Brokers Short Term
EUR/USD
The remains in near-term consolidative mode, as 1.2934 proved to be solid support after being retested and holding for now, with brief attempt above 1.3000 barrier, signaling possible corrective action. Improved hourly studies support the notion, however, sustained break above 1.3000 and regain of minimum 1.3050/60 is required to confirm base and trigger fresh recovery. Otherwise, further weakness would be likely scenario, as 4h indicators hold in the negative territory and price action being capped by descending 20 day EMA.
Res: 1.3024, 1.3033, 1.3050, 1.3064
Sup: 1.2965, 1.2934, 1.2900, 1.2861
GBP/USD
Cable bounces off yesterday’s fresh low at 1.5276, following bearish extension below psychological 1.5300 support. Prevailing negative tone on ...
This week unlike the prior one had few economical data and reports released and therefore were a calm one for the world’s leading economy yet it revealed once again that the labor sector continues on recovering and is on the right track to continue on supporting U.S growth.
In fact within the middle of the week we watched the U.S. Labor Department reporting that people who filed for unemployment benefits in the last week dropped 4,000 to 323,000 claims, which is actually the lowest level in five years.
Knowing that analysts had called for a rise by 335,000, which indicates clearly and positively that employers have enough confidence in the U.S. economic outlook not to lay-off, having in mind the week before, claims increased by 324,000 and were revised to 327,000.
Now the four-week ...
Federal Reserve Chairman Ben Bernanke warned of lingering risks in wholesale funding markets that are used by Wall Street brokers to finance trading of securities as he spoke in a Chicago Federal Reserve press conference.
“Important risks remain in the short-term wholesale funding markets,” Bernanke said “One of the key risks is how the system would respond to the failure of a broker-dealer or other major borrower.”
Bernanke also underscored how the Fed has overhauled risk monitoring since the mortgage finance collapse triggered the worst recession since the 1900’s Great Depression.
“More work is needed to better prepare investors and other market participants to deal with the potential consequences of a default by a large participant in the repo market,” Bernanke said. He said that ...
EUR/USD
The Euro holds positive near-term tone after yesterday’s rally above hourly triangle resistance that peaked at 1.3192. Corrective easing has so far been contained by 20 day EMA at 1.3150 zone, near Fib 38.2% of 1.3070/1.3192 upleg. Indicators on 1 and 4h charts are in the positive territory that keep the upper boundary of near-term range at 1.3241 in focus, with initial barrier standing at 1.3200. On the downside, below 1.3150, next solid support lays at 1.3030, 50% retracement / previous high of 07 May and reinforced by 55 day EMA. Potential break here to weaken near-term structure
Res: 1.3192, 1.3200, 1.3217, 1.3241
Sup: 1.3150, 1.3130, 1.3100, 1.3085
GBP/USD
Cable remains steady, following yesterday’s test of levels near 1.5600 tops and subsequent pullback that ...
EUR/USD
The Euro remains in the range-trading mode, with slight improvement seen on a break above 1.3100 barrier, as near-term base has been established at 1.3060 zone. Hourly and 4h structure remains weak, however, fresh strength threatens break through 4h triangle resistance at 1.3120, along with recent highs at 1.3130 zone, also 50% of 1.3241/1.3032 that is required to further improve near-term tone for possible extension towards the range tops. Conversely, slide below 1.3100., would shift the focus lower and expose 1.3060/30, strong support zone.
Res: 1.3120, 1.3135, 1.3160, 1.3200
Sup: 1.3060, 1.3052, 1.3032, 1.3000
GBP/USD
Cable trades in a near-term corrective mode, following yesterday’s sharp fall that found temporary support at 1.5445/1.5603 upleg. As lower timeframes ...
EUR/USD
The Euro failed to sustain gains on yesterday’s rally through key 1.3200 barrier, as the price reversed lower after posting fresh high at 1.3240. Gains were capped by 50% retracement of larger 1.3710/1.2744 descend, with reversal below 1.3200 handle, softening near-term structure. The pullback found temporary support at 1.3150, 50% of 1.3053/1.3241 upleg and above trendline support / 61.8% / 20 day EMA at 1.3125. While above the latter, scope exists for fresh attempt at 1.3200, initial resistance and extension higher, as 4h structure is positive and favors further bulls, as a part of larger recovery from 1.2950. Conversely, loss of 1.3125 and psychological 1.3100, also 50% of 1.2950/1.3241, would signal top at 1.3241 and bring bears back to play.
Res: 1.3184, 1.3200, 1.3222, 1. ...
EUR/USD
The Euro extended recovery rally to briefly break above 1.3100 handle, however, gains were limited, as the price action was capped at 1.3115, failing to clear the barrier on repeated attempt. Pullback under 1.3100, could be seen as corrective, while price holds above 1.3050 zone, 50% of 1.2989/1.3115 upleg / 20 day EMA, as 4h indicators maintain positive tone, with higher low seen as good base for possible fresh attempt above 1.3100/15, to possibly open key 1.3200 barrier. From the other side, slide below 1.3050, would risk return to 1.3000 base and keep the near-term range top intact.
Res: 1.3100, 1.3115, 1.3127, 1.3142
Sup: 1.3069, 1.3050, 1.3030, 1.3000
GBP/USD
Cable enters corrective mode, following yesterday’s rally through 1.5500 barrier that reached 1.5544 high ...
EUR/USD
The Euro holds above 1.3000 but still directionless, moving within 1.2950/1.3100 range. Slight improvements seen on overnight’s gap-higher opening and upside aligned hourly studies, keep the immediate barrier at 1.3100 in near-term focus. Break above 1.3100, also 4h triangle resistance, would avert the downside risk, in favor of extension towards next barrier at 1.3127, 19 Apr high, to confirm near-term base at 1.2950 and possibly re-open key 1.3200 resistance. Psychological 1.3000 support keeps the near-term price action supported for now, with any penetration lower, to weaken the structure.
Res: 1.3076, 1.3092, 1.3127, 1.3142
Sup: 1.3030, 1.3000, 1.2987, 1.2950
GBP/USD
Cable maintains positive tone, as fresh gains through psychological 1.5500 barrier that kept last week’ ...
EUR/USD
The remains weak, following yesterday’s fall that cracked 1.3000 support and dipped to 1.2972, where the pair found temporary footstep at 50% retracement of 1.2744/1.3200 rally. With quiet overnight trading, concentrated around 1.3000 handle, near-term focus is shifted towards the downside, as 1 and 4h studies hold negative tone and daily diamond pattern has been completed. Penetration through 1.2972 would look for another significant support zone at 1.2930/20, 200 day MA / Fib 61.8% retracement. The upside is seen capped at 1.3080/1.3100, while clearance of 1.3130 barrier would turn focus towards the upside.
Res: 1.3027, 1.3050, 1.3083, 1.3100
Sup: 1.2972, 1.2930, 1.2918, 1.2900
GBP/USD
Cable continues to trade within 1.5200/1.5300 range, as yesterday’s fresh attempt ...