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[Leobrfx]

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[Leobrfx]

EURUSD Daily Forecast: August 20
The EURUSD had a bullish momentum yesterday, topped at 1.4266 and closed at 1.4234. On h4 chart below we can see that the price is struggling around upper line of the bearish channel indicating a critical technical point. Surely the trendline support has been proved as a strong support preventing further bearish attack, but the upper line of the bearish channel, (which also a trendline resistance) still hold so far and not convincingly violated to the upside yet. From this perspective, actually we have no winner yet so don’t rush buying the Euro now. Immediate support at 1.4180/50 support area. Break below that area should trigger further bearish momentum back towards 1.4050 area. Initial resistance at 1.4270. Break above that area and consistent move above the trendline resistance (upper line of bearish channel) should trigger further upside pressure testing key level 1.4336 and could be a potential threat to my bearish reversal scenario.
GBPUSD Daily Forecast: August 20
The GBPUSD had indecisive movement yesterday. The pair attempted to push lower, bottomed at 1.6374 but whipsawed to the upside, closed higher at 1.6536. On h4 chart below we can see that the price is now testing the upper line of the bearish channel and 38.2% Fibo retracement area (of 1.7042 – 1.6274) around 1.6570. A violation to the upside of the bearish channel and consistent move above 1.6570 should trigger further bullish momentum re-testing 1.6660 area (50% Fibo retracement of 1.7042 – 1.6274). As long as the pair stay below 1.6660 I still prefer a bearish scenario. UK economy outlook remains pessimistic and BoE decision to expand Quantitative Easing program can’t be too good for the Sterling. So any upside momentum should be very limited at this phase. I prefer to stay out for now. Immediate support is seen at 1.6470. Break below that area should trigger further bearish momentum back towards 1.6350

[Leobrfx]

24/AUG/2009 GBPUSD
Unable to break above 1.6561
The british pound fails to break above 1.6561 resistance level last week and this is the 2nd week that the cable tries to break above that level but without any chance. The pair was trading in a tight range between 1.6561 resistance level and 1.6431 support level for the past two weeks without breaking any of these levels till now ,We have to watch these two levels carefully this week as we believe that there is a chance to start seeing some new trends in the market this week . The main bias remain negative Stochastic Oscillators is pointing to the downside again While relative strength index is flat at the moment. The general trend still down as far 1.7500 remain intact. Daily target at 1.6431 while long term target 1.3500

EURUSD
Breaking above 1.4303 but 1.4362 holds The Euro continue to spike up last week breaking above 1.4303 which represent a solid resistance level in the meantime .The pair continues its way testing 1.4362 resistance level too but without any clear break or a daily close or 4 hour candle above that level till now closing the week clearly under that level too This week we have to watch these levels closely as we believe that there is a chance that the pair will start a new trend as there is a strong fundamental are controlling the markets The main bias remain negative Stochastic Oscillator is heavily over bought and flat at the same time. While relative Strength Index is flat at the moment. The general trend is down as far as 1.5210 remain solid. Daily target at 1.4263 while long term target stays at 1.2000

[Hooya]

Have added www.4xp.com to my Best Forex Brokerslist.

[Leobrfx]

EURUSD Forecast: 27/08
The EURUSD had a bearish momentum on mixed economy data yesterday. We had a positive numbers on US Durable Good Orders and New Home Sales but Stocks and oil dropped and Dollar got some support on weak Core Durable Goods Order. The better-than-expected Germany Ifo Business climate didn't give much support for the Euro. The pair bottomed at 1.4205 and closed at 1.4240. On h1 chart below we can see that the rectangle area (range area) has been violated to the downside suggesting potential bearish pressure in nearest term as the price is now testing the lower line of the bullish channel and 50% Fibo retracement of 1.4044 - 1.4375 around 1.4210 area. That area should provide a good support at this phase but a clear break below that area should lead us back into 1.4170 even 1.4050 area. Immediate resistance is seen at 1.4250/80 area. Break above that could trigger further bullish momentum towards 1.4375 area.
http://blog.fxinstructor.com/wp-cont...usdhourly6.jpg
GBP/USD Daily
The GBPUSD continued it's bearish momentum yesterday, bottomed at 1.6158 and closed at 1.6230. On h4 chart below we can see that the pair slipped below the lower line of the bullish channel (the same bullish channel I showed you on daily chart yesterday) but price retreated to the upside and now struggling around the bullish channel lower line. The bias remains bearish in nearest term but we need a consistent move below the lower line of the bullish channel for more bearish confirmation targeting 1.6050 area. CCI in oversold area and heading up on h4 chart so watch out for potential upside rebound testing 1.6280. Break above that area should trigger further bullish momentum and lead us into no trading zone.
http://blog.fxinstructor.com/wp-cont...sd4hchart6.jpg

[Leobrfx]

EURUSD 2/Sept/2009
The European currency finally broke below 55 days moving average yesterday after it fails to break through 1.4367 major resistance level which I mention about it in my previous reportsThe pair breaks through many support level which stands at 1.4255 and 1.4217 closing yesterday below these two levels . Today the pair starts its trading with a small up move but on other hand it built a reversal candle on 4 hour chart for now, we have to keep an eye on it and I do think that there is a chance to see a break of 1.4178 very soon . The main bias remain negative. Stochastic Oscillator is overbought and flat at the same time . While relative Strength Index is flat likely to the upside. The general trend is down as far as 1.5210 remain solid . Daily target at 1.4178 while long term target stays at 1.2000
Resistance 1.4308 1.4347 1.4410 1.4480
Supports 1.4263 1.4207 1.4125 1.4070
2/Sept/2009 GBPUSD 1.6060 In sight
As expected, the British pound fall back down yesterday after it fails to break out of the downtrend channel testing 55 days moving average but without any chance . As we can see on the chart above, the pair back in the down trend channel and it finally breaks another major support which stands at 1.6194 and closes yesterday under that level . As I mentioned before in my last reports I still see the markets is topping and September will be the worst month even in the year of 2009 . Now I think that 1.6060 support level is in sight as an initial target for today .The main bias remain negative. Stochastic Oscillators is overbought and flat at the same time . While relative strength index is pointing to the downsides. The general trend still down as far 1.7500 remain intact. Daily target at 1.6060 while long term target 1.3500 .
Resistance 1.6278 1.6365 1.6410 1.6500
Supports 1.6180 1.6125 1.6090 1.6060

[Leobrfx]

EURUSD Weekly Summary: Remains Consolidating, Waiting for a Breakout;
The EURUSD made another indecisive weekly movement this week, formed a Doji on weekly chart. On daily chart below we can see that the pair still trapped in range area of 1.4405 - 1.4180. We need a break from the range area to have a clearer view whether we will have bullish continuation or a bearish reversal scenario. Here are three potential scenarios for the upcoming week:
Bullish continuation scenario: If we have a breakout above 1.4405/46, that would be a bullish continuation scenario confirmation, targeting 1.4719 area (December 18 high).
Bearish reversal scenario: If we have a break below 1.4180 and trendline support (blue), that would be a bearish reversal scenario confirmation targeting 1.3750 area.
Range Trading: Even after some important economic data from the Euro zone and US, the pair still trapped in the range area. In my opinion, with the lack of significant economic data from the Euro zone next week, it is more likely that the pair still trapped in the range area. So, the best trading strategy in range market is to buy near the lower line/support (1.4180) or to sell near the upper line/resistance (1.4405/46) with a very tight stop loss.
Have a great weekend and see you guys next wee.
http://blog.fxinstructor.com/wp-cont...usdsummary.jpg

[akuriez]

discussing forex http://discussingforex.blogspot.com/

[Leobrfx]

EUR/USD Daily Forecast Wed, 09th of September, 2009
As you can see on h4 chart below, after trapped in range area for two weeks, the EURUSD finally breakout from the range area, topped at 1.4534 (the highest level in 2009) and closed at 1.4493 yesterday. For me this is nothing but a bullish confirmation targeting 1.4719 (December 18 high) in longer term. The bias is bullish in nearest term targeting 1.4590 area. However, CCI in overbought area and heading down on h4 chart so watch out for potential downside rebound testing 1.4446 support area (former resistance). Break below that area should lead us into no trading zone as the direction would become unclear.
http://blog.fxinstructor.com/wp-cont...sd4hchart4.jpg
GBP/USD
The GBPUSD had a significant bullish momentum yesterday. On h4 chart below we can see that the pair break convincingly above the trendline resistance (yellow, now become support), topped at 1.6586 but closed lower at 1.6500. The new bullish channel (blue) indicating a bullish scenario. The bias is bullish in nearest term targeting 1.6640 area. However CCI in overbought area and heading down on h4 chart so watch out for potential downside pullback testing 1.6480/30 area. Break below that area should lead us into no trading zone.
http://blog.fxinstructor.com/wp-cont...sd4hchart3.jpg

[Leobrfx]

EUR/USD Daily 14 th of September, 2009
The EURUSD made indecisive movement on Friday indicating consolidation after some bullish momentum. On daily chart below we can see that the pair still moving in a bullish channel but price retreat lower around the upper line of the bullish channel. I think the pair is in potential downside correction phase, testing 1.4446 support area. Break below that area should trigger further downside correction towards the bullish channel lower line. Only a violation the the bullish channel should be seen as bullish failure. Immediate resistance at 1.4633 area (Friday's high). Break above that area should trigger further bullish momentum towards 1.4719. CCI in overbought area and heading down on daily chart suggesting potential downside pressure.
http://blog.fxinstructor.com/wp-cont...rusddaily1.jpg
Gbp/Usd.
The GBPUSD attempted to push higher on Friday, topped at 1.6740 but whipsawed to the downside and closed lower at 1.6655, which is also the open price of the day, formed a Doji on daily chart. Like I already showed you on Saturday, the hanging man candlestick formation could lead us to some downside correction testing 1.6593 and 1.6500 ( 23.6% and 38.2% Fibo retracement of 1.6113 - 1.6740) support areas. Only a violation to the bullish channel could be seen as bullish failure. Immediate resistance at 1.6740 (Friday's high). CCI just cross the 100 line down on h4 chart suggesting potential downside rebound.
http://blog.fxinstructor.com/wp-cont...sd4hchart8.jpg