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Euro/dollar
Euro/dollar rose to a new 5 1/2-month high on Thursday and this strength is in line with the positive medium-term outlook. Sideways trading trading should prevail through Friday. Initial resistance remains at 1.2978. Next big resistance is at 1.3070. Above 1.3125, distant resistance looms at 1.3300. Below 1.2915 the pair has support at 1.2855. A close below the strong 1.2795 level would signal a decline to 1.2750, but this is unlikely. Oscillators are rising. NEAR-TERM: Sideways MEDIUM-TERM: Bearish LONG-TERM: Bullish |
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EURUSD touched its target at 1.3125 as expected and currently is still present around that level. It's next target can be seen at 1.3192 level, break of which will lead EURUSD to 1.3500 level.
The only thing that stop EURUSD progress is the over-bought RSI condition of EURUSD in all charts and sooner or later we might see a sharp dip by EURUSD below 1.3050 level. The levels between 1.3000 and 1.3030 will be in focus for traders looking to buy EURUSD for a good trend move. Trade: Buy EURUSD @ 1.3032 for Profit Level @ 1.3132 and Stop Loss @ 1.2982 Target is at 1.3192 chart analysis here |
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Technical Analysis for Major Currencies
EURO/USD After big move that euro made last week we expect that euro needs to retrench toward the down side as a correction move. the technical indicators show euro in over bought area, hence we expect a correction move. The general trend is up as far as 1.2640 remain intact targets now at 1.3500 and 1.3200 target then at 1.3420. The key resistance will be at 1.3200 and the key support at 1.2900. Support: 1.3090, 1.3060, 1.3030, 1.3000, 1.2940 Resistance: 1.3135, 1.3155, 1.3175, 1.3200, 1.3225 Recommendation we expect selling euro below 1.3160 with a target at 1.3095 and stop loss above 1.3180 other pair ![]() |
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Recommendation on - USDJPY
Daily Trade Recommendation - USDJPY
USDJPY USDJPY had been trapped in a range bound trading for few days now and the same pattern might continue for some days. We can find the same range, i.e. between 116.50 and 115.50 stay for today and again short trades might be order of the day for USDJPY. RSI is just around 40 mark and currently will support trades in both directions. Trade: Sell USDJPY @ 116.45 for Profit Level @ 115.85 and Stop Loss @ 116.75 Target is at 115.51 chart analysis |
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Daily Trade Recommendation - USDJPY 01/12/2006
Daily Trade Recommendation - USDJPY
USDJPY 01/12/2006 USDJPY had been trapped in a range bound trading for few days now and the same pattern might continue for some days. We can find the same range, i.e. between 116.50 and 115.50 stay for today and again short trades might be order of the day for USDJPY. RSI is just around 40 mark and currently will support trades in both directions. Trade: Sell USDJPY @ 116.45 for Profit Level @ 115.85 and Stop Loss @ 116.75 Target is at 115.51 usd/jpy chart analysis |
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Trade Recommendation - USDJPY 04/12/2006
Daily Trade Recommendation - USDJPY
USDJPY USDJPY had been trapped in a range bound trading for few days now and the same pattern might continue for some days. We can find the same range, i.e. between 116.50 and 115.50 stay for today and again short trades might be order of the day for USDJPY. RSI is just around 40 mark and currently will support trades in both directions. Trade: Sell USDJPY @ 116.45 for Profit Level @ 115.85 and Stop Loss @ 116.75 Target is at 115.51 chart analysis |
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Daily Trade Recommendation - USDJPY
Daily Trade Recommendation - USDJPY
USDJPY Touched its target at 116.68 as predicted yesterday and will take a retracement rise from 114.68 towards 115.61 From that level USDJPY will resume its downward move again and 115.61 will be focus point for traders to sell USDJPY RSI is a bit on the lower side and will automatically open up after some rise towards 115.61 and then it will again make a move toward 114.68 level, break of which will take USDJPY below 114 level. Trade: Sell USDJPY @ 115.61 for Profit Level @ 115.91 and Stop Loss @ 115.01 Target is at 114.6 analysischart |
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Daily Trade Recommendation - USDJPY
Daily Trade Recommendation - USDJPY
USDJPY USDJPY seemed to stay between 115.23 and 114.38 levels today and aggressive traders will look to enter trade on any or both of levels. But the long-term trend is downward and therefore most traders will look to sell USDJPY on rise above 115 level for a dip below 114.50 level. RSI is a bit lower in daily charts still has enough space. In hourly charts RSI is around 50 and will support the move in both directions. We might see USDJPY take a rise from 114.50 level again. Trade: Sell USDJPY @ 115.23 for Profit Level @ 114.63 and Stop Loss @ 115.53 Target is at 114.38 chart analysis |
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Technical Analysis for Major Currencies
EURO/USD USD/JPY The Japanese yen moved up yesterday to stop at 115.30s resistance level since it couldn't brake out the 114.40s support level, which is critical support. Today we expect Japanese Yen to reach again to 114.40s support level. The general trend is supposed to be down so far. The key resistance for the Japanese yen will be at 119.60s and key support is at 114.30. Support: 114.80, 114.65, 114.43, 114.21, 113.94 Resistance: 115.05, 115.22, 115.48, 115.73, 115.94 Recommendation: we expect Selling USD/JPY below 115.05 with a target at 114.50 and stop loss above 115.65. Technical Analysis for the other Major Currencies |
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| Posted By | For | Type | Date | |
| Daily trade forex system » daily trade forex system | This thread | Refback | 01-29-2008 11:29 PM | |
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