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Daily Forex Reports |
Written by ecPulse.com |
Friday, 03 September 2010 06:49 GMT
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Oil extended its rise yesterday noting that trading stabilized below the subsidiary channel’s support levels that were previously breached and shifted to resistance, at 75.20. Overbought signs are appearing on the momentum indicators which adds to the strength of those resistance levels,
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Daily Forex Reports |
Written by ecPulse.com |
Friday, 03 September 2010 06:45 GMT
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EURUSDThe pair’s trading between the retested levels at 1.2770 and 61.8% Fibonacci levels at 1.2830 and it found difficulty in breaching due to the negative sings appearing on the four-hour chart momentum indicator.
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Daily Forex Reports |
Written by AceTraderfx.com |
Friday, 03 September 2010 00:54 GMT
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Market Review - 02/09/2010 22:47 GMTEuro rises due to solid European bond auctions ahead of U.S. non-farm payrolls
The single currency strengthened against the greenback on Thursday, as solid results from Spanish and French bond auctions boosted risk appetite and gave support to euro, however, investors remained cautious ahead of the release of US non-farm payrolls.
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Daily Forex Reports |
Written by forexpros.com |
Thursday, 02 September 2010 10:17 GMT
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ForexPros Daily Analysis September 02, 2010
Euro Dollar
For the first time in 11 days the Euro reached 1.28, penetrating the resistance in yesterday’s report 1.2792, declaring that it refuses to give up. However, the rise stopped just before our target 1.2871, and the pair consolidated around 1.28 without getting very far from it, which keeps the hopes of more upside activity alive. Looking at the hourly chart, we see an obvious horizontal support at last week’s high 1.2777.
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Daily Forex Reports |
Written by ecPulse.com |
Thursday, 02 September 2010 09:19 GMT
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After the index exited the general upside wave in a downside correctional wave, the index continues to fluctuate within the newly established upside channel retesting the breached general support above.
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Daily Forex Reports |
Written by bforex.com |
Thursday, 02 September 2010 09:18 GMT
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The markets showed just how divergent they can be on Wednesday. Wall Street finished the day with large gains, supposedly based on the positive numbers coming from the ISM Manufacturing PMI.
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Daily Forex Reports |
Written by bforex.com |
Thursday, 02 September 2010 09:16 GMT
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EURUSD:
The EUR has been consolidating below the 50 day moving average, after breaking below it, 2 weeks ago. It seemed unable to sustain a close above 1.27 and it could not close above it’s 100 day MA as well. However, Yesterday’s price action finally lifted the EUR across its 100 day MA as it closed right at the 50 MA.
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Daily Forex Reports |
Written by bforex.com |
Thursday, 02 September 2010 09:15 GMT
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The EUR gained yesterday even as Germany released bad Retail Sales numbers. The gain in value by the Single Currency against the greenback on Wednesday may prove to be a short term move on the belief by some that the EUR has been oversold.
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Daily Forex Reports |
Written by bforex.com |
Thursday, 02 September 2010 08:59 GMT
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A poor Manufacturing PMI report from the U.K. on Wednesday was enough to help drive the Sterling slightly lower against the USD. Mixed economic data has been the norm from the U.K. for a while now, but yesterday’s statistics came when investors had been starting to express doubts about the ability of the government to practice their austerity measures and achieve growth all in the same breath.
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Daily Forex Reports |
Written by bforex.com |
Thursday, 02 September 2010 08:57 GMT
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The JPY continues to battle within the highest points of its value against the USD as the Bank of Japan expresses its desire to have a weaker currency. The problem for Japan is that it has not been able to show the investment world that it has the capability of stemming the JPY’s climb in value.
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