Daily Trading Forecast

0

0
Greenback Steady, Some Correction Moves
Mon, Oct 6 2008, 10:39 GMT
by Swiss e Trade Strategy Team
Swiss e Trade AG
Renewed turmoil at the beginning of the week, this time in the world equity markets due to genuine sorrows about the global economy, did not hurt the USD’s bullish stance in early European trading. It is just consolidating its levels, with a downward correction move to come in right now.
We expect this correction / consolidation stance to continue in today’s market, with the trading ranges explained below. No data known as market movers will be released today.
by George Clement
Intraday Market Outlook for Day Traders
EUR / USD
The euro is currently trading at 1.3563 near its year’s low. This level represents a long-term support, which we expect to hold in today’s trading. We see upward corrections setting in soon, bringing the market to prices around 1.3650.
GBP / USD Trading in narrow ranges, cable currently is priced at 1.7585, near its recent lows at 1.7517. We see this level not being tested again in today’s trading and expect further upward moves to the resistance level at 1.7640.
USD / CHF The dollar moved into overbought territory against the Swiss franc this European morning, trading currently at 1.1436. We expect downward corrections to the 1.1360 support level in today’s trading.
USD / JPY The dollar lost further ground against the yen in late Asian trading and recovered only slightly this European morning. Currently trading at 103.29, we don’t see much upward correction and expect the recent lows at 102.84 to be tested again.
Published on
Mon, Oct 6 2008, 10:41 GMT
Archive
- Euro, Pound: Pause for Breath
Published On Tue, Feb 9 2010, 11:00 GMT
- JPY, USD: Safe Haven Bidding Continues
Published On Mon, Feb 8 2010, 11:08 GMT
- EUR / USD: Euro's Value Now Under Scrutiny by Portugal, Spain
Published On Fri, Feb 5 2010, 10:56 GMT
- Dollar Still Flexing Muscles
Published On Thu, Feb 4 2010, 11:11 GMT
- AUD, CAD, NZD: Listening to Fine Tunes
Published On Wed, Feb 3 2010, 11:06 GMT
[ View All ]
Swiss e Trade AG
| Alfred-Escher-Strasse 26 8002 Zurich
http://www.swissetrade.com/ | info@swissetrade.com
Legal disclaimer and risk disclosure
Swiss e Trade AG shall not be responsible for any loss arising from any investment based on any recommendation, forecast or other information herein contained. The contents of this publication should not be construed as an express or implied promise, guarantee or implication by Swiss e Trade that clients will profit from the strategies herein or that losses in connection therewith can or will be limited. Trades in accordance with the recommendations in an analysis, especially leveraged investments such as foreign exchange trading and investment in derivatives, can be very speculative and may result in losses as well as profits, in particular if the conditions mentioned in the analysis do not occur as anticipated.
Related reports
USDJPY Chartist Analysis by FXBoss
Tue, Feb 9 2010, 15:45 GMT
USD lower pressured by Greek rescue hopes by Easy Forex
Tue, Feb 9 2010, 15:22 GMT
Euro is catching a breather on Tuesday by Wells Fargo Investments, LLC
Tue, Feb 9 2010, 14:54 GMT
Hopes of tackling budget deficit in Greece sap demand on refuges by ecPulse.com
Tue, Feb 9 2010, 14:49 GMT
Currency Majors Technical Perspective by FXstreet.com Independent Analyst Team
Tue, Feb 9 2010, 14:27 GMT
eurusd, gbpusd, usdchf, usdjpy
[ View All ]
Related content
Stocks rallied; Dollar retreats
FXstreet.com | Tue, Feb 9 2010, 21:05 GMT
Forex: GBP/USD pulls back below 1.5700
FXstreet.com | Tue, Feb 9 2010, 20:11 GMT
Forex: EUR/USD holds below 1.3800
FXstreet.com | Tue, Feb 9 2010, 18:57 GMT
Forex: USD/JPY finds support at 89.30
FXstreet.com | Tue, Feb 9 2010, 18:39 GMT
Forex: EUR/USD tests 1.3840 and falls to 1.3780 again
FXstreet.com | Tue, Feb 9 2010, 17:48 GMT
eurusd, gbpusd, usdchf, usdjpy
[ View All ]
The Samurai Trader » EURUSD - Watch this level (13775)
Tue, Feb 9 2010, 14:57 GMT
The Samurai Trader » EURUSD - Trying to break the triangle
Tue, Feb 9 2010, 14:56 GMT
Trading for a living » From support to resistance, from resistance to support…
Tue, Feb 9 2010, 12:13 GMT
The Samurai Trader » EURUSD - Pausing at the previous high
Tue, Feb 9 2010, 12:11 GMT
The Day Job Trader » Slim Pickings for Bargain Hunters
Tue, Feb 9 2010, 07:28 GMT
eurusd, gbpusd, usdchf, usdjpy
[ View All ]
GBP-USD Technical Analysis - Forex Forum - FXstreet.com
Thu, Feb 4 2010, 09:02 GMT
Question about EURUSD - Forex Forum - FXstreet.com
Tue, Dec 29 2009, 09:16 GMT
Analysis on gbpusd, gbpjpy eurusd - Forex Forum - FXstreet.com
Thu, Dec 10 2009, 08:17 GMT
The Cable Experiment - Forex Forum - FXstreet.com
Wed, Dec 9 2009, 13:52 GMT
Profitable oilfxpro daily cable breakout system - Forex Forum - FXstreet.com
Wed, Dec 9 2009, 13:26 GMT
eurusd, gbpusd, usdchf, usdjpy
[ View All ]
Outlook for the major currencies this week
Ian Copsey | Tue, Sep 30 2008, 08:00 GMT
FX Instructor Live Trading Room
Mark De La Paz | Tue, Sep 30 2008, 11:00 GMT 
FX Instructor Live Trading Room
Mark De La Paz | Wed, Oct 1 2008, 09:00 GMT
Weekly Webinar: 1st on Forex - The Week Ahead
Jerry Furst | Mon, Oct 6 2008, 16:00 GMT
Outlook for the major currencies this week
Ian Copsey | Tue, Oct 7 2008, 08:00 GMT
eurusd, gbpusd, usdchf, usdjpy
[ View All ]