Daily Forex Technicals | Written by FXtechtrade
EUR/USD
Today's support: - 1.2982 and 1.2957(main), where correction is possible. Break would give 1.2917, where correction also may be. Then follows 1.2882. Break of the latter would result in 1.2857. If a strong impulse, we would see 1.2830. Continuation will give 1.2791.
Today's resistance: - 1.3072 and 1.3098 (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 1.3212. Continuation will give 1.3230.
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: - 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 India Forex
Rupee: Sustaining below the falling trendline at 50.50 we continue to maintain a bullish view on rupee aiming 48.80 levels. The Rupee came under pressure yesterday due to cancellation of old exporter contracts. The movement in Rupee is looking range-bound until there is clarity on the New Government. (USD/INR 50.30) Neutral.
Euro: Euro plunged close to 250 pips yesterday after taking the falling trendline resistance. The daily charts are showing a downside momentum while the 4-hourly charts are highly oversold. More Range bound trading could be witnessed above 1.2900. Cautious shorts at higher levels with profit target of 1.2950 can be considered. (Eur/Usd:1.3008). Neutral.
Pound: Cable fell 180 pips from 1.4693 before closing at 1.4624. Cable is struck within a range of 1.44 - 1.47. All the charts are currently showing a downside, thus shorts could be initiated at these levels (1.4610) for 70-80 pips. Alternatively, look for buying opportunities at dips. Stay cautious of the break-out (Gbp/Usd: 1.4570). 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 pair is trading close to the 38.2% Retrcament of the recent rise around 96.00 levels. Breaking below this can push the pair further upto 94.30 levels. Bearish (Usd/Jpy: 96.04).
Australian Dollar: Aussie has plunged almost 200 pips since yetserday's open(0.7211). The charts show a downside with support coming at 0.6920 (100 & 55 Daily EMA). The weekly stochastic is also indicating selling opportunities at every rise. Stay short on Aussie targeting 0.6940 as our first target. Bearish (Aud/Usd: 0.7010).
Gold: As discussed earlier, Gold still holds strength and is currently trading around $895 levels and further rally is still expected as long as 892 minor support holds. Medium term slightly bullish. Bullish (Gold: $898.00)
Dollar index : The Dollar Index strengthened after testing the 84.90 levels and charts are now neutrally poised indicating a slight range-bound session. View still reamins that DI is bearish in medium term (DI-85.90). RANGE-BOUND to Bearish
Daily Forex Technicals | Written by ecPulse.com
EURO
The Euro versus the Dollar was able to breach the support level at 1.3110 to reach our initial target at 1.3000 as the 1.2900 level (23.6% Fibonacci). The pair is being oversold which may result in an upside correction to 1.3050 – 1.3095 at the very most as our outlook remains to the downside targeting 1.2800 on the intraday basis as far as 1.3165 remains intact and 1.3320 on the short term.
The trading range for today is among the key support at 1.2800 and the key resistance at 1.3320 The general trend is to the downside as far as 1.4710 remains intact with targets at 1.2120
Support: 1.2955, 1.2900, 1.2845, 1.2800, 1.2750
Resistance: 1.3050, 1.3095, 1.3165, 1.3210, 1.3320
Recommendation: According to our analysis, sell the pair below 1.3050 with targets at 1.2900 and stop loss with four-hour closing above 1.3165
GBP
The Cable versus Dollar rebounding to the upside as it neared the key resistance at 1.4705 yet the 1.4692 level was strong enough to halt further inclines to reverse trading once again below 1.4590 to continue pressuring the pair and support our outlook to target 1.4480. We still expect further declines as the pair trades below the key support for the short term ascending channel where targets are now at 1.440 and 1.4340 as far as 1.4705 remains intact on the intraday.
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: 1.4530, 1.4480, 1.4400, 1.4340, 1.4310
Resistance: 1.4590, 1.4640, 1.4705, 1.4745, 1.4790
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 yesterday was able to reach the 96.10 level as the key support for the downside channel had shifted slightly to 95.90. We expect the pair to slightly incline towards the key resistance of the channel at 97.85 before reversing back to the downside to target levels below 94.00. Note that these movements remain as far as 97.85 is intact
The trading range for today is among the key support at 94.00 and the key resistance at 99.60. The general trend is to the downside as far 102.60 remains intact with targets at 84.95 and 82.60
Support: 95.90, 95.60, 95.20, 94.85, 93.95
Resistance: 96.60, 97.40, 97.85, 98.35, 98.75
Recommendation: According to our analysis, buy the pair above 95.90 with targets at 97.40 and stop loss with four-hour closing below 95.20
CHF
The Dollar versus Swissy was able to reach our initial target at 1.1585 after building a solid base at the 1.1425 support level yet engaged in an upside correction to reach 1.1545. Our outlook remains to the upside targeting 1.1785 (the key resistance for the ascending channel) with the confirmation of the breach of 1.1585 with four-hour closing above it and as far as 1.1450 remains intact.
The trading range for today is among the key support at 1.1355 and the key resistance at 1.1965 The general trend is to the upside as far as 1.0570 remains intact with targets at 1.2245
Support: 1.1545, 1.1510, 1.1450, 1.1415, 1.1360
Resistance: 1.1585, 1.1645, 1.1690, 1.1725, 1.1785
Recommendation: According to our analysis, buy the pair above 1.1545 with targets at 1.1690 and 1.1785 and stop loss with four hour closing below 1.1450
Daily Forex Technicals | Written by Mizuho Corporate Bank
EURUSD
Comment: Very disappointing as we drop back through the thinnest point of the Ichimoku 'cloud'. Expect several moves either side of 1.3100 this week.
Strategy: Attempt small longs at 1.3015; stop below 1.2885. 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
1.2985 " 1.3036
1.2945 1.31
1.2885* 1.32
1.2835 1.3255
1.272 1.3302*
GBPUSD
Comment: Messy and disappointing but holding up a little better than some other currencies. Only a weekly close above 1.5000 will get a decent rally going, so until then expect random moves which are not contained by chart levels.
Strategy: Possibly attempt longs at 1.4545; stop below 1.4380. Short term target 1.4700, eventually 1.5000 Direction of Trade: →↗
Support Resistance
1.4545 " 1.4638
1.4515 1.4695
1.444 1.478
1.4397* 1.4855
1.435 1.496
USDJPY
Comment: Dollar/Yen has retraced 38% of this year's rally and carefully poised at the top of the Ichimoku 'cloud', and has dragged Yen crosses down by more than we had allowed for. Expect JPY to try and hold above the 'cloud' this morning, maybe all day. Later we continue to favour a test of the 93.50 area.
Strategy: Possibly attempt shorts at 96.00; stop above 98.15. Add to shorts on a break below 95.50 for 93.55.Direction of Trade: →
Support Resistance
95.97 " 96.35
95.65* 96.9
95.35 97.44
94.25/94.15* 98.15
93.55 98.50*
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