Your Friend LLC

* Times listed are GMT

The Cable has fallen after rising towards 1.6069 after facing Resistance from the 8-DMA mentioned in the morning. If the 8-DMA Resistance continues to hold, we might see the pair consolidate between the 55-week MA (1.5756) and the 8-DMA (1.6074) over the next few days. The region near 1.6074-78 is…

As we warned on Tuesday of its hammer formation triggering a recovery higher, that has occurred and a build up on that strength is now underway suggesting we could see further gains towards its Jan 22?10 low at 1.6076. That level is a strong pivot and should reverse roles and…

The greenback drifted lower throughout the European morning but is off its worst levels. The weak dollar tone was aided by continued risk appetite and a general consensus that the EU Commission would accept the Greek austerity plan to reduce its budget deficit over the coming years. In the end…

Although the single currency has continued to move higher, break of 127.08 resistance is needed to confirm low has been formed at 124.45 on Monday as wave v and bring stronger rebound to 128.38, then towards 129.00/10 but reckon resistance at 129.50 would hold from here.

Despite falling to 0.8780 yesterday as RBA kept rates unchanged, aussie rebounded after holding above this week?s low at 0.8775, suggesting further consolidation would be seen but only a sustain break of resistance at 0.8928 (yesterday?s high) would signal temporary low is formed, then stronger rebound to 0.9000 would follow…

Aud/Usd The four hour trend is short. The Australian trade deficit widened during December as imports surged, following on from the Reserve Bank of Australia holding interest rates at 3.75%, going against the market expectancy of an increase to 4.0%. The initial drop in price has been contained within the…

TheLFB Swing Points on the major pairs are all set as resistance to any Usd long moves in trade on Wednesday, and sets up the dollar requiring a fundamental reason to get bought, against a technical near-term short environment. This week brought equity buying, gold and oil buying, and in…

The strong rebound from 1.0225 has retained our view that the fall from 1.0871 is the wave ii correction, however, as the greenback has retreated after rising to 1.0722 on Monday, suggesting initial consolidation would be seen but downside should be limited to 1.0415 (61.8% Fibonacci retracement of 1.0225 to…

Despite Friday?s brief fall to 1.4635, as euro has recovered from there on profit-taking, suggesting minor consolidation would take place and retracement to 1.4828 (38.2% Fibonacci retracement of 1.5140 to 1.4635), however, reckon 1.4888 (50% Fibonacci retracement) would attract renewed selling interest and bring another decline later. Below said support…