Members login
Technical Cross
Written by article default Tuesday, 13 September 2011 08:01
Morning Report
 |
The pair is trading within a narrow range since last night maintaining stability above 122.00, where Stochastic is gradually loosing positivity. The 50 EMA continues to pressure intraday trading negatively; thus, we expect a downside intraday move for today targeting mainly 120.00. The downside move requires stability below 123.30.
The trading range for the day is expected among the key support at 120.00 and the key resistance at 123.55.
The short term trend is to the downside as far as 150.00 remains intact with targets at 112.00.
| Support | 122.00 | 121.25 | 120.50 | 119.80 | 118.85 |
|
|
|||||
| Resistance | 122.20 | 123.30 | 124.00 | 124.65 | 125.30 |
|
|
|||||
| Recommendation | Based on the charts and explanations above we recommend selling the pair with hourly closing below 122.00 targeting 120.00 and stop loss above 123.30 might be appropriate. | ||||
Euro vs. Japanese Yen (EUR / JPY)
Morning Report
 |
The pair is trading within a narrow range and with a slight upside bias that is pulling the pair towards a retest of the breached pivotal support at 106.20. Stochastic is overbought, therefore, we hold onto our bearish expectations for today targeting initially 103.00 and 102.05 and requires steady daily closing below 106.20.
The trading range for the day is expected among the key support at 99.80 and the key resistance at 107.20.
The short term trend is to the downside as far as 123.30 remains intact with targets at 94.80.
| Support | 105.05 | 104.25 | 103.50 | 102.85 | 102.05 |
|
|
|||||
| Resistance | 105.60 | 106.20 | 107.20 | 108.05 | 108.95 |
|
|
|||||
| Recommendation | Based on the charts and explanations above we recommend selling the pair around 106.20 targeting 104.25 and stop loss with four-hour closing above 107.20 may be appropriate. | ||||
Euro vs. Great British Pound (EUR / GBP)
Morning Report
 |
The pair ended yesterday above the support of the main ascending channel shown on image, hinting the breach was a false outbreak. Until now trading remains below the previously breached pivotal support at 0.8645 which is a neckline for a bearish technical pattern. Therefore, we will continue to monitor the pair around the sensitive levels among 0.8580 support and 0.8645 resistance to determine the upcoming direction for the pair, breaching the aforementioned support will confirm the effect the bearish pattern, while on the other hand trading above 0.8645 will signal the invalidation of the pattern.
The trading range for the week is expected among the key support at 0.8400 and the key resistance at 0.8885.
The short term trend is to the upside as far as 0.8165 remains intact with targets at 1.0370.
| Support | 0.8580 | 0.8500 | 0.8455 | 0.8400 | 0.8300 |
|
|
|||||
| Resistance | 0.8645 | 0.8705 | 0.8740 | 0.8775 | 0.8885 |
|
|
|||||
| Recommendation | Based on the charts and explanations above we recommend buying the pair with hourly closing above 0.8645 targeting 0.8770 and stop loss with hourly closing below 0.8580 OR selling the pair with hourly closing below 0.8580 targeting 0.8455 and stop loss with hourly closing above 0.8645. | ||||
|
||||||||||||