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Overnight Movements

Written September 25, 2007 at 8:14 AM EST by Greg Michalowski 

GBP sold off last night as worry about the mortgage market weighed on the pound. GBPUSD sold off to a low of 2.0082. Trading at 2.0135 now. Testing resistance at 2.0142, then 2.0155.

EURGBP made it above the 0.6971 level and surged higher as in addition to GBP weakness, EUR officials were speaking of inflation. The pair stayed below the recent high of 0.7018, reaching a high of 0.7013. Short term intraday support at 0.6994, but the 0.6971 level is the key support.

Finally GBPJPY was able to move below the 200 hour MA at 231.67 then the trendline support on the hourly chart and make its way to a low of 229.70. It is testing short term resistance now at 230.44. A move above that level may target a test of the trendline resistance at 230.85.

Archived in Forex News, Forex Trading, Misc

GBPJPY 200 Hour at 231.67

Written September 24, 2007 at 3:54 PM EST by Greg Michalowski 

The 200 hour MA in GBPJPY is being tested at 231.67. A break below will target 231.38.

Archived in Forex Trading, Misc

GBPJPY testing 100 hour MA at 232.15

Written September 24, 2007 at 1:49 PM EST by Greg Michalowski 

A break below will target lower levels. Next Support 231.61 area,

Archived in Forex Trading, Misc

Market is getting more active as Europe/London close

Written September 24, 2007 at 11:46 AM EST by Greg Michalowski 

EURUSD trades to a low of 1.4068. Boounces through intraday resistance at 1.4082 rather quickly. Getting choppy.

Archived in Forex Trading, Misc

Equities Higher

Written September 24, 2007 at 10:37 AM EST by Greg Michalowski 

DJIA up 43, Nasdaq up 19, S and P up 2.69

Archived in Forex Trading, Misc

Dallas Fed manufacturing -4.6 versus -1.8 prior

Written September 24, 2007 at 10:35 AM EST by Greg Michalowski 

Weaker than expected.

Archived in Forex Trading, Misc

NZDUSD diverging on the hourly RSI

Written September 24, 2007 at 9:45 AM EST by Greg Michalowski 

Could be signaling a short term overbought top as the hourly RSI has diverged. The top would be confirmed if the price would move below the 21 hour MA at 0.7439

Archived in Forex Trading, Misc

GBPJPY tested short term support at 232.40

Written September 24, 2007 at 9:36 AM EST by Greg Michalowski 

Trading 232.56 now.

Archived in Forex News, Forex Trading, Misc

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