Your Friend LLC

Dollar/Yen climbed on Friday, as expected, from 89.67 up to the 90.83 top, where the bullish momentum was limited, closing the week at 90.22. On the 1 hour chart there is a well formed wide downward channel, the upper limit of which was touched on Friday. Going bellow last Wednesday’s…

The GBP exhibited weakness in the session with dealers attributing its initial soft tone to fixing-related flows. The UK Manufacturing PMI data also highlighted the positive effect of a GBP currency as the data series hit a 15-year high as the new export orders and output were the main contributors….

The greenback traded in relatively narrow range last week as most traders and investors awaited the release of key U.S. GDP data on Friday, however, dollar kept a firm undertone and support in EUR/USD and resistance in USD/CHF were broken. The greenback then extended gain as the economic data finally…

Despite rebounding to 126.78 last Friday, the stronger-than-expected retreat and the breach of previous support at 124.81 suggest recent decline is still in progress and one more fall to 123.99 (61.8% projection of 133.65 to 126.55 measuring from 128.38) but reckon 123.40/50 would hold, bring another rebound later. However, only…

Although aussie has remained under pressure and the decline from 0.9331 may extend weakness towards 0.8950, oversold condition should limit downside to recent low at 0.8735 and bring another rebound later. Above 0.8960/65 is needed to signal low has possibly been formed and risk stronger rebound towards resistance at 0.9049,…

The single currency fell again last week partly due to the release of better-than-expected U.S. GDP data and price dropped to as low as 1.3851 this morning, adding credence to our bearish count that wave v, wave (c) as well as wave C has ended at 1.5145 and our indicated…

As indicated in our previous update, early break of 91.25 signals the first leg of upmove from 84.82 (tentatively a leg of wave (2)) has ended at 93.78 and b leg of this wave (2) is unfolding and reached our indicated downside target at 89.30 (50% Fibonacci retracement of the…

As a continuation to the improvement seen in European economies in the last quarter last year of 2009, the manufacturing sector continued its expansion at the beginning of the New Year as shown by the data released today.

EUR/USD is in a downtrend, after peaking at 1.5146 (Nov.25,2009). Technical indicators are neutral, and trading is situated below the 50- and 200-Day SMA, currently projected at 1.4793 and 1.4169