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Daily Forex Reports |
Written by iFOREX.bg |
Wednesday, 10 March 2010 11:09 GMT
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USD/JPY Open 90.02 High 90.62 Low 89.62 Close 89.95
After some hesitant trading on Monday, yesterday Dollar/Yen traded with a decrease from 90.30 down to 89.62, closing the day at 89.95. From that point the currency couple started adjusting convincingly upwards, and our expectation today are for strengthening of the Dollar to continue. Going above Monday's peak 90.62 would confirm the bulls' domination at this time, and appreciating of the pair may continue towards 91.26, which may seriously shake the integrity of the bearish channel on the 3 hour chart. Immediate support is yesterday's bottom at 89.62. Today's focus is on Japan's GDP Q4 at 23:50 GMT. Quotes are currently moving above the 20 and 50 EMA, indicating bullish pressure. The RSI, MACD and CCI indicators are all positive and rising, giving overall long signals.
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Daily Forex Reports |
Written by forexpros.com |
Wednesday, 10 March 2010 11:04 GMT
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ForexPros Daily Analysis March 10, 2010
Free webinar on ForexPros - Using Chart Patterns to Recognize Trends in the
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When: Mon, Mar 15, 2010, 11:00 EST
This session will discuss the proprietary cycles studies with other
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trading the markets.
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Daily Forex Reports |
Written by InstaForex.com |
Wednesday, 10 March 2010 10:52 GMT
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Overview:
This situation is similar with the euro. The price, having not completed the planned targets, began to move in sideways direction again. We see, as the price moves in the sideways channel, which is clearly signaled by Bollinger bands.
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Daily Forex Reports |
Written by Finexo.com |
Wednesday, 10 March 2010 09:38 GMT
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Market Notes:
Sterling continues to be the weakest kid on the block due to the weight of weak data.
Chinese exports showed a 45.7% annual increase this morning while imports grew 44.7%, adding fuel to the global recovery story.
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Daily Forex Reports |
Written by iFOREX.bg |
Wednesday, 10 March 2010 09:35 GMT
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GBP/USD Open 1.5013 High 1.5196 Low 1.4975 Close 1.4995
Pound/Dollar slipped bellow 1.5 on Tuesday on Goods trade data. The Cable dropped down to to 1.4938, from where it corrected up to 1.5015, closing the day at 1.4995. Today's focus is on UK Industrial production and Manufacturing at 9:30 GMT. Today the weakening of the British Pound continued as expected, down 1.4886, and our expectations are for the bearish trend seen on the 3 hour chart to continue towards next objective downwards 1.4867. Immediate resistance is yesterday's top at 1.5016, followed by 1.5086. Going above Monday's top 1.5193 may lead to further recovery of the Sterling. Quotes are currently moving bellow the 20 and 50 EMA on the 1 hour chart, indicating bearish pressure. The value of RSI indicator is negative and rising, MACD is negative and declining, while CCI is negative and calm, giving overall short signals.
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Daily Forex Reports |
Written by Forexyard.com |
Wednesday, 10 March 2010 08:50 GMT
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Investors raised their appetite for riskier assets during yesterday's trading, but still avoided European and British currencies because of debt worries. The big gainers yesterday were the AUD and CAD, both currencies are linked to commodities, in particular crude oil. Crude oil had recently gained in positive momentum, although it closed slightly lower yesterday. The question remains whether the EUR and GBP will attract some of the appetite for riskier assets.
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Daily Forex Reports |
Written by iFOREX.bg |
Wednesday, 10 March 2010 06:15 GMT
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EUR/USD Open 1.3607 High 1.3698 Low 1.3541 Close 1.3599
After rising on Monday to 1.3698, Euro/Dollar traded with a slight decrease on Tuesday down to 1.3541, closing the day at 1.3599. Our expectations for the currency couple are neutral in the short and medium term, till we see break out of the 1.3461 - 1.3779 range, as seen on the 1 hour chart. The pair will need strong sentiment data to get it out of the current consolidation phase and point movement direction. Going bellow the 1.3541 support may trigger stronger bearish impulse towards next target 1.3468. First resistance is Monday's top at 1.3698. Today's focus is on U.S. Red book at 13:55 GMT. Quotes are moving bellow the 50 and above the 20 EMA on the 1 hour chart, indicating slight upward correctional pressure. The value of RSI, MACD and CCI indicators are all positive and dovish on the 1 hour chart, giving overall neutral signals.
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Daily Forex Reports |
Written by AceTraderfx.com |
Wednesday, 10 March 2010 01:38 GMT
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Market Review - 09/03/2010 22:52GMT
Euro declines on debt woes and Fitch's comments
The dollar traded higher against most major currencies except the Japanese Yen on Tuesday. The safe-haven yen rose broadly amid Japanese repatriation flows while the single currency fell on concerns peripheral euro zone economies could face debt problems similar to those of Greece.
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Daily Forex Reports |
Written by InstaForex.com |
Tuesday, 09 March 2010 14:19 GMT
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There were no any changes on Monday, as the pair growth before noon was fully leveled by slumping demand for risky assets in the US trades.
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Daily Forex Reports |
Written by forexpros.com |
Tuesday, 09 March 2010 11:28 GMT
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ForexPros Daily Analysis March 9, 2010
Fundamental Analysis: JPY - GDP (QoQ)
Traders anticipate the publication of the Gross Domestic Product (GDP). It is the broadest measure of economic activity and is a key indicator for the economy's health. The quarterly percent changes in GDP shows the growth rate of the economy as a whole.
A higher than expected reading should be taken as positive/bullish for the JPY, while a lower than expected reading should be taken as negative/bearish for the JPY. Analysts predict a reading of 1.00%.
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