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- Friday, 16 October 2009 23:31:29 GMT Forex Options and Futures Point to British Pound, US Dollar Recovery
- Thursday, 15 October 2009 07:56:53 GMT EUR/USD Sell Recommendation Issued @1.5035 (Daily Classical)
- Wednesday, 30 September 2009 19:25:50 GMT Euro Firms Following Equities Lead, But is There Weakness Ahead?
- Tuesday, 29 September 2009 14:55:13 GMT Yen Trades On Technical Levels As Fundamental Factors Lose Influence
- Tuesday, 15 September 2009 12:30:28 GMT Sterling Hammered As BOE Looks to Deposit Rate (Morning Slices)
- Tuesday, 08 September 2009 07:55:25 GMT USD/CAD Dips to Be Used As Position Build Opportunity (Daily Classical)
- Wednesday, 02 September 2009 00:29:01 GMT Dollar Boosted by Risk Aversion and Data, Rallies to a Two-Week High
- Tuesday, 01 September 2009 11:58:16 GMT Currencies Fail to Hold Early Gains; USD Rallies (Morning Slices)
- Monday, 31 August 2009 08:11:04 GMT Euro Stalling Out Shy of Recent 2009 High (Daily Classical)
- Monday, 24 August 2009 17:42:04 GMT Japanese Yen Forecast Bullish on Forex Options Sentiment
- Friday, 21 August 2009 13:42:55 GMT Chinese Yuan Has Been Artificially Kept in a Range
- Monday, 17 August 2009 15:40:14 GMT Euro Considers Close Below 50-Day SMA (Daily Classical)
- Thursday, 13 August 2009 17:16:16 GMT Dollar/Yen Testing Rising Channel Support (Daily Classical)
- Tuesday, 11 August 2009 16:35:05 GMT Cable Supported by 50-Day SMA...For Now (Daily Classical)
- Monday, 10 August 2009 13:56:39 GMT Euro Eyes Retest of 50-Day SMA (Daily Classical)
- Thursday, 06 August 2009 16:50:26 GMT Cable Breaks Down After Series of Consecutive Higher Lows Broken (Daily Classical)
- Wednesday, 05 August 2009 16:48:26 GMT Euro Showing Signs of Short-Term Top (Daily Classical)
- Monday, 03 August 2009 16:46:53 GMT Euro Breaks to Fresh 2009 Highs; Exposes 1.5000 (Daily Classical)
- Thursday, 30 July 2009 17:06:59 GMT Euro Confined to Inside Day Price Action (Daily Classical)
- Wednesday, 29 July 2009 16:53:52 GMT Euro Setbacks Introduce Prospect for Major Double Top (Daily Classical)
• Euro well offered after stalling ahead of 1.4175
• Dollar/Yen could be putting in double bottom
• Cable forms bearish outside day after posting fresh 2009 highs
• Dollar/Swiss supported as anticipated on dips below 1.0800
EUR/USD
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EUR/USD – Although the head & shoulders top is taking its time to play out, the overall structure still looks quite toppish and we anticipate a fresh drop below 1.3750 over the coming days to expose the measured move objective by 1.3250 further down. The latest price action helps to confirm, with rallies stalling out ahead of 1.4175 on Tuesday, before reversing sharply back towards Monday’s lows. A break below 1.3980 should accelerate declines. Only back above 1.4015 gives reason for pause. Strategy: SIDELINED FOR NOW; LOOK TO SELL. |
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USD/JPY
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USD/JPY – For now, it looks like the market is content on trading within a broad range, loosely defined between 94.00-100.00. The latest setbacks have been very well supported on dips below 95.00 and Tuesday’s rally could now be setting up the potential for a double bottom with a break back above the neckline at 96.60 to open a move back towards the upper range, with the 98.00 figure seen as a measured move objective. Inability to clear 96.60 will however keep the pressure on the downside and shift the focus on the key 93.55-85 trend lows from March and May. Strategy: STAND ASIDE; AWAIT CLEARER SIGNAL. |
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GBP/USD
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GBP/USD – Despite the surge to fresh 2009 highs by 1.6745 on Tuesday we retain our bearish bias. The market has failed to hold onto fresh gains and has reversed quite sharply to take out the previous daily low. This now sets up a bearish outside day and exposes a more significant drop over the coming sessions back towards 1.6185. In the interim, look for any rallies to be well capped ahead of 1.6600. Strategy: SIDELINED FOR NOW; LOOK TO SELL. |
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USD/CHF
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USD/CHF – As expected, dips below 1.0800 have been very well supported on Tuesday with the market reversing course and rallying back towards 1.0900 thus far. The market is in the process of carving a meaningful base and we look for a fresh higher low by 1.0780 ahead of the next upside extension back above 1.1025 and towards our 1.1500 medium-term objective. Ultimately, only a close back below 1.0750 would negate. Strategy: SIDELINED FOR NOW; LOOK TO BUY. |
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Written by Joel Kruger, Technical Currency Strategist for DailyFX.com. If you wish to receive Joel's reports in a more timely fashion, e-mail jskruger@fxcm.com and you will be added to the "distribution" list.
Joel Kruger publishes 6 daily pieces:
“Tech Talk” – A Daily Video Highlighting Technical Developments in the Overnight Session of Trade.
Monday-Friday (between 5:30am-6:30am EST)
“Morning Slices” – Morning Overview using Fundamental, Technical, Flow, and Quantitative Analysis (Includes “Trade of the Day”).
Monday-Friday (between 6:30am-7:30am EST)
“Indicator of the Day” – A Feature Report that Highlights our Most Significant Technical Indicator of the Day.
Monday-Friday (between 8:00am-9:00am EST)
“Cross Country” – A Midday Fundamental Update, along with Technical Analysis of Selected Cross Rates.
Monday-Friday (between 10:30am-11:30am EST)
“Scandi Daily” – A Specialized Daily Fundamental and Technical Overview of the Nordic Currencies. (This report is only distributed through email. Please contact Nordic@fxcm.com if you would like to be added to distribution.)
Monday-Friday (between 11:30am-12:30pm EST)
“Daily Classical” – A Daily Technical Overview of the Major Currencies.
Monday-Friday (published between 2:00pm-3:00pm EST)
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