01Aug

Week of August 1, 2008-American Session

Today’s non farm payroll report came in with a better than expected headline number of -57k versus -75k expected, plus slight upward revisons to last months report. However, the US dollar failed to sustain the intraday gains and currently trades within the 1.5550-1.5580 zone which essentially limited price action during most of today’s European sesssion. […]
30Jul

Week of July 30, 2008- European Session

The US Dollar made a broad rally yesterday as better than expected consumer confidence fueled the US dollar rally in a corrective move with yesterday’s EURUSD fall essentially limited by the 61.8% of the 1.5302-1.6037 rise at 1.5583, although prices did probe a bit lower reaching an intraday low of 1.5558. A daily close below […]
30Jul

Week of July 30, 2008-American Session

The EURUSD continued to move lower today reaching 1.5521 as of this writing. Look for prices to hold below 1.5568 as this is the 50.0% of today’s 1.5616-1.5521 fall, as with any strong trend 38.2’s and 50’s tend to hold and provide favorable entry points with trends. However, any sustained break of 1.5596 intraday would […]
27Jul

Week of July 27-August 1, 2008

Last week saw the EURUSD fail to sustain prices to the upside as our forecast for a 2 hour close below 1.5847 would favor further downside towards 1.5783 followed by 1.5737, as prices eventually reached 1.5628. The US dollar has made some recent gains since reaching the all time low against the Euro at 1.6037 […]
20Jul

Week on July 20-July 25, 2008

EURUSD reached last weeks initial target of 1.6017 but failed to sustain prices above this level as the pair subsequently corrected lower to 1.5783 which is just a few pips shy of the 61.8% of the 1.5611-1.6037 rise. EURUSD remained within the 61.8%-38.2% of the 1.5611-1.6037 rise as a 2 hour close above 1.5931 will […]
18Jul

Week of July 18, 2008

As the week began, our outlook for the week was for a move lower in the US dollar and specifically a move higher in the EURUSD with the initial target at 1.6017 which was achieved. Once the EURUSD reach 1.6037, a few pips beyond our initial target, the US dollar corrected lower and saw the […]
17Jul

Week of July 17, 2008

The market has been bit whip saw today, especially in the US Dollar pairs as the EURUSD remains in a consolidation pattern from the 1.5302-1.6037 rise, while the 38.2% of the 1.6037-1.5799 correction at 1.5890 continues to hold. The only pairs trending today were the JPY and CHF crosses as there was little to no […]
16Jul

Week of July 16, 2008-American Session Update

The FX market and the majors are consolidating the recent gains against the US dollar as the medium term and broad term outlook favors further US dollar weakness in the days ahead. In Asia today we saw broad Yen buying which enabled us to capture some small profits a EURJPY short trade and a AUDUSD […]
14Jul

Week of July 14, 2008

Last Friday saw EURUSD close the week at 1.5934, a new all time high weekly close, with the previous all time high weekly close occurring the week of April 13 at 1.5816. Essentially the FX market has been in a broad consolidation pattern as evidenced on the daily chart since achieving the all time high […]
13Jul

Week on July 13-July 18, 2008

EURUSD downside last week was limited by the 50% of the 1.5302-1.5907 rise as mentioned in last week’s outlook and closed the week at a new all time high weekly close at 1.5934. EURUSD rise from the June 13th low at 1.5302 remains active and now targets a retest of the April 22 high at […]

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