Daily Forex Technicals | Written by India Forex
Rupee : Rupee had broken the trendline of 48.10. and staying below it since last 2 sessions. Technically the pair has returned its bullish stance after staying below 48.10 for 2 closings. Exporters may start booking their contracts near 47.80 to 48.00 levels (PARTIALLY). Caution : Budget euphoria could also have lead to a stronger rupee temporarily. A break of 48.35 on the upside would negate the bullish bias again. We have not got a clear direction on dollar internationally since the euro , pound are still stuck up in the range since last 17 trading sessions. Once we get a confirmation of dollar weakness/strength internationally against all asset classes direction of the rupee would be very clearer. Mildly Bullish.(USD/INR : 48.10)
Gold :Gold was unable to hold above 943 dollars though went till 945 dollars yesterday again in the US session. Still holding bearishness below 943 (Gold- $929.00). Neutral to Bearish.
Dollar Index : Dollar index extends the rebound from 79.56 and is set to take on 80.94. We're anticipating a break of 80.94 resistance to signal resumption of rise from 78.33, to be confirmed by break of 81.36/47 resistance zone. Further rally should be seen to next key resistance at 82.62 (38.2% retracement of 89.62 to 78.93 at 82.64). in such case. (DI- 80.10) Slight Bullish to Neutral.
Daily Forex Technicals | Written by Mizuho Corporate Bank
EURUSD
Comment:Media getting excited as the Euro manages is strongest close in a month. We remind that a weekly close above 1.4200 is the absolute minimum needed to confirm an important upside break. Until then we shall have to allow for yet more random consolidation within the recent range. Strategy: Attempt longs at 1.4115, adding to 1.4000; stop below 1.3900. Short term target 1.4200, then 1.4300/1.4339.Direction of Trade: →Chart Levels:
Support Resistance
1.4100 " 1.4155
1.404 1.4178/1.4202*
1.4 1.423
1.398 1.4269
1.3800* 1.4339**
GBPUSD
Comment: Taking a back seat as other currencies come to the fore. A weekly close clearly above 1.6500 should add to current strong bullish momentum.Strategy: Attempt small longs at 1.6440; stop below 1.6175. First target 1.6550/1.6600. Direction of Trade: →
Chart Levels:
Support Resistance
1.6430 " 1.65
1.6368 1.6605
1.6275 1.6664
1.6209 1.6745*
1.6187* 1.68
USDJPY
Comment: Disappointing as we rally into a relatively large Ichimoku 'cloud' and above moving averages. Monthly and quarterly closes are not significant meaning we shall have to allow for more messy consolidation this week.Strategy: Attempt small shorts at 96.70; stop above 97.40. First target 96.00 then 95.00.Direction of Trade: →↘Chart Levels:
Support Resistance
96.17 " 96.58
95.95 97
95.5 97.27/97.37*
95.3 97.65
95 98
Daily Forex Technicals | Written by FXtechtrade
DOW JONES INDEX
Today's support: - 8460.00, 8428.24, 8402.80 and 8370.00(main), where a delay and correction may happen. Break of the latter will give 8326.11, where correction also can be. Then follows 8280.23. Be there a strong impulse, we would see 8247.22. Continuation will bring 8224.00 and 8185.78. Today's resistance: - 8538.70 and 8551.50(main), where a delay and correction may happen. Break would bring 8562.26, where a correction may happen. Then follows 8577.11, where a delay and correction could also be. Be there a strong impulse, we'd see 8589.37. Continuation would bring 8611.87 and 8637.88.
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