Daily Forex Technicals | Written by FX Greece | Mar 31 09 10:12 GMT |
Currency Technical Report
EUR/USD
Resistance: 1,3250/ 1,3285-90/ 1,3310-15/ 1,3350/ 1,3420/ 1,3470/ 1,3520
Support : 1,3210/ 1,3170/ 1,3150/ 1,3120/ 1,3100/ 1,3080/ 1,3045/ 1,3000
Comment: The first day of the week was negative for euro, as it moved towards our targets at 1,3100-20. An upward reaction was expected at these important support levels.
The short term trend remains bearish and the reaction is still in terms of a retracement. If bulls gain momentum at the first support levels at 1,3200-10 and 1,3170-80, it will be a sign of strength. If support is confirmed and we see an upward reaction above 1,3280, our next target will be at 1,3330-50 or 1,3400-20, which was the base of the consolidation before the decline.
Otherwise, a move below 1,3170, will bring the area of 1,3100-20 back into focus. A downward break would cancel our upward expectations and our next target will be at 1,2950.
*STRATEGY :
Small buy orders could be tried at 1,3210 and 1,3180, with stops below yesterdays lows (high risk). Our target will be at 1,3270-80 area.
Buy opportunities would also emerge in case of an upward break of 1,3280, with stops below 1,3240 and target at 1,3340-50 or even 1,3400-20.
Sell orders could be tried at 1,3420-40 with stops above 1,3480 area.
Forex Technical Analytics
CHF
The assumed test of key supports for the realization of the pre-planned buying positions was not confirmed and at the moment preservation of bullish party advantage as well as sign of bearish cycle incompleteness leave the earlier drawn up trading planes practically unchanged. Hence we assume the possibility of rate return to close 1.1410/30 supports, where it is recommended to evaluate activity development of both parties according to the charts of shorter time interval. For buying positions on condition of formation of topping signals the targets will be 1.1470/90, 1.1540/60 and/or further breakout variant up to 1.1600/20, 1.1680/1.1700, 1.1760/80. An alternative for sells will be below 1.1360 with targets 1.1300/20, 1.1240/60, 1.1160/80.
GBP
The pre-planned breakout variant for sells was realized but with damage in attainment of assumed targets. OsMA trend indicator, having marked Low of the current week by formation of reverse bullish signal with further buying activity rise and considering the chosen strategy gives reasons for buying planning priority in trading operations planning for today. Hence we assume the possibility of rate return to close 1.4220/40 supports, where it is recommended to evaluate activity development of both parties according to the charts of shorter time interval. For short-term buying positions on condition of formation of topping signals the targets will be 1.4280/1.4300, 1.4360/80 and/or further breakout variant up to 1.4420/40, 1.4500/20, 1.4580/1.4620. An alternative for sells will be below 1.4100 with targets 1.4000/40, 1.3860/1.3900, and 1.3760/80.
JPY
The pre-planned buying positions from key supports were realized with attainment of basic assumed targets. OsMA trend indicator, having marked relative activity rise of both parties as before does not give definiteness in the choice of planning priorities for today. Hence and considering the sign of bearish development incompleteness we assume the possibility of rate return to channel line '1' at 97.40/60, where it is recommended to evaluate activity development of both parties according to the charts of shorter time interval. For short-term buying positions on condition of formation of topping signals the targets will be 98.00/20, 98.60/80 and/or further breakout variant up to 99.20/40, 99.80/100.00. An alternative for sells will be below 96.80 with targets 96.20/40, 95.60/80.
EUR
The assumed test of key resistance range was confirmed with conditions for the realization of the pre-planned positions for sell. OsMA trend indicator, having marked preservation of bearish party activity gives reasons for preservation of the earlier opened positions for sell with targets 1.3200/20, 1.3140/60, 1.3080/1.3100 and/or further breakout variant up to 1.3020/40, 1.2960/80, 1.2900/20. An alternative for buyers as before will be above 1.3340 with targets 1.3380/1.3400, 1.3460/80, 1.3520/40.
No comments:
Post a Comment