Forex Commentary: NZDUSD fakey update, AUDUSD inside bar 9-15-10

Posted on 16 September 2010

Settings of Trade Forex commentary: Palady, NZDUSD fakey update inside bar

In our comment from 9-9-10, we discussed the installation fakey bullish who formed the day before in the NZDUSD, which we posted shortly after it was formed in our Member's forum. This setting has shot up to the next logical horizontal area near 0.7350, providing traders who have taken this trade with some decent seeds and a solid risk to reward the installation.

It's worth noting how price has met significant levels of horizontal in NZDUSD recently.Notice how the price moved from 0 7150 and, therefore, up to 0.7350 before reversing.

AUDUSD:

The daily formed internal bar today in resistance near 0.9400. This internal bar can cause prices to fall down support near 0.9200. However, there would try to short to a bull market, instead we would wait for moving lower potential and then try to get on board the uptrend with a configuration of bullish price action forming around 0.9200.

For deeper analysis of the major currency pairs and analysis of forex price action, check out my forex trading course.

Comment:

The dollar posted its biggest one-day gain against the Japanese yen in almost two years, today as Japan began selling in the market forex Yen in order to weaken the currency recently momentum in order to make exports more attractive to foreign buyers.

Intervention Japanese also helped push the euro, Australian dollar and British pound today substantially higher against the yen, although the Japan mainly bought dollars

The Dow rose 46.24 points or 0.44%, S & P 500 added 3,97 points or 0.35% and the Nasdaq added 11.55 points or 0.50%.

Forex Commentary: NZDUSD Fakey Continuation 9-10-10

Posted on 11 September 2010

The NZDUSD bullish closed fakey we discussed in the commentary yesterday and originally published in our Member's forum immediately after this past Sunday, continued to push higher today in closing this week.

We see resistance coming in 0.7350 near and could see price challenge at this level next week, but we could also see a consolidation or a possible rotation under re-test support near 0.7150.

For deeper analysis of the major currency pairs and analysis of forex price action, check out my forex trading course.

Comment:

The dollar closed the week mixed as has gained ground pound, euro, Swiss franc, while losing to the Japanese yen, Australian dollar, New Zealand dollar and Canadian dollar.

The Dow rose 47.53 points, or 0.46%, S & P 500 added 5.37 points or 0,49% and the Nasdaq added 6.28 points or 0.28%.

Settings of Trade Forex commentary: NZDUSD fakey and breakout Daily 9-9-10

Posted on September 10, 2010

NZDUSD:

Yesterday, in our daily comment forum member we posted up a setup fakey confident that formed in the NZDUSD. The fakey then came well upwards and seems to have some room to push even higher.

We can see that the chart below shows resistance coming near 0.7350.We would have liked to have seen a strong grasp the NZDUSD today, but given the momentum of recent was bullish we see even the path of least resistance, being higher, at least until 0.7350.

AUDUSD:

The daily has managed to break above resistance near 0.9200 and closed above this level as well, with a closing price of approximately 0.15,494. we see the next greater resistance to this currency pair coming just below 0.9400 and now awaits the 0.9200 to provide support.

For deeper analysis of the major currency pairs and analysis of forex price action, check out my forex trading training course.

Comment:

The daily and NZDUSD gained ground today while some of the other Major loss against the dollar. Australian and New Zealand currencies are exceptionally strong now due to continued growth in those countries in part fueled by strong growth in parts of Asia.

The dollar was still weaker against the dollar and Japanese Yen Canada but managed to earn on the pound sterling, euro and Swiss franc.

The Dow gained points 28.23 or 0.27%, S & P 500 added 5.31 points, or 0.48% and the Nasdaq added 7.33 points or 0.33%.