# Forex Daily Analysis



## ForexAnalysis (24 June 2008)

*Daily **Forex Trading Analysis*

*Today’s US Dollar Trading*
• USD holds gains but flows light
• S/R holds as expected
• Speculation that the Fed will not move rates capping the USD

*Overnight Preview*
• Consolidation likely
• Two-way action with a downside bias

*Looking Ahead to Tuesday*
*All times EASTERN (-5 GMT)*
• 9:00am USD National HPI Composite-20
• 10:00am USD Consumer Confidence
• 10:00am USD House Price Index m/m
• 10:00am USD Richmond Fed Index

*Summary*
The USD is firmer but falling off the highs for the day as the volumes are drying up into the New York close. Traders note that across the board the USD remained inside established ranges to start the week and due to the two-way nature of today’s action most traders expect more consolidation. Volumes got really light after the London fix most desks say and it is likely that traders don’t want to force positions ahead of the two-day FOMC meeting which starts tomorrow. Analysts are almost unanimous that the Fed will not move rates on Wednesday but are divided as to the significance of the statement. Most are expecting Bernanke to “talk tough” but no one expects the Fed to do anything for the next two or three FOMC meetings. In response to poor European news overnight the EURO and GBP both fell back to near-term support but rallied off those lows after the London fix this morning and are now at their highs for the New York session into the close. EURO has regained the 1.5520 area after dropping into the 1.5460/70 area on light volume this morning. Forex traders expect EURO to remain two-way through the week with technical trading likely; most analysts say the rate is “fairly” pricing in a 25 BP hike by the ECB on Jul 3rd. In my view, the FOMC is the key to the trade this week as no move at all will work favorably for the EURO. USD/JPY continued to hold gains but was unable to attract any serious buying at the high prints of 108.07; stops rumored to be above the 108.10 area are out of range today. Traders expect the rate to weaken near-term as the technical picture favors at least a test of the 107.00 handle this week. In my view, the rate is due for a sharp sell-off as all these longs must be getting nervous now that the rate has failed at the quarterly highs several times. Look for the USD/JPY to rotate lower overnight and test the south end of the range the next 24 hours. Swissy is also failing at key resistance, the 1.0480 area. Offers from late longs appear to be active as no stops were reported above the 1.0410/20 area only active buying. Now that those longs are under threat expect a pullback into the 1.03 handle soon. Should be a quiet night ahead of US data tomorrow; don’t expect any surprises.


*USD/JPY Daily*

Resistance 3:  108.80
Resistance 2:  108.50
Resistance 1:  108.00/10
Latest New York:  107.81
Support 1:  107.20/30
Support 2:  107.00
Support 3:  106.80

*Comments*
Rate grinding sideways to higher overnight; volumes lighter and upside resistance is firm at 108.00 area. Failure to close above the 108.00 handle Monday a good sign rate is ready to break back to the lows looking for stops under the 107.10/107.00 area. Exponential reversal signal still valid, rate is two-way but weaker each day. If short—let it work. If today’s rally fails under the 108.00 handle look for a drop into stops under the 107.00/10 area the next 24 hours. Look to add if rate can hit the stops in the 107.00 area near-term. Some topping seen; expect volatility. Bids appear solid but so do offers; exporters likely on the offer all the way to the highs overnight and active the past several days. USD likely not this strong but more benefiting from Yen weakness. Stops likely rolled up under the 107.00 area for today so if a break happens—look for a drop to the 106.00 handle fairly quickly.

Data due Tuesday: All times EASTERN (-5 GMT)

7:50pm JPY Trade Balance
7:50pm JPY CSPI


*USD/CHF Daily*

Resistance 3:  1.0520
Resistance 2:  1.0480
Resistance 1:  1.0450/60
Latest New York:  1.0457
Support 1:  1.0320/30
Support 2:  1.0300
Support 3:  1.0270/80

*Comments*
Rate rallies back to resistance, fails at 1.0480 area as expected. Rate stuck in a range but still looking to support/resistance hovering around the 100 bar MA. Overhead resistance now at the 1.0480 area. Rate continues to rotate up to and fail at the 100 bar MA area; a sell off to end the day today would be ideal to set-up for further losses during the week. Buyers appear to be technical traders and expect some momentum accounts on the bid soon. No doubt some bids are profit-taking from the shorts but that won’t last in my view. In my view, the rate needs to be sold on any strength. Hourly sell signals also suggest that the rate is ready to rotate lower again. Look for two-way action overnight into Tuesday.

Data due Tuesday: All times EASTERN (-5 GMT)

4:00am CHF Consumption Indicator


Analysis Provided by: Forexpros.com written by Jason Alan Jankovsky.


*DISCLAIMER:*
_Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. _


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## tayser (25 June 2008)

*Re: Forexpros.com Daily Analysis - 24/06/2008*

Do you cover any AUD in your analysis..... at all?


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## ForexAnalysis (26 June 2008)

*Forexpros.com Daily Analysis - 25/06/2008*

*Read the Daily Forex Trading Analysis*

*Today’s US Dollar Trading*
• USD two-way all day
• Starts on the offensive—ends on the defensive
• GBP and EURO at technical resistance.

*Overnight Preview*
• Look for a quiet evening ahead of FOMC

*Looking Ahead*
*All times EASTERN (-5 GMT)*
• 8:30am USD Core Durable Goods Orders m/m
• 8:30am USD Durable Goods Orders m/m
• 10:00am USD New Home Sales
• 10:30am USD Crude Oil Inventories
• 2:15pm USD FOMC Statement
• 2:15pm USD Federal Funds Rate

*Summary*
Despite a better start overnight the USD was unable to hold significant gains today after the release of disappointing US data gave traders a reason to sell the Greenback. Although the early volatility was important enough to make new highs or lows on the day for the USD it wasn’t enough to put most pairs into new ranges; Forex traders note that volumes were moderate and both sides seemed to find a reason to take a stand. Trading has been muted the past 24 hours with most desks reporting that concern over the FOMC rate announcement due out tomorrow is keeping larger players quiet; although larger names have been seen at the highs or lows today. Cable initially firmed following EURO but took at hit when the UK mortgage numbers overnight were less than inspiring. Falling to a low print at 1.9622 in early New York the GBP reversed course and rallied to a high print at 1.9726 before offers capped the move today. US data lifted both the GBP and the EURO but neither pair could hold gains as both pairs were at technical resistance during the day. EURO stalled just above the 50 bar MA for a high print at 1.5623 before falling back and leaving a long selling wick on the day. I suggested earlier in the day to liquidate your long EURO position and if you are holding longs still be ready to exit those positions overnight. I don’ think the EURO has what it takes to hold above the 50 bar MA near-term. USD/JPY broke down to post a daily low at 107.36 before rallying all the way back to the 108.00 handle; then dropping mid-range on the close. At no time did the rate ever make the impression it intended to break out to a new high or a new low. Traders note that the rate is simply stuck in an existing range and may be there through the FOMC announcement tomorrow. Swissy also broke to new lows at the 1.0348 number before bouncing off the 50 bar and 100 bar MA’s on the daily chart. In my view, the USD/CHF is firming a bit too much to be short. I would look to take the trade off the next 24 hours if the rate continues to gain above the 1.0400 handle near-term; such as overnight. In my opinion, the USD will cover a lot of the same ground tonight and into the FOMC meeting tomorrow. Look for a rally as a selling opportunity. 


*EUR/USD Daily*

Resistance 3:  1.5680
Resistance 2:  1.5650/60
Resistance 1:  1.5620
Latest New York:  1.5567
Support 1:  1.5500/1.5490
Support 2:  1.5470
Support 3:  1.5450

*Comments*
Rate unable to hold gains after surprise rally into the 1.5620 area; long selling wick companion to the bid wick from Monday. Rate likely stuck in tighter range for now. Russians buying EURO a good sign but watch for model accounts on the bid the next few days. The 50 bar MA offering resistance; close over the 50 bar likely to draw more buying early in the week but for now there is pressure coming on in that area. Bids will likely be in the 1.5500/20 area or so. Expect higher action this week as late shorts get squeezed. If long, better to get flat or reverse.  

Data due Wednesday: All times EASTERN (-5 GMT)

4:00am EUR ECB President Trichet Speaks
4:00am EUR Italian Retail Sales m/m


*USD/JPY Daily*

Resistance 3:  108.80
Resistance 2:  108.50
Resistance 1:  108.20
Latest New York:  107.76
Support 1:  107.20/30
Support 2:  107.00
Support 3:  106.80

*Comments*
Rate whipsaws around current S/R; unable to gain traction above or below recent boundaries.  Volumes lighter and upside resistance is firm at 108.00 area or a shade higher. Failure to close above the 108.00 handle Monday a good sign rate is ready to break back to the lows looking for stops under the 107.10/107.00 area. Exponential reversal signal still valid, rate is two-way but weaker each day. If short—let it work. If today’s rally fails under the 108.00 handle look for a drop into stops under the 107.00/10 area the next 24 hours. Look to add if rate can hit the stops in the 107.00 area near-term. Some topping seen; expect volatility. USD likely not this strong but more benefiting from Yen weakness. Stops likely rolled up under the 107.00 area for today so if a break happens—look for a drop to the 106.00 handle fairly quickly.

Data due Wednesday: All times EASTERN (-5 GMT)


Analysis Provided by: Forexpros.com written by Jason Alan Jankovsky.

*DISCLAIMER:*
_Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. _


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## ForexAnalysis (26 June 2008)

*Forexpros.com Daily Analysis - 26/06/2008*

*Daily Forex Trading Analysis*

*Today’s US Dollar Trading*
• USD whipsaws after early sideways start
• US data unfriendly to the Greenback
• As expected, FOMC holds rates firm

*Overnight Preview*
• USD likely to continue to weaken
• EURO above resistance

*Looking Ahead*
*All times EASTERN (-5 GMT)*
• 8:30am USD Final GDP q/q
• 8:30am USD Unemployment Claims
• 8:30am USD Final GDP Price Index q/q
• 10:00am USD Existing Home Sales
• 10:35am USD Natural Gas Storage

*Summary*
As expected the FOMC held interest rates steady and left the discount window on hold too. The statement was full of the usual “Strong Dollar” rhetoric but after the initial brief USD rally into expected S/R the Greenback reversed hard and fell to new lows on the day across the board. Stops were seen in all pairs but active selling of USD was noted by several shops as the USD made highs around the FOMC announcement.  Forex traders were not surprised at the strength of the reversal or the speed and many expressed concern that the USD will get ahead of itself on a decline before the ECB has a chance to raise rates next week. GBP rallied for a high print at 1.9771 after the announcement; traders note that stops were elected at 1.9740/50 area after the first push to there was repelled during the day. In other words, shorts sold ahead of the news and placed their stops close-in expecting a drop which never happened. EURO plowed through near-term resistance and is no officially rallying; stops placed around the 1.5630 area were triggered as layered supply above the 1.5600 area was absorbed after the news. EURO now has no top ahead of the 1.5800/20 area some traders say and a sustained rally may be in the works for tomorrow and Friday. Should the EURO clear the 1.5800 area or beyond by the end of the week that would make this month an engulfing month on the charts””a very bullish scenario. USD/JPY failed to inspire trade either way for most of the day preferring to hover at the 108.00 handle until the Fed news; a brief rally to 108.43 high print was sold aggressively and the rate reversed into low prints at 107.65 within minutes. The rate is unable to break out of the 108.40-107.00 range that has plagued this pair for over a week. When it finally goes one way or the other it could be a spectacular move. USD/CHF also reversed hard making lows on the day at 1.0340; traders expect more. Almost lost in the day’s action was earlier US data, Durables were flat and housing was lower; traders expect that more unfriendly news will be seen for tomorrow as well. In my view, nothing to do but buy dips in EURO and add to open shorts in other pairs.


*EUR/USD Daily*

Resistance 3:  1.5800
Resistance 2:  1.5750/60
Resistance 1:  1.5720
Latest New York:  1.5674
Support 1:  1.5550/60
Support 2:  1.5500
Support 3:  1.5450

*Comments*
Rate blasts through resistance and makes highs for the week. Better EMU news helps keep the rate firm. US news likely to create volatility. Russians buying EURO again overnight a good sign but watch for model accounts on the bid the next few days. The 50 bar MA offering resistance; close over the 50 bar likely to draw more buying tomorrow. Bids will likely be in the 1.5580 area or so on any meaningful correction. Expect higher action this week as late shorts get squeezed.  

Data due Thursday: All times EASTERN (-5 GMT)

2:00am EUR German Import Price Index m/m
4:00am EUR M3 Money Supply y/y


*USD/CHF Daily*

Resistance 3:  1.0520
Resistance 2:  1.0500
Resistance 1:  1.0470/80
Latest New York:  1.0350
Support 1:  1.0320/30
Support 2:  1.0300
Support 3:  1.0270/80

*Comments*
Tight range and low volumes overnight; rate likely to whipsaw today so be ready for volatility. Looking to add to position if rate can clear under the 1.0300/10 area. Rate stuck in a range but still looking to support/resistance hovering around the 100 bar MA. Overhead resistance now at the 1.0480 area. Rate continues to rotate around the 100 bar MA area; a sell off to end the day today would be ideal to set-up for further losses during the week. Buyers appear to be technical traders and expect some momentum accounts on the bid soon. No doubt some bids are profit-taking from the shorts but that won’t last in my view. In my view, the rate needs to be sold on any strength. Hourly sell signals also suggest that the rate is ready to rotate lower again.

Data due Thursday: All times EASTERN (-5 GMT)


Analysis Provided by: Forexpros.com written by Jason Alan Jankovsky.

You can also visit our forex brokers section, compare brokers and more.

*DISCLAIMER:*
_Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. _


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## ForexAnalysis (28 June 2008)

*Forexpros.com Daily Analysis - 27/06/2008*

*Read the Daily Forex Trading Analysis*

*Today’s US Dollar Trading*
• USD gets hammered
• US data ignored in favor of rising Oil
• Equities pressure USD/JPY

*Overnight Preview*
• Look for continued weakness
• USD likely to fall overnight

*Looking Ahead to Friday*
*All times EASTERN (-5 GMT)*
• 8:30am USD Core PCE Price Index m/m
• 8:30am USD Personal Spending m/m
• 8:30am USD Personal Income m/m
• 9:55am USD Revised Michigan Sentiment

*Summary*
The Greenback got hammered today as panic hit the equities markets; Crude Oil passes the $140.00/BBL mark and makes a record close. In my view, this is exactly what the USD needs to reach back into new 2008 lows. If you notice, the USD has been over 5% weaker earlier in the year against Yen and CHF while it is stronger against EURO and GBP; I think it is time to remember that panic doesn’t pay. Look for the USD to drop significantly during the early part of the next quarter but let’s not lose focus; the USD will bottom and recover at some point and with equities this cheap you can bet SWF money will be all over the bid on choice stocks soon. That repatriation will make a firm bottom in the USD this year late in my view. On the day, Cable found a top at the 1.9890 area; high print at 1.9897 tracking EURO higher all day. EURO found stops above the 1.5700 area as expected but also found more above the 1.5750 area stalling at a high print of 1.5766 and remaining firm all day. Both EURO and GBP had willing bids all day and saw lots of dip buying; despite good selling by Asian sovereigns overnight. USD/JPY finally broke under the 107.00 handle finding stops in good size at the 106.90 area; low prints 106.60 making a new two-week low. Forex traders note that volumes were good and trade was orderly suggesting that there were quality bids on the break as well as quality offers. Traders expect further losses near-term to close out the quarter. USD/CHF is under the 1.0230 area for a low print at 1.0219 making a mess of the bull’s balance sheets; expect further losses to end the week. In my view, the USD has broken into expected lows and the big question is if the USD can continue to fall; I think that is a slam-dunk given the high price of Oil. Look for the USD to fall overnight on follow-on selling. No US data tomorrow of note so expect continued pressure during the day and for the USD to finish the week somewhat lower.


*EUR/USD Daily*

Resistance 3:  1.5820
Resistance 2:  1.5800
Resistance 1:  1.5780
Latest New York:  1.5761
Support 1:  1.5620
Support 2:  1.5580
Support 3:  1.5550

*Comments*
Rate powers higher on Oil, stops and general USD weakness. Stops above the 1.5700 handle; more stops over the 1.5750 and 1.5780 area but offers will likely cap any further strength near-term. Asian sovereign selling seen overnight. US news today likely to create volatility so be ready for whipsaw or a reversal. Should cable break—EURO could go with it. Watch for model accounts on the bid today or Friday. The 50 bar MA likely to offer support should the rate fall back; close over the 50 bar likely to draw more buying to end the week. Bids will likely be in the 1.5580 area or so on any meaningful correction. Expect higher action this week as late shorts get squeezed.  

Data due Friday: All times EASTERN (-5 GMT)

All Day EUR German Prelim CPI m/m
4:00am EUR Current Account
5:00am EUR Consumer Confidence
12:30pm EUR ECB President Trichet Speaks


*USD/JPY Daily*

Resistance 3:  109.00
Resistance 2:  108.80
Resistance 1:  108.50
Latest New York:  106.71
Support 1:  106.40
Support 2:  106.10/20
Support 3:  105.80

*Comments*
Rate finally breaks as expected, OK to add on the close for additional weakness. Exporters noted on the offer the past 24 hours and the rate breaks below 107.00 with authority. Failure to close above the 108.00 handle Monday a good sign rate is ready to break back to the lows looking for stops under the 107.10/107.00 area. Exponential reversal signal still valid, rate is two-way but weaker each day. If short—let it work. If today’s US data is weak, expect a pullback again to test support. Look to add if rate can hit the stops in the 107.00 area near-term. Some topping seen; expect volatility. USD likely not this strong but more benefiting from Yen weakness. Stops likely rolled up under the 107.00 area for today so if a break happens—look for a drop to the 106.00 handle fairly quickly.

Data due Friday: All times EASTERN (-5 GMT)


Analysis Provided by: Forexpros.com written by Jason Alan Jankovsky.

*DISCLAIMER:*
_Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time. _


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## forexpros (25 August 2009)

*Forexpros.com Daily Analysis - 25/08/2009*

*Forexpros Daily Analysis Aug 25, 2009*


*Euro Dollar*

Support is currently at a 1.4280 and a break below is expected to target 1.4200.   The target, and support, beyond is at 1.4170.

Short-term trend line resistance is at 1.4320.  A break above indicates a move to 1.4400 with interim resistance at 1.4340-1.4350 and 1.4375.

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*USD/JPY - Early Sell Off*


The pair is falling in early trading.  The general trend is still down.

Support is likely to come from former trend lines, one providing support in the 93.70 region and the other at 93.30 (these will move lower slightly  over the course of the day).  93.40 is also support.

94.25 is minor resistance on the upside, followed by 94.40, 94.60, 94.80 and 95.00.  Another trend line comes into play between 94.80 and 94.60 as well providing resistance.

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Forex trading analysis by Forexpros - Written by Cory Mitchell

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*Disclaimer*
_Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time._

__________________
_*Forexpros* - Bringing you live news, analysis advanced charts and quotes.
Check out our new and improved Technical Studies Section._


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## forexpros (26 August 2009)

*Forexpros.com Daily Analysis - 26/08/2009*

*Forexpros Daily Analysis Aug 26, 2009*

*EUR/USD - Range Bound*

The pair continues to trade within a range starting a few days ago.

Support is established at 1.4280 and 1.4250 (and just below).  Breaks below these levels indicate further selling.  Target for a break below 1.4250 is 1.4130 with support likely at 1.4200 and 1.4170 on the way.  Daily average range has dropped to about 100 pips, so that target may take a couple days to hit if such circumstances develop.

Minor resistance is at 1.4320 with a break above to target range highs in the 1.4360-1.4370 region.  1.4340 also offers some resistance.  Resistance beyond the range high is at 1.4400 and every 20 pip until 1.4450-1.4460.
---

*USD/JPY*

It was a mixed day yesterday with several whipsaw moves.  This movement could quite possibily continue in this region as there is indecision on the direction, with aggresive moves up and down but not within a set range.

Support is at 93.80 with moves below gravitating towards 93.40 and beyond 93.10.

A rise above 94.25 is likely to test swing highs at 94.60 and beyond that, 95.00.

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Forex trading analysis by Forexpros - Written by Cory Mitchell

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*Disclaimer*
_Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time._
__________________
_*Forexpros *- Bringing you live news, analysis advanced charts and quotes.
Check out our new and improved Technical Studies Section._


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## forexpros (27 August 2009)

*Forexpros.com Daily Analysis - 27/08/2009*

*Forexpros Daily Analysis Aug 27, 2009*


*EUR/USD - Respects Support*

In early trading the pair is respecting the 1.4200 level.  This is a horizontal and hourly  trendline support area.  The trendline will rise throughout the day.  The bias is up, with 1.4220 also coming in as support.

A break below these levels indicates a move to 1.4140.  Support is expected in the 1.4180-1.4160 region.

A continued rise, first above 1.4260, is likely to test recent swing highs in the 1.4350-1.4360 area.

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*USD/JPY - Short-Term Break*

The range that developed over the las two days was broken in early trading today.  The pair brroke below 93.75 and is moving towards support at 93.40.  A move below indicates targets of 93.20 and 93.00.

A push back above 93.80 indicates the break was false and swing highs will likely be retested in the 94.40-94.60 region.  94.20 also provides resistance.

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Forex trading analysis by Forexpros - Written by Cory Mitchell

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*Disclaimer:*
_Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time._

__________________
_*Forexpros - *Bringing you live news, analysis advanced charts and quotes.
Check out our new and improved Technical Studies Section._


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## forexpros (31 August 2009)

*Forexpros.com Daily Analysis - 31/08/2009*

*Forexpros Daily Analysis Aug 31, 2009*


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---

*Euro Dollar - Indecision*

Friday corrected a major portion of the move up on Thursday, and early trading this week has been mixed forming a range.

Minor resistance has formed at 1.4310 with further resistance at 1.4320.  A climb above will likely target 1.4350 followed by 1.4380 and 1.4400-1.4410.

Support is 1.4290, 1.4280 with a break below heading for 1.4250 and (if needed) 1.4220-1.4210.

False breakout are likely in this current climate.

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*USD/JPY - Over the Cliff*

Early trading has sent the USD lower and below support at 93.20 and 93.00.  These levels will now provide resistance on the upside and a push above is likely to test 94.   A rise above 94 (unlikely today) warns of a bear trap.

The breakout lower has a target of 92.20.  Further support is in the 91.80 region.

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Forex trading analysis by Forexpros - Written by Cory Mitchell

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*Disclaimer*
_Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time._
__________________
_*Forexpros* - Bringing you live news, analysis advanced charts and quotes.
Check out our new and improved Technical Studies Section._


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## forexpros (1 September 2009)

*Forexpros.com Daily Analysis - 01/09/2009*

*Forexpros Daily Analysis Sep 1, 2009*



*Euro Dollar*

Current movement is maintained within the larger range.  A rise above 1.4370 will target 1.4400.  A move above could reach 1.4540, but resistance is likely 1.4440-1.4450.

Support is above 1.4300 with a break below likely to test 1.4260.  Further support is 1.4220-1.4200.

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*USD/JPY*

Resistance is 93.20-93.30.  A break above indicates a move to 93.70.  A false breakout will likely result in further USD weakness.  Weakness is indicated by a drop below 92.80 and would be confirmed by a drop below 92.50.

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Forex trading analysis by Forexpros - Written by Cory Mitchell

---

*Disclaimer:*
_Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time._
__________________
_*Forexpros *- Bringing you live news, analysis advanced charts and quotes.
Check out our new and improved Technical Studies Section._


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## Fxortrader (22 March 2019)

EURO ZONE ECONOMY WAITS FOR FRENCH AND GERMAN DATA RELEASES

After a week of minimal driving catalysts from the Eurozone, at the end of trading this week, the release of French, German, and service sector data and manufacturing activity ended by data for the Eurozone as a whole will drive EURUSD. The market still sees that there is still an economic slowdown in the Euro Zone.

If the release of the data again shows an economic slowdown, EURUSD has the potential to be re-depressed. Especially now the dollar has the potential to rebound after the Fed's dovish attitude.


Movement Potential

Gold
The dollar rebound seems potentially still happening today because of the expectation of the end of the normalization of the Fed's monetary policy along with the optimism of the economy in the US. This has the potential to pressure gold today. As long as it consistently moves below 1311, the potential for a weakening of the gold price is testing the nearest support at 1306 before eyeing 1300. Resistance at the level of 1319.

Crude oil
The potential for strengthening oil prices needs to consistently move above yesterday's highest level at 60.30, before 61.20. If you have not been able to break 60.30, the downward potential is targeting 58.85. The global oil production outlook will still be in focus.

EURUSD
The EURUSD movement sentiment can depend on the release of economic data from France, Germany and the Euro Zone. If released worse than estimated, the potential for EURUSD is pressured to target 1.1320. Conversely, the opportunity to strengthen to the resistance area at the level of 1.1415.

GBPUSD
The European Commission has finally allowed Brexit to postpone only until May 22 ahead of Prime Minister Theresa May's request for June 30. But this delay still depends on the decision of the British Parliament. This will be the focus of the market amid the potential for a rebound in the dollar which has the potential to pressure GBPUSD. Down potential targeting 1.3060 if it breaks 1.3100. Resistance at 1.3185.

USDJPY
As long as it moves below 111.00 resistance, USDJPY seems to be in a downtrend targeting 110.35. The dollar rebound seems likely to dominate the sentiment of market movements.

AUDUSD
AUDUSD gets a negative sentiment from the resurgence of trade tensions after the US suspects that China could have denied trade agreements. The potential for AUDUSD to weaken is 0.7070. Nearest resistance at 0.7130.


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## Fxortrader (25 March 2019)

With the lack of important economic data today the market focus will be on the speech of FOMC member Charles Evans at 12:00 WIB, and data from the German business circle from the Ifo institution at 16:00 WIB which could trigger volatility in the US dollar and the euro.

Those who have the chance to become other market drivers can come from the still uncertain trade relations between the US and China and the Brexit crisis ahead of the British parliament's voting this weekend.


Gold

Gold prices have the chance to move up in the short term as the US dollar weakens after the release of pessimistic US economic data last Friday and a global slowdown outlook that could trigger demand for safe haven assets by testing resistance levels at $ 1317 - $ 1320. If it weakens, the support level is seen at $ 1307 - $ 1305. Speech by FOMC member Charles Evans at 12:00 WIB has the chance to catalyze gold price movements.

Oil

Concerns about the outlook for the global economic slowdown after the release of pessimistic developed countries manufacturing indexes at the end of last week could potentially trigger a decline in oil prices in the short term to test support levels at $ 58.00 - $ 57.30. However, oil prices have a chance to move up to test the resistance level at $ 59.30 - $ 60.00 if sentiment on the decline of US rig activity in the Baker Hughes report last Saturday became a positive catalyst for oil prices.

EURUSD

The weakening outlook for the US dollar is likely to be a positive catalyst for the movement of the EURUSD in the short term to test the resistance level at 1.1335 - 1.1390. However, EURUSD has the potential to weaken if the Eurozone business climate data released by pukyl 16:00 WIB shows a lower than expected result to test the support level at 1.1265 - 1.1200.


GBPUSD

GBPUSD has a chance to move up in the short term amid a weakening US dollar and market euphoria towards the EU's temporary easing of time regarding Brexit to test resistance levels at 1.3260 - 1.3300. If it turns down it has the potential to test the support level at 1.3160 - 1.3120.

USDJPY

Again, the high market interest in safe haven assets due to the global economic slowdown outlook and the weakening US dollar has the potential to trigger a decline in the USDJPY in the short term to test the support level at 109.70 - 109.30. For the upside, the resistance level is at 110.00 - 110.50.

AUDUSD

AUDUSD has the potential to move down in the short term amid renewed concerns about the crisis of trade relations between the US and China to test the support level at 0.7055 - 0.7030. If the price moves up, the resistance level is seen at 0.7100 - 0.7120.


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