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Keep Visiting Forexlearner for Latest Forex Daily Levels, Forex Live Rates, Forex Recommendations, Forex News*** "Headline News" October 05, 2007--- JAPAN ECON: Leading Index m/m 30.0% As Expected----

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FOREX SYGNALS SYSTEM

EURO

Latest trading recommendations 08.00 BST, 03.00 EST)  23-05-08 

Currency Date Time Strategy First Target Second target
EUR/US$ (buy) 22-05-08 13.00 Short term buy at 1.5635 1.5655 1.5675
EUR/US$ (sell) 23-05-08 08.00 Short-term, sell at 1.5810 1.5780 1.5750
US$/CHF (buy) 23-05-08 08.00 Short term, buy at 1.0255 1.0275 1.0295
US$/CHF (sell) 22-05-08 13.00 Short term, sell at 1.0395 1.0375 1.0355
AUD/US$ 21-05-08 13.00 Short term, sell at 0.9650 0.9620 0.9590
US$/CAD 21-05-08 13.00 Short term, buy at 0.9830 0.9850 0.9870
EUR/CHF 19-05-08 13.00 Short term, sell at 1.6350 1.6330 1.6310

(We suggest investors make their own stop-loss decisions. We will, however, assume that all trades have stop losses at 30 pips from entry unless we advise otherwise)

Pound

Latest short-term trading recommendations 08.00 BST, (03.00 EST)  23-05-08

Currency Date Time Strategy First target Second target
GBP/US$ (buy) 23-05-08 08.00 Short term buy at 1.9550 1.9580 1.9610
GBP/US$ (sell) 23-05-08 08.00 Short term sell at 1.9840 1.9815 1.9790
EUR/GBP (buy) 06-05-08 13.00 Short term, buy at 0.7810 0.7830 0.7850
EUR/GBP (sell) 23-05-08 08.00 Short term, sell at 0.8000 0.7980 0.7960
           

(We suggest investors make their own decisions on stop-loss positions. We will, however assume that all trades have stop losses at 30 points unless we advise otherwise)

Thursday, June 28, 2007

TODAY RECOMMENDATION ( GMT + 7 )

GBP / USD
28 June 2007 14:03:12
Price ; 2.0029

Expected Range 2.0073 - 1.9928
Support 1.9949 / 1.9906 / 1.9884
Resistance 2.0015 / 2.0036 / 2.0079
Recommendation sell 2.0060-70, SL 2.0110, TP 2.0010


EUR/USD
28 June 2007 05:22:58
Closed:1.3446

Expected Range 1.3410 - 1.3476
Support 1.3425 / 1.3392 / 1.3369
Resistance 1.3454 / 1.376 / 1.3502
Recommendation Sell 1.3476 TP 1.3410 SL 1.3480
Buy 1.3420 SL 1.3474 SL 1.3400


USD / JPY
28 June 2007 05:23:46
Closed:122.66

Expected Range 122.10 - 123.00
Support 122.30 / 121.98 / 121.57
Resistance 122.80 / 123.13 / 123.57
Recommendation Sell 123.00 TP 122.30 SL 123.50


USD/CHF
28 June 2007 05:25:08
Closed:1.2286

Expected Range 1.2250 - 1.2318
Support 1.2257 / 1.2220 / 1.2202
Resistance 1.2300 / 1.2332 / 1.2351
Recommendation Buy 1.2250 TP 1.2300 SL 1.2220
Sell 1.2300 TP 1.2260 SL 1.2320

TODAY RECOMMENDATION

GBP / USD
28 June 2007 05:24:23
Closed:1.9986

Expected Range 1.9908 - 2.0005
Support 1.9940 / 1.9905 / 1.9865
Resistance 1.9991 / 2.0005 / 2.0024
Recommendation Sell 1.9990 TP 1.9935 SL 2.0005
Buy 1.9950 TP 2.0000 SL 1.9930


EUR/USD

28 June 2007 05:22:58
Closed:1.3446

Expected Range 1.3410 - 1.3476
Support 1.3425 / 1.3392 / 1.3369
Resistance 1.3454 / 1.376 / 1.3502
Recommendation Sell 1.3476 TP 1.3410 SL 1.3480
Buy 1.3420 SL 1.3474 SL 1.3400


USD / JPY
28 June 2007 05:23:46
Closed:122.66

Expected Range 122.10 - 123.00
Support 122.30 / 121.98 / 121.57
Resistance 122.80 / 123.13 / 123.57
Recommendation Sell 123.00 TP 122.30 SL 123.50


USD/CHF
28 June 2007 05:25:08
Closed:1.2286

Expected Range 1.2250 - 1.2318
Support 1.2257 / 1.2220 / 1.2202
Resistance 1.2300 / 1.2332 / 1.2351
Recommendation Buy 1.2250 TP 1.2300 SL 1.2220
Sell 1.2300 TP 1.2260 SL 1.2320

Forex Exchange Morning Report

New Zealand Dollar: Carry trade unwinding back on?

With regional equity markets recording noticeable falls yesterday and markets still spooked by the US sub-prime mortgage market the focus was very much on the unwinding of the carry trade. NZD/JPY started the day around 94.40 and steadily headed lower which in turn put pressure on the NZD as it struggled to stay above 0.7650. Something had to give and when it did the NZD fell as low as 0.7572 during the offshore timezone with a lot of the flows coming from models reacting to price action rather than discretionary accounts taking big risk aversion bets. NZD/JPY dropped as low as 92.60 but has since recovered to open this morning around 93.05.

Australian Dollar: AUD hit hard on crosses

The AUD suffered for all the same reasons as the NZ dollar with selling pressure on the crosses knocking it from 0.8460 at the open to a 2 week low of 0.8355 overnight. AUD/JPY fell as low as 102.20 from opening levels above 104.00. The AUD managed a mild recovery late NY time to end the session around 0.8380 however more downside tests could be in the offing if we see further fallout from Asian stockmarkets today.

Major Currencies: Yen rebounds on risk aversion

The risk aversion theme continued yesterday, with the further unwinding of yen funded carry trades. As a result, the Japanese currency made broadbased gains rebounding from multi-year lows against the USD and euro. JPY fell from an early high of 123.27 to post an overnight low of 122.23, while EUR/JPY has slipped more than 2% from last week's record highs. Despite a softer than expected US durable goods reading for May, the euro was unable to sustain early gains as focus now turns to tomorrow's FOMC outcome.

Japanese retail sales slightly better than expected in May. The 0.1%yr headline compares to expectations of 0.4% decline, and the -0.7% outcome of the prior month. The ex-automotive series expanded 0.7%yr, against a 1.0% gain in April.

Japanese small business confidence fell back in June. The headline index fell to 48.4 from 49.3 in May. The manufacturing segment came in at 48.7 and the remainder at 48.2.

US durable goods orders down 2.8% in May. After two months of stronger outcomes, durable orders unwound some of their recent recovery in May. It was no surprise that civilian aircraft orders were down 23%; that was consistent with Boeing data. But there was softness elsewhere in the report, including the core capital goods component, down for the first month in three, by 3%. However, this is often a volatile report, reflecting the typically lumpy nature of orders. If we look at the figures on a three month annualised basis, we see that core capital goods orders have turned around from -18% in the three months to Feb, to +7.5% in the May quarter. So the latest data are not soft enough to undermine the view that there is something of a factory sector revival underway in the current quarter; and that business investment is likely to pick up as 2007 progresses. The modest but positive gains in both shipments and inventories are also consistent with an improving activity picture.

UK CBI retail survey down from 31 to 17 in June. June retail sales slowed sharply according to the Confederation of British Industry survey. This could be due to the cooler weather this month, or it could be a correction lower after several stronger readings that did not sit well with the more subdued official retail sales figures of the last few months. Or there may be a genuine consumer slowdown emerging - something that various members of the BoE monetary policy committee suspect is the case. This result does not resolve the issue but it certainly helps keep alive the possibility that the BoE waits a little longer to assess the incoming data flow before tightening again. In other UK news, British Bankers' Association figures showed stronger mortgage lending in May, although that might reflect shifting market share between the various types of lenders.

Wednesday, June 27, 2007

TODAY RECOMMENDATION

GBP / USD
27 June 2007 14:23:55
Price ; 1.9938

Expected Range 2.0015 - 1.9886
Support 1.9957 / 1.9928 / 1.9899
Resistance 2.0015 / 2.0044 / 2.0073
Recommendation sell 1.9940-50, SL 1.9990, TP 1.9890
buy 1.9885-90, SL 1.9835, TP 1.9935



EUR/USD
27 June 2007 14:35:32
Price ; 1.3426

Expected Range 1.3455 - 1.3372
Support 1.3430 / 1.3408 / 1.3384
Resistance 1.3476 / 1.3500 / 1.3522
Recommendation sell 1.3430-35, SL 1.3480, TP 1.3380


USD / JPY
27 June 2007 04:32:30
Closed;123.20

Expected Range 122.57 - 123.80
Support 123.13 / 122.80 / 122.57
Resistance 123.63 / 123.92 / 124.06
Recommendation Sell 123.50 TP 122.90 SL 123.90
Buy 123.00 TP 123.70 SL 122.80


USD/CHF
27 June 2007 04:34:00
Closed:1.2258

Expected Range 1.2213 - 1.2305
Support 1.2258 / 1.2230 / 1.2212
Resistance 1.2297 / 1.2316 / 1.2354
Recommendation Sell 1.2296 TP 1.2240 SL 1.2310
Buy 1.2250 TP 1.2300 SL 1.2200

This Signal design just for currency GBP/US, EU,CHF

Great British Pound(GBP) 26/6/2007

The British pound rallied towards the physiological barrier at almost 2.0000 after gathering suitable levels of bullish momentum to lead the pound to get over the key resistance level at 1.9930s to set new short term target at 2.0050 by today.

The trading range for today might be between the key resistance level at 2.0065 and the key support level at 1.9900.

The general trend is up as far as 1.9475 and 1.9360 remains intact targets now at 2.0100 and 2.0240

Recommendation : We expect buying sterling above 1.9965 with a target at 2.0030, stop loss below1.9915.

(EURO)

The Euro rallied towards the upside last week after it passed easily the major resistance level at 1.3420s to reach to the top and close at the high levels at 1.3460s; forming by that a bullish pattern to set the short-term targets at 1.3497 and then at 1.3537. Therefore we expect a bullish move for today with high levels of momentum.

The trading range for today might be between the key resistance level at 1.3530s and the key support level at 1.3390.

The general trend is up as far as 1.1.3235 remains intact targets now at 1.3600 and 1.3840

Recommendation : We expect buying euro above 1.3449 with a target at 1.3495, stop loss below 1.3410.

SWISS Frank(CHF)

The dollar against the SWISS Frank rallied towards the downside after it formed a strong bearish pattern due to the high levels of bearish momentum last week to hit the bottom as low as 1.2280s. Hence the expected move for the pair today might be towards the downside until 1.2230s levels.

The trading range for today will be between the key resistance at 1.2320 and the key support at 1.2230.

The general trend is down as far as 1.2540 remains intact, targets at 1.1875 and 1.1665.


Recommendation : We expect selling USD/CHF below 1.2300 with a target at 1.2240, stop loss above 1.2350

Tuesday, June 26, 2007

EUR/USD Analysis & Forecast

The Euro moved on a narrow range between the resistance at 1.3470 and the first support at 1.3435 on yesterday, closing the day slightly lower versus the dollar. Support is formed at 1.3435 backed by 1.3395 and 1.3370. Resistance emerges at 1.3470 followed by 1.3520 and 1.3550. Daily sentiment is bullish and remains intact while 1.3435-1.3440 holds, hourly momentum is neutral at the time of this writing but close o entering a bullish phase. The sideways trading may continue due to the lack of key economic events during the next trading sessions. A potential break of 1.3470 would support an Euro test of 1.3500-1.3520 later while on the other side, a break below the key daily support at 1.3435 would bring the lows of 1.34 and a potential slip below 1.3400 back on our attention. Looking on the longer time frame charts, a break of 1.3515 is needed to confirm a full recovery of the Euro which would be noticed on the weekly charts - 50 fib retracement of the 1.3680-1.3265 decline. Current quote is 1.3465 @ 06:05 GMT

Asian Market Update:

The rose against the Dollar in Asian trading after Japan’s finance minister warned that markets should be aware of the risks of one-way best against the Japanese currency.

The comments by Koji Omi echoed remarks made by officials at Group of Seven meetings in the past referring to carry trades and suggested some concern about the pace of the Yen’s slide.

Omi’s remarks also come as investors fear about whether authorities in Switzerland and Taiwan were trying to spook the market from using their currencies in carry trades by pushing short-term interest rates higher.

It is the second time in the past few weeks Omi commented on currencies, having started to say earlier this month he was watching the market carefully.

Over the weekend the Bank for International Settlements warned in its annual report about the risks of carry trades and said there was “clearly something anomalous” about the Yen’s weakness.

A drop in Japanese shares also kept the market on edge for any potential rush out from risky positions such as carry trades.

The Nikkei share average fell 0.3%, following a drop in US stocks on worries about investment bank Bear Stearns bailing out a second hedge fund it manages that invested heavily in subprime mortgages.

The market is now waiting for the Federal Reserve policy meeting this Thursday for clues on the central bank’s thinking about the economy’s health.


Technicals:

EURUSD
The move above 1.3438 indicates new strength and 1.3502 is now in focus. Support is at 1.3438 and 1.3371.

GBPUSD
A break of 2.0006 can lead to 2.0020 and then 2.0100. Support at 1.9990 and 1.9960.

USDJPY
Prices are retrieving with 123.10 now being the target. A break there will lead to 122.89. Resistance at 123.95 and then 124.14.

EURJPY
Resistance now at 166.94. A break of 165.20 support will trigger a move lower to 164.62.

AUDUSD

Bullish momentum will stay as long as prices stay above 0.8425. Next resistance at 0.8494 and then 0.8505.

Friday, June 15, 2007

Asian Market Update:

The Dollar held onto its gains in Asian trading, boosted by a rise in US Treasury yields to a five-year high this week, while investors renewed their appetite for risk and sold the low-yielding Yen in carry trades.

The market awaits for the US consumer price data later today to see if Treasury yields rise further, as well as comments by Bank of Japan Governor Toshihiko Fukui after the policy meeting at which the central bank held rates at 0.5% as widely expected.

Market participants expect the BOJ to raise rates to 0.75% as early as August, and they want to see if Fukui says anything to bolster that view.

Some traders say however, that even if he does any resulting Yen gains will likely be short lived as the BOJ is expected to take its time in raising rates, keeping them well behind those of other countries.

The US core consumer price index is expected to have risen by a moderate 0.2% in May from April. Also due are US industrial production figures and a consumer sentiment survey. Strong readings could signal ongoing strength in the US economy which would support the Dollar.

The Dollar is trading at 123.02 Yen near the 123.13 Yen level hit in New York trade yesterday. Traders noted that domestic investment trusts were selling the Yen against other currencies as they hunt for higher yields on behalf of individual investors putting their bonuses to work.

High-yielding currencies like the Australian and New Zealand Dollars also gained against the Yen, climbing as much as 0.3% and 0.4% respectively.

Technicals:

EURUSD
A push above 1.3315/19 can lead to 1.3335 and then 1.3369. Support at 1.3262 and then 1.3229.

GBPUSD
Resistance at 1.9735 and then 1.9785. Support at 1.9695 and 1.9665.

USDJPY
A break of the 123.13 high can lead to 124.05. Support at 122.85 and then 122.55.

EURJPY
A break through 163.37 can lead to 163.79 and 164.00. Support at 163.55 and 163.35.

AUDUSD

Downside pressure is increasing on daily charts with resistance now at 0.8406. Support at 0.8365 and then 0.8335.

Forex Recommendation