Posts Tagged ‘support’
Friday, August 27th, 2010
New York 8-27-10
After a less bad Fed revision of 2nd Quarter GDP Risk currencies such as the Aussie showed sharp rallies in early New York dealings alleviating oversold conditions.
The world’s largest economy grew at a 1.6 percent annual pace, exceeding the median forecast of economists surveyed by Bloomberg News and down from an estimate of 2.4 percent issued last month, revised figures from the Commerce Department showed today in Washington.
Monday will be important day to wait and see if we can get strong follow through to the risk side of the fence. Currently we see a near term bottom at .8765 with resistance pegged at .9015 and up to .9185.
David Moore
Tags: 50MA, AUD/USD, Aussie, Australian, Baron Forex, Baron Fx, Ben Bernanke, breakout, bullish, ECB, economy, Fed, G-5 currencies, Global, Market Depth, pivot numbers, pivot points, R1, R2, R3, RBA, support, swiss, technical, traders
Posted in AUD/USD, Central Bank, Crude Oil, Dow, EUR/USD, Energy, Forex Prediction, Forex Signals, Forex Trading, GBP/USD, Gasoline, Index Futures News, NY#2, RBOB, S&P 500, USD/CAD, USD/CHF, USD/JPY, Uncategorized | No Comments »
Wednesday, August 11th, 2010
New York 8-11-10
The Aud-Usd gave most of it’s ground in Asia and In Europe as Capital markets full digested the FOMC actions or inactions, causing falling equities markets worldwide.
We are back into the risk off mode with todays start of Ramadan and the European holiday season in full swing contributing to thinner liquidity. We feel the move to the downside in the Majors against the greenback is starting to take shape.The Aud-Usd may trade down as far as .8781 in the next few sessions to test a shorter term fibo(23.6%) level off of the recent rally. Since we are still convinced that the Aussie is the place to be we feel dips to these levels make excellent buy areas in anticpation of a test of the .9500 area in the next few months.
David Moore
Tags: Add new tag, AUD/USD, Aussie, Australian, Baron Forex, Baron Fx, breakout, bullish, Cad, Crude Oil, David Moore, ECB, eur, Fed, Fomc, Foreign Currency Trading, G-5 currencies, Global, Gold, institutional, Japanese Yen, Market Depth, Mexico City, minimum account, moving average, oversold, pandemic, pivot, pivot numbers, RBA, Silver, support, Swine Flu, Tim Geithner, traders
Posted in AUD/USD, Central Bank, Crude Oil, Dow, EUR/USD, Energy, Forex Prediction, Forex Signals, Forex Trading, GBP/USD, Gasoline, Index Futures News, NY#2, RBOB, S&P 500, USD/CAD, USD/CHF, Uncategorized | No Comments »
Monday, August 9th, 2010
New York 8-9-10
The Aud-Usd fell back from London session highs as we get closer to the FOMC rate decision due out Tuesday which for most will likely be a non event.
“There is a strong chance that FOMC officials are fretful over delivering a shot to the foot by announcing new measures now,” he said. “To do so would capitulate along with other gloomy forecasters expecting the economy to fall off a cliff.”
Data on Friday showed that overall U.S. non-farm payrolls fell 131,000 in July, while private employment, a better gauge of labor market health, rose a modest 71,000, below forecasts for a gain of 90,000.
By contrast, data on Monday suggested the euro zone was in better shape. Euro zone investor morale surged while German exports rose more than forecast.
Baron Forex
David A Moore
Tags: 50MA, Add new tag, AUD/USD, Aussie, Australian, Baron Forex, Baron Fx, David Moore, ECB, economy, eur, Euro, Fed, Financial, Foreign Currency Trading, forex pick, G-5 currencies, Global, institutional, Japanese Yen, Market Depth, Mexico City, moving average, pivot numbers, Precious metals, support, swiss, technical, Tim Geithner, traders
Posted in AUD/USD, Central Bank, Crude Oil, Dow, EUR/USD, Energy, Forex Prediction, Forex Signals, Forex Trading, GBP/USD, Gasoline, Index Futures News, NY#2, RBOB, S&P 500, USD/CAD, USD/CHF, USD/JPY, Uncategorized | 1 Comment »
Thursday, August 5th, 2010
New York 8-5-10
Could it be a repeat of the largest Crude Oil run up in history,that had no reasonable fundamental basis. Well who said markets have to abide by the fundamentals. Currently the Crude Oil market is making new highs for the year. Yet no one knows where the demand is coming from.When you have the largest refiner in the U.S. telling you there is sufficient product actually their words “oceans of gasoline” who do you believe? Could it be that Oil is being treated just like gold or a currency,used to hedge a falling USD and other currencies. It is very possible that this commodity the life blood of the modern world is being packaged as an asset class that not only will protect you from a falling USD.But is also good for making petro chemicals and gasoline plus thousands of other applications. Wow sounds like a better hedge than gold maybe we’ll call it Black Gold.
David A Moore
Tags: AUD/USD, Aussie, Australian, Baron Forex, Baron Fx, breakout, Crude Oil, David Moore, ECB, economy, eur, Fed, Financial, Foreign Currency Trading, forex pick, G-5 currencies, Gasoline, Heating Oil, Mexico City, minimum account, moving average, oversold, pivot, pivot numbers, pivot points, R1, R2, R3, resistance, support, swiss, traders
Posted in AUD/USD, Central Bank, Crude Oil, Dow, EUR/USD, Energy, Forex Prediction, Forex Signals, Forex Trading, GBP/USD, Gasoline, Index Futures News, NY#2, RBOB, S&P 500, USD/CAD, USD/CHF, USD/JPY, Uncategorized | No Comments »
Tuesday, August 3rd, 2010
New York 8-3-10
The Aud-Usd continued higher in quiet dealings during the N.Y session,the Aud-Usd is finding tough resistance as we test higher levels and lighter summer time volumes. Do not make a case for a momentum play through the .9380 level. As we stated previously I expect the Aussie to stall at higher levels and pull back before making any sustained attempt at breaking through the .9500 level.
David A. Moore
Tags: 50MA, AUD/USD, Aussie, Australian, Cad, ECB, economy, eur, Euro, Fed, Foreign Currency Trading, forex pick, G-5 currencies, Global, institutional, Japanese Yen, Market Depth, Mexico City, minimum account, moving average, oversold, pivot numbers, pivot points, Precious metals, R1, R2, R3, resistance, support, Tim Geithner, traders
Posted in AUD/USD, Central Bank, Crude Oil, Dow, EUR/USD, Energy, Forex Prediction, Forex Signals, Forex Trading, GBP/USD, Index Futures News, S&P 500 | No Comments »
Monday, July 26th, 2010
New York 7-26-10
Last week we told you to expect the Aud-Usd to trade thru the .9000 level within ten days. Now the question remains can the Aud-Usd break the .9387/9405 area which has been a very formidable resistance area. Well right now I would say this feat is not likely to occur until after August. I do expect the Aud-Usd to remain in a range between .8800 and .9200 for the next six to eight weeks. While the markets digest the phenomenal reversal and rally of the last six weeks in the Aud-Usd.
David A. Moore
Baron Forex
Tags: AUD/USD, Aussie, Australian, Baron Forex, Baron Fx, breakout, bullish, David Moore, ECB, economy, eur, Fed, Financial, Foreign Currency Trading, forex pick, G-5 currencies, institutional, Japanese Yen, Market Depth, minimum account, moving average, oversold, pivot, pivot numbers, pivot points, Precious metals, R1, R2, RBA, resistance, support, swiss, technical, traders
Posted in Uncategorized | No Comments »
Wednesday, July 14th, 2010
New York 7-14-10
Is the Aussie reborn again returning as the belle of the risk ball. We have seen the AUD-USD break through resistance after resistance level. Today we have seen the Aussie break through solid resistance at the .8815 level. Even the drop in U.S. Retail Sales failed to discourage Aussie bulls taking the Aussie/USD up to the .8869 level before profit taking trimmed the gains.
Australian consumer confidence surged in July by the most in 13 months, reversing the previous three months of declines, after the central bank kept borrowing costs unchanged and global financial markets stabilized.
Yesterdays report adds to signs households are weathering the most aggressive round of interest rate increases by a Group of 20 member as the nation’s economy benefits from China’s demand for raw materials. The survey was conducted the same week that Governor Glenn Stevens kept the benchmark lending rate unchanged on July 6 for a second month, and a report showed Australian job growth capped the best quarter in almost four years in June.
“The solid base for consumer sentiment is coming from an upbeat view on the economy,” said Bill Evans, chief economist at Westpac Bank in Sydney. “We saw a comparable surge in confidence in 2009 when households realized that Australia had avoided recession.”
While the question remains can the Aud-Usd break higher past the old .9387 of 4-2010 relies on the global risk trade and the countinued economic growth worldwide.
Baron Forex Research
Tags: 50MA, Add new tag, AUD/USD, Aussie, Australian, Baron Forex, Ben Bernanke, BP, bullish, David Moore, ECB, economy, eur, Financial, Fomc, Foreign Currency Trading, forex pick, G-5 currencies, Global, institutional, Japanese Yen, Market Depth, Mexico City, minimum account, moving average, oversold, pivot numbers, pivot points, Precious metals, R1, R2, R3, RBA, resistance, support, swiss, technical, Tim Geithner, traders
Posted in AUD/USD, Central Bank, Crude Oil, Dow, EUR/USD, Energy, Forex Prediction, Forex Signals, Forex Trading, GBP/USD, Index Futures News, S&P 500, USD/CAD, USD/CHF, USD/JPY, Uncategorized | No Comments »
Wednesday, July 7th, 2010
New York 7-7-10
The Aud-Usd is near the days highs today in NY dealings as traders are starting to shrug off negative news and focus on renewed raw materials demand. We have seen a very strong rally going into the NY session open and the Aud/Usd is currently trading above the .8569 38% fibo. We see resistance at the .8589 level a stong break above .8615 will set the Aud-Usd for a test of solid resistance at .8727 the 50% fibo off of the 4-11-10 high of .9387.
David A Moore
Tags: 50MA, Add new tag, AUD/USD, Aussie, Australian, Baron Forex, Baron Fx, breakout, bullish, Cad, David Moore, ECB, economy, eur, Euro, Foreign Currency Trading, forex pick, G-5 currencies, Global, Gold, Gold Coins, institutional, Japanese Yen, Market Depth, minimum account, moving average, oversold, pivot, pivot numbers, pivot points, Precious metals, R1, R2, R3, RBA, resistance, Silver, support, swiss, technical, Tim Geithner
Posted in AUD/USD, Central Bank, Crude Oil, Dow, EUR/USD, Energy, Forex Prediction, Forex Signals, Forex Trading, GBP/USD, Index Futures News, S&P 500, USD/CAD, USD/CHF, USD/JPY, Uncategorized | No Comments »
Monday, June 21st, 2010
The Euro-Usd gapped higher in N.Z triggering stops up to the 1.2468 area before sellers took advantage of the highest prices in three weeks. Pushing the Euro/Usd past the opening gap in the New York session. We feel at this point the upside retracement is concluding and expect to see further movement to the downside.
Baron Forex Research
Tags: 50MA, AUD/USD, Aussie, Australian, Baron Forex, Baron Fx, breakout, bullish, Cad, ECB, economy, eur, Euro, Fed, Financial, Foreign Currency Trading, forex pick, G-5 currencies, Global, institutional, Japanese Yen, Market Depth, minimum account, moving average, oversold, pivot, pivot numbers, pivot points, Precious metals, R1, R2, R3, RBA, resistance, support, swiss, technical, traders
Posted in AUD/USD, Central Bank, Crude Oil, Dow, EUR/USD, Energy, Forex Prediction, Forex Signals, Forex Trading, GBP/USD, Index Futures News, S&P 500, USD/CAD, USD/CHF, USD/JPY, Uncategorized | No Comments »
Thursday, June 17th, 2010
New York 6-17-10
The Euro-Usd ran higher triggering stops up to the 1.2412 area before sellers took advantage of the highest prices in three weeks.
While the Euro has shown itself to be a lot more resilient in the last few sessions. Once the Euro-Usd held above the 1.2300 level which was the 23% fibonacci level this set the market up for further gains. However given the current fundamental picture in the Euro zone we still feel the Euro-Usd has much lower prices in it’s future.However position trading the short side has been trecherous to say the least. We are still shorting any rallies however if the Euro-Usd can hold above the 1.2400 level we could see a test of the 1.2580 area.
Tags: 50MA, AUD/USD, Aussie, breakout, bullish, Cad, economy, Fed, Financial, Foreign Currency Trading, forex pick, G-5 currencies, Global, Japanese Yen, Market Depth, Mexico City, minimum account, moving average, oversold, pandemic, pivot, pivot numbers, pivot points, Precious metals, R2, RBA, resistance, support, swiss, technical, Tim Geithner, traders
Posted in AUD/USD, Central Bank, Crude Oil, Dow, EUR/USD, Energy, Forex Prediction, Forex Signals, Forex Trading, GBP/USD, Index Futures News, S&P 500, USD/CAD, USD/CHF, USD/JPY, Uncategorized | No Comments »