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Forex daily market comments: Morning comments


Forex Morning daily comments are updated shortly after the open of London session. Approximate time: 9:00 - 9:30 am EST

Forex market outlook help traders to obtain a new fresh information on the Forex market trends and tendencies, price patterns, support/resistance levels, and thus trade more effectively throughout most busiest Forex trading sessions: London and New York.

Last updated: May 18, 2012, 9:01 am EDT

Currency Comments
EUR-USD1.2740 t-line res. & 55-day sma keeps selling preference to 1.2700 & eventual test of 1.2620-25 lows, trading above may see 1.2775
AUD-USDTrading in an approximate 0.9895-0.9965 range over the past 36 hour, a breakout of range boundaries may determine near term direction
GBP-USDSupport into 1.5800 barrier but trading below opens the door to 1.5765 & 1.5735 pivots, trading above may see 1.5885 21-day sma at least
USD-CADnegative price-MACD divergence may see s-t retracement to 1.0125 while trading below 1.0180 & 1.0050 range lows later, trading above may see 1.0230
NZD-USDFinding a base around 0.7550 after a bout of selling pressure. trading above may see to 0.7605 then 0.7645 - pivot point. trading below to 0.7525.
USD-CHF0.9410 support keeps buying preference to 0.9480 to 0.9505 ahead of 0.9555, trading below may see 0-9385 100-hr sma
EUR-GBPStill in reocvery mode after forming weakness in GBP. MMACD suggests s-t forming weakness. trading below 0.8050 may see to 0.8015 then to 0.7990. trading above to 80.80
USD-JPY79.20 0.618 fibo for BOJ inflation target move higher supporting & may see QE3 spec bounce back to 79.55 Oct. intervention highs first
GBP-JPYFound support at 125.00 after sharp sell off. trading above 125.35 - 21-hr sma resistance, may see to 125.50 ahead of 126.00, but preference lower trading below 128.80 - Ichimoku cloud base.
AUD-JPYFinding support at 77.50 after a sharp sell off o-night. trading above may see to 78.40 - 21-hr sma then to 79.10. trading below to 77.50 then 77.20 - late 2012 lows
EUR-JPYThe yen had a sharp move higher overnight. preference lower trading below 100.75 - 21-hr sma, support lies at 100.25 then 99.75 Feb lows.
CAD-JPYBounced off support at 77.50 after loooking oversold on hrly MACD. trading above 77.95 - 21-hr sma may see to 78.20 first - 200day sma and main resistance level, then towards 79.00 - Tenkan on cloud.


Disclaimer: Forex currency trading is a high risk investment. Use market comments at your own judgment and risk assuming full own responsibility for any direct or indirect trading cases that occur as a result of using current Forex market comments.