Moving Average Breaches
GBPUSD: We spoke about this move the other day. Price was pushing up against trend line Resistance just as the 50 day moving average was hitting the same level. This combination exerted tremendous pressure against the GBP.
Tag: USDJPY
Major Currencies’ Midday Report 23/ June /2010
EURUSD The pair neared the awaited pivotal resistance at 1.2330, yet still struggling to stabilize above the 50 MA. The suggested morning scenario remains intact, yet we again point out to the signs of an expected bearish...
USD/JPY 90.52 – 23 June 2010
USD/JPY Open 90.57 High 91.07 Low 90.33 Close 90.56On Tuesday Dollar/Yen resumed descending, in line with the Interbank sentiment at nearly -63%. The currency couple depreciated from 91.07 to 90.34 yesterday, closing the day at 90.56. Today...
Major Currencies’ Morning Report 23/ June /2010
EURUSD The pair touched 1.2240 – 38.2% Fibonacci correctional level– ,moving according to the suggested midday scenario yesterday on its way to complete forming the bearish technical pattern shown below. We currently await some upside movement; targeting 1.2330 –...
Major Currencies’ Midday Report 22/ June /2010
EURUSD The pair is negatively pressuring pivotal support mentioned this morning at 1.2280; whereas we see the possibility of a bearish technical pattern appearing on the four hour chart below.
Chart Patterns
USDCHF: We have been talking about this pair for sometime in light of its recent move against the Greenback. Analyzing a 4hr chart we see a great Head and Shoulders pattern appear signaling this move. The longer...
Major Currencies’ Morning Report 22/ June /2010
EURUSD The negative pressure on the pair yesterday has caused the breach of pivotal support levels starting from the bullish channel and passing by the retest of the previously broken neckline at 1.2330. SMA 50 has stopped the pair’s...
Major Currencies’ Midday Report 21/ June /2010
EURUSD The pair bearishly reversed due to negative pressures from momentum indicators over four-hour basis shown above, trading is still within the minor bullish channel while we await it to carry the pair to touch the resistance...
Forexpros.com Daily Analysis – 21/06/2010
ForexPros Daily Analysis June 21, 2010 Fundamental Analysis: Existing Home Sales Traders of the US look forward to the publication of the Existing Home Sales. It measures the annualized number of existing residential buildings that were sold...
USD/JPY 91.14 – 21 June 2010
USD/JPY Open 90.41 High 91.38 Low 90.23 Close 90.66On Friday Dollar/Yen continued the main decreasing trend, in line with the Interbank sentiment at around -60%. The currency couple depreciated from 90.93 to 90.54 on Friday, closing the...