EURUSD
Comment: Endlessly dreary as we consolidate randomly in a relatively narrow range below the increasingly important 1.4200 level. Until we get a weekly close above here we shall have to allow for yet more random consolidation within the recent range.Strategy: Attempt longs at 1.3975; stop below 1.3900. Short term target 1.4100, then 1.4200. Direction of Trade: →Chart Levels:
Support Resistance
1.3952 " 1.4
1.3927 1.4045
1.3875 1.41
1.3825 1.4178/1.4202*
1.3800* 1.423
GBPUSD
Comment: Looking for direction while trading above an increasingly large, upward-sloping Ichimoku 'cloud'. A weekly close clearly above 1.6500 should add to current strong bullish momentum, hopefully with a whole host of currencies pulling in the same direction. Strategy: Attempt small longs at 1.6285; stop below 1.6175. First target 1.6550/1.6600. Direction of Trade: → Chart Levels:
Support Resistance
1.6275 " 1.6488
1.6259 1.6605
1.6209 1.6664
1.6187* 1.6745*
1.6125 1.68
USDJPY
Comment: Consolidating neatly below the lower edge of the Ichimoku 'cloud' and the moving averages, above trendline support. Hopefully some time this week we will see a re-test of recent lows at 95.00 and then the increasingly important 94.00 area.
Strategy: Attempt shorts at 95.50, adding to 96.00; stop well above 96.25. First target 95.00/94.88, then 94.00. Direction of Trade: →Chart Levels:
Support Resistance
95.24 " 95.8
95 96.25
94.88 96.89
94.44* 97.00*
94 97.25
Daily Forex Technicals | Written by India Forex
Rupee : Rupee should be able to stay above 48.35 post budget to remain bearish vis-a-vis dollar . It has not weakenend much as compared to the other currencies like (euro , pound). Neutral to Bearish.(USD/INR : 47.95)
Euro : The EURUSD had a moderate bearish momentum on Friday. On h4 chart we can see that the trendline support has been broken to the downside. Surely we do not have significant movement so far as the pair has been showing no clear direction in the last several weeks but this fact should lead us into more downside pressure testing 1.3750 key level area. Immediate resistance is seen at 1.4050.Stay bearish below 1.3950. (Eur/Usd:1.3985)
Sterling : The GBPUSD had a moderate bearish momentum on Friday. The pair bottomed at 1.6302 and closed at 1.6321. The trendline in the 4hrly charts have broken to the downside and it should keep the downside pressure testing 1.6180 key level area. Break below that area should trigger further bearish scenario. Immediate resistance is seen at 1.6350 followed by 1.6425. (Gbp/Usd: 1.6290) Bearish
Yen : Yen is short term bullish could head towards 92 level provided dollar maintains strength across board followed by risk aversion.(USD/JPY : 95.45) Yen is relatively strong against dollar
Aud : Remains bearish overall below 0.8050. 2 closings above 0.8100 would negate the view. Corrections in commodity prices is still expected across. Bearish (Aud/Usd: 0.7970)
Gold : Gold was unable to hold above its trendline resistance of 943 dollars. Still holding bearishness below 943 (Gold- $930.70). 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- 80.22) Bullish
Daily Forex Technicals | Written by FXtechtrade
DOW JONES INDEX
Today's support: - 8280.23 and 8247.22(main), where a delay and correction may happen. Break of the latter will give 8224.00, where correction also can be. Then follows 8185.78. Be there a strong impulse, we would see 8148.62. Continuation will bring 8118.50 and 8100.00. Today's resistance: - 8376.18, 8417.22 and 8462.80(main), where a delay and correction may happen. Break would bring 8503.10, where a correction may happen. Then follows 8538.70, where a delay and correction could also be. Be there a strong impulse, we'd see 8551.50. Continuation would bring 8562.26.
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