FXstreet.com: Technical
FXstreet.com: Technical. All about technical information regarding market activity and price changes.

02/03/2012
Mixed Reactions in the US Dollar to the Non-Farm Payroll
Release: US Employment Change (Jan): 243K Consensus Forecast: 150K Previous: 203K Revised from: 200K Release: Unemployment Rate (Jan): 8.3% Consensus Forecast: 8.5% Previous:8.5% Anytime we get above forecast and above 200K employment change and decline in unemployment, we get welcoming sign for the US economy. Risk appetite usually leads to pressure for the USD. Indeed we saw that against the commodity currencies like USD/CAD, AUD/USD and NZD/USD where dollar weakness was apparent right after

FXstreet.com: Technical
FXstreet.com: Technical. All about technical information regarding market activity and price changes.

02/03/2012
GBP/USD: Testing 1.5800, bearish below 1.5740
The GBP/USD has been under selling pressure this Friday, regardless the strong risk appetite seen in stocks. The 4 hours chart shows the pair holds the bullish tone seen over the past few weeks despite testing 1.5740 o US employment readings, having bounced back to 1.5800 afterwards. Technically, the recovery has stalled in the 20 SMA while indicators head south still above their midlines. More range is expected till the end of the day, with the pair trading between 1.5740 and 1.5830 levels.

FXstreet.com: Technical
FXstreet.com: Technical. All about technical information regarding market activity and price changes.

02/03/2012
Currency Majors Technical Perspective
EUR/USD Current price: 1.3085 View Live Chart for the EUR/USD US employment data shook the markets with a much better than expected reading, 243K new jobs added and unemployment rate down to 8.3%. Despite a risk on spike in the EUR/USD towards 1.3200, the pair is now under strong selling pressure testing 1.3070 support area, as QE3 chances had fade. Hourly chart in the pair shows an increasing bearish tone with indicators below their midlines and price below 20 SMA: expect a clear break of

FXstreet.com: Technical
FXstreet.com: Technical. All about technical information regarding market activity and price changes.

02/03/2012
Technical Daily Analysis
$GBPUSD–and NFP? Currently @ 1.5830 and testing the R6 top. Non Farm Payroll is today so that could move it either way. A breakout north would target the -270 Fibo extension @ 1.5932. A break south targets the trendline @ 1.5786 (we could bounce here) and a breakout there might go to the 1.5744. We are bearish for now.

FXstreet.com: Technical
FXstreet.com: Technical. All about technical information regarding market activity and price changes.

02/03/2012
Yesterday saw the EURUSD take a small hit in a difficult trading session
S&P 500 (Mar 12) INTRADAY Review Our short strategy for the E-mini S&P yesterday was spot on. The high of the day was set just before 16.00GMT at 1326.00 which was just 3 ticks over our entry level short. The market then drifted from the top of the range to the bottom of the range over the next two hours and bottomed out at our first profit target at 1317. Support was found and the market bounced and finished the session around the mid point of the range to complete a relatively stable

FXstreet.com: Technical
FXstreet.com: Technical. All about technical information regarding market activity and price changes.

02/03/2012
The Asia/Pacific stock indexes closed divergently
The foreign currency futures open little changed ahead of the vital NFP report after showing a mild bearish tone since Thursday. Following this pause, they should attempt another upmove early next week and possibly as early as post the release of the US economic data. Countering this outlook is the ongoing Greek drama. Reuters reported that Eurozone governments may have to provide up to 145 billion euros to Athens under a second emergency loan programme for Greece, which is 15 billion euros

FXstreet.com: Technical
FXstreet.com: Technical. All about technical information regarding market activity and price changes.

02/03/2012
EURUSD - The Classic Formation set to SHAFT the Market!

FXstreet.com: Technical
FXstreet.com: Technical. All about technical information regarding market activity and price changes.

02/03/2012
Central Bank Intervention a Possibility as Markets Await US Non Farm Payrolls; USD/JPY Hovers above 75.50 Support
The overnight session was market by very quiet trade as no headlines emerged out of the Eurozone and investors are waiting so see the results of today’s Non Farm Payrolls figures before committing to new positions.  Most of the market chatter that has been circulating is focusing on the possibility of central bank intervention in the currency markets, which is something we have been expecting all week.  The focus remains on the Japanese Yen and the Swiss Franc, as both currencies are

FXstreet.com: Technical
FXstreet.com: Technical. All about technical information regarding market activity and price changes.

02/03/2012
EUR/USD Continues to Range Ahead of the Non-Farm Payroll
EUR/USD The EUR/USD failed at another attempt to rally above 1.32 in the 2/1 Us session, and fell through the Asian-European session until it came to attack the 1.31 handle. This was also where the 200 hour simple moving average was, and the RSI reading was at 40. These conditions that give support to EUR/USD signal some slight bullish bias, but also reflects the indecision and hesitation of the EUR/USD market in either direction. As the US session winds down, the market has failed again to

FXstreet.com: Technical
FXstreet.com: Technical. All about technical information regarding market activity and price changes.

02/03/2012
AUD/USD: Steady around 1.0700 ahead of Payrolls
Market is on wait and see mode ahead of the US employment data, with dollar under pressure as stocks advance. High yielders, included Australian dollar, hold the overall bullish tone seen over the past few weeks, with AUD/USD 4 hours chart showing indicators heading north above their midlines, and price finding support in a slightly bullish 20 SMA. As the pair will trade on risk, be aware of stocks reaction to the data: rising stocks amid a surprise positive number, will likely favor a spike

FXstreet.com: Technical
FXstreet.com: Technical. All about technical information regarding market activity and price changes.

02/03/2012
Brent crude posted small gains on Thursday
Crude Brent crude posted small gains on Thursday and closed just shy above 112 USD per barrel (USD/bbl). Regarding the EIA’s weekly petroleum status report released back on Wednesday, it confirmed a relatively low implied demand for oil products in the U.S. in January (see the chart). The main contributor was a lower than usual consumption of motor gasoline. As far as today’s trading is concerned, the eye-catcher is the U.S. payrolls report. For now we doubt that the US data will be able to

FXstreet.com: Technical
FXstreet.com: Technical. All about technical information regarding market activity and price changes.

02/03/2012
Daily Technical Crosses: EUR/CHF, AUD/USD, USD/CAD, NZD/USD, EUR/GBP
EUR/CHF Forecast Technical Analysis EUR/CHF is falling over time, but Thursday saw a little bit of a reprieve. However, the gains were mostly given back. The Swiss National Bank is currently ready to defend the 1.20 level, and most certainly act if the pair falls below it. Because of this, the pair can only be bought if you are to trade it. The candles sticks actually look quite bearish, but the backstop is a large one considering the market is being held up by a central bank that has said

FXstreet.com: Technical
FXstreet.com: Technical. All about technical information regarding market activity and price changes.

02/03/2012
U.S. crude futures fell this week
Chart of the week NYMEX WTI Crude Oil FUNDAMENTALS U.S. crude futures fell this week, dropping to a six-week low as Wednesday's data showing rising crude oil and gasoline stockpiles and weak demand continued to generate bearish sentiment. U.S. crude stockpiles have risen sharply for two consecutive weeks, according to government data, and the latest increase in the week to Jan. 27 was more than 4 million barrels as gasoline demand languishes below year-ago levels. OPEC oil production in

FXstreet.com: Technical
FXstreet.com: Technical. All about technical information regarding market activity and price changes.

02/03/2012
Forex - Chart USD/MXN Update: Still setting up for a reversal off 200-day MA soon
Published at 10:30 (GMT) 03 Feb 10:30 GMT - USD/MXN still looks to have one more shot down to the 12.765/748 zone over the next 3 hours. Once that zone is thoroughly probed, we still think that the daily oscillators such as RSI and Stochastics are extremely o/s enough to warrant a solid reversal from near the 200-day MA at 12.748 soon. More immediate target zone from there is 13.00/078. R.Z R5: 13.25 * 24 Jan high R4: 13.193 25 Jan high R3: 13.078 * break level R2: 13.056 30 Jan high R1: 13

FXstreet.com: Technical
FXstreet.com: Technical. All about technical information regarding market activity and price changes.

02/03/2012
Forex - Stalled Greece Negotiations Will Weigh On Euro Going Forward
Forex News and Events: Talks between Greece and its private sector creditors have still not come to a conclusion and there has been a complete absence of updates on progress this week – raising the uncomfortable possibility that negotiations drag on into another week. The immediate consequences of this lack of resolution are clear; EURUSD has repeatedly failed to garner much buying interest up towards 1.3200 as investors remain concerned that talks may still fail, and risk appetite has failed

FXstreet.com: Technical
FXstreet.com: Technical. All about technical information regarding market activity and price changes.

02/03/2012
GBPUSD: Biased To The Upside Medium Term Despite Price Hesitation
GBPUSD: Biased To The Upside Medium Term Despite Price Hesitation. GBPUSD - Although GBP backed off higher prices to close lower on Thursday, we continue to maintain our upside outlook. This suggests that GBP should eventually return above the 1.5882/5 level.This will pave the way for further strength towards the 1.6074 level, its Nov’2011 high. Its daily RSI is bullish and pointing higher suggesting further strength. On the downside, support lies at the 1.5770/9 level where a reversal of

FXstreet.com: Technical
FXstreet.com: Technical. All about technical information regarding market activity and price changes.

02/03/2012
Strategy for today: short USD/CHF
The trading strategies are based exclusively on technical analysis and are short term with a maximum time horizon of 3 to 5 days. The philosophy behind the Today's Trading Signals (TTS) is to take low risk, high return positions with tight stops. That means Financial Trend Analysis (FTA) focus the most on placing the right stops. Every morning FTA reviews the market and the specific strategy, recalculates the risk/reward and then determines the strategy regardless of previous strategy in the

FXstreet.com: Technical
FXstreet.com: Technical. All about technical information regarding market activity and price changes.

02/03/2012
Daily Majors and Commodities Technical Analysis
EUR USD TREND: Ranging

FXstreet.com: Technical
FXstreet.com: Technical. All about technical information regarding market activity and price changes.

02/03/2012
Asia and Europe Rally, US Ends Mixed
Equities Following the West’s lead on Wednesday, Asian markets rallied on Thursday. The Nikkei gained .8% to 8877, as financial stocks led the gains. Sharp tumbled 16% to a 31-year low after warning of a record loss for the upcoming year. The Kospi climbed 1.3%, as LG Electronics advanced 7.4%, posing its 9th straight gain. In China, the Hang Seng and the Shanghai Composite both soared 2%, while Australia’s ASX 200 advanced 1%. European markets posted modest gains, led by materials stocks,

FXstreet.com: Technical
FXstreet.com: Technical. All about technical information regarding market activity and price changes.

02/03/2012
Daily Commodity Overview
Precious Metals Precious metals advanced on Wednesday amid broadly weaker US Dollar on the positive economic data from the Euro Zone. Gold jumped by 0.33, approaching two-month high of USD 1743.53 per troy ounce. The yellow metals also continued to draw support from the Fed’s decision to keep low interest rates until mid-2014. Other precious metals followed the gold’s suit and rallied during the day. Silver gained 1.62% to USD 33.7088 per troy ounce tracking firmness in base metals. Investors

FXstreet.com: Technical
FXstreet.com: Technical. All about technical information regarding market activity and price changes.

02/03/2012
Daily Forex Technical Overview
Technical Analysis EUR/USD “1.40 is a good target. It wouldn't be a surprise if it [EUR/USD] got up to 1.45 in the fourth quarter� - Bank of New York Mellon (based on CNBC) Industry outlook Upward correction is expected to end in the nearest future, since the pair is approaching an impenetrable for now resistance located at 1.3250. This in turn implies a sell off down to 1.3000 en route to a lower level at 1.2930. Traders’ sentiment The situation with the ratio between the longs and the shorts

FXstreet.com: Technical
FXstreet.com: Technical. All about technical information regarding market activity and price changes.

02/03/2012
Daily Technical Outlook
Plans are only good intentions unless they immediately degenerate into hard work. ~ Peter Drucker Good morning. It’s that day of the month again, when everyone is waiting for the release of NFP report, which is expected by analysts to post a figure around 150k. Most currency pairs are trading quietly since yesterday, ahead of today’s employment figures USD Index 79.50 provides a stable barrier to the upside; sellers are probably waiting on the sideline, in case of a rally in the next

FXstreet.com: Technical
FXstreet.com: Technical. All about technical information regarding market activity and price changes.

02/03/2012
Daily Strategic Report
OVERVIEW Today is NFP Friday. For some reason the market has become fixated by the American payroll data. It regularly obsesses over a piece of data and then moves on. Your analyst remembers when markets used to grind to a halt ahead of US trade data and then have huge volatility afterwards. Now nobody gives a fig about them. The currenct NFP fad seems to be rooted in fact that the Fed are monitoring jobs and homes as key measures of the US recovery, and hence the need for more QE or not. As

FXstreet.com: Technical
FXstreet.com: Technical. All about technical information regarding market activity and price changes.

02/03/2012
Today's Gold Forecast
The pair is trading along an uptrend. The uptrend may be expected to continue in case the market rises above resistance level 1762, which will be followed by reaching resistance level 1770 and then 1787. An downtrend will start as soon as the pair drops below support level 1747, which will be followed by moving down to support level 1730. Resistances: 1762, 1770, 1787 Supports: 1747, 1738, 1730

FXstreet.com: Technical
FXstreet.com: Technical. All about technical information regarding market activity and price changes.

02/03/2012
Global Stock Market Review
S&P 500 Index S&P 500 Index rose on Wednesday, supported by expansion in US, Chinese and European manufacturing amid progress in Greek debt talks. The index added 0.89% or 11.68 points and closed at 1,324.09 with all 10 sectors posting gains. Whirlpool jumped 13.5% after reporting better than predicted quarterly profit and claiming it expects shipments to North America increase by 3% this year. Amazon.com lost 7.7% after its quarterly net revenue declined and income grew at slower pace

FXstreet.com: Technical
FXstreet.com: Technical. All about technical information regarding market activity and price changes.

02/03/2012
Today's GBP/USD Forecast
The pair is trading along an uptrend. The uptrend may be expected to continue from support level 1.5790, which will be followed by reaching resistance level 1.5955. An downtrend will start as soon as the pair drops below support level 1.5790, which will be followed by moving down to support level 1.5665 - 1.5620. Resistances: 1.5835, 1.5955 Supports: 1.5790, 1.5620

FXstreet.com: Technical
FXstreet.com: Technical. All about technical information regarding market activity and price changes.

02/03/2012
Today's EUR/USD Forecast
The pair is trading along an sideways trading pattern. An uptrend will start from support level 1.3080 and as soon, as the pair rises above resistance level 1.3160, which will be followed by moving up to resistance level 1.3215 and then 1.3345. An downtrend will start as soon as the pair drops below support level 1.3080, which will be followed by moving down to support level 1.2980 and then 1.2890 - 1.2815. Resistances: 1.3160, 1.3215, 1.3345 Supports: 1.3080, 1.2980, 1.2815

FXstreet.com: Technical
FXstreet.com: Technical. All about technical information regarding market activity and price changes.

02/03/2012
Technical Summary for Majors
EUR/USD The near-term price action remains in sideways mode, narrowing the range and forming an hourly triangle, after repeated upside rejections at 1.3200 zone, also daily Ichimoku cloud base. Array of supports lie at 1.3120, triangle support; 1.3084, yesterday’s low and the most significant 1.3025/00, range floor / daily 20 day EMA / Fib 38.2%, loss of which further delay upside attempts in favor of stronger pullback. Wider picture’s studies, however, hold positive short-term tone and see

FXstreet.com: Technical
FXstreet.com: Technical. All about technical information regarding market activity and price changes.

02/03/2012
Technical Major Currencies Morning Report
EUR/USD The potential bearish classical pattern discussed earlier remains valid while the pair is gradually approaching its neckline as seen on the provided graph. SMA 50-colored in red- becomes closer and is valued at 1.3110 where a break of which will weaken the neckline of the pattern. MACD traditional is definitely negative reinforcing the bearish scenario. Note that, choppy trading may continue as traders are waiting for NFP data from US today. The trading range for today is among key

FXstreet.com: Technical
FXstreet.com: Technical. All about technical information regarding market activity and price changes.

02/03/2012
Currency Majors Technical Analysis
GBP/USD - British Pound / US Dollar Entry : 1.5825 Stop : 1.578 Resistances : 1.592 - 1.59 - 1.586 Supports : 1.5655 - 1.5725 - 1.579 USD/CAD - US Dollar / Canadian Dollar Entry : 1 Stop : 1.0025 Resistances : 1.006 - 1.004 - 1.0005 Supports : 0.99 - 0.9955 - 0.997 EUR/CAD - Euro / Canadian Dollar Entry : 1.3125 Stop : 1.3145 Resistances : 1.324 - 1.318 - 1.315 Supports : 1.306 - 1.309 - 1.311 EUR/USD - Euro / US Dollar Resistances : 1.332 - 1.3225 - 1.315 Supports : 1.295 - 1.3035 - 1.31

FXstreet.com: Technical
FXstreet.com: Technical. All about technical information regarding market activity and price changes.

02/03/2012
Daily FX Retail Trader Contrarian Analysis

FXstreet.com: Technical
FXstreet.com: Technical. All about technical information regarding market activity and price changes.

02/03/2012
Forex - Chart USD/CNY 1-Yr Update: Intraday trade remains consolidative
Published at 06:58 (GMT) 03 Feb 03 Feb USD/CNY 1-Yr NDF Daily 06:59 GMT - Intraday strength capped by the daily down trendline from 15-Dec's high and further slippage below intraday support at 6.2655 will help bears regain downside pressure towards the recent low of 6.2570. On the upside, lift above 6.2905 hurdle willtrigger a bullish breakout of inverted Head-shoulder pattern. [W.T] R5: 6.3015 13 Jan low R4: 6.2971 * 23 Jan high R3: 6.2905 * 24/25 Jan highs R2: 6.2876 Neckline R1: 6.2815 Down

FXstreet.com: Technical
FXstreet.com: Technical. All about technical information regarding market activity and price changes.

02/03/2012
EURUSD – Buy at the 7am open with a stop of 1.3086
EURUSD – Trading in EURUSD was mixed with the initial dip bought but the subsequent rally rejected, resulting in little net change for the day. However, price action from Friday’s high of 1.3235 to Wednesday’s low of 1.3026, has formed a consolidating expanding wedge. This formation had a bias to break to the upside. This bullish sentiment is further highlighted by EURUSD posting a higher intraday low. In view of these facts our call is a Buy with a stop of 1.3086. The profit targets are

FXstreet.com: Technical
FXstreet.com: Technical. All about technical information regarding market activity and price changes.

02/03/2012
Asia Session/London Open: Investors anxiously await payrolls data out of the US
Risk currencies sunk lower in Asia today, with some investors likely choosing to stay on the sidelines ahead of the payrolls report out of the US at 08:30EST. The few headline data releases out during the session also failed to alter investor sentiment. Equity markets faced the same issues, but they were also hampered by downbeat corporate earnings. Overnight, Chinese Premier Wen Jiabao stated that China is considering how to get more involved in assisting Europe with its debt crisis by

FXstreet.com: Technical
FXstreet.com: Technical. All about technical information regarding market activity and price changes.

02/03/2012
Brent Crude Oil futures are holding steady above $110 per barrel
Brent Crude Oil futures are holding steady above $110 per barrel after having hugged this key support level through most of the trading week. This level serves as the rising trend line which forms the bottom of a Flag chart pattern highlighted here by Autochartist. The Flag appears on the Autochartist 240-minute time frame, currently listed as an active trading opportunity. The approach to support has already confirmed the pattern is intact as of Thursday’s session with a bounce from $110.50

FXstreet.com: Technical
FXstreet.com: Technical. All about technical information regarding market activity and price changes.

02/03/2012
Chinese and Japanese service PMIs improved slightly in January
Key news Chinese and Japanese service PMIs improved slightly in January Greek Finance Minister Venizelos says the ECB should be part of a debt relief and that an agreement must be struck “in the next three or four days at the most�. Main release today is US non-farm payrolls where we look for a below-consensus reading following the strong rise in December. Markets Overnight In China the HSBC Service PMI in January improved slightly from 51.5 to 51.9 and in line with the manufacturing PMIs

FXstreet.com: Technical
FXstreet.com: Technical. All about technical information regarding market activity and price changes.

02/03/2012
After forming Point C on the Japan 225 (JP225) index CFD 30-minute chart
After forming Point C on the Japan 225 (JP225) index CFD 30-minute chart, Autochartist had enough information to identify the making of an ABCD Fibonacci pattern and a possible rally to the Target Price or Point D at 8899.39. If this forecast price level is tested successfully during the time period allotted, the prediction is for the index CFD to break into a series of Fibonacci price levels ranging from 8885.63 to 8842.37. The ABCD Fibonacci pattern is known as the “backbone� of all

FXstreet.com: Technical
FXstreet.com: Technical. All about technical information regarding market activity and price changes.

02/02/2012
EURUSD Forecast for February 3
Good morning everyone. Yesterday's forecasts were in line with the markets throughout the day. EURUSD held strong twice. Today, I'm expecting the same mixed sentiments as yesterday with the US Dollar. Please be cautious today as its NFP (Non Farm Payroll) News release today. Expect swings. I'm adding some pairs as hedged currency pairs to offset the trading risk today. Currency Outlook US Dollar : Mixed Sentiments Short : EURUSD Today we're expecting the EURUSD to proceed Short below the

FXstreet.com: Technical
FXstreet.com: Technical. All about technical information regarding market activity and price changes.

02/02/2012
CAD/JPY continues to decline inside the Rising Wedge chart pattern
CAD/JPY continues to decline inside the Rising Wedge chart pattern identified by Autochartist on the daily charts. Autochartist rates the overall Quality of this chart pattern at the 6 bar level as a result of the strong Initial Trend (rated at the 8 bar level), average Uniformity (5 bars) and lower Clarity (4 bars). This Rising Wedge continues the prevailing downtrend visible on the daily CAD/JPY charts. Both of the connecting points of the upper resistance trendline of this Rising Wedge

FXstreet.com: Technical
FXstreet.com: Technical. All about technical information regarding market activity and price changes.

02/03/2012
Daily Technical Majors: EUR/USD, USD/JPY, GBP/USD, USD/CHF
EUR/USD Forecast Technical Analysis EUR/USD fell during the Thursday session in a tight range. The candle is a hammer, and it looks like the market wants to rise as a result of the Non-Farm Payroll numbers later today. The pair sees a lot of resistance at the 1.32 level, which of course is the 38.2% Fibonacci level from the larger move down. However, we need to see this pair either break and close above the level, or break and close below the 1.29 level in order to get some kind of clarity.