The Euro is giving mixed signals in its trading. The current state of action by the Euro is relatively reasonable after a severe rally to the upside. Couple of circumstances is however holding the Euro from appreciating further. First off, Moody’s Rating Agency has warned that it may downgrade Portuguese credit standing in near term future. The current problem which may result in a

Euro recovery from 1.3420 low at European opening times, has been capped at 1.3525 session high, and the pair's pullback has extended to 1.3440 area immediately after the release of better than expected US Initial jobless claims.

The EURUSD slipped above 1.3500 yesterday, topped at 1.3537 but closed lower at 1.3455. The bias is neutral in nearest term. Overall we are still in short term bullish phase and in critical point of medium term outlook where a consistent move above 1.3500 would be a beginning of a technical bullish reversal outlook at least testing 1.3800, but so far, that bullish scenario is not confirme

The Euro continued trading higher on Tuesday after the daily forex news showed that U.S Housing Starts had dropped more than expected to 529K, versus an expected 550K, a decline of over four percent and the lowest reading since October 2009.The number was offset somewhat by U.S. Building Permits, which increased to 640K considerably better than the consensus of 560K.Nevertheless, the large i

GBP/USD  as of Wednesday (1/19/2011) has continued its consistently and dramatically bullish stance that has been in place since the beginning of the year. During the course of this bullishness, price action launched off its key 1.5350 support base and then broke out cleanly above a bullish descending wedge pattern before shooting for 1.5900 resistance. After that resistance bar

EUR/USD rises further to as high as 1.3537 in early US session and the break of 1.3496 resistance indicates that fall from 1.4281 has completed at 1.2873 already. Note that the corrective three wave structure of the fall, with 1.2643 support intact, will indicate that rebound from 1.1875 is possibly not over yet Intraday bias is on the upside for 1.3785 resistance first and then a test

The EUR/JPY is clumsy to consolidate to the boarded of 111.00 today, briefly affecting aloft on assorted occasions but always axis beneath already again. Since the alpha of the NY session, the brace has alone added than 30 pips and trades abreast a affair low of 110.65.

Immediate abutment for the EUR/JPY includes 110.33 (today low), 110.00 (psychological level) and 109.57 (Daily Low

EUR/USD has been trading continually higher after testing trend line support on January 10th. With the session high of 1.3506, the pair re-tests the December 14th high which has not seen a close higher since November 22nd. A close above this level may be a bullish signal for the pair in which case the next topside target on the daily perspective would be 1.35565; an old sup

The euro reversed early losses against the pound on Tuesday, rebounding from a three day low, on buying by sovereign funds and after a report showing that German investor confidence jumped to a six-month high in January.

EUR/GBP clawed back up from 0.8332, the pair’s lowest since last Thursday, to hit 0.8374 during European afternoon trade, gaining 0.08%.

The p

Euro retreat from one-month high at 1.3455, found support at 1.3240 low on Monday, and, after another pullback to 1.3250 on early Asian session, the pair has squeezed higher to reach session highs at 1.3370 ahead of Frankfurt opening.

on the upside, the pair could find resistance at 1.3400 (intra-day high) and 1.3455 (Jan 14 high) and then 1.3500 (Dec 14 high). On the downside

GBP/USD  [STRATEGY] BUY AT 1.5785 FOR A [1.5935] INITIAL OBJECTIVE, STOP AT (1.5715).

Potential for churning near term as market consolidates last weeks gains. However dips should be well supported by 1.5780/19 area. Above 1.5911/35 takes aim at 1.5965 next ahead of 1.5999.

Chart: EURUSD

Last week's weak close near the lows is followed up by this week's strong close. The key resistance at the 11-week (55-day) moving average is still in place, though one can also say that the attempt to break below the 200-day (40-week) moving average failed this week. Needless to say, this chart appears very much in limbo. Bulls can argue that we are

The week ending January 14 saw the euro post its biggest weekly gain against the U.S. dollar in more than two years as the single currency was pushed higher by strong debt auctions and unexpected remarks by the president of the European Central Bank.

EUR/USD hit 1.3456 on Friday, the pair’s highest since December 14; the pair subsequently consolidated at 1.3386 by close o

The week ending January 14 saw the pound close more than 2% higher against the U.S. dollar, pushed higher by escalating interest rate hike expectations and steady purchasing by Asian central banks.

GBP/USD hit 1.5855 on Friday, the pair’s highest since December 14; the pair subsequently consolidated at 1.5867 by close of trade on Friday, jumping 2.18% over the week.

USDJPY: As long as USDJPY continues to hold above the 82.33 level, we look for a return above the 83.65 level to occur. Beyond there will pave the way for a run at the 84.50 level, its Dec 15’20 high with a violation of that level turning attention to the 85.92 level, its Sept 12’10 high.