Asian markets, mostly down following Wall Street, Euro and Pound, lower

Wed, Sep 2 2009, 06:04 GMT

FXstreet.com (Barcelona) - Asian stock markets are going through losses on Wednesday following a negative session in Wall Street, while Chinese stocks rose. Euro and Pound are trading at week lows after Tuesday's declines.

Japanese Nikkei Index declined 2.8%, with South Korean Kospi Index 0.7% lower. Australia's S&P Index declined 2.0% and Hong Kong's Hang Seng Index dropped 1.8%. Chinese Shangai Composite Index rose 0.5%.

Banks, commodity producers and exporters have been the biggest losers in a session dominated by risk aversion, on the back of considerable declines on U.S. markets, with investors concerned about further turmoil in the banking sector, as well as in the industrial sector and in global economy.

Euro and Pound retreat to week lows

EUR/USD took a big dip on Tuesday's U.S. session, from 1.4379 high during European trading time, the Euro plunged all the way to 1.4177 on U.S. session, to consolidate during Asian trade in a range from 1.4200 to 1.4227.

GBP/USD rallied on Tuesday's Asian session to a week high at 1.4375 to drop afterwards to 1.6115 low, which so far has hold Pound's decline, and the pair attempted to appreciate reaching levels around 1.6175 ahead of the European session opening.

USD/JPY rose on Tuesday's U.S. session to 93.45, to drop later to intra-week low area at 92.50. During Asian session, the pair has launched a shy recovery attempt, reaching levels around 92.90 at the time of writing.

• EUR/USD
• GBP/USD

EUR/USD (Sep 02 at 07:33 GMT)

1.4219/23 (0.00%)

H 1.4247 L 1.4187

S3	S2	S1	R1	R2	R3
1.4134	1.4169	1.4205	1.4225	1.4261	1.4296

[?]Trend Index	[?]OB/OS Index
Neutral	Neutral
Data updated on Sep 02 at 07:30 (15-minute timeframe)

[ View EUR/USD technical studies ]

EUR/USD: Euro consolidating above 1.4200

Wed, Sep 2 2009, 06:20 GMT

FXstreet.com (Barcelona) - The Euro took a big dip on Tuesday's U.S. session, from 1.4379 high during European trading time, plunging all the way down to 1.4177 on U.S. session, to consolidate during Asian trade in a range from 1.4200 to 1.4227.

Initial resistance level lies at 1.4225 Asian session high, and, in case of further appreciation, next resistances could come at 1.4255 (Aug 31 low) and 1.4280/85 congestion area. On the downside, initial support lies at 1.4190 intra-day low, and below there 1.4175 (Sept 1 low) and 1.4155 (Aug 18 high).

EUR/GBP rose on Tuesday's European session to 0.8835 high to decline during following sessions, reaching levels around 0.8785 at the time of writing. On a wider perspective, the pair continues consolidating in a range from 0.8770 from 0.8840 after its rally from 0.8520 low on August 17. Support levels lie at 0.8770 and 0.8710. On the upside, resistance levels are 0.8840 and 0.8860.

• EUR/USD
• EUR/GBP

EUR/USD (Sep 02 at 07:33 GMT)

1.4219/23 (0.00%)

H 1.4247 L 1.4187

S3	S2	S1	R1	R2	R3
1.4134	1.4169	1.4205	1.4225	1.4261	1.4296

[?]Trend Index	[?]OB/OS Index
Neutral	Neutral
Data updated on Sep 02 at 07:30 (15-minute timeframe)

[ View EUR/USD technical studies ]

GBP/USD: Pound approaching 1.6200 after bouncing at 1.6115

FXstreet.com (Barcelona) - The Sterling rallied on Tuesday's Asian session to a week high at 1.4375 to drop afterwards to 1.6115 low, which so far has hold Pound's decline, and the pair is trying ti get back to higher levels ahead of European session opening, reaching, so far 1.6190.

On the upside, the Pound could find resistance at 1.6185 (Aug 31 low), and above here, 1.6225 and 1.6280. On the downside, initial support lies at 1.6150, and below here, 1.6115 and 1.6035 (jul 14 low).

GBP/JPY reached 152.80 high on Tuesday after bouncing at 150.00, although the pair dropped later to hit a fresh two-week low at 149.15 during early Asian session, to bounce back returning above 150.00 at the time of writing. Support levels are 149.10 and 148.00. On the upside, resistance levels lie at 150.26 and 150.60.

On a wider perspective, the Pound remains trading under a downward trending line after having peaked at 163.10, 2009 high on early August.

• GBP/USD

GBP/USD (Sep 02 at 07:31 GMT)

1.6138/41 (-0.07%)

H 1.6192 L 1.6112

S3	S2	S1	R1	R2	R3
1.6034	1.6074	1.6115	1.6164	1.6205	1.6245

[?]Trend Index	[?]OB/OS Index
Neutral	Neutral
Data updated on Sep 02 at 07:20 (15-minute timeframe)

[ View GBP/USD technical studies ]

USD/JPY: Dollar testing levels above 93.00

FXstreeet.com (Barcelona) - The Dollar declined from Tuesday's high at 93.45 during early U.S. session to intra-week low at 92.50 during Asian session, and the pairs gathering strength moments ahead of the European opening to test levels above 93.00 Asian session high.

The Dollar moves at the moment at levels between 92.95/93.00, where the 20 and 50 hour SMA lie, and above here, te pair could find resistance at 9.40 /45 (Sept 1 high) and 93.70/85. On the downside, support levels are 92.50/55 intra-week low, and below here, 92.35 and 92.00.

EUR/JPY rose on Tuesday from 132.15 to reach intra-week high at 134.14 on early European session and drop afterwards to hit a fresh 6-week low at 131.45. During Asian session, the Euro has picked up, reaching levels above 132.00 to test 132.00 at the time of writing. Resistance levels are 132.90/95 and 134.15. On the downside, support levels are 131.45 and 130.85.

• EUR/JPY
• USD/JPY

EUR/JPY (Sep 02 at 07:29 GMT)

132.10/13 (-0.02%)

H 132.51 L 131.42

S3	S2	S1	R1	R2	R3
131.23	131.56	131.89	132.31	132.64	132.97

[?]Trend Index	[?]OB/OS Index
Slightly Bullish	Neutral
Data updated on Sep 02 at 07:20 (15-minute timeframe)

Forex: EUR/USD: Euro bounces at 1.4255 and returns to 1.4285

Mon, Aug 31 2009, 07:51 GMT
http://www.fxstreet.com

FXstreet.com (Barcelona) - The Euro has strengthened right after the European session opening and, after bouncing at 1.4255 low, the pair has returned to test previous session low at 1.4285.

In case of breaking above here, next resistance level for the Euro could be 1.4315 Asian session high, and above here, 1.4350 and 1.4390 (Aug 28 high). On the downside, support levels are 1.4250/55 (Session low), and in case of further decline, 1.4220 (Aug 27 low) and 1.4205 (Aug 26 low).

On a weekly perspective, the ecPulse.com analysis team foresees a downward correction, needed to gather momentum to assault 1.4420 resistance. "The pair is in need to decline to gather bullish momentum which is supported by the stochastic indicator. The decline we expect is nothing more than a correction to gather enough momentum before rebounding to the upside in an attempt to breach 1.4420 and maintain trading above it. Trading above 1.4035 will keep the trend to the upside yet a breach of this level may alter the short term trend."

• EUR/USD

EUR/USD (Aug 31 at 08:55 GMT)

1.4291/97 (-0.10%)

H 1.4317 L 1.4252

S3	S2	S1	R1	R2	R3
1.4211	1.4246	1.4282	1.4308	1.4344	1.4380

[?]Trend Index	[?]OB/OS Index
Strongly Bullish	Neutral
Data updated on Aug 31 at 08:50 (15-minute timeframe)

[ View EUR/USD technical studies ]

Forex: GBP/USD: Pound testing levels below 1.6200

Mon, Aug 31 2009, 08:06 GMT
http://www.fxstreet.com

FXstreet.com (Barcelona) - The Sterling has weakened further on Asian session, and decline from 1.6385 high on Friday has extended to 1.6185 low ahead of the European session opening, although the par has ret6urned to levels right above 1.6200 afterwards.

According to Liviu Flesar, technical analyst at InnerFX the Pound is on trerenewes bearish pressure, although 1.6100 level should hold declines: "The resistance region started around 1.6385 has provided a stable turning point on last intra-day rally and downside is under renewed pressure today (...) Intra-day price action points towards the downside at the time of writing this article. Extended losses may reach 1.6100-1.6150 later today but 1.6100 will probably limit the downside."

Support levels at the moment, lie at 1.6150 (Aug 26 and 27 low) and below here, 1.6120 and 1.6030 (Jul 13 low). On the upside, in case of recovery above 1.6225, next resistance levels could be 1.6270 (Aug 17 high), 1.4300 (session high) and 1.4380 (Aug 28 high).

• GBP/USD

GBP/USD (Aug 31 at 08:52 GMT)

1.6213/18 (-0.30%)

H 1.63 L 1.6181

S3	S2	S1	R1	R2	R3
1.6127	1.6168	1.6208	1.6226	1.6267	1.6307

[?]Trend Index	[?]OB/OS Index
Slightly Bullish	Neutral
Data updated on Aug 31 at 08:50 (15-minute timeframe)

[ View GBP/USD technical studies ]

GBP/USD Current Price: 1.6507

Fri, Aug 21 2009, 01:01 GMT
http://www.fxstreet.com

FXstreet.com (Buenos Aires) – GBP/USD Current Price: 1.6507. Holding just under 1.6520 static resistance zone, along with 200 EMA. Hourly indicators have turned slightly bullish, pointing for some gains in the next hours, thus clear opening above 20 SMA will give further support to the bias.

“Above that, next resistances come at 1.6550 and 1.6600, 20 SMA in the daily; pair has reached and retreat strongly that level several times, suggesting that another failure attempt could turn the pair bearish in the midterm,” said Valeria Bednarik, collaborator at FXstreet.com.

Support levels: 1.6470 1.6440 1.6410. Resistance levels: 1.6520 1.6550 1.6600.

• GBP/USD

GBP/USD (Aug 30 at 04:02 GMT)

1.6267/72 (0.00%)

H 1.6267 L 1.6267

S3	S2	S1	R1	R2	R3
1.6186	1.6226	1.6267	1.6267	1.6308	1.6348

[?]Trend Index	[?]OB/OS Index
Slightly Bullish	Neutral
Data updated on Aug 30 at 04:02 (15-minute timeframe)

[ View GBP/USD technical studies ]