GBP/USD Key Support at 1.5030
March 12, 2010 by Juan P. Bejarano · Leave a Comment
The Pound found strong demand at the aforementioned 1.4873 level and has extended a rally towards the previous high just under 1.5200.
Near term bias is slightly turned to the upside as a correction in the pair seems imminent. Medium to longer term continues to be set to the downside on deficit and political concern.
In the [...]
NZD/USD Recovers Above 0.7000
March 12, 2010 by Juan P. Bejarano · Leave a Comment
The New Zealand Dollar recovered some the gains lost post-RBNZ rate decision as risk appetite spurred demand for riskier assets.
All eyes will now turn to the U.S. retail sales figures expected to come in on the weak side. Data should help shape the pairs next move.
Trend:
Weekly : Sideways
Daily: Sideways
Hourly: Sideways
Support & Resistance:
From current levels, [...]
AUD/USD Testing Key 0.9193
March 12, 2010 by Forex District · Leave a Comment
The Aussie had a volatile day yesterday as the morning began with risk aversion but ended on a positive note. Stocks in U.S. managed to close higher, driving the S&P 500 to its highest level since October 2008.
A stronger-than-expected Chinese inflation number yesterday fueled concern that China may increase interest rates to cool its economy. [...]
EUR/USD Key Resistance Level at 1.3884
March 12, 2010 by Juan P. Bejarano · Leave a Comment
The Euro finally broke higher and above the 1.3700 handle as a rise in stocks spurred demand for riskier assets. The S&P500 reached its highest level since October 2008 adding bets a second leg higher may be forthcoming.
Industrial production data out of the euroZone today was also supportive of the pair as it rose by [...]
Daily Forecast for Majors
March 11, 2010 by FX Instructor · Leave a Comment
EURUSD Forecast:
The EURUSD had a narrow movement of only 66 pips yesterday and we do not see significant technical move yet so far. The bias remains neutral both in nearest and medium term while the long term outlook remains bearish. The bullish correction scenario testing 1.3750 area remains intact. Price has been moving in a [...]
Daily Forecast for Crosses
March 11, 2010 by FX Instructor · Leave a Comment
EURJPY Forecast
The EURJPY attempted to push lower yesterday, bottomed at 123.01 but closed higher at 123.79. On the h4 chart below we have a significant technical movement as the trendline resistance has been violated to the upside indicating a serious threat to the bearish scenario after bullish reversal warning showed by the double bottom formation. [...]
AUD/USD First Target Met at 0.9145(+20)
March 11, 2010 by Juan P. Bejarano · 3 Comments
AUD/USD rose to an intraday high at 0.9168, to reach our short entry point at 0.9165. First target was met for +20 points (0.9045). Move stops to break even or leave room to breath. Next target 0.9077.
View Original analysis Here.
DISCLAMER: The above post is for information only. Before making your investment decisions please acknowledge that [...]
EUR/USD: U.S. Retail Sales to Guide the Pair (1.3660)
March 11, 2010 by Juan P. Bejarano · Leave a Comment
The pair continues to trade within a consolidation range as developments in the EuroZone continue to linger.
Concerns over Greece have eased, helping the Euro hold ground. Focus will now be on the proposed IMF-style institution, economic data from the US and the EuroZone, and performance in stocks.
The ECB is still expected to leave rates unchanged [...]
