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USDCHF pulled back from 1.1486 and formed a sideways consolidation in a range between 1.1128 and 1.1486. Further rally could be seen after consolidation, a break of 1.1486 level will signal resumption of up trend, and the next target would be at 1.1800 zone. Initial support is located at 1.1128, and followed by the up trend line 1.0010 to 1.0693, now at 1.0900 level. For long term analysis, USDCHF is in long term bullish movement. Further rise is still possible to 1.2000 zone after

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(Chart courtesy of FX Solutions' FX AccuCharts. Price on 1st pane, Slow Stochastics on 2nd pane; uptrend lines in green; downtrend line in red; horizontal support/resistance levels in yellow; 200-period simple moving average in light blue.) 10/10/2008 – USD/CAD – As of Friday mid-session in New York, recent dramatic bullish moves on the USD/CAD (a daily chart of which is shown), have shot price up past several key resistance zones, reaching all the way up to the major 1.1970-2.000 resistance

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Action Insight Mid-Day Report Volatile Stocks, Calm Currencies Volatile prices actions continue today with Dow opens sharply lower and dives to below 8000 level briefly but rebounds strongly since then. The forex markets are relatively steady. Dollar and yen remain generally firm but struggle to ride on the falling global stock markets to make decisive break against Euro and Aussie. The Canadian dollar is sold off sharply across the board following Crude oil's weakness which sees it breaches

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EURO, JAP YEN and EURO-YEN --------------------------- Read our current comments and trade recommendations on EUR-USD, USD-JPY and EUR-JPY by registering at http://www.kshitij.com/fxthoughts/fxthoughts.shtml#register Our comments on Dollar-Swiss, Sterling Pound and Australian Dollar are given below ---------------------     USD-CHF @ 1.1178/83...Can target 1.10-09 ----------------------------------------- R: 1.1250 / 1.1315-25 S: 1.1145-15 / 1.0900 It is a question that needs to be

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American Session EUR/USD - Euro Dollar 1,3526. EUR USD is in an downtrend directed by 4H exponential moving averages. EUR USD is in a consolidation after the last bearish movement. The volatility decreases. ForexTrend 1H, 4H, daily (Mataf Trend Indicator) is in a bearish configuration. 1H, 4H ForexSto (Modified Stochastic) indicate a bearish pressure on EUR USD. The price should find a support above 1,3440 (86 pips). The consolidation should continue. If the support is broken then the target

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EUR/USD broke out from the channel to the down side, but without power. Fake break out? Maybe, support line at 1.3439 even has not been touch yet. We must respect the fact – price moved down below channel line and accept it without thinking too much fake break out or not. Until resistance line at 1.3737 has not been broken, trend is negative.

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USDCHf has reached the support zone at 1.1225/50 and we have already seen the pair bounce a couple of times failing to punch through; this support zone coupled with the trendline connecting a series of lower highs is forming a triangle over the course of past few days. Although this looks like a strong support level a break from here will increase the bearish momentum and push the pair all the way down to 1.11 perhaps even lower. Conversely a movement above the resistance trendline will open up

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EUR/USD Resistance : 1,3625/ 1,3670/ 1,3720/ 1,3760-70/ 1,3810 Support : 1,3500-10/ 1,3440/ 1,3400/ 1,3370/ 1,3340/ 1,3300 Comment : The upward move above 1,3750-70 area was reversed, canceling all upward expectations and the pullback below 1,3700 indicated what is about to follow. The upward consolidation from 1,3440 was reversed and euro is reaching now the support level of 1,3510, which is a target for our upward expectations. The reaction and the candle formation in the daily chart cause

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Comment: How long will it take for everyone to realise that central banks have lost the ability to control interest rates, both at the long end and now also at the short end (except overnight)? Now even the Treasury Bond markets are in disarray, with yields on Index-linked and BRICs soaring, two-year ones collapsing, and even ten-year JGB’s showing very large intra-day swings. Front month Eurodollar futures are the most inverted ever against all contract months and despite G7 and IMF this

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Good morning from wonderful Hamburg. There are a lot of hopes for more help of the governments on the G7 meeting later on the day. In spite of more rate cuts of central banks the markets did not rebound and the most of stocks and indices from all over the world closed the day with losses after an extreme sell off in US equities. Market review The GBP dropped to the lowest level against the USD in almost 5 years to 1.6847 on concern on the dispute between UK and Iceland governments over

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EUR/USD Current level-1.3583 EUR/USD is in а downtrend, after finalizing the rebound from 1.3882 (Sept. 11 2008) at 1.3882. Technical indicators are falling, and trading is situated below the 50- and 200-Day SMA, currently projected at 1.4595 and 1.5183.      The pair broke through the 1.3882 weekly low, thus signalizing, that the overall downtrend has been renewed. Monday's slide has reached 1.3443 and we believe, that the current rebound is corrective in nature, preceeding

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Action Insight Daily Report GBP, CAD, AUD Hit Hard as Financial Crisis Deepens Dollar and yen are generally higher today as global stock markets tumble following DOW's 678pts fall to 8579. Niikkei dropped nearly another 10% to 8276, having the worse weekly drop in history after a 98 year old Japanese insure Yamato Life files for bankruptcy. European stock markets also open sharply lower with FTSE 100, DAX and CAC 40 dropping nearly 10%. Dollar index resumes recent rally and climbs to as high

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EUR   The presumed test of key support range was confirmed with conditions for the realization of the pre-planned buying positions. OsMA trend indicator, having marked the sign of pair oversold supports the preservation of buying positions but also considering the general minimal bearish advantage we assume the possibility of another test 1.3480/1.3500 supports, where it is recommended to evaluate the activity development of both parties according to the charts of shorter time interval.

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EUR Comment: Still hovering nervously above a new recent low at 1.3444 in what is a potential C leg of an A, B, C-type correction where C is 0.6% of A, yet attempts at rallying have been pathetic so far. The Euro is oversold and bearish momentum its strongest ever, and Eastern European currencies are hard-hit this week. Strategy: Possibly attempt tiny longs at 1.3525; stop below 1.3400. First target 1.3700, maybe 1.3900. EUR/JPY Comment: Dropping to a new recent low at 132.80, a third downside

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Drop from 1.4867 sent the pair back below daily Uptrendline off 2002 (1.3996 today) , with new reaction low scored: Support area at 1.3481 (reaction low hourly + daily envelope bottom), with next levels at 1.3465/ .3444 (weekly envelope bottom/ current new reaction low), where pause favored. If wrong on that call, risk towards 1.3358/ .3320(weekly Starc bottom + Aug 2007 low/ 61.8% 2005 low to 1.6040): tough on 1st attempts, amid oversold readings and bullish divergences in the making.

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European Session EUR/USD - Euro Dollar 1,3521. EUR USD is in an downtrend directed by 4H exponential moving averages. EUR USD is in a consolidation after the last bearish movement. The volatility is high. Bollinger bands are parallel and form the trend. ForexTrend 1H, 4H, daily (Mataf Trend Indicator) is in a bearish configuration. 1H, 4H ForexSto (Modified Stochastic) indicate a bearish pressure on EUR USD. The downtrend should continue to gather momentum. The price should find a support

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Several words about the EUR/USD future. Resistance (daily close) :   1.4692 and 1.4884. Then 1.5117, 1.5386, 1.5592 and 1.5660. Break of the letter will lead to 1.5865, 1.7280 and 1.9430. Support (daily close) : : 1.4366, 1.3972, 1.3770 and 1.3567. Then 1.3411 , 1.3263, 1.3106 and  1.2964 (published on 07.11.2007) . Dow Jones : Resistance(daily close) : 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

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(Chart courtesy of FX Solutions' FX AccuCharts. Price on 1st pane, Slow Stochastics on 2nd pane; uptrend line in green; chart patterns in yellow; horizontal support/resistance levels in yellow; 50-period simple moving average in light blue.) 10/09/2008 – EUR/USD – Within the past few days, a tight consolidation on the EUR/USD (a daily chart of which is shown) has formed a rough inverted flag pattern. The flagpole represents the massive drop that has occurred in the pair within the last two

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Action Insight Mid-Day Report USD/CAD Surges, Yen and Dollar Consolidates Markets remains relatively calm comparing to recent high volatility. US stocks open mildly higher but there is not enough momentum for a sizeable rebound. Yen and dollar continues to consolidation in most pairs. Aussie is still maintaining earlier strengths. While the Aussie is the biggest winner today, Canadian dollar is among the biggest losers. USD/CAD resumes rally after brief consolidation earlier today and take out

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American Session EUR/USD - Euro Dollar 1,3706. EUR USD is in an downtrend directed by 4H exponential moving averages. EUR USD is in a consolidation after the last bearish movement. The volatility is low. Bollinger bands are flat. ForexTrend daily (Mataf Trend Indicator) is in a bearish configuration. The consolidation should continue. The price should continue to move in 1,3590 / 1,3800 range. We won't take a position. The risk/reward ratio is too high to take a position.. Resistances 1,3800 -

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EUR/USD Resistance : 1,3690/ 1,3740/ 1,3810/ 1,3865/ 1,3910 Support : 1,3540/ 1,3510/ 1,3440-50/ 1,3400/ 1,3370/ 1,3330 Comment : Euro’s reaction continues, and a upward base seems to be formed. We will wait to see if it will be used for the move resumption or it would be a beginning of an upward move until 1,4000 or 1,4150-70, where a base is likely to be formed in terms of a correction of the wider decline in the last two weeks. We give more possibilities to the second scenario, being very

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EurUSd has formed a perfect triangle on the 4hours charts over the last couple of days, clearly marking the 1.3740 resistance level and a series of higher lows. This can turn into a very good risk:reward trade, all we have to do is wait for a break outside the triangle and enter with the trend, either playing it aggressively and opening a position right after the break or wait for a small retracement to validate the movement.With tight stops and projected target of 1.39 and 1.40 on the bullish

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EUR/USD Current level-1.3749 EUR/USD is in а downtrend, after finalizing the rebound from 1.3882 (Sept. 11 2008) at 1.3882. Technical indicators are falling, and trading is situated below the 50- and 200-Day SMA, currently projected at 1.4595 and 1.5183.      The pair broke through the 1.3882 weekly low, thus signalizing, that the overall downtrend has been renewed. Monday's slide has reached 1.3443 and we believe, that the current rebound is corrective in nature, preceeding

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EUR/USD support at 1.3439 and now we see some range channel trending slightly up. Break any of those channel lines and next trend will be that direction. But for now buy one channel line sell another.

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Good morning from wonderful Hamburg. Yesterday we have seen large interventions from central banks around the globe cutting interest rates to stabilize the world wide economy and bring back confidence to the market participants. Market review Due to the coordinated string of central bank rate cuts the AUD/JPY and EUR/JPY buyers got more risk appetite and speculations grows of more joint actions, such as to guarantee interbank lending. The Nikkei average surges more than 2% after suffering the

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EUR The pre-planned breakout variant for buyers was realized with overlap of minimal assumed target. OsMA trend indicator, having marked the activity fall of both parties as before does not provide definiteness in the choice of planning priorities for today but gives reasons for the preservation of earlier drawn up trading plans practically unchanged. Hence, as before we assume the possibility of pair return to 1.3480/1.3500 supports, where it is recommended to evaluate the activity

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Comment: The rush into Schatz continues as EZ15, and EU27 for that matter, investors wake to the massive political and economic problems they face when dealing with the credit crunch. The spread over US two-year TNotes has narrowed to 140 basis points and now looks set to collapse to 80, maybe 20. Euribor futures traders seem a lot more optimistic, pushing calendar spreads to some of the most inverted ever. Three-month Libor at 5.37%, six-month at 5.45%, are pretty much where they were first

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EUR Comment: Mercifully calm amid mayhem in every financial sector. Still hovering nervously above a new recent low at 1.3444 in what is a potential C leg of an A, B, C-type correction where C is 0.6% of A. The Euro is oversold and bearish momentum its strongest ever, while the Brazilian real has lost 13.4% and South Korean won 12.1% versus the USD over the last 5 days! Central bankers making the smallest possible interest rate cuts, co-ordinated or coerced, underline the fact they have little

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Drop from 1.4867 sent the pair back below daily Uptrendline off 2002 (1.3990 today) , with new reaction low scored: Support area at 1.3582 (today’s low?), with next levels at 1.3542 (reaction lows hourly), ahead of 1.3481 (daily envelope bottom + reaction low hourly) and 1.3465/ .3444 (weekly envelope bottom/ current new reaction low), where pause favored. If wrong on that call, risk towards 1.3397 (daily Bollinger bottom), ahead of 1.3358 (weekly Starc bottom + Aug 2007 low): tough on 1st

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Action Insight Daily Report Yen Retreats, Aussie Rebounds as Markets Stabilize Yen retreats mildly today with Asian stock markets stabilizes from yesterday's crash. South Korean, taiwan and Hong Kong reduced interest rates following the coordinated global rate cut yesterday which include Fed, ECB, BoE, BoC, Riksbank, SNB and PBoC. BoJ and RBA injected 4T yen and A$3.49b into the financial system. But after all, investors are not convinced that the rate cuts are enough to save the world economy

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European Session EUR/USD - Euro Dollar 1,3645. EUR USD is in an downtrend directed by 4H exponential moving averages. EUR USD is in a consolidation after the last bearish movement. The volatility is low. Bollinger bands are flat. ForexTrend 1H, daily (Mataf Trend Indicator) is in a bearish configuration. The consolidation should continue. The price should continue to move in 1,3500 / 1,3800 range. We won't take a position. Resistances 1,3700 - 1,3800 Supports 1,3560 - 1,3450 more information

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Several words about the EUR/USD future. Resistance (daily close) :   1.4692 and 1.4884. Then 1.5117, 1.5386, 1.5592 and 1.5660. Break of the letter will lead to 1.5865, 1.7280 and 1.9430. Support (daily close) : : 1.4366, 1.3972, 1.3770 and 1.3567. Then 1.3411 , 1.3263, 1.3106 and  1.2964 (published on  07.11.2007) . Dow Jones : Resistance(daily close) : 11 520.30 , 11 749.22, 11 970.00, 12 152.82, 12 600.24, 12 982.20, 13 162.50 and 13 320.00. Then 13 567.60, 13 668.74 и 13

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GBPUSD remains in down trend and the fall from 1.8668 extends to as low as 1.7011 level. Deeper decline may be seen to 1.6750 later today. Initial resistance is at the down trend line from 1.8668 to 1.7659, now at 1.7475 level, as long as the trend line resistance holds, we’d expect downtrend to continue.

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USDCHF pulls back from 1.1486 and reaches as low as 1.1209. Deeper decline is still possible to 1.1100 zone. However, the next short term cycle bottom is nearing, and rebound towards 1.1486 could be seen in a couple of days.

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(Chart courtesy of FX Solutions' FX AccuCharts. Price on 1st pane, Slow Stochastics on 2nd pane; uptrend lines in green; downtrend lines in red; horizontal support/resistance levels in yellow; 50-period simple moving average in light blue.) 10/08/2008 – USD/JPY – It is no secret that the yen has strengthened dramatically in the last few days, as shown on the accompanying USD/JPY daily chart. After retreating from a significant downtrend resistance line (marked “A�), price has dropped all the

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Action Insight Mid-Day Report Markets Shrug off Coordinated Rate Cuts Federal Reserve, European Central Bank, Bank of England, Bank of Canada, Swiss National Bank and Sweden's Riksbank join forces today in a historical, emergency, coordinated global rate cuts by 50bps ease save the world's economies from the worst crisis since the Great Depression. Fed, ECB, BoE, BoC and Riksbank will cut by 50bps. SNB cut by 25bps. PBoC of China also joins to cut by 27bps. BoJ didn't participate but said it