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Forex Sydney Time Syd Trading Systems Japan Time Tok Forex Trading Singapore Time Sin Central European Time CET Greenwich Mean Time GMT Eastern Time EST
Friday, 22 August 2008
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Has Dollar done with its recent rally?
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Market Analysis - Forex Currency Outlook
Thursday, 21 August 2008

For the past few days most of the currency pairs were going through consolidation motion probably suggest that Dollar could be ending its rally which lasted for 4 weeks. Today, I won't be drawing out the usual tables and technical analysis because the outlook remains similar. The technical support and resistance areas remained the same as of now and with the oscillators moving in opposite direction on the daily charts, it is likely that further consolidation should go on as more choppy sideways to be seen in the next few days.

Pound-DollarOn the GBPUSD pair, for now immediate resistance at 1.8785 with break above should see price moving towards 1.8797 before 1.8899 (23.6% Fibonacci Retracement of 1.8511 to 2.0156). Intra-day flat mildly on the upside as the daily now indicating a weak downtrend mode. For the EURJPY pair, situation is similar to Cable as the daily now shows weakening downtrend with intra-day showing weak bearish momentum.Downside immediate support at 161.45 before 160.85. Resistance at 162.58 before important level at 162.93/98 - 163.00/03 area. Above would see no further resistance till 163.86 before 164.27/33.

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Greenback remains firm as currency pairs consolidate
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Market Analysis - Forex Currency Outlook
Wednesday, 20 August 2008
Euro-Yen Forex Outlook
Weekly
 Euro-Yen continued its downward trend as the pair moved past 162.93/98 area and now targeting 160.83 before 158.67. Upside resistance now at Fibonacci retracements of 169.95 to 161.37 at 163.39, 164.65 and break above 166.67 would turn the outlook back towards the topside.

Downtrend

Daily Yesterday bounced off support at 160.83 indicates that Euro-Yen is poised for a retracement upside. Next resistance at 162.93/98 with break above should see next target at 164.65/70. Downside support at 160.83 before multiple confluences at 158.59/67/82.

 Neutral

4-Hour A firm 4-hour bullish candle off 160.83 turns the momentum flat with upside now targeting 162.93/98 before 163.86. Downside support at 161.42 with break below should re-test yesterday's low.

 Neutral

Resistance Levels
180.08 161.8% Fibonacci Extension Level H164.98 L151.70 S158.59
176.94 138.2% Fibonacci Extension Level H164.98 L151.70 S158.59
171.87 100.0% Fibonacci Extension Level H164.98 L151.70 S158.59
169.95/99 Historic High; Psychological Barrier
168.91Weekly Pivot R3
168.0078.6% Fibonacci Retracement Level 160.85 - 169.95
167.24
Weekly Pivot R2
166.47
61.8% Fibonacci Retracement Level 160.85 - 169.95
165.61/6438.2% Fibonacci Retracement Level 169.95 - 158.59; 23.6% Fibonacci Retracement Level 169.95 - 151.70
165.4050.0% Fibonacci Retracement Level 160.85 - 169.95
164.70Weekly Pivot R1
164.27/3350.0% Fibonacci Retracement Level 169.95 - 158.59; 38.2% Fibonacci Retracement Level 160.85 - 169.95
163.00/03
23.6% Fibonacci Retracement Level 160.85 - 169.95; Weekly Pivot
162.93/9861.8% Fibonacci Retracement Level 169.95 - 158.59; 38.2% Fibonacci Retracement Level 169.95 - 151.70
Support Levels
160.83 50.0% Fibonacci Retracement Level 169.95 - 151.70
160.49Weekly Pivot S1
158.82
Weekly Pivot S2
158.59/67 05 May Low; 61.8% Fibonacci Retracement Level 169.95 - 151.70
156.28
Weekly Pivot S3
155.6178.6% Fibonacci Retracement Level 169.95 - 151.70
151.70 20 March Low
Pound-Dollar Forex Outlook
Weekly

Dollar blew past the 100% Fibonacci extension mark of 1.8573 against Pound last week as the momentum continues to stay strong on the downside. Fibonacci retracement resistance from the high of 2.0156 moves lower now at 1.8899 first. As long the currency pair stay below 1.9334/36 the bias is still with the bears. Support at 1.8619 before 1.8511 with expected strong support at 1.8303.

Downtrend

Daily

Cable continue to consolidate above 1.8511 with momentum still flat. Upside resistance at 1.8721 with break above should see price target at next resistance of 1.8797  before before 1.8899. Downside support unchanged at 1.8619 before 1.8511 before 1.8332/40.

 Neutral

4-Hour Momentum is flat with MACD unchanged maintaining above waterline. Support at 1.8616 and 1.8619 before 1.8511. Upside resistance at 1.8721 before 1.8797 weekly pivot. Consolidation in progress.

 Neutral

Resistance Levels
2.1160 09 November 2007 High
2.059378.6% Fibonacci Retracement 1.8511 - 2.1160
2.019023.6% Fibonacci Retracement 2.1160 - 1.7049
2.0148/56 61.8% Fibonacci Retracement 1.8511 - 2.1160; 15 July High
1.9828/36Weekly Pivot R3; 50.0% Fibonacci Retracement 1.8511 - 2.1160
1.9804
78.6% Fibonacci Retracement 1.8511 - 2.0156
1.959038.2% Fibonacci Retracement 2.1160 - 1.7049
1.9541Weekly Pivot R2
1.9523/28
38.2% Fibonacci Retracement 1.8511 - 2.1160; 61.8% Fibonacci Retracement 1.8511 - 2.0156
1.939523.6% Fibonacci Retracement 2.1160 - 1.3681
1.9334/3650.0% Fibonacci Retracement 1.8511 - 2.0156; 22 January Low
1.927061.8% Fibonacci Extension H2.1160 L1.9336 R2.0397
1.9136/3923.6% Fibonacci Retracement 1.8511 - 2.1160; 38.2% Fibonacci Retracement 1.8511 - 2.0156
1.910550.0% Fibonacci Retracement 2.1160 - 1.7049
1.9084Weekly Pivot R1
1.902961.8% Fibonacci Extension H2.1160 L1.9336 R2.0156
1.8899
23.6% Fibonacci Retracement 1.8511 - 2.0156
1.8797Weekly Pivot
Support Levels
1.8619
61.8% Fibonacci Retracement 2.1160 - 1.7049
1.8573100.0% Fibonacci Extension H2.1160 L1.9336 R2.0397
1.8511
15 August 2008 Low
1.8332/40
100.0% Fibonacci Extension H2.1160 L1.9336 R2.0156; Weekly Pivot S1
1.8303
38.2% Fibonacci Retracement 2.1160 - 1.3681
1.8053Weekly Pivot S2
1.7929
78.6% Fibonacci Retracement 2.1160 - 1.7049
1.7876
138.2% Fibonacci Extension H2.1160 L1.9336 R2.0397
1.7635
138.2% Fibonacci Extension H2.1160 L1.9336 R2.0156
1.7596Weekly Pivot S3
1.7446
161.8% Fibonacci Extension H2.1160 L1.9336 R2.0397
1.7421
50.0% Fibonacci Retracement 2.1160 - 1.3681
1.7205
161.8% Fibonacci Extension H2.1160 L1.9336 R2.0156
1.704928 November 2005 Low
1.6538
61.8% Fibonacci Retracement 2.1160 - 1.3681
1.5282
78.6% Fibonacci Retracement 2.1160 - 1.3681
1.368112 June 2001 Low
 
The above technical analysis were based on FX Operator Forex Blitz 2. To get a copy of this profitable trading system, please click here.

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Pound breaks Dollar's 11 consecutive days of rally. Yen continues to strengthen against Euro
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Market Analysis - Forex Currency Outlook
Tuesday, 19 August 2008
Euro-Yen Forex Outlook
Weekly
 Euro-Yen continued its downward trend as the pair moved past 162.93/98 area and now targeting 160.83 before 158.67. Upside resistance now at Fibonacci retracements of 169.95 to 161.37 at 163.39, 164.65 and break above 166.67 would turn the outlook back towards the topside.

Downtrend

Daily Daily breaks lower near last week low indicates that the momentum remains on the downside for the time being. Downside support at 160.83 with possible push lower towards multiple confluence at 158.59/67/82. Upside resistance now at 162.93/98.

 Downtrend

4-Hour Break below 161.37 support now targets 160.83 and 160.49 before 158.59/82 area. Above 162.76 should see the pair move up to 163.86 before 164.65/70. Bias on short.

 Downtrend

Resistance Levels
180.08 161.8% Fibonacci Extension Level H164.98 L151.70 S158.59
176.94 138.2% Fibonacci Extension Level H164.98 L151.70 S158.59
171.87 100.0% Fibonacci Extension Level H164.98 L151.70 S158.59
169.95/99 Historic High; Psychological Barrier
168.91Weekly Pivot R3
168.1178.6% Fibonacci Retracement Level 160.99 - 169.95
167.24
Weekly Pivot R2
166.67
61.8% Fibonacci Retracement Level 160.99 - 169.95
165.61/64/6638.2% Fibonacci Retracement Level 169.95 - 158.59; 23.6% Fibonacci Retracement Level 169.95 - 151.70; 50.0% Fibonacci Retracement Level 160.99 - 169.95
164.65/7038.2% Fibonacci Retracement Level 160.99 - 169.95; Weekly Pivot R1
164.2750.0% Fibonacci Retracement Level 169.95 - 158.59
163.39
23.6% Fibonacci Retracement Level 160.99 - 169.95
163.03
Weekly Pivot
162.93/9861.8% Fibonacci Retracement Level 169.95 - 158.59; 38.2% Fibonacci Retracement Level 169.95 - 151.70
Support Levels
160.83 50.0% Fibonacci Retracement Level 169.95 - 151.70
160.49Weekly Pivot S1
158.82
Weekly Pivot S2
158.59/67 05 May Low; 61.8% Fibonacci Retracement Level 169.95 - 151.70
156.28
Weekly Pivot S3
155.6178.6% Fibonacci Retracement Level 169.95 - 151.70
151.70 20 March Low
Pound-Dollar Forex Outlook
Weekly

Dollar blew past the 100% Fibonacci extension mark of 1.8573 against Pound last week as the momentum continues to stay strong on the downside. Fibonacci retracement resistance from the high of 2.0156 moves lower now at 1.8899 first. As long the currency pair stay below 1.9334/36 the bias is still with the bears. Support at 1.8619 before 1.8511 with expected strong support at 1.8303.

Downtrend

Daily

Momentum remains flat as price went up towards 1.8721, 76 pips from the next resistance at 1.8797 weekly pivot before 1.8899. Downside support at 1.8619 before 1.8511 before 1.8332/40.

 Neutral

4-Hour Momentum turns flat with MACD still maintain above waterline. Break below 1.8616 would encourage the pair to move lower towards 1.8511. Upside resistance at 1.8721 before 1.8797 weekly pivot.

 Neutral

Resistance Levels
2.1160 09 November 2007 High
2.059378.6% Fibonacci Retracement 1.8511 - 2.1160
2.019023.6% Fibonacci Retracement 2.1160 - 1.7049
2.0148/56 61.8% Fibonacci Retracement 1.8511 - 2.1160; 15 July High
1.9828/36Weekly Pivot R3; 50.0% Fibonacci Retracement 1.8511 - 2.1160
1.9804
78.6% Fibonacci Retracement 1.8511 - 2.0156
1.959038.2% Fibonacci Retracement 2.1160 - 1.7049
1.9541Weekly Pivot R2
1.9523/28
38.2% Fibonacci Retracement 1.8511 - 2.1160; 61.8% Fibonacci Retracement 1.8511 - 2.0156
1.939523.6% Fibonacci Retracement 2.1160 - 1.3681
1.9334/3650.0% Fibonacci Retracement 1.8511 - 2.0156; 22 January Low
1.927061.8% Fibonacci Extension H2.1160 L1.9336 R2.0397
1.9136/3923.6% Fibonacci Retracement 1.8511 - 2.1160; 38.2% Fibonacci Retracement 1.8511 - 2.0156
1.910550.0% Fibonacci Retracement 2.1160 - 1.7049
1.9084Weekly Pivot R1
1.902961.8% Fibonacci Extension H2.1160 L1.9336 R2.0156
1.8899
23.6% Fibonacci Retracement 1.8511 - 2.0156
1.8797Weekly Pivot
Support Levels
1.8619
61.8% Fibonacci Retracement 2.1160 - 1.7049
1.8573100.0% Fibonacci Extension H2.1160 L1.9336 R2.0397
1.8511
15 August 2008 Low
1.8332/40
100.0% Fibonacci Extension H2.1160 L1.9336 R2.0156; Weekly Pivot S1
1.8303
38.2% Fibonacci Retracement 2.1160 - 1.3681
1.8053Weekly Pivot S2
1.7929
78.6% Fibonacci Retracement 2.1160 - 1.7049
1.7876
138.2% Fibonacci Extension H2.1160 L1.9336 R2.0397
1.7635
138.2% Fibonacci Extension H2.1160 L1.9336 R2.0156
1.7596Weekly Pivot S3
1.7446
161.8% Fibonacci Extension H2.1160 L1.9336 R2.0397
1.7421
50.0% Fibonacci Retracement 2.1160 - 1.3681
1.7205
161.8% Fibonacci Extension H2.1160 L1.9336 R2.0156
1.704928 November 2005 Low
1.6538
61.8% Fibonacci Retracement 2.1160 - 1.3681
1.5282
78.6% Fibonacci Retracement 2.1160 - 1.3681
1.368112 June 2001 Low
 
The above technical analysis were based on FX Operator Forex Blitz 2. To get a copy of this profitable trading system, please click here.

Subscribe to FX Operator FX Operator now supports RSS syndication in HTML format. Please click here to subscribe with Feedburner and receive all new articles and analysis via email. If you prefer not to have feedburner feeds, you may also subscribe FX Operator RSS.

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Financial Data for NFA Futures commission merchants (FCMs) as of June 2008
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Trader Blog - Forex Journal
Tuesday, 19 August 2008

CFTC
CFTC
I have sorted out the updated data from CFTC for NFA-regulated FCMs as of June 2008. As you can see from the list below, GFT Forex stands out as one of the well capitalized FCMs with excess net capital of more than $60m. For a complete list of Forex dealers, please click here to download.

List of some popular FCMs with excess net capital of more than $10m:

  • GLOBAL FUTURES &  FOREX LTD
  • FOREX CAPITAL MARKETS LLC
  • GAIN CAPITAL GROUP LLC
  • INTERBANK FX LLC
  • FX SOLUTIONS LLC
  • CAPITAL MARKET SERVICES LLC
  • 3D FOREX, LLC
  • I TRADE FX LLC

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Euro-Yen and Pound-Dollar Week 34 Outlook
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Market Analysis - Forex Currency Outlook
Monday, 18 August 2008

EURJPY Weekly Chart
EURJPY Weekly Chart

Euro-Yen Forex Outlook
Weekly
 Euro-Yen continued its downward trend as the pair moved past 162.93/98 area and now targeting 160.83 before 158.67. Upside resistance now at Fibonacci retracements of 169.95 to 161.37 at 163.39, 164.65 and break above 166.67 would turn the outlook back towards the topside.

Momentum is down

Daily Daily continues to show bearish movement as momentum remains down but stochastic is higher. break above 163.39 could see retracement in progress with further upside resistance at 164.65/70. Downside support at last week's low before 160.83.

 Downtrend

4-Hour At time of posting momentum is poised to move to the upside as  price continue to consolidate above 161.37 support. Above weekly pivot should see price towards 163.39 before 163.87. Downside support at 161.78 before 161.47.

 Neutral

Resistance Levels
180.08 161.8% Fibonacci Extension Level H164.98 L151.70 S158.59
176.94 138.2% Fibonacci Extension Level H164.98 L151.70 S158.59
171.87 100.0% Fibonacci Extension Level H164.98 L151.70 S158.59
169.95/99 Historic High; Psychological Barrier
168.91Weekly Pivot R3
168.1178.6% Fibonacci Retracement Level 161.37 - 169.95
167.24
Weekly Pivot R2
166.67
61.8% Fibonacci Retracement Level 161.37 - 169.95
165.61/64/6638.2% Fibonacci Retracement Level 169.95 - 158.59; 23.6% Fibonacci Retracement Level 169.95 - 151.70; 50.0% Fibonacci Retracement Level 161.37 - 169.95
164.65/7038.2% Fibonacci Retracement Level 161.37 - 169.95; Weekly Pivot R1
164.2750.0% Fibonacci Retracement Level 169.95 - 158.59
163.39
23.6% Fibonacci Retracement Level 161.37 - 169.95
163.03