Daily Technical Analysis Forex & DJIA

Daily Forex Technicals | Written by Mizuho Corporate Bank
EURUSD
Comment: Pushing strongly higher and re-testing January's high at 1.4363 (December's 'spike high' was 1.4720). A sustained break above, and a weekly close over 1.4200 constitutes an important long term break forcing many to panic and flee the US dollar. Strategy: Buy at 1.4290, adding to 1.4200; stop well below 1.4000. Short term target 1.4330/1.4360, then a lot more with a first measured target at 1.4545
Direction of Trade: →↗ Chart Levels:
Support Resistance
1.4272 " 1.4332
1.42 1.4363*
1.4100* 1.44
1.4 1.443
1.39 1.4545
GBPUSD
Comment: Hot on the heels of this week's leaders, Aussie, Kiwi and Brazil, all the more extraordinary considering the political background. It just goes to show how overdone last year's sell-off had been. It has now retraced just over 38% of the decline from 2007's high 2.1172 and met the weekly Ichimoku 'cloud'. This might stall the rally this week but with spectacular bullish momentum we would not bank on it. Strategy: Attempt small longs at 1.6585 but only if prepared to add to 1.6325; stop below 1.6000. Add to longs on a sustained break above 1.6675 for 1.6800, maybe 1.7000. Direction of Trade: →↗ Chart Levels:
Support Resistance
1.6545 " 1.6595
1.64 1.6658*
1.6324 1.6700*
1.62 1.6800*
1.6000* 1.69
USDJPY
Comment: Still thrashing around roughly between 95.00 and 97.00 although the daily ranges are shrinking a little. Expect more of the same today as the Yen looks for direction, where it should eventually take its lead from what other currencies are doing. Strategy: Attempt small shorts at 95.90/96.25; stop above 97.35. First target 95.00, adding to shorts below 94.40 for 94.00 and then 93.65. Direction of Trade: →
Support Resistance
95.35 " 96.01
95 96.65
94.55 97
94.42* 97.24*
93.55* 97.55
Daily Forex Technicals | Written by FXtechtrade
DOW JONES INDEX
Today's support: - 8634.17 and 8561.40(main), where a delay and correction may happen. Break of the latter will give 8495.80, where correction also can be. Then follows 8463.00. Be there a strong impulse, we would see 8426.22. Continuation will bring 8392.44.Today's resistance: - 8808.80 and 8834.25(main), where a delay and correction may happen. Break would bring 8858.37, where a correction may happen. Then follows 8887.46, where a delay and correction could also be. Be there a strong impulse, we'd see 8910.00. Continuation would bring 8927.28.