Take a look at this daily chart: the pair remains inside the descendant channel, and pushing down after breaking an ascendant trend line coming from the 1.3500 lows. Notice also the tough congestion zone the pair has between 1.4140/60, firs support for today. Moving  under that zone, could send the pair to 1.4092, past week minimum.

Turning to 4 hours charts, we find next interesting support level between 1.4020 and 1.4040, that should hold the downside for today. Resistances in the short term are at 1.4210 zone, followed by 1.4285 and 1.4330 zone.

Here is the majors sentiment for today:

Eur/Usd: Bearish

Gbp/Usd: Bearish

Usd/Chf: Bullish

Usd/Jpy: Neutral

Eur/Gbp: Neutral to Sigthly Bullish

Hi everybody welcome back! Greenback is still the preferred refuge in this crazy turmoil times. Euro and Gbp, are pushing the downside of the narrow range they were in these past days, and ready to continue. Investors are very pessimistic (logical, of course) and market is a good reflection of that. Stocks are still the main forex driver, and by this time, Europe remain negative, while the U.S. close again yesterday very close to a 12-year low. Japanese Yen is gaining some ground, but consider it as a correction of last days upside run.

Here is the link to today’s calendar:

http://www.fxstreet.com/fundamental/economic-calendar/

Have a great day!

The bullish trend remains intact at the moment, despite the pair is longing for some downside correction. Moving in an ascendant channel, first resistance today will be 98.28, followed by a brief stop around 98.50/60 before testing the 99.00 level. Only under 97.60 the we could see some downside corrections, with next supports at 97.20 and the 96.55 zone.

Still bearish in longer term time frames and trapped between 1.2800 and 1.2700, the pair is stretching range lately, meaning we are probably close to see some break, the pair is attempting to reach 1.2800 level at this time. No clear signs coming from indicators, and with 4 hours charts slightly bullish, consider resistances at 1.2800 zone, followed by 1.2832, 1.2863 and the zone around 1.2900 where we have a daily descendant trend line. Supports from actual place will be located at 1.2757, the congestion zone around 1.2720 and finally 1.2690.

Here is the majors sentiment for today:Eur/Usd: Neutral

Gbp/Usd: Neutral

Usd/Chf: Sigthly Bearish

Usd/Jpy: Bullish

Eur/Gbp: Sigthly Bearish

I been quite busy this week, sorry for the lack of posting! Is my summer here, usually the time for my vacations, but get involved in a new project and here I ‘am! working more than ever, a bit overwhelmed but happy at the end! Back to forex, fear remains the king, and wide ranges and absence of trend are part of the daily routine (again, leave the Japanese yen a side, is playing another game). Except for last Tuesday spike of optimism, market is clearly moving only by sentiment and stocks. As we all know, all things always come to an end, just in this particular case, it does not seems to be anytime soon.

Today, we have a busy calendar in the U.S. that includes, employment, Durable goods, and Housing sector (the Achilles’s heel of American economy). Are we going to see the bad numbers expected or even worst? will that plunge stocks, and send investors running back to greenback Treasuries? We can’t tell the future, but seems likely. American stocks remain close to an 11-year bottom, that should not be easy to break. If does, consider the panic stage of Charles Dow theory. And following first idea here, remember that that stage, is close to the cyclic end.

Here is the link to today’s calendar:

http://www.fxstreet.com/fundamental/economic-calendar/

Have a great day

Dollar is posting gains against most rivals in a quick appreciation (except of course the Yen that goes against the tie), triggered by a slum in Gbp GDP. Remember the Euro zone is its biggest trading partner, and this could well undermine exports. Gbp/Usd reached 1.4360 zone before halting the downside rally, yet remains under selling pressure. A break under daily minimum will find next supports at 1.4320 and 1.4270 zone. Only above the tough 1.4440/60 zone, the pair could regain some bullish steam

Here is the majors sentiment for today:

Eur/Usd: Neutral

Gbp/Usd: Neutral to Slightly Bearish

Usd/Chf: Neutral

Usd/Jpy: Bullish

Eur/Gbp: Bullish

Hello everybody welcome back! Last week of February, and wild movements exacerbates. While Europeans remain consolidating far from the lows they marked early this month (but not even close to reverse falling longer term trend) Japanese yen is being sell off all across the board, and remains pretty bearish. The shy recovery we saw in stock yesterday, is still not enough to change general sentiments, despite the idea of “risk appetite returning”. True, we are consolidating, but still we have no clear signals of to where we could go, once ranges are broken. euro could clearly reach 1.30/1.33 and only above there can change bias. Gbp hast he 1.50 level still far and recent GDP don’t help. The whole world is on crisis, and despite only Bernanke stated that full recovery will take a couple of years, we know that those words are valid to almost every country. Be cautious with longer term positions (you can relax a bit more with Japanese yen )

Here is the link to today’s calendar:

http://www.fxstreet.com/fundamental/economic-calendar/

Have a great day!