GBP/USD technical analysis today 12/02/2010:

It looks like the pair remains in downtrend position. Current price 1.5720. We may seen further fall towards 1.5600 zone if the currency pair breaks below 1.5650. No major events on the forex calender for the GBP today.

Support:          1.5620    1.5645    1.5674
Resistance:    1.5728    1.5753    1.5782     

Current trend: BUY

EUR/USD technical analysis today 12/02/2010:

The pair has been trading between 1.3600-1.3700 over night. Current price 1.3647. If the pair breaks below 1.3560 I'd expect further decline to continue down to 1.3500.

Support:         1.3636    1.3646    1.3659

Resistance:   1.3682

1.3692

1.3705

Current trend: SELL

Unemployment Claims in U.S. Decline More Than Forecast:

The report was released more than an hour ago and it looks positive since the actual number is 440K which is lower than the expectation of 460K. Currently the currency pair EUR/USD is in downtrend position. Possible levels of 1.3655 could be seen in a few hours. I'd recommend strong sell at the moment. I will sell at 1.3650 and will expect downtrend to continue. The pair will probably test the zone of 1.3620-1.3630.

Comment: Position sold at 1.3608 (profit of 42 pips)

US Unemployment Claims will be released today:

The US Unemployment Claims report will be released today at 1:30 p.m. GMT. The US economy may strengthen soon and we may expect positive news after the report. The forecast is 460K and if the actual report number is lower than the forecast we may expect some strong movements in favor of the US dollar on the forex market.

GBP/USD technical analysis today 11/02/2010:

Current price around 1.5620. Another fall towards 1.5500 zone could be seen later on today. There are no major events for the British pound on the forex calender for today and sideways movement could also be seen on the market during the day.

Support:       1.5593

1.5611

1.5625

Resistance:   1.5657    1.5675    1.5689   

EUR/USD technical analysis today 11/02/2010:

The currency pair has pulled back from 1.3650 zone and at the present time the pair has been trading between 1.3700-1.3780. EUR/USD is in consolidation and it looks possible for another fall later on today towards 1.3650-1.3630.

Support:       1.3743    1.3758    1.3771
Resistance:   1.3799    1.3814    1.3827

US Trade Balance - negative:

The US Trade Balance report was released minutes ago. The actual report number was -40.2B which is lower than the forecast which was -35.8B. Now at the market EUR/USD is in downtrend position. We may see a rise towards 1.3780 later on today.

Current trend: SELL

French Industrial Production m/m negative:

The report was released minutes ago. The forecast was 0.6% but the actual report is 0.1% which is below the expectations and now it may have a medium negative impact over the European currency on the forex market.

GBP/USD technical analysis today 10/02/2010:

Current price of the pair 1.5675 and another fall could be seen towards 1.5500-1.5500 zone. The pair still shows a lot of sideways movements.

Hourly support and resistance levels:

S:   1.5603    1.5631    1.5651
R:   1.5603    1.5631    1.5651

Current trend: SELL

EUR/USD technical analysis today 10/02/2010:

The currency pair still remains in downtrend position. Current price 1.3773. I will expect another fall towards 1.3600 later on today. On the other scenario if the currency pair breaks above 1.3900, I would expect another rise above 1.4050 zone.

Hourly support and resistance levels:

S:   1.3666    1.3700    1.3723
R:   1.3780    1.3814    1.3837

Current trend: BUY

GBP trade balance negative:

The actual report number is -7.3B which is lower than the forecast number -6.6B. Downtrend movement for the GBP against the USD looks possible on the one hour chart.

British trade balance will be released today:

The difference in value between imported and exported goods during the reported month will be released today at 9:30 a.m. GMT. The forecast is -6.6B. We need to see higher number than the forecast in order to expect some positive movements in favor of the GBP on the forex market. 

* medium impact on market

GBP/USD technical analysis today 09/02/2010:

Current price of the pair 1.5630. We may see sideways movements during the European session. GBP/USD will probably continue its downtrend movement towards 1.5500-1.5450 zone.

Hourly support and resistance levels:

S:   1.5577    1.5590    1.5615
R:   1.5653    1.5666    1.5691

Current trend: Neutral

EUR/USD technical analysis today 09/02/2010:

The currency pair has bounced from the falling price around 1.3500 and now it is trading around 1.3650-1.3700. We may see the rise to continue up to 1.3750-1.3780 later on today. On the other hand we may see another drop towards 1.3500 zone is still possible after consolidation.

Hourly based Support and Resistance levels:

S:   1.3668    1.3680    1.3702
R:   1.3736    1.3748    1.3770

Current trend: BUY

Swiss Retail Sales y/y will be released today:

The Swiss retail sales will be released today at 8:15 a.m. GMT. There will action in USD/CHF around this release.

EUR/USD technical analysis today 08.02.2010:

The  pair continues its downtrend movement. On the 4-hour and the one day chart and looks like the currency pair may continue to a deeper decline.

support:      1.3606    1.3623    1.3633
resistance:   1.3660    1.3677    1.3687