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Australian Dollar Forex Trading Forecast

09 4th, 2008 by Arnaud Jeulin

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“Bounce” seen for Aussie in currency tradingThe Australian dollar forex trading forecast is looking rather positive right now. With down under currencies relatively low as compared to recent performances, many investors are hoping to get in now.

Indeed, because the Aussie is a high yielder in currency trading, some investors are hoping that they can get a good deal now, and make more money later.

Bloomberg reports on the Australian dollar forex trading forecast:

“The Australian dollar can bounce a little bit because it is sort of finding some support levels,” said Richard Grace, chief currency strategist at the Commonwealth Bank of Australia in Sydney. The trade figure “provided a bit of a headwind to the Australian dollar’s appreciation here in the short term,” he said.

EUR/USD - Euro Dollar, American Session - 04/09/08

09 4th, 2008 by Arnaud Jeulin

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1,4478. EUR USD is in an downtrend directed by 1H exponential moving averages. EUR USD is in a consolidation after the last bearish movement. The volatility is low. Bollinger bands are flat. ForexTrend daily (Mataf Trend Indicator) is in a bearish configuration. 4H ForexSto (Modified Stochastic) indicate a bullish pressure on EUR USD. The consolidation should continue. The price should continue to move in 1,4400 / 1,4600 range. We won’t take a position. The risk/reward ratio is too high to take a position..

Resistances: 1,4535 - 1,4600
Supports: 1,4450 - 1,4390

Source :

GBP/USD - British Pound Dollar, American Session - 04/09/08

09 4th, 2008 by Arnaud Jeulin

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1,7833. GBP USD is in an downtrend directed by 1H exponential moving averages. GBP USD is in a consolidation after the last bearish movement. The volatility is low. Bollinger bands are flat. ForexTrend 1H, daily (Mataf Trend Indicator) is in a bearish configuration. 4H ForexSto (Modified Stochastic) indicate a bullish pressure on GBP USD. The consolidation should continue. The price should continue to move in 1,7670 / 1,8000 range. We won’t take a position. The risk/reward ratio is too high to take a position..

Resistances: 1,7850 - 1,8000
Supports: 1,7750 - 1,7670

Source :

USD/CAD - US Dollar Canadian Dollar, American Session - 04/09/08

09 4th, 2008 by Arnaud Jeulin

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1,0590. USD CAD is in a consolidation after the last bearish movement. The volatility is low. Bollinger bands are flat. Oscillators are neutral. The price should continue to move in Bollinger bands. We won’t take a position.

Resistances: 1,0650 - 1,0770
Supports: 1,0550 - 1,0470

Source :

USD/CHF - Dollar Swiss Franc, American Session - 04/09/08

09 4th, 2008 by Arnaud Jeulin

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1,1063. USD CHF moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility is low. Bollinger bands are flat. ForexTrend 1H, 4H (Mataf Trend Indicator) is in a bullish configuration. The price should continue to move in Bollinger bands. We won’t take a position. The risk/reward ratio is too high to take a position..

Resistances: 1,1100 - 1,1170
Supports: 1,1020 - 1,0950

Source :

USD/JPY - Dollar Yen, American Session - 04/09/08

09 4th, 2008 by Arnaud Jeulin

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108,19. USD JPY is in a range between 107,60 and 109,10. USD JPY moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility is low. Bollinger bands are flat. ForexTrend 1H (Mataf Trend Indicator) is in a bearish configuration. The price should continue to move in 107,60 / 109,10 range. We won’t take a position.

Resistances: 108,50 - 109,10
Supports: 108,00 - 107,60

Source :

GBP/JPY - British Pound Yen, American Session - 04/09/08

09 4th, 2008 by Arnaud Jeulin

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192,75. GBP JPY is in an downtrend directed by 1H exponential moving averages. GBP JPY is in a consolidation after the last bearish movement. The volatility is low. Bollinger bands are flat. ForexTrend 4H, daily (Mataf Trend Indicator) is in a bearish configuration. The consolidation should continue. The price should continue to move in 191,50 / 195,00 range. We won’t take a position. The risk/reward ratio is too high to take a position..

Resistances: 193,60 - 195,00
Supports: 192,60 - 191,50

Source :

EUR/JPY - Euro Yen, American Session - 04/09/08

09 4th, 2008 by Arnaud Jeulin

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156,52. EUR JPY is in an downtrend directed by 1H exponential moving averages. EUR JPY is in a consolidation after the last bearish movement. The volatility is low. Bollinger bands are flat. ForexTrend 1H, 4H (Mataf Trend Indicator) is in a bearish configuration. The downtrend should continue on 152,00 support.
=> We could take a short position at 157,00. We will put the stop loss above 157,90 (-90 pips). The targets are 155,40 (+160 pips) 152,00 (+500 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.

Resistances: 157,10 - 157,60
Supports: 156,00 - 155,40

Source :

EUR/GBP - Euro British Pound, American Session - 04/09/08

09 4th, 2008 by Arnaud Jeulin

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0,8128. EUR GBP broke 0,8140 support. EUR GBP is in an uptrend supported by 1H exponential moving averages. EUR GBP is in a consolidation after the last bullish movement. The volatility rises. Bollinger bands are deviated. ForexTrend daily (Mataf Trend Indicator) is in a bullish configuration. 1H ForexSto (Modified Stochastic) indicate a bearish pressure on EUR GBP. The consolidation should continue. The price should continue to move in 0,8100 / 0,8190 range. If the support is broken then the target will be 0,8070. We won’t take a position. The risk/reward ratio is too high to take a position..

Resistances: 0,8140 - 0,8190
Supports: 0,8100 - 0,8070

Source :

Euro Continues to Struggle in Forex Trading

09 4th, 2008 by Arnaud Jeulin

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Euro down versus dollar and pound in currency tradingThe euro is struggling this morning in forex trading on the currency market, even though the ECB has left its interest rate unchanged, signaling that inflation is still a concern.

In remarks this morning, ECB president Jean-Claude Trichet confirmed that he is still focusing on inflation, although he also acknowledged that there is weakness in the eurozone economy.

The euro is expected to trade in range with the U.S. dollar in forex trading for a while, but ease further as the new year approaches.

Euro is also down against the U.K. pound in currency trading this morning.