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 ]

JPY crosses holding bid tone in early Tokyo

Fri, Aug 28 2009, 00:19 GMT
http://www.forexlive.com

EUR/JPY is back up close to rumoured sell ordesr at 134.80/00 but is showing little signs of tiredness. It must be Friday as I've been thinking to myself that USD/JPY might be a good buy. Perhaps I need a break! I'll hand over to Sam for the next few hours and turn my platform off to resist taking trades I don't really believe in.

EURJPY pulls back slightly into fix

Fri, Aug 28 2009, 01:07 GMT
http://www.forexlive.com

EURJPY and other Yen crosses have pulled back a touch into the Tokyo fix after solid early morning gains. Traders report some sell orders at 135.00, after already running up this morning from the low 134's on short covering. However the pullback has only been 30 odd pips with good demand seen on dips today. Once again the Asian Equity markets will be in focus. The Nikkei is currently up 0.6%.

AUDUSD retests overnight highs

Fri, Aug 28 2009, 01:42 GMT
http://www.forexlive.com

AUDUSD is trading above 84c and looks set to challenge the overnight high of 8417. There are sell orders ahead of 8430 and then more up at the previous top 8470/80. Market is short AUDUSD and AUDJPY on the back of Asian equity markets, in particular the Shanghai Composite, which traders believe should remain under pressure heading into month end. Personally, I will be selling into the rally up towards 8470/80 if I see it.

EUR/USD Current Price: 1.4369

Fri, Aug 28 2009, 01:50 GMT
http://www.fxstreet.com

FXstreet.com (Buenos Aires) – EUR/USD Current Price: 1.4369. Pair upside break due to thin market conditions late America, has left the pair consolidating above 1.4340 now strong support area, and with doors open for further rises, as 4 hours charts have indicators support the bias.

“A bit exhausted in the hourly, some consolidation could be seen during next hours, ahead of another break out,” said Valeria Bednarik, collaborator at FXstreet.com. Only under 1.4300 pair can regain downside strength.

Support levels: 1.4340 1.4300 1.4250. Resistance levels 1.4380 1.4410 1.4445.

• EUR/USD

EUR/USD (Aug 28 at 06:02 GMT)

1.4358/59 (0.08%)

H 1.4378 L 1.4344

S3	S2	S1	R1	R2	R3
1.4273	1.4309	1.4344	1.4358	1.4393	1.4429

[?]Trend Index	[?]OB/OS Index
Neutral	Neutral
Data updated on Aug 28 at 05:15 (15-minute timeframe)