Yesterday comments:
GU did a unexpected up all the way to 1.466, before down 200 pips within 1 hour from 2000hrs SGT, when UK finance minster was giving his speech at 1930hrs.
Fundamental:
After the last minute DOW sell off and coupled with the bads UK sentiments after Darling speech, I expect the FTSE to loose ground.
There will be a list of news for Europe from 1500hrs to 1700hrs, followed by US Exisiting home sales at 2200hrs.
Technicals:
Trend: No clear indication as looking at the daily chart WMA5 hovers between EMA200 and EMA55. If it goes through, support will be at 1.43. But if it rebound, resistance will be at 1.465.
CCI also show no direction. It has the potential to go down further or it may reverse.
Thursday, April 23, 2009
Wednesday, April 22, 2009
Yesterday comments:
Instead of a down, GU did a surprise up. It broke the resistance at 1.458 and head straight to 1.47. US market did not take a beating as on Monday, after Treasury Secretary Timothy Geithner convinced Wall Street to give banks another chance Tuesday.
Fundamental:
Wednesday morning could prove to be another tumultuous time for the British pound, as two key UK releases will both hit the wires at 16:30 SGT. With job losses accelerating, the UK's recession is unlikely to bottom out anytime soon and thus, disappointing results could lead to a sharp GBP/USD pullback. On the other hand, better-than-anticipated figures could provide a boost to the currency.
Technicals:
CCI is consolidating. It has reversed after yesterday sprang up. It still has steam to down to come to a oversold position of more than -100. Now is hovers at -10.
Trend: flat
Support at 1.452 and resistance at 1.475.
Instead of a down, GU did a surprise up. It broke the resistance at 1.458 and head straight to 1.47. US market did not take a beating as on Monday, after Treasury Secretary Timothy Geithner convinced Wall Street to give banks another chance Tuesday.
Fundamental:
Wednesday morning could prove to be another tumultuous time for the British pound, as two key UK releases will both hit the wires at 16:30 SGT. With job losses accelerating, the UK's recession is unlikely to bottom out anytime soon and thus, disappointing results could lead to a sharp GBP/USD pullback. On the other hand, better-than-anticipated figures could provide a boost to the currency.
Technicals:
CCI is consolidating. It has reversed after yesterday sprang up. It still has steam to down to come to a oversold position of more than -100. Now is hovers at -10.
Trend: flat
Support at 1.452 and resistance at 1.475.
Tuesday, April 21, 2009
21 Apr 2009
Fundamental:
CPI will be the major news at SGT1630hrs. If CPI continue to be below the expected 2.9%, GU will go down.
DOW gave up gains yesterday, Nikkei this morning. FTSE may follows. Like the previous, the fear come from the results of the coming bandk stress test and may point to another round of selling. Of course, when traslated to GU, people will flock to USD, pushing the GU down.
Technicals:
CCI is still on a down trend. Probability of it going down is there as compare for it to reverse. It nows hovers around -10 and can hit -100 before any sign of reversal.
Support is at 1.430 and resistance is at 1.470.
CPI will be the major news at SGT1630hrs. If CPI continue to be below the expected 2.9%, GU will go down.
DOW gave up gains yesterday, Nikkei this morning. FTSE may follows. Like the previous, the fear come from the results of the coming bandk stress test and may point to another round of selling. Of course, when traslated to GU, people will flock to USD, pushing the GU down.
Technicals:
CCI is still on a down trend. Probability of it going down is there as compare for it to reverse. It nows hovers around -10 and can hit -100 before any sign of reversal.
Support is at 1.430 and resistance is at 1.470.
Monday, April 20, 2009
GU
Fundamental:
There are not many key news today.
But over the last week, UK housing showed sign of improvement. Together with ECB intending to cut rates. All pointing to signs and actions of a road to recovery in Europe.
Goods news by bank in US coupled with better earning reports has pushed DOW up. It may be time for some selling before market deceide its direction
Technicals:
CCI(34) on a down trend.
It has hit its first support at 1.47 in the morning trading. Next support is at 1.465 then 1.456
Resistance at 1.480, then 1.490
Fundamental:
There are not many key news today.
But over the last week, UK housing showed sign of improvement. Together with ECB intending to cut rates. All pointing to signs and actions of a road to recovery in Europe.
Goods news by bank in US coupled with better earning reports has pushed DOW up. It may be time for some selling before market deceide its direction
Technicals:
CCI(34) on a down trend.
It has hit its first support at 1.47 in the morning trading. Next support is at 1.465 then 1.456
Resistance at 1.480, then 1.490
Friday, April 17, 2009
17 Apr 2009
Yesterday comments:
Instead of a up candle, it is a down. But support was at 1.484 as predicted at 1.485. GU swinged back but still close down at 1.492 in the morning, down from its opeing at 1.502.
GU make a down after opening yesterday and it was only until the US trading time before it swing back.
Fundamental:
There are no major US news. UoM Confidence is at SGT 2030 which is a Financial confidence, a leading indicator of consumer spending, which accounts for a majority of overall economic activity.
ECB Trichet will speak at SGT 1100. This will determine the cut in interest rate, but most likely not, and the impact may not be great.
Dow up another 100 points, overriding the housing bad news. This also show sign of US on the road to recovery. Of course, yesterday gave better unemployment claims data and with JP Morgan showcasing profits.
Technicals:
GU may attempt 1.50. The trend however pointed lower using the CCI34.
Support is found at 1.482 and first resistance is at 1.506
There is a squeeze between 1.487 and 1.495, before it decide going towards the support or the resistance.
My opinion:
Trend: down
Trade within squeeze band and let go when out of band, before trading at reversal at resistance or support line.
Instead of a up candle, it is a down. But support was at 1.484 as predicted at 1.485. GU swinged back but still close down at 1.492 in the morning, down from its opeing at 1.502.
GU make a down after opening yesterday and it was only until the US trading time before it swing back.
Fundamental:
There are no major US news. UoM Confidence is at SGT 2030 which is a Financial confidence, a leading indicator of consumer spending, which accounts for a majority of overall economic activity.
ECB Trichet will speak at SGT 1100. This will determine the cut in interest rate, but most likely not, and the impact may not be great.
Dow up another 100 points, overriding the housing bad news. This also show sign of US on the road to recovery. Of course, yesterday gave better unemployment claims data and with JP Morgan showcasing profits.
Technicals:
GU may attempt 1.50. The trend however pointed lower using the CCI34.
Support is found at 1.482 and first resistance is at 1.506
There is a squeeze between 1.487 and 1.495, before it decide going towards the support or the resistance.
My opinion:
Trend: down
Trade within squeeze band and let go when out of band, before trading at reversal at resistance or support line.
Thursday, April 16, 2009
16 Apr 2009
GU.
Fundamental:
Dow was up a 100 points last night. The Fed said there are signs of bottoming. The market has been running up some 25%.
Tonight with "Housing starts" and "unemployment claims" at SGT 2030hrs, it will show whether a confimation of the health of the economy. This will determine whether GU will climb higher or again do some consolidation.
Europe on the other side is battered with bad news from UBS as compare to the relative good news from the US major banks. This give GU some injection for weakening.
Oil on the other side has ended below 50, against a recent high of 55. This show some of consolidation.
Technical:
Looking at the daily CCI, GU is still on a up trend, but showed sign of tappering side way or reverse. It managed to punch through 1.5 and should be heading towards 1.53 (EMA200)
Resistance is at 1.53
Support: 1.485
My Opinion:
Trend: up, unless the major news reverse it
Both fundamental and technical points to a consolidation, so watch out for the resistance and signs of reversal.
Fundamental:
Dow was up a 100 points last night. The Fed said there are signs of bottoming. The market has been running up some 25%.
Tonight with "Housing starts" and "unemployment claims" at SGT 2030hrs, it will show whether a confimation of the health of the economy. This will determine whether GU will climb higher or again do some consolidation.
Europe on the other side is battered with bad news from UBS as compare to the relative good news from the US major banks. This give GU some injection for weakening.
Oil on the other side has ended below 50, against a recent high of 55. This show some of consolidation.
Technical:
Looking at the daily CCI, GU is still on a up trend, but showed sign of tappering side way or reverse. It managed to punch through 1.5 and should be heading towards 1.53 (EMA200)
Resistance is at 1.53
Support: 1.485
My Opinion:
Trend: up, unless the major news reverse it
Both fundamental and technical points to a consolidation, so watch out for the resistance and signs of reversal.
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