USDJPY Daily Forecast: November 06
November 5, 2009 by FX Instructor · Leave a Comment
USDJPY Forecast: The USDJPY attempted to push lower yesterday, bottomed at 89.98 but whipsawed to the upside and closed higher at 90.74. This fact indicating that potential upside pressure is still alive and kicking with the lower line of the bullish channel remains potential resistance area to be tested. On the downside, I have a [...]
USDCHF Daily Forecast: November 06
November 5, 2009 by FX Instructor · Leave a Comment
USDCHF Forecast Similar to EURUSD and GBPUSD, the USDCHF was indecisive yesterday. On my h4 chart below we can see that the pair still struggling around the lower line of the range area at 1.0166. I think we are in no trading zone now. Technically I still prefer a bearish scenario after false breakout on [...]
EUR/USD Climbs up
November 5, 2009 by FX Instructor · Leave a Comment
Simultaneous Release at www.thegeekknows.com Follow me on twitter Good day to all. The EUR/USD did move up a bit. As we get closer towards the NON FARM PAYROLL MAMBO JUMBO, i will be looking towards booking profits for my short term trades. The currency pair climbs up and tests 1.4910+. Having done so, it retreats [...]
What is the direction of highest probability today? (05/11/09)
November 5, 2009 by FX Instructor · 4 Comments
Markets are focusing on the asset purchase program, rather than interest rates, with the market split over a $25b expansion, $50b, or no expansion.
GBPUSD Daily Forecast: November 05
November 5, 2009 by FX Instructor · Leave a Comment
GBPUSD Forecast: The Sterling was also benefit from Dollar bearish after FOMC yesterday, topped at 1.6596 and closed at 1.6555. Technically on h4 chart below we can see that my triangle has been violated to the upside indicating potential further bullish scenario at least towards 1.6700 area before re-testing 1.7042. Immediate support at 1.6520/00 area. [...]
Daily Forecast for Crosses: November 05
November 5, 2009 by FX Instructor · Leave a Comment
EURJPY Forecast The EURJPY was technically a mess yesterday. Like I said, with important economic data and events this week, technical failure is not a big surprise and I think it’s not the best time to trade now. On h4 chart below we can see that once again, price break above the trendline but we [...]
EURUSD Forecast: Euro fight back after FOMC. Technically, false breakdown might lead to further bullish
November 5, 2009 by FX Instructor · Leave a Comment
The EURUSD failed to continue it’s bearish momentum yesterday, even the Fed statement was flat, nothing significant. The way I see it, market opinion was that the economy recovery is still in the right track. The Fed also said that it will keep the rates near zero for “an extended period” which make the Dollar [...]
USDJPY Daily Forecast: November 05
November 5, 2009 by FX Instructor · Leave a Comment
USDJPY Forecast: The USDJPY had a bullish momentum yesterday, topped at 91.31 but closed lower at 90.84. On h4 chart below we can see that my minor trendline support (former resistance, yellow) did a good job preventing bearish attack. This fact threat my bearish outlook for sure and the lower line of the bullish channel [...]
