http://www.fxstreet.com/technical/forex-strategy/fx-trend-report/http://www.fxstreet.com/technical/http://mediaserver.fxstreet.com/images/fxstreet-provider-logo1-en.gif7http://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-03-18.htmlThe DXY (US Dollar Index), EUR/USD and USD/CHF have formed wedges within their respective daily RSI oscillators. The latest trend of dollar weakness should continue while these formations remain intact. A substantial move above the EUR/USD's 10-week MA at 1.3804 would shift the immediate focus to 1.3853-1.4025, an Elliot wave target region (also near the 38.2 & 50% retracement of the downleg from the Jan 13th high). Above 1.4211, however, negates the current wave count and would suggest aThu, 18 Mar 2010 10:44:26 GMThttp://www.fxstreet.com/technical/forex-strategy/sales@informagm.com (Informa Global Markets)http://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-03-18.htmlhttp://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-03-12.htmlThe Australian Dollar is trading within a wedge formation vs the US Dollar, British Pound, Japanese Yen and the euro. Price-action is also diverging against 4-hourly MACD, which hints of a possible reversal. Below .9140 (AUD/USD) will confirm that a larger correction is in store. Meanwhile, a daily close above .9170 (AUD/USD) suggests further strength and could trigger a possible retest of .9334 (January highs).Fri, 12 Mar 2010 17:47:40 GMThttp://www.fxstreet.com/technical/forex-strategy/sales@informagm.com (Informa Global Markets)http://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-03-12.htmlhttp://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-03-03.htmlWhile concerns over European sovereign debt persist, euro bulls have several technical reasons to be optimistic. Despite marking a fresh 2010 low, the EUR/USD's subsequent snapback continues to respect a key Fibonacci retracment on a closing basis (1.3486 - 61.8% of the March/December 2009 rebound). Moreover, today's marginal break of 1.3444 (last Friday's low) could now potentially mark a double bottom (above 1.3665 confirms). Daily bullish RSI & MACD divergence and ongoing pressure ofWed, 03 Mar 2010 09:41:30 GMThttp://www.fxstreet.com/technical/forex-strategy/sales@informagm.com (Informa Global Markets)http://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-03-03.htmlhttp://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-02-25.htmlThe EUR/USD appears to be completing a fifth wave within a larger third wave move that originates from the November 26th/December 3rd 2009 double top. The formation of a 3-week falling wedge or ending diagonal, which often appears in the fifth wave position, further supports the beginning of a larger fourth wave correction. While speculators continue to add to an already record net short position against the euro (according to the latest CFTC IMM data), the formation of a daily RSI baseThu, 25 Feb 2010 08:26:42 GMThttp://www.fxstreet.com/technical/forex-strategy/sales@informagm.com (Informa Global Markets)http://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-02-25.htmlhttp://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-02-18.htmlThe DXY's (US Dollar Index) 50-day MA has broken above it's 200-day MA to signal further strength in the medium-term. This is the first golden cross since the third quarter of 2008 and only the third since the bear market began in 2002. More importantly, the Greenback has experienced this bullish crossover in the early stages of both major corrective recoveries (2005 & 2008). Oversold hourly dips near the 20-day MA would present an actractive entry point.Thu, 18 Feb 2010 09:26:28 GMThttp://www.fxstreet.com/technical/forex-strategy/sales@informagm.com (Informa Global Markets)http://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-02-18.htmlhttp://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-02-11.htmlWhile Gold continues to be a high beta risk trade, the 9-period daily RSI has formed an important base just above the 30 region. Back in December, RSI initally based above the oversold threshold when Gold rebounded off bull trendline support (off the October 2009 low). The subsequent RSI base at the end of January (above 30 again), triggered a rebound off a 15-month bull trendline. The brief counter-trend recovery ran into a triple failure of sorts. The same trendline that had previouslyThu, 11 Feb 2010 11:18:00 GMThttp://www.fxstreet.com/technical/forex-strategy/sales@informagm.com (Informa Global Markets)http://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-02-11.htmlhttp://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-02-02.htmlGold's rebound was fueled by daily bullish MACD divergence and positive diverging 4-hourly studies, highlighting 15-month bull trendline support. Last week's marginal probe below the December swing low (1074.00 - 22 Dec) triggered a false-break and could ultimately mark a double bottom base (only above 1162.45 confirms). The latest rally has now retraced 38.2% of the losses off the 2010 high (1162.45 - 11 Jan) and next eyes the 1118.40 region (08/13 Jan lows & 21 Jan high). This key pivotTue, 02 Feb 2010 09:48:12 GMThttp://www.fxstreet.com/technical/forex-strategy/sales@informagm.com (Informa Global Markets)http://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-02-02.htmlhttp://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-01-27.htmlGold broke below a 5-month trendline late last week and has since found temporary support at the rising 100-day MA and at 1086.59, a 50% extension target (the December bear correction projected from the January high). Bullish RSI divergence (4-hourly charts) suggests temporary stabilization that could retest the 1118.40 former pivot, where the 5-month (now internal) trendline lies. A close below 100-day MA support (now at 1088.34), however, points to a retest of the December 2009 lowWed, 27 Jan 2010 10:13:45 GMThttp://www.fxstreet.com/technical/forex-strategy/sales@informagm.com (Informa Global Markets)http://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-01-27.htmlhttp://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-01-22.htmlDiverging daily & weekly studies (RSI & MACD) have supported the latest recovery off 1.0223, just above obvious support at 1.0203 (2009 low - 15 Oct). Clearing the falling 20-day MA on Wednesday has stabilized the outlook and could mark last week's low as the second point of a 3-month double bottom. In the meantime, bulls seek a retest of 1.0583 (30 Dec high), near the stubborn 20-week MA. As mentioned last week, the USD/CAD's 20-week MA has capped (on a closing basis) recoveryFri, 22 Jan 2010 10:16:11 GMThttp://www.fxstreet.com/technical/forex-strategy/sales@informagm.com (Informa Global Markets)http://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-01-22.htmlhttp://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-01-20.htmlThe DXY's 10-week MA, which provided resistance for much of the move down to the 2009 low, has reverted to support (and has reverted to resistance for the EUR/USD). The EUR/USD's lack of weekly RSI divergence suggest a move to 1.40, the 50% retracement of bull market bounce off 1.2880. Only a weekly close above the falling 10-week MA (now at 1.4540) will shift the focus back towards 1.4680 (50% retracement of the 1.5142/1.4220 decline).Wed, 20 Jan 2010 10:18:27 GMThttp://www.fxstreet.com/technical/forex-strategy/sales@informagm.com (Informa Global Markets)http://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-01-20.htmlhttp://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-01-15.htmlThe USD/CAD's 20-week MA has steadily provided resistance since late 2009. The December 30th lower high rejected at the 20-day MA to signal the end of the consolidative recovery. This week's struggle at the 10-day MA has triggered further weakness that marks a fresh 3-month low. Diverging daily & weekly studies, however, support the possibility of a rebound near or just below obvious support in the 1.02 region (October 2009 low). The falling 10-day MA (now at 1.0361) will be the firstFri, 15 Jan 2010 09:12:09 GMThttp://www.fxstreet.com/technical/forex-strategy/sales@informagm.com (Informa Global Markets)http://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-01-15.htmlhttp://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-01-13.htmlThe Japanese Yen has enjoyed a comeback of sorts. Friday's rejection at the 200-day MA was led by diverging daily studies and the latest bout of risk aversion has pushed the USD/JPY down significantly. The next level of support to watch is 90.40, since it marks a 38.2% retracement and an equality target. A sustained close below targets the 88.27 level, where a daily Ichimoku cloud, the 61.8% retracement and a 1.618 Fibonacci target lie. Dips below these pivots (that demonstrate hourly bullishWed, 13 Jan 2010 09:19:09 GMThttp://www.fxstreet.com/technical/forex-strategy/sales@informagm.com (Informa Global Markets)http://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-01-13.htmlhttp://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2009-11-19.htmlBoth the DXY (US Dollar Index) and EUR/USD have formed triangle patterns within their respective 9-period daily RSI indicators. A break above RSI formation resistance & above 1-week trendline resistance at 1.4990 should reinvigorate EUR/USD bulls back towards the 1.5030-65 zone, above which exposes channel & wedge resistance at 1.5190. Below RSI formation support, however, coupled by a loss of the 50-day MA at 1.4808 (projected) would shift near-term expectations towards the bottom ofThu, 19 Nov 2009 10:40:36 GMThttp://www.fxstreet.com/technical/forex-strategy/sales@informagm.com (Informa Global Markets)http://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2009-11-19.htmlhttp://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2009-11-16.htmlWith all the media focus attributing strength in the stock market to weakness in the US Dollar, I believe this correlation is being misrepresented and is often misunderstood. In fact, I believe the exact opposite, that the exuberance seen in equity prices (coupled with the record high price of Gold) is driving the DXY (Dollar Index) lower. It was the stock market (the financial stocks such as Lehman Brothers to be more specific) that initially created market panic and risk aversion world-wide.Mon, 16 Nov 2009 10:14:49 GMThttp://www.fxstreet.com/technical/forex-strategy/sales@informagm.com (Informa Global Markets)http://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2009-11-16.htmlhttp://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2009-11-12.htmlIf the double top scenario for the EUR/USD (and double bottom for the DXY) is negated, the 1.5190 region is next targeted (wedge, channel & RSI projections). Meanwhile, the structure remains bullish until the 50-day & 10-week MA's are decisively broken to the downside.Thu, 12 Nov 2009 09:22:37 GMThttp://www.fxstreet.com/technical/forex-strategy/sales@informagm.com (Informa Global Markets)http://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2009-11-12.htmlhttp://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2009-11-05.htmlThe EUR/USD found support near the 50-day MA, forming the base of a 3-month bullish channel. The 40 level on RSI provided support once again, allowing a test of the bull channel's midpoint near the 1.49 handle. A failure here could provide an opportunity to retest the 50-day MA & channel support at 1.4655/85. Clearance suggests a retest of recent highs made in October.Thu, 05 Nov 2009 18:59:39 GMThttp://www.fxstreet.com/technical/forex-strategy/sales@informagm.com (Informa Global Markets)http://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2009-11-05.htmlhttp://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2009-10-22.htmlThe US Dollar Index failed once again at the key 10-day MA. This allowed the EUR/USD to advance above the 1.50 threshold and now possibly sets the stage for further weakness towards the Greenback. The absence of weekly divergence and lack of substantial resistance leave room for the EUR/USD to advance towards the 1.52 region, unless risk aversion reappears as it did in the final hour of North American trade Wednesday. Either way, the 10-day MA has become the proverbial line in the sand for theThu, 22 Oct 2009 09:13:44 GMThttp://www.fxstreet.com/technical/forex-strategy/sales@informagm.com (Informa Global Markets)http://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2009-10-22.htmlhttp://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2009-10-21.htmlThe US Dollar Index maintains wedge trendline support and a key Fibonacci retracement (78.6% of July 08 to March 09 range) remains in place despite failing to overcome the 10-day MA & the 76 handle (former pivot support turned resistance). Meanwhile, the EUR/USD retreated after failing to breach the coveted 1.50 barrier, highlighting 4-hourly bearish MACD, RSI & Stochastics divergence. More importantly, Tuesday's reaction low has highlighted a short-term rising wedge, while 4-hourlyWed, 21 Oct 2009 08:59:06 GMThttp://www.fxstreet.com/technical/forex-strategy/sales@informagm.com (Informa Global Markets)http://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2009-10-21.htmlhttp://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2009-10-16.htmlThe US Dollar Index continues to maintain support at a wedge trendline and at a key Fibonacci retracement (78.6% of July 08 to March 09 range) just below 75.50. A strong close (for Friday) is now necessary to round-up daily RSI & MACD to confirm bullish divergence. The resistant 10-day MA will be the key test to determine whether the Greenback can recover. Failure to reclaim this fast, yet important moving average will likely leave the DXY susceptible to a capitulation-type sell-off. TheFri, 16 Oct 2009 08:40:22 GMThttp://www.fxstreet.com/technical/forex-strategy/sales@informagm.com (Informa Global Markets)http://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2009-10-16.htmlhttp://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2009-10-09.htmlThe US Dollar Index retested key support just below the 76 handle once again. While this pivot managed to support, time is running out for the Greenback. A positive daily close is required for Friday to round-up daily MACD and complete bullish divergence. The next level of support is in the 76.50 region, where projected falling wedge trendline & a Fibonacci projection reside. The EUR/USD surpassed the 78.6% Fibonacci retracement at 1.4768, but failed to retest the yearly high. BeyondFri, 09 Oct 2009 10:37:06 GMThttp://www.fxstreet.com/technical/forex-strategy/sales@informagm.com (Informa Global Markets)http://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2009-10-09.htmlhttp://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2009-10-07.htmlSpot Gold broke-out of a 3-week triangle to begin the week, triggering Tuesday's fresh record high. The pattern break-out projects a move to the 1050 region, where extreme overbought RSI levels could delay further upside potential . In the meantime, oversold (hourly/4-hourly studies) dips below the previous record high (1033) should be accumulated. Meanwhile, the US Dollar Index , which rejected at the 35-day exponential moving average last week, fell below the 10-day MA. A retest of the 76Wed, 07 Oct 2009 09:08:35 GMThttp://www.fxstreet.com/technical/forex-strategy/sales@informagm.com (Informa Global Markets)http://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2009-10-07.htmlhttp://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2009-10-02.htmlThe US Dollar Index benefitted on Thursday from renewed risk aversion. The commodity currencies suffered the most as the DXY managed to rebound off the 10-day MA. The EUR/USD rejected at its 10-day MA as well, hinting at a possible shift in trend. The next key technical event to watch will be the whether the USD can clear the resistant 35-day exponential MA and if the EUR/USD can sustainably break below the 50-day MA (now at 1.4423). If these moving averages are breached, a broader correctionFri, 02 Oct 2009 08:53:44 GMThttp://www.fxstreet.com/technical/forex-strategy/sales@informagm.com (Informa Global Markets)http://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2009-10-02.htmlhttp://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2009-09-30.v02.htmlThe British Pound rebounded on Tuesday after a suprise gain in the CBI survey. The UK currency was dragged down by the GBP/JPY on Monday, as the Yen initially surged on the back of Japan's Finance Minister's comments regarding currency intervention. The comments were eventually toned down and the Yen eased off its highs, allowing the Pound to rebound vs the Yen, as well as the Euro & Dollar. The GBP/USD, which found support near a key Fibonacci level (38.2% retracement of the March low toWed, 30 Sep 2009 08:42:03 GMThttp://www.fxstreet.com/technical/forex-strategy/sales@informagm.com (Informa Global Markets)http://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2009-09-30.v02.htmlhttp://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2009-09-30.htmlThe EUR/USD reached a fresh 52-week high after rebounding Monday off a key Fibonacci retracement at 1.4618 (61.8% of the 2008 high to the 2009 low). The US Dollar Index , which failed to clear the 10-day MA has fallen back to the September 2008 pivot located near the 76 handle. While daily studies remain at oversold levels, momentum is clearly against the Greenback. A close below 75.89 (September 2008 swing low) immediately exposes 74.75, where a Fibonacci retracement (78.6% of 70.70 - 89.62)Wed, 30 Sep 2009 06:54:37 GMThttp://www.fxstreet.com/technical/forex-strategy/sales@informagm.com (Informa Global Markets)http://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2009-09-30.htmlhttp://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2009-09-29.htmlThe US Dollar Index managed to claw back despite making a fresh 52-week low. The false-break of the September 2008 low (75.89) triggered a reversal that could possibly mark a short-term double bottom base. A sustainable rebound above the 77 handle would confirm this and refocus the 78 region, where a previous Fibonacci retracement lies (61.8% of 70.70-89.62). The EUR/USD & USD/CHF made an intraday double top & bottom (respectively) just after the FOMC announcement. This helped toTue, 29 Sep 2009 16:50:01 GMThttp://www.fxstreet.com/technical/forex-strategy/sales@informagm.com (Informa Global Markets)http://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2009-09-29.htmlhttp://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2009-09-17.htmlThe EUR/USD has extended strength through the key (61.8%) Fibonacci retracement near 1.46 to probe the December swing high at 1.4270. This pivot is also a 1.236% extension of the 50% & 61.8% retracement levels of the 2008 high-2009 low range. Daily RSI is at severly overbought levels and is above 77 (9-period) for only the fifth time in two years. Meanwhile, the DXY (US Dollar Index) is now 7.5% below its 200-day moving average, the most since carving out a bottom 17 months ago. AThu, 17 Sep 2009 09:44:54 GMThttp://www.fxstreet.com/technical/forex-strategy/sales@informagm.com (Informa Global Markets)http://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2009-09-17.htmlhttp://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2009-09-10.htmlThe US Dollar dropped to fresh 11-month lows as Gold crossed above the key psychological 1000 threshold on Tuesday. The DXY lost key trendline support as the EUR/USD broke above trendline resistance and the formerly resistant June swing pivot high at 1.4338. The subsequent Dollar weakness has led to a test of a key Fibonacci retracement near 1.46 (61.8% of the 2008 highs to the 2009 lows). This key pivot should provide decent resistance as the other key retracement levels (38.2% & 50%)Thu, 10 Sep 2009 09:09:49 GMThttp://www.fxstreet.com/technical/forex-strategy/sales@informagm.com (Informa Global Markets)http://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2009-09-10.htmlhttp://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2009-09-02.htmlThe US Dollar Index managed to bottom out near the key Fib at 77.93 (61.8% of 70.69-89.62). The failure of capital markets to capitilize on the better than expected manufacturing numbers triggered a reversal that helped buoy the Greenback through a 6-month trendline at 78.66. The EUR/USD's failure to overcome the 60 level on daily RSI hinted of weakness that could now potentially break below the supportive 50-day MA (now at 1.4160). Meanwhile, the major US equity indices have finally sustainedWed, 02 Sep 2009 09:45:52 GMThttp://www.fxstreet.com/technical/forex-strategy/sales@informagm.com (Informa Global Markets)http://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2009-09-02.htmlhttp://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2009-08-24.htmlThe US Dollar Index rejected at a 5-month downward sloping trendline and at the key 50-day moving average earlier in the week and has struggled going into Friday's close. A strong rebound in commodities and equities has forced the DXY back towards a key Fib at 77.93 (61.8% of 70.69-89.62). While 4-hourly studies are at oversold levels, daily indicators suggest plenty of room to test 77.45, near the December 2008 swing low and the recent lows made in early August. Moreover, according toMon, 24 Aug 2009 08:47:13 GMThttp://www.fxstreet.com/technical/forex-strategy/sales@informagm.com (Informa Global Markets)http://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2009-08-24.htmlhttp://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2009-08-14.htmlThe EUR/USD continues to respect 1.4222, the 50% retracement level of the 2008 highs & 2009 lows. Two weeks ago, the pair retraced 50% below this level, then 50% above the following week. Wednesday's rebound coincided with a 23.6% retracement below the 1.4222 pivot and Thursday's high rejected near 1.4312, 23.6% retracement above 1.4222. The symmetry exhibited suggests that despite last week's brief breakout, the EUR/USD should retest the region below 1.4222 relatively soon. Meanwhile, theFri, 14 Aug 2009 13:54:17 GMThttp://www.fxstreet.com/technical/forex-strategy/sales@informagm.com (Informa Global Markets)http://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2009-08-14.htmlhttp://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2009-08-11.htmlThe US Dollar Index has continued to rally after marking a short-term double bottom last week. The disconnect from the usual correlation between risk appetite and dollar weakness emphasizes the importance of interest rate differentials. The BOE's announcement to increase quantitative easing followed by a stronger-than-expected non-farm payrolls report has enabled the the interest rate differential between 10-year (UK ) Gilts and 10-year (US) Treasuries to flip-flop from a 30 basis pointTue, 11 Aug 2009 10:50:00 GMThttp://www.fxstreet.com/technical/forex-strategy/sales@informagm.com (Informa Global Markets)http://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2009-08-11.htmlhttp://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2009-08-07.htmlThe US Dollar Index has confirmed an hourly double bottom just below the December 2008 spike low while the EUR/USD confirms a double top. The measured move objective for both formations coincide with a 38.2% retracement and the 10-day MA. It may offer an attractive entry point for dollar bears and could possibly mark a throw-back off a EUR/USD 2-month internal trendline. Meanwhile, since the DXY trades below the 10-day MA, there remains a chance for a panic-type sell-off towards 75.00/76.00Fri, 07 Aug 2009 08:54:30 GMThttp://www.fxstreet.com/technical/forex-strategy/sales@informagm.com (Informa Global Markets)http://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2009-08-07.htmlhttp://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2009-08-06.htmlThe US Dollar Index has managed to stabilize as equity markets finally put in an overdue distribution day. The S&P and Dow Jones Industrial Average both broke below rising wedge support on Tuesday on stronger volume to possibly hint of a short-term correction. Meanwhile, the DXY continues to consolidate near the December 2008 low, but remains well below key moving averages (10 & 20-day MA's). 4-hourly studies suggest temporary basing, but will require a move above 77.85 (Tuesday'sThu, 06 Aug 2009 08:39:08 GMThttp://www.fxstreet.com/technical/forex-strategy/sales@informagm.com (Informa Global Markets)http://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2009-08-06.htmlhttp://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2009-08-05.htmlThe USD/CAD weakened Tuesday on the back of comments regarding excessive currency appreciation. Bullish 4-hourly MACD divergence invoked a corrective rebound that has since stalled near last week's swing low at 1.0740. It appears that this pair may be forming a falling wedge, typically a reversal pattern. A relatively low risk entry point would be 1.0583, where wedge support and a key fibonacci retracement coincide. Meanwhile, the bearish structure remains intact while the Loonie trades belowWed, 05 Aug 2009 08:38:41 GMThttp://www.fxstreet.com/technical/forex-strategy/sales@informagm.com (Informa Global Markets)http://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2009-08-05.htmlhttp://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2009-08-04.htmlThe US Dollar Index has fallen to a fresh 10-month low as risk appetite continues to flourish. Last week's rejection at a key fibonacci retracement and the 20-day moving average hinted that the brief recovery was about to end. The Cable's (GBP/USD) subsequent ascending triangle breakout triggered further losses, causing the Greenback to fall back towards the once hopeful double bottom base. Monday's follow-through has been tempered by demand near the December 2008 spike low. The obviousTue, 04 Aug 2009 08:26:40 GMThttp://www.fxstreet.com/technical/forex-strategy/sales@informagm.com (Informa Global Markets)http://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2009-08-04.htmlhttp://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2009-07-31.htmlThe EUR/USD has stabilized after rebounding off 1.40, near the midpoint of the latest 1.38-1.42 range and a key fibonacci retracement (61.8% of 1.3839-1.4300). The possible bearish rejection off former trendline support hints of a weakness towards 1.3957 initially (78.6% of 1.3839-1.4300). If the 50-day MA (1.4033) remains supportive, then the medium-term bullish structure remains intact. The US Dollar Index looks like it may have rebounded off an internal trendline as well, but remainsFri, 31 Jul 2009 09:50:33 GMThttp://www.fxstreet.com/technical/forex-strategy/sales@informagm.com (Informa Global Markets)http://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2009-07-31.htmlhttp://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2009-07-30.htmlThe US Dollar Index continues to recover after completing the first intraday higher low in nearly 3 weeks. Buoyed by 4-hourly & daily bullish MACD divergence, the DXY's rally broke through the key 79.12 pivot and 3-month trendline resistance to probe the 20-day MA. A fresh higher low is now sought ideally by the 79.12 pivot for a test of the targeted 50-day moving average. This also coincides with a 50% retracement level located near the psychological 80 handle, clearing which furtherThu, 30 Jul 2009 08:44:38 GMThttp://www.fxstreet.com/technical/forex-strategy/sales@informagm.com (Informa Global Markets)http://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2009-07-30.htmlhttp://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2009-07-23.htmlThe US Dollar Index has suffered due to renewed strength in risk appetite. The rejection below 79.18 (key fibonacci retracement) and the inability to clear a 4-hourly mid-Bollinger band have kept the bearish structure intact. The follow-through, however, has been limited. In fact, subsequent price-action is threatening to form a 2-day double bottom and if confirmed could strengthen the case for building a larger (6-week) double bottom base. Moreover, several charts indicate that risk appetiteThu, 23 Jul 2009 09:04:24 GMThttp://www.fxstreet.com/technical/forex-strategy/sales@informagm.com (Informa Global Markets)http://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2009-07-23.htmlhttp://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2009-07-21.htmlThe EUR/USD has probed above the recent 1.3730 -1.4170 range after breaking above trendline resistance. A weekly close above 1.4170 would be a first since September and suggests an end of rangebound trade that has persisted over the past few months. While the 50-day moving average and weekly RSI's are maintained, the immediate target is the 2009 high at 1.4335. The next target comes in near 1.46, close to the spike high in December and a key fibonacci retracement. Meanwhile, a loss of 4-hourlyTue, 21 Jul 2009 12:36:24 GMThttp://www.fxstreet.com/technical/forex-strategy/sales@informagm.com (Informa Global Markets)http://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2009-07-21.htmlhttp://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2009-07-17.htmlThe EUR/USD rejected at the top end of the latest range after probing above trendline resistance. A weekly close above 1.4170 and a daily close above 1.42 suggests a bullish extension that would target 1.46, the next fibonacci retracement zone. Although, both daily & weekly RSI's suggests further strength ahead, the failure at 1.4170 and the inability to substantially clear 1.4130 (trendline) indicate that the near-term trend may be exhausting. Moreover, 4-hour bearish MACD divergenceFri, 17 Jul 2009 08:35:12 GMThttp://www.fxstreet.com/technical/forex-strategy/sales@informagm.com (Informa Global Markets)http://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2009-07-17.html