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Index Recommended Levels

August 28th, 2008 by

Dow Jones : Resistance(daily close) : 11 520.30, 11 749.22 , 11 970.00, 12 152.82, 12 600.24, 12 982.20, 13 162.50 and 13 320.00. Then 13 567.60, 13 668.74 и 13 792.53. Break of the latter will lead to 13 972.50, 14 045.62, 14 124.38 and 14 225.63 ( published on July 14 , 2008). Support (daily close): 11 036.25 , 10 980.00, 10 930.78, 10 800.00 and 10 718.45. Then 10 535.60, 10 428.80, 10 313.44, 10 125.00 and 10 046.30. Break of the latter will lead to 9990.00, 9911.25, 9722.70,

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Hawkish ECB Talk Helps Euro

August 28th, 2008 by

Hawkish ECB Talk Helps Euro The dollar traded mixed Wednesday after US durable-goods orders unexpectedly advanced in July and oil prices rose for a third day as Tropical Storm Gustav is moving toward production platforms in the Gulf of Mexico. The yen was little changed despite higher US stock prices. The euro rose on hawkish ECB comments. Sterling continued its decline following yesterday’s important break of support at the 1.85-handle. The Canadian and Australian dollars were little changed.

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EURUSD: EUR’s LT Rising Trendline Provides Support, Downside Weakness Remains

August 28th, 2008 by

EURUSD : While the resumption of EUR’s decline off the 1.6037 high was seen Tuesday pushing it to a new six-month low of 1.4570 and testing its LT trendline at 1.4580, intra day recovery off the latter saw the pair close at 1.4646.Broader bias remains to the downside but as long as the said LT trendline continues to provide support, consolidation to corrective recovery could occur nearer term. Supports are located at its August 19’08 low at 1.4630 and its LT trendline/range breakout point at

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Waiting for Greenback’s Next Pull-Up

August 28th, 2008 by

The European morning saw the dollar still on its moderate down correction path. We estimate present levels to hold for awhile in today’s trading, and expect a another upmove for the U.S. currency to materialize. Provided, of course, that naughty Gustav, the tropical storm heading for the Gulf today, does not develop into an outright hurricane, threatening the oil infrastructure there. Note today’s U.S. data release for durable goods orders for July 2008, usually a market-mover. It might well be

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USD Bulls not Satisfied Post FOMC Minutes

August 28th, 2008 by

Despite a run for new 2008 highs in the USD-index, the FOMC minutes did not justify further gains in the USD. MAJOR HEADLINES – PREVIOUS SESSION GE GDP figures generally somewhat lower than expected. SW PPI MoM/YoY (Jul) out at 0.7%/3.3% vs. 0.5%/3.1% expected. GE IFO Business Climate (Aug) out at 94.8 vs. 97.2 expected. GE IFO Curr. Assessment (Aug) out at 103.2 vs. 104.4 expected. GE IFO Expectations (Aug) out at 87.0 vs. 90.5 expected. SZ UBS Consumption Indicator (Jul) out at 1.848 vs.

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USD/CAD - What’s Next?

August 28th, 2008 by

The Loonie has hit both of our targets from the prior week. Where is this pair headed next? 1.0445 is the key level to keep an eye on. A drop below, followed by a successful re-test as resistance, may bring further targets at 1.0358 and 1.0272 into view. More likely, price will range between 1.0445 and 1.0553 a while, at least until we get some key inflationary data out of Canada on Friday. A break above 1.0553, followed by a re-test as support, may mean we’re on our way to test the

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To Hike or Not to Hike

August 28th, 2008 by

Today’s comment Majors & Scandies By the Majors & Scandis Team The dollar rallied in the European trading session as the German IFO survey was unexpectedly soft. EURUSD fell almost a full figure on the back of the IFO release. Our first reaction was that such a move was not justified by the IFO release alone, but it does inevitable say something about the market sentiment and something about in which direction the arrow is pointing at the moment. This made us initiate a short strategy

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Index Recommended Levels

August 28th, 2008 by

Dow Jones : Resistance(daily close) : 11 520.30, 11 749.22 , 11 970.00, 12 152.82, 12 600.24, 12 982.20, 13 162.50 and 13 320.00. Then 13 567.60, 13 668.74 и 13 792.53. Break of the latter will lead to 13 972.50, 14 045.62, 14 124.38 and 14 225.63 ( published on July 14 , 2008). Support (daily close): 11 036.25 , 10 980.00, 10 930.78, 10 800.00 and 10 718.45. Then 10 535.60, 10 428.80, 10 313.44, 10 125.00 and 10 046.30. Break of the latter will lead to 9990.00, 9911.25, 9722.70,

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EUR/USD Likely Testing Long-term Uptrend

August 28th, 2008 by

EUR/USD Likely Testing Long-term Uptrend The dollar rose against its rivals Tuesday following better-than-expected US housing data as well as minutes from the latest FOMC meeting indicating Fed policy makers were done cutting interest rates but the timing of any rate increase was data dependent. The euro fell as Germany’s GDP contracted in the second quarter and business expectations plunged. The yen declined on increased risk appetite following renewed financialmarket confidence. The Canadian

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EURUSD: Weakness Sees EUR Attacking Its LT Rising Trendline

August 28th, 2008 by

EURUSD : A follow–through on Friday and Monday’s weakness saw EUR attacking its LT trendline established since Feb’2006 today.Convincingly invalidating that level will leave the pair vulnerable to the downside towards its range breakout point at 1.4565.If the pair maintains its present weakness and closes lower today, resumption of its medium term decline is expected towards the 1.4364 level, its Jan 22’08 low and a distant support resting at the 1.4014 level, its Oct’07 low. The daily RSI

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Index Recommended Levels

Hawkish ECB Talk Helps Euro

EURUSD: EUR’s LT Rising Trendline Provides Support, Downside Weakness Remains

Waiting for Greenback’s Next Pull-Up

USD Bulls not Satisfied Post FOMC Minutes

USD/CAD - What’s Next?

To Hike or Not to Hike

Index Recommended Levels

EUR/USD Likely Testing Long-term Uptrend

EURUSD: Weakness Sees EUR Attacking Its LT Rising Trendline

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