Mon, Sep 7 2009, 10:58 GMT
http://www.fxstreet.com
FXstreet.com (Barcelona) - Euro rally from 1.4190 low on Friday has extended to 1.4360 high on European session and the Euro has remained hovering between 1.4340/55 for most of the European session.
Above 1.4365 intra-day high, next resistance levels lie at 1.4375 (Sept 1 high) and 1.4405 (Aug 27 high). On the downside, initial support lies at 1.4315/25, and below there, 1.4285 and 1.4230.
According to Greg Holden, technical analyst at ForexYard, a bearish cross on 4hr charts slow stochastics might advance a downwaerd move: "The daily chart is showing mixed signals with its RSI fluctuating at the neutral territory. However, there is a fresh bearish cross forming on the 4-hour chart's Slow Stochastic indicating a bearish correction might take place in the nearest future. Going short might be a wise choice."
EUR/USD
EUR/USD (Sep 07 at 13:08 GMT)
1.4332/34 (0.19%)H 1.4363 L 1.4299S3 S2 S1 R1 R2 R3
1.4254 1.4290 1.4326 1.4338 1.4373 1.4409
[?]Trend Index [?]OB/OS Index
Neutral Neutral
Data updated on Sep 07 at 13:05 (15-minute timeframe)
Monday, September 7, 2009
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Saturday, September 5, 2009
Technical News & Forex Actual Analysis - Thursday, 3 Sep 2009
Posted: 03 Sep 2009 12:28 AM PDT
Forex signals and technical analysis can be affected by the news report (fundamental)
EUR/USD Actual Analysis At 03.09.2009
The cross has been very volatile lately, and recorded much bullishness yesterday. Much of today's oscillators seem to be misleading. However, both the 4-hour and weekly charts offer a more accurate picture. The 4-hour chart's Stochastic Slow shows that the pair is floating in the overbought territory, and a downward correction is imminent. The MACD also supports the view that the pair is overbought. Going short with tight stops may turn out to pay off today.
Dangerous High ( Stop Buy Here ) = 1.4412
Maximum Up Trend = 1.4354
Reversal High = 1.4317
Middle Line ( Pivot ) 1.4247
Reversal Low= 1.4186
Maximum Down Trend = 1.4140
Dangerous Low ( Stop Sell Here ) = 1.4096
Yesterday High : 1.4291
Yesterday Low : 1.4189
Price Move = EURUSD Goes To High Market / Blue Area
4 Hours Current Trend =UP TREND ( WEAK )
Daily Current Trend =UP TREND ( WEAK )
Forex signals and technical analysis can be affected by the news report (fundamental)
EUR/USD Actual Analysis At 03.09.2009
The cross has been very volatile lately, and recorded much bullishness yesterday. Much of today's oscillators seem to be misleading. However, both the 4-hour and weekly charts offer a more accurate picture. The 4-hour chart's Stochastic Slow shows that the pair is floating in the overbought territory, and a downward correction is imminent. The MACD also supports the view that the pair is overbought. Going short with tight stops may turn out to pay off today.
Dangerous High ( Stop Buy Here ) = 1.4412
Maximum Up Trend = 1.4354
Reversal High = 1.4317
Middle Line ( Pivot ) 1.4247
Reversal Low= 1.4186
Maximum Down Trend = 1.4140
Dangerous Low ( Stop Sell Here ) = 1.4096
Yesterday High : 1.4291
Yesterday Low : 1.4189
Price Move = EURUSD Goes To High Market / Blue Area
4 Hours Current Trend =UP TREND ( WEAK )
Daily Current Trend =UP TREND ( WEAK )
U.S. Economy: Payroll Losses Slow, Unemployment Rate Climbs
U.S. Economy: Payroll Losses Slow, Unemployment Rate Climbs
By Timothy R. Homan
Sept. 4 (Bloomberg) -- The pace of U.S. job losses slowed in August while the unemployment rate reached a 26-year high, signaling the recovery from recession will be slow to develop.
Employers cut payrolls by 216,000, fewer than forecast, after a 276,000 drop in July, Labor Department data showed today in Washington. The jobless raterose to 9.7 percent; the so- called underemployment rate -- which includes part-time workers who’d prefer a full-time position and people who want work but have given up looking -- reached a record 16.8 percent.
Today’s figures stoke concern that the recovery forecast to take hold in the second half of the year won’t prompt a turnaround in the job market until 2010. With the ranks of long- term unemployed nearing 5 million, workers are at risk of losing skills, making it even tougher for them to eventually find work.
“The economy is no longer detonating, but we are still losing jobs,” David Rosenberg, chief economist at Gluskin Sheff & Associates Inc. in Toronto, said in an interview with Bloomberg Radio. “It’s going to be a very tough environment for the consumer.”
Stocks fluctuated after the release, and the Standard & Poor’s 500 Index was up 0.3 percent at 1,005.99 as of 11:23 a.m. in New York. Treasuries were lower, with benchmark 10-year notes yielding 3.38 percent from 3.35 percent late yesterday.
Rising joblessness underscores Treasury Secretary Timothy Geithner’sjudgment this week that it’s “too early” to start exiting from the unprecedented stimulus measures aimed at stabilizing the economy.
Lowering Costs
AMR Corp. and Whirlpool Corp. are among the companies continuing to cut staff to lower costs and revive profits in the aftermath of the deepest recession since the 1930s.
“The labor market lags behind the rest of the economy, so we are first going to have to see positive GDP growth,” Christina Romer, chairman of the White House Council of Economic Advisers, said in a Bloomberg Radio interview. While 9.7 percent unemployment is “a tragedy,” Romer noted that the pace of job losses has slowed from 741,000 in January.
Romer said the Obama administration’s $787 billion fiscal stimulus is working to boost growth and declined to comment on whether a second effort will be needed.
Revisions subtracted 49,000 from payroll figures previously reported for July and June. The drop for July is now calculated at 276,000, compared with the 247,000 previously reported.
Payrolls were forecast to fall 230,000 in August according to the median of 79 economists surveyed by Bloomberg News. The jobless rate was projected to rise to 9.5 percent. Analysts in a monthly Bloomberg survey projected the jobless rate will reach 10 percent by early 2010 and average 9.8 percent next year.
Recession’s Toll
The latest numbers brought total jobs lost since the recession began in December 2007 to 6.9 million, the biggest decline in any post-World War II economic slump.
Among the 14.9 million unemployed Americans in August, 4.99 million were out of work for more than 26 weeks. The percentage of jobless who weren’tclassified as on temporary layoff rose to 53.9 percent, up from 39.1 percent a year ago.
“Layoffs that we’re having are more structural and not cyclical, and that makes it more difficult to have a meaningful rebound in income growth, which is a key ingredient as I said for sustainable self re-enforcing expansion,” said Tony Crescenzi, a market strategist and portfolio manager at Pacific Investment Management Co., manager of the world’s biggest bond fund.
Breadth of Declines
All major job categories recorded losses in August, with construction payrolls tumbling 65,000, factories cutting another 63,000 and retailers firing 10,000 people.
Whirlpool, the world’s largest appliance maker, is among those firms still eliminating positions. The Benton Harbor, Michigan-based company said Aug. 28 it will close its Evansville, Indiana, manufacturing plant, resulting in the elimination of 1,100 jobs.
Fort Worth, Texas-based American Airlines, a unit of AMR, said this week it will furlough 228 flight attendants and put 244 more on involuntary leave.
Federal Reserve officials had “particular” concern about the job market when they met Aug. 11-12, minutes of the gathering showed this week.
“Long-term unemployment and permanent separations continued to rise, suggesting possible problems of skill loss and a need for labor reallocation that could slow recovery in employment begins to expand,” the Fed said in the minutes released Sept. 2.
Fed Rate Changes
Federal Reserve policy makers waited at least a year after unemployment peaked before raising interest rates in the aftermath of the previous two recessions.
Chairman Ben S. Bernanke, credited with preventing a second depression in winning nomination by President Barack Obama for a second term last month, has overseen a $1.2 trillion expansion of the central bank’s balance sheet to combat the credit crisis.
Today’s report also showed the average work week held at 33.1 hours in August. Average weekly hours worked by production workers remained unchanged from the month before, at 39.8 hours, while overtime also held at 2.9 hours. That brought the average weekly earnings up to $617.32 from $615.33.
“We’re still going to see some months of job cuts,” said Brian Bethune, chief financial economist at IHS Global Insight in Lexington, Massachusetts. “There is a whole range of options, like adding shifts or hours, that companies can put in place until it becomes necessary to hire people back.”
Workers’ average hourly wages rose 6 cents, or 0.3 percent, to $18.65 from the prior month. Hourly earnings were 2.6 percent higher than August 2008. Economists surveyed by Bloomberg had forecast a 0.1 percent increase from the prior month and a 2.2 percent gain for the 12-month period.
The U.S. recession “is bottoming out” and the economy is poised for “a slow return,” Alcoa Inc. Chief Executive Officer Klaus Kleinfeld said in a Sept. 2 interview. The head of the largest U.S. aluminum producer said government stimulus in the U.S. and China will affect the New York-based company’s earnings “positively” this year.
To contact the reporter on this story: Timothy R. Homan in Washington atthoman1@bloomberg.net
Last Updated: September 4, 2009 11:25 EDT
EURUSD: Reverses Declines, Keeps Eyes On The Upside
by Mohammed Isah (FXTechstrategy) | Fri, Sep 4 2009, 12:24 GMT
HIGHLIGHTS: GBPUSD: Recovering Higher Off Recent Low - Having backed off lower level prices at 1.6112 to close higher on Tuesday, GBP was seen following through higher in early trading today. EURUSD: Reverses Declines, Keeps Eyes On The Upside - As declines halted at 1.4272 and a higher close was seen on Tuesday, early morning strength today now looks to push the pair further higher towards the 1.4376 level where its Sept 01’09 high is located. GBPUSD GBPUSD: Still Looking To Recover Higher
Forex: Euro breaks above 1.4260 on recovery path
Fri, Sep 4 2009, 16:06 GMT
FXstreet.com (Barcelona) – Euro has recovered almost all of losses on the back of unemployment report against the Greenback and, after bouncing at 1.4195, EUR/USD has risen around 90 pips to trade above 1.4200 again, break 1.4260, MA55 in the hourly chart, and test 1.4282 level, MA200 in the hourly chart.
Currently, EUR/USD is trading around 1.4270/80, 0.35% below today's opening price action at 1.4258.
Currently, EUR/USD is trading around 1.4270/80, 0.35% below today's opening price action at 1.4258.
EUR/USD (Sep 04 at 16:33 GMT)
1.4309/10 (0.35%)
H 1.4327 L 1.4189
| S3 | S2 | S1 | R1 | R2 | R3 |
| 1.4218 | 1.4254 | 1.4290 | 1.4316 | 1.4352 | 1.4388 |
| [?]Trend Index | [?]OB/OS Index |
| Slightly Bullish | Neutral |
| Data updated on Sep 04 at 16:30 (15-minute timeframe) | |
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