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Index Recommended Levels

February 8th, 2010 by

Dow Jones : Resistance(daily close) : 9382.12, 9744.26, 10 091.30, 10 935.23 , 11 164.57, 344.92 and 11 520.30. Then 11 749.22, 11 970.00, 12 152.82, 12 600.24, 12 982.20, 13 162.50 and 13 320.00. Break of the latter will lead to 13 567.60, 13 668.74 and 13 792.53 (published on October 21, 2008). Support (daily close): 9630.33 and 9358.35(main), 9090.00, 8912.62 (published on November 10, 2009) . Today’s support: - 9940.36, 9900.00, 9854.30 and 9821.30(main), where a

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FX Strategy Briefing: Sterling on Thin Ice

February 8th, 2010 by

FX Strategy Briefing: Sterling on Thin Ice The dollar fell in early Monday trading but later pared losses on a WSJ report that Federal Reserve Chairman Ben Bernanke will begin laying the groundwork for credit tightening later in the year. There was no important US economic release today to influence the trade. Treasury Secretary Timothy Geithner predicted a slow economic recovery; however, not seeing a double-dip recession. Former Fed Chairman Alan Greenspan also foresaw a slow recovery while

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Weekly Market Research

February 8th, 2010 by

EURUSD - Only the Bottom of the Kumo As stated last week; The pair fell as expected to 1.3850 just 75pips above the weekly Kumo. Although we feel the pair needs to correct a little bit, we ultimately feel any rallies are just opportunities to sell the pair higher. Just as we wrote, the pair rallied to the big figure of 1.4000 and then dropped 350pips closed in the mid 1.36’s. Posting its 4th weekly decline in a row, the pair only has the bottom of the Kumo to take out before a

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USD/JPY: Either way is probable

February 8th, 2010 by

The pair has been steady during the last sessions and moving inside a range between 89.15 and 89.60. The rupture of the lateral channel could trigger a rally in the direction of the break; but the pair usually does some false moves ahead of the opening in Asia, so it is better to wait for clear signals. To the downside, below 89.15 the pair could go to the zone between 88.90 and 89.00. To see further declines, is necessary for the pair to break below 88.85; which should trigger a bigger decline

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EUR/GBP: Testing higher

February 8th, 2010 by

Event ought several indicators in hourly charts are suggesting a further decline, the pair has tested a key resistance at 0.8800 and is pulling back from there. The 20 SMA in four hour charts is working as a support; if it holds (currently at 0.8730) pair will remain with a bullish bias for the rest of the day. A rebound around 0.8740 could send the pair back initially to 0.8770 and if is rises further to test 0.8800 again. A break above could trigger a rally to the 0.8850 zone. The next

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JPY, USD: Safe Haven Bidding Continues

February 8th, 2010 by

The G7’s finance ministers’ remarks at this weekend’s meeting, trying to calm down rising fear in euro bond markets, were not enough to curb the moneyflow into the yen and the dollar seeking safe havens from the present storm over the Eurozone. Stemming the tide is futile, this first real test of the Eurozone has widespread and lasting consequences. Today, Asian trading has seen just weak attempts for a short-term recovery of the battered euro. We only see a slowing down of the upcurve in the

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AUDUSD wide trading range continues

February 8th, 2010 by

AUDUSD - Wide trading range continues between support and resistance levels. Negative trend stays active while candles remain below resistance barrier. EURUSD - Despite the recent jump towards resistance, bears are controlling the situation. For now look for selling options. EURGBP - Bears did manage to break resistance barrier, however buying options should be done with a care. NZDUSD - Boring situation is extended, erratic jumps up and down. Waiting action is better option for now.

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US jobs data on Friday has something for everyone

February 8th, 2010 by

G7 has no official comment on currencies; Asia holds steady MAJOR HEADLINES – PREVIOUS SESSION CA Jan. Unemployment Rate out at 8.3% vs. 8.5% expected and revised 8.4% prior US Jan. Change on Non-farm Payrolls out at -20k vs. +15k expected and revised -150k prior US Dec. Consumer Credit out at -$1.7b vs. –S10b expected and revised -$21.8b prior NZ Jan. QV House Prices out at +4.4% vs. +2.8% prior JP Dec. C/a Balance out at ¥900.8b vs. ¥1011.7b expected and ¥1103b

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EURUSD: On The Tear For The 13422 Level

February 8th, 2010 by

In This Issue: EURUSD: On The Tear For The 13422 Level - With a clean violation of its July 08’09 low at 1.3831 and the 1.3747/33 levels, its Jun 16’09 low/.50 retracement(1.2328-1.5143 rally) established,…. GBPUSD: Sideways Range Break Out Highlights Prospect For The 1.5276 Level - Having finally pushed through its Oct 13’09 low/range lows at 1.5706 the past week, we are now looking for further downside weakness towards its major support at the 1.5276 level, its .50 Fib Ret(1.3501-1.7041

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EUR/USD

February 8th, 2010 by

EUR/USD Eur/Usd came lower and just held the 1.3880 support. Now there has been a correction from these lows, but the market has returned to lower levels and looks poised to come down for 1.3580 once more early in our session. Sellers will be waiting for a break of this support to drive the market lower.. 1.3520/10 would be the short term objective. Here sellers will be looking to cover.. Buyers are not really going to appear unless we dip to the long term 61.8 fib level of 1.3485. Then