neil said:
Well, in my demo a/c I was in long EURO just prior to 14:30 and got 75 pips. I then went out and cut the grass, missing the drop back and then further drop on the 16:00 news.
There are various sources of the upcoming news such as:
http://money.cnn.com/markets/IRC/
http://www.dailyfx.com/images/stories/Calendar/calendar.pdf
Most items listed on these are unlikely to affect markets much but some such as interest rate-related announcements and US non-farm payrolls can produce big spikes.
European Session, 4/4/2005
Markets Snapshot
Good morning everyone from FXstreet.com. The Crude oil closed around $57.55 yesterday, making new highs on th way, but its indicators are turning bearish again and we could have bearish signals soon. In the US stock markets, the Dow Jones Industrial Average closed around 10.400, sliding down after the worse-than-expected NFP number, but holding the 10.375 level for now.
Forex Technicals at a glance
Euro/Usd: At the time of this writing, the pair is trading around the 1.2885 level. The “disappointing” NFP number lifted the pair up to 1.3050+ levels, where a great selloff took place. Longs were caught in a bear’s trap and look quite in danger despite today’s pause in the downmove. Intraday trades profited from the economic data, but mid-long term trades supported by weekly indicators jumped in and took a good deal of dollar longs, provoking the second attempt to clearly reverse the long term trend. In my opinion, the long uptrend from 2002 is almost done and the confirmation will come on the break below the 200-day simple moving average, which is quite close to current levels.Since there are no relevant economic news due out today, I would expect the market to be quiet and digest Friday’s action before new rallies start. Also note the 2 shorter moving averages almost crossing south, another bearish signal. The bearish view is negated if the pair trades above 1.32 again.
Moving averages overview: EUR has its 200-day moving average today at 1.2770. Pair is trading below the 2 moving averages (20&50), though they still hold a bullish cross despite they are turning south and look poised for a bearish cross soon.
Indicators watch: Indicators watch-level 1 (signal generator): EUR Negative – no signal (flat). Indicators watch-level 2: EUR Neutral.
Gbp/Usd: At the time of this writing, the pair is trading around the 1.8735 level. Pair went up very modestly after the NFP number on Friday, signaling its lack of strength to continue north. A good sell-off followed that warning signal, and now the pair looks very weak with the 2 moving averages almost crossing south today. The 200-day simple moving average looks a reasonable support area now. Only a break above the 1.90 level negates this bearish view.
Moving averages overview: GBP has its 200-day moving average today at 1.8586. Pair is below both moving averages now and they look poised for a bearish cross soon.
Indicators watch: Indicators watch-level 1 (signal generator) : GBP Negative – no signal (flat). Indicators watch-level 2: GBP Neutral-Negative.
Usd/Chf: At the time of this writing, the pair is trading around the 1.2050 level. Very solid upmove taking the pair to a key test of the 200-day moving average, which is only 15 pips away from the current price. As said in previous reports, the USD/CHF is acting as the leading fx pair for some weeks now, and it looks to continue this way in the near future. The break of the long downtrend from 2001 is now confirmed, and the break of the long moving average (a reality now) will confirm it. Closing above 1.23 confirms also the 1-2-3 bullish formation on the pair, targeting much higher levels. Moving averages look poised for a bullish cross in the very near coming sessions. The brarish view on the pair is highly unrealistic now, only a break below 1.14 would start it.
Moving averages overview: USD has its 200-day moving average today at 1.2068. Pair is above both moving averages now and there is an inminent bullish cross.
Indicators watch: Indicators watch-level 1 (signal generator): USD Positive - no signal – (flat). Indicators watch-level 2: USD Positive.
Eur/Gbp: At the time of this writing, the pair is trading around the 0.6875 level. There still is a bullish cross by the 2 shorter moving averages, but pair has tested (and hold) the 200-day moving average, which, coupled with the strong support level 0.6850 have halted the downmove on the pair. However, only a move above 0.6940/50 resumes the upward momentum, therefore picture is pretty mixed on the pair right now.
Moving averages overview: pair has its 200-day moving average at 0.6867 today. Pair is on a bullish cross by the 2 moving averages now.
Indicators watch: Indicators watch-level 1 (signal generator): EUR Neutral. 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.
Markets Snapshot
Good morning everyone from FXstreet.com. The Crude oil closed around $57.55 yesterday, making new highs on th way, but its indicators are turning bearish again and we could have bearish signals soon. In the US stock markets, the Dow Jones Industrial Average closed around 10.400, sliding down after the worse-than-expected NFP number, but holding the 10.375 level for now.
Forex Technicals at a glance
Euro/Usd: At the time of this writing, the pair is trading around the 1.2885 level. The “disappointing” NFP number lifted the pair up to 1.3050+ levels, where a great selloff took place. Longs were caught in a bear’s trap and look quite in danger despite today’s pause in the downmove. Intraday trades profited from the economic data, but mid-long term trades supported by weekly indicators jumped in and took a good deal of dollar longs, provoking the second attempt to clearly reverse the long term trend. In my opinion, the long uptrend from 2002 is almost done and the confirmation will come on the break below the 200-day simple moving average, which is quite close to current levels.Since there are no relevant economic news due out today, I would expect the market to be quiet and digest Friday’s action before new rallies start. Also note the 2 shorter moving averages almost crossing south, another bearish signal. The bearish view is negated if the pair trades above 1.32 again.
Moving averages overview: EUR has its 200-day moving average today at 1.2770. Pair is trading below the 2 moving averages (20&50), though they still hold a bullish cross despite they are turning south and look poised for a bearish cross soon.
Indicators watch: Indicators watch-level 1 (signal generator): EUR Negative – no signal (flat). Indicators watch-level 2: EUR Neutral.
Gbp/Usd: At the time of this writing, the pair is trading around the 1.8735 level. Pair went up very modestly after the NFP number on Friday, signaling its lack of strength to continue north. A good sell-off followed that warning signal, and now the pair looks very weak with the 2 moving averages almost crossing south today. The 200-day simple moving average looks a reasonable support area now. Only a break above the 1.90 level negates this bearish view.
Moving averages overview: GBP has its 200-day moving average today at 1.8586. Pair is below both moving averages now and they look poised for a bearish cross soon.
Indicators watch: Indicators watch-level 1 (signal generator) : GBP Negative – no signal (flat). Indicators watch-level 2: GBP Neutral-Negative.
Usd/Chf: At the time of this writing, the pair is trading around the 1.2050 level. Very solid upmove taking the pair to a key test of the 200-day moving average, which is only 15 pips away from the current price. As said in previous reports, the USD/CHF is acting as the leading fx pair for some weeks now, and it looks to continue this way in the near future. The break of the long downtrend from 2001 is now confirmed, and the break of the long moving average (a reality now) will confirm it. Closing above 1.23 confirms also the 1-2-3 bullish formation on the pair, targeting much higher levels. Moving averages look poised for a bullish cross in the very near coming sessions. The brarish view on the pair is highly unrealistic now, only a break below 1.14 would start it.
Moving averages overview: USD has its 200-day moving average today at 1.2068. Pair is above both moving averages now and there is an inminent bullish cross.
Indicators watch: Indicators watch-level 1 (signal generator): USD Positive - no signal – (flat). Indicators watch-level 2: USD Positive.
Eur/Gbp: At the time of this writing, the pair is trading around the 0.6875 level. There still is a bullish cross by the 2 shorter moving averages, but pair has tested (and hold) the 200-day moving average, which, coupled with the strong support level 0.6850 have halted the downmove on the pair. However, only a move above 0.6940/50 resumes the upward momentum, therefore picture is pretty mixed on the pair right now.
Moving averages overview: pair has its 200-day moving average at 0.6867 today. Pair is on a bullish cross by the 2 moving averages now.
Indicators watch: Indicators watch-level 1 (signal generator): EUR Neutral. 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.
European Session, 5/4/2005
Markets Snapshot
Good morning everyone from FXstreet.com. The Crude oil closed around $57 yesterday, after hitting $58+, but still with bearish signals coming from its indicators. In the US stock markets, the Dow Jones Industrial Average closed around 10.420, holding the mildly strong support for now.
Forex Technicals at a glance
Euro/Usd: At the time of this writing, the pair is trading around the 1.2810 level. The momentum for the pair is getting mroe and more bearish and soon we should see the real test of the 200-day simple moving average, which could definitely mark the change of the mid-long term trend.
Moving averages overview: EUR has its 200-day moving average today at 1.2774. Pair is trading below the 2 moving averages (20&50), though they still hold a bullish cross despite they now look poised for an inminent bearish cross.
Indicators watch: Indicators watch-level 1 (signal generator): EUR Negative – no signal (flat). Indicators watch-level 2: EUR Neutral.
Gbp/Usd: At the time of this writing, the pair is trading around the 1.8735 level. Unchanged with respect to yesterday’s levels, with the moving averages almost crossing south today, marking the bearish momentum poised to continue in the coming sessions. Targets the 200-day simple moving average.
Moving averages overview: GBP has its 200-day moving average today at 1.8589. Pair is below both moving averages now and they look poised for an inminent bearish cross soon.
Indicators watch: Indicators watch-level 1 (signal generator) : GBP Negative – no signal (flat). Indicators watch-level 2: GBP Neutral-Negative.
Usd/Chf: At the time of this writing, the pair is trading around the 1.2135 level. It has finally broken the 200-day simple moving average, as expected and commented in previous reports. Moving averages almost crossing north today, and the bullish 1-2-3 formation looking good to be completed are very supportive for the strong upward momentum the pair is currently having.
Moving averages overview: USD has its 200-day moving average today at 1.2066. Pair is above both moving averages now and there is an inminent bullish cross.
Indicators watch: Indicators watch-level 1 (signal generator): USD Positive - no signal – (flat). Indicators watch-level 2: USD Positive.
Eur/Gbp: At the time of this writing, the pair is trading around the 0.6830 level. Pair is attempting a break of the last mildly-strong support situated at 0.6830 after breaking the strong one (0.6850) along with the break of the 200-day simple moving average. Despite movings’ bullish cross, pair looks weak now and further weakness can’t be ruled out. 0.6780 could be the next support area should the 0.6830 break.
Moving averages overview: pair has its 200-day moving average at 0.6868 today. Pair is on a bullish cross by the 2 moving averages now.
Indicators watch: Indicators watch-level 1 (signal generator): EUR Neutral. 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.
Markets Snapshot
Good morning everyone from FXstreet.com. The Crude oil closed around $57 yesterday, after hitting $58+, but still with bearish signals coming from its indicators. In the US stock markets, the Dow Jones Industrial Average closed around 10.420, holding the mildly strong support for now.
Forex Technicals at a glance
Euro/Usd: At the time of this writing, the pair is trading around the 1.2810 level. The momentum for the pair is getting mroe and more bearish and soon we should see the real test of the 200-day simple moving average, which could definitely mark the change of the mid-long term trend.
Moving averages overview: EUR has its 200-day moving average today at 1.2774. Pair is trading below the 2 moving averages (20&50), though they still hold a bullish cross despite they now look poised for an inminent bearish cross.
Indicators watch: Indicators watch-level 1 (signal generator): EUR Negative – no signal (flat). Indicators watch-level 2: EUR Neutral.
Gbp/Usd: At the time of this writing, the pair is trading around the 1.8735 level. Unchanged with respect to yesterday’s levels, with the moving averages almost crossing south today, marking the bearish momentum poised to continue in the coming sessions. Targets the 200-day simple moving average.
Moving averages overview: GBP has its 200-day moving average today at 1.8589. Pair is below both moving averages now and they look poised for an inminent bearish cross soon.
Indicators watch: Indicators watch-level 1 (signal generator) : GBP Negative – no signal (flat). Indicators watch-level 2: GBP Neutral-Negative.
Usd/Chf: At the time of this writing, the pair is trading around the 1.2135 level. It has finally broken the 200-day simple moving average, as expected and commented in previous reports. Moving averages almost crossing north today, and the bullish 1-2-3 formation looking good to be completed are very supportive for the strong upward momentum the pair is currently having.
Moving averages overview: USD has its 200-day moving average today at 1.2066. Pair is above both moving averages now and there is an inminent bullish cross.
Indicators watch: Indicators watch-level 1 (signal generator): USD Positive - no signal – (flat). Indicators watch-level 2: USD Positive.
Eur/Gbp: At the time of this writing, the pair is trading around the 0.6830 level. Pair is attempting a break of the last mildly-strong support situated at 0.6830 after breaking the strong one (0.6850) along with the break of the 200-day simple moving average. Despite movings’ bullish cross, pair looks weak now and further weakness can’t be ruled out. 0.6780 could be the next support area should the 0.6830 break.
Moving averages overview: pair has its 200-day moving average at 0.6868 today. Pair is on a bullish cross by the 2 moving averages now.
Indicators watch: Indicators watch-level 1 (signal generator): EUR Neutral. 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.
European Session, 6/4/2005
Markets Snapshot
Good morning everyone from FXstreet.com. The Crude oil closed around $56 yesterday, drifting lower after the new highs two sessions ago. In the US stock markets, the Dow Jones Industrial Average closed around 10.460, keeping the momentum going while the 10.375 support holds.
Forex Technicals at a glance
Euro/Usd: At the time of this writing, the pair is trading around the 1.2885 level. Pair is rebounding today after halting the current downmove just in front of the 200-day simple moving average, which still remains the magnet to keep an eye on, and more with the inminent bearish cross by the 20&50 moving averages. However, in 4hr chart we see bullish signals coming, for example, from the MACD indicator, which could lead to further gains for the pair. Bearish momentum should resume, or at least cause some impact when the bearish moving averages cross is confirmed.
Moving averages overview: EUR has its 200-day moving average today at 1.2777. Pair is trading below the 2 moving averages (20&50). They still hold a tiny bullish cross despite they now look poised for an inminent bearish cross.
Indicators watch: Indicators watch-level 1 (signal generator): EUR Neutral – no signal (flat). Indicators watch-level 2: EUR Neutral.
Gbp/Usd: At the time of this writing, the pair is trading around the 1.8805 level. We see today the bearish cross from the short moving averages, that must be confirmed tomorrow. If the pair is unable to regain the 1.90 level, this bearish cross will drive the pair to the magnet 200-day simple moving average, situated around 200 pips from current levels. The first good support that we see now for the pair lays around the magnet area (1.86/1.8630).
Moving averages overview: GBP has its 200-day moving average today at 1.8592. Pair has a bearish cross now from the short moving averages.
Indicators watch: Indicators watch-level 1 (signal generator) : GBP Neutral – no signal (flat). Indicators watch-level 2: GBP Neutral-Negative.
Usd/Chf: At the time of this writing, the pair is trading around the 1.2040 level. Quite surprisingly, and not in the good meaning, the USD has broken back down, and it is now currently trading below, the 200-day simple moving average. Short moving averages are almost doing a bullish cross, but the price action needs to stay above the big magnet level to prove the upmove to be here to stay for long time. For now, pair is fighting to regain the level, which would attract fresh buying if finally broken on the upside.
Moving averages overview: USD has its 200-day moving average today at 1.2064. Pair is above both moving averages now and there is an inminent bullish cross.
Indicators watch: Indicators watch-level 1 (signal generator): USD Neutral - no signal – (flat). Indicators watch-level 2: USD Positive.
Eur/Gbp: At the time of this writing, the pair is trading around the 0.6845 level. Pair is attempting to regain the 0.6850 level, to give a biot of a boost on its upside expectations. While it is unable to do so it will remain weak and exposed to further declines, targeting 0.6780. The short moving averages keep moving south but we don’t have a bearish cross in sight yet.
Moving averages overview: pair has its 200-day moving average at 0.6869 today. Pair is on a bullish cross by the 2 moving averages now.
Indicators watch: Indicators watch-level 1 (signal generator): EUR Neutral. 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.
Markets Snapshot
Good morning everyone from FXstreet.com. The Crude oil closed around $56 yesterday, drifting lower after the new highs two sessions ago. In the US stock markets, the Dow Jones Industrial Average closed around 10.460, keeping the momentum going while the 10.375 support holds.
Forex Technicals at a glance
Euro/Usd: At the time of this writing, the pair is trading around the 1.2885 level. Pair is rebounding today after halting the current downmove just in front of the 200-day simple moving average, which still remains the magnet to keep an eye on, and more with the inminent bearish cross by the 20&50 moving averages. However, in 4hr chart we see bullish signals coming, for example, from the MACD indicator, which could lead to further gains for the pair. Bearish momentum should resume, or at least cause some impact when the bearish moving averages cross is confirmed.
Moving averages overview: EUR has its 200-day moving average today at 1.2777. Pair is trading below the 2 moving averages (20&50). They still hold a tiny bullish cross despite they now look poised for an inminent bearish cross.
Indicators watch: Indicators watch-level 1 (signal generator): EUR Neutral – no signal (flat). Indicators watch-level 2: EUR Neutral.
Gbp/Usd: At the time of this writing, the pair is trading around the 1.8805 level. We see today the bearish cross from the short moving averages, that must be confirmed tomorrow. If the pair is unable to regain the 1.90 level, this bearish cross will drive the pair to the magnet 200-day simple moving average, situated around 200 pips from current levels. The first good support that we see now for the pair lays around the magnet area (1.86/1.8630).
Moving averages overview: GBP has its 200-day moving average today at 1.8592. Pair has a bearish cross now from the short moving averages.
Indicators watch: Indicators watch-level 1 (signal generator) : GBP Neutral – no signal (flat). Indicators watch-level 2: GBP Neutral-Negative.
Usd/Chf: At the time of this writing, the pair is trading around the 1.2040 level. Quite surprisingly, and not in the good meaning, the USD has broken back down, and it is now currently trading below, the 200-day simple moving average. Short moving averages are almost doing a bullish cross, but the price action needs to stay above the big magnet level to prove the upmove to be here to stay for long time. For now, pair is fighting to regain the level, which would attract fresh buying if finally broken on the upside.
Moving averages overview: USD has its 200-day moving average today at 1.2064. Pair is above both moving averages now and there is an inminent bullish cross.
Indicators watch: Indicators watch-level 1 (signal generator): USD Neutral - no signal – (flat). Indicators watch-level 2: USD Positive.
Eur/Gbp: At the time of this writing, the pair is trading around the 0.6845 level. Pair is attempting to regain the 0.6850 level, to give a biot of a boost on its upside expectations. While it is unable to do so it will remain weak and exposed to further declines, targeting 0.6780. The short moving averages keep moving south but we don’t have a bearish cross in sight yet.
Moving averages overview: pair has its 200-day moving average at 0.6869 today. Pair is on a bullish cross by the 2 moving averages now.
Indicators watch: Indicators watch-level 1 (signal generator): EUR Neutral. 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.
European Session, 7/4/2005
Markets Snapshot
Good morning everyone from FXstreet.com. The Crude oil closed around $56 yesterday, almost unchanged. In the US stock markets, the Dow Jones Industrial Average closed around 10.485, moving a bit higher.
Forex Technicals at a glance
Euro/Usd: At the time of this writing, the pair is trading around the 1.2930 level. Following some bullish signals, pair is rebounding today and looks quite firm against the greenback. Pair could rise up to 1.30, where we see a dynamic resistance laying today. However, the moving averages have crossed on the downside, and we should be having the confirmation of ths bearish cross tomorrow. Therefore, the selling pressure is likely to remain for quite a while in the pair now.
Moving averages overview: EUR has its 200-day moving average today at 1.2780. Pair has a bearish cross confirmed today.
Indicators watch: Indicators watch-level 1 (signal generator): EUR Neutral – no signal (flat). Indicators watch-level 2: EUR Neutral.
Gbp/Usd: At the time of this writing, the pair is trading around the 1.8845 level. We have the bearish moving averages cross confirmation today. Pair is firm against the greenback but with this bearish cross we should see the selling pressure staying in the pair for some time.
Moving averages overview: GBP has its 200-day moving average today at 1.8594. Pair confirms today the bearish cross now from the short moving averages.
Indicators watch: Indicators watch-level 1 (signal generator) : GBP Neutral – no signal (flat). Indicators watch-level 2: GBP Neutral-Negative.
Usd/Chf: At the time of this writing, the pair is trading around the 1.1985 level. Puzzling situation in the pair. We have the confirmation of the bullish moving averages cross today, but pair is below the 200-day moving average and it is capped byt it at the moment. Unless a new break of it (and a sustained move above it), the upward momentum will be halted for now.
Moving averages overview: USD has its 200-day moving average today at 1.2062. Pair confirms today the bullish moving averages cross.
Indicators watch: Indicators watch-level 1 (signal generator): USD Neutral - no signal – (flat). Indicators watch-level 2: USD Positive.
Eur/Gbp: At the time of this writing, the pair is trading around the 0.6860 level. Good recovery of the strong 0.6850 level. However, pair is still trading below the 200-day moving average, which would mark the real recovery on the upside for the pair. Furthermore, it would need to regain the shorter moving averages to build-in upward momentum. However, the current rebound has halted the current short moving averages move, which was in the direction of a bearish cross. That also could be supportive for the pair.
Moving averages overview: pair has its 200-day moving average at 0.6870 today. Pair is on a bullish cross by the 2 moving averages.
Indicators watch: Indicators watch-level 1 (signal generator): EUR Neutral. 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.
Markets Snapshot
Good morning everyone from FXstreet.com. The Crude oil closed around $56 yesterday, almost unchanged. In the US stock markets, the Dow Jones Industrial Average closed around 10.485, moving a bit higher.
Forex Technicals at a glance
Euro/Usd: At the time of this writing, the pair is trading around the 1.2930 level. Following some bullish signals, pair is rebounding today and looks quite firm against the greenback. Pair could rise up to 1.30, where we see a dynamic resistance laying today. However, the moving averages have crossed on the downside, and we should be having the confirmation of ths bearish cross tomorrow. Therefore, the selling pressure is likely to remain for quite a while in the pair now.
Moving averages overview: EUR has its 200-day moving average today at 1.2780. Pair has a bearish cross confirmed today.
Indicators watch: Indicators watch-level 1 (signal generator): EUR Neutral – no signal (flat). Indicators watch-level 2: EUR Neutral.
Gbp/Usd: At the time of this writing, the pair is trading around the 1.8845 level. We have the bearish moving averages cross confirmation today. Pair is firm against the greenback but with this bearish cross we should see the selling pressure staying in the pair for some time.
Moving averages overview: GBP has its 200-day moving average today at 1.8594. Pair confirms today the bearish cross now from the short moving averages.
Indicators watch: Indicators watch-level 1 (signal generator) : GBP Neutral – no signal (flat). Indicators watch-level 2: GBP Neutral-Negative.
Usd/Chf: At the time of this writing, the pair is trading around the 1.1985 level. Puzzling situation in the pair. We have the confirmation of the bullish moving averages cross today, but pair is below the 200-day moving average and it is capped byt it at the moment. Unless a new break of it (and a sustained move above it), the upward momentum will be halted for now.
Moving averages overview: USD has its 200-day moving average today at 1.2062. Pair confirms today the bullish moving averages cross.
Indicators watch: Indicators watch-level 1 (signal generator): USD Neutral - no signal – (flat). Indicators watch-level 2: USD Positive.
Eur/Gbp: At the time of this writing, the pair is trading around the 0.6860 level. Good recovery of the strong 0.6850 level. However, pair is still trading below the 200-day moving average, which would mark the real recovery on the upside for the pair. Furthermore, it would need to regain the shorter moving averages to build-in upward momentum. However, the current rebound has halted the current short moving averages move, which was in the direction of a bearish cross. That also could be supportive for the pair.
Moving averages overview: pair has its 200-day moving average at 0.6870 today. Pair is on a bullish cross by the 2 moving averages.
Indicators watch: Indicators watch-level 1 (signal generator): EUR Neutral. 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.
European Session, 11/4/2005
Markets Snapshot
Good morning everyone from FXstreet.com. The Crude oil closed around $56 yesterday, almost unchanged. In the US stock markets, the Dow Jones Industrial Average closed around 10.460, slipping below 10.500 again.
Forex Technicals at a glance
Euro/Usd: At the time of this writing, the pair is trading around the 1.2920 level. We had interesting price action on Friday. After testing again the 1.28 level (near the 200-day simple moving average magnet level), the single currency surged in late session action above 1.29, escaping for the second time the tough magnet test. However, we had the confirmation of the bearish cross by the shorter moving averages, proving the current momentum on the pair as bearish. It is important to highlight the fact that the long uptrend starting in 2002 can be considered as broken now, and unless the pair regains 1.31 again, the test of the 200-day simple moving average looks as the last support for the pair.
Moving averages overview: EUR has its 200-day moving average today at 1.2786. Pair has a bearish cross confirmed today.
Indicators watch: Indicators watch-level 1 (signal generator): EUR Neutral – no signal (flat). Indicators watch-level 2: EUR Neutral.
Gbp/Usd: At the time of this writing, the pair is trading around the 1.8845 level. Similar price action in the british pound against the USD. After declining below 1.87 in early trading, pair surged over 100 pips to close almost unchanged for the last 2 days, and just shy of the 20-day moving average. We have the confirmation of the bearish cross by the shorter moving averages, but the indicators don’t follow that direction and are neutral on the pair. I think it is better to stay aside on the pair for now.
Moving averages overview: GBP has its 200-day moving average today at 1.8597. Pair confirms today the bearish cross now from the short moving averages.
Indicators watch: Indicators watch-level 1 (signal generator) : GBP Neutral – no signal (flat). Indicators watch-level 2: GBP Neutral-Negative.
Usd/Chf: At the time of this writing, the pair is trading around the 1.1970 level. Price action is still unable to break and consolidate above the 200-day moving average. On Friday we were above that level in the major part of the session, but were unable to close at that level and slipped back down. If that level is not quickly broken back on the upside, we will consider that as a very hostile sign for the greenback, and further weakness won’t be ruled out in future analysis. Though shorter moving averages are coming closer to the big magnet, looking poised for a very bullish cross, price action must be supportive to give enough strength to the move. Indicators are not very supportive at the moment.
Moving averages overview: USD has its 200-day moving average today at 1.2059. Pair has confirmed a bullish moving averages cross.
Indicators watch: Indicators watch-level 1 (signal generator): USD Neutral - no signal – (flat). Indicators watch-level 2: USD Negative.
Eur/Gbp: At the time of this writing, the pair is trading around the 0.6865 level. Holding the key 0.6850 level for now, easing the bearish momentum. It looks rangebound for now, therefore staying aside of trading it looks as the best decision.
Moving averages overview: pair has its 200-day moving average at 0.6871 today. Pair is still on a bullish cross by the 2 moving averages.
Indicators watch: Indicators watch-level 1 (signal generator): EUR Neutral. 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.
Markets Snapshot
Good morning everyone from FXstreet.com. The Crude oil closed around $56 yesterday, almost unchanged. In the US stock markets, the Dow Jones Industrial Average closed around 10.460, slipping below 10.500 again.
Forex Technicals at a glance
Euro/Usd: At the time of this writing, the pair is trading around the 1.2920 level. We had interesting price action on Friday. After testing again the 1.28 level (near the 200-day simple moving average magnet level), the single currency surged in late session action above 1.29, escaping for the second time the tough magnet test. However, we had the confirmation of the bearish cross by the shorter moving averages, proving the current momentum on the pair as bearish. It is important to highlight the fact that the long uptrend starting in 2002 can be considered as broken now, and unless the pair regains 1.31 again, the test of the 200-day simple moving average looks as the last support for the pair.
Moving averages overview: EUR has its 200-day moving average today at 1.2786. Pair has a bearish cross confirmed today.
Indicators watch: Indicators watch-level 1 (signal generator): EUR Neutral – no signal (flat). Indicators watch-level 2: EUR Neutral.
Gbp/Usd: At the time of this writing, the pair is trading around the 1.8845 level. Similar price action in the british pound against the USD. After declining below 1.87 in early trading, pair surged over 100 pips to close almost unchanged for the last 2 days, and just shy of the 20-day moving average. We have the confirmation of the bearish cross by the shorter moving averages, but the indicators don’t follow that direction and are neutral on the pair. I think it is better to stay aside on the pair for now.
Moving averages overview: GBP has its 200-day moving average today at 1.8597. Pair confirms today the bearish cross now from the short moving averages.
Indicators watch: Indicators watch-level 1 (signal generator) : GBP Neutral – no signal (flat). Indicators watch-level 2: GBP Neutral-Negative.
Usd/Chf: At the time of this writing, the pair is trading around the 1.1970 level. Price action is still unable to break and consolidate above the 200-day moving average. On Friday we were above that level in the major part of the session, but were unable to close at that level and slipped back down. If that level is not quickly broken back on the upside, we will consider that as a very hostile sign for the greenback, and further weakness won’t be ruled out in future analysis. Though shorter moving averages are coming closer to the big magnet, looking poised for a very bullish cross, price action must be supportive to give enough strength to the move. Indicators are not very supportive at the moment.
Moving averages overview: USD has its 200-day moving average today at 1.2059. Pair has confirmed a bullish moving averages cross.
Indicators watch: Indicators watch-level 1 (signal generator): USD Neutral - no signal – (flat). Indicators watch-level 2: USD Negative.
Eur/Gbp: At the time of this writing, the pair is trading around the 0.6865 level. Holding the key 0.6850 level for now, easing the bearish momentum. It looks rangebound for now, therefore staying aside of trading it looks as the best decision.
Moving averages overview: pair has its 200-day moving average at 0.6871 today. Pair is still on a bullish cross by the 2 moving averages.
Indicators watch: Indicators watch-level 1 (signal generator): EUR Neutral. 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.
European Session, 12/4/2005
Markets Snapshot
Good morning everyone from FXstreet.com. The Crude oil closed around $54 yesterday, recovering some ground. In the US stock markets, the Dow Jones Industrial Average closed around 10.450, holding below 10.500.
Forex Technicals at a glance
Euro/Usd: At the time of this writing, the pair is trading around the 1.2990 level. Interesting price action, driving the pair to the test of the strong 1.3015-30 area, with the 20-day simple moving average acting as the first resistance level on the way. With today’s key Trade Balance number (12:30GMT) on the release, I am sure we will see volatility increasing. Since there won’t be a clear resumption of the bullish momentum on the single currency unless we break above 1.32, we might see the use of the trade deficit number for a good dollar’s play today. We will see it in few hours time.
Moving averages overview: EUR has its 200-day moving average today at 1.2789. Pair has a bearish cross by the shorter moving averages.
Indicators watch: Indicators watch-level 1 (signal generator): EUR Neutral – no signal (flat). Indicators watch-level 2: EUR Neutral.
Gbp/Usd: At the time of this writing, the pair is trading around the 1.8920 level. Pair has broken the 20-day moving average to the upside and now it is fighting with the 50-day one. The number due out today will clearify this situation, but it is interesting to see that since we had the bearish cross by the shorter moving averages we haven’t seen much decline on the pair. Since we are testing the 50-day moving average and we hold a bearish cross in the pair, sellers could be attracted and drive the pair lower.
Moving averages overview: GBP has its 200-day moving average today at 1.86. Pair has a bearish cross now from the short moving averages.
Indicators watch: Indicators watch-level 1 (signal generator) : GBP Neutral – no signal (flat). Indicators watch-level 2: GBP Neutral-Negative.
Usd/Chf: At the time of this writing, the pair is trading around the 1.1915 level. Despite we still have a bullish cross for the pair, its price action must regain momentum (maybe with today’s data) to keep the USD view supportive for the moment. After braking back down the 200-day moving average, pair hasn’t been unable to stop the sellers, and a quick reaction is needed (maybe in front of the 50-day moving average) to change the situation.
Moving averages overview: USD has its 200-day moving average today at 1.2057. Pair has confirmed a bullish moving averages cross.
Indicators watch: Indicators watch-level 1 (signal generator): USD Neutral - no signal – (flat). Indicators watch-level 2: USD Negative.
Eur/Gbp: At the time of this writing, the pair is trading around the 0.6865 level. Pair has turned the bullish cross to a bearish cross and it is traidng below the 200-day simple moving average, so selling pressure could resume soon. However, indicators are showing some strength for the pair at the moment, so the overall picture looks very indecisive.
Indicators watch: Indicators watch-level 1 (signal generator): EUR Neutral. 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.
Markets Snapshot
Good morning everyone from FXstreet.com. The Crude oil closed around $54 yesterday, recovering some ground. In the US stock markets, the Dow Jones Industrial Average closed around 10.450, holding below 10.500.
Forex Technicals at a glance
Euro/Usd: At the time of this writing, the pair is trading around the 1.2990 level. Interesting price action, driving the pair to the test of the strong 1.3015-30 area, with the 20-day simple moving average acting as the first resistance level on the way. With today’s key Trade Balance number (12:30GMT) on the release, I am sure we will see volatility increasing. Since there won’t be a clear resumption of the bullish momentum on the single currency unless we break above 1.32, we might see the use of the trade deficit number for a good dollar’s play today. We will see it in few hours time.
Moving averages overview: EUR has its 200-day moving average today at 1.2789. Pair has a bearish cross by the shorter moving averages.
Indicators watch: Indicators watch-level 1 (signal generator): EUR Neutral – no signal (flat). Indicators watch-level 2: EUR Neutral.
Gbp/Usd: At the time of this writing, the pair is trading around the 1.8920 level. Pair has broken the 20-day moving average to the upside and now it is fighting with the 50-day one. The number due out today will clearify this situation, but it is interesting to see that since we had the bearish cross by the shorter moving averages we haven’t seen much decline on the pair. Since we are testing the 50-day moving average and we hold a bearish cross in the pair, sellers could be attracted and drive the pair lower.
Moving averages overview: GBP has its 200-day moving average today at 1.86. Pair has a bearish cross now from the short moving averages.
Indicators watch: Indicators watch-level 1 (signal generator) : GBP Neutral – no signal (flat). Indicators watch-level 2: GBP Neutral-Negative.
Usd/Chf: At the time of this writing, the pair is trading around the 1.1915 level. Despite we still have a bullish cross for the pair, its price action must regain momentum (maybe with today’s data) to keep the USD view supportive for the moment. After braking back down the 200-day moving average, pair hasn’t been unable to stop the sellers, and a quick reaction is needed (maybe in front of the 50-day moving average) to change the situation.
Moving averages overview: USD has its 200-day moving average today at 1.2057. Pair has confirmed a bullish moving averages cross.
Indicators watch: Indicators watch-level 1 (signal generator): USD Neutral - no signal – (flat). Indicators watch-level 2: USD Negative.
Eur/Gbp: At the time of this writing, the pair is trading around the 0.6865 level. Pair has turned the bullish cross to a bearish cross and it is traidng below the 200-day simple moving average, so selling pressure could resume soon. However, indicators are showing some strength for the pair at the moment, so the overall picture looks very indecisive.
Indicators watch: Indicators watch-level 1 (signal generator): EUR Neutral. 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.
European Session, 13/4/2005
Markets Snapshot
Good morning everyone from FXstreet.com. The Crude oil closed around $51.40 yesterday, slipping over $2 and proving right the bearish signals from its indicators on a daily-basis. In the US stock markets, the Dow Jones Industrial Average closed around 10.510, bouncing back up after re-testing the strong support of the 10.350 area.
Forex Technicals at a glance
Euro/Usd: At the time of this writing, the pair is trading around the 1.2940 level. Yesterday session was a clear example of how the markets can be driven in one direction or another and have always a reason to justify the move. After the release of the all-time trade deficit record in the US, the USD surged, on comments saying that the focus was on interest rates, and the possible rate hike in next FOMC meetings. But, to everyone’s surprise, FOMC minutes later in the session caused a USD sell-off across the board. The reason? The fact that the federal reserve may not be raising interest rates by 50bp! Well, that is pretty much in line with what financial markets are in nature: a place where everything is what it is and not what it looked to be. But hey! That’s why technical analysis was created. It was a way to skip all that noise coming from the economic environment. Despite fundamentals have to be taken always seriously, they can’t rule the day-to-day trading when what we do is to look charts. When we look to the charts, we have to take into account price formations, and that is a valuable analysis instrument at the moment. From that point of view, the EUR hasn’t even break the 20-day simple moving average, therefore more selling pressure can’t be ruled out, despite indicators are not supporting a bearish view at the moment.
Moving averages overview: EUR has its 200-day moving average today at 1.2791. Pair has a bearish cross by the shorter moving averages.
Indicators watch: Indicators watch-level 1 (signal generator): EUR Neutral – no signal (flat). Indicators watch-level 2: EUR Neutral.
Gbp/Usd: At the time of this writing, the pair is trading around the 1.8940 level. Its price action yesterday showed more strength than EUR. It dipped down with news, but the move back up put the pair at the highs for the session, but still below the 50-day moving average, which is acting as a good resistance for the pair right now. Not much more to add to the pair now.
Moving averages overview: GBP has its 200-day moving average today at 1.8601. Pair has a bearish cross now from the short moving averages.
Indicators watch: Indicators watch-level 1 (signal generator) : GBP Neutral – no signal (flat). Indicators watch-level 2: GBP Neutral-Negative.
Usd/Chf: At the time of this writing, the pair is trading around the 1.1960 level. Pair is being supported by the 20-day moving average now, and despite being rejected once again by the 200-day simple moving average, its overall picture is bullish, and is acting once again as the leader for the next USD move. The momentum remains bullish and further gains are to be expected in coming sessions. However, a clear break of the 200-day simple moving average would be desirable. The 20-day moving average is only 100 pips away of the 200-day today, so we are near to see a very bullish signal for the greenback, should it be confirmed. Interesting to note the fact taht in dicators, at the moment, are not supporting the bullish momentum.
Moving averages overview: USD has its 200-day moving average today at 1.2056. Pair has confirmed a bullish moving averages cross.
Indicators watch: Indicators watch-level 1 (signal generator): USD Neutral - no signal – (flat). Indicators watch-level 2: USD Negative.
Eur/Gbp: At the time of this writing, the pair is trading around the 0.6835 level. The bearish cross and the fact that the price action is below the 200-day moving average led the pair to break down again the strong 0.6850 support, and if it is not quickly regained, its downside momentum will accelerate.
Moving averages overview: Pair has its 200-day moving average today at 0.6873. Pair has a bearish cross now from the short moving averages.
Indicators watch: Indicators watch-level 1 (signal generator): EUR Neutral. 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.
Markets Snapshot
Good morning everyone from FXstreet.com. The Crude oil closed around $51.40 yesterday, slipping over $2 and proving right the bearish signals from its indicators on a daily-basis. In the US stock markets, the Dow Jones Industrial Average closed around 10.510, bouncing back up after re-testing the strong support of the 10.350 area.
Forex Technicals at a glance
Euro/Usd: At the time of this writing, the pair is trading around the 1.2940 level. Yesterday session was a clear example of how the markets can be driven in one direction or another and have always a reason to justify the move. After the release of the all-time trade deficit record in the US, the USD surged, on comments saying that the focus was on interest rates, and the possible rate hike in next FOMC meetings. But, to everyone’s surprise, FOMC minutes later in the session caused a USD sell-off across the board. The reason? The fact that the federal reserve may not be raising interest rates by 50bp! Well, that is pretty much in line with what financial markets are in nature: a place where everything is what it is and not what it looked to be. But hey! That’s why technical analysis was created. It was a way to skip all that noise coming from the economic environment. Despite fundamentals have to be taken always seriously, they can’t rule the day-to-day trading when what we do is to look charts. When we look to the charts, we have to take into account price formations, and that is a valuable analysis instrument at the moment. From that point of view, the EUR hasn’t even break the 20-day simple moving average, therefore more selling pressure can’t be ruled out, despite indicators are not supporting a bearish view at the moment.
Moving averages overview: EUR has its 200-day moving average today at 1.2791. Pair has a bearish cross by the shorter moving averages.
Indicators watch: Indicators watch-level 1 (signal generator): EUR Neutral – no signal (flat). Indicators watch-level 2: EUR Neutral.
Gbp/Usd: At the time of this writing, the pair is trading around the 1.8940 level. Its price action yesterday showed more strength than EUR. It dipped down with news, but the move back up put the pair at the highs for the session, but still below the 50-day moving average, which is acting as a good resistance for the pair right now. Not much more to add to the pair now.
Moving averages overview: GBP has its 200-day moving average today at 1.8601. Pair has a bearish cross now from the short moving averages.
Indicators watch: Indicators watch-level 1 (signal generator) : GBP Neutral – no signal (flat). Indicators watch-level 2: GBP Neutral-Negative.
Usd/Chf: At the time of this writing, the pair is trading around the 1.1960 level. Pair is being supported by the 20-day moving average now, and despite being rejected once again by the 200-day simple moving average, its overall picture is bullish, and is acting once again as the leader for the next USD move. The momentum remains bullish and further gains are to be expected in coming sessions. However, a clear break of the 200-day simple moving average would be desirable. The 20-day moving average is only 100 pips away of the 200-day today, so we are near to see a very bullish signal for the greenback, should it be confirmed. Interesting to note the fact taht in dicators, at the moment, are not supporting the bullish momentum.
Moving averages overview: USD has its 200-day moving average today at 1.2056. Pair has confirmed a bullish moving averages cross.
Indicators watch: Indicators watch-level 1 (signal generator): USD Neutral - no signal – (flat). Indicators watch-level 2: USD Negative.
Eur/Gbp: At the time of this writing, the pair is trading around the 0.6835 level. The bearish cross and the fact that the price action is below the 200-day moving average led the pair to break down again the strong 0.6850 support, and if it is not quickly regained, its downside momentum will accelerate.
Moving averages overview: Pair has its 200-day moving average today at 0.6873. Pair has a bearish cross now from the short moving averages.
Indicators watch: Indicators watch-level 1 (signal generator): EUR Neutral. 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.
European Session, 14/4/2005
Markets Snapshot
Good morning everyone from FXstreet.com. The Crude oil closed around $50.50 yesterday, slipping over $2 again. In the US stock markets, the Dow Jones Industrial Average closed around 10.400, loosing back and looking to threat the support area again.
Forex Technicals at a glance
Euro/Usd: At the time of this writing, the pair is trading around the 1.2870 level. Yesterday we had the same price action as the day before. The dollar surged after worse-than-expected data, but gains were limited and the single currency managed to hold back. However, this time the counter move was also limited (confirming the lower highs trend in the last sessions) and we have the pair diving today below 1.29 again, with the 200-day moving average still looking as a reasonable place to be visited in the coming sessions. Its magnet, situated today at 1.2794, looks strong enough to attract price action if the 20&50-day moving averages are not violated. Current trend remains bearish and only a move above 1.31 negates this view.
Moving averages overview: EUR has its 200-day moving average today at 1.2794. Pair has a bearish cross by the shorter moving averages.
Indicators watch: Indicators watch-level 1 (signal generator): EUR Neutral – no signal (flat). Indicators watch-level 2: EUR Neutral.
Gbp/Usd: At the time of this writing, the pair is trading around the 1.8875 level. Pair has attempted, again, to break the 50-day moving average, unsuccessfully. That exposes the british currency to further weakness against the greenback, and we will have the confirmation if the 20-day moving average is broken on the downside again. The 200-day magnet is far from current levels, but nothing can’t be ruled out at the moment.
Moving averages overview: GBP has its 200-day moving average today at 1.8603. Pair has a bearish cross now from the short moving averages. Pair is above 20-day moving average now.
Indicators watch: Indicators watch-level 1 (signal generator) : GBP Neutral – no signal (flat). Indicators watch-level 2: GBP Neutral-Negative.
Usd/Chf: At the time of this writing, the pair is trading around the 1.2050 level. Is this the final attempt and the break of the 200-day simple moving average is next? Well, it really looks like it. The 20-day moving average has been supporting the pair so well all this move and it has stopped any rejection from the big magnet, providing the uptrend with a strong support, which definitely is attracting longers to jump in this train. I think that if we break it this time, it will be the good one. Only a break below 1.1950 would negate this view.
Moving averages overview: USD has its 200-day moving average today at 1.2055. Pair has confirmed a bullish moving averages cross.
Indicators watch: Indicators watch-level 1 (signal generator): USD Neutral - no signal – (flat). Indicators watch-level 2: USD Negative.
Eur/Gbp: At the time of this writing, the pair is trading around the 0.6820 level. More downside near the 0.68 support level in the pair. It has recovered some ground, and some bullish signals coming from the intraday timeframes may lift the pair for a while. However, while below 0.6890 it looks poised for more downside.
Moving averages overview: Pair has its 200-day moving average today at 0.6874. Pair has a bearish cross now from the short moving averages.
Indicators watch: Indicators watch-level 1 (signal generator): EUR Neutral. 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.
Markets Snapshot
Good morning everyone from FXstreet.com. The Crude oil closed around $50.50 yesterday, slipping over $2 again. In the US stock markets, the Dow Jones Industrial Average closed around 10.400, loosing back and looking to threat the support area again.
Forex Technicals at a glance
Euro/Usd: At the time of this writing, the pair is trading around the 1.2870 level. Yesterday we had the same price action as the day before. The dollar surged after worse-than-expected data, but gains were limited and the single currency managed to hold back. However, this time the counter move was also limited (confirming the lower highs trend in the last sessions) and we have the pair diving today below 1.29 again, with the 200-day moving average still looking as a reasonable place to be visited in the coming sessions. Its magnet, situated today at 1.2794, looks strong enough to attract price action if the 20&50-day moving averages are not violated. Current trend remains bearish and only a move above 1.31 negates this view.
Moving averages overview: EUR has its 200-day moving average today at 1.2794. Pair has a bearish cross by the shorter moving averages.
Indicators watch: Indicators watch-level 1 (signal generator): EUR Neutral – no signal (flat). Indicators watch-level 2: EUR Neutral.
Gbp/Usd: At the time of this writing, the pair is trading around the 1.8875 level. Pair has attempted, again, to break the 50-day moving average, unsuccessfully. That exposes the british currency to further weakness against the greenback, and we will have the confirmation if the 20-day moving average is broken on the downside again. The 200-day magnet is far from current levels, but nothing can’t be ruled out at the moment.
Moving averages overview: GBP has its 200-day moving average today at 1.8603. Pair has a bearish cross now from the short moving averages. Pair is above 20-day moving average now.
Indicators watch: Indicators watch-level 1 (signal generator) : GBP Neutral – no signal (flat). Indicators watch-level 2: GBP Neutral-Negative.
Usd/Chf: At the time of this writing, the pair is trading around the 1.2050 level. Is this the final attempt and the break of the 200-day simple moving average is next? Well, it really looks like it. The 20-day moving average has been supporting the pair so well all this move and it has stopped any rejection from the big magnet, providing the uptrend with a strong support, which definitely is attracting longers to jump in this train. I think that if we break it this time, it will be the good one. Only a break below 1.1950 would negate this view.
Moving averages overview: USD has its 200-day moving average today at 1.2055. Pair has confirmed a bullish moving averages cross.
Indicators watch: Indicators watch-level 1 (signal generator): USD Neutral - no signal – (flat). Indicators watch-level 2: USD Negative.
Eur/Gbp: At the time of this writing, the pair is trading around the 0.6820 level. More downside near the 0.68 support level in the pair. It has recovered some ground, and some bullish signals coming from the intraday timeframes may lift the pair for a while. However, while below 0.6890 it looks poised for more downside.
Moving averages overview: Pair has its 200-day moving average today at 0.6874. Pair has a bearish cross now from the short moving averages.
Indicators watch: Indicators watch-level 1 (signal generator): EUR Neutral. 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.
European Session, 15/4/2005
Markets Snapshot
Good morning everyone from FXstreet.com. The Crude oil closed around $51 yesterday, recovering a bit of ground but still looking weak while below $53. In the US stock markets, the Dow Jones Industrial Average closed around 10.275, breaking strong supports and looking poised for further weakness in coming sessions.
Forex Technicals at a glance
Euro/Usd: At the time of this writing, the pair is trading around the 1.2835 level. The test of the 200-day simple moving average magnet, that we considered as inevitable, finally happened. The EUR dipped down it, but quickly regained it and it is now safely trading above it, but the warning signal has already appeared. Today’s economic data can confirm this view and definitely break the magnet on the downside, accelerating the selling pressure on the pair. The moving averages are offering at this moment more clear signals than the indicators, which remain quite neutral on the pair.
Moving averages overview: EUR has its 200-day moving average today at 1.2796. Pair has a bearish cross by the shorter moving averages.
Indicators watch: Indicators watch-level 1 (signal generator): EUR Neutral – no signal (flat). Indicators watch-level 2: EUR Neutral.
Gbp/Usd: At the time of this writing, the pair is trading around the 1.8820 level. The british currency is barely holding above the 20-day moving aveage, after having been rejected by the 50-day moving average in previous sessions. The attempt to test the 200-day magnet, though far, looks probable at this stage, but first, the break of the shortest moving average is needed.
Moving averages overview: GBP has its 200-day moving average today at 1.8604. Pair has a bearish cross now from the short moving averages. Pair is above 20-day moving average now.
Indicators watch: Indicators watch-level 1 (signal generator) : GBP Neutral – no signal (flat). Indicators watch-level 2: GBP Neutral-Negative.
Usd/Chf: At the time of this writing, the pair is trading around the 1.2105 level. Acting as the leader in currency trading these days, the USD has already broken the 200-day moving average magnet on the upside, and it is safely trading above it at the moment. If it holds in the following sessions, it will be marking a trend reversal on a daily basis. The indicators look quite neutral on the pair, therefore not much can be added at this point.
Moving averages overview: USD has its 200-day moving average today at 1.2054. Pair has confirmed a bullish moving averages cross.
Indicators watch: Indicators watch-level 1 (signal generator): USD Neutral - no signal – (flat). Indicators watch-level 2: USD Negative.
Eur/Gbp: At the time of this writing, the pair is trading around the 0.6815 level. Pair tested and held the 0.68 level, as widely expected. There is some strength in the pair if we look at the shorter timeframe charts. However, we have a bearish cross confirmed today by the moving averages.
Moving averages overview: Pair has its 200-day moving average today at 0.6875. Pair has a bearish cross now from the short moving averages confirmed today.
Indicators watch: Indicators watch-level 1 (signal generator): EUR Neutral. 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.
Markets Snapshot
Good morning everyone from FXstreet.com. The Crude oil closed around $51 yesterday, recovering a bit of ground but still looking weak while below $53. In the US stock markets, the Dow Jones Industrial Average closed around 10.275, breaking strong supports and looking poised for further weakness in coming sessions.
Forex Technicals at a glance
Euro/Usd: At the time of this writing, the pair is trading around the 1.2835 level. The test of the 200-day simple moving average magnet, that we considered as inevitable, finally happened. The EUR dipped down it, but quickly regained it and it is now safely trading above it, but the warning signal has already appeared. Today’s economic data can confirm this view and definitely break the magnet on the downside, accelerating the selling pressure on the pair. The moving averages are offering at this moment more clear signals than the indicators, which remain quite neutral on the pair.
Moving averages overview: EUR has its 200-day moving average today at 1.2796. Pair has a bearish cross by the shorter moving averages.
Indicators watch: Indicators watch-level 1 (signal generator): EUR Neutral – no signal (flat). Indicators watch-level 2: EUR Neutral.
Gbp/Usd: At the time of this writing, the pair is trading around the 1.8820 level. The british currency is barely holding above the 20-day moving aveage, after having been rejected by the 50-day moving average in previous sessions. The attempt to test the 200-day magnet, though far, looks probable at this stage, but first, the break of the shortest moving average is needed.
Moving averages overview: GBP has its 200-day moving average today at 1.8604. Pair has a bearish cross now from the short moving averages. Pair is above 20-day moving average now.
Indicators watch: Indicators watch-level 1 (signal generator) : GBP Neutral – no signal (flat). Indicators watch-level 2: GBP Neutral-Negative.
Usd/Chf: At the time of this writing, the pair is trading around the 1.2105 level. Acting as the leader in currency trading these days, the USD has already broken the 200-day moving average magnet on the upside, and it is safely trading above it at the moment. If it holds in the following sessions, it will be marking a trend reversal on a daily basis. The indicators look quite neutral on the pair, therefore not much can be added at this point.
Moving averages overview: USD has its 200-day moving average today at 1.2054. Pair has confirmed a bullish moving averages cross.
Indicators watch: Indicators watch-level 1 (signal generator): USD Neutral - no signal – (flat). Indicators watch-level 2: USD Negative.
Eur/Gbp: At the time of this writing, the pair is trading around the 0.6815 level. Pair tested and held the 0.68 level, as widely expected. There is some strength in the pair if we look at the shorter timeframe charts. However, we have a bearish cross confirmed today by the moving averages.
Moving averages overview: Pair has its 200-day moving average today at 0.6875. Pair has a bearish cross now from the short moving averages confirmed today.
Indicators watch: Indicators watch-level 1 (signal generator): EUR Neutral. 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.
European Session, 18/4/2005
Markets Snapshot
Good morning everyone from FXstreet.com. The Crude oil closed around $50 yesterday, testing the psychological level on its way down. In the US stock markets, the Dow Jones Industrial Average closed around 10.085, confirming the break of the strong support a bearish signal in place.
Forex Technicals at a glance
Euro/Usd: At the time of this writing, the pair is trading around the 1.2965 level. After escaping the break of the key 200-day simple moving average, pair is currently trading above the 20-day moving average and further gains to the 50-day one can’t be ruled out. However, pair is currently in no man’s land and swings up and down are to be expected unless key levels are definitely broken. Indicators are also mixed on the pair at this moment.
Moving averages overview: EUR has its 200-day moving average today at 1.2802. Pair has a bearish cross by the shorter moving averages. Pair is above 20-day moving average now.
Indicators watch: Indicators watch-level 1 (signal generator): EUR Neutral – no signal (flat). Indicators watch-level 2: EUR Neutral.
Gbp/Usd: At the time of this writing, the pair is trading around the 1.8960 level. Despite the current strength, the british curency is unable to break the 50-day moving average and failing to do so for the third time would expose it to considerable weakness. Like in the EUR case, we are in a bit of a no man’s land with the pair and unless 1.92 is broken on the upside or the 200-day simple moving average in the downside, we won’t have a clear market direction for the pair.
Moving averages overview: GBP has its 200-day moving average today at 1.8608. Pair has a bearish cross now from the short moving averages. Pair is above 20-day moving average now.
Indicators watch: Indicators watch-level 1 (signal generator) : GBP Neutral – no signal (flat). Indicators watch-level 2: GBP Neutral-Negative.
Usd/Chf: At the time of this writing, the pair is trading around the 1.1925 level. This pair is still puzzling me. For the second time we just saw the pair breaking up and breaking back down the 200-dsay simple moving average, in both cases by some distance. Pair is currently trading far below that level and 1.1850 looks as the next target on the downside. The funny thing is that this dump occurs when the 20-day moving average was just about to cross the 200-dsay on the upside, for a mid term bullish signal. Pair, in any case, has to hold above the 1.16 to stay on a positive sentiment.
Moving averages overview: USD has its 200-day moving average today at 1.2050. Pair has confirmed a bullish moving averages cross.
Indicators watch: Indicators watch-level 1 (signal generator): USD Neutral - no signal – (flat). Indicators watch-level 2: USD Negative.
Eur/Gbp: At the time of this writing, the pair is trading around the 0.6835 level. After holding the 0.68 support level, pair did advance up to 0.6840, where the moev has been halted for now. First mildly strong resistance level is found around 0.6865. We have slight bullish signal coming from the indicators watch level 1, which could help the pair to gain some momentum.
Moving averages overview: Pair has its 200-day moving average today at 0.6876. Pair has a bearish cross now from the short moving averages confirmed today.
Indicators watch: Indicators watch-level 1 (signal generator): EUR Positive (no signal). 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.
Markets Snapshot
Good morning everyone from FXstreet.com. The Crude oil closed around $50 yesterday, testing the psychological level on its way down. In the US stock markets, the Dow Jones Industrial Average closed around 10.085, confirming the break of the strong support a bearish signal in place.
Forex Technicals at a glance
Euro/Usd: At the time of this writing, the pair is trading around the 1.2965 level. After escaping the break of the key 200-day simple moving average, pair is currently trading above the 20-day moving average and further gains to the 50-day one can’t be ruled out. However, pair is currently in no man’s land and swings up and down are to be expected unless key levels are definitely broken. Indicators are also mixed on the pair at this moment.
Moving averages overview: EUR has its 200-day moving average today at 1.2802. Pair has a bearish cross by the shorter moving averages. Pair is above 20-day moving average now.
Indicators watch: Indicators watch-level 1 (signal generator): EUR Neutral – no signal (flat). Indicators watch-level 2: EUR Neutral.
Gbp/Usd: At the time of this writing, the pair is trading around the 1.8960 level. Despite the current strength, the british curency is unable to break the 50-day moving average and failing to do so for the third time would expose it to considerable weakness. Like in the EUR case, we are in a bit of a no man’s land with the pair and unless 1.92 is broken on the upside or the 200-day simple moving average in the downside, we won’t have a clear market direction for the pair.
Moving averages overview: GBP has its 200-day moving average today at 1.8608. Pair has a bearish cross now from the short moving averages. Pair is above 20-day moving average now.
Indicators watch: Indicators watch-level 1 (signal generator) : GBP Neutral – no signal (flat). Indicators watch-level 2: GBP Neutral-Negative.
Usd/Chf: At the time of this writing, the pair is trading around the 1.1925 level. This pair is still puzzling me. For the second time we just saw the pair breaking up and breaking back down the 200-dsay simple moving average, in both cases by some distance. Pair is currently trading far below that level and 1.1850 looks as the next target on the downside. The funny thing is that this dump occurs when the 20-day moving average was just about to cross the 200-dsay on the upside, for a mid term bullish signal. Pair, in any case, has to hold above the 1.16 to stay on a positive sentiment.
Moving averages overview: USD has its 200-day moving average today at 1.2050. Pair has confirmed a bullish moving averages cross.
Indicators watch: Indicators watch-level 1 (signal generator): USD Neutral - no signal – (flat). Indicators watch-level 2: USD Negative.
Eur/Gbp: At the time of this writing, the pair is trading around the 0.6835 level. After holding the 0.68 support level, pair did advance up to 0.6840, where the moev has been halted for now. First mildly strong resistance level is found around 0.6865. We have slight bullish signal coming from the indicators watch level 1, which could help the pair to gain some momentum.
Moving averages overview: Pair has its 200-day moving average today at 0.6876. Pair has a bearish cross now from the short moving averages confirmed today.
Indicators watch: Indicators watch-level 1 (signal generator): EUR Positive (no signal). 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.
European Session, 19/4/2005
Markets Snapshot
Good morning everyone from FXstreet.com. The Crude oil closed around $50.60 yesterday, holding the psychological level for now. In the US stock markets, the Dow Jones Industrial Average closed around 10.070, losing a bit of ground but managing to hold above the 10k level.
Forex Technicals at a glance
Euro/Usd: At the time of this writing, the pair is trading around the 1.3010 level. Further gains for the single currency, following the solid rally in yesterday’s session. Technical picture is currently helped by the geopolitical uncertainty that the China-Japan conflict is showing. However, and despite all the fundamental picture that we have now in front of our eyes, the move of the EUR can be considered as “normal” after holding the 200-day simple moving average. However, the picture is still gloomy for the european currency. Despite the voices calling for a 1.40 raise once again, I prefer to say that we are currently in a more favourable environment for the USD than for the EUR. This picture will change if the latter manages to break and stay above 1.3150, but that level is far from where we stand at the moment. So, in short, we are in no man’s land at the moment, where any spike can be considered as the resumption of the downtrend or the final rise, but, as said in previous reports, unless key levels are definitely broken, we won’t be offered good risk/reward trades.
Moving averages overview: EUR has its 200-day moving average today at 1.2805. Pair has a bearish cross by the shorter moving averages. Pair is above 20-day moving average now.
Indicators watch: Indicators watch-level 1 (signal generator): EUR Neutral – no signal (flat). Indicators watch-level 2: EUR Neutral.
Gbp/Usd: At the time of this writing, the pair is trading around the 1.9075 level. Pair is showing more strength day after day, and has finally broken the 50-day moving average on the upside. However, pair is far from breaking the bearish trendline that was originated in late 2004. Therefore, unless a break of the 1.93 level is seen, further weakness can’t be ruled out for the pair. Some indicators are beginning to show that possibility too, so we may have a false break on the upside in place. One more thing that could hurt the GBP at the present is the bearish indications that its GBP/JPY cross is giving.
Moving averages overview: GBP has its 200-day moving average today at 1.8610. Pair has a bearish cross now from the short moving averages. Pair is above both moving averages now.
Indicators watch: Indicators watch-level 1 (signal generator) : GBP Neutral – no signal (flat). Indicators watch-level 2: GBP Neutral-Negative.
Usd/Chf: At the time of this writing, the pair is trading around the 1.1895 level. Pair did exactly what we were waiting for. It tested the 50-day moving average at 1.1850, and now is bouncing off that level, showing that USD bulls are fighting hard to keep the dollar in good shape. Therefore, and acting once again as the leader in the currency field, I think that if USD manages to go back up and do again a test of the 200-day moving average, it will be the last one and the bullish momentum will stay for some time.
Moving averages overview: USD has its 200-day moving average today at 1.2048. Pair has confirmed a bullish moving averages cross, but is only above the 50-day one now.
Indicators watch: Indicators watch-level 1 (signal generator): USD Neutral - no signal – (flat). Indicators watch-level 2: USD Neutral.
Eur/Gbp: At the time of this writing, the pair is trading around the 0.6815 level. The strength of the pound across the board has left the cross again exposed to a test of the 0.68 level. It is yo-yo trading at the moment and not much more can be added. Current range: 0.68-0.6850.
Moving averages overview: Pair has its 200-day moving average today at 0.6876. Pair has a bearish cross now from the short moving averages confirmed today.
Indicators watch: Indicators watch-level 1 (signal generator): EUR Neutral-Positive (no signal). 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.
Markets Snapshot
Good morning everyone from FXstreet.com. The Crude oil closed around $50.60 yesterday, holding the psychological level for now. In the US stock markets, the Dow Jones Industrial Average closed around 10.070, losing a bit of ground but managing to hold above the 10k level.
Forex Technicals at a glance
Euro/Usd: At the time of this writing, the pair is trading around the 1.3010 level. Further gains for the single currency, following the solid rally in yesterday’s session. Technical picture is currently helped by the geopolitical uncertainty that the China-Japan conflict is showing. However, and despite all the fundamental picture that we have now in front of our eyes, the move of the EUR can be considered as “normal” after holding the 200-day simple moving average. However, the picture is still gloomy for the european currency. Despite the voices calling for a 1.40 raise once again, I prefer to say that we are currently in a more favourable environment for the USD than for the EUR. This picture will change if the latter manages to break and stay above 1.3150, but that level is far from where we stand at the moment. So, in short, we are in no man’s land at the moment, where any spike can be considered as the resumption of the downtrend or the final rise, but, as said in previous reports, unless key levels are definitely broken, we won’t be offered good risk/reward trades.
Moving averages overview: EUR has its 200-day moving average today at 1.2805. Pair has a bearish cross by the shorter moving averages. Pair is above 20-day moving average now.
Indicators watch: Indicators watch-level 1 (signal generator): EUR Neutral – no signal (flat). Indicators watch-level 2: EUR Neutral.
Gbp/Usd: At the time of this writing, the pair is trading around the 1.9075 level. Pair is showing more strength day after day, and has finally broken the 50-day moving average on the upside. However, pair is far from breaking the bearish trendline that was originated in late 2004. Therefore, unless a break of the 1.93 level is seen, further weakness can’t be ruled out for the pair. Some indicators are beginning to show that possibility too, so we may have a false break on the upside in place. One more thing that could hurt the GBP at the present is the bearish indications that its GBP/JPY cross is giving.
Moving averages overview: GBP has its 200-day moving average today at 1.8610. Pair has a bearish cross now from the short moving averages. Pair is above both moving averages now.
Indicators watch: Indicators watch-level 1 (signal generator) : GBP Neutral – no signal (flat). Indicators watch-level 2: GBP Neutral-Negative.
Usd/Chf: At the time of this writing, the pair is trading around the 1.1895 level. Pair did exactly what we were waiting for. It tested the 50-day moving average at 1.1850, and now is bouncing off that level, showing that USD bulls are fighting hard to keep the dollar in good shape. Therefore, and acting once again as the leader in the currency field, I think that if USD manages to go back up and do again a test of the 200-day moving average, it will be the last one and the bullish momentum will stay for some time.
Moving averages overview: USD has its 200-day moving average today at 1.2048. Pair has confirmed a bullish moving averages cross, but is only above the 50-day one now.
Indicators watch: Indicators watch-level 1 (signal generator): USD Neutral - no signal – (flat). Indicators watch-level 2: USD Neutral.
Eur/Gbp: At the time of this writing, the pair is trading around the 0.6815 level. The strength of the pound across the board has left the cross again exposed to a test of the 0.68 level. It is yo-yo trading at the moment and not much more can be added. Current range: 0.68-0.6850.
Moving averages overview: Pair has its 200-day moving average today at 0.6876. Pair has a bearish cross now from the short moving averages confirmed today.
Indicators watch: Indicators watch-level 1 (signal generator): EUR Neutral-Positive (no signal). 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.
European Session, 20/4/2005
Markets Snapshot
Good morning everyone from FXstreet.com. The Crude is near $54 again, after holding the $50 psychological level. In the US stock markets, the Dow Jones Industrial Average closed around 10.125, a bit of relief after previous losses.
Forex Technicals at a glance
Euro/Usd: At the time of this writing, the pair is trading around the 1.3045 level. Not much to be added to yesterday’s report. Price made another mini-rally and tried to reach the 1.31 level, but failed by some distance, capped by the 50-day resistance, situated around 1.3080. As pair moves up, we can clearly see the difficulties the EUR is finding in gaining real strength against the dollar. Taking into account the current geopolitical tensions between China-Japan, that if anything they should be dollar negative, the single currency is only gaining in marginal percentages. It remains weak while below 1.3150, therefore previous view still valid. Indicators are still mildly-positive for the pair.
Moving averages overview: EUR has its 200-day moving average today at 1.2808. Pair has a bearish cross by the shorter moving averages. Pair is above 20-day moving average now.
Indicators watch: Indicators watch-level 1 (signal generator): EUR Positive – no signal (flat). Indicators watch-level 2: EUR Neutral.
Gbp/Usd: At the time of this writing, the pair is trading around the 1.9170 level. Pair kept on gaining momentum and it is now seriously testing the downtrend line from december, 2004. Should it be broken on a closing basis, we could be talking of the start of a real bullish momentum for the british currency. We will see. Today, 8:30am GMT, we have the release of the Bank of England Minutes and I think that will drive the market either way. Though bearish view is preferred since we have a bearish trendline working, pair would need to go back below 1.89 to confirm this view by offering good risk/reward selling opportunities.
Moving averages overview: GBP has its 200-day moving average today at 1.8613. Pair has a bearish cross now from the short moving averages. Pair is above both moving averages now.
Indicators watch: Indicators watch-level 1 (signal generator) : GBP Neutral – no signal (flat). Indicators watch-level 2: GBP Neutral-Negative.
Usd/Chf: At the time of this writing, the pair is trading around the 1.1835 level. Unfortunately, pair did broke the 50-day moving average to the downside on a closing basis and it is fighting hard to re-gain it. Only a move back above 1.20 will enlighten the way. While holding above 1.1820-1.18 it may attract new buyers to further support. Biggest support around 1.16 for now.
Moving averages overview: USD has its 200-day moving average today at 1.2046. Pair has confirmed a bullish moving averages cross, but is below them both now.
Indicators watch: Indicators watch-level 1 (signal generator): USD Neutral - no signal – (flat). Indicators watch-level 2: USD Neutral.
Eur/Gbp: At the time of this writing, the pair is trading around the 0.6805 level. Pair did break the 0.68 level and made a new low, but quickly moved back up and currently is trading above that level. Though testing the 0.6775 level can’t be ruled out, pair could move up from here, though it has to face too many resistances on the way before giving clear bullish indications.
Moving averages overview: Pair has its 200-day moving average today at 0.6878. Pair has a bearish cross now from the short moving averages confirmed today.
Indicators watch: Indicators watch-level 1 (signal generator): EUR Neutral-Positive (no signal). 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.
Markets Snapshot
Good morning everyone from FXstreet.com. The Crude is near $54 again, after holding the $50 psychological level. In the US stock markets, the Dow Jones Industrial Average closed around 10.125, a bit of relief after previous losses.
Forex Technicals at a glance
Euro/Usd: At the time of this writing, the pair is trading around the 1.3045 level. Not much to be added to yesterday’s report. Price made another mini-rally and tried to reach the 1.31 level, but failed by some distance, capped by the 50-day resistance, situated around 1.3080. As pair moves up, we can clearly see the difficulties the EUR is finding in gaining real strength against the dollar. Taking into account the current geopolitical tensions between China-Japan, that if anything they should be dollar negative, the single currency is only gaining in marginal percentages. It remains weak while below 1.3150, therefore previous view still valid. Indicators are still mildly-positive for the pair.
Moving averages overview: EUR has its 200-day moving average today at 1.2808. Pair has a bearish cross by the shorter moving averages. Pair is above 20-day moving average now.
Indicators watch: Indicators watch-level 1 (signal generator): EUR Positive – no signal (flat). Indicators watch-level 2: EUR Neutral.
Gbp/Usd: At the time of this writing, the pair is trading around the 1.9170 level. Pair kept on gaining momentum and it is now seriously testing the downtrend line from december, 2004. Should it be broken on a closing basis, we could be talking of the start of a real bullish momentum for the british currency. We will see. Today, 8:30am GMT, we have the release of the Bank of England Minutes and I think that will drive the market either way. Though bearish view is preferred since we have a bearish trendline working, pair would need to go back below 1.89 to confirm this view by offering good risk/reward selling opportunities.
Moving averages overview: GBP has its 200-day moving average today at 1.8613. Pair has a bearish cross now from the short moving averages. Pair is above both moving averages now.
Indicators watch: Indicators watch-level 1 (signal generator) : GBP Neutral – no signal (flat). Indicators watch-level 2: GBP Neutral-Negative.
Usd/Chf: At the time of this writing, the pair is trading around the 1.1835 level. Unfortunately, pair did broke the 50-day moving average to the downside on a closing basis and it is fighting hard to re-gain it. Only a move back above 1.20 will enlighten the way. While holding above 1.1820-1.18 it may attract new buyers to further support. Biggest support around 1.16 for now.
Moving averages overview: USD has its 200-day moving average today at 1.2046. Pair has confirmed a bullish moving averages cross, but is below them both now.
Indicators watch: Indicators watch-level 1 (signal generator): USD Neutral - no signal – (flat). Indicators watch-level 2: USD Neutral.
Eur/Gbp: At the time of this writing, the pair is trading around the 0.6805 level. Pair did break the 0.68 level and made a new low, but quickly moved back up and currently is trading above that level. Though testing the 0.6775 level can’t be ruled out, pair could move up from here, though it has to face too many resistances on the way before giving clear bullish indications.
Moving averages overview: Pair has its 200-day moving average today at 0.6878. Pair has a bearish cross now from the short moving averages confirmed today.
Indicators watch: Indicators watch-level 1 (signal generator): EUR Neutral-Positive (no signal). 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.
European Session, 21/4/2005
Markets Snapshot
Good morning everyone from FXstreet.com. The Crude is holding above $53 for now. In the US stock markets, the Dow Jones Industrial Average closed around 10.000, a pshychological level that is tested once again.
Forex Technicals at a glance
Euro/Usd: At the time of this writing, the pair is trading around the 1.3075 level. We are in a very important trading moment. The long uptrend line that we can draw from 2002 lays today around current levels, plus having the 50-day simple moving average only slightly above it, around 1.3085. The moving average has been tested, but pair lacks enough momentum to break it for now. As stated in previous reports, while EUR holds below 1.3150, the bullish momentum won’t be significant. If we break above that level, we may test the downtrend line from alte december, 2004, which is situated today around 1.3350. The 20-day moving average is turning north and dollar bulls wouldn’t like an eventual cross to the upside.
Moving averages overview: EUR has its 200-day moving average today at 1.2812. Pair has a bearish cross by the shorter moving averages. Pair is above 20-day moving average now.
Indicators watch: Indicators watch-level 1 (signal generator): EUR Positive – no signal (flat). Indicators watch-level 2: EUR Neutral.
Gbp/Usd: At the time of this writing, the pair is trading around the 1.9155 level. Pair tested the trendline from december 2004, and failed to close above it. While it is capped by that trendline and despite being above both moving averages, it looks poised to further weakness. Ideally, dollar bulls would like the pair to be below 1.90 again, far from it at the moment.
Moving averages overview: GBP has its 200-day moving average today at 1.8616. Pair has a bearish cross now from the short moving averages. Pair is above both moving averages now.
Indicators watch: Indicators watch-level 1 (signal generator) : GBP Neutral – no signal (flat). Indicators watch-level 2: GBP Neutral-Negative.
Usd/Chf: At the time of this writing, the pair is trading around the 1.1790 level. Pair has broken the 50-day moving average on the downside, and it is in no man’s land at this moment, only a break above 1.20 or below 1.16 will clearify the view. Disappointing price action when it looked to be a reversal in place by the dollar bulls several sessions ago.
Moving averages overview: USD has its 200-day moving average today at 1.2042. Pair has confirmed a bullish moving averages cross, but is below them both now.
Indicators watch: Indicators watch-level 1 (signal generator): USD Neutral - no signal – (flat). Indicators watch-level 2: USD Neutral.
Eur/Gbp: At the time of this writing, the pair is trading around the 0.6840 level. Pair has found a very strong base around the 0.68 level and looks good to test the 20-day moving average. However, important to note that the 20-day moving average has crossed the 200-day on the downside, which is a clear bearish signal. The 50-day also looks to cross the 200-day soon.
Moving averages overview: Pair has its 200-day moving average today at 0.6878. Pair has a bearish cross now by the 20-day moving average to the 200-day one.
Indicators watch: Indicators watch-level 1 (signal generator): EUR Neutral-Positive (no signal). 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.
Markets Snapshot
Good morning everyone from FXstreet.com. The Crude is holding above $53 for now. In the US stock markets, the Dow Jones Industrial Average closed around 10.000, a pshychological level that is tested once again.
Forex Technicals at a glance
Euro/Usd: At the time of this writing, the pair is trading around the 1.3075 level. We are in a very important trading moment. The long uptrend line that we can draw from 2002 lays today around current levels, plus having the 50-day simple moving average only slightly above it, around 1.3085. The moving average has been tested, but pair lacks enough momentum to break it for now. As stated in previous reports, while EUR holds below 1.3150, the bullish momentum won’t be significant. If we break above that level, we may test the downtrend line from alte december, 2004, which is situated today around 1.3350. The 20-day moving average is turning north and dollar bulls wouldn’t like an eventual cross to the upside.
Moving averages overview: EUR has its 200-day moving average today at 1.2812. Pair has a bearish cross by the shorter moving averages. Pair is above 20-day moving average now.
Indicators watch: Indicators watch-level 1 (signal generator): EUR Positive – no signal (flat). Indicators watch-level 2: EUR Neutral.
Gbp/Usd: At the time of this writing, the pair is trading around the 1.9155 level. Pair tested the trendline from december 2004, and failed to close above it. While it is capped by that trendline and despite being above both moving averages, it looks poised to further weakness. Ideally, dollar bulls would like the pair to be below 1.90 again, far from it at the moment.
Moving averages overview: GBP has its 200-day moving average today at 1.8616. Pair has a bearish cross now from the short moving averages. Pair is above both moving averages now.
Indicators watch: Indicators watch-level 1 (signal generator) : GBP Neutral – no signal (flat). Indicators watch-level 2: GBP Neutral-Negative.
Usd/Chf: At the time of this writing, the pair is trading around the 1.1790 level. Pair has broken the 50-day moving average on the downside, and it is in no man’s land at this moment, only a break above 1.20 or below 1.16 will clearify the view. Disappointing price action when it looked to be a reversal in place by the dollar bulls several sessions ago.
Moving averages overview: USD has its 200-day moving average today at 1.2042. Pair has confirmed a bullish moving averages cross, but is below them both now.
Indicators watch: Indicators watch-level 1 (signal generator): USD Neutral - no signal – (flat). Indicators watch-level 2: USD Neutral.
Eur/Gbp: At the time of this writing, the pair is trading around the 0.6840 level. Pair has found a very strong base around the 0.68 level and looks good to test the 20-day moving average. However, important to note that the 20-day moving average has crossed the 200-day on the downside, which is a clear bearish signal. The 50-day also looks to cross the 200-day soon.
Moving averages overview: Pair has its 200-day moving average today at 0.6878. Pair has a bearish cross now by the 20-day moving average to the 200-day one.
Indicators watch: Indicators watch-level 1 (signal generator): EUR Neutral-Positive (no signal). 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.
European Session, 22/4/2005
Markets Snapshot
Good morning everyone from FXstreet.com. The Crude is trading around $54.35 now, edging a bit higher in the current geopolitical environment. In the US stock markets, the Dow Jones Industrial Average closed around 10.220, with a very strong rebound from the 10k level.
Forex Technicals at a glance
Euro/Usd: At the time of this writing, the pair is trading around the 1.3055 level. The single currency tried yesterday to break the 50-day moving average and to enter into the preevious long-term uptrend line, but clearly failed to do so, provinding that the current upleg is more a USD mild-bears play rather than truly a EUR-bullish players’ game. While the pair trades below 1.3150 it remains vulnerable and lacking enough momentum to really push further up. Today’s trading day can set the definition of this current uncertainty and provide clear signals for the near future.
Moving averages overview: EUR has its 200-day moving average today at 1.2816. Pair has a bearish cross by the shorter moving averages. Pair is above 20-day moving average now.
Indicators watch: Indicators watch-level 1 (signal generator): EUR Positive – no signal (flat). Indicators watch-level 2: EUR Neutral.
Gbp/Usd: At the time of this writing, the pair is trading around the 1.9125 level. Pair tested the downtrend line around 1.92 and clearly failed to clear it out. Therefore, unless the price action drivest he pair above 1.9250, we may be seeing some weakness in the pair.
Moving averages overview: GBP has its 200-day moving average today at 1.8620. Pair has a bearish cross now from the short moving averages. Pair is above both moving averages now.
Indicators watch: Indicators watch-level 1 (signal generator) : GBP Neutral – no signal (flat). Indicators watch-level 2: GBP Neutral-Negative.
Usd/Chf: At the time of this writing, the pair is trading around the 1.1810 level. Pair is still trading below the 50-day simple moving average, therefore the disappointment that may come from the price action in this pair may refrain new USD longs to join the boat. However, with yesterday’s bullish move (some kind of a reversal candle formed), we can draw a trendline with mid-march lows. Still yet to see it that trendline will hold, but it has its dynamic support around 1.1750 today. If broken, big support comes around 1.16. Looking for bulls entry levels, they come around 1.1980/1.20.
Moving averages overview: USD has its 200-day moving average today at 1.2039. Pair has a bullish moving averages cross, but is below them both now.
Indicators watch: Indicators watch-level 1 (signal generator): USD Neutral - no signal – (flat). Indicators watch-level 2: USD Neutral.
Eur/Gbp: At the time of this writing, the pair is trading around the 0.6830 level. Good upmove yesterday. The 0.68 support looks a strong one now. However, price action was unable to break the 20-day simple moving average, therefore we can’t rule out further weaknes for the pair. 50-day moving average is getting closer to the 200-day, and if there finally confirm the bearish cross, that will certainly be negative for the pair.
Moving averages overview: Pair has its 200-day moving average today at 0.6880. Pair has a bearish cross now by the 20-day moving average to the 200-day one.
Indicators watch: Indicators watch-level 1 (signal generator): EUR Neutral-Positive (no signal). 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.
Markets Snapshot
Good morning everyone from FXstreet.com. The Crude is trading around $54.35 now, edging a bit higher in the current geopolitical environment. In the US stock markets, the Dow Jones Industrial Average closed around 10.220, with a very strong rebound from the 10k level.
Forex Technicals at a glance
Euro/Usd: At the time of this writing, the pair is trading around the 1.3055 level. The single currency tried yesterday to break the 50-day moving average and to enter into the preevious long-term uptrend line, but clearly failed to do so, provinding that the current upleg is more a USD mild-bears play rather than truly a EUR-bullish players’ game. While the pair trades below 1.3150 it remains vulnerable and lacking enough momentum to really push further up. Today’s trading day can set the definition of this current uncertainty and provide clear signals for the near future.
Moving averages overview: EUR has its 200-day moving average today at 1.2816. Pair has a bearish cross by the shorter moving averages. Pair is above 20-day moving average now.
Indicators watch: Indicators watch-level 1 (signal generator): EUR Positive – no signal (flat). Indicators watch-level 2: EUR Neutral.
Gbp/Usd: At the time of this writing, the pair is trading around the 1.9125 level. Pair tested the downtrend line around 1.92 and clearly failed to clear it out. Therefore, unless the price action drivest he pair above 1.9250, we may be seeing some weakness in the pair.
Moving averages overview: GBP has its 200-day moving average today at 1.8620. Pair has a bearish cross now from the short moving averages. Pair is above both moving averages now.
Indicators watch: Indicators watch-level 1 (signal generator) : GBP Neutral – no signal (flat). Indicators watch-level 2: GBP Neutral-Negative.
Usd/Chf: At the time of this writing, the pair is trading around the 1.1810 level. Pair is still trading below the 50-day simple moving average, therefore the disappointment that may come from the price action in this pair may refrain new USD longs to join the boat. However, with yesterday’s bullish move (some kind of a reversal candle formed), we can draw a trendline with mid-march lows. Still yet to see it that trendline will hold, but it has its dynamic support around 1.1750 today. If broken, big support comes around 1.16. Looking for bulls entry levels, they come around 1.1980/1.20.
Moving averages overview: USD has its 200-day moving average today at 1.2039. Pair has a bullish moving averages cross, but is below them both now.
Indicators watch: Indicators watch-level 1 (signal generator): USD Neutral - no signal – (flat). Indicators watch-level 2: USD Neutral.
Eur/Gbp: At the time of this writing, the pair is trading around the 0.6830 level. Good upmove yesterday. The 0.68 support looks a strong one now. However, price action was unable to break the 20-day simple moving average, therefore we can’t rule out further weaknes for the pair. 50-day moving average is getting closer to the 200-day, and if there finally confirm the bearish cross, that will certainly be negative for the pair.
Moving averages overview: Pair has its 200-day moving average today at 0.6880. Pair has a bearish cross now by the 20-day moving average to the 200-day one.
Indicators watch: Indicators watch-level 1 (signal generator): EUR Neutral-Positive (no signal). 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.
European Session, 25/4/2005
Markets Snapshot
Good morning everyone from FXstreet.com. The Crude is trading around $55.75 now, strengthening further as the geopolitical concerns grow. In the US stock markets, the Dow Jones Industrial Average closed around 10.150, after a bit of profit-taking.
Forex Technicals at a glance
Euro/Usd: At the time of this writing, the pair is trading around the 1.2980 level. The single currency is weakening as I write thsi report. More than anticipated in previous reports, the unsuccessful attempt to regain the long-term trend (breaking and staying above 1.3150), has led the pair to dip towards the 1.2950 support area yet once again. This time, the level will be supported by the 20-day moving average, but presumably it won’t hold much longer. The 200-day moving average looks to be the real test of the current move.
Moving averages overview: EUR has its 200-day moving average today at 1.2825. Pair has a bearish cross by the shorter moving averages. Pair is above 20-day moving average now.
Indicators watch: Indicators watch-level 1 (signal generator): EUR Positive – no signal (flat). Indicators watch-level 2: EUR Neutral-Negative.
Gbp/Usd: At the time of this writing, the pair is trading around the 1.9090 level. Clear disappointment among the pound bulls, after the unsuccessful attempt to break the current downtrend line. Further weakness can’t be ruled out in the pair, due to the good risk/reard ratio that the bearish positions may incur in at this point. Below 1.89 pair is definitely very bearish.
Moving averages overview: GBP has its 200-day moving average today at 1.8627. Pair has a bearish cross now from the short moving averages. Pair is above both moving averages now.
Indicators watch: Indicators watch-level 1 (signal generator) : GBP Neutral – no signal (flat). Indicators watch-level 2: GBP Negative.
Usd/Chf: At the time of this writing, the pair is trading around the 1.1895 level. Pair is breaking back up the 50-day moving average, with the 20-day in sight. What this upmove proves is that from mid March we can draw a second uptrend line in the pair, providing some extra support to USD bulls, who are definitely ruling the market at the moment. Further gains to the 200-day simple moving average can’t be ruled out.
Moving averages overview: USD has its 200-day moving average today at 1.2032. Pair has a bullish moving averages cross and now it is only below the 20-day moving average.
Indicators watch: Indicators watch-level 1 (signal generator): USD Neutral - no signal – (flat). Indicators watch-level 2: USD Neutral.
Eur/Gbp: At the time of this writing, the pair is trading around the 0.6790 level. The bearish tone given by the negative crosses on the moving averages are definitely driving the pair to lower levels at this stage. The 50-day moving average is just about to cross the 200-day on the downside, and that will be very bearish for the pair.
Moving averages overview: Pair has its 200-day moving average today at 0.6881. Pair has a bearish cross now by the 20-day moving average to the 200-day one and almost a negative cross by the 50-day to the 200-day.
Indicators watch: Indicators watch-level 1 (signal generator): EUR Neutral (no signal). 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.
Markets Snapshot
Good morning everyone from FXstreet.com. The Crude is trading around $55.75 now, strengthening further as the geopolitical concerns grow. In the US stock markets, the Dow Jones Industrial Average closed around 10.150, after a bit of profit-taking.
Forex Technicals at a glance
Euro/Usd: At the time of this writing, the pair is trading around the 1.2980 level. The single currency is weakening as I write thsi report. More than anticipated in previous reports, the unsuccessful attempt to regain the long-term trend (breaking and staying above 1.3150), has led the pair to dip towards the 1.2950 support area yet once again. This time, the level will be supported by the 20-day moving average, but presumably it won’t hold much longer. The 200-day moving average looks to be the real test of the current move.
Moving averages overview: EUR has its 200-day moving average today at 1.2825. Pair has a bearish cross by the shorter moving averages. Pair is above 20-day moving average now.
Indicators watch: Indicators watch-level 1 (signal generator): EUR Positive – no signal (flat). Indicators watch-level 2: EUR Neutral-Negative.
Gbp/Usd: At the time of this writing, the pair is trading around the 1.9090 level. Clear disappointment among the pound bulls, after the unsuccessful attempt to break the current downtrend line. Further weakness can’t be ruled out in the pair, due to the good risk/reard ratio that the bearish positions may incur in at this point. Below 1.89 pair is definitely very bearish.
Moving averages overview: GBP has its 200-day moving average today at 1.8627. Pair has a bearish cross now from the short moving averages. Pair is above both moving averages now.
Indicators watch: Indicators watch-level 1 (signal generator) : GBP Neutral – no signal (flat). Indicators watch-level 2: GBP Negative.
Usd/Chf: At the time of this writing, the pair is trading around the 1.1895 level. Pair is breaking back up the 50-day moving average, with the 20-day in sight. What this upmove proves is that from mid March we can draw a second uptrend line in the pair, providing some extra support to USD bulls, who are definitely ruling the market at the moment. Further gains to the 200-day simple moving average can’t be ruled out.
Moving averages overview: USD has its 200-day moving average today at 1.2032. Pair has a bullish moving averages cross and now it is only below the 20-day moving average.
Indicators watch: Indicators watch-level 1 (signal generator): USD Neutral - no signal – (flat). Indicators watch-level 2: USD Neutral.
Eur/Gbp: At the time of this writing, the pair is trading around the 0.6790 level. The bearish tone given by the negative crosses on the moving averages are definitely driving the pair to lower levels at this stage. The 50-day moving average is just about to cross the 200-day on the downside, and that will be very bearish for the pair.
Moving averages overview: Pair has its 200-day moving average today at 0.6881. Pair has a bearish cross now by the 20-day moving average to the 200-day one and almost a negative cross by the 50-day to the 200-day.
Indicators watch: Indicators watch-level 1 (signal generator): EUR Neutral (no signal). 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.
European Session, 27/4/2005
Markets Snapshot
Good morning everyone from FXstreet.com. The Crude is trading around $54 now, easing the uptrend a bit after the news that Saudi Arabia is likely to increase production. In the US stock markets, the Dow Jones Industrial Average closed around 10.150, in a sideways price action for the moment.
Forex Technicals at a glance
Euro/Usd: At the time of this writing, the pair is trading around the 1.2915 level. More weakness coming in for the single currency. It really looks that weakness may be here to stay in the pair unless 1.3150 is regained, which looks quite improbable at the moment. Pair is only 100 pips above the big magnet (200-day simple moving average), and it really looks like it will eventually attract price action to it. A new fresh attempt to the level will be a very important signal for the coming weeks’ price action. Interesting to note that today’s price action has broken back down the 20-day moving average, and they are turning south clearly again today.
Moving averages overview: EUR has its 200-day moving average today at 1.2828.
Indicators watch: Indicators watch-level 1 (signal generator): EUR Positive – no signal (flat). Indicators watch-level 2: EUR Neutral-Negative.
Gbp/Usd: At the time of this writing, the pair is trading around the 1.9010 level. Pair is barely holding the 50-day moving average and has followed quite decently the bearish indications from indicators watch level-2. A break of the 50-day moving average opens the door for much further weakness, which will be confirmed by the break of the 20-day moving average. Bearish moves are preferred unless 1.92 is regained.
Moving averages overview: GBP has its 200-day moving average today at 1.8630. Pair has a bearish cross now from the short moving averages. Pair is above both moving averages now.
Indicators watch: Indicators watch-level 1 (signal generator) : GBP Neutral – no signal (flat). Indicators watch-level 2: GBP Negative.
Usd/Chf: At the time of this writing, the pair is trading around the 1.195 level. Indecisiveness has been ruling the pair these days and certainly pair in some way disappointed with its price action. However, today’s upmove and current test of the 20-day moving average proves once again that USD supporters are on the winning side at the moment. Confirmation of this presumption will come with a clear break of the 20-day moving average, which will precede another attempt to break the 200-day moving average, a definite bullish signal that has not happened so far. Indicators watch level -2 turns to positive mode today.
Moving averages overview: USD has its 200-day moving average today at 1.2028. Pair has a bullish moving averages cross and now it is only below the 20-day moving average.
Indicators watch: Indicators watch-level 1 (signal generator): USD Neutral - no signal – (flat). Indicators watch-level 2: USD Positive.
Eur/Gbp: At the time of this writing, the pair is trading around the 0.6795 level. The bearish cross of the 50 and 200 moving average is about to happen. Pair is very weak at the moment and only above 0.6850 will change the view.
Moving averages overview: Pair has its 200-day moving average today at 0.6882. Pair has a bearish cross now by the 20-day moving average to the 200-day one and almost a negative cross by the 50-day to the 200-day.
Indicators watch: Indicators watch-level 1 (signal generator): EUR Neutral (no signal). 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.
Markets Snapshot
Good morning everyone from FXstreet.com. The Crude is trading around $54 now, easing the uptrend a bit after the news that Saudi Arabia is likely to increase production. In the US stock markets, the Dow Jones Industrial Average closed around 10.150, in a sideways price action for the moment.
Forex Technicals at a glance
Euro/Usd: At the time of this writing, the pair is trading around the 1.2915 level. More weakness coming in for the single currency. It really looks that weakness may be here to stay in the pair unless 1.3150 is regained, which looks quite improbable at the moment. Pair is only 100 pips above the big magnet (200-day simple moving average), and it really looks like it will eventually attract price action to it. A new fresh attempt to the level will be a very important signal for the coming weeks’ price action. Interesting to note that today’s price action has broken back down the 20-day moving average, and they are turning south clearly again today.
Moving averages overview: EUR has its 200-day moving average today at 1.2828.
Indicators watch: Indicators watch-level 1 (signal generator): EUR Positive – no signal (flat). Indicators watch-level 2: EUR Neutral-Negative.
Gbp/Usd: At the time of this writing, the pair is trading around the 1.9010 level. Pair is barely holding the 50-day moving average and has followed quite decently the bearish indications from indicators watch level-2. A break of the 50-day moving average opens the door for much further weakness, which will be confirmed by the break of the 20-day moving average. Bearish moves are preferred unless 1.92 is regained.
Moving averages overview: GBP has its 200-day moving average today at 1.8630. Pair has a bearish cross now from the short moving averages. Pair is above both moving averages now.
Indicators watch: Indicators watch-level 1 (signal generator) : GBP Neutral – no signal (flat). Indicators watch-level 2: GBP Negative.
Usd/Chf: At the time of this writing, the pair is trading around the 1.195 level. Indecisiveness has been ruling the pair these days and certainly pair in some way disappointed with its price action. However, today’s upmove and current test of the 20-day moving average proves once again that USD supporters are on the winning side at the moment. Confirmation of this presumption will come with a clear break of the 20-day moving average, which will precede another attempt to break the 200-day moving average, a definite bullish signal that has not happened so far. Indicators watch level -2 turns to positive mode today.
Moving averages overview: USD has its 200-day moving average today at 1.2028. Pair has a bullish moving averages cross and now it is only below the 20-day moving average.
Indicators watch: Indicators watch-level 1 (signal generator): USD Neutral - no signal – (flat). Indicators watch-level 2: USD Positive.
Eur/Gbp: At the time of this writing, the pair is trading around the 0.6795 level. The bearish cross of the 50 and 200 moving average is about to happen. Pair is very weak at the moment and only above 0.6850 will change the view.
Moving averages overview: Pair has its 200-day moving average today at 0.6882. Pair has a bearish cross now by the 20-day moving average to the 200-day one and almost a negative cross by the 50-day to the 200-day.
Indicators watch: Indicators watch-level 1 (signal generator): EUR Neutral (no signal). 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.
Last edited by a moderator:
Dollar surges as economic data confirms bullish view
Markets Snapshot
Good morning everyone from FXstreet.com. Most bourses around the globe are making new highs along the way now that the crude oil has given them a relief. This seems to be the name of the game for now: oil rising, bourses waiting .. oil declining, bourses making new highs. Check out Latest Forex News section to review overnight economic stories.
Forex Technicals at a glance
The clearing of the 1.20 level confirmed the dollar bullish momentum after FED rate move and the previous weeks’ gains. That the dollar had started a big rebound wasn’t out of question on february, according to technical indicators. The question was: when? Successive FED moves have helped the technical indications to work in full force, causing a major trend reversal 2-3 months ago, when we saw the eur/usd breaking below the 1.2770 level on a daily closing basis. That was the definite signal for dollar bulls to run bearish stops away and start the trend reversal. There were many skepticists who did not believe in what charts were telling, mainly because those trend reversal signals had appeared twice before with no effect. But the third time was the real one. And the trend reversal is a real fact. I guess we won’t hear that “buy euro, it is cheap” expression for some time. Pound has crashed more than any other continental major against the dollar, weak economic data was the catalysator for the 700+ pip downmove in just 3 sessions. Dollar is even gaining ground against commodity currencies, like the canadian dollar. Volatility is extraordianry these days, signaling the move is almost over and we more than likely will see a consolidation market in the coming weeks.
Point of View: Current interest rate policies are causing a shift on currency preferences. The euro has been the desired currency by “the big money” for almost 3 years, where it hasn’t stopped climbing. The almost-null economic policy in the eurozone has caused some big players to shift their attention back to the almighty dollar, realizing that the authorities in the US are far more competitive and worth the risk of holding that currency than the europen one. When “the big money” comes into play, trends are set. Now the trend is set.
Trading Tips:After clearing the 1.2000 level on the downside against the dollar, the euro is a weak currency. I expect it to fall a bit more than current levels with respect to the british pound, with levels around 0.6750-25 as objectives.
Markets Snapshot
Good morning everyone from FXstreet.com. Most bourses around the globe are making new highs along the way now that the crude oil has given them a relief. This seems to be the name of the game for now: oil rising, bourses waiting .. oil declining, bourses making new highs. Check out Latest Forex News section to review overnight economic stories.
Forex Technicals at a glance
The clearing of the 1.20 level confirmed the dollar bullish momentum after FED rate move and the previous weeks’ gains. That the dollar had started a big rebound wasn’t out of question on february, according to technical indicators. The question was: when? Successive FED moves have helped the technical indications to work in full force, causing a major trend reversal 2-3 months ago, when we saw the eur/usd breaking below the 1.2770 level on a daily closing basis. That was the definite signal for dollar bulls to run bearish stops away and start the trend reversal. There were many skepticists who did not believe in what charts were telling, mainly because those trend reversal signals had appeared twice before with no effect. But the third time was the real one. And the trend reversal is a real fact. I guess we won’t hear that “buy euro, it is cheap” expression for some time. Pound has crashed more than any other continental major against the dollar, weak economic data was the catalysator for the 700+ pip downmove in just 3 sessions. Dollar is even gaining ground against commodity currencies, like the canadian dollar. Volatility is extraordianry these days, signaling the move is almost over and we more than likely will see a consolidation market in the coming weeks.
Point of View: Current interest rate policies are causing a shift on currency preferences. The euro has been the desired currency by “the big money” for almost 3 years, where it hasn’t stopped climbing. The almost-null economic policy in the eurozone has caused some big players to shift their attention back to the almighty dollar, realizing that the authorities in the US are far more competitive and worth the risk of holding that currency than the europen one. When “the big money” comes into play, trends are set. Now the trend is set.
Trading Tips:After clearing the 1.2000 level on the downside against the dollar, the euro is a weak currency. I expect it to fall a bit more than current levels with respect to the british pound, with levels around 0.6750-25 as objectives.
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