EUro
Comment: Trying to base and bounce from the bottom of a large 'flag' formation, but could do a lot better if momentum were to turn bullish. Expect another cautious push higher today. Strategy: Attempt small longs at 1.3025; stop below 1.2850. Add to longs on a sustained break above 1.3050 and again above 1.3100 for 1.3400 short term.Direction of Trade: →↗
Support Resistance
1.2980 " 1.3038
1.2885* 1.3078
1.2855 1.3095
1.2825 1.314
1.2765 1.3185
GBPUSD
Comment: Bouncing from the top of the Ichimoku 'cloud' and note that the 26-day moving average has moved up sharply to 1.4590. Bullish momentum might increase if we hold above 1.4500 today.
Strategy: Attempt longs at 1.4555; stop below 1.4350. Short term target 1.4700 then 1.4850. Direction of Trade: →↗
Support Resistance
1.4500 " 1.4687
1.4467/1.4443 1.4708
1.4397* 1.478
1.4275 1.4855
1.424 1.496
USDJPY
Comment: Still holding just above the 50% retracement level, between the 9 and 26-day moving averages. Allow for yet more of the same today with chart levels not holding well, so that an initial dip to a new recent low is reversed later in the day.
Strategy: Attempt longs at 98.00; stop well below 97.50. First target 99.00/99.50Direction of Trade: →
Support Resistance
97.73 " 98.5
97.66/97.50* 98.92/99.00
97.25 99.5
97.1 99.69/99.77
96.5 100
Daily Forex Technicals | Written by ecPulse.com
EURO
The Euro versus the Dollar pair declined to form a double bottom at 1.2885 before rebounding back to the pivotal resistance level for the intraday trend at 1.3000 where it was able to breach this level as it was supported by the bullish technical pattern with a neckline at 1.3000 (as seen in the secondary image). This pattern is targeting the 1.3110 level which could be seen as a retest for the level before reversing back to the downside to continue the short term trend targeting 1.2770 and 1.2500 respectively. The decline remains as far as 1.3110 is intact.The trading range for today is among the key support at 1.2770 and the key resistance at 1.3380.The general trend is to the downside as far as 1.4710 remains intact with targets at 1.2120
Support: 1.3000, 1.2955, 1.2885, 1.2845, 1.2800
Resistance: 1.3110, 1.3180, 1.3215, 1.3260, 1.3295
Recommendation: According to our analysis, sell the pair below 1.3110 with targets at 1.3000 and stop loss with four-hour closing above 1.3200
GBP
The GBP/USD pair was able to breach the key support at 1.4480 yet the gradual decline failed to pass the 1.4400 level as it rebounded once again to the upside to return near 1.4480. On the four hour charts, a clear close below 1.4480 wasn't witnessed where we expect the pair to continue the incline towards levels among 1.4575 – 1.4590. We still hold our outlook to the downside however, targeting 1.4340 and 1.4240 as far as 1.4590 remains intact.The trading range for today is among the key support at 1.4240 and the key resistance at 1.5280. The general trend is to the downside as far as 1.5270 remains intact with targets at 1.3440.
Support: 1.4480, 1.4400, 1.4340, 1.4310, 1.4270
Resistance: 1.4575, 1.4590, 1.4655, 1.4705, 1.4745
Recommendation: According to our analysis, sell the pair below 1.4480 with targets at 1.4340 and stop loss with four hour closing above 1.4590
JPY
The Dollar versus Japanese Yen continued to decline as it reached our suggested targets around 97.40 where it still has more room to decline yet needs to correct to the upside to escape the oversold areas as seen on momentum indicators before reversing to the downside in an attempt to reach the key support for the descending channel at 96.65. This decline remains as far as 98.70 is intact.The trading range for today is among the keys support at 96.10 and the key resistance at 101.45.
The general trend remains to the downside as far as 102.60 remains intact with targets at 84.95 and 82.60
Support: 97.40, 96.90, 96.65, 96.10, 95.70
Resistance: 98.15, 98.70, 99.40, 99.70, 100.75
Recommendation: According to our analysis, sell the pair below 98.15 with targets at 96.65 and stop loss with four-hour closing above 98.70
CHF
The Dollar versus the Swissy declined yesterday to reach levels below the support as seen in the above image where it is currently attempting to confirm the breach of the neckline for the bearish technical pattern at 1.645 with targets at 1.1535. We expect the pair to incline after reaching the target to return to the short term upside trend which requires the breach of 1.1840 after breaching the 76.4% at 1.1725.The trading range for today is among the key support at 1.1335 and the key resistance at 1.1900. The general trend is to the upside as far as 1.0570 remains intact with targets at 1.2245
Support: 1.1620, 1.1535, 1.1500, 1.1460, 1.1405
Resistance: 1.1645, 1.1725, 1.1840, 1.1900, 1.1965
Recommendation: According to our analysis, sell the pair below 1.1645 with targets at 1.1535 and stop loss with four hour closing above 1.1725
Daily Forex Technicals | Written by India Forex
Gold: Gold is pressing against the $895 levels (21 Daily EMA). The daily charts are also correcting towards the overbought region. Upside could be restricted around $903 cluster resistance where shorts for intraday $10 could be considered. (Gold: $891.00)
Dollar index :DX is seen consolidating below the 87.20 strong resistance. The bias for DX remains bullish above the 82.30-key support. The chart is overbought and some retracement could be expected upto 86.03 (minor support) before a rally. Bullish.
Daily Forex Technicals | Written by FXtechtrade
DOW JONES INDEX
Today's support: - 7848.20, 7817.72 and 7796.30(main), where a delay and correction may happen. Break of the latter will give 7782.19, where correction also can be. Then follows 7768.11. Be there a strong impulse, we would see 7734.38. Continuation will bring 7716.10 and 7995.00.
Today's resistance: - 7920.08, 7967.90 and 7798.64(main), where a delay and correction may happen. Break would bring 8032.50, where a correction may happen. Then follows 8048.36, where a delay and correction could also be. Be there a strong impulse, we'd see 8071.77. Continuation would
No comments:
Post a Comment