http://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/http://www.fxstreet.com/technical/http://mediaserver.fxstreet.com/images/fxstreet-provider-logo1-en.gif7http://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-04-01.v02.htmlThe U.S. Dollar is mounting a strong rally this morningagainst most major currencies in reaction to a slightly better than expectedMarch Non-Farm Payrolls Report. The actual number showed an increase of216,000. The March Unemployment Rate at 8.8% was the lowest in 2 years. Whilethese numbers are encouraging, they aren’t strong enough to change the courseof the Fed which is likely to maintain its quantitative easing program until itexpires in June.   With the European Central Bank expectedFri, 01 Apr 2011 14:10:13 GMThttp://www.fxstreet.com/technical/analysis-reports/info@forexhound.com (ForexHound.com)http://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-04-01.v02.htmlhttp://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-04-01.htmlAfter a successful test of the 1.4000 level, the Euro is once again posting strong gains as traders boost bets that the European Central Bank will begin raising interest rates as early as next week.   Given the recent news developments and chart pattern, the current price action suggests that this week’s bottoming action and subsequent rally were the result of both strong fundamental news and technical formations.   Technically, the Euro found support recently at 1.4020, slightlyFri, 01 Apr 2011 02:55:08 GMThttp://www.fxstreet.com/technical/analysis-reports/info@forexhound.com (ForexHound.com)http://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-04-01.htmlhttp://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-03-31.htmlThe AUD USD rose sharply overnight, negating Monday’s closing price reversal top on prospects global growth will boost demand for commodities. Trader sentiment has rapidly shifted toward risk as the markets appear to have absorbed the potentially bearish situations in Japan and the Middle East.   The rally to 1.0332 took the Aussie to its highest level since it was freely floated in 1983. The quick turnaround the past two days has helped form a new minor bottom at 1.0204. A trade throughThu, 31 Mar 2011 05:04:16 GMThttp://www.fxstreet.com/technical/analysis-reports/info@forexhound.com (ForexHound.com)http://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-03-31.htmlhttp://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-03-29.v02.htmlThe Euro is trading a little lower versus the U.S. Dollar this morning. Indecision seems to be the theme as traders mull over whether the European Central Bank has enough economic data to support an interest rate hike as early as next week. The lack of clarity and conviction from the ECB is helping to keep bullish traders on the sidelines at this time.   Support also seems to be building a little for the Greenback. Traders are trying to assess whether the Fed has seen enough economicTue, 29 Mar 2011 14:13:22 GMThttp://www.fxstreet.com/technical/analysis-reports/info@forexhound.com (ForexHound.com)http://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-03-29.v02.htmlhttp://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-03-28.htmlThis morning the GBP USD is trading lower following last week’s spectacular closing price reversal top . Based on the short-term range of 1.5345 to 1.6400, expectations are for a test of the retracement zone at 1.5873 to 1.5748.   Traders should watch for profit-taking to trigger a technical bounce in this zone if tested, especially since an uptrending Gann angle comes in at 1.5865. This creates a nice support cluster at which short-traders will likely consider lightening up or bullishMon, 28 Mar 2011 13:40:23 GMThttp://www.fxstreet.com/technical/analysis-reports/info@forexhound.com (ForexHound.com)http://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-03-28.htmlhttp://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-03-24.htmlThe Euro is rebounding this morning after a sharp sell-off on Wednesday. Pressure was on the single currency yesterday following the confirmation of a technical closing price reversal top the day before. Fundamentally, traders turned bearish on the currency after Moody’s Investors Service downgraded 30 Spanish banks and following the resignation of Portugal’s prime minister.   Sentiment has shifted overnight however as traders weighed the chances of a European Central Bank rate hikeThu, 24 Mar 2011 13:30:49 GMThttp://www.fxstreet.com/technical/analysis-reports/info@forexhound.com (ForexHound.com)http://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-03-24.htmlhttp://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-03-23.htmlThe Euro is trading lower after posting a high at 1.4247 on Tuesday and forming a closing price reversal top . Downside pressure overnight confirmed the chart pattern triggering what is likely to be a short-term retracement back to 1.4000 to 1.3947.   The short-term range is 1.3752 to 1.4247. Forming inside of this range is a set of uptrending Gann angles at 1.4072, 1.3968 and 1.3913, making for an interesting support cluster inside of the retracement zone at 1.4000 to 1.3947.  Wed, 23 Mar 2011 14:10:01 GMThttp://www.fxstreet.com/technical/analysis-reports/info@forexhound.com (ForexHound.com)http://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-03-23.htmlhttp://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-03-22.htmlThe GBP/USD jumped overnight on renewed talk of an interest rate hike by the Bank of England. Traders reacted positively to the news that the Office for National Statistics reported a rise in consumer inflation more than double the Bank of England’s 2% target. The actual report showed that inflation rose at a 4.4% annual pace in February, up from 4% in January. Economists and analysts had expected a smaller rise of 4.3%. After this morning’s report and subsequent explosive reaction, it becameTue, 22 Mar 2011 12:56:58 GMThttp://www.fxstreet.com/technical/analysis-reports/info@forexhound.com (ForexHound.com)http://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-03-22.htmlhttp://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-03-18.htmlThe Japanese Yen weakened for a second session against all of the major currencies in a move that many traders suspect is renewed selling pressure from the Group of Seven nations. Following a downward spike on Thursday to 76.37, the G-7 was asked to intervene in an effort to curb the Yen’s appreciation and help support the devastated Japanese economy. Some traders feel the Yen at 80.00 is probably the line in the sand that the Bank of Japan prefers. This level is roughly the price the marketFri, 18 Mar 2011 14:39:35 GMThttp://www.fxstreet.com/technical/analysis-reports/info@forexhound.com (ForexHound.com)http://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-03-18.htmlhttp://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-03-16.htmlAlthough some traders feel the Japanese Yen may be overextended to the upside, the currency is trading slightly better ahead of the start of the U.S. session. At this time there seems to be a tug of war developing between traders and investors.   Investors believe in the short side of the U.S. Dollar/Japanese Yen despite current relatively cheap prices near the psychological 80.00 area.  The investors are being driven by the thought that Japan will be a net recipient of capital overWed, 16 Mar 2011 13:40:50 GMThttp://www.fxstreet.com/technical/analysis-reports/info@forexhound.com (ForexHound.com)http://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-03-16.htmlhttp://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-03-15.htmlJapanese equity markets dropped sharply lower early Tuesday driven by panic selling investors after Prime Minister Naoto Kan said a “substantial amount” of radiation was leaking from a nuclear power plant. The weakness in Japan spread all over the world, sending some global markets to multi-month lows.   The U.S. Dollar is trading higher against most major currencies with the exception of the Japanese Yen. Commodity-linked currencies are getting hit very hard with the Australian Dollar,Tue, 15 Mar 2011 13:28:47 GMThttp://www.fxstreet.com/technical/analysis-reports/info@forexhound.com (ForexHound.com)http://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-03-15.htmlhttp://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2010-10-25.htmlThe U.S. Dollar is trading sharply lower against all major currencies after the Group of 20 finance ministers and central bankers over the weekend failed to come up with any plan to shore up the Greenback. The U.S. Dollar’s downtrend is likely to continue after the G-20’s joint committee warned of the need to move toward more “market-determined” currency exchange rates. This basically means no interference from the central banks. This same committee also said that a global economic recovery isMon, 25 Oct 2010 11:57:47 GMThttp://www.fxstreet.com/technical/analysis-reports/info@forexhound.com (ForexHound.com)http://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2010-10-25.htmlhttp://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-01-03.htmlDespite settling into a small range during the month of December following a sharp break from 1.4263 to 1.2955 during November, the Euro still remains vulnerable to additional downside pressure. Based on the June low at 1.1866 and the November high at 1.4263, the retracement zone at 1.3064 to 1.2781 remains the key downside target and support zone. The most recent low on the monthly chart is at 1.2955 which was technically a successful test of the 50% price level at 1.3064. If this lowMon, 03 Jan 2011 13:01:01 GMThttp://www.fxstreet.com/technical/analysis-reports/info@forexhound.com (ForexHound.com)http://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-01-03.htmlhttp://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-01-04.htmlThe USD JPY strengthened for a second day as traders turned a little more optimistic about a U.S. economic recovery. Traders are looking for a slight improvement in the U.S. jobs market this Friday. This is helping to support the idea that while the U.S. economy may not be boosting a strong uptrend, it is most likely building a stronger support base. According to a Bloomberg survey, the U.S. may have added 140,000 jobs and the unemployment rate may have eased to 9.7 from 9.8. Yesterday’s ISMTue, 04 Jan 2011 13:21:05 GMThttp://www.fxstreet.com/technical/analysis-reports/info@forexhound.com (ForexHound.com)http://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-01-04.htmlhttp://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-01-05.htmlThe Canadian Dollar declined for the first time in ten days after crude oil came under pressure and dropped below $90 per barrel. Earlier in the trading session, the currency fell against the U.S. Dollar on speculation economic growth would drive demand for the nation’s resources, which account for about half its export revenue. Besides the drop in oil prices pressuring the market, news that U.S. factory orders unexpectedly increased gave the Greenback a boost as thoughts shifted toward anWed, 05 Jan 2011 13:26:05 GMThttp://www.fxstreet.com/technical/analysis-reports/info@forexhound.com (ForexHound.com)http://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-01-05.htmlhttp://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-01-06.htmlThe lack of confidence in Australia’s growth prospects has been helping to pressure the AUD USD. Traders started selling the Aussie after reports surfaced that some economists were cutting short-term gross domestic product forecasts for Australia following recent flooding in the state of Queensland. Another issue facing Australia is uncertainty over the growth prospects in China during 2011. For years Australia has been one of the strongest global economic performers. This was because of theThu, 06 Jan 2011 13:27:30 GMThttp://www.fxstreet.com/technical/analysis-reports/info@forexhound.com (ForexHound.com)http://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-01-06.htmlhttp://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-01-07.htmlMost major Forex markets are trading lower this morning against the Dollar ahead of the release of the key U.S. Non-Farm Payrolls report for December. An unexpected surge in the ADP private employment data has encouraged analysts to upwardly adjust their pre-report guesses, leading traders to believe that today’s report will be better than previously forecast. Earlier in the week a MarketWatch survey showed that 143,000 jobs were created in December. Since the release of the ADP report, theFri, 07 Jan 2011 12:05:47 GMThttp://www.fxstreet.com/technical/analysis-reports/info@forexhound.com (ForexHound.com)http://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-01-07.htmlhttp://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-01-11.htmlThe EUR USD is trading slightly better overnight. Technically the main trend is down, but short-term indicators are oversold. The fundamentals are the main story this morning however. After briefing breaching support at 1.2968 the Euro reversed higher in the Asian market, after Japanese Finance Minister Yoshihiko Noda said his country plans to buy European Financial Stability Facility debt later this month. Noda’s efforts seem to be a goodwill gesture, citing the following as the main reasonTue, 11 Jan 2011 13:29:28 GMThttp://www.fxstreet.com/technical/analysis-reports/info@forexhound.com (ForexHound.com)http://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-01-11.htmlhttp://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-01-12.htmlThe Australian Dollar rebounded overnight, erasing earlier losses and putting the market in a position to post a daily closing price reversal bottom . The rally seems to be technically related as it occurred following a test of a major Fibonacci retracement level at .9812. Based on the current main swing of 1.0256 to .9803, traders should look for the start of a possible retracement to 1.0029 – 1.0083. First, however, the Aussie has to break through a downtrending resistance angle at .9936. AWed, 12 Jan 2011 12:37:11 GMThttp://www.fxstreet.com/technical/analysis-reports/info@forexhound.com (ForexHound.com)http://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-01-12.htmlhttp://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-01-14.htmlThe Euro is trading slightly lower after a breakout over the last swing top at 1.3434 failed to attract fresh buyers. Although the move through this level turned the main trend to up on the daily chart, the lack of momentum indicates the market may pull-back, allowing bullish traders to regroup, before moving higher. The strong rally on Thursday may also be playing a big part in this morning’s weakness. Yesterday, the Euro traded at 1.3358 from a session low at 1.3129. This move may haveFri, 14 Jan 2011 14:04:39 GMThttp://www.fxstreet.com/technical/analysis-reports/info@forexhound.com (ForexHound.com)http://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-01-14.htmlhttp://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-01-18.htmlThe Euro and the British Pound are rising against the Greenback, sending the Dollar Index to its lowest level since November. The Euro is appreciating amid speculation European central banks will be quicker to increase borrowing costs following last week’s hawkish comments from European Central Bank President Trichet. In addition, there is speculation that the Euro region’s policymakers will succeed in preventing the sovereign debt crisis from deepening. One key factor driving the singleTue, 18 Jan 2011 13:14:25 GMThttp://www.fxstreet.com/technical/analysis-reports/info@forexhound.com (ForexHound.com)http://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-01-18.htmlhttp://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-01-19.htmlThe British Pound is trading inside yesterday’s range after posting a strong gain on Tuesday for the ninth consecutive day. Despite overnight efforts to break the Sterling, it was able to hold its ground on the heels of an unexpected drop in U.K. jobless claims in December. The report showed that this key economic indicator dropped to its lowest level in 21 months. On Tuesday the Pound gained considerable ground versus the Greenback after a report showed consumer price inflation had exceededWed, 19 Jan 2011 13:42:44 GMThttp://www.fxstreet.com/technical/analysis-reports/info@forexhound.com (ForexHound.com)http://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-01-19.htmlhttp://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-01-20.htmlWith the Euro rapidly approaching the major retracement zone at 1.3577 to 1.3744, traders have to be asking themselves if overcoming this area means investors are betting on a rate hike by the European Central Bank or do they believe that Europe is overcoming its fiscal problems. The aforementioned retracement zone was created by the November 4 top at 1.4282 and the January 10 bottom at 1.2873. At this time when the Euro was topping, there were concerns over Ireland’s austerity budget. InThu, 20 Jan 2011 12:52:41 GMThttp://www.fxstreet.com/technical/analysis-reports/info@forexhound.com (ForexHound.com)http://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-01-20.htmlhttp://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-01-21.htmlAfter changing the main trend to up on the daily chart on the breakout through 1.5911, the British Pound appears to be shifting to a corrective mode which may mean the start of a short-term correction to 1.5702 to 1.5618. Overbought conditions and the lack of buying interest at the current price level seem to be the two main reasons for anticipating a near-term pull-back. While the uptrend is expected to remain intact, bullish traders may be lightening up on their long positions, choosingFri, 21 Jan 2011 13:10:40 GMThttp://www.fxstreet.com/technical/analysis-reports/info@forexhound.com (ForexHound.com)http://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-01-21.htmlhttp://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-01-25.htmlThe British Pound is trading flat to slightly higher this morning after it was reported that the U.K. economy unexpectedly contracted in the final quarter of 2010. Fourth-quarter gross domestic product declined by 0.5% compared to the previous quarter. This was the first decline since the third quarter of 2009. The report also severely missed pre-report forecasts calling for a 0.4% rise. While the Office for National Statistics wanted to blame the bulk of the decline to weather, economistsTue, 25 Jan 2011 18:27:48 GMThttp://www.fxstreet.com/technical/analysis-reports/info@forexhound.com (ForexHound.com)http://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-01-25.htmlhttp://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-01-26.htmlThe U.S. Dollar fell against the major currencies after President Obama, during his State of the Union address, failed to convince executives and economists that he’s serious about controlling the U.S. budget deficit. Although Obama did propose a partial freeze on government spending, many participants at the economic summit in Davos, Switzerland still felt the U.S. is lagging their foreign counterparts in cutting a record budget deficit of more than $1.2 trillion. The opinions on Obama’sWed, 26 Jan 2011 14:05:26 GMThttp://www.fxstreet.com/technical/analysis-reports/info@forexhound.com (ForexHound.com)http://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-01-26.htmlhttp://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-01-27.htmlThe Euro continues to climb higher this morning, challenging the .618 retracement level of the 1.4282 to 1.2873 at 1.3744. There may be a technical bounce off this level, but this action will most likely represent profit-taking rather than a change in trend. Both technical and fundamental factors are supporting the rally at this time, so if a top is formed it will come as a surprise. Fundamentally, the Euro is benefitting from several factors including improving economies in the Euro Zone,Thu, 27 Jan 2011 15:07:03 GMThttp://www.fxstreet.com/technical/analysis-reports/info@forexhound.com (ForexHound.com)http://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-01-27.htmlhttp://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-01-28.htmlThe Euro was trading inside of Thursday’s range as traders waited for the release of the U.S. 4Q GDP number. Upon the release of the report, the Euro had a violent, two-directional move before settling near the center of the overnight range. This morning’s report showed that the economy grew at a solid 3.2 percent annual rate on top of the 2.6 percent pace in the third quarter. Although 4Q GDP rose, it still fell short of pre-report estimates of a 3.5 percent increase. The gain and the missFri, 28 Jan 2011 14:39:47 GMThttp://www.fxstreet.com/technical/analysis-reports/info@forexhound.com (ForexHound.com)http://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-01-28.htmlhttp://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-01-31.htmlThe flight to safety rally into the U.S. Dollar fizzled overnight, putting downside pressure on the Greenback. Continued unrest in Egypt has been sending investors scurrying into the safe-haven appeal of lower-yielding currencies, but it looks like this morning that the Japanese Yen is the currency of choice. Volatility could be the theme this week in the foreign currency markets. Not only will the political turbulence in Egypt be on the forefront, but traders will also have to deal with EuroMon, 31 Jan 2011 14:28:40 GMThttp://www.fxstreet.com/technical/analysis-reports/info@forexhound.com (ForexHound.com)http://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-01-31.htmlhttp://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-02-01.htmlThe Dollar is getting hit hard thismorning as trader sentiment has shifted back toward risk, forcing bullishtraders to unwind flight-to-safety positions initiated late last week. In overnight news, the AustralianDollar rose against the U.S. Dollar after the Australian central bank kept itskey cash rate on hold at 4.75%. The Aussie is rallying on the thought thatinterest rates will remain firm until the end of the year. Technically, the Australian Dollarsurged to the upside following theTue, 01 Feb 2011 14:37:23 GMThttp://www.fxstreet.com/technical/analysis-reports/info@forexhound.com (ForexHound.com)http://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-02-01.htmlhttp://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-02-02.htmlThe Dollar lost ground against the Euro overnight in Asian trading as investors continued to speculate that the European Central Bank will mention its concerns about inflation in Thursday’s policy statement. Following the last policy announcement on January 13, the Euro surged from 1.3088 to 1.3383 after the ECB hinted that it was concerned about inflation. Although slight improvements in the Euro Zone economies and successful bond auctions by debt ridden nations have been cited as reasons forWed, 02 Feb 2011 13:29:06 GMThttp://www.fxstreet.com/technical/analysis-reports/info@forexhound.com (ForexHound.com)http://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-02-02.htmlhttp://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-02-03.htmlThe Euro’s closing price reversal top on Wednesday was confirmed overnight, indicating that the market may retrace back to 1.3716 to 1.3681 over the near-term. Technically the main trend remains up unless 1.3570 is taken out; however, a closing price reversal top is often the trigger that begins a change in trend. Look for the ECB to announce no change in its interest rate policy statement which will be released early this morning. All eyes, however, we be focused on ECB President Jean-ClaudeThu, 03 Feb 2011 12:54:33 GMThttp://www.fxstreet.com/technical/analysis-reports/info@forexhound.com (ForexHound.com)http://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-02-03.htmlhttp://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-02-04.htmlThe Forex markets are quiet this morning ahead of the U.S. Non-Farm Payrolls report for January. Economists are looking for a rise of 145,000. A greater number will likely trigger a rally in risky currencies. A lower than forecast number could support the Dollar. A strong number is not likely to have that much of a bullish influence on the Euro because of the market’s reaction to Trichet’s comments yesterday. On Thursday the Euro fell 1.2% against the U.S. Dollar. As expected, the EuropeanFri, 04 Feb 2011 14:01:37 GMThttp://www.fxstreet.com/technical/analysis-reports/info@forexhound.com (ForexHound.com)http://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-02-04.htmlhttp://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-02-07.htmlMost major Forex markets are trading in tight narrow ranges following the expanded range trade on Friday triggered by the release of the U.S. Non-Farm Payrolls report. With Non-Farm Payrolls coming in well below pre-report guesses and the Unemployment Rate dropping unexpectedly, on the surface the report appeared to be bearish for the Dollar, but the response by the U.S. Treasury markets seems to be indicating the opposite. U.S. Treasury yields soared to their highest level in more than nineMon, 07 Feb 2011 13:25:40 GMThttp://www.fxstreet.com/technical/analysis-reports/info@forexhound.com (ForexHound.com)http://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-02-07.htmlhttp://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-02-08.htmlThe Australian Dollar is under pressure overnight following a rate hike by China’s central bank. The 25 basis point rise to 3 percent is the second attempt in just over a month to fight against inflation. The interest rate increase is an attempt to slow down the world’s number 2 economy. Although the rate hike did not come as a surprise some traders still feel that rising rates will mean more pressure on higher risk currencies. The Australian Dollar is one of these currencies which would beTue, 08 Feb 2011 13:22:34 GMThttp://www.fxstreet.com/technical/analysis-reports/info@forexhound.com (ForexHound.com)http://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-02-08.htmlhttp://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-02-09.htmlThe Australian Dollar is under pressure overnight.  A new main top has been formed at 1.0200, setting up a possible retracement to 1.0033 to .9993. Yesterday’s interest rate hike by China’s central bank is expected to slow down a heated up economy. This may lead to a slowdown in demand for Australian goods and services. Traders are expected to lighten up long positions, driving the Aussie into the retracement zone over the near-term. The Euro is at an important transition zone. The windWed, 09 Feb 2011 13:44:26 GMThttp://www.fxstreet.com/technical/analysis-reports/info@forexhound.com (ForexHound.com)http://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-02-09.htmlhttp://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-02-11.htmlThe focus this morning will be on the Bank of England policy decision. Expectations are for the BoE to leave its benchmark interest rate unchanged at 0.50%. The BoE’s Monetary Policy Committee discussion is going to focus on surging inflationary pressure and slowing growth. Inflation is soaring well above its 2% medium-term target but financial austerity measures have hurt prospects for economic growth. The consensus is calling for the BoE to begin hiking interest rates during the firstFri, 11 Feb 2011 04:47:25 GMThttp://www.fxstreet.com/technical/analysis-reports/info@forexhound.com (ForexHound.com)http://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-02-11.htmlhttp://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-02-11.v02.htmlThe U.S. Dollar’s trend turned up against most major currencies after European debt worries triggered the shedding of risky assets. Risk aversion was back on the table after a spike in Portuguese bond yields led to liquidation in the Euro. Further fueling the weakness in the Euro and commodity-linked currencies is the political situation in Egypt. News that Egyptian President Hosni Mubarak will transfer power following an election later this year disappointed the protesters, leaving the entireFri, 11 Feb 2011 13:06:17 GMThttp://www.fxstreet.com/technical/analysis-reports/info@forexhound.com (ForexHound.com)http://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-02-11.v02.htmlhttp://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-02-14.htmlFundamentally and technically related pressure continues to mount on the Euro this morning. Technically the main trend is down on the daily chart. With downside momentum beginning to pick up, a support cluster target zone has been identified today at 1.3373 – 1.3367. Fundamentally, European finance ministers are finally preparing to attack the lingering problem of regional sovereign debt. The officials are expected to develop a comprehensive plan which addresses the Euro’s vulnerabilities byMon, 14 Feb 2011 13:16:44 GMThttp://www.fxstreet.com/technical/analysis-reports/info@forexhound.com (ForexHound.com)http://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-02-14.htmlhttp://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-02-15.htmlThe British Pound is trading higher this morning after it was reported that annual inflation soared to 4.0 percent in January. This rate was the highest level for more than two years. The increase was 0.3 percent higher than December’s 3.7 percent, but lower than analysts’ consensus forecast for a year-on-year rise to 4.2 percent. Despite missing the pre-report guess, the rate at 4.0 percent, the highest since November 2008, was double the Bank of England’s target rate of 2.0 percent. ThisTue, 15 Feb 2011 14:10:37 GMThttp://www.fxstreet.com/technical/analysis-reports/info@forexhound.com (ForexHound.com)http://www.fxstreet.com/technical/analysis-reports/the-forex-technical-report/2011-02-15.html