Forex Market Updates & Commentary |  |
- Dec 4th 2009 Weekend Forex Technical Review and Preview for next weeks trading
- FXDD Online Trainings Dec 8th and 10th 2009 4pm
- AUDUSD moves down toward the gap at 0.9075
- $GBPUSD 100 day MA at the 1.6422 level is being tested
- EURUSD tests trendline support line at 1.4860.
- Dec 4th Forex Midday Report
- $GBPUSD moves through lows for the day
- The $EURUSD continues move lower. 1.4860 trendline eyed next.
- Watching 133.78 in the EURJPY. 100 day moving average and floor post NFP today.
- Why is the AUDUSD going down?
| Dec 4th 2009 Weekend Forex Technical Review and Preview for next weeks trading Posted: 04 Dec 2009 04:14 PM PST |
| FXDD Online Trainings Dec 8th and 10th 2009 4pm Posted: 04 Dec 2009 04:13 PM PST Thanks to all that joined us this week. Here are the links for the next two trainings. Tuesday Dec 8th 2009 4pm New York Time Register Here Thursday Dec 10th 2009 4pm New York Time Register Here All information is at http://forex.fxdd.com/webinars |
| AUDUSD moves down toward the gap at 0.9075 Posted: 04 Dec 2009 12:04 PM PST As per the prior post (click here), the AUDUSD is moving down toward the gap from last Friday/Sundays trade. ON Friday the market closed at 0.9075 the low on Sunday was 0.9095. The gap has so far not been filled. This continues to be the next target for the pair. |
| $GBPUSD 100 day MA at the 1.6422 level is being tested Posted: 04 Dec 2009 11:55 AM PST As per the prior post (click here) a target for the GBPUSD is the 100 day MA. Well, with the continued buying of the dollar, the 100 day MA at the 1.6422 level is being tested at the moment. Look for some profit taking buying. However take note that a close below the level will be bearish for the pair and should lead to lower levels next week. Meanwhile the USDJPY is inching higher toward trendline resistance at the 91.34 level. |
| EURUSD tests trendline support line at 1.4860. Posted: 04 Dec 2009 10:31 AM PST Look for further downside pressure with 1.4828 the next target on the downside. |
| Posted: 04 Dec 2009 09:30 AM PST |
| $GBPUSD moves through lows for the day Posted: 04 Dec 2009 08:40 AM PST The GBPUSD is moving below the low for the day at 1.6519. The price is below the 100 and 200 hour MA at the 1.6566/76 levels respectively. A move below the lows for the day, should lead to further liquidation in the pair toward the 1.6496 level. The bias is down however, so be careful Looking at the daily chart, with the price back below the 100 and 200 hour MAs, the 100 day MA may come back in focus for a longer term target. That level comes in at the 1.6422 level. It was only on Tuesday of this week when we were at this level. |
| The $EURUSD continues move lower. 1.4860 trendline eyed next. Posted: 04 Dec 2009 08:23 AM PST Pressure continues on the EURUSD as London and Europe look to exit for the weekend. The 1.4860 level remains a key trendline support level for the EURUSD. The low last Friday reached the 1.4828 level. These levels are the targets. On the topside watching the old low today at the 1.4912 for resistance now. |
| Watching 133.78 in the EURJPY. 100 day moving average and floor post NFP today. Posted: 04 Dec 2009 07:58 AM PST The 133.78 level is the 100 day MA in the EURJPY. The price moved above this level on the back of hte better data and surge in the USDJPY. WIth the EURUSD coming under pressure the EURJPY is also back down testing this level. SO far, the support has held. Keep an eye on the level. |
| Posted: 04 Dec 2009 07:40 AM PST The AUDUSD has been supported by the carry trade and by prospects of global growth. The better jobs data keeps the global growth story alive, but may put into question the carry trade spread widening story. If the Fed starts to talk about taking some of the easing out of the equation this can lead to an unwinding of the carry trades. As a result, we are seeing the pair under pressure today. The price has moved below the old trendline support at the 0.9248 level and is back below the 0.9200 level where the 200 hour moving average is found today (green line in the chart above. This level will be upside resistance now for the pair. On the downside, the price still has a gap from last Friday/Sunday evening trade on the one hour chart to fill. That gap comes in at the 0.9075 level and it is a target for the pair on the downside if the price is able to stay below 0.9200. This is the first logical stop. A further correction off the daily chart can be even more significant with the low from November 2009 at the 0.8904 level and the 100 day MA at 0.8767 not out of the question IF talk of raising rates from the 0.25% in the US starts to make the rounds. With the better NFP today (job growth with revisions), this is a reason for talks to resurface. |
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