Australian Dollar fell below the 200-day moving average and the close below this level, which was first time from August 2007, means a negative signal. But it is necessary to pay attention to the fact that the Cross moves below the 2% envelope that points at excessiveness of movement. Generally long-term perspective seems negative, taking into account bearish trend below the basic moving averages.

RES 4: $0.9556 55-day moving average
RES 3: $0.9448/49 10, 100-day moving average
RES 2: $0.9323 5-day moving average
RES 1: $0.9203 200-day moving average

Current quotation: $0.9154

SUP 1: $0.9033 low of 1 Apr.
SUP 2: $0.9020 38.2% Fobonacci between $0.7681 and $0.9847
SUP 3: $0.8956 low of 20 March
SUP 4: $0.8764 50% Fibonacci between $0.7681 and $0.9847

Chart Analysis: ttp://bp1.blogger.com/_JqPMdm0pyVs/SJhlnqJNxNI/AAAAAAAAAUY/P1_nXBRGAOA/s1600-h/0805.JPG


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EURUSD continues an ascending correction at the beginning of the European Market. The Cross recorded the high at $1,5516, but according to dealers the execution of stops did not give necessary stimulus to the Euro that provoked current take profit. Experts expressed their assumption that the Euro will not move away from the level of $1,5490, because of the strike option in big volume. Offers are in the range between $1,5520 and 1,5525 and above $1,5530/35. Ask seems at the level of $1,5485/80.

Analysis picture: ttp://1.bp.blogspot.com/_JqPMdm0pyVs/SJlp61Muk3I/AAAAAAAAAUg/CM6pK9-28L8/s1600-h/EURUSD.gif

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Today Bank of England did not bring any surprise to the market, although nobody did not expect such news from it, taking into account dilemma in the form of economic weakening and high inflation, against which the British Central Bank stand. At the meeting in August the Committee on monetary politics made a decision to leave its rate without change at the level of 5,00%. The British Pound reacted to it first with light weakening, but sells were inactive and ask at the level of $1,9505/10 was enough to let sellers to below. In this time the quotation of GBPUSD trades at the level of session highs near $1,9520. At this level potential of the Cross is limited by offers in the rage between $1,9520 and 30. The biggest interest today is focused on press conference of the president of European Central Bank Jean-Claude Triche which will take place at 14:30 CET.



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In Friday the European single currency broke the support level of the 200-day moving average which lays at the level of $1,5225. Since then the Euro had never moved up and fell below the level of $1,50. Now the Euro was a little corrected to $1,5060, noted analysts of Robobank. They said that a former resistance level of 4th quarter of 2007 and 1st one of 2008 becomes the nearest support with $1,4925/65. If the support is lost, it may give signals of weakening to the level of $1,4310. A lot of thing belong to the oil price which now shows serious correction. In the short-term perspective the picture in the Euro can be complicated by conflicts between Russia and Georgia.

EURUSD (D1)
ttp://1.bp.blogspot.com/_JqPMdm0pyVs/SJ__Z92ki7I/AAAAAAAAAVQ/QftQ4BhOs98/s1600-h/0811d1.gif

EURUSD (M05)
ttp://2.bp.blogspot.com/_JqPMdm0pyVs/SJ__dFqsDNI/AAAAAAAAAVY/FLgGNK3rDUg/s1600-h/0811m05.gif

IFC Markets is planning the third Forex Trade Contest for traders. In this time traders all over the world can participate in this contest and may become a winner. Forex traders are welcome to our Contest!

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The Statement of British national department of statistics gave the signal that the weakening of worker market in Great Britain seems a little more expressive than expected. It exerted influence on the British Pound and caused its fall to the level of bids at $1,8950/45. These bids could stop bearish movement of the Pound. At this moment GBPUSD trades near the level of $1,8979. Dealers speak about offers at the level of $1,9000, and in the same time the level of big interest is now formed at the level of highs in the session. Absent of special reaction to weak data is conditioned by coming near publication of the statement of bank of England on Inflation, so the dealers. Some speculators want to see in this statement s signal of future rate rising.

Chart Analysis: ttp://1.bp.blogspot.com/_JqPMdm0pyVs/SKKrVzyhdCI/AAAAAAAAAVw/umLehPGchLI/s1600-h/080813.JPG

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IFC Markets is planning the third Forex Trade Contest for traders. In this time traders all over the world can participate in this contest and may become a winner. Forex traders are welcome to our Contest!

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While daily indicators give signals of reverse, the daily Bollinger Bands becomes wider, increasing risk of furhter falling. Hour support goes through near $1,8554, but break below $1,8510/20 can show the Cross the way and allow it to fall to the long-term line of support at $1,8428.

RES 4: $1.8900 23.6% Fibonacci correction level
RES 3: $1.8838 low of Nov. 2006
RES 2: $1.8785 high of 14 Aug.
RES 1: $1.8720 high of 18 Aug.

Current course : $1.8584

SUP 1: $1.8510/20 low of Aug. 2008, correction low of Oct. 2006
SUP 2: $1.8428 Support line from 18 Sept. 2007
SUP 3: $1.8332 100% projection level between $2.1158 - $1.9339, built from $2.0151
SUP 4: $1.8300 lower line of Bollinger Bands

GBPUSD (M05)
ttp://3.bp.blogspot.com/_JqPMdm0pyVs/SKvsyx467uI/AAAAAAAAAWg/iq6yoHbYZOk/s1600-h/080820gbpusd-m05.gif

GBPUSD (D1)
ttp://3.bp.blogspot.com/_JqPMdm0pyVs/SKvssZikuPI/AAAAAAAAAWY/8_RLgUTTBg4/s1600-h/080820gbpusd-d1.gif


IFC Markets is planning the third Forex Trade Contest for traders. In this time traders all over the world can participate in this contest and may become a winner. Forex traders are welcome to our Contest!

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The Cross GBPUSD tested the level of 1,8630, where, traders said, stops were set. Before the publication of GDP data in Great Britain as a 2nd quarter the British Pound fell to the mark of 1,86558, and after the publication the fall of Pound continued. Ask in the background of take profit swallowed up executed stops. A break below this level conditions a movement to 1,8610/00.

According to the Department of National Statistics, in the 2nd quarter the British economics did not rise. In the yearly ratio the rate of growth consists 1,4%. Activity in the service sector was reviewed to reduction to 0,2% qu/qu from 0,4%. It is the lowest indox from 1995 years.

GBPUSD (M01)
ttp://2.bp.blogspot.com/_JqPMdm0pyVs/SK6Jl0VmT7I/AAAAAAAAAWw/mKN3-DygPg/s1600-h/080822gbpusd-m01.gif


IFC Markets is planning the third Forex Trade Contest for traders. In this time traders all over the world can participate in this contest and may become a winner. Forex traders are welcome to our Contest!

You can now register the contest from the official site of IFC Markets. The registeration forum is

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