ForexBookMark.com

The EURUSD made indecisive movement yesterday. Price attempted to push higher, topped at 1.3713 but closed lower at 1.3647. We have nothing significant so far and the market seems consolidating but still in a bearish scenario. However the hammer candlestick pattern I showed yesterday, remains indicating potential upside correction testing...

Euro 1.3645 Initial support at 1.3584 (May 20 low) followed by 1.3531 (May 19 low). Initial resistance is now located at 1.3903 (Feb 4 high) followed by 1.4026 (Feb 3 high)

The USD/CHF pair hit its 1.07 swing projection to complete a bearish gartley. (Refer to Daily Technical Update USD/CHF 2.4.2010). The weekly chart shows the completion of this pattern at the 89.6% retracement level (1.079-1.080). Although it appears ready to roll back from overbought zone, it is still too early...

The 1 H time-frame shows a bearish butterfly and a triangle pattern. If the market breaks above the 1.075 area (127.0% extended retracement and 78.6% retracement), it is possible the market is ready to head to 1.0880-1.090 area as the wave 5 projection.

The dollar fell in early Monday trading but later pared losses on a WSJ report that Federal Reserve Chairman Ben Bernanke will begin laying the groundwork for credit tightening later in the year. There was no important US economic release today to influence the trade. Treasury Secretary Timothy Geithner predicted...

The NY session was lacking in news and economic events and it looked as if short-covering (taking profit on short positions) was the flavor. Risk went on an absolute rollercoaster and US equities would eventually falter into the close, settling -0.9% lower. EUR/JPY was tied close to the risk hip...

USD traded mixed Monday with the main focus on sovereign debt risks in Europe. EUR experienced a modest recovery as EU officials and central bankers from the G7 said they were confident that Greece will be able to cut its deficits. Greek and Spanish default swap spreads narrowed a bit...

The euro eked out a gain against the dollar Monday but was kept under pressure by festering issues of sovereign debt in Greece that threatened to spread to Portugal and Spain. The Dollar Index, which tracks the greenback against a trade-weighted basket of currencies, was 80.132 from 80.323. The euro...

It has been a range-bound session for the majors as a lack of economic releases coupled with the absence of new sovereign debt headlines allowed risk assets to stabilize somewhat. For now, the panic element that had fuelled EURUSD's plunge has subsided, but worries surrounding the PIGS (Portugal, Ireland, Greece...

The AUD/USD is stabilizing above its psychological .85 level and our uptrend lines as the risk trade stabilizes across the marketplace. A weekend of rest coupled Trichet’s reassurances the ECB and EU have Greece’s debt issue under control has allowed the Dollar to ease off of last week’s highs following...