Daily Technical Analysis Forex & DJIA

Daily Forex Technicals | Written by Mizuho Corporate Bank
EURUSD
Comment: Slow work as we consolidate above retracement support and yesterday's close above the 9-day moving average might increase bullish pressure. A weekly close above 1.4200 will probably lead to another serious round of short-covering. Strategy: Buy at 1.4075, adding to 1.3945; stop well below 1.3900. Short term target 1.4150, then 1.4250 and this month's high at 1.4339.Direction of Trade: →↗ Chart Levels:
Support Resistance
1.4068 " 1.4145
1.3943 1.4178*
1.3839 1.42
1.3800* 1.425
1.3725 1.4339*
GBPUSD
Comment: Cable is just a hair's breath off this month's high at 1.6664, having retraced 38% of the massive declines of 2008. A weekly close above 1.6500 should keep bullish momentum close to a record high forcing many long term investors to re-think core positioning. Strategy: Attempt longs at 1.6560, adding to 1.6400; stop well below 1.6200. First target 1.6650 then 1.6800. Direction of Trade: →↗
Chart Levels:
Support Resistance
1.6519 " 1.6622
1.638 1.6664*
1.6295 1.6695**
1.62 1.68
1.6 1.69
USDJPY
Comment: Still trading either side of a thinning Ichimoku 'cloud', above moving averages which have just crossed to bullish, having traded in a broad band roughly between 94.00 and 100.00 since March. Expect yet more cautious random small swings today. Strategy: Attempt small shorts at 98.00, adding to 98.45; stop above 99.25. First target 97.50 then 97.00. Direction of Trade: →Chart Levels:
Support Resistance
97.47 " 98
97.25 98.45/98.58
97 98.7
96.65 98.85/99.00*
96.5 99.8
Mizuho Corporate Bank
Daily Forex Technicals | Written by FXtechtrade
DOW JONES INDEX
Today's support: -8724.32, 8673.70, 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: - 8786.30, 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.