Technical Major Currencies Report, Friday, December 05, 2008

EURO

After the pair declined to the targets around 1.2550 id did after that indulge in a strong upside wave that took it back to trade mostly above 1.2750 to reach the 38.2% correction at 1.2830; the pair is trading now positively as the possibility for more upside moves is seen yet we witnessed high volatility and fluctuations this week and is still applicable for today for that the levels at 1.2725-50 is the marginal intraday barrier for as long as the pair is trading above the upside remains valid.
The trading range is among the key resistance level at 1.3035 and the key support level at 1.2515.
The general trend is to the downside as far as 1.5080 remains intact; targets are set at 1.2340 and 1.2225.

Support 1.2750 1.2725 1.2700 1.2685 1.2575
Resistance 1.2785 1.2830 1.2860 1.2885 1.2940
Recommendation Buy euro above 1.2725 with targets interlude at 1.2800 and 1.2830, stop loss below 1.2665

GBP-USD Market should hold major support at 1.4379 before rising towards 1.4840 or even 1.4999 limit.
USD-JPY Overall structure is bearish. Decelerating momentum could attract it towards supports at 91.96 or 91.71. Major support is clustered around 91.16 limit.
USD-CHF There is bearish potential for a fall to 1.1856 while 1.2023 - 1.2072 resist. After this fall a recovery up to 1.2072 or 1.2120 is expected.

Technical Major Currencies Report, Thursday, December 04, 2008

SOORY guy for late update..2day really bz n one hole nite didn't sleep bcoz hv soem critical post..huhuhu here the latest update today...Enjoy ur reading...:))

EURO

More downside pressures are seen for the pair even with the incline it managed in the early Asian session as today we can notice the strength of the 1.2750 resistance which was capable of creating a downside pattern and trading below this level will send the pair south towards 1.2620 at least and might reattempt 1.2575; meanwhile breaching 1.2750 will validate the short term upside trend again for the pair.
The trading range is among the key resistance level at 1.2885 and the key support level at 1.2375.
The general trend is to the downside as far as 1.5080 remains intact; targets are set at 1.2340 and 1.2225.

Support 1.2620 1.2575 1.2560 1.2515 1.2465
Resistance 1.2685 1.2725 1.2750 1.2785 1.2830
Recommendation Sell euro below 1.2685 with targets interlude at 1.2620 and 1.2575, stop loss above 1.2765

GBP-USD One more dip to 1.4655 is likely followed by a grind higher to above 1.4859. After which it can resume his downtrend.
USD-JPY It looks set for gains to above 93.77. Supports at 92.92 and 93.15. A break of 92.68 will damage this bullish structure.
USD-CHF Resistances lie around 1.2131 and 1.2222. It should test lower towards 1.204 zone. A clear break of 1.2059 would be bearish.

Technical Major Currencies Report,Wednesday December 3, 2008

EURO

As expected the euro head to the upside in a correctional move, yet today we can see a downside pattern over intraday basis where the 61.8% represents the neckline for the model and for that the downside move is expected as far as trading is below 1.2675, from another side breaching 1.2730 with hourly closing above might help the euro move to the upside for a while.
The trading range is among the key resistance level at 1.2820 and the key support level at 1.2360.
The general trend is to the downside as far as 1.5080 remains intact; targets are set at 1.2340 and 1.2225.

Support 1.2675 1.2645 1.2635 1.2575 1.2540
Resistance 1.2725 1.2750 1.2790 1.2800 1.2820
Recommendation Sell euro below 1.2700 with targets at 1.2635 and 1.2575, stop loss above 1.2759

GBP-USD It may meet resistance in 1.4917 - 1.4921 zone for a drift down to below 1.4628 zone.
USD-JPY It may meet resistance in 93.18 - 93.21 zone for a drift down to below 92.03 zone.
USD-CHF It should test 1.2098 area after which a sell off down to 1.2007 or extended to 1.195 area is expected.

Tuesday December 2, 2008

EURO

The downside wave is still undergoing for the euro against the dollar that prevailed from yesterday and as we can see the pair is trading above the 76.4% correction at 1.2575 and positive divergence on the RSI is seen which shows the upside move is approaching, meanwhile Stochastic is reflecting the need for further downside move to gather momentum; the pair's movement might be biased to the downside temporarily as we expect an upside move as far as 1.2575 remains intact while further support is seen at 1.2530.
The trading range is among the key resistance level at 1.2840 and the key support level at 1.2370.
The general trend is to the downside as far as 1.5080 remains intact; targets are set at 1.2340 and 1.2225.

Support 1.2575 1.2540 1.2530 1.2500 1.2450
Resistance 1.2635 1.2645 1.2685 1.2750 1.2790
Recommendation Buy euro cautiously above 1.2580 with targets at 1.2735, stop loss with hourly closing below 1.2500

GBP-USD Market should not go lower than 1.4636. After this move down it should go up to 1.4847 - 1.5034 area.
USD-JPY Market should meet resistance at 93.94. We expect then an extended move down to 92.51 -90.94 area.
USD-CHF While above 1.2039 - 1.2 zone a corrective upmove could test 1.2106 or 1.2134. After which it should resume its downtrend.

Monday December 1, 2008

EURO


The euro versus the dollar declined in the awaited correctional wave to test the major support levels which have formed to acquire the pair with upside momentum as the upside signals are clear, if the support level at 1.2650 remains intact will be a positive signal for the upside move expected today while the short term upside wave is still intact and steady with continued trading above 1.2445 while closing on a daily basis below this level reinitiates the downside wave.
The trading range is among the key resistance level at 1.2985 and the key support level at 1.2385.
The general trend is to the downside as far as 1.5080 remains intact; targets are set at 1.2340 and 1.2225.

Support 1.2655 1.2610 1.2525 1.2490 1.2445
Resistance 1.2735 1.2785 1.2820 1.2850 1.2920
Recommendation Buy euro above 1.2655 with targets at 1.2735, stop loss with hourly closing below 1.2610

EUR-USD Overall structure is bearish. Decelerating momentum could attract it towards supports at 1.2646 or 1.2578. Major support is clustered around 1.2498 limit.
GBP-USD It should be subject to more sell off towards 1.5296 or 1.5184. Corrective upward swings should face resistance around 1.5516 area. A break of 1.5522 is bullish.
USD-JPY Market looks set for gains towards 95.81 or above in extension. Dips should find support at 95.48 - 95.36 zone.
USD-CHF Uptrend is still intact in a triangle configuration. It should continue to rally to 1.2182 or 1.2339 if support around 1.2100 hold. After which a pullback to 1.2100 - 1.2050 zone is possible.