Forex Trading: mixed results for the USD

In advance of the Christmas holiday and the last day of Forex trading for the week, the US Dollar was mixed in extremely light trading on Thursday.  The first early part of the FX trading session showed the US Dollar falling,  after the worse than expected housing data were releases. However, data released late in Thursday’s session ...

Forex Analysis: the USD is gaining some ground

Monday saw the USD continued its recent rally, as Forex investors were closing out their positions before the end of year holidays. In a very light trading session, Forex traders who were buying the USD were hoping that early next year will bring about an interest rate hike in the USD, signaling the unofficial end to ...

Forex Technical Analysis for Wednesday, July 1st, 2009

Daily  Forex – Day Trading FX Currency Daily stance Analysis EURUSD  0/- 1.4135 looks key resistance. Abv sees 1.4200-25, holding below puts 1.4000-25 in focus. EURJPY  0/- Suppt at 134.80-90 needs to hold for 136.0 again, else 132.60 beckons.  USDJPY  0/- Seen capped at 96.35. Look to sell rallies for a re-test of 95.0. Stop abv 96.65. GBPUSD  0/- 2009 high at 1.6660 may cap again. Sell there, stop abv ...

Forex Technical Analysis for Monday, June 29th, 2009

Daily  FX – Day Trading FX Currency Daily stance Analysis EURUSD 0/+ Cautiously bullish for now, we are buying looking for upside towards 1.4010, stop at 1.3910. EURJPY 0/+ Looks like solid bids available around 133.00, looking for 135.50. USDJPY 0/+ Support 96.60, resistance around 97.20 area, and more offers around 98.00. GBPUSD 0 Ranging 1.6345 and 1.6300, look for cable to hold around these levels. AUDUSD 0/+ Gains bring capped at 0.8050 ...

Forex Technical Analysis for Friday, June 26th, 2009

Daily  FX – Day Trading FX Currency Daily stance Analysis EURUSD 0 1.3935-70 in a directionless asia session.  Look for direction into the day with UK retail numbers expected to set the tone. EURJPY 0 Range trade, selling near 133.88 and buying back near 132.40. USDJPY 0 Ranging 95.90 and 95.65 expected. Lackluster price action in asia so far. GBPUSD 0/+ Pivoting around 1.6400 and bids showing around 1.6370. AUDUSD 0 Data showed ...

Forex Technical Analysis for Wednesday, June 24th, 2009

Daily  FX – Day Trading FX Currency Daily stance Analysis EURUSD 0/+ 1.3800 proved solid support at head and shoulders neckline, EURUSD climbing steadily EURJPY 0/- Look to sell 134.50 as we think it could bounce higher before heading lower again USDJPY 0 Sideways action expected, remain rangebound 96.00 and 96.80 GBPUSD 0/- Looking to sell around 1.6450-70 area looking for more downside AUDUSD 0/- Sell near resistance around 0.9750, looking for a ...

Forex Technical Analysis for Monday, June 22nd, 2009

Daily  Forex – Day Trading FX Currency Daily stance Analysis EURUSD  0/- Selling rallies near 1.3820 area, targeting support of around 1.3750 and further down towards 1.3650 EURJPY  0/- Finding some bids aound 133.30. We prefer sell rallies from here. USDJPY  0/- Whipsaw around 96.60-97.00. Expect further downside as we favour JPY over the USD. GBPUSD  0/- Selling 1.6280 with stop above 1.280 bid, looking for 1.6100. AUDUSD  0/- Look for further equity/commodity ...

Forex Technical Analysis for Friday, June 19th, 2009

Daily  FX – Day Trading FX Currency Daily stance Analysis EURUSD 0/- A break of 1.3900 opens up downside scope towards 1.3810 and further down at 1.3650 this week EURJPY 0/- Ranginging 137.80- 136.90. Look for break either side, we are slightly biased short side for now USDJPY 0/+ Sell orders clustered around 98.50. A break will quickly see a test of 99.00 handle and further upside GBPUSD 0/+ Looking ...

Forex Technical Analysis for Thursday, June 18th, 2009

Daily  FX – Day Trading FX Currency Daily stance Analysis EURUSD 0/+ Maintaining positive EURUSD, looking for 1.4170 and further at 1.4250. Stops clustered around 1.4050 EURJPY 0/+ Slight uptrend still intact, expecting range 138.40 – 136.75. Stay long EURJPY USDJPY 0/- USDJPY looking toppish around 97.85. Short with target of 97.40 before weekend. GBPUSD + Support 1.6440. Buy on dips looking for 1.6600 today. AUDUSD 0/+ We continue to be buyers around ...