Daily Forex Technicals | Written by ecPulse.com
EURO
The Euro versus the Dollar halted further inclines last Friday near the first resistance level at 1.3315 before reversing to the downside in correctional movements for the last incline. The support level at 1.3110 and 1.3060 (61.8% correction) need to be monitored closely where a breach tot eh downside will open the way towards 1.2810. Our outlook on the short term remains to the downside as far as 1.3360 remains intact.The trading range for today is among the key support at 1.2770 and the key resistance at 1.3360.The general trend is to the downside as far as 1.4710 remains intact with targets as 1.2120.
Support: 1.3110, 1.3090, 1.3045, 1.3000, 1.2955
Resistance: 1.3210, 1.3300, 1.3360, 1.3405, 1.3450
Recommendation: According to our analysis, sell the pair below 1.3110 with targets at 1.3000 and stop loss with four-hour closing above 1.3190
GBP
The Cable versus the Dollar continued to decline as seen in the above image as a key support at 1.4590 gained strength which may keep the short term and intraday trends to the downside where a breach of this level will lead the pair towards 1.4480 and 1.4400. Completing the targets will make it easier for the pair to breach 1.4480. The next targets are at 1.4340 and 1.4110 as far as 1.4825 remains intact on the short term.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: 1.4590, 1.4530, 1.4480, 1.4400, 1.4340
Resistance: 1.4640, 1.4705, 1.4745, 1.4790, 1.4845
Recommendation: According to our analysis, sell the pair below 1.4590 with targets at 1.4480 and 1.4400 and stop loss with four-hour closing above 1.4705
JPY
The USD/JPY pair declined gradually within a downside channel as it nears our suggest targets at the key support for the channel at 96.10. Breaching the last downside correction level for the upside wave from 96.10 to 101.45 will revive the potential for further declines to take the pair to 93.75 yet we still may witness upside movements to 97.95 as it is affected by the key support for the channel in an attempt to gather bearish momentum. The decline remains as far as 97.95 remains intact.The trading range for today is among the key support at 94.70 and the key resistance at 100.20.The general trend is to the downside as far as 102.60 remains intact with targets at 84.95 and 82.60.
Support: 96.10, 95.60, 95.25, 94.85, 93.95
Resistance: 97.40, 97.95, 98.35, 99.40, 99.70
Recommendation: According to our analysis, buy the pair above 96.10 with targets at 97.40 and stop loss with four-hour closing below 95.25
CHF
The Dollar versus the Swissy declined in an attempt to breach the key support for the ascending channel at 1.1420 yet the key support at 1.1350 was able to halt further declines to result in a rebound to the upside to maintain levels once again above the key support for the above mentioned channel. We expect an incline on the intraday basis after building a solid base above 1.1420 to reach the resistance at 1.1585 where a breach of this level will take the pair to the key resistance for the channel at 1.1775. This incline holds as far as 1.1350 remains intact.The trading range for today is among the key support at 1.1165 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: 1.1350, 1.1305, 1.1240, 1.1205, 1.1165
Resistance: 1.1465, 1.1535, 1.1585, 1.1645, 1.1725
Recommendation: According to our analysis, buy the pair above 1.1420 with targets at 1.1585 and stop loss with four-hour closing below 1.1350
Daily Forex Technicals | Written by India Forex
Euro: Euro retraced after moving to a high of 1.3293 . Holding above 1.3150 would maintain the bullish view for euro. The charts show some more room to correct but 1.3150 (100 day EMA on 4 hrly) should ideally hold for a move back to 1.3250. (Eur/Usd:1.3170). Bullish.
Pound: The pair went till the high of 1.4770 (bottom of the rising trendline) and corrected 170 pips since then, the strategy for pound stays slightly neutral until it recovers its losses breaking 1.47 again by today or tomorrow. Stay neutral. Gbp/Usd: 1.4590). Neutral.
Yen: The Usd/Jpy pair is clearly in the downtrend again after breaking the trendline support at 98.32 and also after meeting weekly resistance at 101.70. The bias of the pair is clearly bearish i.e usd would be weak till 99.00 (rising trendline) breaks and holds again. Bearish (Usd/Jpy: 96.54).
Australian Dollar: Aussie is clearly staying below the trendline support and holding below it . The weekly stochastic is indicating selling opportunities at every rise. Stay short on the pair targeting 0.6940 as our first target. Bearish (Aud/Usd: 0.7114).
Gold: Gold has moved with excellent momentum but highly overbought at the charts . It is likely to correct till 895 dollars after a push higher again. Medium term slightly bullish. Bullish (Gold: $915.00).
Dollar index :The charts indicate a break of upward trendline again . Dollar index is showing bearish signals in medium term (DI-85.30). Bearish.
Daily Forex Technicals | Written by FXtechtrade
EUR/USD
Today's support: - 1.3144 and 1.3092(main), where correction is possible. Break would give 1.3061, where correction also may be. Then follows 1.3050. Break of the latter would result in 1.3016. If a strong impulse, we would see 1.2982. Continuation will give 1.2957. Today's resistance: - 1.3210 (main). Break would give 1.3234, where a correction is possible. Then goes 1.3262. Break of the latter would result in 1.3297. If a strong impulse, we'd see 1.3316. Continuation will give 1.3340.
USD/JPY
Today's support: - 96.30(main). Break would bring 96.01, where correction is possible. Then 95.86, where a correction may also happen. Break of the latter will give 95.64. If a strong impulse, we would see 95.40. Continuation would give 95.18.
Today's resistance: - 97.26 and 97.43(main), where a correction may happen. Break would bring 97.87, where also a correction may be. Then 98.12. If a strong impulse, we would see 98.44. Continuation will give 98.57.
DOW JONES INDEX
Today's support: - 8021.23 and 7987.50(main), where a delay and correction may happen. Break of the latter will give 7959.37, where correction also can be. Then follows 7922.80. Be there a strong impulse, we would see 7900.20. Continuation will bring 7871.40. Today's resistance: - 8123.46(main), where a delay and correction may happen. Break would bring 8150.62, where a correction may happen. Then follows 8173.13, where a delay and correction could also be. Be there a strong impulse, we'd see 8195.62. Continuation would bring 8246.30 and 8280.00.
Daily Forex Technicals | Written by Mizuho Corporate Bank
EURUSD
Comment: Closing above the thinnest point of the Ichimoku 'cloud' and the 9-day moving average (struggling with the 26-day one), with a 'bullish engulfing' candle on the weekly candle. Momentum has yet to turn bullish but should do when we break above the top of the large 'flag'.Strategy: Attempt longs at 1.3145; stop below 1.3000. Add to longs on a sustained break above 1.3305 for 1.3400 short term and 1.3600 further out.Direction of Trade: →↗
Support Resistance
1.3135 " 1.3255
1.3113 1.3302*
1.309 1.3395*
1.3000* 1.3515
1.295 1.3585
GBPUSD
Comment: Consolidating above the top of the Ichimoku 'cloud', closing above the 26-day moving average, in what can be seen as a 'bullish engulfing' candle. Bullish momentum might increase if we hold above 1.4600 today though really a weekly close above 1.5000 is essential for a decent rally to really get going.Strategy: Attempt longs at 1.4555; stop below 1.4380. Short term target 1.4700, eventually 1.5000.
Direction of Trade: →↗
Support Resistance
1.4550 " 1.4675
1.45 1.4708
1.444 1.478
1.4397* 1.4855
1.435 1.496
USDJPY
Comment: Re-testing Friday's low, the 61% Fibonacci retracement and the 9 and 26-day moving averages have crossed to a sell. We have adjusted our view and now see April's high at 101.45 as an interim top so that prices are likely to hold below here for another couple of months or so. The next step should be a bout of generalised US dollar weakness so that dollar/Yen drops towards 93.50.Strategy: Attempt shorts at 96.65, adding to 98.00; stop well above 98.50. Add to shorts on a break below 96.50 for 95.75 short term, probably 93.50 further out. Direction of Trade: →
Support Resistance
96.50* " 97
96.35 97.25
95.95 97.44
95.65* 98.15
95.35 98.50*
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