Daily Technical Analysis Forex/DJIA/Gold

Daily Forex Technicals | Written by FXtechtrade
EUR/USD
Today's support: - 1.3922 and 1.3910(main), where correction is possible. Break would give 1.3891, where correction also may be. Then follows 1.3857. Break of the latter would result in 1.3812. If a strong impulse, we would see 1.3770. Continuation will give 1.3735. Today's resistance: - 1.4017, 1.4040, 1.4075 and 1.4104(main). Break would give 1.4130, where a correction is possible. Then goes 1.4147. Break of the latter would result in 1.4172. If a strong impulse, we'd see 1.4198. Continuation will give 1.4218.
USD/JPY
Today's support: - 95.06, 94.84 and 94.50(main). Break would bring 94.35, where correction is possible. Then 94.02, where a correction may also happen. Break of the latter will give 93.80. If a strong impulse, we would see 93.54. Continuation would give 93.37. Today's resistance: - 95.67(main), where a correction may happen. Break would bring 95.90, where also a correction may be. Then 96.30. If a strong impulse, we would see 96.64. Continuation will give 96.95.
DOW JONES INDEX
Today's support: - 8413.62 and 8393.00(main), where a delay and correction may happen. Break of the latter will give 8367.18, where correction also can be. Then follows 8343.79. Be there a strong impulse, we would see 8325.00. Continuation will bring 8303.90 and 8281.75. Today's resistance: - 8507.77 and 8528.40(main), where a delay and correction may happen. Break would bring 8552.80, where a correction may happen. Then follows 8578.12, where a delay and correction could also be. Be there a strong impulse, we'd see 8606.22. Continuation would bring 8628.73 and 8551.20.
Daily Forex Technicals | Written by India Forex | May 27 09 06:51 GMT |
Forex Technical Update
Rupee: Rupee opened stronger at 47.55 after taking resistance from the 38.2% Retracement at 47.92 yesterday as expected also backed by month-end dollar demand by importers and weak stocks. The overall outlook for rupee still remains bullish. Sustained trading below 48.35 (50% Retracement) can bring a re-test of 46.80 support. Exporters should cover their exposures around 47.90 - 48.20 levels. (USD/INR : 47.58). Bullish.
Yen: The Usd/Jpy pair traded in a thin range yesterday. The daily stochastic shows
Gold: Gold plunged to $940 yesterday before closing at $951. We booked profits on yesterday's long position as the daily and 4- hourly charts remain overbought and a retracement upto $930 (cluster support) is on the cards. We maintain our view for going long in Gold around $930 - 935 as the overall bias for gold is bullish.(Gold- 949.72). Bullish
Dollar Index: DX continues to trade above our support target of 80.20; breaking of which can bring further bearishness upto 79.66. The stochastic continues to be flat in the oversold region. A small rebound could be expected from 79.66 support. (DI- 80.28) Bearish.
Daily Forex Technicals | Written by Mizuho Corporate Bank |
EURUSD
Comment: Yesterday's small 'spike low/hanging man' candle hints at a market looking for direction (here and in several major currencies too). As we move towards the pivotal 1.4200 area we feel that implied volatility should leap higher on a sustained break above 15.00%.Strategy: Buy at 1.3950, adding to 1.3800; stop well below 1.3700. Short term target 1.4000, then a lot more with a first measured target at 1.4200 then 1.4550.Direction of Trade: →↗
Chart Levels:
Support Resistance
1.3932 " 1.4005
1.386 1.4051/1.4060*
1.38 1.41
1.3730* 1.4125
1.37 1.4200*
GBPUSD
Comment: Sneaking to a new high for the year at 1.5982 after two consecutive 'spike low/doji' candles. Cable is overbought but bullish momentum is stronger than it has been since December 2006. Strategy: Buy at 1.5950, adding to 1.5800; stop well below 1.5700. Add to longs on a sustained break above 1.6000 for 1.6100/1.6200 short term.
Direction of Trade: →↗
Support Resistance
1.5900 " 1.5982
1.5835 1.6000*
1.5778 1.6100*
1.57 1.6200*
1.5514* 1.64
USDJPY
Comment: Hovering above fairly pivotal support roughly between 94.00 and 94.50, but below a large Ichimoku 'cloud' with moving averages suggesting a short. Implied volatility is expected to pick up over the next two weeks as prices look for direction. We continue to favour a move lower, maybe not this week but probably early in June. Strategy: Sell at 95.45, adding to 96.00; stop above 97.00. First target 94.55, then 93.55.Direction of Trade: →Chart Levels:
Support Resistance
94.93 " 95.51
94.55 95.65
94.25 96
93.85 96.22
93.55* 96.71*