FXstreet.com: Technical

The week in few words

support@forexsurvivor.com (ForexSurvivor) — Fri, 21 Nov 2008 18:31:37 GMT

1 minute with ForexSurvivor A. (21 November US) Latest Impact: The week in few words This week was a no way to go with any dollar invested, no trend, no sustainable rallies, lots of false breaks, and high volatility, all of no more a concern – we adapted to the new environment of low volume that will last for many months. Next week highlights Thanksgiving Day and banking

Currencies also sidelined although some Yen crosses dipped below October's low

Nicole.Elliot@mhcb.co.uk (Mizuho Corporate Bank) — Fri, 21 Nov 2008 14:39:46 GMT

Overview More investors and different markets are reacting to the ‘credit crunch’ and are beginning to really understand the ramifications of unwinding the ‘carry trade’. Central bankers are coming round to the fact that a ‘zero interest rate policy’ is probably warranted, maybe ‘quantitative easing’ as well, and in a surprise move Switzerland halved their target rate to 1.00% from 2.00%. The rush into Treasuries continues, the yield on three-month TBills dropping to just 1 basis point,

Currency Majors Technical Analysis

forex@mataf.net (Mataf.net) — Fri, 21 Nov 2008 14:00:06 GMT

American Session EUR/USD - Euro Dollar 1,2584. EUR USD moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility is high. ForexTrend 4H, daily (Mataf Trend Indicator) is in a bearish configuration. The price should continue to move in 1,2430 / 1,2690 range. We won't take a position. Resistances 1,2620 - 1,2690 Supports 1,2485 - 1,2430 more information on EUR/USD - Euro Dollar Click Here GBP/USD - British Pound Dollar 1,4993. GBP USD broke 1,4890

Matsys D Trade Signals

info@fxwintrades.com (Fxwintrades) — Fri, 21 Nov 2008 13:46:54 GMT

Mid-Day Forex Technical Report - Dollar and Yen Continue to Retreat as Improved Sentiments

contact@actionforex.com (ActionForex.com) — Fri, 21 Nov 2008 13:12:58 GMT

Action Insight Mid-Day Report Dollar and Yen Continue to Retreat as Improved Sentiments Economic data takes a back seat again today as investors sentiment turned follow the speculations of Citigroup's sale. Asian stock markets shrugged off a lower open and rebounded strongly. The strength carried on to European markets which could pass on to the US markets too. Dollar and yen retreat from yesterday's rally following rebound in the stock markets. Though, from a short term point of view, the up

EURUSD: Break Out Of The Symmetrical Consolidation To Triangle Seen

m.isah@fxtechstrategy.com (FXTechstrategy) — Fri, 21 Nov 2008 12:05:06 GMT

HIGHLIGHTS: EURUSD: Break Out Of The Symmetrical Consolidation To Triangle Seen - While EUR remains trapped in its triangle pattern as well as the 1.2330 and 1.3298 levels, break out of the mentioned triangle continues to dominate the pair’s price action... USDCAD: Looks To Take Out The 1.3018 Level -Our call for a return to the 1.3018 level, representing its YTD high continues to pan out Thursday with further strength pushing the pair through the 1.2379 levels, its Oct 31’08 high and its Nov

USD Buoyed Again

info@swissetrade.com (Swiss e Trade AG) — Fri, 21 Nov 2008 11:32:41 GMT

After some minor downward correction yesterday, the dollar traded more strongly versus the major pairs during all of Asian trading, especially against the Swiss franc where a 100 basis points cut in interest rates weakened the CHF against the euro as well. The Greenback was given additional support by oil prices dropping below $50 / barrel. Short term in overbought condition now, the USD started a downward correction in early European trading, which might well continue in today’s trading

Forex - Currency market remains nervous about $25 billion automakers request

support@ac-markets.com (ACM - Advanced Currency Markets) — Fri, 21 Nov 2008 11:20:29 GMT

Forex News and Events: The Dollar dropped against Yen on Thursday, pushed by Wall Street's plunge as fears of a worldwide downturn that was much deeper than initially thought made investors shift in the safer assets. Meanwhile, Dollar and Yen rose against the Euro and other high yielding currencies as investors sold risky assets such as stocks and commodities financed by loans denominated in the Dollar and the Japanese unit. Currency investors continued to track movements in the US stock

EUR/USD

fxquestions@forex-trends.com (Forex-Trends.com) — Fri, 21 Nov 2008 10:58:37 GMT

EURUSD is trying hard to be on the positive side, but every time there is no luck. And todays another attempt could be good opportunity for bears. To encourage the bulls price should firmly present itself above negative trend line. For a moment we are still in the negative territory.

US Dollar Shows Stability as Economy worries Grow

support@finotec.com (Finotec Group Inc.) — Fri, 21 Nov 2008 10:33:41 GMT

The greenback and yen rose against the euro and currencies of nations with high interest rates, like the Australian and New Zealand dollars, as investors sold risky assets such as stocks and commodities financed by loans denominated in the U.S. dollar and the Japanese unit. Currency investors continued to track movements in the U.S. stock market, with the S&P 500 index sliding to an 11-1/2 year. The Dollar is trading around the levels of 1.2540 against the Euro, around the levels of 95.05

Base metals remain under pressure

piet.lammens@kbc.be (KBC Bank) — Fri, 21 Nov 2008 10:08:06 GMT

Headlines WTI slips below 50$/b level Lower gold price attracts interest

Stop taken in short EUR/CHF - raise stop in long GBP/CAD

danskeresearch@danskebank.com (Danske Bank A/S) — Fri, 21 Nov 2008 10:10:57 GMT

- We recommended three FX strategies earlier this week, see FX Strategy: Go short EUR/USD, EUR/CHF - long GBP/CAD, 18 November - The stop has been met in our short EUR/CHF recommendation and we are taking a loss of 1.32% (including carry). - The CHF weakened after the SNB's surprising 100bp rate cut but it was not before early this morning the pair saw a short-lived spike, triggering our stop. - We still believe that EUR/CHF will adjust downwards but prefer to stay on the sidelines as long as

Currency Technical Report

trading@fxgreece.gr (FXGreece) — Fri, 21 Nov 2008 09:49:24 GMT

Resistance: 1,2560/ 1,2600-10/ 1,2650/ 1,2690-2710/ 1,2755/ 1,2800-10/ 1,2865/ 1,2930 Support : 1,2480/ 1,2430/ 1,2390-00/ 1,2330-50/ 1,2280 Comment : Euro’s consolidation continues and the outlook remains the same during November. The rise in the beginning of the Us session met bears at 1,2600, who led euro to the ranges of the consolidation. Bulls gained momentum in these level, as expected. There is nothing new to add to our previous analysis. The Bollinger Bands in the 4 hour chart are

Eurodollar Future – Dec 2008

Nicole.Elliot@mhcb.co.uk (Mizuho Corporate Bank) — Fri, 21 Nov 2008 09:40:49 GMT

Comment: The message is sinking in and investors are moving out along the Treasury yield curve, benchmark thirty-year yields collapsing by 82 basis points in just 4 days and ten-year TNotes yielding just 175 basis points more than JGB’s, the narrowest since 1993. Three-month TBills yield 2 basis points and one wonders whether they could go to negative as they did in Switzerland years ago. Three-month Libor is 2.13% today and many now seem to be happy with a variety of currencies and maturities

Technical Summary for Majors

customerservices@windsorbrokersltd.com (Windsor Brokers Ltd) — Fri, 21 Nov 2008 09:39:38 GMT

EURUSD Remains poised for test of 1.2388, 13 Nov low, following decline from Wednesday's failure ahead of 1.2857, 13 Nov lower high. Meantime, a negative falling wedge drawn off 1.3300, 30 Oct recovery high unfolds, while losing 1.2329/1.2301 low may see acceleration to 1.2134 next. Back over Thursday's 1.2595 high to hint basing instead. Res: 1.2566, 1.2600, 1.2618, 1.2659 Sup: 1.2423, 1.2388, 1.2329, 1.2300 GBPUSD Bearish shooting star was left in the wake of decline from 1.5249, 19

Recent Recommended Trades

cs@acetrader.com (AceTrader) — Fri, 21 Nov 2008 09:19:29 GMT

*************************************************** Update Time: 21 Nov 2008 08:00GMT INTRA-DAY EUR/CHF CROSS OUTLOOK - +1.5400+ Despite intra-day breach of 1.5366, current re- treat fm 1.5390 suggests consolidation below there wud be seen n 1.5321 must hold for prospect of an- other rise, abv said res wud extend to 1.5400 but loss of momentum wud cap price at 1.5424. Trade fm long side with stop as indicated, break wud signal top is possibly made, 1.5280/90...

The BOJ hold interest rates as expected steady at 0.3 % after rate decision today

info@varengold.de (Varengold Wertpapierhandelsbank AG) — Fri, 21 Nov 2008 09:23:43 GMT

Good morning from Hamburg. Yesterday crude oil prices dipped below 50 USD, which is the lowest level since May 2005. Euro zone prices may fall for one or two months next Year, but the region is not facing deflation, said ECB governing council member Mersch in an interview. Market review The BOJ hold interest rates as expected steady at 0.3 % after rate decision today. The USD/JPY edged up 0.3 % on USD demand from Japanese importers before the long weekend in Tokyo. Short –term speculators also

Forex Market Outlook on Minors/Crosses

cs@acetrader.com (AceTrader) — Fri, 21 Nov 2008 08:25:41 GMT

INTRA-DAY AUD/USD OUTLOOK : 0.6248 Updating time : 21 Nov 2008 07:57 GMT Although aussie has risen after brief retreat n nr term rise fm 0.6075 (y'day's low) to retrace recent decline may extend gain to 0.6270/75, how- ever, reckon res at 0.6313 wud hold n yield retreat later today. Wud not chase this move n stand aside. Only be low said sup wud signal top is made, 0.6160/70... Range Forecast 0.6230 / 0.6260 Resistance/Support

Forex Market Outlook on Majors

cs@acetrader.com (AceTrader) — Fri, 21 Nov 2008 08:22:25 GMT

INTRA-DAY GBP/USD OUTLOOK : 1.4830 Updating time : 21 Nov 2008 08:03 GMT Although cable has retreated after intra-day rise to 1.4896 n pullback to 1.4800/10 is likely, reckon downside wud be ltd to 1.4780 (prev. res) n yield rebound, abv said res wud extend gain twds 1.4926 later. Buy dips with stop as indicated, break wud pro- long choppy trading n risk 1.4740... Range Forecast 1.4805 / 1.4855 Resistance/Support R: 1.4896/1.4926/1.4996 S: 1.4788/1.4712/1.4684

Further Economic Activity Deceleration is Expected in Germany in 2009.

info@forexltd.co.uk (Forex Ltd) — Fri, 21 Nov 2008 08:21:00 GMT

EUR The pre-planned positions for sell from key resistance range were realized with attainment of basic assumed targets. OsMA trend indicator, having marked activity fall of both parties gives reasons for assumptions about incomplete rate correction period. Hence and considering the current bullish activity cycle on the analyzed chart of working period we assume the possibility of as minimum another test at 1.2580/1.2600 range, where it is recommended to evaluate the activity development of

SNB out with a surprise 100 bp cut

info@saxobank.com (Saxo Bank) — Fri, 21 Nov 2008 08:08:16 GMT

Deal, NO Deal on US automakers sees wild JPY cross gyrations. EURUSD still not sending any clear signals. MAJOR HEADLINES – PREVIOUS SESSION Switzerland SNB lowered Libor Target Rate by 100 bps to 1.00% US Nov. Philadelphia Fed out a -39.3 vs. -35.0 expected Bank of Japan kept target rate at 0.30% as expected THEMES TO WATCH – UPCOMING SESSION Events Today: Germany Nov. Preliminary Manufacturing and Services PMI (0830) EuroZone Nov. Preliminary Manufacturing and Services PMI (0900 ) Canada

The Daily Forecaster

info@fx-forecaster.com (FX-Forecaster.com) — Fri, 21 Nov 2008 07:55:25 GMT

Please see attached file

Daily Forex Technical Report - Dollar and Yen Pare Overnight Gains as Stocks Rebound

contact@actionforex.com (ActionForex.com) — Fri, 21 Nov 2008 08:01:13 GMT

Action Insight Daily Report Dollar and Yen Pare Overnight Gains as Stocks Rebound Dollar and yen give up some overnight again today as Asian stock markets rebound after opening sharply low. Risk aversion initially dominated the markets as S&P 500 tumbled 6.7% to11 year low of 752.44 and after more than a month of consolidation, DOW finally broke 7884 low in Oct 10 and closed at 7552. Crude oil dived below $49 level. Dollar index rode on risk aversion and surged to as high as 88.36.

Today's Technical Trading Points

danskeresearch@danskebank.com (Danske Bank A/S) — Fri, 21 Nov 2008 07:45:13 GMT

EUR: Possibly attempt tiny longs at 1.2500; stop below 1.2300

Nicole.Elliot@mhcb.co.uk (Mizuho Corporate Bank) — Fri, 21 Nov 2008 07:45:45 GMT

EUR Comment: Very strange price action, so subdued compared to what is happening in other markets, almost as if an invisible hand was propping up the base. Surely we cannot hold inside this rather nasty ‘triangle’ for how much longer, and remember this currency pair may be subject to ‘false breaks’. Therefore implied volatility should remain high. Strategy: Possibly attempt tiny longs at 1.2500; stop below 1.2300. First target 1.2700, then 1.2800. EUR/JPY Comment: Dipping to a new recent low

US big three car makers told to come back with detailed rescue plans in ten days' time

Nicole.Elliot@mhcb.co.uk (Mizuho Corporate Bank) — Fri, 21 Nov 2008 07:38:11 GMT

Quote: ‘Who can I tear to pieces if not my friends? If they were not my friends, I could not do such violence to them.’ Francis Bacon (1909-1992) The News: US big three car makers told to come back with detailed rescue plans in ten days’ time. The Numbers: Greenwich Mean Time, with expectations and previous figures in brackets. 06:00 JP Bank of Japan Monthly Report and interest rate decision: unchanged at 0.30%. 08:30 DE November Manufacturing PMI (40 to 44, Services 46.8 to 48.5, versus 42.9

Asia Session

info@forex.com (FOREX.com) — Fri, 21 Nov 2008 09:10:07 GMT

After another disastrous day for US equities and news that the US Congress would delay the possibility of loans to the ''Big Three'' automakers we saw losses extend to Asian stocks and the Yen strengthen further. USD/JPY finished its fall from NY highs of 96.23 early in Asian trading at 93.56, where profit takers came swooping in on the Yen prior to the holiday extended weekend in Japan. After an initial open of 2% in the red, the Nikkei 225 reversed into positive territory, also helping to

New Zealand Dollar to Retrace Before Down Trend Continues (Forex Hedging Strategy)

info@fxcm.com (FXCM) — Fri, 21 Nov 2008 07:56:59 GMT

It is no surprise that the New Zealand Dollar continues to slide against its U.S. counterpart as RBNZ members have slashed rates by 175bp over the course of its last three consecutive meetings. The latter meeting alone saw an unprecedented 100bp cut. Following the decision came a 12.5% loss in the kiwi in the three days following the decision. With the current overnight cash rate at 6.50% the bank has substantial enough room for further action. The U.S. on the other hand has the benchmark

USD/CAD: Trading the Canadian Consumer Price Index

info@fxcm.com (FXCM) — Fri, 21 Nov 2008 07:25:48 GMT

Prices pressures in Canada are expected to weaken further as economists forecast the consumer price index to slip to an annual reading of 3.1% from 3.4% in September. Falling oil prices paired with the slowdown in the economy has certainly helped to curb the upside risks for inflation, and may weaken further over the coming months as commodity prices continues to tumble lower. Trading the News: Canadian Consumer Price Index (YoY) What’s Expected Time of release: 11/21/2008 12:00 GMT, 07:00 EST

Looking For Short Opportunities In The GBPJPY Range

info@fxcm.com (FXCM) — Fri, 21 Nov 2008 07:10:34 GMT

It is a dangerous proposition to range trade one of the currency market’s most volatile pairs; but technical patterns and risk/reward is so clear for GBPJPY that a good setup (with risk included) can be established. Why Would GBPJPY Stay in a Range? Levels to Watch: -Range Top: 146.50 (Trend, Fibs, SMA) -Range Bottom: 139.00 (Triple Bottom) Volatility is a staple of the popular GBPJPY. However, ranges do exist for this pair when broad risk trends settle. Considering market activity across the

Currency Majors Technical Analysis

forex@mataf.net (Mataf.net) — Fri, 21 Nov 2008 07:05:10 GMT

European Session EUR/USD - Euro Dollar 1,2524. EUR USD is in an downtrend directed by daily exponential moving averages. EUR USD is in a consolidation after the last bearish movement. Bollinger bands are flat. ForexTrend 4H, daily (Mataf Trend Indicator) is in a bearish configuration. 4H ForexSto (Modified Stochastic) indicate a bearish pressure on EUR USD. The price should find a support above 1,2390 (134 pips). If the support is broken then the target will be 1,1950 (574 pips). We are

EUR/USD: (1.2517) Testing again channel top and toying back with 1.2527 (see graph)

piet.lammens@kbc.be (KBC Bank) — Fri, 21 Nov 2008 07:02:17 GMT

Pair testing channel top from 1.4867 again and toying back with 1.2527 (see graph): Support area at 1.2426 (current week low), with next levels at 1.2388 (Nov 13 low), ahead of 1.2353/ .2343 (daily envelope bottom/ daily Bollinger bottom): tough on 1st attempts. If wrong, next levels at 1.2331 (reaction low off high) and 1.2300 (2nd target of daily channel break off 2005 low), where pause favored, amid bullish divergences threats. Resistance at 1.2547/ .2555 (daily Short Term Moving Average↓/

The Beast

info@alaron.com (Alaron) — Fri, 21 Nov 2008 10:28:17 GMT

Daily FX Forecast

admin@safelimited.com (S.A.F.E. Ltd) — Fri, 21 Nov 2008 06:19:38 GMT

Daily Forex and Dow Jones Recommended Levels

vilks49@yahoo.com (FXtechtrade) — Fri, 21 Nov 2008 06:13:12 GMT

Several words about the EUR/USD future. Resistance (daily close) : 1.3182 , 1.3364, 1.3590 и 1.3778. After that 1.3958, 1.4186 and 1.4400. Break of the latter will give 1.4490, 1.4692 и 1.4884. Then 1.5117, 1.5386, 1.5592 и 1.5660. Break of 1.5660 would lead to 1.5865, 1.7280 и 1.9430 (published on 23.10.2008). Support (daily close) : 1.2610, 1.2428 and 1.2246. Then 1.2128, 1.1970, 1.1838 and 1.1700. Break of the latter woyld give 1.1533, 1.1352 and 1.1181 (published оn

Downleg Near Completion in Q's

info@advicetrade.com (MPTrader.com) — Fri, 21 Nov 2008 06:14:52 GMT

My pattern and momentum work in the Q's (Nasdaq: QQQQ) argue that the downleg from the June 2008 recovery rally peak at 50.61 is at or is very near completion ahead of a potent recovery rally period that should propel the Q's into the 33.00-34.00 target zone. Can we loop down and retest this morning's low at 26.00 -- and possibly make new lows? Definitely, but relatively marginal new lows should be short-lived prior to a vicious snapback rally period. (12:45pm EST, 27.21).

Index Recommended Levels

vilks49@yahoo.com (FXtechtrade) — Fri, 21 Nov 2008 06:11:44 GMT

Dow Jones : Resistance(daily close) : 9382.12 , 9744.26, 10 091.30, 10 935.23, 11 164.57, 344.92 and 11 520.30. Then 11 749.22, 11 970.00, 12 152.82, 12 600.24, 12 982.20, 13 162.50 and 13 320.00. Break of the latter will lead to 13 567.60, 13 668.74 and 13 792.53 ( published on October 21 , 2008). Support (daily close): 8912.62, 8827.27, 8642.60, 8403.77, 8257.46 , 8100.00 and 7920.08. Then 7695.13 , 7464.38, 7290.20 and 7177.50. Break of the latter will lead to 7020.34,

Euro OUTLOOK

sales@tradingcentral.com (Trading Central) — Fri, 21 Nov 2008 05:56:06 GMT

EUI (USD/EUR on ISE): Further bounce expected Pivot: 78 Our forecast: Up move towards 81 & 83. Comment: The pair is shaping a symetrical triangle which should favor a further bounce. To leverage our Trend Opinion on the ISE FX Euro currency rate we selected the following strategy.

EUR/USD Daily Outlook

cs@acetrader.com (AceTrader) — Fri, 21 Nov 2008 05:56:35 GMT

INTRA-DAY EUR/USD OUTLOOK : 1.2500 Updating time :21 Nov 2008 04:29 GMT Euro's strg rebound fm 1.2423 on cross buying vs yen n chf indicates an intra-day low has been made n consolidation with mild upside bias is seen for correction of recent decline to 1.2520/30 but abv 1.2560 is needed to abort daily bearishness. Below 1.2445/50 wud yield another fall to said sup n then twds 1.2388. Stand aside for now... Range Forecast 1.2470 / 1.2520

Euribor – December 2008

Nicole.Elliot@mhcb.co.uk (Mizuho Corporate Bank) — Fri, 21 Nov 2008 05:47:39 GMT

Comment: With the Swiss National Bank biting the bullet today and slashing target interest rates by 100 basis points to 1.00%, the obvious question is: when will the ECB embrace a zero interest rate policy? When a large German engineering firm is avoiding the banking system altogether and holding all cash balances in Bubills, you know the situation is dire. The stampede into Treasuries continues and nearly all maturities are benefiting, Schatz yields down to 2.00%, just shy of the all-time low