On our way towards testing the 1.50 level where the pair will find several strong resistance yet we stell see tha tthe direction on the short term maintains enough bullish momentum as far as trading remains above the 1.4795 at the closing on the four hour chart where this level is the peak of the first wave that resulted in this bullish movement. We confirm that the medium term trend is still to the downside as long as daily closing is below 1.5380 which is the neckline for the downside trend that altered the direction from sideways with tendency to the upside to a sharp downfall. The trading range for today might extend among the support level at 1.4675 and the resistance level at 1.5015 The general trend remains to the downside as far as 1.5830 remains intact with targets at 1.4870 and 1.4340
Support
1.4855
1.4825
1.4795
1.4760
1.4675
Resistance
1.4890
1.4910
1.4960
1.5015
1.5080
Recommendation
Buy above 1.4835 with targets at 1.4955 and stop loss below 1.4760
gbp
The strong bullish momentum the pair has gathered from the 61.8% correctional level for the general upside trend around 1.8530 allowed the pound to breach the 1.8730 resistance. We see that the pair can further extend its gains towards the upside to reach the 1.89 level. The trading range for today might extend among the support level at 1.8615 and the resistance level at 1.8970 The general trend remains to the downside as far as 1.8970 remains intact with targets at 1.9485 and 1.8070
Support
1.8720
1.8700
1.8670
1.8615
1.8595
Resistance
1.8775
1.8890
1.8900
1.8920
1.8970
Recommendation
Buy the pair between 1.8700 and 1.8725 with targets at 1.8890 and stop loss below 1.8640
jpy
As the session in New York ended yesterday with the pair closing above 108.40, this restored confidence in the dollar that it hass the ability to gather bullish momentum on the medium term. Trading is consolodiated within the 38.2% correctional level at 1018.05 and the 23.6% at 109.10 for the upside channel that started on 16 July 2007 and ended on 15 August 2008. From here we see the possibility for the pair to ascend in the medium term yet the on the short term, prices will continue to fluctuate. The trading range for today might extend among the support level at 107.60 and the resistance level at 109.80 The general trend remains to the upside as far as 103.00 remains intact with targets at 111.00 and 113.24
Support
108.40
108.15
108.05
107.60
107.10
Resistance
108.95
109.10
109.40
109.80
110.40
Recommendation
...
chf
After the downside movements that we saw, today we see the pair trading below the 50 day moving average on the four hour chart. From here we expect further downside movements where the price is now targeting the key support level for the upside channel at 1.0785 - 1.0795 which is the 23.6% correction level for hte upside trend that started on 15 July 2008. The stochastic indicator is howind the pair being oversold yet this is just a sign for an intraday correction within the short term downside channel. Overall, movements will fluctuate with tendency to the downside. The trading range for today might extend among the support level at 1.0805 and the resistance level at 1.1030 The general trend remains to the upside as far as 1.0570 remains intact with targets at 1.1025 and 1.1455
Support
1.0830
1.0795
1.0745
1.0685
1.0590
Resistance
1.0900
1.0925
1.0960
1.1010
1.1050
Recommendation
Sell the pair below 1.0900 with targets at 1.0810 and stop loss above 1.0960
cad
Our targets have been completed yesterday as it reached the 1.0440 where today prices are slightly declining towards the fiboncci fan at 1.0405 as nothing will limit the movements until 1.0350. Signs show that the 1.0350 level was the point at which the sideways trend was altered to the upside on the medium term where from here we see the downside movements on the short term is coming to an end as the pair nears the support levels on the medium term upside channel. Today we believe trading to fluctuate as the short term bearish movements are combined with the medium term support levels as the general trend for today will be downwars targeting 1.0405 at first and then the support 1.0365 - 1.0350. The trading range for today might extend among the support level at 1.0275 and the resistance level at 1.0665 The general trend remains to the upside as far as 1.5830 remains intact with targets at 1.0825 and 1.1000
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