Forex Technical Update 9/30/2010 - Greenback is Fighting Back as Gold's Record Run Stalls

Forex Technical Update 9/30/2010

The correlation of general USD weakness is very strong with the rally in Gold. As gold shows topping action, the EUR/USD and AUD/USD appear to be topping as well, and the USD/JPY appears to be bottoming. The GBP/USD reacted very strongly and is testing its channel support. Finally, we also see the Japanese yen firm up a bit, as the GBP/JPY continues to slide, and the EUR/JPY appears to be topping. Let's look at the charts to assess the significance of today's moves.

Fan Yang CMT
www.fxtimes.com

Forex Technical Update 9/27/2010 - Consolidation in Gold May Lead to Some USD Strength

Forex Technical Update 9/27/2010
Fan Yang CMT
www.fxtimes.com

Today, the EUR/JPY and AUD/JPY continues higher towards important resistance areas. The EUR/USD is consolidating and there may be a correction decline. If there is, look for a positive reversal to develop, as the market is poised to test the 135.50 area, and possibly head towards 1.39. Looking at gold, we may have a bit of dollar strength coming up, which may delay the rally in EUR/USD. But if the consolidation in Gold is followed by continuing rally instead, the EUR/USD is also likely to continue. Let's take a look at the charts.

Forex Technical Update 9.17.2010 - Japanese Yen after Intervention

Forex Technical Update 9.17.2010

The Japanese yen started the week mainly strengthening. Wednesday's intervention pressured the currency. As we will see, most yen-crosses are still within bearish or at most ranging context. The GBP/JPY, EUR/JPY, AUD/JPY, and CAD/JPY and USD/JPY are all ranging or bearish. The CHF/JPY pair is the only one with a bullish outlook. Therefore, the market might not respect the intervention and may want to test the pre-intervention level. Let's see what the charts say.

Fan Yang CMT
www.fxtimes.com

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