Usd/Jpy continues pushing higher and giving signals for further gains in 4 hours charts. The pair has an important congestion zone around 98.70/85, formed both by maximums and a descendant trend line, yet indicators point for further upside continuation, with momentum and CCI cutting their medium lines and still strong. A confirmation above the mentioned level, could send the pair to test this year high at 99.67, followed by 100.00 key level, and above 100.60, stronger resistance that should contain the pair in the first attempt. Failure to break above mentioned 98.70/85 zone, could send the pair back to the downside, although losses should be limited. Supports lie at 98.10, 97.70 zone and 97.38.

The pair continues correcting to the upside, after rebounding in the 200 EMA in 4 hours charts, and the recovery reach as far as the 50% retracement of the last down leg, very close to the 20 SMA that halted further gains at the moment. The pair has lost the oversold condition,  and indicators remain bullish. Above 1.3350, conside resistances at 1.3406(38.2%) of the mentioned rally and above 1.3450 zone. Supports from actual pirce will be at 1.3280, 1.3226 and 1.3280 zone.

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

Gbp/Usd: Bullish

Usd/Chf: Bearish

Usd/Jpy: Bullish

Eur/Gbp: Slightly Bullish

Hi everybody, welcome back! Dollar finally is giving up some ground together with Japanese Yen.  Today is the last day of the month so many traders will be booking profits and closing positions. The day is not over, so is a bit early to take conclusions and market continuity also does not help, yet take a look at GBP/USD. The pair is almost where it started, showing how much indecision we have there. The rest of the currencies are beating dollar, but far from previous month highs. I think market will get thinner today and tomorrow, ahead of the two last days of the week, that will be more explosive. Stocks in the U.S. are tumbling again and fell for a second straight session, as worries about the auto and bank industries gave investors a reason to retreat after the recent rally. Far from 8000 points resistance, the DJIA is approaching to the 7400 support level. Break under could but even more pressure on stocks. Anyway, here is the link for today’s calendar, check it while I start with some technicals for today:

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

Have a great day!

Trichet continues talking and just make some interesting comments, that we all need to be aware of: he says something lie in interest of UK to be member of the Euro Zone, or that the ECB is ready to do what is needed to cope crisis. Both Euro and Gbp, spike lower after this sentences yet market remains in intraday range. Let’s see if there is any certain reaction after speech is over.

Usd/continues pushing higher, reaching the mentioned key zone around 1.1520/40. looking over bought in 4 hours charts yet no signs of reversal yet, actual candle open just together with the 200 EMA, that lost bearish inclination and remains flat. Despite we have Trichet talking right now, this level should limit the upside at least today. Clear break above should trigger more upside momentum in the pair, with next resistances at  1.1580 zone and 1.1620. under 1.1470, consider next supports at 1.1440 and finally 1.1400.

American stocks tumbled at Monday’s open as investors fret about the viability of U.S. automakers. Dow Jones is down 240 points, and euro continues pushing down setting a new intraday low at 1.3128. Gbp is also falling quickly fut 40 pips sort from the daily low. Watch Swiss Franc: it has a strong congestion resistance zone between 1.1520/40. Clear move above, will help pushing Euro lower.

Yen appreciation was halted by the 200 EMA that offer a nice rebound supported by CCI reentering the -200 level. Daily charts also had turn bearish, so, a confirmation under today’s low, could change longer term perspective, although not seems clear at this time. From actual price, confirmation above 97.20 will send the pair to next resistance level around 97.60 zone and finally 98.00. Supports will come at 96.45, 95.94 and then the key 95.50 zone.

Gbp/Usd continues falling, and set a third point with today’s low, for a 4 hours ascendant trend line, at 1.4109. Quoting around 1.4193, the pair is also correcting the over sold state in 4 hours charts, but under the 200 EMA, that remains flat, and the 20 SMA that continues showing bearish strength Above the 1.4236 zone, next resistance will come at 1.4275, and above 1.4348. Supports will be at 1.3148, 1.4110 dynamic support coming from the trend line, and under, consider 1.4068 and then 1.4020 zone.

The pair continues bearish, but at this point oversold. Correction has already begin after reaching the 1.3157 yet the pair has found a first resistance around 1.3220. Indicators shown a probable upside correction as they are quite exhausted to the downside; however, a confirmation above at least 1.3245 well be needed. Remember, we are talking just about a correction against dominant trend, so be prudent there. Next resistances will be at 1.3284, and above, 1.3335 zone. Under the mentioned 1.3157, next supports will come at 1.3110 the 200 EMA in 4 hours charts, that won’t be easy to break but if so, 1.3040 and 1.3000 zone will be next supports to consider.