Market Overview by FXCC

[alayoua]

Update Daily Technical Levels from FXCC 22/08/2011

 

Update Daily Technical Levels from FXCC 22/08/2011

 

EUR/USD

Intraday Technical Levels:

Pivot: 1.4345

Preference: Long positions above 1.4345 with targets @ 1.4435 & 1.4475 in extension.

Alternative Scenario: Below 1.4345 look for further downside with 1.43 & 1.427 as targets.

Comment: the pair is on the upside and is challenging its resistance, the RSI is mixed to bullish.

 

USD/JPY

Intraday Technical Levels:

 

Pivot: 77

Preference: Short positions below 77 with targets @ 76.4 & 76 in extension.

Alternative Scenario: Above 77 look for further upside with 77.5 & 77.9 as targets.

Comment: the pair stands below its resistance and remains under pressure.

 

GBP/USD

Intraday Technical Levels:

 

Pivot: 1.644

Preference: Long positions above 1.644 with targets @ 1.655 & 1.662 in extension.

Alternative Scenario: Below 1.644 look for further downside with 1.64 & 1.632 as targets.

Comment: the pair stands above its support and should post a rebound.

 

Daily Technical Levels from fxcc.com

Source: FX Central Clearing

[alayoua]

Daily Technical Levels from FXCC 23 Aug 2011

 

Daily Technical Levels from FXCC 23 Aug 2011

 

 

EUR/USD

Intraday Technical Levels:

 

Pivot: 1.4345.

Preference: LONG positions @ 1.4355 with 1.4435 & 1.4475 in sight.

Alternative Scenario: The downside breakout of 1.4345 will open the way to 1.43 & 1.427.

Comment: the pair stands above its support and should post a rebound.

 

USD/JPY

Intraday Technical Levels:

 

Pivot: 77.00.

Preference: SHORT positions @ 76.95 with 76.4 & 76 as next targets.

Alternative Scenario: The upside breakout of 77 will open the way to 77.5 & 77.9.

Comment: the pair stands below its resistance and remains under pressure.

 

GBP/USD

Intraday Technical Levels:

 

Pivot: 1.6425.

Preference: LONG positions @ 1.6435 with 1.6525 & 1.655 in sight.

Alternative Scenario: The downside penetration of 1.6425 will call for 1.6375 & 1.632.

Comment: the RSI is supported by a rising trend line, the pair stands above its support.

 

 

Daily Technical Levels from fxcc.com

Source: FX Central Clearing

[alayoua]

Update Daily Technical Levels from FXCC 23 Aug 2011

 

Update Daily Technical Levels from FXCC 23 Aug 2011

 

EUR/USD

Intraday Technical Levels:

 

Pivot: 1.442

Preference: Long positions above 1.442 with targets @ 1.4515 & 1.454 in extension.

Alternative Scenario: Below 1.442 look for further downside with 1.4385 & 1.4345 as targets.

Comment: the pair has struck against its resistance and is pulling back on its support ahead of further up move.

 

USD/JPY

Intraday Technical Levels:

 

Pivot: 77

Preference: Short positions below 77 with targets @ 76.4 & 76 in extension.

Alternative Scenario: Above 77 look for further upside with 77.25 & 77.5 as targets.

Comment: the pair remains under pressure and is approaching its support.

 

GBP/USD

Intraday Technical Levels:

 

Pivot: 1.649

Preference: Long positions above 1.649 with targets @ 1.6575 & 1.66 in extension.

Alternative Scenario: Below 1.649 look for further downside with 1.645 & 1.641 as targets.

Comment: the pair is pulling back on its support ahead of a rebound.

 

Daily Technical Levels from fxcc.com

Source: FX Central Clearing

[alayoua]

Daily Technical Levels from FXCC 24 Aug 2011

 

Daily Technical Levels from FXCC 24 Aug 2011

 

 

EUR/USD

Intraday Technical Levels:

 

Pivot: 1.4380.

Preference: LONG positions @ 1.439 with 1.445 & 1.4515 in sight.

Alternative Scenario: The downside penetration of 1.438 will call for 1.4345 & 1.4295.

Comment: the pair stands above its support and should post a rebound.

 

USD/JPY

Intraday Technical Levels:

 

Pivot: 76.40.

Preference: LONG positions @ 76.45 with 77 & 77.25 in sight.

Alternative Scenario: The downside penetration of 76.4 will call for a slide towards 76.2 & 76.

Comment: the pair is rebounding on its support, the RSI is mixed to bullish.

 

GBP/USD

Intraday Technical Levels:

 

Pivot: 1.6475.

Preference: LONG positions @ 1.6485 with 1.6525 & 1.6575 in sight.

Alternative Scenario: The downside penetration of 1.6475 will call for 1.6435 & 1.641.

Comment: the pair is pulling back on its support ahead of a rebound.

 

 

Daily Technical Levels from fxcc.com

Source: FX Central Clearing

[alayoua]

Update Daily Technical Levels from FXCC 24 Aug 2011

 

Update Daily Technical Levels from FXCC 24 Aug 2011

 

EUR/USD

Intraday Technical Levels:

 

Pivot: 1.44

Preference: Long positions above 1.44 with targets @ 1.448 & 1.4515 in extension.

Alternative Scenario: Below 1.44 look for further downside with 1.4375 & 1.4345 as targets.

Comment: the pair remains on the upside and is challenging its resistance, a pull back should not be ruled out ahead of further advance.

USD/JPY

Intraday Technical Levels:

 

Pivot: 76.9

Preference: Short positions below 76.9 with targets @ 76.4 & 76.2 in extension.

Alternative Scenario: Above 76.9 look for further upside with 77 & 77.25 as targets.

Comment: the RSI is badly directed, the pair is under pressure and is approaching its support.

 

GBP/USD

Intraday Technical Levels:

 

Pivot: 1.6525

Preference: Short positions below 1.6525 with targets @ 1.6435 & 1.641 in extension.

Alternative Scenario: Above 1.6525 look for further upside with 1.6575 & 1.66 as targets.

Comment: the RSI is badly directed, the pair is breaking below its support and should face further weakness.

 

Daily Technical Levels from fxcc.com

Source: FX Central Clearing

[alayoua]

Daily Technical Levels from FXCC 25 Aug 2011

 

Daily Technical Levels from FXCC 25 Aug 2011

 

 

EUR/USD

Intraday Technical Levels:

 

Pivot: 1.4375.

Preference: LONG positions @ 1.4385 with 1.445 & 1.448 in sight.

Alternative Scenario: The downside penetration of 1.4375 will call for 1.4345 & 1.4325.

Comment: the pair stands above its support and should post a rebound.

 

USD/JPY

Intraday Technical Levels:

 

Pivot: 76.70.

Preference: LONG positions @ 76.75 with 77.25 & 77.5 as next targets.

Alternative Scenario: The downside penetration of 76.7 will call for 76.45 & 76.2.

Comment: the pair has rebounded on its new support, the RSI is supported by a rising trend line.

 

GBP/USD

Intraday Technical Levels:

 

Pivot: 1.6425.

Preference: SHORT positions @ 1.6415 with targets @ 1.635 & 1.6325.

Alternative Scenario: The upside penetration of 1.6425 will call for 1.6475 & 1.6525.

Comment: the pair stands below its new resistance and remains under pressure.

 

 

Daily Technical Levels from fxcc.com

Source: FX Central Clearing

[alayoua]

Update Daily Technical Levels from FXCC 25 Aug 2011

 

Update Daily Technical Levels from FXCC 25 Aug 2011

 

EUR/USD

Intraday Technical Levels:

 

Pivot: 1.4400

Preference: Long positions above 1.44 with targets @ 1.448 & 1.4515 in extension.

Alternative Scenario: Below 1.44 look for further downside with 1.4375 & 1.4345 as targets.

Comment: the pair is rebounding on its new support and should post further advance.

USD/JPY

Intraday Technical Levels:

 

Pivot: 76.85

Preference: Long positions above 76.85 with targets @ 77.25 & 77.5 in extension.

Alternative Scenario: Below 76.85 look for further downside with 76.7 & 76.45 as targets.

Comment: the RSI is supported by a rising trend line, the pair stands above its new support.

 

GBP/USD

Intraday Technical Levels:

 

Pivot: 1.64

Preference: Short positions below 1.64 with targets @ 1.6345 & 1.6325 in extension.

Alternative Scenario: Above 1.64 look for further upside with 1.6425 & 1.6475 as targets.

Comment: the pair is posting a rebound but stands below its resistance.

 

Daily Technical Levels from fxcc.com

Source: FX Central Clearing

[alayoua]

Daily Technical Levels from FXCC 26 Aug 2011

 

Daily Technical Levels from FXCC 26 Aug 2011

 

 

EUR/USD

Intraday Technical Levels:

 

Pivot: 1.4360.

Preference: LONG positions @ 1.437 with 1.4425 & 1.4475 in sight.

Alternative Scenario: The downside penetration of 1.436 will call for a slide towards 1.433 & 1.429.

Comment: the pair has rebounded on its support and is approaching its intermediary resistance.

 

USD/JPY

Intraday Technical Levels:

 

Pivot: 77.15.

Preference: LONG positions @ 77.2 with targets @ 77.5 & 77.7.

Alternative Scenario: The downside penetration of 77.15 will call for 76.85 & 76.7.

Comment: the pair is pulling back on its new support ahead of a rebound.

 

GBP/USD

Intraday Technical Levels:

 

Pivot: 1.6345.

Preference: SHORT positions @ 1.6335 with 1.626 & 1.6225 in sight.

Alternative Scenario: The upside breakout of 1.6345 will open the way to 1.64 & 1.6425.

Comment: the pair is posting a rebound but stands below its resistance.

 

 

Daily Technical Levels from fxcc.com

Source: FX Central Clearing

[alayoua]

Update Daily Technical Levels from FXCC 26 Aug 2011

 

Update Daily Technical Levels from FXCC 26 Aug 2011

 

EUR/USD

Intraday Technical Levels:

 

Pivot: 1.4375

Preference: Long positions above 1.4375 with targets @ 1.4475 & 1.4515 in extension.

Alternative Scenario: Below 1.4375 look for further downside with 1.433 & 1.429 as targets.

Comment: the pair has struck against its resistance and is pulling back on its support.

 

USD/JPY

Intraday Technical Levels:

 

Pivot: 77

Preference: Short positions below 77 with targets @ 76.5 & 76.3 in extension.

Alternative Scenario: Above 77 look for further upside with 77.3 & 77.5 as targets.

Comment: the pair has broken below its support and remains under pressure.

 

GBP/USD

Intraday Technical Levels:

 

Pivot: 1.6345

Preference: Short positions below 1.6345 with targets @ 1.6225 & 1.617 in extension.

Alternative Scenario: Above 1.6345 look for further upside with 1.64 & 1.6425 as targets.

Comment: the pair has struck against its strong resistance and is breaking below its support.

 

Daily Technical Levels from fxcc.com

Source: FX Central Clearing

[alayoua]

Daily Technical Levels from FXCC 29 Aug 2011

 

Daily Technical Levels from FXCC 29 Aug 2011

 

 

EUR/USD

Intraday Technical Levels:

 

Pivot: 1.4450.

Preference: LONG positions @ 1.446 with 1.454 & 1.458 as next targets.

Alternative Scenario: The downside penetration of 1.445 will call for a slide towards 1.4395 & 1.433.

Comment: the pair has broken above its declining trend line and is challenging its previous high.

 

USD/JPY

Intraday Technical Levels:

 

Pivot: 77.00.

Preference: SHORT positions @ 76.95 with 76.5 & 76.3 as next targets.

Alternative Scenario: The upside penetration of 77 will call for 77.3 & 77.5.

Comment: the pair is under pressure and is approaching its support.

 

GBP/USD

Intraday Technical Levels:

 

Pivot: 1.6325.

Preference: LONG positions @ 1.6335 with 1.64 & 1.6445 in sight.

Alternative Scenario: The downside penetration of 1.6325 will call for 1.6275 & 1.621.

Comment: the pair is supported by a rising trend line, the pair is on the upside and is challenging its resistance.

 

 

Daily Technical Levels from fxcc.com

Source: FX Central Clearing

[alayoua]

Update Daily Technical Levels from FXCC 29 Aug 2011

 

Update Daily Technical Levels from FXCC 29 Aug 2011

 

EUR/USD

Intraday Technical Levels:

 

Pivot: 1.4475

Preference: Long positions above 1.4475 with targets @ 1.455 & 1.458 in extension.

Alternative Scenario: Below 1.4475 look for further downside with 1.443 & 1.4395 as targets.

Comment: the pair is pulling back on its new support ahead of further advance.

 

USD/JPY

Intraday Technical Levels:

 

Pivot: 77

Preference: Short positions below 77 with targets @ 76.5 & 76.3 in extension.

Alternative Scenario: Above 77 look for further upside with 77.3 & 77.5 as targets.

Comment: the pair is under pressure and is approaching its support.

 

GBP/USD

Intraday Technical Levels:

 

Pivot: 1.6325

Preference: Long positions above 1.6325 with targets @ 1.641 & 1.6445 in extension.

Alternative Scenario: Below 1.6325 look for further downside with 1.6275 & 1.621 as targets.

Comment: the RSI is supported by a rising trend line, the pair remains on the upside.

 

Daily Technical Levels from fxcc.com

Source: FX Central Clearing

[alayoua]

Daily Technical Levels from FXCC 30 Aug 2011

 

Daily Technical Levels from FXCC 30 Aug 2011

 

 

EUR/USD

Intraday Technical Levels:

 

Pivot: 1.4475.

Preference: LONG positions @ 1.4485 with targets @ 1.455 & 1.458.

Alternative Scenario: The downside penetration of 1.4475 will call for 1.443 & 1.4395.

Comment: the RSI is supported by a rising trend line, the pair stands above its support and should post a

rebound.

 

USD/JPY

Intraday Technical Levels:

 

Pivot: 77.10.

Preference: SHORT positions @ 77.05 with 76.7 & 76.5 as next targets.

Alternative Scenario: The upside breakout of 77.1 will open the way to 77.3 & 77.5.

Comment: the RSI is badly directed, the pair stands below its resistance and should face further weakness.

 

GBP/USD

Intraday Technical Levels:

 

Pivot: 1.6365.

Preference: LONG positions @ 1.6375 with targets @ 1.6445 & 1.6475.

Alternative Scenario: The downside breakout of 1.6365 will open the way to 1.6325 & 1.6275.

Comment: the pair stands above its support and remains on the upside, the RSI is challenging its rising

trend line.

 

Daily Technical Levels from fxcc.com

Source: FX Central Clearing

[alayoua]

Daily Technical Levels from FXCC 02 Sep 2011

 

Daily Technical Levels from FXCC 02 Sep 2011

 

 

EUR/USD

Intraday Technical Levels:

 

Pivot: 1.4300.

Preference: SHORT positions @ 1.429 with targets@ 1.425 & 1.422.

Alternative Scenario: The upside breakout of 1.43 will open the way to 1.435 & 1.4385.

Comment: the pair RSI is capped by a declining trend line, the pair remains under pressure and should face further weakness.

 

USD/JPY

Intraday Technical Levels:

 

Pivot: 77.00.

Preference: SHORT positions @ 76.95 with 76.75 & 76.6 in sight.

Alternative Scenario: The upside breakout of 77 will open the way to 77.2 & 77.35.

Comment: the pair has struck against its resistance and remains under pressure.

 

GBP/USD

Intraday Technical Levels:

 

Pivot: 1.6225.

Preference: SHORT positions @ 1.6215 with 1.616 & 1.613 in sight.

Alternative Scenario: The upside breakout of 1.6225 will open the way to 1.6255 & 1.6295.

Comment: the pair and its intraday RSI remain capped by declining trend lines.

 

Daily Technical Levels from fxcc.com

Source: FX Central Clearing

[ande.andelumut]

wow,, this new system from fxcm,,

good thread bro, :)

[alayoua]

Daily Technical Levels from FXCC 05 Sep 2011

 

Daily Technical Levels from FXCC 05 Sep 2011

 

 

EUR/USD

Intraday Technical Levels:

 

Pivot: 1.4230.

Preference: SHORT positions @ 1.422 with targets @ 1.412 & 1.405.

Alternative Scenario: The upside penetration of 1.423 will call for a rebound towards 1.43 & 1.435.

Comment: the pair and its intraday RSI remain capped by declining trend lines.

 

USD/JPY

Intraday Technical Levels:

 

Pivot: 77.00.

Preference: SHORT positions @ 76.95 with targets @ 76.6 & 76.45.

Alternative Scenario: The upside breakout of 77 will open the way to 77.2 & 77.35.

Comment: the pair has struck against its resistance and remains under pressure.

 

GBP/USD

Intraday Technical Levels:

 

Pivot: 1.6225.

Preference: SHORT positions @ 1.6215 with targets @ 1.613 & 1.6105.

Alternative Scenario: The upside penetration of 1.6225 will call for 1.6255 & 1.6295.

Comment: the pair stands below its resistance and remains under pressure.

 

Daily Technical Levels from fxcc.com

Source: FX Central Clearing

[alayoua]

Update Daily Technical Levels from FXCC 05 Sep 2011

 

Update Daily Technical Levels from FXCC 05 Sep 2011

 

EUR/USD

Intraday Technical Levels:

 

Pivot : 1.418

Preference: Short positions below 1.418 with targets @ 1.41 & 1.405 in extension.

Alternative Scenario: Above 1.418 look for further upside with 1.423 & 1.43 as targets.

Comment: the pair stands below its resistance and remains under pressure as the RSI is capped by a MT declining trend line.

 

USD/JPY

Intraday Technical Levels:

 

Pivot: 77

Preference: Short positions below 77 with targets @ 76.6 & 76.45 in extension.

Alternative Scenario: Above 77 look for further upside with 77.2 & 77.35 as targets..

Comment: the pair is posting a rebound but stands below its resistance.

 

GBP/USD

Intraday Technical Levels:

 

Pivot: 1.619

Preference: Short positions below 1.619 with targets @ 1.6095 & 1.605 in extension.

Alternative Scenario: Above 1.619 look for further upside with 1.6225 & 1.6255 as targets.

Comment: the pair remains capped by a declining trend line and is challenging its support.

 

Daily Technical Levels from fxcc.com

Source: FX Central Clearing http://www.fxcc.com

[alayoua]

Daily Technical Levels from FXCC 06 Sep 2011

 

Daily Technical Levels from FXCC 06 Sep 2011

 

 

EUR/USD

Intraday Technical Levels:

 

Pivot: 1.4130.

Preference: SHORT positions @ 1.412 with targets @ 1.4 & 1.3975.

Alternative Scenario: The upside breakout of 1.413 will open the way to 1.418 & 1.423.

Comment: the pair and its intraday RSI remain capped by declining trend lines.

 

USD/JPY

Intraday Technical Levels:

 

Pivot: 77.00.

Preference: SHORT positions @ 76.95 with 76.6 & 76.45 as next targets.

Alternative Scenario: The upside breakout of 77 will open the way to 77.2 & 77.35.

Comment: the pair has struck against its resistance and remains under pressure.

 

GBP/USD

Intraday Technical Levels:

 

Pivot: 1.6150.

Preference: SHORT positions @ 1.614 with 1.605 & 1.6 in sight.

Alternative Scenario: The upside penetration of 1.615 will call for a rebound towards 1.619 & 1.6225.

Comment: the RSI is badly directed, the pair remains capped by a declining trend line.

 

Daily Technical Levels from fxcc.com

Source: FX Central Clearing http://www.fxcc.com

[alayoua]

Are the ghosts of 2008-2009 looking to haunt the markets again?

 

Are the ghosts of 2008-2009 looking to haunt the markets again?

 

There were many amongst us in 2008-2009 who believed that insoluble medium term sovereign debt crises would be the ultimate result of rescuing the insolvent banking system by way of quantitative easing and continual bailouts (both secretive and published). As the dangerous portents of the crises return that prediction looks correct…

According to a Bloomberg index European banking and ‘financial’ stocks in Europe fell 5.6 percent yesterday to sink to their lowest level since March 2009, the measure of banks’ reluctance to lend to each other also spiked to the highest since April of that same year. The Bloomberg Europe Banks and Financial Services Index of 46 stocks has dropped almost 10 percent in the past two sessions, to the lowest level since March 31, 2009.

In the UK the bank RBS, much maligned at the time of the crisis in 2008-2009, has seen it’s share price once again flirt with the record lows experienced during the crisis. At 51p the UK govt. breaks even on it’s rescue, Lloyds has to recover to 74p. At 21p and 31p respectively, the market for banking sector shares would have to make a massive recovery, similar to the secular bear market rally since 2010, for the govt. and tax payers to break even…. Read the full article

 

Source: FX Central Clearing Ltd. (FXCC BLOG)

 

http://blog.fxcc.com/are-the-ghosts-of-2008-2009-looking-to-haunt-the-markets-again/

[alayoua]

Daily Technical Levels from FXCC 07 Sep 2011

 

Daily Technical Levels from FXCC 07 Sep 2011

 

 

EUR/USD

Intraday Technical Levels:

 

Pivot: 1.4100.

Preference: SHORT positions @ 1.409 with targets @ 1.3975 & 1.393.

Alternative Scenario: The upside penetration of 1.41 will call for a rebound towards 1.415 & 1.42.

Comment: the pair is rebounding but stands below its resistance, the RSI calls for caution.

 

USD/JPY

Intraday Technical Levels:

 

Pivot: 77.50.

Preference: SHORT positions @ 77.45 with 77.05 & 76.8 in sight.

Alternative Scenario: The upside breakout of 77.5 will open the way to 77.7 & 77.85.

Comment: the pair is under pressure and is approaching its support.

 

GBP/USD

Intraday Technical Levels:

 

Pivot: 1.6055.

Preference: SHORT positions @ 1.6045 with 1.592 & 1.5875 in sight.

Alternative Scenario: The upside penetration of 1.6055 will call for 1.61 & 1.615.

Comment: the pair stands below its new resistance, the RSI lacks upward momentum.

 

Daily Technical Levels from fxcc.com

Source: FX Central Clearing

[alayoua]

The four corners of trader development

 

The four corners of trader development

 

After practicing an overlapping drill last Friday with my football youth team I reminded one of the seventeen year olds, who I’ve known and coached since the age of five, that the first time we did this drill he was seven. In fact his memory of the drill proved better than mine and he performed it superbly; in terms of timing, weight on the pass, acceleration to be in the right zone, compensating for others’ weak passes, the drill was superbly executed.

Later on I considered the development of certain players I’ve known since they were no more than infants and how their development paths have all taken different routes and time. Within football coaching echelons we’re often given the advice (from the F.A.) that during childhood the development span of a child could be up to five years, for example, a ten year old could be playing at the overall level of a fifteen year old, similarly other youngsters could still be at the playing level of five year olds.

The F.A. created some intel on this subject, it was termed “the four corners of development”. Pondering on its merits I decided it would be an incredibly useful exercise to use the stages of development as a reference to reveal how we unconsciously develop as traders.

We narrow the four corners of development into two areas, consciousness and competence;

 

* Unconsciously incompetent

* Consciously incompetent

* Consciously competent

* Unconsciously competent

 

These four key development stages are broken down like this: … read the full article

http://blog.fxcc.com/the-four-corners-of-trader-development

 

Source: FX Central Clearing Ltd. (FXCC BLOG)

[alayoua]

The Swish of the Swiss

 

The Swish of the Swiss

 

The new or rather renewed phrase on every bodies lips after yesterday’s stunning bombshell, (delivered with precise laser guidance by the Swiss central bank), is “currency wars”. Previously this phrase had been reserved for the supposed currency disagreements between the USA administration and Chinese officials. The accusation, that the Chinese were manipulating their currency to the detriment of world trade and in particular the dollar’s purchasing power, was an accusation (arguably misplaced) that was re-produced throughout most mainstream media channels for the majority of 2010-2011. Extending the war analogy further ‘friendly fire’ is now incoming from the least likely source..

 

There is no “currency warfare”, the attraction of the Swiss franc and their banking system for the wealthy has existed for decades. Once central governments and banks adopted zirp policy, combined with injections of huge liquidity into the global financial system, it was inevitable that the Swiss would ‘suffer’ currency flight and wealth flight… read the full article

http://blog.fxcc.com/the-swish-of-the-swiss

 

Source: FX Central Clearing Ltd. (FXCC BLOG)

[alayoua]

Daily Technical Levels from FXCC 08 Sep 2011

 

Daily Technical Levels from FXCC 08 Sep 2011

 

 

EUR/USD

Intraday Technical Levels:

 

Pivot: 1.4110.

Preference: SHORT positions @ 1.41 with 1.401 & 1.3975 in sight.

Alternative Scenario: The upside penetration of 1.411 will call for a rebound towards 1.415 & 1.42.

Comment: the pair stands below its resistance and remains under pressure.

 

USD/JPY

Intraday Technical Levels:

 

Pivot: 77.50.

Preference: SHORT positions @ 77.45 with 77.05 & 76.8 in sight.

Alternative Scenario: The upside penetration of 77.5 will call for 77.7 & 77.85.

Comment: the pair is posting a rebound but stands below its resistance.

 

GBP/USD

Intraday Technical Levels:

 

Pivot: 1.6000.

Preference: SHORT positions @ 1.599 with 1.5915 & 1.5875 in sight.

Alternative Scenario: The upside breakout of 1.6 will open the way to 1.6055 & 1.61.

Comment: the pair is capped by a declining trend line and remains under pressure, the RSI is mixed to bearish.

 

Daily Technical Levels from fxcc.com

Source: FX Central Clearing http://www.fxcc.com

[alayoua]

The market giveth and the market take away

 

The market giveth and the market take away

 

Since the Swiss national bank ‘took out’ a series of trading pairs with their determination to in effect ‘peg’ the franc, the CHF pairs have been virtually untradeable. Even from a potential position trade perspective many currency investors and speculators have been left scratching their heads as to where we go next…

 

You’d struggle to find bigger currency news this year than the shift in policy that the SNB announced on Tuesday, however, they may have been trumped with the news that China is considering a shift in policy. Chinese officials have informed European Union business executives that the yuan will achieve “full convertibility” by 2015 the EU Chamber of Commerce in China President Davide Cucino said.

 

U.S. Vice President Joe Biden might need to remind himself of the phrase “be careful what you wish for”, China has amassed record foreign-exchange reserves of $3.2 trillion by selling yuan to curb its appreciation and €1.5 trillion is USA treasury debt. Biden apparently asked (told) his counterpart Xi Jinping during his state visit on August 18th that China must address its undervalued exchange rate whilst removing import barriers to spur trade and investment. However, a fully ‘floated’ convertible currency would arguably test the dollar’s ultimate reserve status far more than the Euro has. The yuan advanced 0.12 percent to 6.3863 per dollar in Shanghai, according to China Foreign Exchange Trade System. The currency has gained 6.4 percent in the past year and touched a 17 year high of 6.3705 on Aug. 30. Its 0.9 percent advance in August was the biggest in 2011… Read the full article

http://blog.fxcc.com/the-market-giveth-and-the-market-take-away

 

Source: FX Central Clearing Ltd. (FXCC BLOG)

[alayoua]

Update Daily Technical Levels from FXCC 08 Sep 2011

 

Update Daily Technical Levels from FXCC 08 Sep 2011

 

EUR/USD

Intraday Technical Levels:

 

Pivot: 1.411

Preference: Short positions below 1.411 with targets @ 1.401 & 1.3975 in extension.

Alternative Scenario: Above 1.411 look for further upside with 1.415 & 1.42 as targets.

Comment: the pair is capped by a declining trend line and is shaping a triangle pattern.

 

USD/JPY

Intraday Technical Levels:

 

Pivot: 77.5

Preference: Short positions below 77.5 with targets @ 77.05 & 76.8 in extension.

Alternative Scenario: Above 77.5 look for further upside with 77.7 & 77.85 as targets.

Comment: the pair is under pressure and is approaching its support.

 

GBP/USD

Intraday Technical Levels:

 

Pivot: 1.6055

Preference: Short positions below 1.6055 with targets @ 1.595 & 1.5915 in extension.

Alternative Scenario: Above 1.6055 look for further upside with 1.61 & 1.614 as targets.

Comment: the pair is posting a rebound but remains capped by a declining trend line.

 

Daily Technical Levels from fxcc.com

Source: FX Central Clearing http://www.fxcc.com

[alayoua]

Daily Technical Levels from FXCC 09 Sep 2011

 

Daily Technical Levels from FXCC 09 Sep 2011

 

 

EUR/USD

Intraday Technical Levels:

 

Pivot: 1.3970.

Preference: SHORT positions @ 1.396 with 1.3875 & 1.3815 in sight.

Alternative Scenario: The upside breakout of 1.397 will open the way to 1.402 & 1.411.

Comment: the RSI is capped by a declining trend line, the pair stands below its new resistance and remains

under pressure.

 

USD/JPY

Intraday Technical Levels:

 

Pivot: 77.30.

Preference: LONG positions @ 77.35 with 77.7 & 77.85 as next targets.

Alternative Scenario: The downside penetration of 77.3 will call for a slide towards 77.05 & 76.8.

Comment: the pair stands above its new support and remains on the upside.

 

GBP/USD

Intraday Technical Levels:

 

Pivot: 1.6025.

Preference: SHORT positions @ 1.6015 with 1.595 & 1.5915 as next targets.

Alternative Scenario: The upside penetration of 1.6025 will call for a rebound towards 1.6075 & 1.614.

Comment: The pair remains capped by a MT declining trend line, the RSI is turning down.

 

Daily Technical Levels from fxcc.com

Source: FX Central Clearing http://www.fxcc.com