Daily Forex Technicals | Written by India Forex
EURO : Euro has taken a strong 21 days EMA support in the weekly charts and holding below the 100 day EMA in daily charts. Break of 1.46 would target 1.42 levels in Euro. Bias still maintains bearish and shorts close to 1.4720 can be taken for target 1.46 and lower. (EURUSD - 1.4645) Bearish.
GBP : Cable is maintaining its crucial support again at 1.62 levels. Currently it has been trading in a thin range but still looks bearish in near term. A break below 1.62 levels would target 1.5850 (weekly lower Bollinger) levels soon. It is important that 1.62 is a very strong support of the long term weekly trendline.Shorts close to 1.6380 levels can be done targeting 1.62 support again. (GBPUSD- 1.6305) Bearish.
Yen : The JPY looks to be range-bound today between 89 levels on the higher side and 88.35 levels on the lower side. A break of the 89 levels can lead it to test the next important resistance of 89.40(55 daily EMA). Bias for the yen stays bearish for short term targeting 90 plus. (USDJPY- 88.88)Neutral.
AUD : Aud is trading below the weekly trendline resistance and we are looking at 0.8800 levels soon. Shorts at 0.9150- 0.9200 levels can be initiated for 200 pips.(AUDUSD - 0.9108) Neutral to Bearish.
Gold : Gold's fall from 1227.5 extended further to as low as 1110.2 last week and the break of 1130.1 support, as well as the sustained trading below the near term channel, indicates that rise from 931.3 has likely made a top already. Initial bias will remain on the downside this week as long as 1148.4 resistances hold. Further decline should be seen to 50% retracement of 931.3 to 1227.5 at 1079.4 next. On the upside, above 1148.4 will turn intraday bias neutral and bring recovery. Shorts close to 1132-1140 should be initiated for 20-30 dollars.(Gold - $1125) Neutral to Bearish.
Dollar index :DI retreats to 76.25 earlier yesterday on dubai world bailout news but overall stays bearish. The greenback is also supported by crude oil's weakness as it hovers below 70 level while Gold lacks any strength for a meaningful rebound. While some more sideway consolidations could be seen in the US session today, dollar index maintains strong this week targeting 77.5 plus. (DI – 76.35) Neutral
Daily Forex Technicals | Written by FXtechtrade
EUR/USD
Today's support: - 1.4602 and 1.4584(main), where correction is possible. Break would give 1.4538, where correction also may be. Then follows 1.4520. Break of the latter would result in 1.4496. If a strong impulse, we would see 1.4462. Continuation will give 1.4427 and 1.4400. Today's resistance: - 1.4700 and 1.4767(main). Break would give 1.4784, where a correction is possible. Then goes 1.4853. Break of the latter would result in 1.4896. If a strong impulse, we'd see 1.4917. Continuation will give 1.4943.
USD/JPY
Today's support: - 88.24, 87.98 and 87.70(main). Break would bring 87.57, where correction is possible. Then 87.40, where a correction may also happen. Break of the latter will give 87.26. If a strong impulse, we would see 86.92. Continuation would give 86.70. Today's resistance: - 89.13 and 89.32(main), where a correction may happen. Break would bring 89.66, where also a correction may be. Then 90.03. If a strong impulse, we would see 90.58. Continuation will give 90.96.
DOW JONES INDEX
Today's support: - 10428.72 and 10394.70(main), where a delay and correction may happen. Break of the latter will give 10366.87, where correction also can be. Then follows 10348.28. Be there a strong impulse, we would see 10322.20. Continuation will bring 10295.60 and 10260.00. Today's resistance: - 10528.42 and 10553.00(main), where a delay and correction may happen. Break would bring 10585.20, where a correction may happen. Then follows 10608.56, where a delay and correction could also be. Be there a strong impulse, we'd see 10622.44. Continuation would bring 10648.13.
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