EUR/USD
Today's support: - 1.3871, 1.3837 and 1.3792(main), where correction is possible. Break would give 1.3767, where correction also may be. Then follows 1.3719. Break of the latter would result in 1.3680. If a strong impulse, we would see 1.3663. Continuation will give 1.3635.Today's resistance: - 1.3997 and 1.4036(main). Break would give 1.4079, where a correction is possible. Then goes 1.4126. Break of the latter would result in 1.4153. If a strong impulse, we'd see 1.4176. Continuation will give 1.4220.
USD/JPY
Today's support: - 96.30, 95.82, 95.41 and 95.28(main). Break would bring 95.17, where correction is possible. Then 94.94, where a correction may also happen. Break of the latter will give 94.61. If a strong impulse, we would see 94.39. Continuation would give 94.13. Today's resistance: - 97.31 and 97.76(main), where a correction may happen. Break would bring 98.10, where also a correction may be. Then 98.33. If a strong impulse, we would see 98.58. Continuation will give 98.78 and 99.26.
DOW JONES INDEX
Today's support: - 8490.93(main), where a delay and correction may happen. Break of the latter will give 8479.68, 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: - 8562.30, 8606.26, 8645.40 and 8686.42(main), where a delay and correction may happen. Break would bring 8732.80, where a correction may happen. Then follows 8775.00, where a delay and correction could also be. Be there a strong impulse, we'd see 8814.63. Continuation would bring 8834.25 and 8842.00.
Daily Forex Technicals | Written by India Forex
Rupee : Rupee met our target of 48.32 as expected. It has lot of resistances post 48.32 levels still the bias does not change since we are expecting dollar strength in overseas markets. Stay cautious since the move above 48 could extend till 48.60-72 levels. Look at covering import payments at 48.05(USD/INR : 48.10). Short term bearish & Medium Term Bullish
Euro: Euro plunged around 1.38 levels (1.38 is an important support and the neckline of the amazing head and shoulder pattern) but bounced back taking resistance at 1.4000 levels and again dipped down to sub 1.39 levels in the closing of US session . It is still maintaining a range bound move with the downward bias and breaking of 1.38 on a closing basis would push the pair to 1.3450. Daily trendlines have been consistently broken. ONLY and ONLY if it manages to maintain 1.4040 then we might have to reconsider the downtrend. (Eur/Usd:1.3917). Bearish
Sterling :Cable made a kind of double top formation at 1.66 levels and still moving in quite a volatile fashion in last 3-4 days showing both sides movement.of 250 pips . It took support at 1.6200 levels thrice and gave a gigantic move in the late US Session. (21 day daily moving avg support).Incase it breaks 1.6175 which looks quite probable it may head quite deep down towards 1.58 and 1.55 below again. Stay cautious incase 1.6440 breaks and holds.(Gbp/Usd: 1.6352). Short term Bearish to Neutral
Yen :Yen pair is trading sideways confined between the cluster support of 94 levels and resistance of 99.55. We should not initiate positions until this wide range breaks on either side. (USD/JPY : 96.52) Range-bound
Australian Dollar :Aussie is also correcting due to fall in commodity prices across. Only and Only if the pair stays below .7650 we could say the bearish trend has started for AUD. (Aud/Usd: 0.8024). Short term neutral
Gold :Gold is clearly bearish since its holding below its daily trend at $960. We can look at accumulating short positions at $ 935 till $957 for targets below $900. Gold- $933.90). Bearish
Dollar Index : DX bounced back from 79 levels (as expected) and is currently trading above 80-mark. The chart is turning bullish since the downtrend line has been broken and market is holding above 80 levels. Till we see the levels above 80 the index holds bullish. (DI- 80.96) Neutral
Daily Forex Technicals | Written by Mizuho Corporate Bank
EURUSD
Commet: Nothing to add as we hover above the 'neckline' of a potential 'head-and-shoulders', between the moving averages. We remind that there is a high probability of this formation not going to plan as further out we see it as a process of trying to form a new interim low, probably somewhere between 1.3800 and 1.3600. Watch AUD, GBP, and NZD which are closer to a potential upside break. Strategy: Attempt small longs at 1.3935; stop well below 1.3740. Short term target 1.4050 Direction of Trade: → Chart Levels:
Support Resistance
1.3882 " 1.396
1.3872 1.3986
1.38 1.4002
1.3748 1.4050*
1.3600* 1.4178
GBPUSD
Comment: Incredible how neatly Cable is holding above the 9-day moving average, increasing the likelihood of a re-test of this month's high at 1.6664 even as early as the end of this week. Several other major currencies are behaving in a similar way lending support to our view that we are currently in the process of trying to form a new interim low setting up for more generalised US dollar weakness in Q3. Strategy: Attempt small longs at 1.6345; stop well below 1.6200. First target 1.6500, then 1.6600 and more long term.Direction of Trade: →Chart Levels:
Support Resistance
1.6300 " 1.6469
1.6210* 1.6507
1.6187 1.66
1.6 1.6622
1.594 1.6664*
USDJPY
Comment: Little to add as we hover around 95.65 as expected. Allow for more of the same today, where only a weekly close below 94.00 will add to downside pressure, something that is unlikely today. Strategy: Possibly attempt small shorts at 96.65/97.00; stop above 97.65. First target 95.65/95.50, re-selling on a sustained break below here for 94.00.Direction of Trade: →Chart Levels:
Support Resistance
96.38 " 96.78
96 97.05
95.51* 97.27
95 97.50*
94.44 97.88
No comments:
Post a Comment