Posts Tagged “Analysis”
The sharp retreat from 88.05 to 77.10 earlier signals a temporary top has been formed at 88.05 and as renewed selling interest emerged at 84.75, the selloff from there suggests another leg of decline is underway for retest of 77.10, break there would extend weakness to previous chart support at 76.25. View full post on [...]
After some hesitant movements, Pound/Dollar continued decreasing on Tuesday, in line with the negative Interbank sentiment at nearly -68%. The Cable depreciated yesterday from 1.4509 to 1.4275, closing the day at 1.4332. Today Sterling has recorded partial correction, and weakening is expected to continue. First resistance is yesterday’s top at 1.4509. Break above it should [...]
Despite early brief rise to 1.6917, as the British pound met renewed selling there and has retreated sharply from there, retaining our bearish count that wave ii correction from 1.6118 has ended at 1.7113 and break of support at 1.6092 would indicate wave iii of is unfolding and extend weakness to 1.6000. View full post [...]
EUR/USD is in a downtrend, after peaking at 1.5146 (Nov.25,2009). Technical indicators are descending, and trading is situated below the 50- and 200-Day SMA, currently projected at 1.3458 and 1.4206. View full post on Forex Daily Technical Reports
As the greenback has moved higher again after finding renewed buying interest at indicated support at 1.0925, retaining our bullish count that recent upmove is still in progress and gain to 1.1329 (50% projection of 1.0435-1.1245 measuring from 1.0924) is likely, however, reckon upside would be limited to 1.1386 (61.8% Fibonacci retracement of 1.2298 to [...]
Despite early rebound to 122.29, as the single currency met renewed selling interest there and has continued to move lower throughout this week, suggesting the rebound from 110.49 has possibly ended there and bearishness remains for weakness to 114.00, then 113.00, however, break of recent low at 110.49 is needed to confirm and signal the [...]
EUR/GBP Longer term bias is neutral for the pair. Building bullish momentum after rebounding from 0.8430 support. Intraday: Unable to break below active strong long term support in 0.8400/30. Next upside target around 0.8650-0.8700. View full post on Forex Daily Technical Reports
Dollar/Yen traded with an increase on Wednesday, in converse the Interbank sentiment at nearly -10%. Yesterday the currency couple appreciated from 93.49 to 93.27, closing the day at 93.26. Today the currency couple continued climbing to 93.63, from where is turned downwards, indicating uncertain direction. Break above the nearest 93.63 resistance and today’s top would [...]
Despite last week’s rally to 1.0750, the greenback ran into heavy offers just below previous resistance at 1.0781 and retreated sharply from there, dampening our bullishness and as price is still under pressure, weakness to 1.0000/10 cannot be ruled out, however, as long as recent low at 0.9931 holds, we are keeping our count that [...]