Author Archive

• USDJPY continues to have ceiling resistance at 90.90. Look for 90.20 support today
  gregmikefx, February 2nd, 2010 at 9:01 am, Comments: 0

  The USDJPY just could not break through the 90.90 level overnight and the failure has led to some selling pressure. The price has now dipped below the 90.55 level which has been another key technical level over the last few weeks (see chart above) and looks next to test key support at the 90.20 area.  [...]

• EURUSD tests the 100 hour MA and finding some profit taking sellers
  gregmikefx, February 2nd, 2010 at 7:41 am, Comments: 0

  The EURUSD is testing the 100 hour MA as NY enters for the day. The level comes in at the 1.3954 level. 
  The pair has risen off the low that tested the old channel trendline (see chart below) at the 1.3883 level. The grind highertoday  is now finding the profit taking sellers now at the key [...]

• GBPUSD tests 200 day MA (and other resistance) and comes off
  gregmikefx, January 25th, 2010 at 8:11 am, Comments: 0

  Overnight the GBPUSD tested the 200 day MA at the 1.6175 level today (high 1.6173).   This is a key level to hold and will continue to be watched to gauge the overall bearish bias for the GBPUSD.  The market will remained biased to the bearish side as long as rallies against this key level are held.
  The [...]

• $EURUSD pushes back above the 100 hour MA today
  gregmikefx, January 25th, 2010 at 7:49 am, Comments: 0

  The EURUSD pushed above the 100 hour MA today, continuing the correction started last Thursday. The price moved above the level for the 1st time since January 15th at the 1.4161 level and this pushed the price up to the high for the day at the 1.4193 level.  The topside has resistance next at the [...]

• GBPUSD falls in early NY trade after corrective move earlier. Yesterdays low tested
  gregmikefx, January 22nd, 2010 at 7:48 am, Comments: 0

  The GBPUSD corrected to the 200 and 100 hour moving average area in the 1st half of the new trading day today, and that gave the sellers the opportunity to reenter and sell the market again( green and blue line in the chart above).   The price is now down testing the low from yesterday at 1.6124.  [...]

• The EURUSD is correcting early NY trade
  gregmikefx, January 21st, 2010 at 8:04 am, Comments: 0

  The EURUSD has moved up sharply in early NY trade after selling off to the lowest level since July 2009 in the London trade. That move lower reached a target of 1.4045 and actually moved through that level to a low of 1.4029 in the London session.  As NY entered, however, the price has rebounded back [...]

• EURUSD tests the 38.2% retracement of 2009 Low to high range
  gregmikefx, January 20th, 2010 at 7:58 am, Comments: 0

  The EURUSD is down testing the 38.2% retracement of the 2009 low to high range this morning at the 1.4117 level after another down day for the EURUSD.
  The pair has been hit on the back of Greek worries (Straus Kahn of the IMF was on the wires talking about the seriousness of the problem. Greece [...]

• GBPUSDs big reversal. Back down testing 100 day moving average at 1.6310 and other support
  gregmikefx, January 19th, 2010 at 7:57 am, Comments: 0

  The GBPUSD moved higher earlier today on Kraft/Cadbury merger agreement and the much higher than expected CPI. However, the market started to reverse and the sharp fall has taken the pair back toward the support at the 100 day MA which is currently at the 1.6310 (see chart above).

  There is also a trendline support line which [...]

• EURUSD tests 200 day moving average at 1.4281. Key level.
  gregmikefx, January 19th, 2010 at 7:34 am, Comments: 0

  The EURUSD has been hit hard today on the back of the worse than expected ZEW data out of Germany and the EUROZONE. The move has taken the pair down to test the 200 day moving average at the 1.4281 level. 
  Look for some profit taking support against the key level, but on a break the [...]

• USDCHF tests 100 day MA resistance and 38.2% retracement at 1.0267 and 1.0272.
  gregmikefx, January 15th, 2010 at 8:19 am, Comments: 0

  Like the GBPUSD and the USDJPY, the USDCHF is near/testing the 100 day MA today at the 1.0269 level (blue line in the chart above).  The high extended above the key level to a high of 1.0284, but the price has since fallen back below.  Also of note is the 1.0272 level which is the [...]