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  1. EUR/USD Under Pressure on US Election Day

    by , 11-06-2012 at 11:09 AM
    [COLOR=#444444][FONT=Arial][B][URL=""]EUR/USD[/URL] reamins under pressure in cautious trading, as the gruelling presidential campaign is finally over, and Americans go to the polls to choose a new president. The race is extremely tight, but President Obama has a slight edge in the battleground states, and is considered a slim favorite. In today’s Euro-zone releases, Spanish and Italian Services PMIs were better than forecast, but German Factory Orders plunged 3.3%, its sharpest drop since January.[/B][/FONT][/COLOR]
    [COLOR=#444444][FONT=Arial]Here’s an update about technical lines, fundamental indicators and sentiment regarding EUR/USD.[/FONT][/COLOR]
  2. USDJPY stays in a upward price channel

    by , 11-05-2012 at 10:14 PM (Free Forex Market Analysis)
    USDJPY stays in a upward price channel on 4-hour chart, and remains in uptrend from 77.43, the fall from 80.67 is likely consolidation of the uptrend. Support is at the lower line of the price channel, as long as the channel support holds, the uptrend could be expected to resume, and another rise towards 81.00 is possible after consolidation. On the other side, a clear break below the channel support will indicate that lengthier consolidation of the uptrend is underway, then range trading between 79.27 and 80.67 could be seen to follow.

    Daily Forex Forecast

    by , 11-05-2012 at 09:30 PM (The Daily Forecaster)
    [B]BIAS[/B]: While 80.34-45 caps we should see further downside progress

    [B]Resistance[/B]:... 80.35-45... 80.67........ 80.82... 81.09
    [B]Support[/B]:........ 80.15........ 79.95-05... 79.74... 79.40-50

    [B]MAIN ANALYSIS[/B]: Price failed to make the additional leg higher to 80.74-79 but saw direct loss of 80.33 that implies the recycling lower is now under way. We should now see the 80.35-45 area cap for losses to resume and down through 79.95-05 and 79.74 to the 79.40-50 area for a correction followed by a final dip into the 79.02-27 area. I expect this to support for a resumption of the daily uptrend.

    [B]COUNTER ANALYSIS[/B]: It will take a break above 80.67-79 to suggest the next ...
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