Get Adobe Flash player
 
Get Adobe Flash player

Members login

Technical Major Currencies

Written by article default Monday, 21 February 2011 14:45

Euro

Midday Report

EUR

The pair is trading within a narrow range with a minor bullish bias as it approaches the critical resistance 1.3715. No notable changes are witnessed on our morning weekly scenario, which will remain valid if stability is above 1.3595.

The trading range for today is among the key support at 1.3425 and the key resistance at 1.3980.

The short term trend is to the upside as far as the daily closing is above 1.2795 remains intact with targets at 1.5135.

Weekly Report



Support 1.3595 1.3525 1.3455 1.3425 1.3365
Resistance 1.3715 1.3785 1.3825 1.3860 1.3890
Recommendation Based on the charts and explanations above our opinion is buying the pair with the four hour closing above 1.3715 targeting 1.3980 and stop loss below 1.3595, might be appropriate.


Great British Pound (GBP)

Midday Report

GBP

The pair is fluctuating within a sideways range according to the image above, while trading have carried the pair to surpass the upside channel’s support level that is considered a temporary breach according to weak trading. Stochastic is unloading the negative momentum over four hour basis, which encourages us to hold onto the suggested weekly scenario.

The trading range for today is among the key support at 1.6070 and the key resistance at 1.6500.

The short term trend is to the upside as far as 1.5315 remains intact with targets at 1.7000.

Weekly Report



Support 1.6210 1.6125 1.6100 1.6070 1.5990
Resistance 1.6275 1.6345 1.6415 1.6450 1.6500
Recommendation Our weekly expectations remain valid.


Japanese Yen (JPY)

Midday Report

JPY

The pair has been fluctuating since this morning around the SMA 50, while the positive momentum is still evident. We await for stability on the key resistance 83.40 before heading towards activating the suggested morning scenario that will prevail as long as the daily closing is below the highlighted level.

The trading range for today is among the key support at 80.35 and the key resistance at 84.25.

The short term trend is to the downside as far as 89.35 remains intact with targets at 77.70.
Weekly Report


Support 82.50 82.20 81.85 81.40 80.80
Resistance 83.40 83.70 84.25 85.00 85.95
Recommendation Based on the charts and explanations above our opinion is selling the pair around 83.40 targeting 81.40 and stop loss above 84.25, might be appropriate.


Swiss Franc (CHF)

Midday Report

CHF

The pair is trading with a slight upside bias since this morning, in an attempt to retest 0.9525 and support the current positivity on momentum indicators. Expectations remain valid, while noting the breach of 0.9525 could postpone the bearishness.

The trading range for today is among the key support at 0.9200 and the key resistance at 0.9620.

The short term trend is to the downside as far as 1.0330 remains intact with targets at 0.8000.
Weekly Report


Support 0.9450 0.9365 0.9330 0.9270 0.9200
Resistance 0.9525 0.9575 0.9620 0.9690 0.9750
Recommendation Based on the charts and explanations above our opinion is selling the pair around 0.9525 targeting 0.9330 and stop loss above 0.9620, might be appropriate.


Canadian Dollar (CAD)

Midday Report

CAD

The pair continues trading around the sideways range support level 0.9840, keeping in mind low trading volumes due to the US Holiday. The suggested morning scenario will prevail as long as daily closing stability is below 0.9925.

The trading range for today is among the key support at 0.9600 and the key resistance at 1.0000.

The short term trend is to the upside as far as 1.0665 remains intact with targets at 0.9000.
Weekly Report


Support 0.9840 0.9815 0.9750 0.9700 0.9650
Resistance 0.9925 1.0000 1.0055 1.0115 1.0200
Recommendation Based on the charts and explanations above our opinion is selling the pair around 0.9925 targeting 0.9700 and stop loss above 1.0055, might be appropriate.