Daily Forex Technicals | Written by Mizuho Corporate Bank
EURUSD
Comment: Disappointing as we drop back to where we started yesterday and moving averages have crossed to negative. At best we see this as markets thrashing around, preparing to break out of recent ranges. Strategy: Attempt small longs at 1.3955; stop below 1.3800. Short term target 1.4100, then 1.4200 Direction of Trade: →↗
Chart Levels:
Support Resistance
1.3920 " 1.3976
1.3888 1.4013
1.385 1.4109
1.3826 1.4139
1.38 1.423
GBPUSD
Comment: Balking at the top of the 'triangle/pennant' as it goes it pretty much alone and hampered by the Swiss National Bank's intervention. It does however add weight to our view that Cable is trying to break higher out of recent consolidation. A weekly close above 1.6600 is needed to take bullish momentum back up to the very strong levels of early June. Strategy: Attempt small longs at 1.6435, adding to 1.6300; stop below 1.6080. First target 1.6500, then 1.6600 Direction of Trade: →↗
Chart Levels:
Support Resistance
1.6415 " 1.635
1.6369 1.6507
1.6209 1.6562
1.6187 1.6622
1.612 1.6664
USDJPY
Comment: Bouncing to the 26-day moving average and holding below the Ichimoku 'cloud'. We expect prices to stall here this morning and then drift lower late today and Friday. Note that open interest is lower than it has been in at least five years.
Strategy: Sell at 96.20; stop above 97.35. First target 95.50, then 95.00
Direction of Trade: →↘Chart Levels:
Support Resistance
96.00 " 96.36
95.5 96.55
95 96.80*
94.88 97.27*
94.44 97.65
Daily Forex Technicals | Written by India Forex
Rupee : The markets are currently holding slightly bearish bias . Breaking of 48.90 on the upside would confirmation of further weakness towards 49.50 and 49.95 . On the downside 48.00 levels is holding support. Incase we see the levels of 48.00 breaking we need to reconsider our weakness. Bearish (USD/INR : 48.50)
Gold :Gold is clearly bearish since its holding below its daily trend at $960. Our short positions initiated in 935 dollars are still on targeting below 900 dollars. (Gold- $934.43). Bearish
Dollar Index :DX bounced back from 79.56 levels yesterday 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- 80.75) Bullish
Daily Forex Technicals | Written by FXtechtrade
DOW JONES INDEX
Today's support: - 8357.46 and 8233.70(main), where a delay and correction may happen. Break of the latter will give 8187.19, where correction also can be. Then follows 8118.68. Be there a strong impulse, we would see 8100.00. Continuation will bring 8080.31.Today's resistance: - 8339.06, 8381.28 and 8426.26(main), where a delay and correction may happen. Break would bring 8461.30, where a correction may happen. Then follows 8500.00, where a delay and correction could also be. Be there a strong impulse, we'd see 8562.26. Continuation would bring 8597.80 and 8628.75.
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