and it will only turn bearish on a daily closing basis if it breaks down the 1.88 level again. On the upside, selling rpessure should increasea round 1.9035/50.
Moving averages overview : GBP has its 200-day moving average today at 1.8463. We have the 20-day moving average cross the 50-day on the down for some time now. Pair is above them both, though.
Indicators watch : Indicators watch-level 1 (signal generator) : GBP Positive (signaled long feb.11, 2005). Indicators watch-level 2: GBP Positive.

Usd/Chf : At the time of this writing, the pair is trading around the 1.1835 level. We have holiday today in the US, so not much action should be expected in the currency markets. However, some surprises may happen, and wouldn’t be desirable for USD bulls to see a break of the 1.1775 level today, which is not mcuh far away from current levels. A break above the 1.20 level is needed for the pair to regain momentum.
Moving averages overview : USD has its 200-day moving average today at 1.2188. The 20-day holds above the 50-day after the bullish cross a few days ago. Pair is below the 20-day now.
Indicators watch : Indicators watch-level 1 (signal generator) : USD Negative (no signal). Indicators watch-level 2: USD Negative.

Eur/Gbp : At the time of this writing, the pair is trading around the 0.6880 level. Unable to break up the current downtrend it has dipped again below the 0.69 level, closing again below the 20-day moving average. Dynamic support is found around 0.6870. EUR is with less momentum than GBP at this moment, and only a break above 0.6920 would change this view.
Moving averages overview : pair has its 200-day moving average at 0.6827 today. We have a bearish cross from the 2 moving averages and pair is trading below them both now.
Indicators watch : Indicators watch-level 1 (signal generator) : EUR Neutral –closing the short signal. Indicators Wacth-level 2 : EUR Neutral-Negative.

Indicators watch-Level 1 : Trend indicators Direction, providing some useful investment information.
Indicators watch-Level 2 : Momentum Indicators Direction (working in pairs), providing current market sentiment for the instrument.

 

[Fxstreet]

European Session, 22/2/2005

Economic Snapshot

Good morning everyone from FXstreet.com. The Crude oil is trading around the $48.4 level, unchanged due to Monday US holiday. In the US stock markets, the Dow Jones Industrial Average unchanged at 10.790.

Forex Technicals at a glance

Euro/Usd : At the time of this writing, the pair is trading around the 1.3175 level. After breaking the 1.3085 resistance (38.2% retracement level of the previous downleg), pair has surged to test the 50% fibonacci retracement level, and at the time of this writing it is also trading above the 50-day moving average. Pair has regained momentum and USD bulls only have the 1.33 barrier as their last chance to negate the single currency from making new historical highs. 1.3085 the current support for the pair now. Shorts only advisable around 1.33 or on a break of the current support level.
Moving averages overview : EUR has its 200-day moving average today at 1.2618. We have a bearish cross from the 2 shorter moving averages for some time now, with the 20-day down the 50-day. Pair is now above them both.
Indicators watch : Indicators watch-level 1 (signal generator): EUR Positive – no signal. Indicators watch-level 2 : EUR Positive.

Gbp/Usd : At the time of this writing, the pair is trading around the 1.9080 level. Pair has followed to perfection the bullish daily signal it triggered some days ago and it has currently broken the 50% retracement level of the previous downleg, and the next strong resistance is placed around 1.9170. It confirms the 1.85 level to be a strong support for now. Shorts only advisable around 1.9170 , while longs may be resumed around 1.8930 which should serve as good support for now. Very curious that we have a bearish signal on weekly charts, but that the pair is breaking to the upside following dailies, clearly showing the divergence exisiting between these 2 timeframes.
Moving averages overview : GBP has its 200-day moving average today at 1.8469. We have the 20-day moving average cross the 50-day on the down for some time now. Pair is above them both, though.
Indicators watch : Indicators watch-level 1 (signal generator) : GBP Positive (signaled long feb.11, 2005). Indicators watch-level 2: GBP Positive.

Usd/Chf : At the time of this writing, the pair is trading around the 1.1695 level. Very weak picture for the USD against the CHF, which has been the leader for the europeans current strength. Pair has almost tested the last fibonacci retracement level of 61.8% at 1.1660, and a break of it will cause further downward pressure to the pair. In just these few hours of trading for today’s session, pair has also broken down the 50-day simple moving average, and as said, it is threatening the last fibo support from the current upleg. Longs advisable around 1.1660, but momentum is almost gone for the pair. Divergence between weekly and daily signals, which make me think of increasing volatilty to come.
Moving averages overview : USD has its 200-day moving average today at 1.2183. The 20-day holds above the 50-day after the bullish cross a few days ago. Pair is below them both now.
Indicators watch : Indicators watch-level 1 (signal generator) : USD Negative (no signal). Indicators watch-level 2: USD Negative.

Eur/Gbp : At the time of this writing, the pair is trading around the 0.6905 level. It is trying very hard to break the current downtrend line and it has in fact broken above the 20-day moving average, so it is fighting to regain momentum on the upside. If it consolidates the break, next resistance around 0.6950, which can indeed be very strong for the moment.
Moving averages overview : pair has its 200-day moving average at 0.6828 today. We have a bearish cross from the 2 moving averages and pair is trading above the 20-day now.
Indicators watch : Indicators watch-level 1 (signal generator) : EUR Neutral. Indicators Wacth-level 2 : EUR Neutral-Negative.

Indicators watch-Level 1 : Trend indicators Direction, providing some useful investment information.
Indicators watch-Level 2 : Momentum Indicators Direction (working in pairs), providing current market sentiment for the instrument.

 

[Fxstreet]

new section

We would like to let you know that we have a new section up and running : The Trading Corner where you will find the best trading resoruces for your fx trading.

Regards.

 

[Fxstreet]

European Session, 3/3/2005

Markets Snapshot

Good morning everyone from FXstreet.com. The Crude oil closed around $53 yesterday, and it is continuing to form a bullish formation that could take it above previous all-time highs.. In the US stock markets, the Dow Jones Industrial Average closed around 10.810, in the same yo-yo move for the past 4 sessions.

Forex Technicals at a glance

Euro/Usd: At the time of this writing, the pair is trading around the 1.3150 level. Not much technical action to comment from yesterday’s session. Same technical levels apply for today’s session. Market keeps an eye on to 1.33 and 1.3040 as key levels for the time being.
Moving averages overview : EUR has its 200-day moving average today at 1.2657. We have a bearish cross from the 2 shorter moving averages for some time now, with the 20-day down the 50-day. Pair is now above them both, fighting the 50-day.
Indicators watch : Indicators watch-level 1 (signal generator): EUR Positive – no signal. Indicators watch-level 2 : EUR Neutral.

Gbp/Usd : At the time of this writing, the pair is trading around the 1.91 level. Slightly lower with respect to yesterday’s levels, but nothing dramatic in its price action to be remarked. The only remarkable thing is the upside cross of the 20-day moving average to the 50-day.
Moving averages overview : GBP has its 200-day moving average today at 1.8507. We have the confirmation of the 20-day crossing the 50-day on the upside.
Indicators watch : Indicators watch-level 1 (signal generator) : GBP Positive (signaled long feb.11, 2005). Indicators watch-level 2: GBP Neutral-Positive.

Usd/Chf : At the time of this writing, the pair is trading around the 1.1750 level. Flat with respect to yesterday’s levels, therefore yesterday’s analysis apply, and same levels should be taken into consideration.
Moving averages overview : USD has its 200-day moving average today at 1.2147. The 20-day holds above the 50-day after the bullish cross a few days ago. Pair is below them both now.
Indicators watch : Indicators watch-level 1 (signal generator) : USD Negative (no signal). Indicators watch-level 2: USD Positive.

Eur/Gbp : At the time of this writing, the pair is trading around the 0.6885 level. Pair broke the downtrend line again and it is now fighting to break the 20-day moving average. Break of the 50-day is needed for the bullish view to stay for some time.
Moving averages overview : pair has its 200-day moving average at 0.6835 today. We have a bearish cross from the 2 moving averages and pair is below them both, but it is fighting with the 20-day moving average for a possible break on the upside.
Indicators watch : Indicators watch-level 1 (signal generator) : EUR Positive – signaled long february,25-. Indicators Wacth-level 2 : EUR Neutral.

Indicators watch-Level 1 : Trend indicators Direction, providing some useful investment information.
Indicators watch-Level 2 : Momentum Indicators Direction (working in pairs), providing current market sentiment for the instrument.

 

[marketgeeni]

hello

please can anyone tell me the best settings i can use on a 15 minute MACD chart on currencies

thanks

 

[options]

Market genie.

Take the standard settings your software gives you, then adjust, compared to the price chart you are watching. Find the fit you like!
It is certainly not a 100% correct indicator.

 

[marketgeeni]

Options

Thank You Very Much

 

[Fxstreet]

Macd

Usual settings work ok, but I've seen traders using from 5/34/5 to 21/63/11 so, as "options" said, starting from the usual settings, adjust them to the ones that fit you best and that work more efficiently for you.

Hope that helps.