Intraday Update for EUR/USD, EUR/GBP and GBP/USD

[andy003]

Avafx Intraday Recommendations

Hello traders
Here's the Intraday update and recommendations for currency couples EUR/USD,EUR/GBP,GBP/USD from my broker AvA FX
25th March 09, Wednesday

EUR/USD intraday: rebound expected.
Pivot: 1.3415
Our preference: Long positions above 1.3415 with targets @ 1.352 & 1.358 in extension.
Alternative scenario: Below 1.3415 look for further downside with 1.333 & 1.33 as targets.
Comments: the pair is rebouding on its channel lower boundary, the RSI is turning up.

EUR/GBP intraday: under pressure.
Pivot: 0.925
Our preference: Short positions below 0.925 with targets @ 0.9145 & 0.9096 in extension.
Alternative scenario: Above 0.925 look for further upside with 0.9285 & 0.932 as targets.
Comment: the RSI is turning down, the pair is challenging its intermediary resistance and should face a weakness.


GBP/USD intraday: the downside prevails.
Pivot: 1.47
Our preference: Short positions below 1.47 with targets @ 1.455 & 1.4485 in extension.
Alternative scenario: Above 1.47 look for further upside with 1.478 & 1.485 as targets.
Comment: the RSI has broken below its rising trend line, the pair should face a weakness.

 

[andy003]

AVAFX Intraday Update for the Day


Hello there all traders
This is the daily intraday update from my broker AVAFX
For currency couples EUR/USD and GBP/USD
26th March 09, Thursday

EUR/USD intraday: continuation of the rebound.
Pivot: 1.35
Our preference: Long positions above 1.35 with targets @ 1.365 & 1.374 in extension.
Alternative scenario: Below 1.35 look for further downside with 1.342 & 1.333 as targets.
Comments: the RSI is still supported by a rising trend line, the pair is on the upside and is challenging its channel upper boundary.


GBP/USD intraday: intraday support around 1.451.
Pivot: 1.451
Our preference: Long positions above 1.451 with targets @ 1.4655 & 1.478 in extension.
Alternative scenario: Below 1.451 look for further downside with 1.445 & 1.439 as targets.
Comment: the pair is challenging its LT rising trend line, the RSI is mixed and calls for caution.

 

[andy003]

AVAFX Intraday Update and Recommendations

AVAFX Intraday Update and Recommendations for EUR/GBP & GBP/USD

Hello all traders
Here's the Intraday Preferences from forex broker Avafx

26th March 09,Friday

EUR/GBP intraday: the upside prevails.
Pivot: 0.933
Our preference: Long positions above 0.933 with targets @ 0.9385 & 0.9425 in extension.
Alternative scenario: Below 0.933 look for further downside with 0.93 & 0.928 as targets.
Comment: the RSI is well directed, the pair is on the upside and is challenging its resistance.


GBP/USD intraday: under pressure.
Pivot: 1.4565.
Our Preference: SHORT positions @ 1.4555 with 1.439 & 1.433 as next targets.
Alternative scenario: The upside penetration of 1.4565 will call for a rebound towards 1.464 & 1.4735.
Comment: the RSI is on the downside, the pair should strike against its new resistance and face a down move towards its next support.
Trend: ST Consolidation; MT Bearish

 

[andy003]

AVAFX Forex Intraday Recommendations

AVAFX Intraday Technical Analysis for EUR/GBP, GBP/USD &
EUR/USD

Hello all traders
Here's the Daily Forex Intraday Preferences from forex broker Avafx

30th March 09,Monday

EUR/GBP intraday: caution.
Pivot: 0.935
Our preference: Short positions below 0.935 with targets @ 0.928 & 0.925 in extension.
Alternative scenario: Above 0.935 look for further upside with 0.9375 & 0.94 as targets.
Comment: the RSI is approaching its MT declining trend line, the pair should strike against its resistance.

GBP/USD intraday: the downside prevails.
Pivot: 1.4275
Our preference: Short positions below 1.4275 with targets @ 1.4075 & 1.3975 in extension.
Alternative scenario: Above 1.4275 look for further upside with 1.436 & 1.442 as targets.
Comment: the RSI is bearish and advocates for further decline, the pair has broken below its MT bearish channel lower boundary and remains under pressure.

EUR/USD intraday is under pressure.The currency pair remains still pressure and could face a further weakness as the RSI is turning down.
Pivot: 1.325
Preference is to short positions below 1.325 with targets @ 1.3065 & 1.297 in extension.
Alternatively,Above 1.325 traders can look for further upside with 1.332 & 1.342 as targets.

 

[andy003]

Avafx Intraday Recommendations

Avafx Intraday Recommendations
Hello all traders
This is the intraday Technical Analysis from Forex Broker AVAFX
For the Currency Pairs EUR/USD & EUR/GBP
31st March 09, Tuesday

EUR/USD intraday: caution.
Pivot: 1.332
Our preference: Short positions below 1.332 with targets @ 1.3175 & 1.3115 in extension.
Alternative scenario: Above 1.332 look for further upside with 1.342 & 1.35 as targets.
Comments: the pair stands within a ST bullish channel but the upside potential should be limited by the next horizontal resistance.

EUR/GBP intraday: continuation of the rebound.
Pivot: 0.9225
Our preference: Long positions above 0.9225 with targets @ 0.935 & 0.9375 in extension.
Alternative scenario: Below 0.9225 look for further downside with 0.92 & 0.9175 as targets.
Comment: the pair and its intraday RSI have broken above their MT declining trend lines and should post further bounces.

 

[Pinalli]

USD

The Dollar rallied on Monday as news of possible bankruptcy at US automakers, General Motors and Chrysler sent investors into the currency markets seeking the safe-haven USD and Japanese Yen. When times get tense in the financial world it is common for investors to pull their money from higher yielding, higher risk investments and pick up the US and Japanese currencies – viewed as more stable and resistant to losses as other investments.

At 5PM GMT, the Dollar was up 1.08% to the Euro at 1.3142, up 1.14% to the Pound to 1.4157, up 1% to the Canadian Dollar to 1.253, up 2.18% to the Australian Dollar to .6788 and up 1.7% to the Kiwi to .5602.

EUR

The Euro was down broadly as news emerged that Spain was forced to take over a regional bank once thought to be stable. This added to the selling already underway as investors braced for another interest rate cut by the European Central Bank, a move that is expected to bring the core rate down to 1%.

At 5:10 GMT, the Euro was down .1% to the Pound at .9271, down 2.15% to the Japanese Yen to 127.26, down ¼% to the Canadian Dollar to 1.6464, down ½% to the Swiss Franc to 1.5144 and up 1% to the Australian Dollar to 1.933.

 

[andy003]

Avafx Forex Intraday recommendations

Thanks for the update Pinalli. All members are welcome to contribute in the thread.


Fx Trading preferences from Forex Broker Avafx
For GBP/USD & EUR/USD
6th April,09 Monday

GBP/USD intraday: the upside prevails.
Pivot: 1.4825.
Our Preference: LONG positions @ 1.4835 with 1.4985 & 1.505 as next targets.
Alternative scenario: The downside breakout of 1.4825 will open the way to 1.477 & 1.469.
Comment: the pair remains well directed and does not show any reversal sign, the RSI is on the upside.
Trend: ST Consolidation; MT Bearish

Key levels Comment
1.511** Intraday resistance
1.505** Intraday resistance
1.4985** Intraday resistance
1.4932 Last
1.4825** Intraday pivot point
1.477*** Intraday support
1.469*** Intraday support


EUR/USD intraday: bullish bias above 1.3475.
Pivot: 1.3475.
Our Preference: LONG positions @ 1.3485 with targets @ 1.3595 & 1.3675.
Alternative scenario: The downside breakout of 1.3475 will open the way to 1.342 & 1.3365.
Comment: the pair is challenging its resistance and should face a pull back on its support ahead of a new up move.
Trend: ST Ltd Upside; MT Bullish

Key levels Comment
1.375** Intraday resistance
1.3675*** Intraday resistance
1.3595** Intraday resistance
1.3558 Last
1.3475** Intraday pivot point
1.342** Intraday support
1.3365*** Intraday support

 

[andy003]

Avafx Forex Intraday Report


Avafx Online Fx Trading recommendations

For Currency pairs EUR/USD,GBP/USD & EUR/GBP
7th April,09 Tuesday

EUR/USD intraday: under pressure.
Pivot: 1.335
Our preference: Short positions below 1.335 with targets @ 1.325 & 1.3175 in extension.
Alternative scenario: Above 1.335 look for further upside with 1.342 & 1.3475 as targets.
Comments: the pair has broken below its rising trend line and is approaching its next support, the RSI is badly directed.



GBP/USD intraday: the downside prevails.
Pivot: 1.47
Our preference: Short positions below 1.47 with targets @ 1.459 & 1.4515 in extension.
Alternative scenario: Above 1.47 look for further upside with 1.4775 & 1.4845 as targets.
Comment: the pair is breaking below its MT rising trend line, RSI is on the downside.

 

[Pinalli]

USD

The US Dollar rose sharply on Monday as investor sentiment towards an economic recovery turned negative. As stock markets fell, investors took their money and fled back to the safe-haven, greenback. Things turned around quickly on hopes of an economic recovery after billionaire investor George Soros was quoted as saying that the "banking system as a whole is basically insolvent" which echoed the feelings of many analysts who question the use of government funds to sustain dying companies. Mr. Soros also said that the US economy in particular was in for a "long lasting slowdown" and was pessimistic over the potential for a turnaround this year and perhaps not even next.

At 9PM GMT, the USD was trading up .7% to the Euro to 1.3408, up .9% to the GBP to 1.4741, up.7% to the Canadian Dollar to 1.2381, up .25% to the Aussie to .7133 and up .5% to the Swiss Franc to 1.1366.

YEN

The Japanese Yen was volatile today as investors were caught trying to figure out what to do with the currency of the worlds second largest economy. Fears about a prolonged global slowdown would normally drive the safe-haven Yen up, however the Japanese currency is so tied to the global economy through trade and manufacturing that many are questioning the viability of the currency in the long term. To meet this point, the Yen hit two distinct milestones today.

As of 9:30PM GMT, the Yen was trading down 3/4% to the US Dollar to 101.05, it went as low as 101.45, the lowest point it had been against the dollar in half a year. The move above 101.00 Yen is technically significant with a major psychological significance as well. The Euro rose to the strongest level in over five months to the Yen when it hit 137.43 earlier Monday, at last check the Euro had fallen off that level but was up .3% to 135.67. We highlight the EUR.JPY in our chart below.

Something To Think About

The US spending of late has reached 12.5 Trillion Dollars, almost 100% of the US GDP. Basic economic theory holds that spending over 30% of GDP can spur inflation - with anything over 50% bringing about hyper-inflation - think Zimbabwe.

In his comments on Monday, George Soros said that he also believed there will be a strong move to replace the US Dollar as the global reserve currency. He said it was reasonable to assume the International Monetary Fund's Special Drawing Rights (SDR's) will be the reserve of the future. This move will come as massive government debt becomes a detractor for the US Dollar.

 

[andy003]

GBPUSD rebounds sharply from 1.4397 and breaks above 1.4708 key resistance, suggesting that a short term cycle bottom has been formed at 1.4397 level on 4-hour chart. Further rally could be seen to 1.4850-1.4900 area in a couple of days. Near term support is at 1.4575, only fall below this level will take price back to retest 1.4397 support.

 

[andy003]

GBPUSD regains keenly from 1.4397 and had a break above 1.4708 resistance, it will be better to that a short term cycle bottom has been created at 1.4397 levels on 4-hour chart. Near term support is at 1.4575, only fall below this level will acquire price back to 1.4397 supports.

 

[andy003]

The Pound (GBP/USD) is re-testing the low reached on Friday, after it turned down 70pips tonight. Also, some disputed that the BoE occurred in the currency market during the last week to maintain the pound’s value. A number of foreign ministers have just complained the pounds weaken.

 

[andy003]

There is also a triangle formation, suggesting consolidation. Short term signals are neutral. The trading range is likely to be between 1.4520 and 1.4740 today. The CCI indicator is in the neutral zone on 3 charts - 1, 4 hour, and daily.
Technical resistance levels: 1.4730 1.4825 1.4960
Technical support levels: 1.4520 1.4400 1.4250

Trading range: 1.4685 - 1.4750
Trend: Upward
Buy at 1.4699 SL 1.4669 TP 1.4739

 

[andy003]

If you have seen the charts, there is no trade configuration. The actual configuration is not clear enough to follow the trend.
Resistances
1,3340 - 1,3395
Supports
1,3235 - 1,3090

 

[tradingtips01]

Hello

UR/USD

. Dollar weakness drives EUR/USD higher
. US recovery and strong influx of foreign demand will send EUR/USD lower
USD/JPY

. Japanese government intervention to weaken their currency sends USD/JPY higher
. Gains in Nikkei and demand for Japanese assets drive USD/JPY down
GBP/USD

. High yield and attractive growth in the UK drives GBP/USD higher
. Speculation about UK adopting the euro will send the GBP/USD lower
USD/CHF

. Global stability and global recovery will send USD/CHF higher
. USD/CHF rallies on geopolitical instability
EUR/CHF

. Swiss government uses verbal intervention to weaken the franc, sending EUR/CHF higher
. If inflation took off in Germany and France it could drive EUR/CHF lower
AUD/USD

. Rising commodity prices sends AUD/USD higher
. Drought hurts Australian economy and AUD/USD
USD/CAD

. Canadian economic underperformance against US sends USD/CAD higher
. Higher interest rates and rebounding labor market in Canada will help to drive USD/CAD lower
NZD/USD

. Increased tourism and migration into New Zealand drives the NZD/USD higher
. Weakness in the Australian dollar sends the NZD/USD lower
EUR/GBP

. Speculation about UK adopting the euro will send the EUR/GBP higher
. Faster UK growth over Eurozone growth will drive EUR/GBP lower
EUR/JPY

. Fears of Japanese banking crisis will send EUR/JPY higher
. Eurozone recession will drive EUR/JPY lower
GBP/JPY

. Interest rate hikes by the Bank of England will send GBP/JPY higher
. Strong demand for Japanese assets will drive GBP/JPY lower
CHF/JPY

. Middle East conflict and volatility in oil prices will drive CHF/JPY higher
. Geopolitical stability will send CHF/JPY lower
GBP/CHF

. Interest rate hikes by the Bank of England will send GBP/CHF higher
. Speculation about UK adopting the euro will send the GBP/CHF lower
EUR/AUD

. Recessionary conditions in Australia would send EUR/AUD higher
. Rising commodity prices would boost EUR/AUD lower
EUR/CAD

. German economic rebound and Canadian weakness will send EUR/CAD higher
. Canadian economic strength and German weakness will send EUR/CAD lower
AUD/CAD

. Rate hikes by the Reserve Bank of Australia will drive AUD/CAD higher
. Droughts hurt Australia's domestic economy and will send AUD/CAD lower
AUD/JPY

. Japanese investment in Australia will drive AUD/JPY higher
. Falling commodity prices hurt Australia's economy, sending AUD/JPY lower
NZD/JPY

. External shocks to Asian tourism such as SARS and North Korea risks will send NZD/JPY higher
. Decline in immigration will hurt New Zealand's growth prospects and send NZD/JPY lower
CAD/JPY

 

[tradingtips01]

Currency couple GBP/USD

Let's talk a moment about GBPUSD. We want to see how we are going to trade this for the long term before we really get into the trades.
Looking at the chart we notice that this pair is in a long term uptrend. It starts at the beginning of March this year and has been climbing up since. It has moved over 3000 point and it will continue to move. We expect to capture another 1000 to 2000 points on this pair.