Daily Forex Technicals | Written by India Forex
Rupee: Referring to our previous charts and updates we still maintain a bullish view on rupee aiming 48.80 levels. Dollar has slightly gone strong in the last couple of trading sessions which is looked more as a retracement. Only a break above 50.30 would change the view to neutral otherwise indicators are quite bullish. Bullish
Euro: Euro fell sharply due to poor economic expectations and bearish chart formations. The charts are looking quite oversold and retracements are expected to the tune of 1.3130 levels. Look for opportunities to go short around those levels or in turn go long around current levels for 70-80 pips. (Eur/Usd:1.2985). Bearish.
Pound: The pair broke the channel support at 1.4770 but is likely to take support from the 100 4-hourly and 21 Daily EMA at 1.4650-4690 levels. Incase the market is turning again from those levels we would look at buying for 100 pips. (Gbp/Usd: 1.4740). Neutral Yen: The Usd/Jpy pair is still stuck in the weekly triangle support at 98.32 and resistance at 101.70 levels. The pair is likely to break the consolidation soon. The direction of the break is likely to determine the direction of the pair for the next few sessions. (Usd/Jpy: 98.60).
Australian Dollar: Aussie has just broken the trend line support. It should ideally hold 0.7100 levels. Only a break below 0.7100 for 2 consecutive sessions would change the outlook neutral. (Aud/Usd: 0.7180).
Gold: Gold as expected plunged to the 200 Day EMA at $864 levels. Gold is holding below the daily and weekly trend lines and crucial moving averages. Strong break of $864 support can bring a fall upto $850. Sell at retracements around 880 to 890 levels. Short term Bearish (Gold: $887.00)
Dollar index : Dollar Index firmed up in the last few trading sessions mainly due to Euro weakness and is seen pressing the 86 – resistance levels once again. The bias for DX remains bullish above the 82-key support. Decisive break above 86.15 could march a rally upto 88 levels. Bullish.
Daily Forex Technicals | Written by FXtechtrade
EUR/USD
Today's support: - 1.3046(main), where correction is possible. Break would give 1.3003, where correction also may be. Then follows 1.2984. Break of the latter would result in 1.2960. If a strong impulse, we would see 1.2939. Continuation will give 1.2914 and 1.2881.
Today's resistance: - 1.3143 and 1.3164(main). Break would give 1.3386, where a correction is possible. Then goes 1.3228. Break of the latter would result in 1.3247. If a strong impulse, we'd see 1.3276. Continuation will give 1.3290 and 1.3316.
USD/JPY
Today's support: - 98.86, 98.55 and 98.10(main). Break would bring 97.90, where correction is possible. Then 97.62, where a correction may also happen. Break of the latter will give 97.44. If a strong impulse, we would see 97.20. Continuation would give 96.86 and 96.65.
Today's resistance: - 99.94(main), where a correction may happen. Break would bring 100.24, where also a correction may be. Then 100.51. If a strong impulse, we would see 100.82. Continuation will give 101.14.
DOW JONES INDEX
Today's support: - 8100.00, 8053.26 and 8011.30(main), where a delay and correction may happen. Break of the latter will give 7986.50, where correction also can be. Then follows 7966.14. Be there a strong impulse, we would see 7922.81. Continuation will bring 7897.44.
Today's resistance: - 8179.26 and 8201.20(main), where a delay and correction may happen. Break would bring 8224.60, where a correction may happen. Then follows 8251.87, where a delay and correction could also be. Be there a strong impulse, we'd see 8281.36. Continuation would bring 8302.50 and 8324.10.
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