GBP/USD technical analysis today 31.03.2010:

Current price around 1.5160 area. Downtrend movement would probably be seen later on today towards the 1.5100 area. The technical indicators signal for short positions.

EUR/USD technical analysis today 31.03.2010:

The pair remains in downtrend movement at the moment. Current price around 1.3460. Another fall towards the 1.3350 area could be seen later on today. On the other scenario the pair may reach the area around 1.3500 area but most likely first will see some downtrend movement towards the 1.3350-1.3380 area.

UK Nationwide HPI m/m will be released today:

This is the UK's second earliest report on housing inflation. The forecast is 0.2% and the actual report number must be higher than the forecast to be considered in favor of the British currency on the market. The report will be released today at 7:00 a.m. GMT.

EUR/USD technical analysis today 30.03.2010:

The currency pair has been trading sideways over the night between the range of 1.3465-1.3490. Another fall towards the 1.3400 area could be seen in a couple of hours. At the moment the pair is trading is a bit bullish which will probably stop at the resistance which is located at 1.3495. There are no major events on the today's calender and sideways movement could also be seen during the sessions today.

GBP/USD technical analysis today 29.03.2010:

Current price around 1.4920. According to the stochastic indicator (5,3,3) we may expect another fall towards the 1.4880 area in the next 4 hours. The technical indicators give signals for short positions.

Current trend: SELL

EUR/USD technical analysis today 29.03.2010:

According to the technical analysis based on the 4 hour chart the currency pair broke above the trend line. Sideways movement could be seen during today's sessions on the market. A rise towards the 1.3500 area could be seen in a couple of days but on the other hand another fall towards the 1.3300 area could also be seen on the market.

Current trend: NEUTRAL

GBP/USD update:

U.S. dollar rose after the U.S. economy data and the expectations for the next hours are aimed at keeping pressure from the green and go at a price of 1.4785. A break below the last price will signal for a significant new growth of the pound.

Forex Signal: EUR/USD - sell:

Current price 1.3374

Trend: SELL

Target: 1.3340

Close position if eur/usd breaks above 1.3395
---updated---
Position closed @ 1.3364 (profit of 10 pips)

GBP/USD technical analysis today 26.03.2010:

The current price of the pair is around the 1.4820 area. On the 4 hour chart indicators signal for slightly bullish movement around the 1.4850-1.4860 area. Overall, technical indicators signal for bearish movements.

Current trend: BUY

EUR/USD technical analysis today 26.03.2010:

The currency pair's current price 1.3360 area. Another downtrend movement could be seen in the next couple of hours around the area of 1.3300 zone. Main resistance is now located at 1.3440 and the main support is located 1.3290.

Current trend: BUY

U.K. Retail Sales Jumped 2.1% in February:

U.K. retail sales rebounded more than economists forecast in February with the biggest jump since May 2008. Sales rose 2.1 percent from January. This should be considered as a positive movement for the British currency on the market.

US Unemployment Claims will be releasd today:

This is the nation's earliest economic data. The actual report number must be lower than the forecast which is 452K to be considered positive for the American currency. The report will be released today at 12:30 p.m. GMT.

UK Retail Sales m/m will be released today:

It's the primary gauge of consumer spending. The forecast is 0.8% and the actual number must be higher than the forecast to be considered positive for the British currency. The report will be released today at 9:30 a.m. GMT.

GBP/USD technical analysis today 25.03.2010:

The pair continues its downtrend movement. Current price 1.4920. Further decline is still possible to around the 1.4800 area later on today. A break below the 1.4700 area could trigger the currency pair to further fall towards 1.4650 area.

Current trend: SELL

EUR/USD technical analysis today 25.03.2010:

The currency pair is trading around the 1.3200 area. Further drop looks possible to around the 1.3100 area. Technical indicators signal for taking short downtrend positions.

Current trend: SELL

EUR/USD technical analysis today 24.03.2010:

The pair remains in downtrend position. If the currency pair breaks below the 1.3400 area we may see further fall towards the 1.3300 area. On the other hand if the pair breaks above the 1.3650 area the uptrend could continue up to 1.3700 area.

Current trend: Mixed signals

EUR/USD update:

The pair is now trading at 1.3500. Another short rise could be seen over night around the 1.3550 area. The main support is located at 1.3450 and the main resistance is at 1.3560 at the moment.

US Existing Home Sales report will be released today:

The US Existing Home Sales report will be released today at 2:00 p.m. GMT. The forecast is 5.01M and we should see higher number than this in order to see some strong support of the US dollar on the market.

GBP/USD technical analysis today 23.03.2010:

Current price 1.5053. Further decline to the 1.5200 area could be seen later on today. The main support is now located at 1.4760 area.

Current trend: SELL

EUR/USD technical analysis today 23.03.2010:

The pair has been trading sideways over night. The main resistance is located at 1.3600. A break above this level could trigger the pair back to the 1.4000 area. On the other hand it looks like the pair may continue its downtrend movement to the 1.3400 area.

Current trend: SELL

EUR/USD update:

Current price 1.3559 and short targets could be 1.3580-1.3590 in the next a couple of hours. The technical indicators signal for shorts.

Current trend: BUY

EUR/USD technical analysis today 22.03.2010:

The currency pair may try to test level around the 1.3350 area. Currently EUR/USD remains in downtrend movement. If the pair breaks below 1.3400 area next target could be the 1.3300 area.

EUR/USD ends week below 1.3550, first time in 10-months :

EUR/USD failed to consolidate above 1.3800 and weakened erasing early gains and finished the week with an important decline. The pair had the first weekly close below 1.3550 in ten months. It looks like we may have another week of mixed signals or on the other hand we may expect another week of rally between the European currency vs. US dollar.

GBP/USD technical analysis today 19.03.2010:

Current price 1.5247. In the next hours we may expect the pair to go down around the 1.5150 area. On the 4 hour chart and the daily chart the uptrend seems to be negative for the British currency.

EUR/USD technical analysis today 19.03.2010:

Current price 1.3620. The main resistance is now located at 1.3680. A break above this level could trigger the currency pair around the 1.3900 area. On the other hand we may see another fall towards the 1.3400 area.

Current trend index - SELL

EUR/USD in uptrend movement:

The current price is 1.3682. Based on the 4 hour chart it looks like the pair may rise up to 1.3720-1.3740 area.

Comment:
Signal not valid anymore!

US Unemployment Claims will be released today:

This is the nation's earliest economic data. The market impact fluctuates from week to week. The forecast 456K and the actual report number must be lower than the forecast in order to be positive for the US currency. The report will be released today at 12:30 a.m. GMT.

EUR/USD technical analysis today 18.03.2010:

The currency pair remains in downtrend position. We may see further fall to 1.3650 area. Trading above this level could trigger the pair back to levels around 1.3700-1.3750 area.

Current trend: SELL

UK Claimant Count Change will be released today:

The UK Claimant Count Change report will be released today at 9:30 a.m. GMT. The report is generally viewed as a lagging indicator. It would be good for the GBP if the actual report number is lower than the forecast which is 8.2K

GBP/USD technical analysis today 17.03.2010:

The currency pair remains in uptrend position. Another rise towards the 1.5300-1.5350 area could be seen in a couple of hours. If the pair breaks below the 1.4900 area than it may downtrend towards the 1.4850-1.4800 zone.

Current trend: BUY

EUR/USD technical analysis today 17.03.2010:

It looks like the pair is trading above the main resistance of 1.3750 and it may rise up to the 1.3900 area later on today. If the pair drops below the 1.3700 zone then we may see another fall towards the 1.3600 area.

Current trend: BUY

EUR/USD update:

The pair is being traded slightly in favor of the euro. The major resistance is still located at 1.3850. Only a break above this level could trigger the pair back to the 1.3900 area.

German ZEW Economic Sentiment will be released today:

It's a leading indicator of economic health, the forecast is 43.5. On the previous release the forecast was 42.5 and the actual report was higher 45.1 which was positive for the European currency. The report will be released today at 10:00 a.m. GMT.

GBP/USD technical analysis today 16.03.2010:

Negative impact on sterling continued to have speculation that the country's budget deficit may reach such a state as that of Greece. Further rally towards 1.5100 area could be seen later on today. At the moment it looks like the pair will be heading down to 1.4900 area. The technical indicators signal for mixed signals.

EUR/USD technical analysis today 16.03.2010:

The single currency climbed against the dollar during the Asian trading session.The main resistance is now located at 1.3750. Currently another fall could be seen towards the 1.3600 area. If the pair breaks above the resistance of 1.3750 we may expect the rise to continue up to about 1.3900-1.3950 area.

EUR/USD evening update:

The US dollar kept its gains against the euro after the start of the American stock exchange. We are expecting a new appreciation of the dollar and a possible test in the zone of the diagonal support around 1.3620. At the moment it looks like the trend is "choppy". Another fall towards 1.3560 area could be seen in a couple of hours.

GBP slips vs. dollar on sovereign debt fears:

The pound slipped against the U.S. dollar on Monday, ending a 2-day rally on sovereign debt fears after Moody's warned that Britain had moved "substantially" closer to losing its AAA credit rating. read more

EUR/USD technical analysis today 15.03.2010:

The currency pair remains in uptrend position. Current price 1.3735. Next target seems to be the 1.3800 zone in a couple of hours. The major resistance is now located at 1.3850 area.

DailyFX Course Free Forex Seminars:

Monday: 

Getting Started in Forex

3:00 pm EDT (19:00 GMT) and 9:00 pm EDT (01:00 GMT)

An introductory seminar that teaches you common methods for beginners to start trading forex, presented in real time. Personal consultations are available upon request.

Current market themes. Educational opportunities. Transitioning from demo to live trading.

More info CLICK HERE

Forex Trading Tips - Hammers and Hanging man:

Recognition: The lower shadow (or tail) should be at least two times the length of the body. The color of the body is not important although a black body has slightly more Bearish indications and a white body has slightly more Bullish indications.

Pattern Psychology: This pattern at the bottom of a down trend is called a Hammer. This pattern at the top of an uptrend is called a Hanging-Man.

US Retail Sales m/m will be released today:

The previous report on Fe 12, 2010 rose up to 0.5% which was more than the forecast 0.4%. This time the forecast -0.1% and the final report number must be higher than the forecast in order to see some positive movements of the US dollar against other major currencies on the market. The report will be released today at 1:30 p.m. GMT.

EUR/USD technical analysis today 12.03.2010:

It looks like the currency pair may try to test again levels around 1.3700 in the next a couple of hours. The main support is located around 1.3580. As long as this level holds another rise towards the 1.3800 zone could be seen. The technical indicators give signals for taking short positions.

Current trend: BUY

US Trade Balance will be released today:

The report is about the difference in value between imported and exported goods and services during the reported month. The forecast is - 40.9B. The actual report number must be higher than the forecast in order to see some strong movements in favor of the US currency. The report will be released today at 1:30 p.m. GMT.

USD/JPY technical analysis today 11/03/2010:

USD/JPY remains in downtrend position. Another fall towards the 89.50 zone could be seen in a couple of hours. The technical indicators signal for short positions.

Current trend: SELL

EUR/USD technical analysis today 1/03/2010:

The pair remains in downtrend position. Another rise could be seen at some point today towards the 1.3800 zone. Otherwise, a fall below 1.3500 zone could indicate further downtrend movement towards the 1.3400 area. Looks like the major sell zone at the present moment is located around 1.3600 zone. It is good for taking short positions.

Current trend: SELL

UK Manufacturing Production m/m - negative:

The report was released minutes ago. The actual report number is -0.9% which is considered negative for the British currency. GBP/USD at the moment is trading at 1.4905 and the report would probably take the price down to the 1.4850 zone in a couple of hours.

British Manufacturing Production m/m will be released today:

It's a leading indicator of economic health. It could trigger the British currency in either way on the market depending on the actual report number. The forecast is 0.3% and there must be higher number than this in order to see some positive movement of the GBP. The report will be released today at 9:30 a.m. GMT.

GBP/USD technical analysis today 10/03/2010:

British pound lost positions against the U.S. dollar for the second day. The pair remains in downtrend position. Deeper decline towards 1.4784 is expected later today, a breakdown this level could trigger another fall towards 1.4500 area.

EUR/USD technical analysis today 10/03/2010:

EURUSD traded in a narrow range between 1.3530 and 1.3735 for a couple of days. Downward trend remains valid and only a rise over 1.3850 will submit an indication of possible change in the direction of movement. The technical indicators signals for taking short positions.

EUR/USD technical analysis today 09/03/2010:

I expect the price to continue downward with an initial target at 1.3550 support, а descent below it will open the way to the next key level at 1.3440-1.3450. The resistance is still located at 1.3750. Only if the pair goes above that level we may see another strong rise up to the 1.3950 zone.

S:   1.3569    1.3584    1.3594
R:   1.3619    1.3634    1.3644     

Current trend: SELL

GBP/USD technical analysis today 08/03/2010:

The British pound registred a small rise against the dollar after the start of the European stock exchange session. We are expecting a possible test in the zone around 1.5270 - 1.5290, followed by a downward movement with a possible target around 1.5070 - 1.5090.

EUR/USD update:

The common European currency gave away its gains against the dollar since the beginning of the European stock market session and before the announcement of the Sentix investor confidence index for the eurozone. The downtrend movement is still possible to levels around 1.3450 zone.

Current trend: SELL

The Swiss Retail Sales y/y will be released today:

It's the primary gauge of consumer spending. The forecast is 2.4% and the final report number must be higher than the forecast to be in favor for the CHF. The report will be released today at 8:15 a.m. GMT.

EUR/USD technical analysis today 08/03/2010:

It looks like the currency pair is in uptrend position. Another rise towards the 1.3700 zone seems possible later on today. The resistance is located at 1.3700-1.3750. As long as this level holds we may expect another fall towards the 1.3450 zone.

R:   1.3655    1.3661    1.3669
S:   1.3683    1.3689    1.3697

Current trend: BUY

BULLISH ENGULFING Recognition:

The body of the second day completely engulfs the body of the first day. Shadows are not a consideration.
Pattern Psychology: This pattern suggests the Bulls are stepping in with force, suggesting prices will move up.

US Uneployment report - positive:

The report was released minutes ago. The actual report number is 9.7% better than the expected 9.6% and this will most likely trigger the US dollar in positive direction against other major currencies on the market.

Current trend EUR/USD - STRONG SELL

Resistance at 1.3510

US Unemployment rate report today:

Job losses in the U.S. probably accelerated in February as severe weather forced some employers to temporarily close, economists said before a report today. The report will be release today at 1:30 p.m. GMT. This could be negative news for the US currency.

UK PPI Input m/m will be released today:

The report will be announced at 9:30 a.m. GMT. It's a leading indicator of consumer inflation. The forecast is 0.1% and we should see higher number that this to be in favor of the British currency. On the previous report on Feb 5, 2010 the forecast was 0.7% and the actual report number was 2.0% which was positive for the GBP.

EUR/USD technical analysis today 05/03/2010:

Downtrend movement is still in favor for the currency pair. The resistance is located at 1.3780. As long as the pair remains below that level the downtrend movement towards the 1.3350 zone will probably continue. The technical indicators brought signals for taking short positions.
    
S:   1.3559    1.3565    1.3578
R:  1.3597    1.3603    1.3616
Current trend: SELL

UK Halifax HPI m/m to be released today:

The forecast is 0.3% and we should see higher number than this in order to see some positive movement for the GBP on the forex market. On the previous edition  on feb 4, 2010 the report was negative for the British currency. It's a leading indicator of the housing industry. The report will be released at 9 a.m. GMT.

GBP/USD technical analysis today 04/03/2010:

The currency pair remains in downtrend movement. Another fall towards the 1.4900 zone seems possible later on today. The technical indicators give signals for shorts.

R: 1.4992    1.5015    1.5030
S:  1.5068    1.5091    1.5106

Current trend: SELL

EUR/USD technical analysis today 04/03/2010:

The currency pair rose up to 1.3700 zone. It looks possible that another rise towards 1.3800 zone could be seen later on today. Keep in mind that the resistance is now located at 1.3700 zone and only a rise above that price would signal further rise towards the 1.3800 zone. Overall, the technical indicators brought mixed signals.

S:   1.3601    1.3624    1.3638 
R:  1.3675    1.3698    1.3712 

Current trend: SELL  

UK services PMI jumps more than expected:

LONDON (MarketWatch) -- Activity in Britain's dominant services sector expanded at a stronger-than-expected pace in February, according to purchasing managers. The CIPS/Markit purchasing managers index rose to 58.4 for the month, up from 54.5 in January and topping forecasts for a more modest increase to 55.5. A reading of more than 50 means a majority of managers saw a rise in activity, while a figure of less than 50 signals contraction. The services sector accounts for more than 75% of British economic activity. The British pound rebounded after the data to trade at $1.5049 versus the dollar up 0.6% on the day.

www.marketwatch.com

UK Services PMI will be released today:

The expectation is 55.0 and we should see a higher number than this in order to look for some positive movement in favor of the British currency. It's a leading indicator of economic health. The report will be released at 9:30 a.m. GMT.

EUR/USD technical analysis today 03/03/2010:

Currently the pair is in uptrend position. The downtrend movement is still in favor. There's a possibility for another rally up to the 1.3700 zone later on today. On the other scenario the pair is still considered in consolidation and another fall towards the 1.3400 zone is still valid.

Support:         1.3596    1.3608    1.3618
Resistance:   1.3640    1.3652    1.3662

Current trend: SELL

EUR/USD update:

The European currency may recover against the US dollar depending on the situation in Greece. At the present time it looks like the pair is in uptrend movement and the technical indicators are showing mixed signals. The downtrend movement may continue later on today. We may expect the rise for the EURO to continue if the pair goes above the 1.3650 zone.

GBP/USD technical analysis today 02/03/2010:

The GBP remains in downtrend position against the US dollar. We expect in the coming hours maintaining of the downward movement with targets around support around 1.4800. Break below it will signal levels around 1.4360.

Support:         1.4790    1.4821    1.4859
Resistance:   1.4928    1.4959    1.4997

Current trend: SELL    

EUR/USD technical analysis today 02/03/2010:

The currency pair is trading between 1.3450-1.3650. It looks like another fall towards 1.3350 zone could be possible later on today. The current price is 1.3504. The technical indicators are good for taking short positions.

Support:        1.3473    1.3488    1.3508
Resistance:   1.3543    1.3558    1.3578

Current trend: SELL

EU Unemployment Rate - positive:

Eurozone unemployment fell to 9.9% in the expected increase of 0.1%, signaling for strengthening of the economic recovery.

GBP/USD technical analysis today 01/03/2010:

The pair remains in downtrend position. Deeper decline is still in favor later today and next target would be at 1.5000 zone.

Support:        1.5071    1.5086    1.5110
Resistance:   1.5149    1.5164    1.5188      

Current trend: SELL

British Manufacturing PMI will be released today:

The forecast is 56.3. Ont eh previous report on Feb 1, 2010 the actual report was 56.7 which was above the expectations and it was positive for the British currency. The report will be released today at 9:30 a.m. GMT.

EUR/USD technical analysis today 01/03/2010:

The resistance of the pair is located at 1.3650. If the pair goes above the this level we may expect the rise to continue. Otherwise, it looks like the pair is in downtrend position at the present time and possible fall to 1.3400 zone may be possible later on today.

Support:       1.3557    1.3572    1.3597
Resistance:  1.3637    1.3652    1.3677  

Current trend: SELL