3/3 FXstreet.com: Technical: Technical Analysis Reports

Please add updates@feedmyinbox.com to your address book to make sure you receive these messages in the future. FXstreet.com: Technical: Technical Analysis Reports EURUSD bounced from 1.3435 March 3, 2010 at 9:50 AM After touching 1.3443 previous low, EURUSD bounced from 1.3435, suggesting that a short term cycle bottom is being formed on 4-hour chart. Further rise to test 1.3691 is expected later today, a break above this level will confirm the cycle bottom, then further rally could be seen to 1.3750-1.3800 area. However. The price action from 1.3443 is still treated as consolidation of downtrend from 1.4579, one more fall towards 1.3300 is still possible after consolidation. EUR/GBP crosses March 3, 2010 at 8:53 AM    Today, I will take a look at the EUR/USD, GBP/USD, and AUD/USD, as well as the EUR/GBP crosses. April Gold Surges to Major 50% Level March 3, 2010 at 7:38 AM The impending weaker Dollar helped to boost April Gold on Tuesday. The rally tested a major 50% price at $1136.75. Regaining this level will be a sign of strength and could trigger a further rally to $1158.50. The recent weakness in the British Pound and Euro has put gold at an all-time high in terms of these two currencies. This is a sign that traders have been diverting investment funds into gold as a hedge against currency market instability. Gold is set up for a big rally if the rising Euro Posts Closing Price Reversal Bottom; Appears Ready to Turn Trend March 3, 2010 at 7:36 AM The EUR USD posted a closing price reversal bottom after positive comments from Greek officials encouraged weak shorts to lighten up their positions. After touching a new low for the year overnight, the EUR USD turned around as the lack of fresh selling pressure scared some of the weaker shorts out of the market. Near the midsession, the Euro moved higher as the market responded to new budget cut proposals by Greece. This triggered the short-covering rally which produced the closing price Currency Majors Technical Perspective March 3, 2010 at 6:24 AM EUR/USD Current price: 1.3608 Another strong come back from the 1.3440 area, left the pair above 1.3600 in Asian session, with a slightly bullish perspective for next hours, also favored by positive cue from Wall Street, than managed to close positive; above 20 SMA, pair needs to accelerate above 1.6620 yesterday's high, to extend the rally to 1.3650 area, daily descendant trend line. Above it, a retest of the 1.3700 area seems likely for next hours. Key resistance level lies now at 1.3580 Stocks Holding Gains but Rally is Slowing. March 3, 2010 at 1:54 AM U.S. equity markets are trading higher, but the rally appears to be slowing due to the lack of fresh buyers. Strong overnight support led to a higher opening this morning, but the rally has stalled. Traders seem to be waiting for a catalyst to take the markets to the next level. The lack of fresh economic news may be partially to blame for the slow down in the trade. The other reason is uncertainty over whether a resolution will be reached between the European Union and Greece. June Treasury Dollar Mixed; Euro May Post Reversal Bottom March 3, 2010 at 1:46 AM The U.S. Dollar is trading mixed against most majors as traders try to decide whether it has reached the end of the rally, This morning's surge to the upside in the March Dollar Index fell short of the recent main top at 81.43 before turning lower. This is an indication that the selling may be greater than the buying at current levels. The formation of a secondary lower top will also be a strong sign that this market is getting ready to rollover to the downside. After touching a new low for Chart of the Day – USD/JPY March 2, 2010 at 11:27 PM (Chart courtesy of FX Solutions' FX AccuCharts. Price on 1st pane, Slow Stochastics on 2nd pane; horizontal support/resistance levels in yellow; uptrend lines in green; downtrend lines in red; chart patterns in white; 50-period simple moving average in light blue.) 3/02/2010 – USD/JPY – Price action on USD/JPY, a daily chart of which is shown, has just formed a tight consolidation after having made a strong bearish run in late February. This occurs within the context of a continuing parallel EURUSD looking to continue its momentum March 2, 2010 at 11:27 PM EURUSD EURUSD seems to carry on its downward trend at the moment but the only thing that seems to slow down the dip is the low RSI but EURUSD is getting over it by taking reasonable retracements and this also is providing traders, especially intra-day traders with good selling levels. Currently a good selling level can be seen just below 1.3600 level and traders will be aiming to sell EURUSD for a dip below 1.3500 level. RSI is just above 40 and it seems that it will also support an extended Comprehensive FX and Futures Daily Commentary March 2, 2010 at 11:12 PM Daily Market Commentary EUR/USD Bounces Following Retracement Below Feb Lows The EUR/USD is bouncing higher after falling beneath February lows. We recognize positive price movement across the board, particularly in gold and the Aussie. Such activity is likely due to a combination of oversold conditions and the 25 basis point hike by the RBA. The RBA's decision to pursue its hawkish monetary policy is a boost for the risk trade with Australia's economic fundamentals on track. However, Technical Summary for Majors March 2, 2010 at 10:37 PM EUR/USD Broke under 1.3445 to reach fresh yearly low at 1.3434 today. Recovery attempt followed, though, negative structure dominates while 1.3653 holds and only sustained break through 1.2681/90 to improve. Res: 1.3597, 1.3653, 1.3681, 1.3690 Sup: 1.3460, 1.3434, 1.3422, 1.3342 GBP/USD Corrects from 1.4780 low, though 1.5012 caps for now. Break there to extend higher to 1.5094/1.5125, possibly 1.5185/1.5203 on a break. Downside loss of 1.4880/53, however, weakens and re-exposes 1.4780 test. Optimism Continues to Support Stock Market Rise. March 2, 2010 at 10:23 PM Investor optimism over a resolution to the sovereign debt problem in Greece and improvements in the U.S. economy are helping to boost U.S. equity markets following a change in trend to the upside on Monday. Traders expect the trend to continue today as the charts indicate very little resistance to the upside. The lack of major economic reports today indicates that traders are likely to focus on any new developments coming out of Greece. The key to an early rally will be whether U.S. investors Political Uncertainty, Debt Concerns Send British Pound Down Sharply March 2, 2010 at 10:20 PM The GBP USD plunged following reports that a poll indicated that the minority party may win the upcoming election. Such a move will mark the first time since 1974 that the minority party has gained such power. Investors feel that this drastic change will stall the country's efforts to shore up the U.K.'s debt issues.  In addition, the weaker Euro also dragged down the Pound as fear swept through the markets over the possibility that the sovereign debt crisis was spreading to the U.K. Currency Majors Technical Analysis March 2, 2010 at 8:35 PM EUR/USD - Euro / US Dollar Entry : 1.356 Stop : 1.359 Resistances : 1.379 - 1.366 - 1.3575 Supports : 1.3435 - 1.345 - 1.351 GBP/JPY - British Pound / Yen Entry : 133.3 Stop : 134.1 Resistances : 136.75 - 134.5 - 133.7 Supports : 131 - 132 - 132.5 GBP/USD - British Pound / US Dollar Entry : 1.4965 Stop : 1.5035 Resistances : 1.519 - 1.51 - 1.5005 Supports : 1.475 - 1.4785 - 1.4855 USD/CAD - US Dollar / Canadian Dollar Entry : 1.035 Stop : 1.038 Resistances : 1.0495 - 1.044 - 1.0385 Supports : Currency Majors Technical Perspective March 2, 2010 at 8:29 PM EUR/USD Current price: 1.3562 Back to past Asian session opening levels, pair has set a fresh low at the 1.4330 area, thus rebounded strongly from it. Hourly charts show pair indicators already exhausted to the upside, while price capped by the 1.3580 static resistance zone. Only above this last, pair could extend the upside movement while under 1.5330 area, pair should resume downtrend. 4 hours charts, show 20 SMA flat capping the upside, while a slightly bearish tone coming from indicators, FX Thoughts for the Day March 2, 2010 at 7:20 PM USD-CHF @ 1.0795/98...Holding Long R: 1.0844 / 1.0877 / 1.0909 S: 1.0800 / 1.0750-30 / 1.0700 After rising sharply and recording a high of 1.0889 during the day, Swiss has fallen once again and is now trading just above 1.08. Immediate Support is seen at 1.08, a strong break below which might pull it down towards 1.0750-30 in the US session today. However, the broader picture continue to remain bullish for a rise towards 1.0900-50 in the coming days. The significant levels to watch for on the The debt problem continues to be major issue to watch March 2, 2010 at 6:42 PM Market Comment S&P 500 futures closed above the 1112.75 resistance level today, which opens for a test of the 1128 level that is the break down level of the fall to 1040 earlier this year. The rumors that circulated Friday of a Greek bail out over the weekend proved to be nothing by rumors and the drive higher Friday in the Euro was short lived. Although we note that Euro held the key 1.3450 support level again today. The big mover today was the GBP that got sold off hard across the board Pushing Higher From 20/50 EMA Support..... March 2, 2010 at 6:18 PM No, we still haven't made it cleanly through S&P 500 1115 or the next area of strong resistance but at least we moved higher once the S&P 500 and the rest of the critical index charts tested their 50- and 20-day exponential moving averages from above. You don't want to see those captured levels get taken back by the bears thus it was put up or shut up time for the bulls and today they surely put up. A nice strong bounce off those 20's and 50's. Just what the doctor ordered. Volume was This email was sent to ananto.prihatmoko@gmail.com.  Create an Account Don't want to receive this feed any longer? Unsubscribe here This email was carefully delivered by Feed My Inbox. 230 Franklin Road Suite 814 Franklin, TN 37064