Daily Forex Technicals | Written by ecPulse.com
EURO
The Euro versus Dollar pair continued to trade within tight ranges between 1.4170 and 1.4110 with gradual tendency to form a contraction triangle, which supports our outlook to the downside on the intraday basis targeting 1.3950. Trading below 1.4225 is a must, to maintain the expected decline for today.The trading range for today is among the key support at 1.3945 and the key resistance at 1.4450 The general trend is to the downside as far as 1.4720 remains intact with targets at 1.2120
Support: 1.4110, 1.4070, 1.4000, 1.3945, 1.3905
Resistance: 1.4175, 1.4225, 1.4275, 1.4330, 1.4385
Recommendation: Based on the charts and explanations above, our opinion is selling the pair from 1.4100 to 1.3945 and stop loss above 1.4175 might be appropriate.
GBP
The Cable attempted several times to retest the previously breached support level at 1.6500 yesterday, yet it failed to do so. This fluctuation resulted in the stochastic nearing overbought area, which supports our outlook to the downside on the intraday basis targeting 1.6335 and 1.6245 respectively, as far as 1.6530 remains intact.The trading range for today is among the key support at 1.6115 and the key resistance at 1.6770 The general trend is to the upside as far as 1.4840 remains intact with targets at 1.7100
Support: 1.6430, 1.6360, 1.6335, 1.6265, 1.6210
Resistance: 1.6505, 1.6570, 1.6605, 1.6685, 1.6740
Recommendation: Based on the charts and explanations above, our opinion is selling the pair from 1.6505 to 1.6335 and stop loss above 1.6590 might be appropriate
JPY
The USD/JPY pair declined yesterday, to return below the key resistance for the previously breached descending channel at 96.10, to keep the short term trend to the downside, especially after yesterday's closing below the mentioned level. We expect downside movements today targeting 94.05 and 93.15, but note that the pair is being oversold, as seen on the stochastic indicator, which may result in a slight correction to retest the 96.10 resistance level before reversing back to the downside. The 96.10 level must remain intact for the decline to prevail.The trading range for today is among the key support at 93.15 and the key resistance at 99.55
The general trend is to the downside as far 102.60 remains intact with targets at 84.95 and 82.60
Support: 94.60, 94.05, 93.70, 93.15, 92.75
Resistance: 96.10, 96.85, 97.30, 97.90, 98.55
Recommendation: Based on the charts and explanations above, our opinion is selling the pair from 95.95 to 94.05 and stop loss above 96.85 might be appropriate
CHF
The Dollar versus Swissy wasn't able to breach the key resistance at 1.0840, as it fluctuated heavily around the level with negative signs appearing on momentum indicators that may halt the awaited breach. We still believe the pair is to incline but all is needed is a four hour closing above the mentioned resistance, to open the way towards 1.1100. The 1.0710 must remain intact for the trend to remain to the upside. The trading range for today is among the key support at 1.0375 and the key resistance at 1.1100. The general trend is to the upside as far as 1.0570 remains intact with targets at 1.2245.
Support: 1.0810, 1.0775, 1.0710, 1.0665, 1.0570
Resistance: 1.0890, 1.0935, 1.0980, 1.1050, 1.1100
Recommendation: Based on the charts and explanations above, our opinion is buying the pair from 1.0900 to 1.1100 and stop loss below 1.0810 might be appropriate.
Daily Forex Technicals | Written by India Forex
Rupee: Rupee is expected to move close to 48.20-30 levels (slight weak) since dollar maintains momentum in international market.We would consider it as an opportunity to initiate short dollar positions.The Indian stocks has been relatively weak from the last few trading sessions. Please note if the dollar momentum continues and Indian stocks sell off pushes rupee above 48.60 we would consider medium term weakness to resume till then rupee maintains stronger bias. Neutral (USD/INR : 48.14).
Aud : Aud seems to be entering into correction mode lately .We have started witnessing sell off in commodity prices . It is bullish until we see a break below 0.7950. (AUD/USD -0.8245) In Correction Mode
Gold : Gold has also seen correction lately. Bullish only above 960 dollar otherwise rangebound. (Gold- $946.27). Rangebound
Dollar Index : The Dollar Index (basket against 6 currencies with EUR accounting for 57% of the basket) rebounded close to 77 levels. Expect retracement till 80 levels.Closing above 82 levels would change the bias of the index. (Dollar Index - 79.10) Neutral
Daily Forex Technicals | Written by FXtechtrade
DOW JONES INDEX
Today's support: - 9212.40 and 9202.50(main), where a delay and correction may happen. Break of the latter will give 9181.30, where correction also can be. Then follows 9154.46. Be there a strong impulse, we would see 9129.37. Continuation will bring 9113.50.
Today's resistance: - 9326.27, 9342.12 and 9360.00(main), where a delay and correction may happen. Break would bring 9387.72, where a correction may happen. Then follows 9413.44, where a delay and correction could also be. Be there a strong impulse, we'd see 9438.65. Continuation would bring 9450.00 and 9469.68.
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