AUDUSD Morning Outlook - 10Nov09
This currency AUDUSD looks to have had a solid trend run up from 0.9010 to 0.9275. However it looks like this FX pair has now exhausted it's trend and looks to require a pullback closer to it's regression mean. It's well outside of the top band on this 4H chart. With Volatility decreasing dramatically AUDUSD will have a dramatic breakout movement in the next day or so as volatility on the DCD indicator on this chart has decreased below it's bottom most envelope.
UDSCAD Morning Outlook - 10Nov09
Tuesday, 10 November 2009 07:33 |
Looking at the USDCAD Forex Chart below, it looks like we're at the bottom of the regression channel sitting in and around 1.0578 and with no major news announcements coming up today I would figure that we're looking at a move to the long side - however with volatility / deviation decreasing my hypothesis is that the downward trend from 1.0755 is for the most part over and USDCAD would likely recover a little bit after ranging a bit. Possibly retrace all the way to 1.0640 levels. I would only make that trade on the long side if I were to see momentum on the shorter time frames. Current bias however is indeed on the long side.
EURUSD Outlook - 09Nov09 - 2nd Followup
Monday, 09 November 2009 20:46 |
As stated in my earlier article tonight -- my hypothesis was that EURUSD was showing a bit of weakness and instead of pushing on past 1.500 it would instead retrace down to 1.4975 and possibly even lower. By the looks of things at this point in time it has indeed retraced down to 1.4975 and below. The fact that it was a more then likely overbought was shown through as it had well overreached it's regression mean @ it's extreme deviation point. The EURUSD (Forex) chart is attached click on read more.
Last Updated (Monday, 09 November 2009 20:53) |
EURUSD Morning Outlook - 10Nov09
Tuesday, 10 November 2009 07:20 |
Looks like we'll be in a fairly tight range at least for the interim. Bound by 1.5020 and 1.4975. Any forceful breakout to the top would see price head straight for 1.5050 and possibly beyond that while the downside is more then likely to 1.4900. We may see some pretty good action today as volatility / deviation is quite low via the DCD indicator at the moment thought it has been increased in the last few candle bars as noted. I don't think price in Forex especially for EURUSD every stays really at equilibrium so I will be looking for a breakout of some sort today either a continuation of the up trend or a serious retracement down to 1.4900 on the EURUSD In the attached chart the FX price for EURUSD is sitting in and around the regressio mean as well, combined with low volatility it doesn't give me reason to do anything other then scalping the smaller 1 minute and 5 minute timeframes off the regression means.
EURUSD Outlook - 09Nov09 - Followup
Monday, 09 November 2009 20:03 |
With EURUSD hanging at 1.500 and no major upward movement shown, I don't have a great deal of confidence that it will continue upwards to 1.5035 at least for tonights session unless something dramatic happens.
Last Updated (Monday, 09 November 2009 20:53) |
