Daily Analysis Thread

Trading Discussion
147

Overall, the Asian session began with a strong USD, repeating some of the decline seen on Monday. It seems although the USD failing came as the Fed interfered in the treasury market, something that will possibly occur increasingly often.
The Pound (GBP/USD) headed top, gaining little more than 200 pips. It also experienced a flow in force on Monday, after it almost came to a decline in the past few days. The pound had a 30-pip range, during the Asian session.

The Euro (Euro/USD) jumped off the 1.3100 support point and the 100-day moving average to increase. Additionally, the duo led the dollars selling sign until the close of the US session. The euro decline 50pips, during the Asian session.

The Swissy (USD/CHF) jumped off the 50-day moving average during the night session, and fell 240 pips later on. In its downhill path, the swissy broke under the 20,100 and the 50-day easy moving average, the pair increases last week. The swissy increased 40 pips, during the Asian session.

148

[B] Today�s US Dollar Trading[/B]
� USD maintains two-way action, respects S/R
� Stops drive trade in both direction
� Traders note large names on the dips in EURO and GBP

[B]Overnight Preview[/B]
� Look for the USD to continue in two-way action
� Likely will test highs one more time then fail

[B]Looking Ahead to Thursday[/B]
All times Eastern (-5 GMT)
� 8:30am USD Building Permits
� 8:30am USD Unemployment Claims
� 8:30am USD Housing Starts
� 10:00am USD Philly Fed Manufacturing Index
� 10:30am USD Natural Gas Storage
� 1:00pm USD FOMC Member Lockhart Speaks
� 8:00pm USD FOMC Member Yellen Speaks

[B]Summary[/B]
The USD held minor gains against some pairs today but ended the day mixed as cross-spreaders took gains off the table and put the majors into near-term S/R; traders note that stops in range and US data today contributed to intraday volatility but by the end of the day the majors held key S/R putting the Greenback back on the defense through the end of the week. GBP rallied overnight to a high print at 1.5039 before profit-taking and aggressive sellers broke the rate back to the mid-1.4900 handle; the rate is holding firm around the 1.4960 area after regaining the 1.5000 handle several times during the day but upside resistance and sellers in the Sterling crosses kept the rate off the highs. EURO flirted with the 100 day MA for most of the session making lows into support where official bids were seen into the low prints at 1.3146 before rebounding back to the 1.3230 area but was unable to hold the 1.3200 handle giving the bears something to work with. The 100 day MA comes in at 1.3192 and the rate will likely close around that level by end of day leaving both sides with ammunition for their side. USD/JPY rallied on aggressive buying off the European lows of 98.14 back to the 99.00 handle; high prints at 99.67 never traded twice leaving the bulls on the defense as the rate dropped back under the 99.00 handle during the day. The release of the US Fed�s Beige Book gave a slight lift to the rate as post-release highs of 99.30 traded briefly but the rate is firm back around the 99.15 area into the end of day. Traders note that cross-spreaders appear active in the Yen crosses but the move is more corrective suggesting that the bounce may be short-lived as the Japanese remain heavily long Yen putting the pressure on the rate. USD/CHF rallied to a high print at 1.1490 but respected the 100 day MA and fell back under the 1.1440/50 area during the day but is closing firm at 1.1450 area suggesting that a test of the 1.1500/20 area is due but in my view the rate is simply testing upside resistance and will fail by the end of the week as the USD continues to correct. USD/CAD made lows after the news today heading into stops around the 1.2060 area for a low print at 1.2012 making the rate the weakest on the board today; traders note that stops are likely lurking in substantial size under the 1.1980 area and with a close under the 1.2080 area likely today the rate will certainly drag the rest of the complex lower by the week�s end. In my view, the Greenback is continuing to top and aggressive smart-money is working the short side after turning neutral earlier in the month. Late USD buyers will likely have enough firepower to lift the USD into resistance again but you can expect a drop after the move. Look for the Majors to continue in two-way trade overnight with the USD failing to hold gains into the end of week.

[B]GBP/USD Daily [/B]
Resistance 3: 1.5120/30
Resistance 2: 1.5080
Resistance 1: 1.5020/30
Latest New York: 1.4975
Support 1: 1.4580
Support 2: 1.4550
Support 3: 1.4520

[B]Comments[/B]
Rate continues higher after gains to start Monday, tests the psychological 1.5000 area in early New York and finds stops above; failure to close above the 1.5000 area today likely signals a pullback is coming. Retracement overnight holds support at 1.4800 area suggesting the rate will find buyers on a dip to 1.4800. Rate is holding the 100 day MA nicely and aggressive traders can look to buy dips. Pullback being bought by large names traders say. Traders note support is likely firm at the 1.4650 area now; pullbacks likely to be bought. Close over 1.4900 argues for further gains but tech resistance is firm ahead of 1.5000. Overhead target of the 1.5000 area likely to trade again but expect pressure. Traders feel the 23-year lows will likely remain secure. The shorts have lost control of the market above the 1.4440 area now; traders report stops in-range adding for two-way action.
Data due Thursday: All times EASTERN (-5 GMT)
NONE

[B]EURO/USD Daily[/B]
Resistance 3: 1.3380
Resistance 2: 1.3330
Resistance 1: 1.3290
Latest New York: 1.3207
Support 1: 1.3150
Support 2: 1.3120/30
Support 3: 1.3100

[B]Comments[/B]
Rate has two-way overnight, holds support on a dip to 1.3150 area and rallies above 100 day MA. Bids said to be thicker; failure to extend higher with GBP a caution to the bulls. Traders note good sellers above the market but they may be late as traders note protective stops building again above the 1.3300/30 area. Traders report sovereign interest on the dip. Rate appears solid above the 100 day MA. Foothold over the 1.3500 handle needed to extend to the upside. Rate likely has stops building in both directions; overhead resistance at 1.3330/50 area back in play as initial support expected in that area fails. Long-term bulls are likely still in control of the market and this significant pullback is a buying opportunity in my view. Looking to buy this week again if 100 day MA continues to hold.
Data due Thursday: All times EASTERN (-5 GMT)
5:00am EUR CPI y/y
5:00am EUR Core CPI y/y
5:00am EUR Industrial Production m/m
11:00pm EUR ECB President Trichet Speaks

[B]Analysis by: [/B]Forexpros - Written by Jason Alan Jankovsky
[I]Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.[/I]

150

[B]Today�s US Dollar Trading[/B]

� USD holds gains in New York after running stops
� Most pairs respect S/R but volumes light
� Traders note cross-spreaders for Yen active in all pairs

[B]Overnight Preview[/B]

� Look for the USD to follow-on higher overnight
� Short-term traders likely to liquidate longs into resistance

[B]Looking Ahead to Tuesday [/B]

All times Eastern (-5 GMT)
� NONE

[B]
Summary[/B]

The USD ends the first day of the week on a high note making gains against the majors with the exception of the Yen; analysts note that the USD/JPY is holding below the monthly opening range suggesting a technical correction is finally in play. USD/JPY high prints overnight at 99.42 failed to find stops said to be resting above the 99.50 area and weakness in Yen cross-spreads pressured the rate all day. Low prints in late New York at 97.64 cleared stops resting under the 98.00/10 area taking the CTA�s and black-box traders to the cleaners; the rate never managed a bounce of any significance suggesting that a test of the 50 day MA is now in play around the 97.20 area. Traders note that the 270 point sell-off by the DJIA added a bit of pressure to the rate as well with more losses expected overnight arguing for a further USD/JPY decline to start Asia Tuesday. GBP dropped to the 100 day MA for a low print at 1.4499 but quality bids showed up to lift the rate back to the 1.4950 area into the end of the day; traders note that volumes were lighter on the move and stops under the 1.4550 area failed to encourage active selling. EURO remained under pressure dropping to a low print at 1.2888 before regaining the 1.2900 handle and holding 1.2920/30 area most of the day. Traders note that a test of the 1.2880 area likely will encourage another round of bids suggesting that a bounce from support might be in the works overnight. USD/CHF rallied to a high print at 1.1744 before falling back under the 1.1700 handle possibly putting in a high for the week; the rate is holding around 1.1670 area in thin trade leaving a solid sell wick on the day. Traders note buyers were more on the side of technical breakout buying rather than established longs suggesting the rate over-extended to the upside on momentum. USD/CAD rallied to the 1.2380 area for a high print at 1.2385 before dropping back but late bids kept the rate firm on anticipation of a BOC rate cut this week at the next meeting; traders note that longs were large names suggesting that follow-on buying may lift the rate to test the 1.2400 handle but offers are likely waiting in the 1.2420 area overnight. In my view, the USD rally today was largely technical in nature and stops helped drive trade to the highs but the move was mostly corrective in nature. With a large drop in equities today along with potential follow-on selling likely overnight the move in the Greenback has momentum for possibly a new high print for the week but with the technical nature of the action seen it looks to me that the buyers are short-term traders who will book fast gains on further strength. Should that be the case a fall-back in the USD would be due by mid-week setting the stage for declines to end the week. Look for the USD to follow-on higher in Asia to start with sellers likely at the next level of resistance.

[B]
GBP/USD Daily[/B]

Resistance 3: 1.5050
Resistance 2: 1.5000/10
Resistance 1: 1.4950
Latest New York: 1.4542
Support 1: 1.4500
Support 2: 1.4440/50
Support 3: 1.4400

[B]Comments[/B]

Rate falls back as stops fire off under the 1.4650 area; rate dragged lower with EURO but cross-spreaders likely pressuring the most. Highs rejected as profit-taking drops rate; tests of the psychological 1.5000 area now complete with a pullback in the works; big question is where the bulls will take a stand again. Rate likely to find buyers on any dip to the 1.4500 area as this was the breakout area. Rate is still holding the 100 day MA nicely and aggressive traders can look to buy dips. Traders note support is likely firm above the 1.4650 area but dip under clears stops quickly. The shorts have lost control of the market above the 1.4440 area now; traders report stops in-range adding for two-way action. Test of further lows likely to encourage a round of short-covering.

Data due Tuesday: All times EASTERN (-5 GMT)

4:30am GBP CPI y/y
4:30am GBP RPI y/y
4:30am GBP Core CPI y/y
4:45am GBP MPC Member Fisher Speaks
Tentative GBP MPC Member Sentance Speaks

[B]EURO/USD Daily[/B]

Resistance 3: 1.3380
Resistance 2: 1.3330
Resistance 1: 1.3290
Latest New York: 1.227
Support 1: 1.2880
Support 2: 1.2850
Support 3: 1.2820

[B]Comments[/B]

New low on follow-on selling overnight; rate reaches to tech support around 1.2880 but traders say conditions are still on the thin side but better than Friday. Rate has two-way action into the lows suggesting short-term traders and profit-taking by the shorts. Support at or around the 50 day MA now being tested; the 50 day MA is next level needed to hold for the bulls to feel comfortable this week. Need a rally back over within 72 hours for the drop to be considered a correction and not a breakout. Rate likely has stops building in both directions; overhead resistance likely drops to the 1.3080 area; Long-term bulls are likely still in control of the market and this significant pullback is a buying opportunity in my view.

Data due Tuesday: All times EASTERN (-5 GMT)

2:00am EUR German PPI m/m
4:00am EUR Italian Trade Balance
5:00am EUR German ZEW Economic Sentiment
5:00am EUR ZEW Economic Sentiment

New low on follow-on selling overnight; rate reaches to tech support around 1.2880 but traders say conditions are still on the thin side but better than Friday. Rate has two-way action into the lows suggesting short-term traders and profit-taking by the shorts. Support at or around the 50 day MA now being tested; the 50 day MA is next level needed to hold for the bulls to feel comfortable this week. Need a rally back over within 72 hours for the drop to be considered a correction and not a breakout. Rate likely has stops building in both directions; overhead resistance likely drops to the 1.3080 area; Long-term bulls are likely still in control of the market and this significant pullback is a buying opportunity in my view.

Data due Tuesday: All times EASTERN (-5 GMT)

2:00am EUR German PPI m/m
4:00am EUR Italian Trade Balance
5:00am EUR German ZEW Economic Sentiment
5:00am EUR ZEW Economic Sentiment

Analysis by: Forexpros - Written by Jason Alan Jankovsky
Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.

151

[B]Today�s US Dollar Trading[/B]

� USD tries to extend gains and fails
� BOC cuts rates adding to whipsaw
� Traders note stops in range adding to downside for the USD
[B]
Overnight Preview[/B]

� Look for more two-way action
� USD likely to remain under pressure into New York open

[B]Looking Ahead to Wednesday[/B]
All times Eastern (-5 GMT)
� 9:00am USD Treasury Sec Geithner Speaks
� 10:00am USD HPI m/m
� 10:30am USD Crude Oil Inventories

[B]Summary[/B]

The USD ends mixed today after reaching critical S/R numbers after the open and ahead of the London fix. The BOC announced a 25 BP cut in interest rates lifting the USD/CAD sharply higher as stops over the 1.2400 area fired off topping the rate at 1.2509 before cooler heads prevailed. The rate fell back as late buyers were disappointed finding sell-stops in-range bringing the rate back under the 1.2400 handle eventually making a new low on the day at 1.2324; traders now feel the rate has completed a retracement against the recent weakness and with an inverted hammer formation on the daily charts more losses are likely. USD/JPY continued to find strength as the US equities markets held gains on the day finding light stops above the 98.50 area for high prints late in the day at 98.87 as new buyers went with momentum as the rate approached the 200 day MA. Failure to close over the 200 day MA likely will disappoint buyers overnight and a lower day is likely as the bounce lacked enthusiasm. USD/CHF failed to extend gains on USD strength in other pairs and with the firm close in both GBP and EURO the Swissy is likely to advance into the end of the week; high prints at 1.1721 overnight went unchallenged in New York and the rate is holding the 1.1680 area making for a technical inside-range day; lows at 1.1635 missed stops said to be resting around the 1.1610/20 area. GBP rallied to clear close-in stops above the 1.4620 area likely set by late shorts for a high print at 1.4710 before offers capped the move. Despite intraday volatility the rate ends New York firm around the 1.4660 area suggesting that the dip under the 100 day MA attracted short-covering and new buying. Traders note that more stops are likely building over the 1.4710 area from sellers suggesting another leg higher is coming. EURO failed to extend lows holding to an inside-range day as well; high prints at 1.2995 were marginal new highs after the fix but sellers capped the move ahead of offers said to be around the 1.300/20 area. A point of indecision in EURO likely means that upside pressure from other pairs will help keep EURO underpinned near-term. In my view, the failure of the USD to advance after today�s volatility suggests that the top is continuing to form and likely the Greenback will end this week marginally lower against most pairs. I think the reversal in USD/CAD speaks highly to the underlying weakness of the USD and with better overseas fundamentals combined with potential liquidation by China of US denominated assets it will be difficult for USD traders to justify higher prices. Flight-to-Quality buying appears to be ending and when higher priced USD comes into the market the selling pressure will be enormous as traders attempt to protect against a slide in the USD. Look for the Greenback to remain two-way overnight but to remain under pressure.

[B]
GBP/USD Daily[/B]

Resistance 3: 1.4820
Resistance 2: 1.4780
Resistance 1: 1.4720/30
Latest New York: 1.4662
Support 1: 1.4500
Support 2: 1.4440/50
Support 3: 1.4400

[B]
Comments[/B]

Rate extends briefly into the 1.4400 handle and rallies out as shorts cover; stops over the 1.4620 area are large lifting the rate to new highs. Holding firm into the close more upside is likely overnight. Stops said to be building above the 1.4720 area after rate clears close-in stops. Tests of the psychological 1.5000 area now complete with the pullback likely about over. Rate likely to find buyers on any dip to the 1.4500 area as this was the breakout area. Rate is still holding the 100 day MA nicely and aggressive traders can look to buy dips. Traders note support is likely firm above the 1.4650 area now; the shorts have lost control of the market above the 1.4440 area now; traders report stops in-range adding for two-way action. Test of further lows likely to encourage a round of short-covering.

Data due Wednesday: All times EASTERN (-5 GMT)
4:30am GBP Claimant Count Change
4:30am GBP MPC Meeting Minutes
4:30am GBP Average Earnings Index 3m/y
4:30am GBP Public Sector Net Borrowing
4:30am GBP Prelim M4 Money Supply m/m
4:30am GBP Unemployment Rate
7:30am GBP Annual Budget Release

[B]EURO/USD Daily[/B]

Resistance 3: 1.3120
Resistance 2: 1.3080
Resistance 1: 1.3020/30
Latest New York: 1.2936
Support 1: 1.2880
Support 2: 1.2850
Support 3: 1.2820

[B]
Comments[/B]

Rate has inside-range day so far failing to extend to a new low on follow-on selling overnight; rate reaches to tech support around 1.2880 but traders say conditions are still on the thin side. Rate has two-way action into the lows suggesting short-term traders and profit-taking by the shorts. Support at or around the 50 day MA now being tested; the 50 day MA is next level needed to hold for the bulls to feel comfortable this week. Need a rally back over within 72 hours for the drop to be considered a correction and not a breakout. Rate likely has stops building in both directions; overhead resistance likely drops to the 1.3080 area; Long-term bulls are likely still in control of the market and this significant pullback is a buying opportunity in my view.

Data due Wednesday: All times EASTERN (-5 GMT)
NONE

Join us for the Afternoon US Dollar Wrap-Up daily at 3:15 pm Central/Chicago time (GMT -6)

Analysis by: Forexpros - Written by Jason Alan Jankovsky
Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.

152

[B][U][B]Today�s US Dollar Trading[/B][/U][/B]

� USD early strength evaporates
� Some pairs make lows after London fix
� Traders note large names on the bid in EURO and GBP

[B][B]Overnight Preview[/B][/B]
� Look for the USD to remain two-way overnight
� Likely a weak end to the week coming

[B][B]Looking Ahead to Thursday [/B][/B]
All times Eastern (-5 GMT)
� 8:30am USD Unemployment Claims
� 10:00am USD Existing Home Sales
� 10:30am USD Natural Gas Storage

[B][U][B]Summary[/B][/U][/B]
The USD suffered a violent whipsaw today first rising to highs during early New York trade before reversing to make lows against some pairs and end mixed. Rising to highs against the GBP, low prints were hit early as stops and aggressive selling dropped the rate to a low print 0f 1.4395 before short-covering and aggressive buying lifted the pair back to the 1.4500 handle to hold around 1.4510/20 area most of the day. Traders note middle-eastern names on the buy side around the 1.4420 area and slightly lower as the 50 day MA offered support helping the rate to reverse during the London fix. Traders note cross-spreaders also active on the sell side of the Sterling spreads helping to push the rate lower but most caught wrong-footed as the rate rallied. Helping to lift the GBP higher, EURO rallied after lows at 1.2885 overnight were bought lifting the rate to hold around the 1.2530 area; shortly before the London fix the rate exploded to the upside triggering stops above the 1.3000 handle for a high print at 1.3038 before two-ay action dropped the rate back under the 1.3000 handle. Eventually recovering to hold the 1.3020 area in late trade the EURO holds above key S/R into the close. USD/CHF remained under pressure eventually making new lows on the day at 1.1599 before lifting to the 1.1680 area in two-way action; the rate fails into the end of the day to trade the 1.1620/30 area in light trade making for a near-term technical top with a weaker close. USD/JPY found support on a dip to the 97.50 area with a low print at 97.56 before regaining the 98.00 handle in late trade; high prints overnight at 98.75 remained unchallenged but the rate holds 98.10/20 area into the end of day. USD/CAD rallied to a high print while the Greenback moved higher elsewhere making a top at 1.2479 before reversing to make lows at 1.2326; the rate ends the day around the 1.2380 area after briefly whipsawing back to the 1.3400 handle but the rate couldn�t hold the gains. In my view, the USD is continuing to set-up a top as has been the case the last few weeks; most traders note that momentum traders tried to buy USD as the GBP wilted this morning but were turned back across the board despite the rally mid day in most pairs. The Greenback is unable to hold gains heading into the end of week suggesting the possibility that the majors have found their bottom for this week and possibly for the month setting up a further decline to end the month. Look for the USD to remain two-way overnight as traders await the results of the G-7 meeting this weekend resulting in quiet trade ahead; key S/R levels are now in play and if the majors can hold gains a short-covering rally is likely near-term.

[B][U][B]GBP/USD Daily [/B][/U][/B]
Resistance 3: 1.4820
Resistance 2: 1.4780
Resistance 1: 1.4720/30
Latest New York: 1.4620
Support 1: 1.4500/10
Support 2: 1.4440/50
Support 3: 1.4400

[B][B]Comments[/B][/B]
Rate gets slammed as stops and active selling from cross-spreaders break the rate under the 1.4440 support zone; retraces earlier gains to probe for stops in range. Rate likely to have stops building in-range to the upside now that downside stops cleared in a rush. Rate recovers ahead of the fix and regains the 1.4500 handle for most of the day but remains whippy. Initial test of the psychological 1.5000 area now complete with the pullback likely about over as well and the rate is ready to try for the 1.5000 handle again. Rate likely to find buyers on any dip to the 1.4500 area as this was the breakout area. Rate tests the 50 day MA before recovering back to hold near the 100 day MA; aggressive traders can look to buy dips. The shorts have lost control of the market above the 1.4440 area now; traders report stops in-range adding for two-way action. Test of further lows likely to encourage a round of short-covering.
Data due Thursday: All times EASTERN (-5 GMT)
6:00am GBP CBI Industrial Order Expectations

[B][U][B]EURO/USD Daily[/B][/U][/B]
Resistance 3: 1.3120
Resistance 2: 1.3080
Resistance 1: 1.3020/30
Latest New York: 1.3005
Support 1: 1.2880
Support 2: 1.2850
Support 3: 1.2820

[B][B]Comments[/B][/B]
Rate makes two-pip monthly low before bouncing back to the 1.2950 area, rallies again ahead of fix to clear stops said to be resting around the 1.3020/30 area but holds. Rate reaches to tech support around 1.2880 but traders say conditions are still on the thin side. Rate has two-way action into the lows suggesting short-term traders and profit-taking by the shorts. Support at or around the 50 day MA now being tested; the 50 day MA is next level needed to hold for the bulls to feel comfortable this week. Need a rally back over within 72 hours for the drop to be considered a correction and not a breakout. Rate likely has stops building in both directions; overhead resistance likely drops to the 1.3080 area; Long-term bulls are likely still in control of the market and this significant pullback is a buying opportunity in my view. Stops above the 1.3030 area likely today.

Data due Thursday: All times EASTERN (-5 GMT)
3:00am EUR French Flash Manufacturing PMI
3:30am EUR German Flash Manufacturing PMI
4:00am EUR Current Account
4:00am EUR Flash Manufacturing PMI
4:00am EUR Flash Services PMI
5:00am EUR Industrial New Orders m/m
9:00am EUR Belgium NBB Business Climate

[B][B]Analysis by:[/B][/B] Forexpros - Written by Jason Alan Jankovsky
[I][I]Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.[/I][/I]

154

[B]EURO/USD[/B] is expected to swing and slide for today
EURO/USD made the drop to 1.3248 and then rose to a high 1.3332 - a wide range swing to induce traders to make buy after rise and sell after fall.Also the rise in EURO and slide in GBP is to rise [B]EURO/GBP[/B] cross before making further drop in the cross.

EURO is expected to slowly swing and slide for today before making the rise from tomorrow and Friday.

[B]GBP/USD[/B] is expected to swing and slide more
GBP/USD made the drop to 1.4995 and then rose to a high 1.5120 - a wide range swing to induce traders to make buy after rise and sell after fall. Also the drop in GBP and rise in EURO is to rise EURO/GBP cross before making further drop in the cross.

GBP is expected to slowly swing and slide for today before making the rise from tomorrow and Friday.

Analysis by:Forex | Forex Trading | Currency Trading | Forex Brokers - Written by Dr.S.Sivaraman

Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.

:cool:

155

Expected moves in [B]EURO/USD[/B] during important event day

EURO/USD was trading in the range of 1.3450-1.3230 area early in this week .It is expected to make highly volatile moves today during the BOE and ECB interest rate announcement time and also during ECB press conference time.
EURO/USD is expected to break the initial high (1.3356) and low (1.3278) set for the day during European and US sessions. A low in the range of 1.3150-1.3200 could be formed during European session and a high of 1.3450-1.3520 could be formed during US session before tomorrow another big event NFP data release.

[B]GBP/USD[/B] - highly volatile moves expected today

GBP/USD was trading in the range of 1.5150-1.4980 area early in this week .It is expected to make highly volatile moves today during the BOE and ECB interest rate announcement time and also during ECB press conference time.
GBP/USD is expected to break the initial high (1.5156) and low (1.5101) set for the day during European and US sessions. A low in the range of 1.4850-1.4900 could be formed during European session and a high of 1.5200-1.5270 could be formed during US session before tomorrow another big event NFP data release.

Analysis by: Forex | Forex Trading | Currency Trading | Forex Brokers - Written by Dr. Sivaraman

Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.

:cool:

156

News at forexpros.com, fxstreet.com, and at my broker: ac-markets.com are the sites that I use to keep up with the news�
THANKS!:smiley:

157

EURO/USD is expected to swing and slide for a day
EURO after making upward rise for week end as expected by us is going to slide today as week beginning false drop before further rise from mid week.
It has formed 1.3667 as high for today and then started the slide to 1.3592.it is expected to swing and slide further to 1.3487 area today.

GBP/USDis expected to swing and slide for today
GBP after making upward rise for week end as expected by us is going to slide today as week beginning false drop before further rise from mid week.
It has formed 1.5263 as high for today and then started the slide to 1.5192.it is expected to swing and slide further to 1.5037 area today.

Analysis by: Forex | Forex Trading | Currency Trading | Forex Brokers - Written by Dr. Sivaraman
Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.

158

EURO/USD - Volatile moves expected to lead to further rise
EURO/USD made the expected correction yesterday. Today it has formed the high (1.3616) and low (1.3564) during early Japanese session. It is expected to make volatile moves to cut the low and go below during European session to the expected area of 1.3500 and then rise from late European session to go above the high to the area of 1.3650 and above. Quick drops are buy opportunities during European session to book profit during US session quick rise.

GBP/USD is expected to swing and rise
GBP/USD made the expected correction yesterday. Today it has formed the high (1.5140) and low (1.5076) during early Japanese session. It is expected to make volatile moves to cut the low and go below during European session to the expected area of 1.5030 and then rise from late European session to go above the high to the area of 1.5250 and above. Quick drops are buy opportunities during European session to book profit during US session quick rise.

Analysis by: Forex | Forex Trading | Currency Trading | Forex Brokers - Written by Dr. Sivaraman
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159

EURO /USD to make volatile moves for mid week; EURO/USD made the firming up moves towards close of US session yesterday as expected. Today EURO opened nominally up during start of Japanese session setting the high as 1.3721 and low as 1.3641.it is expected to slide initially up to low towards close of Japanese session and then rise during early European session near high and then slide from mid European session through early US session and near low it is expected to swing till close of US session.

GBP/USD to make volatile moves for a day; GBP/USD made the firming up moves towards close of US session yesterday as expected. Today GBP opened nominally up during start of Japanese session setting the high as 1.5320 and low as 1.5253.it is expected to slide initially up to low towards close of Japanese session and then rise during early European session near high and then slide from mid European session through early US session and near low it is expected to swing till close of US session.

Trading Futures and Options on Futures and Cash Forex transactions on Forexpros involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.

160

[B][B]EURO/USD[/B][/B] is expected to swing and rise for the day; EURO has made the higher level consolidation and made the drop as expected from 1.3721 to 1.3556 area yesterday.
Today the trading range during Japanese session is 1.3526-1.3600. Euro is expected to make a quick drop and recovery move below the low during the early European session and then swing and firm up during mid European session to drop again during late European and early US session and then rise quickly upward from mid US session to go above the high set for today.

[B][B]GBP/USD[/B][/B] is expected to swing near low and firm up as market surprise; GBP has made the higher level consolidation and made the drop as expected from 1.5331 to 1.5088 area yesterday. Today the trading range during Japanese session is 1.5100 -1.5159. GBP is expected to make a quick drop and recovery move below the low during the early European session and then swing and firm up during mid European session to drop again during late European and early US session and then rise quickly upward from mid US session to go above the high set for today.

Analysis by: Forex | Forex Trading | Currency Trading | Forex Brokers - Written by Dr. Sivaraman
Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.

161

EURO has created the greater level consolidation and created the downfall as predicted from 1.3721 to 1.3556 areas yesterday.
Today the trading range meanwhile Japanese session is 1.3526 to 1.3600.
Euro is predicted to create a rapid fall and recovery move below the low during the early European session and then swing and firm up during mid European.

162

[B][B]EURO[/B][/B] is expected to swing and rise; EURO made the high 1.3489 and low 1.3425.The drop is week beginning false move. It is expected to make a new low below the low briefly during close of Japanese session and then swing and rise during European session to dip again towards close of European session to rise during US session above high.
[B][B]GBP/USD[/B][/B] is expected to swing and rise; GBP made the high 1.5178 and low 1.5120.The drop is week beginning false move. It is expected to go near low briefly during close of Japanese session and then swing and rise during European session to dip again towards close of European session to rise during US session above high.

Analysis by: Forex | Forex Trading | Currency Trading | Forex Brokers - Written by Dr. Sivaraman; Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether Forex online trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.

163

EURO/USD EURO completed the high 1.3489 and low 1.3425.The fall is week start counterfeit move. It is predictable to create a novel low under the low momentarily throughout seal of Japanese session and then swing and rise throughout European session to plunge once more towards close of European session to go up during US session on top of high.

USD/JPY
The near the beginning cross moved drop to 94.55 suggest intra-day low is completed, 95.19/22 should upside and yield one more drop but underneath said upward trend needed to make bigger flaw to 94.28/30 before rebound due to defeat of momentum.

164

[B]EUR/USD[/B] has seen selling in the early Tokyo session although the uptrend remains very much intact.

The pair remains in a uptrend with support at 1.3900. A break below 1.3990 would indicate a move to this level, but false breakout are common in early trading.

Two rising trend lines also provide support. One currently rests at 1.3900, and the other at 1.3800. The 1.3800 corresponds to an old resistance level on the hourly chart which now will act as support.

A move above 1.4050 would trigger an initial move to test 1.4100, and beyond that the December 30 high just above 1.4200.

[B]USD/JPY Testing Short Term Trend Lines[/B]

The USD has once again seen selling in the early Monday sessions. After a late surge on Friday which broke through a short term hourly trend line, the selling is expected to resume as the longer term downtrend is still intact.

A rise above 95.00 would indicate a short term reversal and a test of the 96.00 and 96.50 levels.

A move below 94.30 is expected, and if prices hold below this level a test of the recent swing lows at 93.80 is likely. The profit target for a break below 93.80 is 92.70.

Analysis by: ForexPros - Written by Cory Mitchell
Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.

165

EUR-USD

With thin trading yesterday behind us, the lows of the range established during that time have been tested and exceeded on the downside. Price has since moved back up into the trading range between 1.4050 and 1.3955. Low of the range is now 1.3945 after the false breakout.

A break back below the low of 1.3945 would indicate a profit target of 1.3850. A move to this level would break the upward hourly trend line which started on May 18. A move beyond 1.3850 would signal a fuller correction and target 1.3750.

If the rate holds above 1.3900 and ultimately break above 1.4050 another upswing will target 1.4150. The December 30 highs of 1.4200 will provide resistance beyond. Moving past this level is unlikely today with the average daily range hovering around 150 pips. There is little resistance above 1.4200 if rates seek out the volatile highs of December 08.

USD-JPY

Through quiet trading yesterday the pair respected a prior swing high of 95.25. A drop below 94.60 would indicate another swing down, but confirmation would be a break of the 94.40 level. The break provides a profit target of 93.85, this corresponds to swing lows of May 22. The 93.50 level is significant and likely to provide further support. Beyond this the profit target is 92.50.

A break above resistance at 95.25 would indicate an initial target of 95.85-96.00 and beyond that 96.60.

Analysis by: Forexpros - Written by Cory Mitchell
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166

[B]EUR/USD[/B]

The pair has pushed below former lows at 1.3950. The daily low is 1.3933 and a break below this would signal a move to 1.3900. Short term trend line support is also just above this level currently. Failure to hold would provide a target of recent swing lows at 1.3850.

A push through 1.4000 targets 1.4050. Beyond 1.4130 and 1.4200, if rates continue to push higher.

Daily trend is still up.

[B]USD/JPY Early Break[/B]

In early trading Tokyo trading the pair broke above a range which had been in place for nearly two days. This break puts initial targets 95.80. Minor resistance if every 20 pips higher till the 96.60 level.

A break back below 95.00 would indicate a false breakout and a test of the lows at 94.60. If rates move below this the next profit target is 94.00

[B]Analysis by: Forexpros - Written by Cory Mitchell[/B]
Disclaimer: Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.

167

[B]EUR/USD Breaks Recent Lows[/B]

The pair fell through the May 26 swing lows. This is not too significant at this point, but when London opens, failure to test and hold above this 1.3870 level would set a short term negative tone.

A break below 1.3800 put initial targets at 1.3750 and if broken, 1.3650.

If pair does move back above 1.3870, the 1.3900 area should provide some resistance and beyond that 1.4000 1.4050.

Watch for economic news out of the US starting at 1200 GMT.

[B]USD/JPY Early Surge[/B]

The pair surged early gaining over a 100 pips. Expect resistance at 96.60-96.80. A move above this area would target 97.15 and beyond 97.65.

If prices retreat, a support area should be found between 95.80-95.60. Beyond, 95.20 and 94.90, although these level are unlikely.

Analysis by: Forexpros - Written by Cory Mitchell
Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.

168

[B]EURUSD Continues Uptrend[/B]

The EUR/USD has started higher once again after bouncing off of the 1.4100 level. Resistance is currently at 1.4160. A break above this level would signal a move to 1.4220-1.4240. Beyond this there is little resistance till 1.4350.

With the daily average range sitting just below 150 pips the pair is not likely to move beyond 1.4300 unless there is a significant surprise in economic news due out of the US today.

A sustained move below 1.4100 will likely trigger stops down to the 1.4070 level and would target 1.4040 if rates continue lower. Beyond this 1.4400 should slow further falls.

The trend is up and a rise is more likely than a decline.

[B]USD/JPY Sideways Swings[/B]

The USD is rising after finding support from the 94.40-94.60 range. On longer term charts the pair is moving sideways within a range. A break of that range is unlikely today, but would be confirmed by a close below 93.55. Until that occurs the market may see similar swings to what we have seen over the last couple weeks.

A move above 95.50 would target 96.30 and beyond 96.60-96.70.

A break past the recent low of 94.65 would test 94.30 and beyond that the support area at 93.80.

[B]Analysis by: Forexpros - Written by Cory Mitchell[/B]
Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.