Tuesday, September 15, 2009

Euro still strong supported by risk appetite

Tue, Sep 15 2009, 23:56 GMT
http://www.fxstreet.com

FXstreet.com (Buenos Aires) - The EUR/USD remains strongly bullish, consolidating close to past Monday’s high; that signals chances of further upside movements are high, with key 1.4720, past December high, as first resistance level to consider; as there are also good chances of stop losses just above that level, expect the pair to gain momentum if breaks the resistance, with next level to watch at 1.4770, followed by the 1.4830 zone. To the downside, first support lies at 1.4650, followed by the 1.4605 level, and strong 1.4550 support zone.

Asian stocks are expected to open higher following Wall Street, yet at least this week that was something that did not happened; with non fundamental data to watch, currencies will likely follow Nikkei 225 and Shanghai Composite during this session. If both fall, expect some downside correction in the pair, thus limited as sentiment will likely keep Euro well bid.

EUR/USD (Sep 16 at 05:35 GMT)

1.4675/79 (0.08%)

H 1.4685 L 1.4655

S3S2S1R1R2R3
1.45991.46361.46721.46861.47231.4760
[?]Trend Index[?]OB/OS Index
Strongly BullishNeutral
Data updated on Sep 16 at 05:15 (15-minute timeframe)

[ View EUR/USD technical studies ]
Posted by Alina at 10:40 PM 1 comments

New highs for stocks; new lows for the Dollar

Tue, Sep 15 2009, 21:49 GMT
http://www.fxstreet.com

FXstreet.com (Córdoba) – Comments and data fueled equities in the U.S. Wall Street rose and main stock indexes posted fresh highs for the year. The Dow Jones closed at 9680 points and the S&P500 at 1053; both closed at the highest level since October of 2008. Ben Bernanke said that the recession is “likely over” and earlier the Commerce Department announce that retail sales jumped 2.7% on August, while analyst where expecting an increase of 2%. The Dollar fell across the board again posting fresh multi-month low against the Euro and the Swiss Franc.

Dollar weakness continues

EUR/USD jumped during the American session rising from 1.4580 to 1.4688, posting the highest price since December. Greenback failed to hold gains and lost ground. The pair has fallen seven times in the last eight days.

Cable fell across the board on Tuesday but during the American session recovered part of the losses. GBP/USD bottomed at 1.6400 (one-week low) and from there rose, but failed to hold above 1.6500. The par fell for second day in a row. Against the Euro, Cable plunged to a 4-month low. EUR/GBP rose above 0.8840 to 0.8890.

The Yen finish mixed across the board. USD/JPY is back above 91.00 but only a few pips on top of the opening price. GBP/JPY tumbled to 149.40 posting a two-week low. Currently the pair is holding above 150.00. EUR/JPY rose breaking above key level at 133.30.

EUR/USD (Sep 16 at 05:35 GMT)

1.4675/79 (0.08%)

H 1.4685 L 1.4655

S3S2S1R1R2R3
1.45991.46361.46721.46861.47231.4760
[?]Trend Index[?]OB/OS Index
Strongly BullishNeutral
Data updated on Sep 16 at 05:15 (15-minute timeframe)

[ View EUR/USD technical studies ]
FXstreet.com
Posted by Alina at 10:39 PM 0 comments

Forex: USD/JPY back above 91.00

Tue, Sep 15 2009, 20:45 GMT
http://www.fxstreet.com

FXstreet.com (Córdoba) – The Dollar managed to recovered against the Yen after falling to 90.80. The Japanese currency weakened and failed to hold below 91.00 against the Dollar. USD/JPY is back on top of 91.00 but only a few pips above. The pair is rising for the second day in a row, current price at 91.05/07 is 0.20% above today’s opening price. Despite the increase Greenback is far form intra-day high that was set during the European session at 91.60.

The Yen is rising for the day against Cable but in the last hours the rally eased. GBP/JPY is back above 150.00 after falling 149.50 posting the lowest price in two weeks. EUR/JPY on the other side is rising and consolidating above 133.50 which suggest that the pair could continue rising in the next hours. The next resistance above 133.70 lies at 134.15.


EUR/JPY (Sep 16 at 05:36 GMT)

133.51/56 (0.07%)

H 133.72 L 133.2

S3S2S1R1R2R3
132.90133.23133.57133.73134.06134.39
[?]Trend Index[?]OB/OS Index
Slightly BullishNeutral
Data updated on Sep 16 at 05:15 (15-minute timeframe)

[ View EUR/JPY technical studies ]
Posted by Alina at 10:39 PM 0 comments

Forex: GBP/USD rebounds at 1.6400 and tests levels above 1.6500

Tue, Sep 15 2009, 19:48 GMT
http://www.fxstreet.com

FXstreet.com (Córdoba) – Cable found support at 1.6400 and from there started to rise. GBP/USD topped at 1.6510 posting the highest price for the American session. The rally in U.S. equities boosted Cable. Currently the pair is back below 1.6500 and is still down for the day, 0.50% below today’s opening price. The next resistance lies at 1.6520 (Sep 14 low) and above at 1.6590.

Against the Euro, the Pound plunged today falling to a fresh 4-month low. EUR/GBP rose to 0.8895 posting the highest price since May 15th.


EUR/GBP (Sep 16 at 05:36 GMT)

0.8914/20 (0.26%)

H 0.89192 L 0.8886

S3S2S1R1R2R3
0.88670.88900.89120.89210.89430.8966
[?]Trend Index[?]OB/OS Index
Slightly BullishNeutral
Data updated on Sep 16 at 05:15 (15-minute timeframe)

[ View EUR/GBP technical studies ]
Posted by Alina at 10:38 PM 0 comments

Forex: Euro rises to 1.4678, fresh 2009 high

Tue, Sep 15 2009, 17:47 GMT
http://www.fxstreet.com

FXstreet.com (Córdoba) – The rise in equities is sending Greenback down across the board. EUR/USD recently broke above 1.4652 to 1.4678, posting a fresh high for the year. The pair is now 0.25% above today’s opening price and is extending a seven day rally. On the upside the next resistance lies at 1.4700 and above at 1.4715 (Dec 18 high).

The FastBrokers Research Team affirms: “Technically speaking, the EUR/USD is still riding high off of last Tuesday’s breakout to the topside. The currency pair continues to set higher lows while trading above the psychological 1.45 level. We still place significance on Tuesday’s movement since the EUR/USD leapt to new 2009 highs. There aren’t any concrete, historical downtrend lines we can cross through present ranges. Hence, the medium-term uptrend is clearly intact. “


EUR/USD (Sep 16 at 05:31 GMT)

1.4678/79 (0.10%)

H 1.4685 L 1.4655

S3S2S1R1R2R3
1.45991.46361.46721.46861.47231.4760
[?]Trend Index[?]OB/OS Index
Strongly BullishNeutral
Data updated on Sep 16 at 05:15 (15-minute timeframe)

[ View EUR/USD technical studies ]
FXstreet.com
Posted by Alina at 10:37 PM 0 comments

Forex: Greenback falls below 91.00 against the Yen

Tue, Sep 15 2009, 17:22 GMT
http://www.fxstreet.com

FXstreet.com (Córdoba) – The rise in U.S. markets boosted the Yen against the Dollar in the last hours. USD/JPY fell below 91.00 to 90.80, only two pips above intra-day low at 90.78. In case the pair breaks below the next support lies at 90.60. Current price at 90.92/94 is 0.05% above today’s opening price. On the upside resistance is located at 91.55 (intra-day high) and above at 91.90 and 92.10.

The FastBrokers Research Team afirms: “Despite the USD/JPY’s negative tendency, the currency pair seems to be running out of room to the downside since it has historical trading ranges nearby dating back to December 2008 and January 2009 lows. Meanwhile, investors continue to act off of the belief that the DPJ will enact economic policies supportive of a stronger Yen. However, it remains to be seen whether the BoJ will alter its monetary policy approach in any dramatic way.”

USD/JPY (Sep 16 at 05:31 GMT)

90.99/03 (-0.01%)

H 91.17 L 90.76

S3S2S1R1R2R3
90.500290.727690.955091.065091.292791.5203
[?]Trend Index[?]OB/OS Index
Slightly BullishNeutral
Data updated on Sep 16 at 05:15 (15-minute timeframe)

Posted by Alina at 10:36 PM 0 comments

Forex: EUR/USD trades above 1.4600 after bouncing at 1.4560

Tue, Sep 15 2009, 16:42 GMT
http://www.fxstreet.com

FXstreet.com (Barcelona) – The Euro is trading back above 1.4600 level against the Greenback after falling 65 pips from 1.4626 to post intra-day low at 1.4560 in the minutes following the better than expected US retail sales report. During the American session, euro has recovered almost all of its previous losses and pair has risen to trade above 1.4600.

Currently the pair is trading around 1.4605/15, 0.10% below today's opening price action at 1.6578.

According to Mohammed Isah, technical analyst at FXTechtrade, current downtrend is a corrective one and the Euro will resume uptrend: "Its overall trend remains higher suggesting that the mentioned price action remains corrective of its MT uptrend. In such a case, its minor support printed Monday at 1.4514 will come in as initial support ahead of its stronger support residing at the 1.4446 level, its Aug 09 high where a reversal of roles is expected to turn EUR higher again."

EUR/USD (Sep 16 at 05:31 GMT)

1.4678/79 (0.10%)

H 1.4685 L 1.4655

S3S2S1R1R2R3
1.45991.46361.46721.46861.47231.4760
[?]Trend Index[?]OB/OS Index
Strongly BullishNeutral
Data updated on Sep 16 at 05:15 (15-minute timeframe)

[ View EUR/USD technical studies ]
Posted by Alina at 10:36 PM 0 comments
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