FXstreet.com: Technical: Forex Trading Strategies
FXstreet.com: Forex Trading Strategies. The general trend on currencies analyzed by respected professionals.

Pair is quoting at daily highs testing 1.3640 area. With positive sentiment on markets,as gold and Wall Street are rising strongly and technically bullish in the hourly chart, pair should accelerate above 1.3650 and approach to key 1.3685/1.3700 area. Pair should lose the 1.3610 level to change bias and test 1.3580 support.

FXstreet.com: Technical: Forex Trading Strategies
FXstreet.com: Forex Trading Strategies. The general trend on currencies analyzed by respected professionals.

AUDUSD - Concentration by resistance barrier is extended. Waiting action remains. EURUSD - Bears didn't slide below support barrier. At the moment bulls are testing resistance barrier. While resistance and support levels hold, further bouncing is possible. EURGBP - Bulls didn't manage to break resistance even though bulls moved above resistance. Waiting situation holds. NZDUSD - Look for buying options above resistance level at 0.7025. Bulls are confident enough to extend current positive

FXstreet.com: Technical: Forex Trading Strategies
FXstreet.com: Forex Trading Strategies. The general trend on currencies analyzed by respected professionals.

HIGHLIGHTS: GBPUSD: Although GBP is maintaining a valid immediate downside bias having failed at the 1.5195 level on Monday, GBPUSD: GBPUSD: Faces Immediate Downside Pressure GBPUSD - Although GBP is maintaining a valid immediate downside bias having failed at the 1.5195 level on Monday, it will have to firmly break and hold below its 2010 low at 1.4782 to convince the market that its correction activated from the 1.4782 level has ended. If that occurs, a resumption of its medium term

FXstreet.com: Technical: Forex Trading Strategies
FXstreet.com: Forex Trading Strategies. The general trend on currencies analyzed by respected professionals.

EUR / USD The pair, after losing ground in the European morning to lows around 1.3540, is on a recovery path now, currently at 1.3580. We see the upward momentum remaining intact today, reaching levels above 1.3650. GBP / USD Consolidating its lower levels in the European morning, the pound is currently trading at 1.4882 against the dollar. Around that level, we expect bidding coming up and see higher prices near the 1.5000 mark. USD / CHF The dollar is on a down correction move against the

FXstreet.com: Technical: Forex Trading Strategies
FXstreet.com: Forex Trading Strategies. The general trend on currencies analyzed by respected professionals.

WTI Oil April Contract WTI remains under pressure now with the little top formation. Also the daily charts are showing there to be quite a large top formation now...so this should come lower over the next week... 8070 to 8035 will be the short term objective. Here sellers will look to cover. They will re-instate if the market breaks 8035. Once this support has been dispatched look for 7965/60 then the short term objective. Again seller will cover. Buyers however are expected at this point and

FXstreet.com: Technical: Forex Trading Strategies
FXstreet.com: Forex Trading Strategies. The general trend on currencies analyzed by respected professionals.

AUDUSD - Resistance level holds bulls movement from reaching new highs. At the moment waiting action remains. EURUSD - Look for selling opportunities below support barrier, strong bearish movement can be initiated. EURGBP - Bulls are looking forward to extend their prior movement towards new highs. In order to continue climbing, resistance level needs to be broken. NZDUSD - Despite the recent bearish fall back to resistance, bulls are controlling the situation. Look for buying options. USDCAD

FXstreet.com: Technical: Forex Trading Strategies
FXstreet.com: Forex Trading Strategies. The general trend on currencies analyzed by respected professionals.

Short Sterling June hit resistance at 99.28 which gives us an excellent selling opportunity as stops can be tight above 99.30. Only a break above here allows moves to the upside to continue. If 99.28 holds then a return to the lower end of the range at 99.24/23 and eventually 99.21/20 should follow which provides excellent risk/ reward. Sept hit 99.12 buy dipped all the way back to support at 99.08. If we hold above here look for a return to 99.12 then 99.15 for an excellent selling

FXstreet.com: Technical: Forex Trading Strategies
FXstreet.com: Forex Trading Strategies. The general trend on currencies analyzed by respected professionals.

Dax March Contract Dax bounced a few ticks above 5834 support and managed to reach 5909. The market looks a little weakened after yesterday’s action. We have failed to reach our target of 5821 and a dip towards support at 5865/62 looks likely. A break below 5860 would continue the weakness for today down to 5838/34 where buyers will try to ensure we are supported once again. A move below 5830 however keeps the pressure on for excellent support at 5820/16 where shorts need to be covered and

FXstreet.com: Technical: Forex Trading Strategies
FXstreet.com: Forex Trading Strategies. The general trend on currencies analyzed by respected professionals.

GBP struggles under the weight of weak data, Fitch comments MAJOR HEADLINES – PREVIOUS SESSION US Feb. NFIB Small Business Optimism out at 88.0 vs. 90.0 expected and 89.3 prior US IBD/TIPP Economic Optimism out at 45.4 vs. 47.5 expected and 46.8 prior NZ Q4 Terms of Trade out at +5.7% q/q vs. revised -1.6% prior US Weekly ABC Consumer Confidence out at -49 vs. -48 expected and -49 prior AU Mar. Westpac Consumer Confidence out at +0.2% vs. -2.6% prior JP Jan. Machine Orders out at -3.7% m/m,

FXstreet.com: Technical: Forex Trading Strategies
FXstreet.com: Forex Trading Strategies. The general trend on currencies analyzed by respected professionals.

Stalking GBP/JPY Daily and 4H: We saw the GBP/JPY end last week with a bullish attempt, within a declining channel. This is a counter-trend rally, and a trading approach is to stalk the rally until it has completed the correction. (Refer to Weekly Technical Update 3.5.2010; last pair ) The rally reversed at 137.50 area and is now testing 134.0, previous resistance now tested as support. I have a feeling there could be another rally attempt if 134.0 indeed holds. Then at the 136.13 are the

FXstreet.com: Technical: Forex Trading Strategies
FXstreet.com: Forex Trading Strategies. The general trend on currencies analyzed by respected professionals.

GBP/USD Another Bearish Swing? Daily and 4H: The GBP/USD broke below a short-term rising channel support , which you can see in the 4H chart. A swing projection in the 4H chart matches the 200% expanded swing projection of a larger scale move. Both targeting below 1.45, near 1.44/1.4380. The stochastic failed to roll up from the oversold region in the daily, and in the 4H time-frame was very sharp in decline. However looking at the 4H time-frame, we see that the market has been quietly

FXstreet.com: Technical: Forex Trading Strategies
FXstreet.com: Forex Trading Strategies. The general trend on currencies analyzed by respected professionals.

Debt Worries Pressure European Currencies While lower against the yen and commodity currencies, the dollar was higher versus the European currencies on Tuesday. The S&P 500 rose 1.95 on the bull market’s 1-year anniversary to 1,140.45, up 69% since hitting a 12-year low of 676.53 one year ago. The euro fell on renewed credit concerns over the PIIGS countries. According to Fitch Ratings, Portugal’s rating could be downgraded if fiscal consolidation was insufficient and Spain was vulnerable

FXstreet.com: Technical: Forex Trading Strategies
FXstreet.com: Forex Trading Strategies. The general trend on currencies analyzed by respected professionals.

Fundamental data from Australia showing home loans fall unexpectedly by almost 8% bring risk aversion back to the table. Euro remains the weaker currency across the board, and approaching to 1.3570/80 support zone. Again under that level, pair likely to extend the fall to the 1.3530 area ahead of 1.3485 key support. Upside should remain capped by the 1.3610/40 area and only clear acceleration above that leve, not seen at this point, could reverse pair trend.

FXstreet.com: Technical: Forex Trading Strategies
FXstreet.com: Forex Trading Strategies. The general trend on currencies analyzed by respected professionals.

GBPUSD is facing a selling pressure pushing it down as long as it remains below (1.5079) any four hours close below (1.4852) will open the way for the pair to test the next support level at (1.4782). Any four hours bare close above (1.5079) will change pair`s direction. Traders should consider selling each rally with a stop loss at (1.5079).

FXstreet.com: Technical: Forex Trading Strategies
FXstreet.com: Forex Trading Strategies. The general trend on currencies analyzed by respected professionals.

AUDUSD - Concentration near support level is extended. Waiting action still remains for now. EURUSD - Despite the breakout at support barrier, neutral situation holds. Short term selling options are still possible. EURGBP - Bulls did reach successfully resistance level, but didn't break it. Possible rebound back to support barrier. NZDUSD - Resistance and support level remains valid. Despite the recent bearish movement downside, bulls are controlling the situation for now. USDCAD - Bears are

FXstreet.com: Technical: Forex Trading Strategies
FXstreet.com: Forex Trading Strategies. The general trend on currencies analyzed by respected professionals.

HIGHLIGHTS: EURUSD: Despite its price failure at the 1.3703 level on Monday, EUR continues to retain its consolidation to corrective tone initiated from the 1.3433 level.. EURUSD EURUSD: Continues To Retain Consolidation Tone. EURUSD - Despite its price failure at the 1.3703 level on Monday, EUR continues to retain its consolidation to corrective tone initiated from the 1.3433 level. With that said, a break and close above the 1.3735 level must occur to trigger the resumption of its recovery

FXstreet.com: Technical: Forex Trading Strategies
FXstreet.com: Forex Trading Strategies. The general trend on currencies analyzed by respected professionals.

EUR/ USD The pair is continuing to lose ground this European morning, trading at 1.3595 right now. Around these prices, we expect some recovery, to 1.3630. Later renewed selling would bring the market down to 1.3540. GBP / USD The established downtrend brought dable to the current 1.4960, near today's lows so far in the European morning. A sideward trend is now most probable, with an upper limit near 1.5000, before we expect another bout of weakness, leading to 1.4850. USD / CHF The bidding

FXstreet.com: Technical: Forex Trading Strategies
FXstreet.com: Forex Trading Strategies. The general trend on currencies analyzed by respected professionals.

Pair lost the 1.3600 level, reaching an intraday low around 1.3580 strong area, retreating slightly yet in general with a bearish tone coming from indicators; 20 SMA capping the upside and gaining downside slope also favors further falls for the next hours; an acceleration under previous low, from 1.3565 or so, will likely send the pair lower, to the 1.3530 area, followed by 1.3485 congestion zone. To the upside, bias may change only above 1.3640, as a strong acceleration around that area

FXstreet.com: Technical: Forex Trading Strategies
FXstreet.com: Forex Trading Strategies. The general trend on currencies analyzed by respected professionals.

EUR/GBP Weekly candlestick chart. Prices dipped towards the 10 day moving average at 0.8970 region but remained well supported. Price action now pushing towards the 0.9150 level but last weeks price action created a long shadow on the weekly candle – testing the market only to find sellers! Next potential resistance is likely to be at the top of this candlestick and the trend line just beyond (see chart). These are levels of future resistance on continued moves higher. In the shadow of

FXstreet.com: Technical: Forex Trading Strategies
FXstreet.com: Forex Trading Strategies. The general trend on currencies analyzed by respected professionals.

AUDUSD - Bulls are struggling to break resistance level, however according to recent movement, a breakout is still expected. EURUSD - Look for selling possibilities below support level, but for now waiting action remains while breakout is not confirmed. EURGBP - Despite the boring situation and low movements, bulls are looking forward to test resistance barrier once again. NZDUSD - Above support level bulls side is safe. Even though candles remain above support barrier, in order to extend

FXstreet.com: Technical: Forex Trading Strategies
FXstreet.com: Forex Trading Strategies. The general trend on currencies analyzed by respected professionals.

German Bund June Contract After failing to break above 122.60 Bunds came lower to 122.26 alleviating the overbought conditions on the short term charts. They held above 122.20/13 support however and climbed back to 122.45 on the close. So once more today there is scope for 122.60. If we struggle here then take this as a sign of weakness still and sell this market looking for this to come lower. 122.30/25 to 122.20 still the targeted area. Buyers will be waiting here. If they fail to hold this

FXstreet.com: Technical: Forex Trading Strategies
FXstreet.com: Forex Trading Strategies. The general trend on currencies analyzed by respected professionals.

EUR/USD 1.3580 is the support we are looking at today. If we can hold this support and there is no reason we cant really, then we should see another go at resistance located at 1.3670/95. Within this resistance band you are looking to cover all longs. Sellers may be edgy and only come in if the short term stochastics become overbought. However they may attempt to 1.3725 and it is only above here that sellers will worry. If this resistance breaks then look for buyers to take this higher for

FXstreet.com: Technical: Forex Trading Strategies
FXstreet.com: Forex Trading Strategies. The general trend on currencies analyzed by respected professionals.

UK data still on weak side; Australia data the opposite MAJOR HEADLINES – PREVIOUS SESSION CA Feb. Housing Starts out at 196.7k vs. 190.0k expected and revised 185.4k prior NZ Q2 Manpower Survey out at 17% vs. 14% prior JP Q2 Manpower Survey out at -1%, unchanged from prior NZ Feb. Credit Card Spending out at -0.4% m/m vs. revised +0.4% prior China Q2 Manpower Survey out at 17% vs. 14% prior UK Feb. BRC Retail Sales out at +2.2% y/y vs. -0.7% prior UK Feb. House Price Balance out at 17% vs.

FXstreet.com: Technical: Forex Trading Strategies
FXstreet.com: Forex Trading Strategies. The general trend on currencies analyzed by respected professionals.

Dow Jones : Resistance(daily close) : 9382.12, 9744.26, 10 091.30, 10 935.23 , 11 164.57, 344.92 and 11 520.30. Then 11 749.22, 11 970.00, 12 152.82, 12 600.24, 12 982.20, 13 162.50 and 13 320.00.   Break of the latter will lead to 13 567.60, 13 668.74 and 13 792.53 (published on October 21, 2008). Support (daily close):   9630.33 and  9358.35(main), 9090.00, 8912.62 (published on November 10, 2009) . Today’s support: - 10479.40 and 10429.80(main), where a delay and

FXstreet.com: Technical: Forex Trading Strategies
FXstreet.com: Forex Trading Strategies. The general trend on currencies analyzed by respected professionals.

EURUSD - Are the Bulls Getting More Confident? After 4 weeks trying to close below the weekly Kumo and 4 attempts to close below the 1.3500 big figure, are the bulls finally getting more confident they can hold the downside here?  This is an intriguing question as the pair did make a slightly higher high than the previous week.  So far, the pair is still caught between two walls; bottom = 1.3450 / high = 1.3800.  This is the major range which has to break before new players will

FXstreet.com: Technical: Forex Trading Strategies
FXstreet.com: Forex Trading Strategies. The general trend on currencies analyzed by respected professionals.

GBP/USD Near-term Outlook Materializrd 1H: The GBP/USD finished its decline to the 1.5070 area, and actually got to as low as 1.05030 to start the US session. The GBP/USD could still rally to 1.53, but the market started the week held below 1.52, so the morning near-term outlook was a decline to the 1.5070 area before a move to 1.53. (Refer to Daily Technical Update 3/8/2010 GBP/USD ). The decline took off after a shor bounce to 1.5150 before the US session began. The market is now testing

FXstreet.com: Technical: Forex Trading Strategies
FXstreet.com: Forex Trading Strategies. The general trend on currencies analyzed by respected professionals.

GBP/USD Near-term Outlook 4H: Looking at the GBP/USD in the near-term, we see that the market is in a correction from the previous downswing. So far, some resistance at 50% and test of SMA 50, as well as stochastic crossover in the overbought zone. The market can still continue to rally to 61.8% reracement area, or even 153.50 to test the previous powerline. However, we can see that the market is already testing a minor powerline at 1.52. So let’s stalking this current near-term decline and

FXstreet.com: Technical: Forex Trading Strategies
FXstreet.com: Forex Trading Strategies. The general trend on currencies analyzed by respected professionals.

Dollar Likely to Test Resistance The dollar traded mixed on Monday. The S&P 500 slipped just 0.20 to 1,138.50. The euro pared overnight gains after Greek Prime Minister George Papandreou said “unprincipled speculators� need to be curtailed to prevent the fiscal crisis to spread. Earlier the single currency rose following French President Nicolas Sarkozy’s comment that the EMU is ready to help Greece if necessary and reports that Germany and France were planning to launch a European

FXstreet.com: Technical: Forex Trading Strategies
FXstreet.com: Forex Trading Strategies. The general trend on currencies analyzed by respected professionals.

Pound remains under selling pressure in this first Japan hour, approaching to 1.5000 support area; 4 hours charts show strong bearish momentum, that should extend under mentioned level to the 1.4940/50 strong area. Risk appetite swift to aversion, with stocks down and gold subdued, favoring the movement. Pair needs to recover above 1.5085 highs area, to change intraday bias and test 1.5130 zone.

FXstreet.com: Technical: Forex Trading Strategies
FXstreet.com: Forex Trading Strategies. The general trend on currencies analyzed by respected professionals.

After spiking to the downside and bottoming at 1.5050/60 lows, pair seems ready for an upside corrective movement as hourly chart reached oversold area. Above 1.5080, pair likely to test back 1.5120/30 zone, ahead of 1.5170 resistance area. Lose of 1.5040 lows,  pair should accelerate downwards and test 1.5000 key psychological zone.

FXstreet.com: Technical: Forex Trading Strategies
FXstreet.com: Forex Trading Strategies. The general trend on currencies analyzed by respected professionals.

AUDUSD - Bulls have continued moving towards new highs, however resistance level holds bulls side from further climbing. EURUSD - Bulls have strong potential to breach out by resistance barrier and reach new highs. EURGBP - Waiting action remains, very boring situation... NZDUSD - Low trading range is formed between support and resistance levels. According to current trend, bulls have enough strength to break resistance barrier. Waiting action holds for now. USDCAD - Low movement is extended

FXstreet.com: Technical: Forex Trading Strategies
FXstreet.com: Forex Trading Strategies. The general trend on currencies analyzed by respected professionals.

EUR / USD The uptrend of the pair continued in Asia's start of the week and is now establishing a consolidation in the early European market hours at the 1.3670 level. We see one more upmove in today's trading, but not significantly above 1.3730, where renewed selling would set in. Currently at 1.3653. GBP / USD Cable is still following a moderate uptrend in the European morning, currently trading at 1.5140. We expect the up momentum to fade out around 1.5240 today. Market weakness then could

FXstreet.com: Technical: Forex Trading Strategies
FXstreet.com: Forex Trading Strategies. The general trend on currencies analyzed by respected professionals.

4 hours charts show downside remains limited in the pair, by 20 SMA with a slightly bullish slope still unable to gain strength. Momentum is flat under 100 line, attempting an upside cross, while RSI is above 50 level, yet with limited upside strength. Above 1.3680, pair likely test highs around 1.3705, and acceleration there should send the cross to the 1.3740 area. Clear candle opening under 20 SMA around 1.3630, will favor downside continuation to tkey 1.3580/1.3600 support zone.

FXstreet.com: Technical: Forex Trading Strategies
FXstreet.com: Forex Trading Strategies. The general trend on currencies analyzed by respected professionals.

S&P March Contract We have overcome many obstacle last week to get to where we are now, and this week there is one more to go before we can safely say the uptrend will continue. 1147/48 is the previous top from January and if we can break and hold above 1150 then the weakness down to 1040 was just a correction and the S&P will continue on its merry way higher, fulfilling the inverse H&S target of 1225. However short term we are overbought, so there is scope for a correction over

FXstreet.com: Technical: Forex Trading Strategies
FXstreet.com: Forex Trading Strategies. The general trend on currencies analyzed by respected professionals.

Better than feared US employment data for February accompanied by new liquidity measures in Japan to combat deflationary pressures has reestablished a bid for pro-risk strategies, with a return of JPY led carry trades being touted. A bullish technical set-up for risk assets and commodities, characterized by a move through 5,600 for the FTSE100 and crude oil through $81pb, favours long AUD, CAD, SEK vs JPY strategies over the week ahead. GBP and EUR on the other hand continue to suffer from a

FXstreet.com: Technical: Forex Trading Strategies
FXstreet.com: Forex Trading Strategies. The general trend on currencies analyzed by respected professionals.

Eurostoxx March Contract You can see this week we bounced off the weekly 25% fib of 2724 reaching lows of 2736. Good bounce higher and Friday we exceeded 2870 leaving 2895/2901 targeted, with the market reaching 2896. For this coming week, you should see initially a move lower to ease the short term oversold conditions of the charts. However once retracement has taken place there is nothing really to stop this coming back higher, breaking 2901 leaving 2933 the 75% med term fib level targeted.

FXstreet.com: Technical: Forex Trading Strategies
FXstreet.com: Forex Trading Strategies. The general trend on currencies analyzed by respected professionals.

AUDUSD - Bulls have extended their current positive movement, look for buying options above resistance level but it should be done with a care. EURUSD - After low trading range, bulls have initiated strong movement towards new highs. However, neutral situation still holds. Short term downswings are expected now. EURGBP - Boring movement, however below support level bears can get more confidence and stronger activity is possible. Waiting action remains for now. At the moment, bulls are safe

FXstreet.com: Technical: Forex Trading Strategies
FXstreet.com: Forex Trading Strategies. The general trend on currencies analyzed by respected professionals.

In This Issue: GBPUSD: With a hammer candle starting a corrective recovery on the daily chart the past week and seeing the pair reduce its earlier losses to a marginal one on Friday,.... GBPUSD GBPUSD: Closes On A Hammer, Set To Recover Higher. GBPUSD - With a hammer candle starting a corrective recovery on the daily chart the past week and seeing the pair reduce its earlier losses to a marginal one on Friday, further confirmation of that recovery looks to be triggered as another hammer candle

FXstreet.com: Technical: Forex Trading Strategies
FXstreet.com: Forex Trading Strategies. The general trend on currencies analyzed by respected professionals.

Weekend press focus on CNY peg doesn’t increase appetite MAJOR HEADLINES – PREVIOUS SESSION US Feb. Change in Non-farm Payrolls out at -36k vs. -68k expected and revised -26k prior US Feb. Unemployment Rate out at 9.7% vs. 9.8% expected and unchanged from prior US Feb. Avg. Hourly Earnings out at +0.1% m/m vs. +0.2% expected and +0.2% prior US Jan. Consumer Credit out at +$5 bln vs. -$4.5 bln expected and revised -$4.6 bln prior NZ Q4 Manufacturing Activity out at +0.7% unchanged from revised

FXstreet.com: Technical: Forex Trading Strategies
FXstreet.com: Forex Trading Strategies. The general trend on currencies analyzed by respected professionals.

Dow Jones : Resistance(daily close) : 9382.12, 9744.26, 10 091.30, 10 935.23 , 11 164.57, 344.92 and 11 520.30. Then 11 749.22, 11 970.00, 12 152.82, 12 600.24, 12 982.20, 13 162.50 and 13 320.00.   Break of the latter will lead to 13 567.60, 13 668.74 and 13 792.53 (published on October 21, 2008). Support (daily close):   9630.33 and  9358.35(main), 9090.00, 8912.62 (published on November 10, 2009) . Today’s support: - 10479.40 and 10429.80(main), where a delay and