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FOREX TECHNICAL ANALYSIS

FOREX TECHNICAL ANALYSIS Major Currency PairsEUR/USD USD/JPY GBP/USD January 21, 2011Current level - 1.3526EUR/USD is in a downtrend, after peaking at 1.4283 (November 11, 2010). Technical indicators are descending, and trading is situated below the 50- and 200-Day SMA, currently projected at 1.3336 and 1.3067.The uptrend is intact, targeting 1.3642 and we feel that a reversal is possible around...

USD/JPY: (82.93) Retested Downfall line off 84.51

USD/JPY: (82.93) Retested Downfall line off 84.51 2011-01-21 08:13:24 ¬† EUR/USD: (1.356) Sharp rebound off 1.2860 (see graph) Support area at 1.3420/ .3411 (daily Short Term Moving Average‚ÜĎ/ daily envelope bottom), with next levels at 1.3396 (reaction low hourly), ahead of 1.3367/ .3357 (reaction lows hourly), and 1.3322 (break-up hourly + daily modified Alpha Beta trend bottom), where pause favored.If wrong, next levels at 1.3254/ .3243 (current week low/ reaction low...

EUR/USD remains in uptrend from 1.2874

EUR/USD remains in uptrend from 1.2874 2011-01-21 05:50:25     EUR/USD remains in uptrend from 1.2874; the pullback from 1.3537 is treated as consolidation of uptrend. Deeper turn down to 1.3300-1.3350 area to reach next cycle bottom on 4-hour chart is possible later today. Key support is at 1.3245, as long as this level holds, uptrend could be expected to resume and another rise towards 1.3800 could be seen after consolidation. ...

FOREX TECHNICAL ANALYSIS

FOREX TECHNICAL ANALYSIS 2011-01-20 13:01:44 Major Currency PairsEUR/USD USD/JPY GBP/USD January 20, 2011Current level - 1.3476EUR/USD is in a downfall, after peaking at 1.4283 (November 11, 2010). Technical indicators are descending, and trading is situated below the 50- and 200-Day SMA, currently projected at 1.3336 and 1.3067.Still in the consolidation pattern below 1.3539 and the overall bias remains harrasment for...

Daily Update of Forex: USD/NOK

Daily Update of Forex: USD/NOK 2011-01-20 10:32:46       USD/NOK has just completed the daily Triangle chart pattern identified by Auto chartist. This chart pattern continues the long-term down-trend visible on the daily and the weekly charts. The Quality of this Triangle is rated at the 5 bar level which is the result of the low Initial Trend value (1 bar) and the high Uniformity and Clarity of this chart pattern.Low Initial Trend reflects sideways price movement...

EUR/USD holds above 1.3418 barriers

EUR/USD holds above 1.3418 barriers 2011-01-20 07:42:40     EUR/USD bulls still manage to remain active above resistance 1.3418 barriers. Bulls looking strong, however lack of confidence can initiate downtrend movement below 1.3418 barriers. At the moment, 1.3418 prices is a significant barrier for sides, bears and bulls. Waiting action holds with buying possibilities. ...

Daily Forex and Dow Jones Recommended levels

Daily Forex and Dow Jones Recommended levels 2011-01-20 06:58:23     EUR/USD:Today’s support: - 1.3388, 1.3350 and 1.3313(main), where correction is possible. Break would give 1.3283, where correction also may be then follows 1.3252. Break of the latter would result in 1.3236. If a strong impulse, we would see 1.3210. Continuation will give 1.3186. Today’s resistance: - 1.3477(main). Break would give 1.3486, where a correction is possible then goes 1.3501. Break of the latter would lead...

GBP/USD may be forming a cycle bottom at 1.6058

GBP/USD may be forming a cycle bottom at 1.6058 2011-01-20 05:33:27     GBP/USD may be forming a cycle bottom at 1.6058 levels on 4-hour chart. Consolidation in a range between 1.5800 and 1.6058 would likely be seen in a couple of days. As long as 1.5800 levels holds, uptrend could be expected to resume and one more rise towards 1.6298 is still possible and a break above 1.6058 could signal resumption of uptrend. ...

Daily Forex and Dow Jones Recommended levels

Daily Forex and Dow Jones Recommended levels 2011-01-19 13:10:27     EUR/USDToday’s support: - 1.3350 and 1.3313(main), where correction is possible. Break would give 1.3283, where correction also may be then follows 1.3252. Break of the latter would result in 1.3236. If a strong impulse, we would see 1.3210. Continuation will give 1.3186. Today’s resistance: - 1.3477(main). Break would give 1.3486, where a correction is possible then goes 1.3501. Break of the latter would lead to...

EUR/USD bulls have Improved

EUR/USD bulls have Improved 2011-01-19 12:12:58     Bears have managed to rebound back to support level at 1.3278; however they had issues to continue sliding downtrend. Support barrier wasn't broken which initiated bulls’ site to recover and drive on top of the resistance 1.3418 barriers. Look for more buying options while candles remain active above this level, bulls can feel safe for now. ...

Canadian dollar reversed Violently

Canadian dollar reversed Violently 2011-01-19 07:05:58     The appetite for risk petered out in the US markets on Tuesday. The Canadian dollar, which had marked a fresh three-year high in Europe, reversed aggressively after the Bank of Canada signaled future interest rate increases are on hold because the local economic recovery is threatened by its strong currency and Europe’s fiscal crisis. The pound rallied further on inflationary concerns, which have been creeping up in other parts of the...

EUR/USD: (1.3317) Sharp bounce back off 1.2860

EUR/USD: (1.3317) Sharp bounce back off 1.2860 2011-01-19 06:01:05 ¬† ¬† Sharp rebound off 1.2860 and reproached key area of 1.3438/ .3500 (see graph). Support area at 1.3267/ .3243 (daily envelope bottom/ reaction low hourly), with next levels at 1.3220 / .3210 (break-up hourly/ weekly Short Term Moving Average‚ÜĎ + daily Long Term Moving Average‚ÜĎ), ahead of 1.3190 (daily Medium Term Moving Average‚ÜĎ) and 1.3179 (break-up hourly).1.3169/ .3145 = weekly envelope bottom/ break-up...

FOREX TECHNICAL ANALYSIS

FOREX TECHNICAL ANALYSIS 2011-01-18 12:51:33     Major Currency PairsEUR/USD USD/JPY GBP/USD January 18, 2011Current level - 1.3403EUR/USD is in a downtrend, after peaking at 1.4283 (November 11, 2010). Technical indicators are descending, and trading is situated below the 50- and 200-Day SMA, currently projected at 1.3336 and 1.3067.The consolidation pattern below 1.3459 has been completed at 1.3245 low and current bias is...

AUD-NZD Could Turn Bullish Again

AUD-NZD Could Turn Bullish Again 2011-01-18 11:30:03     The currencies of Australia and New Zealand have had a very interesting relationship lately. In the later part of 2010, the AUD-NZD rallied almost 900 pips, only to be followed by an over 600 pips sell off. These are large moves for this pair, especially considering that they happened during an only three months time span. This means that the volatility is high and likely to...

EUR/USD: (1.3317) Sharp rebound off 1.2860

EUR/USD: (1.3317) Sharp rebound off 1.2860 2011-01-18 09:54:13 ¬† ¬† Sharp rebound off 1.2860 and reproached key area of 1.3438/ .3500 (see graph).Support area at 1.3267/ .3243 (daily envelope bottom/ reaction low hourly), with next levels at 1.3220 / .3210 (break-up hourly/ weekly Short Term Moving Average‚ÜĎ + daily Long Term Moving Average‚ÜĎ), ahead of 1.3190 (daily Medium Term Moving Average‚ÜĎ) and 1.3179 (break-up hourly).1.3169/...

Daily Forex Update: EUR/NZD

Daily Forex Update: EUR/NZD 2011-01-18 07:45:34     EUR/NZD is moving down inside a very clear Down Channel chart pattern on the daily chart. Auto chartist rates the Quality of this chart pattern at the 5 bar level. the above average Uniformity (6 bars) and the high Clarity (8 bars) describe a well formed chart pattern developing smoothly in accordance with the prevailing daily and the weekly down trend. Low Initial Trend value reflects short-term sideways price movement that...

EUR/USD pulled back from 1.3456

EUR/USD pulled back from 1.3456 2011-01-18 05:54:00     Being contained by 1.3497 resistances, EUR/USD pulled back from 1.3456, suggesting that a cycle top is being formed on 4-hour chart. Range trading between 1.3200 and 1.3456 is expected in a couple of days. However, the fall is likely consolidation of uptrend from 1.2874, one more rise to re-test 1.3497 key resistance is still possible, a break above this level could indicate that the longer term downtrend from 1.4281 (Nov...

FOREX TECHNICAL ANALYSIS

FOREX TECHNICAL ANALYSIS 2011-01-17 12:51:14   Major Currency Pairs January 17, 2011Current level - 1.3259EUR/USD is in a downfall, after reaching at 1.4283 (November 11, 2010). Technical indicators are descending, and trading is situated below the 50- and 200-Day SMA, currently projected at 1.3336 and 1.3067.The pair has already entered a larger consolidation below 1.3459, targeting 1.3190 support areas. The intraday bias is negative with...

Weekly Market Analysis (January 10-14)

Weekly Market Analysis (January 10-14) 2011-01-17 11:19:48     The US Dollar dove against the EURO on a sudden improvement in EURO ZONE sovereign debt markets, but a sharp late week reversal suggests US Dollar bulls have not yet given up the fight. I have long argued that the month of January is often pivotal in setting the stage for medium term trends, and the fact that the EURO/US Dollar pair was unable to close above its earlier highs indicates...

EUR/USD narrow trading range continues

EUR/USD narrow trading range continues 2011-01-17 07:51:07     Resistance barrier is formed at 1.3418 price level, this considerable level holds bulls side from further climbing. Double top pattern is valid at the moment, according to recent bearish movements, while resistance level holds - another rebound back to 1.3210 is expected. Before bears can have a chance to reach 1.3210, bears need to breakout from a narrow trading range between 1.3330 and 1.3388 price levels. Waiting action is better...
 
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