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Forex Levels In SigmaForex

break, bring, delay, forex, happen, impulse, levels, main, resistance, sigmaforex, support — Posted by sigmaforexbrief @ 05:52

Forex Recommended Levels


USD/CHF


Today's support: - 1.0920, 1.0901 and 1.0884(main), where correction could happen. Break would give 1.0855, where a correction may happen. Then 1.0834. If a strong impulse, we would see 1.0818. Continuation will give 1.0800.
Today's resistance: - 1.0972 and 1.0991(main), where a delay and correction may happen. Break would give 1.1024, where also could be a correction. Then 1.1050. If a strong impulse, we would see 1.1071. Continuation will give 1.1088.



Today's support: - 1.8293 and 1.8270 (main), where correction may happen. Break would present 1.8244, where a correction may also be. Then 1.8227. If a strong impulse, we would see 1.8205. Continuation will give 1.8194 and 1.8180.
Today's resistance: - 1.8417 and 1.8430(main). Break would give 1.8453, where a correction may be. Then 1.8471. Break of the latter would give 1.8496. If a strong impulse, we would see 1.8516. Continuation will bring 1.8530.

SigmaForex | Asian Market Update

action, asian market, broke, currency, data, demand, forex, future, report, sigmaforex, support, USD — Posted by sigmaforexbrief @ 05:20

Asian Market Update



USD takes a beating; Oil touches $119/bbl as Gustav approaches Gulf

Forex: The USD extended losses during a quiet Asian session, with traders hearing rumors of Asian central banks buying EUR. The ECB's Weber's comments on Wednesday were quite hawkish, correcting some of the easing expectations in 2009, and further supporting the EUR. EUR/USD broke above hourly resistance at 1.4740, and also triggered stops after breaking above yesterday's high at 1.4777. AUD/USD broke above 0.8600, supported by bullish data, and traders reported solid demand out of Tokyo (hearing that there will be 'toshin' demand for the fix).
Korean authorities once again used verbal jawboning to support the KRW, warning that they will take action if 'herd behavior' moves the KRW.
- Japan's Nikkei business daily reported that the United States, Europe and Japan planned to intervene and rescue the USD when it was plunging in March, citing sources familiar with the situation. According to the paper, authorities drew up a currency contingency plan over the weekend of March 15-16, at the time when Bear Stearns collapsed.
The officials did not specify levels that would initiate intervention, but in the event of a free-fall they agreed to aggressively buy the greenback. Analysts stressed the importance of this new information: Even though a rescue never took place at the time, it shows that global monetary officials had agreed on action to support the USD, which would be important in the future if the currency were to tumble again. Officials declined to comment on the report.

SigmaForex | Dollar Gains

currency, dollar trading, forecast, forex, japanese yen, markets, offshore, oil prices, orders, platforms, sigmaforex, strength, trading, us — Posted by sigmaforexbrief @ 05:02

Oil Threatening Dollar Gains


U.S. Dollar Trading (USD) was on the backfoot early in the day as commodities found strength and recent dollar gains were pared back. US Durable Good Orders were significantly higher than expected in July coming at 1.3% (.1% expected) putting the Dollar bulls back in control. Oil surged higher a possible superstorm developed in the Gulf of Mexico threatening offshore Oil platforms. In the U.S. share markets, the NASDAQ was up 20 points (0.87%) and the Dow Jones was up 89 points (0.79%). Crude Oil closed up $1.88 ending the New York session at $118.15 per barrel. Looking ahead, big data day ahead with Core PCE Q2 expected at 2.1% along with GDP Q2 seen at 2.7% annualized. Weekly Jobless Claims are expected to ease slightly to 428K.


The Euro (EUR) was able to make substantial gains after bouncing off the multi month lows of Tuesday. Hawkish ECB comments from multiple members tempered speculation of interest rate cuts before the end of the year, which combined with surging Oil supported the single currency. German CPI figures showed a drop of -0.3% in August. Overall the EUR/USD traded with a low of 1.4634 and a high of 1.4777 before closing the day at 1.4725 in the New York session. Looking ahead, German Unemployment Rate seen unchanged at 7.8% after an Unemployment change forecast at -10K in August.

The Japanese Yen (JPY) stock weakness and early dollar weakness allow the Yen to strengthen falling off the 109 handle before stocks rebounded on strong US data. Crosses were heavy lead by the EUR/JPY which tested the 160 support. Overall the USDJPY traded with a low of 108.70 and a high of 108.89 before closing the day around 109.50 in the New York session.

SigmaForex | Hawkish ECB Talk Helps Euro

dollar, economy, forex, interest rates, oil prices, orders, pair, platforms, resistance, sigmaforex, stock prices, support, test, trading, yen — Posted by sigmaforexbrief @ 04:59

Hawkish ECB Talk Helps Euro


The dollar traded mixed Wednesday after US durable-goods orders unexpectedly advanced in July and oil prices rose for a third day as Tropical Storm Gustav is moving toward production platforms in the Gulf of Mexico. The yen was little changed despite higher US stock prices.
The euro rose on hawkish ECB comments. Sterling continued its decline following yesterday's important break of support at the 1.85-handle. The Canadian and Australian dollars were little changed.

The EUR/USD rose after contrasting statements from ECB and Fed officials. ECB council member Axel Weber said discussion about a reduction in interest rates is 'premature' and ECB council member Klaus Liebscher said 'vigilance is more necessary than ever' regarding inflation. Meanwhile, Atlanta Fed President Dennis Lockhart said: 'Current Fed policy is consistent with an easing in overall inflation given the dynamics of the economy.' The Fed believes the slowing growth will fix the inflation problem despite its lax monetary policy, while the ECB believes monetary policy has to be tight to control inflation. Unfortunately, the Fed's lax policy increases worldwide inflation, so the ECB has limited power in controlling inflation. The pair has been trading in the 1.46-1.49 for the last two weeks reducing its oversold condition. There are strong support in the 1.44-1.45 area and good resistance in the 1.49 area. We believe there will be a test of the support. If this support is broken, the pair may fall to 1.35.

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