Daily Forecast for Majors

EURUSD Forecast: The EURUSD attempted to push higher yesterday, topped at 1.3817 but closed lower at 1.3734 and keeps moving lower around 1.3720 at the time of writing. While technical bullish view remains intact as price still moves inside the bullish channel after it formed a triple bottom formation, Euro bullishness is limited by hesitation [...]

Daily Forecast for Crosses

EURJPY Forecast The EURJPY attempted to push higher yesterday, topped at 125.06 but closed lower at 124.04 and is now testing the lower line of the bullish channel indicating critical technical phase. After the pair had  a bullish run since it formed the double bottom around 119.70, the bullish momentum is now facing a double [...]

Dollar Set To Weaken As The S&P Gains

There are a number of fundamentals which indicate to me that the dollar is set to depreciate in a trend, at least over the next few months. Also, the S&P is making a crucial technical test which indicates that the rally which began with Bernanke’s admission of electronic printing is still intact. The most obvious [...]

Daily Forecast for Majors

EURUSD Forecast: The EURUSD had a bullish momentum yesterday, topped at 1.3782 and closed at 1.3771. This fact should keep the bullish scenario targeting 1.3850 intact. The technical evidence that price is in a potential bullish momentum after reversal it touched the triple bottom formation seems stronger now especially if price is able to break [...]

Daily Forecast for Crosses

EURJPY Forecast The EURJPY had a moderate bullish momentum yesterday. This fact should keep the bullish scenario intact as price still convincingly moves inside the bullish channel re-testing 125.15 area. Break above that area should trigger further bullish momentum testing 126.90 area. Immediate support at 123.70 followed by 123.00. Break below 123.00 could be a [...]

Q1 2010 GDP-Less Will Mean More

GDP in the first quarter of 2010 will be lower than last quarter, but that’s a good thing according to an article written by Kathleen Madigan in The Wall Street Journal. The expected number is between 2% and 2.5% vs. the 5.7% recently seen. Q4 2009 GDP was driven to a large degree by an [...]

Daily Forecast for Crosses

EURJPY Forecast The EURJPY failed to continue its bullish momentum yesterday, bottomed at 123.32 and closed at 123.72. The bias is bearish in the nearest term but the bullish scenario should remain intact as long as price still move inside the bullish channel. A violation to the bearish channel and a break below 123.00 area [...]

Daily Forecast for Majors

EURUSD Forecast: The EURUSD had a significant technical movement on Friday by breaking above the major bearish channel. This confirms the bullish reversal scenario after it made a triple bottom formation around 1.3450/35 area. While the technical outlook is bullish in the nearest term targeting 1.3850 before an aim for 1.4025/50 region. On the fundamental [...]

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