Technical Forecasts In Currency Markets
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Daily Trading Forecasts (October 1, 2012)
As new bearish biases set in, the markets are now generating new trading signals. Whatever happens between today and tomorrow might determine the ultimate movements in the markets during this week.
EURUSD: The EURUSD is showing some weakness as the pair finds it difficult to move upwards. A short trade is sought here: the price is below the EMA 21.
USDCHF: This pair has clearly rejected bearish propensity - at least in the near-term. A long trade is expected to be opened, since the price is above the EMA 21.
GBPUSD: Despite their obstinacy, the bulls were forced to give up their stranglehold on this market. If the market continues to move below the EMA 21, then a new southward position is confirmed.
EURJPY: The EURJPY cross is still moving sideways - without giving a clear direction. One would need to stay out of this market right now; until a clear signal is generated.
USDJPY: This pair saw mixed results last week. All the gains made by sellers were reversed by a bullish breakout that occurred last Friday. The bullish rally would be confirmed (not as a false breakout) when the EMA 11 crosses its EMA 56 counterpart to the upside.
As new bearish biases set in, the markets are now generating new trading signals. Whatever happens between today and tomorrow might determine the ultimate movements in the markets during this week.
EURUSD: The EURUSD is showing some weakness as the pair finds it difficult to move upwards. A short trade is sought here: the price is below the EMA 21.
USDCHF: This pair has clearly rejected bearish propensity - at least in the near-term. A long trade is expected to be opened, since the price is above the EMA 21.
GBPUSD: Despite their obstinacy, the bulls were forced to give up their stranglehold on this market. If the market continues to move below the EMA 21, then a new southward position is confirmed.
EURJPY: The EURJPY cross is still moving sideways - without giving a clear direction. One would need to stay out of this market right now; until a clear signal is generated.
USDJPY: This pair saw mixed results last week. All the gains made by sellers were reversed by a bullish breakout that occurred last Friday. The bullish rally would be confirmed (not as a false breakout) when the EMA 11 crosses its EMA 56 counterpart to the upside.
I have the EUR/USD ABOVE its daily 21 ema sitting here at approx 12900 
Daily Trading Forecasts (October 2, 2012)
The major instruments in the currency markets generally made indecisive movements yesterday. Today could, however, be different because some economic figure releases are expected to cause considerable volatility in the markets.
EURUSD: It can be safely said that indicator levels would have to determine what might happen on this pair. Right now, it is advisable to stay away from trading the pair. A clearer signal would be generated in due course.
USDCHF: What is true on the EURUSD is also true on the USDCHF - stay away from this market until a clearer signal gets generated. While it is easy to predict what could happen in the near term, one may not figure out what the market will do in the long-term (at least for the moment).
GBPUSD: The signal on the Cable is bearish. The price is below the EMA 21, while the Stochastic is in the oversold region. This is taken to mean that there could be some bullish correction on the price before further bearish momentum occurs.
EURJPY: If anything could be done on this cross, it could be short-selling. The only time when this would not be valid is when the EMA 11 crosses the EMA 56 to the upside. The Williamsâ % Range is now heading downwards from the overbought territory, which could herald a bearish run.
USDJPY: The price on the USDJPY threatens to start a bullish move, but the signal is ambiguous. One way of dealing with this is to wait for the EMA 11 to cross the EMA 56 to the upside. Otherwise, the price would have to fall back below the EMA 11.
The major instruments in the currency markets generally made indecisive movements yesterday. Today could, however, be different because some economic figure releases are expected to cause considerable volatility in the markets.
EURUSD: It can be safely said that indicator levels would have to determine what might happen on this pair. Right now, it is advisable to stay away from trading the pair. A clearer signal would be generated in due course.
USDCHF: What is true on the EURUSD is also true on the USDCHF - stay away from this market until a clearer signal gets generated. While it is easy to predict what could happen in the near term, one may not figure out what the market will do in the long-term (at least for the moment).
GBPUSD: The signal on the Cable is bearish. The price is below the EMA 21, while the Stochastic is in the oversold region. This is taken to mean that there could be some bullish correction on the price before further bearish momentum occurs.
EURJPY: If anything could be done on this cross, it could be short-selling. The only time when this would not be valid is when the EMA 11 crosses the EMA 56 to the upside. The Williamsâ % Range is now heading downwards from the overbought territory, which could herald a bearish run.
USDJPY: The price on the USDJPY threatens to start a bullish move, but the signal is ambiguous. One way of dealing with this is to wait for the EMA 11 to cross the EMA 56 to the upside. Otherwise, the price would have to fall back below the EMA 11.
Nope, i will keep trading it. Long now sitting @ 2912
Daily Trading Forecasts (October 3, 2012)
Some pairs and crosses traded sideways yesterday, while some moved in a decisive manner. Those that moved decisively have continued doing so. But those that traded in range could experience some breakouts today.
EURUSD: The movement on this pair is yet to be decided. The price is currently between the resistance level at 1.2950 and the support level at 1.2900. One would need to wait for a clearer direction before opening a position.
USDCHF: The price is between the distribution level at 0.9400 and the accumulation territory of 0.9350. There is not a decisive movement yet. Therefore, one would need to wait for a clearer direction before taking a position.
GBPUSD: The SELL signal on the Cable is still valid as the price continues to trade below the EMA 21. The price has tested the support level at 1.6100, and if it is retested again, the next target might be 1.6000.
EURJPY: There is an indication to go long on the EURJPY cross. The EMA 11 has crossed the EMA 56 to the upside, though the Williamsâ % Range is around the overbought territory. This may cause a minor pullback in the price before the cross continues its upward journey.
USDJPY: On this market, there has been a buy signal. This was generated as the EMA 11 crossed the EMA 56 to the upside. It seems most JPY pairs now intend to go up. The supply zone at 78.50 could be the next target as the nearest demand zone stands at 78.00.
Some pairs and crosses traded sideways yesterday, while some moved in a decisive manner. Those that moved decisively have continued doing so. But those that traded in range could experience some breakouts today.
EURUSD: The movement on this pair is yet to be decided. The price is currently between the resistance level at 1.2950 and the support level at 1.2900. One would need to wait for a clearer direction before opening a position.
USDCHF: The price is between the distribution level at 0.9400 and the accumulation territory of 0.9350. There is not a decisive movement yet. Therefore, one would need to wait for a clearer direction before taking a position.
GBPUSD: The SELL signal on the Cable is still valid as the price continues to trade below the EMA 21. The price has tested the support level at 1.6100, and if it is retested again, the next target might be 1.6000.
EURJPY: There is an indication to go long on the EURJPY cross. The EMA 11 has crossed the EMA 56 to the upside, though the Williamsâ % Range is around the overbought territory. This may cause a minor pullback in the price before the cross continues its upward journey.
USDJPY: On this market, there has been a buy signal. This was generated as the EMA 11 crossed the EMA 56 to the upside. It seems most JPY pairs now intend to go up. The supply zone at 78.50 could be the next target as the nearest demand zone stands at 78.00.
Review of the Currency Markets (October 5, 2012)
Currency market instruments that began in trendless modes in the early part of this week broke out in new determined directions yesterday. These new developments do not favor the USD and the JPY. However, the new directions could continue till the end of this week.
EURUSD: This market traded sideways from Monday to Thursday, but broke out to the upside on Thursday. The price now goes above the EMA 21. The next target could be 1.3050.
USDCHF: The USDCHF pair firstly moved indecisively earlier this week. This continued until there was a downward breakout on Thursday. The support level at 0.9300 has been tested, and if the bearish bias continues, the next target could be 0.9250.
GBPUSD: This instrument traded lower from Monday to Wednesday, but the loss has been recovered as the pair moved up strongly. The resistance level at 1.6200 has been tested, and if broken upwards, the next target would be 1.6250.
EURJPY: Interestingly, the EURJPY has maintained the momentum it began with at the start of this week. The price has tested 102.00 has and is trying to close above it. If this succeeds, the next target would be 102.50.
USDJPY: The USDJPY has also maintained the bullish bias it began with at the start of this week. But since Thursday, the price has been coming down, and right now staying below the supply level of 78.50. It is still safe to assume that this pair would share the fate of other JPY pairs.
Currency market instruments that began in trendless modes in the early part of this week broke out in new determined directions yesterday. These new developments do not favor the USD and the JPY. However, the new directions could continue till the end of this week.
EURUSD: This market traded sideways from Monday to Thursday, but broke out to the upside on Thursday. The price now goes above the EMA 21. The next target could be 1.3050.
USDCHF: The USDCHF pair firstly moved indecisively earlier this week. This continued until there was a downward breakout on Thursday. The support level at 0.9300 has been tested, and if the bearish bias continues, the next target could be 0.9250.
GBPUSD: This instrument traded lower from Monday to Wednesday, but the loss has been recovered as the pair moved up strongly. The resistance level at 1.6200 has been tested, and if broken upwards, the next target would be 1.6250.
EURJPY: Interestingly, the EURJPY has maintained the momentum it began with at the start of this week. The price has tested 102.00 has and is trying to close above it. If this succeeds, the next target would be 102.50.
USDJPY: The USDJPY has also maintained the bullish bias it began with at the start of this week. But since Thursday, the price has been coming down, and right now staying below the supply level of 78.50. It is still safe to assume that this pair would share the fate of other JPY pairs.
Daily Trading Forecasts (October 5, 2012)
The markets now have bullish waves, as the Greenback and the Yen lose their strength versus other currencies. Right now, there are consolidations and corrections in most cases. Later today, events in the markets would determine whether the bullish waves will continue.
EURUSD: The trend is up and the price still stays above the level at 1.3000. This pair has moved up by around 200 pips this week. The next target remains 1.3050.
USDCHF: The trend is down - as the pair has gone down by over 120 pips this week. The price is currently resting on the accumulation territory at 0.9300. Should the price succeeds in breaking that barrier to the downside, the next target would be 0.9250
GBPUSD: The Cable that traded lower from Monday changed direction on Thursday. It has recovered this weekâs loss. The resistance level at 1.6292 is currently besieged, and it stands to be violated to the upside.
EURJPY: There is an uptrend on the EURJPY. The market has moved up by more than 230 pips this week, and the current bearish correction might give an opportunity to enter the market at a better price, e.g. 101.00.
USDJPY: This instrument is also in an uptrend. But right now, there are volatile bearish attempts in the market. Should bears prevail, the price may fall towards 78.00; and should bulls prevail the next target could be 78.50.
The markets now have bullish waves, as the Greenback and the Yen lose their strength versus other currencies. Right now, there are consolidations and corrections in most cases. Later today, events in the markets would determine whether the bullish waves will continue.
EURUSD: The trend is up and the price still stays above the level at 1.3000. This pair has moved up by around 200 pips this week. The next target remains 1.3050.
USDCHF: The trend is down - as the pair has gone down by over 120 pips this week. The price is currently resting on the accumulation territory at 0.9300. Should the price succeeds in breaking that barrier to the downside, the next target would be 0.9250
GBPUSD: The Cable that traded lower from Monday changed direction on Thursday. It has recovered this weekâs loss. The resistance level at 1.6292 is currently besieged, and it stands to be violated to the upside.
EURJPY: There is an uptrend on the EURJPY. The market has moved up by more than 230 pips this week, and the current bearish correction might give an opportunity to enter the market at a better price, e.g. 101.00.
USDJPY: This instrument is also in an uptrend. But right now, there are volatile bearish attempts in the market. Should bears prevail, the price may fall towards 78.00; and should bulls prevail the next target could be 78.50.
Daily Trading Forecasts (October 8, 2012)
The NFP came out with much better than expected figure on Friday, October 6, 2012. This caused mixed reactions in the markets, but in general, it enhanced bull markets. This development may determine what would happen this week.
EURUSD: The EURUSD had a clear bullish movement last week. It is currently trading above the level at 1.3000. The momentum yet remains to the upside, and as a result of this, the price may reach the resistance line at 1.3100 this week.
USDCHF: This pair, which usually has opposite effect as compared to the EURSD, had a clear bearish move last week. Currently the price is trading below the resistance line at 0.9300. The price may touch the support line at 0.9200 this week.
GBPUSD: The Fundamental fact that has a bullish effect on the EURUSD had a bearish effect on the GBPUSD. This pair headed down on Friday, the next potential target being 1.6100. If the price reaches this place, it may lead to a bear market.
EURJPY: This fast moving cross went up by close to 300 pips last week, and it could reach the resistance level at 103.00 this week. The price is trading at 102.50. The bullish momentum is still here.
USDJPY: There is a clear âbuyâ signal on this pair. It is now vivid that the Yen is very weak right now. If this bullish wave continues to go up, the pair may reach the resistance level at 79.00 this week. Otherwise it would fall down, reaching at least the demand territory at 78.50.
The NFP came out with much better than expected figure on Friday, October 6, 2012. This caused mixed reactions in the markets, but in general, it enhanced bull markets. This development may determine what would happen this week.
EURUSD: The EURUSD had a clear bullish movement last week. It is currently trading above the level at 1.3000. The momentum yet remains to the upside, and as a result of this, the price may reach the resistance line at 1.3100 this week.
USDCHF: This pair, which usually has opposite effect as compared to the EURSD, had a clear bearish move last week. Currently the price is trading below the resistance line at 0.9300. The price may touch the support line at 0.9200 this week.
GBPUSD: The Fundamental fact that has a bullish effect on the EURUSD had a bearish effect on the GBPUSD. This pair headed down on Friday, the next potential target being 1.6100. If the price reaches this place, it may lead to a bear market.
EURJPY: This fast moving cross went up by close to 300 pips last week, and it could reach the resistance level at 103.00 this week. The price is trading at 102.50. The bullish momentum is still here.
USDJPY: There is a clear âbuyâ signal on this pair. It is now vivid that the Yen is very weak right now. If this bullish wave continues to go up, the pair may reach the resistance level at 79.00 this week. Otherwise it would fall down, reaching at least the demand territory at 78.50.
Daily Trading Forecasts (October 9, 2012)
The currency instruments traded in equilibrium zones yesterday. This was due to the bank holiday in the US and Canada. However, today could see greater volatility as some economic figures are released.
EURUSD: Since the beginning of this week, this market has been going in a short-term bearish mode, but the bias remains to the upside. The price is above the EMA 11, and the Relative Strength Index (RSI) period 14 is above the level 50. It is expected that the price would go bullish.
USDCHF: There have been bullish attempts on the USDCHF since this week began, yet the bias remains to the downside. One this should be noted, nevertheless, that the price is trying to cross the resistance level at 0.9350 to the upside. Should this happen, the price would cross the EMA 56 to the upside and violate the current scenario.
GBPUSD: A short trade is still more preferable on the Cable, because the EMA 11 is still below its EMA 56 counterpart. The Williamsâ % Range is in the oversold region â something that could cause some bullish rally before the price continues to fall down. The support level of 1.6000 could be tested today.
EURJPY: Earlier this week, the EURJPY fell on the 4-hour chart, touched the EMA 56 (which acted as support). From that level, the price has been going up. The EMA 11 is still above the EMA 56, giving a northward movement possibility.
USDJPY: The USDJPY fell yesterday â though not significantly. This posed some threat to the current bullish scenario. We can see that the price has now come up above the EMA 51, which would enable a long trade once the RSI 14 goes above the level 50.
The currency instruments traded in equilibrium zones yesterday. This was due to the bank holiday in the US and Canada. However, today could see greater volatility as some economic figures are released.
EURUSD: Since the beginning of this week, this market has been going in a short-term bearish mode, but the bias remains to the upside. The price is above the EMA 11, and the Relative Strength Index (RSI) period 14 is above the level 50. It is expected that the price would go bullish.
USDCHF: There have been bullish attempts on the USDCHF since this week began, yet the bias remains to the downside. One this should be noted, nevertheless, that the price is trying to cross the resistance level at 0.9350 to the upside. Should this happen, the price would cross the EMA 56 to the upside and violate the current scenario.
GBPUSD: A short trade is still more preferable on the Cable, because the EMA 11 is still below its EMA 56 counterpart. The Williamsâ % Range is in the oversold region â something that could cause some bullish rally before the price continues to fall down. The support level of 1.6000 could be tested today.
EURJPY: Earlier this week, the EURJPY fell on the 4-hour chart, touched the EMA 56 (which acted as support). From that level, the price has been going up. The EMA 11 is still above the EMA 56, giving a northward movement possibility.
USDJPY: The USDJPY fell yesterday â though not significantly. This posed some threat to the current bullish scenario. We can see that the price has now come up above the EMA 51, which would enable a long trade once the RSI 14 goes above the level 50.