tag:blogger.com,1999:blog-90000982734335374802012-02-16T07:18:14.515-08:00Foreign Exchange Tradingcurrency forex online trading,currency trading,foreign currency trading,foreign exchange trading,forex account,forex course,forex demo,forex exchange,forex trader,forex trading,fx trading,global forex,online currency trading,online stock trading,stock trading,trade forex,trading currenciesthe Infos Hunterhttp://www.blogger.com/profile/10398840069682646184noreply@blogger.comBlogger21100tag:blogger.com,1999:blog-9000098273433537480.post-72958375217788743632008-06-10T14:04:00.003-07:002008-06-10T14:04:36.296-07:00GFT Daily Market Commentary Forex Market Commentary for June 9, 2008 by Cornelius Luca<p>GFT Daily Market Commentary </p><p><br />The dollar collapsed on Friday. Not only that the US unemployment figures were a(n apparent) disaster, but Israel warning to Iraq and EBS threat to hike rates all conspired to boost the oil and destroy the US currency. Monday should see some reprieve, by the outlook is negative.</p><p><br />Euro/dollar </p><p><br />The euro/dollar exploded higher on Friday and closed above the trendline of its channel declining since May 27. More general strength is likely. </p><p>Initial resistance is at 1.5817. Above it, euro/dollar retains additional resistance at 1.5930. Further resistance is then seen at 1.6020.<br /> <br />Immediate support is now seen at 1.5740. Strong support follows at 1.5650. The next level is 1.5565.</p><p>Oscillators are rising.</p><p><br />NEAR-TERM: Slightly bullish <br />MEDIUM-TERM: Slightly bullish<br />LONG-TERM: Bullish</p><p /><p>Dollar/yen</p><p><br />One day after nailing a 3 ½-month high, dollar/yen fell and formed a bearish reversal. My model went short and more weakness is likely. <br /> <br />Strong support is seen at 104.50 from a 50-point pivot, which targets 104.00 and 105.00. <br /> <br />Immediate resistance is at 105.00. The next level is 105.60 from a 50-point pivot that targets 105.10 and 106.10. </p><p>Oscillators are falling.</p><p><br />NEAR-TERM: Bearish <br />MEDIUM-TERM: Mixed<br />LONG-TERM: Bearish</p><p><br />Sterling/dollar</p><p><br />Sterling/dollar rallied sharply on Friday to enhance previous day’s recovery. Of course, it looks more like an intermediate bullish reversal and my model is long.</p><p>Initial resistance now comes at 1.9745. Above the pivot high at 1.9850, there is further resistance at 1.9960. <br /> <br />Immediate support is still seen at 1.9640. The next level is 1.9585. </p><p>Oscillators are mixed. </p><p><br />NEAR-TERM: Slightly bullish <br />MEDIUM-TERM: Mixed<br />LONG-TERM: Mixed </p><p /><p>Dollar/Swiss franc </p><p><br />Dollar/Swiss fell to the lowest level since April 24 and broke the bottom of a triangle. More weakness is in store while the oil is up and the Middle East is uttering bellicose words.<br /> <br />Immediate support is now seen at 1.0135. This is followed by 1.0015. Distant support is at .9985. <br /> <br />Initial resistance now comes at 1.0250. This is followed by 1.0325. </p><p>Oscillators are falling. </p><p> <br />NEAR-TERM: Bearish <br />MEDIUM-TERM: Mixed<br />LONG-TERM: Bearish</p><p /> <div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/9000098273433537480-7295837521778874363?l=foreign-trading-exchange.blogspot.com' alt='' /></div>the Infos Hunterhttp://www.blogger.com/profile/10398840069682646184noreply@blogger.comtag:blogger.com,1999:blog-9000098273433537480.post-26281608279832227142008-06-10T14:04:00.001-07:002008-06-10T14:04:08.094-07:00Daily Forex Commentary Forex Market Commentary for June 10, 2008 by Cornelius Luca<p>GFT Daily Market Commentary </p><p><br />The dollar made a brutal recovery on Monday against everything but the pound, after the weekend didn’t bring any surprise from the Middle East and the oil price (temporarily) tempered its uptrend. Talk of concerted rate hikes gave the buck a reprieve, but I’m not sure it’s the start of a big recovery for the dollar. Tuesday should see more strength, by the medium term outlook is negative.</p><p><br />Euro/dollar </p><p><br />The euro/dollar fell from a 1 ½-month high and formed a bearish reversal formation on the daily chart. Be careful of this one, more confirmation is needed if the decline is to pan out, and the current level at 1.5645 is important. </p><p>Immediate support is now seen at 1.5560. Strong support follows at 1.5470. Distant support is at 1.5415.</p><p>Strong resistance is at 1.5615. Above 1.5655, euro/dollar retains additional resistance at 1.5740. Further resistance is then seen at 1.5842.<br /> <br />Oscillators are falling.</p><p><br />NEAR-TERM: Slightly bearish <br />MEDIUM-TERM: Slightly bullish<br />LONG-TERM: Bullish</p><p /><p>Dollar/yen</p><p><br />Dollar/yen is trading one day up and one day down, and on Monday it reversed early losses in a dramatic fashion to close at an over tree-month high. My model went long, but I am not too comfortable with the upside. <br /> <br />Initial resistance is at 106.75 from a 50-point pivot, which targets 106.25 and 107.25. Distant resistance is perched at 107.95 from another 50-point pivot, which targets 107.45 and 108.45.<br />.<br />Initial support is seen at 106.25. The next level is 105.60 from a 50-point pivot that targets 105.10 and 106.10. </p><p>Oscillators are rising.</p><p><br />NEAR-TERM: Slightly bullish <br />MEDIUM-TERM: Mixed<br />LONG-TERM: Bearish</p><p /><p>Sterling/dollar</p><p><br />Sterling/dollar rallied for the third consecutive day on Monday, as horrible inflation numbers make further rate hikes a done deal. My model is long, but the short term outlook is bearish.</p><p>Immediate support is now seen at 1.9675. Below 1.9640, the next level is 1.9585. </p><p>Good resistance now comes at 1.9760. 1.9801 follows. Above the pivot high at 1.9850, there is further resistance at 1.9960. <br /> <br />Oscillators are rising. </p><p><br />NEAR-TERM: Slightly bearish <br />MEDIUM-TERM: Mixed<br />LONG-TERM: Mixed </p><p /><p>Dollar/Swiss franc </p><p><br />Dollar/Swiss reversed from the lowest level since April 24, but remains below the bottom of a triangle. More weakness seems to remain in store, but only in the medium term. Short term, it looks strong. <br /> <br />Initial resistance now comes at 1.0340. This is followed by 1.0390 and 1.0490. </p><p>Immediate support is now seen at 1.0270. This is followed by 1.0150. Distant support is at 1.0100. <br /> <br />Oscillators are mixed. </p><p> <br />NEAR-TERM: Mixed to slightly higher <br />MEDIUM-TERM: Mixed<br />LONG-TERM: Bearish</p><p><br /></p> <div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/9000098273433537480-2628160827983222714?l=foreign-trading-exchange.blogspot.com' alt='' /></div>the Infos Hunterhttp://www.blogger.com/profile/10398840069682646184noreply@blogger.com