New York
London
Tokyo
FX Weekly Report
The FX Weekly Report provides the latest, in-depth forex technical analysis about the FX market each week. By Pierre Charlebois.

Volatility remains high as the US Dollar continues to try and reverse its fortunes

November 29, 2009 at 6:01 pm • Posted in General

This week saw a sudden turn back towards Dollar strength and a brief flight to safety amid the news out of the middle east regarding Dubai’s financial debacle.

It demonstrates how fragile the overall picture is of the world economy. Knowing this, the question is; what event might cause further reaction by investors and traders to run to safety in the USD.

From a technical perspective a common way a long term trend would end is in an Ending Diagonal (wedge). I have included a potential ‘Elliott Wave’ count on EUR/USD as one possibility of such a hampering.

Of course these counts on shorter term charts are always quite subjective so anything is still possible.

 

USD Index – Trend-line still holding…

USDindex_Nov_29_09

 

EUR/USD – Is there an ending diagonal forming?

EURUSD_Nov_29_09

EURUSD_Nov_27_09

 

GBP/USD – Top may hold

GBPUSD_Nov_29_09

 

USD/JPY – Is a bottom forming?

USDJPY_Nov_29_09

 

USD/CHF – Reflects the Index

USDCHF_Nov_29_09

 

AUD/USD – Channel support broken

AUDUSD_Nov_29_09

 

NZD/USD – Is there a new channel forming?

NZDUSD_Nov_29_09

 

USD/CAD – Range narrowing; which way will the break-out be?

USDCAD_Nov_29_09

 

EUR/JPY – Will the reversal be significant?

EURJPY_Nov_29_09

SocialTwist Tell-a-Friend

Leave a Response

Trading Metro
Disclaimer

Before diving into the legalese below, use your common sense when trading. Rely on yourself to define trade execution, don't trade with money you cannot afford to lose, and know the risks of trading. Be responsible, be honest, and use common sense.

Online trading, especially that on margin carries a high level of risk and may not be suitable for all investors. Opinions expressed at Trading Metro are those of the independent authors and do not necessarily represent the opinion of Trading Metro. Trading Metro has not verified the accuracy of any claim or statement made by any independent author. It's your responsibility to ensure the veracity of information presented.

Any solutions, opinions, news, research, analyses, prices or other information contained on this website, by Trading Metro, its employees, partners or contributors, is provided as general market commentary and tools, and does not constitute investment advice. Trading Metro will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information. Information on Trading Metro is NOT a recommendation or solicitation to buy or sell any securities. Your use of this and all information contained on Trading Metro is governed by the Terms and Conditions of Use. Please click the link to view those terms. Follow this link to read our Editorial Policy and our Privacy Notice.

Feedback Form