Technical Market View

AUD/USD

EUR/CHF


EUR/GBP


EUR/JPY


GBP/JPY



You can find the complete analysis at the pdf...


Technical analysis-Comments
G. Antonakos
Head of Analysis Dept.


DISCLAIMER

1. The details and information included in the above analysis, are part of research based exclusively on currency charts and are of purely instructional and educational nature. None of the information featuring in the analysis can be considered as an invitation for opening positions in FOREX market or in the market of forward contracts or any securities listed on an organized or unorganized market.

2. We assume no responsibility for any kind of losses, profits or property loss resulting, in whole or in part, from acts that are based either directly or indirectly on the processing or the use of information, details and strategies, the reader may find in the analysis. The readers hold full responsibility for the use and the results of their actions.

3. The recipients of the analysis must acknowledge and accept that investment choices of any kind, especially concerning the FOREX market, contain risks (high, low and occasionally zero) of reduction or even loss of their investment. Therefore, they should always be cautious prior to any kind of action.

4. We reserve the right to change the terms and the characteristics of the analysis.

5. The contents of the analysis are solely intended for personal use. They may not be re-transmitted, reproduced, distributed, published, adapted, modified or assigned to third parties in any way whatsoever. Anyone having access to them is required to comply with the law provisions on the protection of third party intellectual property rights

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Why ForexGen?

1. Lowest spreads in the market with 0-1 pips in 10 pairs, no commissions, no swaps and instant account Activation.
2. Scandinavian quality with Swiss precision, funds secured and local agents in 18+ countries.
3. ForexGen offers Forex trading in the major currency pairs and crosses.
4. Low capital start, with $250 as a minimum account size.
5. Liquidity and 24/5 availability are the characteristic factors of the Forex market compared with other financial markets.
6. ForexGen offers a free trial Forex demo account that allows you to test your skills and practice without risking real money.

Technical Market View

USD/CAD

Gold


SILVER


CRUDEOIL


DOW JONES



You can find the complete analysis at the pdf...


Technical analysis-Comments
G. Antonakos
Head of Analysis Dept.


DISCLAIMER

1. The details and information included in the above analysis, are part of research based exclusively on currency charts and are of purely instructional and educational nature. None of the information featuring in the analysis can be considered as an invitation for opening positions in FOREX market or in the market of forward contracts or any securities listed on an organized or unorganized market.

2. We assume no responsibility for any kind of losses, profits or property loss resulting, in whole or in part, from acts that are based either directly or indirectly on the processing or the use of information, details and strategies, the reader may find in the analysis. The readers hold full responsibility for the use and the results of their actions.

3. The recipients of the analysis must acknowledge and accept that investment choices of any kind, especially concerning the FOREX market, contain risks (high, low and occasionally zero) of reduction or even loss of their investment. Therefore, they should always be cautious prior to any kind of action.

4. We reserve the right to change the terms and the characteristics of the analysis.

5. The contents of the analysis are solely intended for personal use. They may not be re-transmitted, reproduced, distributed, published, adapted, modified or assigned to third parties in any way whatsoever. Anyone having access to them is required to comply with the law provisions on the protection of third party intellectual property rights

Why ForexGen?

1. Lowest spreads in the market with 0-1 pips in 10 pairs, no commissions, no swaps and instant account Activation.
2. Scandinavian quality with Swiss precision, funds secured and local agents in 18+ countries.
3. ForexGen offers Forex trading in the major currency pairs and crosses.
4. Low capital start, with $250 as a minimum account size.
5. Liquidity and 24/5 availability are the characteristic factors of the Forex market compared with other financial markets.
6. ForexGen offers a free trial Forex demo account that allows you to test your skills and practice without risking real money.

Euro Will Likely Form a Low in Next Few Days

The EURUSD is consolidating above 1.58 but a drop below there is probable today or early next week before a tradeable low is in place. 1.5611 remains the bullish 'line in the sand'.

There is little new to add regarding EURUSD structure. The weight of evidence continues to favor bulls. Our preferred count treats the consolidation from 1.6018 to the end of June as a triangle in the wave IV position (within the 5 wave advance from 1.1640). From the 6/23 low on 1.5468, the EURUSD has rallied impulsively, declined correctively, rallied impulsively, and is currently declining (correctively to this point). The drop from 1.6039 is viewed as wave ii of 3. Look for support near 1.57 today or early next week. We are bullish against 1.5611.

Visit our recently updated Euro Currency Room for specific resources geared towards this currency.

STRATEGY: Bullish, against 1.5611, targets 1.6325 and above

The USDJPY decline from 107.75 could be the beginning of a 3rd wave within the decline from 108.57. Bigger picture, the advance from 95.72 is in 3 waves (A-B-C). Wave C is nearly 61.8% of wave A, a common relationship. The pair has broken the support line shown above and held below the 200 day SMA. We wrote yesterday to “look for resistance as high as 106.75/107.00; the former trendline and a congestion zone.” The USDJPY spiked into 107 yesterday and is pressuring the figure again this morning. If the bearish bias is to prove correct, then price needs to fall before 107.75.

Visit our recently updated Yen Currency Room for specific resources geared towards this currency.

STRATEGY: Bearish, against 107.75, targets 101.97 and below

Wave C of a triangle may be complete at 2.0156 and wave D could be underway now. However, we favor the count that treats the advance from 1.9364 as wave C of a flat, which will not end until above 2.04. The red line on this chart is the 200 day SMA, which the GBPUSD is holding above. Keep risk at 1.9810 and look for support in the 1.9884-1.9925 zone.

Visit our recently updated British Pound Currency Room for specific resources geared towards this currency.

STRATEGY: Bullish, against 1.9810, target TBD

The short term picture remains clouded. When in doubt, focus on facts. The facts are that the rally from .9647 is in 3 waves and that since early May the USDCHF has made a series of lower highs. This evidence is bearish. As long as price is below the most recent high (1.0352), a bearish bias is warranted. 1.0250 may provide resistance.

Wave E is still underway but is nearing an end. E waves (as we’ve written here often) are usually sharp and the decline has accelerated. In fact, do not be surprised to see a test of the lower triangle line near .99 before the USDCAD turns up. We’ll look to identify the bottom next week.

Visit our recently updated Canadian Dollar Currency Room for specific resources geared towards this currency

The AUDUSD setback has reached and bounced from just above the 50% of .9475-.9849. The drop from .9849 is clearly in 3 waves (corrective) to this point; therefore evidence continues to support bulls. A cautious bullish bias is warranted against .9677.

The NZDUSD fell sharply yesterday but a drop below .7587 is required in order to make the decline from .7761 an impulse and suggest that the trend has turned back down. Until then, gains (albeit correctively) are still possible.

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South Korean Won Slids Deep

The South Korean won fell sharply against the U.S. dollar this week and reached its monthly low against the USD today despite the very weak dollar’s positions and the bullish trend in the Chinese yuan, which is the one of the dominating Asian currencies.

The South Korean government officials are responsible for the strong pledges to support the weakening of the national currency to narrow the current account deficit, which has reached dangerous levels recently.

The Strategy and Finance Minister, Kang Man-soo, stated that the current account balance is one of the primary objective of the monetary policymaking. He stands as a strong supporter for the won’s depreciating.

The won pushing from the government’s side is accompanied with an elevated demand for the U.S. dollar, as the companies need to buy the more expensive oil and other commodities.

Yesterday Soгер Korean won closed at 982.19 per U.S. dollar, today USD/KRW reached 1000.60 and is trading at 998.05 as of 9:49 GMT.

ForexGen provides its institutional clients with incomparable professional and individualized trading services. As a professional online trading service, ForexGen provides several facilities for all kinds of traders. Our corporate and managed trading service performance are based on respect and appreciation which is only achieved by offering intelligent high end trading tools for secure investment. ForexGen is the easiest and fastest gateway for the corporate traders to perform successful trading, which provides a unique institutional investor professional facilities and highly qualified individualized services for the international customer. ForexGen provides advanced online trading software with full corporate trading services. A rich choice of managed accounts are also available, please check our Managed Account Section

ForexGen delivers what traders want: instant order execution, lowest spreads, flexible starting capital, fast deposits and withdrawal, a local support in more than 18 countries, and most of all, solid funds security.

Winning in trading depends on using the right strategy and controlling all the moves. Trading strategies are discussed in details at ForexGen Academy.

ForexGen In European Session

ForexGen were actively in European session as a few discrete events had traders scrambling.
First were the comments from BoE Governor Meryn King during MPC testimony to Treasury Select Committee who stated "[...] this is not an economy that has completely grounded to a halt but we are looking ahead and expect some slowing…." GbpUsd sold off as the market hurried to price in easing as early as April.

Second was the German IFO which caught the market completely off guard. Most participants had risk slanted to the downside but that was not to be. German IFO Current Assessment printed up to 111.5 vs. 109.5 exp while hit Expectations 98.4 vs. 97.8 exp. With the economic engine of the Euro zone still humming along in light of an elevated Eur and slowing global demand this was clearly a positive. An economy which is declining at a moderate pace will give the ECB greater maneuverability with interest rates and keep supporting the Eur.

And the final event was US durable Goods Order Feb which fell -1.7% vs. 0.7% exp on the back of weak Jan figure. This is just further indication that when an economy drops into recession things unwind very quickly. Watch for further Usd weakness.

ForexGen provides its institutional clients with incomparable professional and individualized trading services. As a professional online trading service, ForexGen provides several facilities for all kinds of traders. Our corporate and managed trading service performance are based on respect and appreciation which is only achieved by offering intelligent high end trading tools for secure investment. ForexGen is the easiest and fastest gateway for the corporate traders to perform successful trading, which provides a unique institutional investor professional facilities and highly qualified individualized services for the international customer. ForexGen provides advanced online trading software with full corporate trading services. A rich choice of managed accounts are also available, please check our Managed Account Section

ForexGen delivers what traders want: instant order execution, lowest spreads, flexible starting capital, fast deposits and withdrawal, a local support in more than 18 countries, and most of all, solid funds security.

Winning in trading depends on using the right strategy and controlling all the moves. Trading strategies are discussed in details at ForexGen Academy.

Forex Trading with ForexGen

Forex, Fx or Foreign Exchange Market is a network of the largest financial institutions in the world such as central banks, commercial banks, and other financial institutions, corporate customers and forex brokers, where foreign currency is bought and sold.

Daily forex trading in traditional forex exchange is very large and was estimated at USD 1.5 trillion in 1998.

The forex market is a 24 hour global forex market that works all week except Saturdays and Sundays with no opening or closing hours.

The four largest forex centers in the world are London, New York, Tokyo and Singapore. Usually forex trading is brisk in North America mornings, or afternoons in Europe due to both markets being open at the same time and usually due to new US economic data being released.

The forex trading markets regularly trade a very wide range of currencies; however the majority of forex transactions are in five major currencies: the US Dollar, the Euro, the British Pound, the Yen and the Swiss Frank . The greatest number of forex currency trades are made against the US Dollar.

ForexGen provides its institutional clients with incomparable professional and individualized trading services. As a professional online trading service, ForexGen provides several facilities for all kinds of traders. Our corporate and managed trading service performance are based on respect and appreciation which is only achieved by offering intelligent high end trading tools for secure investment. ForexGen is the easiest and fastest gateway for the corporate traders to perform successful trading, which provides a unique institutional investor professional facilities and highly qualified individualized services for the international customer. ForexGen provides advanced online trading software with full corporate trading services. A rich choice of managed accounts are also available, please check our Managed Account Section

ForexGen delivers what traders want: instant order execution, lowest spreads, flexible starting capital, fast deposits and withdrawal, a local support in more than 18 countries, and most of all, solid funds security.

Winning in trading depends on using the right strategy and controlling all the moves. Trading strategies are discussed in details at ForexGen Academy.