Futures Technical Analysis

EUR/NZD is continuing to fall inside the Falling Wedge chart pattern identified by Autochartist on the daily charts. The overall Quality of this chart pattern is measured at the 5 bar level which reflects the following values of the individual Quality indicators: low Initial Trend (measured at the 3 bar level), above-average Uniformity and Clarity (both rated at the 6 bar level). This chart pattern continues the prevailing downtrend visible on the daily and the weekly charts. Point A of this chart pattern formed near the combined resistance area made out of the round price level 1.8800 and the 50% Fibonacci Retracement of the preceding downward impulse (which itself started from the 61,8% Fibonacci Correction of the previous longer-term weekly down impulse, as can be seen on the second chart below). Points C and A enclose the sharp upward ABC correction which was completed by the first downward impulse of this chart pattern (from A to D) – breaking the former...

  The USD/JPY had a slightly bearish day on Friday, only to print another hammer-like candle at the close. This looks interesting to us as it is sitting right on massive support at the moment. This pair will be monitored by the central banks around the world, and a buy on strength could be possible – if we get it. A close above 81 gets us particularly interested in buying.

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The pressure is still on the single currency on increasing European requests for Portugal to accept a funding loan of its deficit from the IMF and European commission prepared package for the debt problems of the Euro area following Ireland while they have new assurance from Spain that it is not in need of this package satisfied with the current bond market conditions and how it was obvious to the market that the Irish yields have gone down as it has become less exposed to the normal bond market conditions which have become sever to its financial position, after the announcement about its reached deal for having funds from this package as it has restored the confidence on the offered debts giving stability of its position supporting the position of the other European countries after the yield differential have increased recording new highs between the suffering countries like Ireland and Germany as the most stable trusted country and first funding...

What defines a day trader is that he does not hold on to a stock for more than a day. When the trader is attempting to sell off all his/her stock positions within the closing time of the trading day, it is best to make use of technical analysis. This analysis is highly recommended for day trading. It observes the stock prices over the past, whether that be a month, a day or even an hour in order to determine the next likely change in the stock price. So by looking at a pattern you can perhaps follow a trend. Technical analysis often comes in the form of charts or graphs. Not every trader is a mathematical engineer meaning that technical analysis needs to be simple to follow and understand. There are of course much more complicated forms of technical analysis and, well, if you feel comfortable using them, then you should. The most common terms you’ll come across are “Support”, this...

The greenback came back after the better than estimated US confidence data which showed improvement to 50.2 in October from the revised 48.6 while analysts expected 49.9. However, the dollar remains under pressure before next week's Fed meeting which is expected to witness a second round stimulus to give another boost to the economy that started to show sluggishness. The dollar index rebounded from a low of 77.03 to a high of 77.68 where it is doing attempts to breach resistance at that level. On the other hand, the euro slipped after Mohamed A. El-Erian, Pacific Investment Management Co. Chief Executive Officer, said Greece will fall into default over the coming three years as the announced austerity measures are not sufficient to reduce the budget deficit that reached 13.6% of GDP last year. The announcement raised concerns that despite the improvement seen recently debt woes will cause recovery to falter. Concerning the euro-dollar pair, it is plummeted to a low of 1.3838 below 1.40 key...

By Leah Schnurr NEW YORK (Reuters) - Wall Street was set for a lower open on Tuesday, the day after hitting a five-month high, pressured by a stronger dollar and lackluster corporate results. Texas Instruments Inc <TXN.N> fell in premarket trade after it warned that fourth-quarter revenue will be hurt by slowing demand, while United States Steel Corp <X.N> tumbled after posting a loss and warning of a fourth-quarter deficit due to the uncertain economy in North America and Europe. Texas Instruments slipped 1.5 percent to $28.55, while U.S. Steel slumped 5.8 percent to $39.80. Equities continued to take their cue from the U.S. dollar, which steadied with investors wary of pushing it lower. The dollar index <.DXY> was up 0.6 percent. Stocks and the greenback have formed an inverse relationship, exacerbated by expectations the Federal Reserve will embark on another round of economic stimulus. Rick Meckler, president of investment firm LibertyView Capital Management in New York, noted the dollar-equities relationship could start to unravel if...

By Jessica Mortimer LONDON, Oct 26 (Reuters) - The dollar gained against the yen, holding above its 1995 record low on Tuesday following reminders from Japanese officials about the possibility of more steps to curb yen strength. The U.S. currency steadied against other currencies, with the euro stuck below $1.40 as market participants pondered how much monetary easing the Federal Reserve would opt for and how much may be priced in to an already weak U.S. currency. Helping steady the dollar were comments by New York Fed President William Dudley overnight, who said the economic context would determine whether an incremental or big bang approach to asset purchases was better. The market was also wary about pushing the dollar lower versus the yen due to worries about possible intervention after Japanese Finance Minister Yoshihiko Noda said Japan would take decisive steps on forex when needed.  At 0746 GMT, the dollar was up 0.5 percent at 81.15 yen JPY= , with traders citing talk of Japanese investors...