EUR/USD: Bullish Engulfing and Approaching Important Level by Forexpros – May 19, 2010
May 19, 2010 Make Money Online
The last few days I have talked about a reversal. Not a “catch a falling knife” trade, but I do expect a bounce at some point and with major lows taken out and a rally back above, it appears prudent to be aware of a potential reversal and not get married to the short.
Yesterday I mentioned 1.2450 as a level that if surpassed could trigger some bullish action. I does not mean a straight up shot after that, but it would indicate that the Euro is seeing some more aggressive buyers coming in. On Wednesday we approached that level on a significantly strong day for the EUR which produced a bullish engulfing pattern.
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EUR/USD Pops Following Yesterday’s Swift Selloff by Fast Brokers – May 19, 2010
May 19, 2010 Make Money Online
The EUR/USD’s temporary bottom gave way yesterday as the dollar appreciated across the board after Germany surprised markets by announcing it is suspending short selling on government bands and on the shares of 10 major banks. The move caught investors off guard and resulted in speculation that Germany is preparing for an approaching storm. However, this may be an overreaction since Germany is echoing the decision the U.S. made to ban short selling on financials following the collapse in 2008. Hence, Germany is likely just covering all of its bases due to abnormal fiscal strains in the union. Regardless, the decision sent shockwaves throughout the markets and the EUR/USD nearly touched 1.21 as a result. The currency pair is posting a solid pop today, climbing back above 1.23 after U.S. CPI printed below analyst estimates. However, Merkel has made some troubling comments over the past 24 hours, most notably that Germany will push for a measure that will create a process for the ‘orderly insolvency’ of member nations which fail to meet EU economic standards. This battle is worrying because if an EU nation were to be ejected from the union in the future the Euro may feel the brunt of the pain. Merkel’s hardline stance shows she is probably feeling the heat from losing her majority and wants to show citizens that they will not simply foot the bill for floundering EU countries. Meanwhile, although today’s bounce is encouraging, the momentum clearly remains to the downside until there is a significant, game changing development. The EU was quiet on the data wire today, leaving the Euro in the hands of psychological forces. Although Germany will release its PPI tomorrow, attention will likely remain focused on fiscal developments and psychological forces.
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Tags: EUR, Fast Brokers, Forex, USD
Fundamental Precious Metals by ecPulse – May 19, 2010
May 19, 2010 Make Money Online
Trading during the past period has mostly evolved into speculation on investment assets, debt instruments and several metals. Speculation has taken the form of open selling for profit-taking. Precious metals have lost some of their value due to profit-taking and lack of speculation in their market.
Fear crept back into the markets concerning with the Greek crisis and large deficits in several other European countries. American stock markets slipped yesterday, while today Asian markets trailed their bearishness. The Dow Jones closed with a loss of 1.08% while Nikkei dropped 0.54% today.
Commodities showed no unity as S&P GSCI fell slightly by 0.43 points and closed at 486.96. Demand on oil dropped with declining prices, as crude continues its steep downward movement for the seventh consecutive day to trade around $68 per barrel. Read the rest of this entry »
GBPUSD Technical Analysis by Deltastock – May 19, 2010
May 19, 2010 Make Money Online
Current level – 1.4340
The pair is in a downtrend after peaking at 1.7042. Trading is situated between the 50- and 200-day SMA, currently projected at 1.5190 and 1.5986.
The recent test at 1.4249 provoked a minor consolidation phase, which is expected to be limited below 1.4405 before next drowning towards 1.4130 target area. Trigger on the downside is 1.4275.
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Tags: Deltastock, Forex, GBP, Technical Analysis, USD
USDJPY Technical Analysis by Deltastock – May 19, 2010
May 19, 2010 Make Money Online
Current level – 92.03 Read the rest of this entry »
The pair is in a broad consolidation above 84.78 short-term low. Trading is situated above the 50- and 200-day SMA, currently projected at 92.15 and 91.32.
Tags: Deltastock, Forex, JPY, USD
EURUSD Technical Analysis by Deltastock – May 19, 2010
May 19, 2010 Make Money Online
Current level – 1.2198
EUR/USD is in a downtrend, after peaking at 1.5146 (Nov.25,2009). Technical indicators are descending, and trading is situated below the 50- and 200-Day SMA, currently projected at 1.3458 and 1.4206.
As expected, all the tests in the 1.2440 area failed and the pair suffered a severe sell-off to 1.2143. Although we do think, that the slide from 1.2440 is the last leg of the downtrend from 1.3097, the bias on the lower frames is still negative and favors continuation towards 1.2050-70 reversal area. Current rebound above 1.2143 is expected to be limited below 1.2270-80 before next leg downwards, to 1.20+ sentiment zone.
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Tags: Deltastock, EUR, Forex, USD
EURUSD Тechnical analysis by Bulbrokers – May 19, 2010
May 19, 2010 Make Money Online
Тhe short term picture is negative as the euro extended its losses. The negative trend will likely remain and it’s very possible to witness levels below 1.2000. On the downside the below the psychological 1.20, support is expected around 1.1850, followed by 1.1625. On the upside resistance is seen at 1.3000, followed by 1.3400 and 1.3580.
Support 1.2000 1.1850 1.1625
Resistance 1.3000 1.3400 1.3580
–Bulbrokers–
Tags: Bulbrokers, EUR, Foreign Exchange, Forex, USD, Тechnical analysis
GBPUSD Тechnical analysis by Bulbrokers – May 19, 2010
May 19, 2010 Make Money Online
The short term picture is negative as the sterling erase far from resistance at 1.5000. On the downside if 1.4000 get broken, support is expected at 1.3800 and 1.3502. On the upside resistance is seen at 1.5380, followed by 1.5480, which is 38.2% Fibo retracement of the 1.8666-1.3502 drop, and 1.5810.
Support 1.4000 1.3800 1.3502
Resistance 1.5380 1.5480 1.5810
–Bulbrokers–
Tags: Bulbrokers, Foreign Exchange, Forex, GBP, USD, Тechnical analysis
GBP/USD Technical Analysis 6 May 2010 By iForex.bg – May 06, 2010
May 6, 2010 Make Money Online
GBP/USD Open 1.5095 High 1.5173 Low 1.5092 Close 1.5089
Pound/Dollar continued depreciating on Wednesday, in line with the negative Interbank sentiment at around -2%. The Cable depreciated yesterday from 1.5173 to 1.5073, closing the day at 1.5089. Today Sterling’s weakening continued. First resistance is yesterday’s top at 1.5173. Break above it should extend the bullish movement further towards 1.5264. The nearest support is today’s bottom at 1.5030. Going bellow it should extend British Pound’s weakening further down towards next downward target 1.4936. Today’s focus is on UK CIPS services index and BoE meeting announcement at 8:30 and 11 GMT respectively. Quotes are moving bellow the 20 and 50 EMA on the 1 hour chart, indicating bearish pressure. The value of the RSI is negative and calm, MACD is negative and declining, while CCI is in the oversold zone on the 1 hour chart, giving overall short signals.
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Tags: CCI, Foreign Exchange, Forex, GBP, iForex.bg, Interbank, MACD, Technical Analysis, USD
GBPUSD-market strategy indicates buying levels from the $1.5013 by Finotec – May 06, 2010
May 6, 2010 Make Money Online
Technical oscillators supporting the bullish trend for the currency pair GBP/USD-market strategy indicates buying levels from the $1.5013 Read the rest of this entry »
To strengthen our analysis; we use many other indicators, starting with MACD (Moving Averages convergence divergence); we notice the MACD lines are in a bullish direction. In order to find the power of the market, we use RSI (Relative Strength Index).With RSI; we can determine that the market is in a bullish direction. Also, MA oscillators indicate a bullish cross on the short MA line. Selling from $1.5203 on a break.
Tags: Finotec, Foreign Exchange, Forex, GBP, MACD, Market strategy, RSI, USD
