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/2010-12-16.htmlThe US Dollar Index (DXY) rallied on the back of rising treasury yields, confirming Tuesday's bullish hammer pattern. The next obstacle for dollar bulls is last week's highs at 80.40, above which confirms a higher double bottom base. A swing low could form near the 79.87 region, where the 20-day moving average and 100-day moving average overlap. A sustained loss of this pivot would suggest a third test of the 38.2% retracement level at the 79.20 level. The British Pound was the weakestThu, 16 Dec 2010 07:24:00 GMThttp://www.fxstreet.com/technical/forex-strategy/sales@informagm.com (Informa Global Markets)http://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-12-16.htmlhttp://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-12-14.htmlThe US Dollar Index (DXY) broke out of consolidation, collapsing through triangular support. Price-action was decisively bearish, wiping out nearly all of last week's gains. The subsequent retreat probed the 38.2% retracement at 79.20 for third time. A clean loss of this key Fibonacci level exposes 78.52, the 50% retracement. Meanwhile, only a move back above the formerly supportive 20-day moving average alters the bearish outlook. The UUP (Proshares Dollar Index ETF) failed to clear keyTue, 14 Dec 2010 09:13:01 GMThttp://www.fxstreet.com/technical/forex-strategy/sales@informagm.com (Informa Global Markets)http://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-12-14.htmlhttp://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-11-22.htmlThe US Dollar Index ( DXY ) continues to consolidate, forming a 3-day ascending triangle pattern. Since completing a zig-zag correction off the November low, the recent pullback has been limited to the 38.2% retracement level. While the uptrend remains intact, lackluster follow-through hints of the possibility of a bearish shift. The greenback's rebound has stalled near the mid-way point of the previous week's relapse. More importantly, this recovery has taken nearly twice the amount of timeMon, 22 Nov 2010 08:30:31 GMThttp://www.fxstreet.com/technical/forex-strategy/sales@informagm.com (Informa Global Markets)http://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-11-22.htmlhttp://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-10-27.htmlPrice-action in FX markets continues to be largely driven by positioning rather than fundamental factors. The latest CFTC IMM report highlighted a 10% reversal of the largest net short position seen since late 2007. This has occurred while 2-year yield differentials between the Eurozone and US continue to widen to fresh yearly highs. Speculators have lightened up on short dollar positions primarily due to the event risk spurred by last weekend's G-20 meeting and technical facttors. TheWed, 27 Oct 2010 08:41:13 GMThttp://www.fxstreet.com/technical/forex-strategy/sales@informagm.com (Informa Global Markets)http://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-10-27.htmlhttp://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-10-20.htmlOften when risk appetite flourishes such as it has recently, investors tend to sell low yielding assets such as bonds, and buy higher yielding assets such as stocks. However, since Goldman Sachs ignited the quantitative easing or “QE 2” debate in mid-September, normal market correlations have decoupled. As a result, this has left most market participants glued to movements of the US Dollar. The Greenback has suffered mightily due to the Federal Reserve’s intent on reviving inflationWed, 20 Oct 2010 08:54:40 GMThttp://www.fxstreet.com/technical/forex-strategy/sales@informagm.com (Informa Global Markets)http://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-10-20.htmlhttp://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-10-14.htmlThe FOMC minutes published on Tuesday continued to remind investors of the Federal Reserve’s commitment to ultra-low interest rates. Since then, however, the long-end of the curve has sold-off quite dramatically. The 10-year yield is up nearly 10 basis points and the 30-year is nearly 20 basis points off recent lows. This is partly due to the recent surge in risk appetite as equity markets worldwide continue to ascend to multi-month highs. But more importantly, the temporary correction in bondThu, 14 Oct 2010 07:57:52 GMThttp://www.fxstreet.com/technical/forex-strategy/sales@informagm.com (Informa Global Markets)http://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-10-14.htmlhttp://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-10-04.htmlIt was nearly 25 years ago in which the United States pleaded with the Japanese to strengthen their currency by intervening in the currency markets. The Plaza Accord was seen then as a measure to help the U.S. economy to emerge from a serious recession that began in the early 80’s and alleviate the trade deficit with Japan. It failed miserably because the trade deficit was due to structural issues rather than monetary conditions. While this marked Japan’s emergence as a real player in managingMon, 04 Oct 2010 08:14:20 GMThttp://www.fxstreet.com/technical/forex-strategy/sales@informagm.com (Informa Global Markets)http://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-10-04.htmlhttp://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-09-23.htmlGold continues to ascend to new heights. While the latest strength has accelerated and risks an exhaustive spike, the advance remains rather orderly. Since bottoming in July, the yellow metal has rallied in roughly 50 point increments then corrected 26 points before resuming the uptrend. Although, there is no clear wave structure, overbought daily RSI suggests a pullback at current levels. The measured correction would take Gold back to the 1270-1275 region before once again resuming strength.Thu, 23 Sep 2010 09:05:08 GMThttp://www.fxstreet.com/technical/forex-strategy/sales@informagm.com (Informa Global Markets)http://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-09-23.htmlhttp://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-09-16.htmlThe US Dollar Index has broken below the neckline of a short-term Head & Shoulders pattern. As such, weakness is now anticipated to retest support that held the April & August lows, near the formation’s measured move target. Moreover, the 200-day MA has become resistance, which highlights the inability to reclaim former neckline support. This suggests that weakness could quickly resolve into a bearish thrust to 79.81/80.07 (61.8% retracement/ August low) then briefly recover ahead of aThu, 16 Sep 2010 08:42:15 GMThttp://www.fxstreet.com/technical/forex-strategy/sales@informagm.com (Informa Global Markets)http://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-09-16.htmlhttp://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-09-08.htmlOverly pessimistic bullish sentiment (according to the AAII survey) and oversold daily conditions have provided the catalyst for the S&P 500’s latest rebound, highlighting the completion of wave 2’s symmetrical zig-zag correction off the August highs. This sets up a possible powerful 3rd wave-rally that could extend towards the year-to-date high. While trendline resistance (originating from the August peak) has temporarily stalled the move, bullishly diverging hourly studies indicateWed, 08 Sep 2010 17:20:47 GMThttp://www.fxstreet.com/technical/forex-strategy/sales@informagm.com (Informa Global Markets)http://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-09-08.htmlhttp://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-08-25.htmlThe EUR/USD has rebounded off the key 50% retracement level at 1.26 to highlight the possible completion of a 5-wave down-move off the August high. While 4-hourly bullish diverging studies hint of a period of base building, reclaiming the key 1.2732 swing low is required to confirm that a substantial intermediate low is in place. This would then suggest a 38.2% retracement recovery to 1.2870 that roughly equates to the previous 4th wave peak, a common Elliot Wave target. Meanwhile, anWed, 25 Aug 2010 08:49:44 GMThttp://www.fxstreet.com/technical/forex-strategy/sales@informagm.com (Informa Global Markets)http://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-08-25.htmlhttp://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-08-18.htmlThe USD/JPY is showing tentative signs of exhausting a long-term downtrend. Last week's low found support exactly at the 2009 reaction low to hint of the completion of a large five-wave structure that originates from the 2007 high. The last leg down also resembles a five-wave ending diagonal, which is often found in the latter parts of an impulsive trend. Also, daily studies are bullishly diverging to suggest that downward momentum is stalling. More importantly, in bear markets of thisWed, 18 Aug 2010 08:53:07 GMThttp://www.fxstreet.com/technical/forex-strategy/sales@informagm.com (Informa Global Markets)http://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-08-18.htmlhttp://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-08-12.htmlThe EUR/USD has completed a 5-wave rally off the June low, highlighting bearish MACD divergence. The subsequent loss of 14-day MA and RSI trendline support, indicates an exhaustion of the medium-term recovery. The formation of a possible weekly bearish engulfment also suggests short-term weakness towards 1.2725, also the previous 4th wave base. Any oversold dips below this important base and the key 10-week MA should be accumulated. STRATEGY: BUY at 1.2650 risking 1.2595, targeting 1.3485 LastThu, 12 Aug 2010 12:30:47 GMThttp://www.fxstreet.com/technical/forex-strategy/sales@informagm.com (Informa Global Markets)http://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-08-12.htmlhttp://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-08-03.htmlEntering 2010, the S&P 500 Index was in the process of completing impulsive strength off the March 2009 low. Since underperforming the 200-day MA by a record 36%, price-action has since oscillated between 13% above the 200-day MA to 10% below it. While, key medium-term turning points have each been preceded by divergences between price and daily MACD, a shift in trend was considered unconfirmed until price-action had managed to clear the important 14-day MA. The 5-wave decline off theTue, 03 Aug 2010 08:15:17 GMThttp://www.fxstreet.com/technical/forex-strategy/sales@informagm.com (Informa Global Markets)http://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-08-03.htmlhttp://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-07-30.htmlThe bullish reversal in June initially begun with daily bullish divergence (a lower low in price-action compared to MACD's higher low). The subsequent recovery was led by a break in RSI trendline resistance and the key 14-day MA, confirming the short-term trend shift. Today's close above resistance at 1.2986 (the 61.8% retracement from the April high) suggests a move towards the key 1.3125 (38.2% retracement from the Q4 '09 high). An acceleration through this Fibonacci level, which alsoFri, 30 Jul 2010 07:43:59 GMThttp://www.fxstreet.com/technical/forex-strategy/sales@informagm.com (Informa Global Markets)http://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-07-30.htmlhttp://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-07-23.htmlThe EUR/USD has rebounded off the 14-day MA to solidify daily RSI trendline support (9 & 14-periods). While these remain in-tact, there is scope for a daily close above the key Fibonacci retracement at 1.2986 (61.8% of the April 12/June 7th decline) towards 1.3109 (38.2% retracement of the entire December 3rd/June 7th decline). Moreover, the interest rate differential between the EU and US has accelerated (in favor of the former) and the Euro remains net short by speculators, which provideFri, 23 Jul 2010 07:25:22 GMThttp://www.fxstreet.com/technical/forex-strategy/sales@informagm.com (Informa Global Markets)http://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-07-23.htmlhttp://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-07-15.htmlSince equity markets recovered from the most oversold condition since the March 2009 low, the VIX has relapsed it's way down to 200-day MA support. The latest rebound in the Volatility Index suggests that equity markets may continue to trade rangebound. Moreover, the DJIA (Dow Jones Industrial Average) has paused at a key Fibonacci retracement (78.6% of the June 21st/July 1st decline) and equity futures are demonstrating bearish MACD divergence on their 4-hourly charts. If, however, the VIXThu, 15 Jul 2010 09:13:13 GMThttp://www.fxstreet.com/technical/forex-strategy/sales@informagm.com (Informa Global Markets)http://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-07-15.htmlhttp://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-07-07.htmlGold broke out of a rising wedge pattern last week to pare back the largest yearly net long speculative position by large traders (according to the CFTC). The subsequent relapse has stalled at a familiar level, namely the 9-period RSI's 34 level. This oscillator base has supported price-action three out of the last four troughs over the last 8 months. 4-hour bullish MACD divergence has triggered a corrective bounce that looks to retest the 50-day MA (near Monday's high). A failure to reclaimWed, 07 Jul 2010 19:35:49 GMThttp://www.fxstreet.com/technical/forex-strategy/sales@informagm.com (Informa Global Markets)http://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-07-07.htmlhttp://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-07-02.htmlThe EUR/USD has confirmed a complex inverse head & shoulders pattern with Thursday's clearance of neckline resistance. A weekly close above the 10-week MA at 1.2455 will invoke further strength towards 1.2670 (May 21st high) ahead of a move towards the inverse head & shoulder's target near the 1.30 handle. Meanwhile, the US Dollar Index rejected at a 10-day bear trendline, resulting in the loss of 50-day MA & platform (85.17 pivot) support. The DXY now seems poised to head lowerFri, 02 Jul 2010 08:54:50 GMThttp://www.fxstreet.com/technical/forex-strategy/sales@informagm.com (Informa Global Markets)http://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-07-02.htmlhttp://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-06-23.htmlThe US Dollar Index (DXY) found support at 85.14, a pivot that bolstered the last leg of strength in late May/early June. A sustained clearance of the 85.90 pivot targets the 14-day MA, then the mid 87 region, which correlates with left shoulder resistance of a possible head & shoulders pattern. In the event that 85.14 support is lost, however, then focus immediately shifts downward towards the 100-day MA.Wed, 23 Jun 2010 09:37:27 GMThttp://www.fxstreet.com/technical/forex-strategy/sales@informagm.com (Informa Global Markets)http://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-06-23.htmlhttp://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-06-17.htmlThe EUR/USD continues to recover on reduced risk aversion. The 14-day MA, which had served as key resistance, has now reverted to support as seen on Tuesday. The EUR/USD has broken weekly RSI trendline resistance, suggesting a possible rebound to 1.2579. This key pivot also alligns with 85.19 (US Dollar Index) and the projected 10-week MA. Meanwhile, only a loss of 14-day MA support will delay strength.Thu, 17 Jun 2010 12:22:36 GMThttp://www.fxstreet.com/technical/forex-strategy/sales@informagm.com (Informa Global Markets)http://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-06-17.htmlhttp://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-06-14.htmlThe EUR/USD has recovered from fresh cycle lows on the back of bullish diverging daily studies. The latest rebound has reclaimed the June 1st swing low at 1.2110, altering the current (elliot) wave count and has helped neutralize the gloomy short-term outlook. The rejection at the key 14-day MA average, however, leaves this pair susceptible for a bearish resumption. Losing daily RSI (9 & 14-period) trendline support will shift focus to the 2005 lows in the mid 1.16 region. Meanwhile, aboveMon, 14 Jun 2010 09:53:27 GMThttp://www.fxstreet.com/technical/forex-strategy/sales@informagm.com (Informa Global Markets)http://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-06-14.htmlhttp://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-06-04.htmlThe EUR/USD & US Dollar Index failed once again at the 14-day MA on Thursday, setting up the latest retest of the critical 1.2132/1.2155 & 87.45 region. The 1.2132 level marks the 50% retracement level of the 2000 to 2008 bull campaign and the 1.2155 level is a monthly trendline that originates off the all-time lows. In both cases, these key levels for the EUR/USD & DXY have been tested three times and generally the fourth attempt carries a high probability of breaking throughFri, 04 Jun 2010 10:22:09 GMThttp://www.fxstreet.com/technical/forex-strategy/sales@informagm.com (Informa Global Markets)http://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-06-04.htmlhttp://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-05-28.htmlGuided by bullish 4-hourly diverging studies, the EUR/USD was able to dodge a major bullet overnight. Euro bears got dangerously close to testing the May 19th low of 1.2139, which is very near the key 50% retracement level of the entire bull market move from 2000 to 2008. With only one day left in the month of May, it looks like a key monthly trendline that extends off the all-time lows will also remain intact. The next hurdle for the EUR/USD's recovery comes in form of the 14-day MA (now atFri, 28 May 2010 08:50:53 GMThttp://www.fxstreet.com/technical/forex-strategy/sales@informagm.com (Informa Global Markets)http://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-05-28.htmlhttp://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-05-21.htmlThe GBP/USD has maintained support at a key Fibonacci retracement level on a closing basis for the fourth consecutive day (1.4294 = 78.6% of the rebound off 1.3500). Hourly, 4-hourly and daily bullish MACD divergence hint at an overdue correction. A break above daily RSI trendline resistance should trigger a corrective rebound towards the resistant 10-day MA (now at 1.4619). A daily close below 1.4294 or a sustained loss of the 1.4238 level, suggests that market bears remain in firm controlFri, 21 May 2010 07:33:39 GMThttp://www.fxstreet.com/technical/forex-strategy/sales@informagm.com (Informa Global Markets)http://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-05-21.htmlhttp://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-04-28.htmlThe Dow Jones Industrial Average has likely put in an intermediate top. Monday's failure at a key Fibonacci retracement at 11245 (61.8% of the 2007 high to the 2009 low) managed to form a doji candlestick, which indicates indecisiveness at an overbought juncture. The Dow now looks to have completed a 5 of a 5 (Elliot Wave), which suggests a pullback to the previous 4th wave base located just below 11,000. Also, volatility has picked up according to the VIX and the US Dollar Index remainsWed, 28 Apr 2010 09:30:27 GMThttp://www.fxstreet.com/technical/forex-strategy/sales@informagm.com (Informa Global Markets)http://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-04-28.htmlhttp://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-04-16.htmlThe Dow Jones Industrial Average (and S&P 500) is forming the fifth wave within a five-wave up-move off the March 2009 low. According to Elliot Wave International, bullish sentiment has reached an extreme with roughly 92% of participants bullish on equities. Bearish MACD & RSI divergence is evident on hourly, daily & weekly charts, which indicates that there is only a small margin for error for stocks. I anticipate the formation of either a rising wedge or a blow-off top. In theFri, 16 Apr 2010 08:18:40 GMThttp://www.fxstreet.com/technical/forex-strategy/sales@informagm.com (Informa Global Markets)http://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-04-16.htmlhttp://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-04-08.html1. The Dow Jones Industrial Average just confirmed a 2-day double top (Monday/Tuesday's highs) and negative diverging daily oscillators should continue to weigh. Losing 9-day MA support near 10900 suggests a broader correction is in play. 2. The VIX is pausing at familiar level near the 16 handle and could potentially mark a double bottom base. Above the resistant 30-day MA confirms a base in volatility.  3. Treasury yields (which tend to reverse trends before stocks) have shown a failureThu, 08 Apr 2010 09:41:56 GMThttp://www.fxstreet.com/technical/forex-strategy/sales@informagm.com (Informa Global Markets)http://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-04-08.htmlhttp://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-04-01.v02.htmlGold rebounded off the resilient RSI base last week, highlighting a multi-month triangular consolidation formation. Today's test and subsequent failure of breaking above trendline resistance was aided by 4-hourly bearish MACD divergence. Coincidently, Eurogold has formed a smaller, but similar-type consolidation triangle. As the US Dollar enters April, one of the worst month's seasonally, there is a strong probability that Gold could breakout to the upside. Moreover, other commodities (such asThu, 01 Apr 2010 13:25:27 GMThttp://www.fxstreet.com/technical/forex-strategy/sales@informagm.com (Informa Global Markets)http://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-04-01.v02.htmlhttp://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-03-25.htmlBoth the DXY (US Dollar Index) and the EUR/USD have confirmed the fifth wave of an Elliot wave series that originates from November 2009. While 4-hour MACD divergence and the key 10-week MA initially stalled the greenback's weakness last week, it was the subsequent daily RSI wedge breakout that enabled dollar bulls to seize control. One common method of determining a fifth wave target is to project the length of the first wave (0r a proportion of that wave) within the series and project itThu, 25 Mar 2010 10:33:16 GMThttp://www.fxstreet.com/technical/forex-strategy/sales@informagm.com (Informa Global Markets)http://www.fxstreet.com/technical/forex-strategy/fx-trend-report/2010-03-25.htmlhttp://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.html