|
Forex Daily Technical Reports
|
Technical analysis is a method of forecasting price movements by looking at purely market-generated data. Price data from a particular market is most commonly the type of information analyzed by a technician. The bottom line when utilizing any type of analytical method, technical or otherwise, is to stick to the basics, which are methodologies with a proven track record over a long period. After finding a trading system that works for you, the more esoteric fields of study can then be incorporated into your trading toolbox.
|
|
Daily Forex Technicals |
Written by Saxo Bank |
Feb 07 12 09:07 GMT
|
|
GBPUSD - For the third day in succession investors have failed to sustain any significant gains or losses with all trading consolidating within Wednesday's parameters (1.5694-1.5884), indecisive Inside Day's. Although investors enthusiasm to buy dips has resulted in the bias being mildly positive, a break of 1.5831 (trend of lower daily highs) is needed to confirm this bullish momentum. In view of these facts our call today is a Bullish Bias - Look for a break of 1.5831
|
|
Read more...
|
|
|
Daily Forex Technicals |
Written by Dukascopy Swiss FX Group |
Feb 07 12 08:57 GMT
|
|
Key resistance area for EUR/USD at 1.3250/80 is expected to halt near-term rallies. In case it is breached, further levels at 1.3436 and 1.3627 will be targeted by the pair. Dips should be limited by a support situated at 1.3000.
|
|
Read more...
|
|
Daily Forex Technicals |
Written by ZIFX.com |
Feb 07 12 08:56 GMT
|
|
On Monday Pound/Dollar traded within 110 pip range. The Cable appreciated from 1.5729 to 1.5842 yesterday, in line with the positive Interbank sentiment at nearly +45%, closing the day at 1.5815. Today the British Pound is trading quietly, with movements at the upper end of yesterday's range for the time being. On the 1 hour chart the upward channel has slowed down, while on the 3 hour chart the upward channel is on hold. First resistance is yesterday's peak at 1.5842. Break above it should extend the bullish movement further towards 1.5964. The nearest support level is yesterday's bottom at 1.5729. Going bellow it should extend British Pound's reduction further down towards next downward objective 1.5610. There are no major economic events for UK today. Quotes are moving just above the crossed 20 and 50 EMA on the 1 hour chart, indicating slim bullish pressure. The value of the RSI indicator is neutral and calm, MACD is positive and tranquil, while CCI has thinly crossed up the 100 line on the 1 hour chart, giving over all neutral signals.
|
|
Read more...
|
|
Daily Forex Technicals |
Written by ecPulse.com |
Feb 07 12 08:00 GMT
|
|
SMA 50 continued representing a hard technical obstacle that prevents the pair from collapsing as seen on the provided daily chart. We added Keltner channel to our graph where we can see how trading is stable below the middle line of the indicator. Meanwhile, Stochastic and OsMA remain negative; thus, we keep our bearish overview unchanged over intraday basis. A break below 1.3045 will trigger panic sell-off actions.
|
|
Read more...
|
|
Daily Forex Technicals |
Written by Varengold Bank |
Feb 07 12 07:36 GMT
|
|
Contrary to the expectations of many market experts, the Australian Central Bank did not cut its key interest rate to 4 percent from 4.25 percent and leading heads of the Reserve Bank expressed their optimism regarding a global economic recovery. As a result, the AUD experienced a boost and enforced against all of its 16 major currency counterparts. Therefore the AUD advanced 0.6 percent to 1.0791 against the USD among touching 1.0811 USD the strongest price within the last six months. Also versus the JPY, the AUD gained 0.7 percent and increased to 82.69. Simultaneously, the NZD benefited from the positive sentiments regarding economic growth and reaching the inflation target. It rallied 0.2 percent against the JPY and was at 63.95, while the USD dropped slightly to 0.8340 USD from 0.8337 USD the day before.
|
|
Read more...
|
|
Daily Forex Technicals |
Written by ecPulse.com |
Feb 07 12 07:17 GMT
|
|
The pair was able to settle on SMA 50 and then rebounded to the upside to resume trading within the ascending correctional channel shown above, where we expect the pair to extend the upside move over intraday basis, targeting mainly 23.6% Fibonacci correction at 122.25 and then 124.25. The negativity seen on momentum indicators could trigger some fluctuations; however, consolidation above 120.35 is necessary for the upside move to continue.
|
|
Read more...
|
|
Daily Forex Technicals |
Written by FX Instructor |
Feb 07 12 07:05 GMT
|
|
The EURUSD had another indecisive movement yesterday. Price attempted to push lower, bottomed at 1.3027 but further bearish pressure was rejected, closed higher at 1.3117. There are no changes in my technical outlook. The bias remains neutral in nearest term with potential range area between 1.3240 – 1.3000/25. We need a clear break from the range area to see clearer direction. Overall price is still in a bullish phase since bounced from 1.2625 and broke above the trend line resistance but need a clear break above 1.3240 to continue the bullish scenario. On the downside, a clear break and daily close below 1.3000 could stop the bullish phase testing 1.2930 probably lower. Aggressive intraday traders can still long around 1.3000/25 or short around 1.3240/50 with tight stop loss, taking advantage of this sideways condition.
|
|
Read more...
|
|
Daily Forex Technicals |
Written by FXTimes |
Feb 07 12 06:48 GMT
|
|
The Daily Chart of the AUD/NZD shows that the market had achieved a range breakout target at 1.2835 last week. This was also the pivot and high during Sept. 2011. A min-bounce occurred, but as we can see in the daily chart, the market is respecting the previous consolidation support and the 200 day simple moving average as resistance.
|
|
Read more...
|
|
Daily Forex Technicals |
Written by ZIFX.com |
Feb 07 12 06:40 GMT
|
|
On Monday Euro/Dollar decreased with 150 pips on prolonged Greek issue. The European currency depreciated from 1.3175 to 1.3027 yesterday, not matching the positive Interbank sentiment projection at over +1%, closing the day at 1.3128. This morning the Euro is trading quietly, moving within yesterday's range for now. On the 1 hour chart the upward channel is on hold, while on the 3 hour chart range trading has formed. Break above the nearest resistance and yesterday's top at 1.3175 may trigger further strengthening of the Euro. Going bellow yesterday's bottom and first support at 1.3027, however, would confirm continuation of the bearish trend, towards next objective downwards 1.2915. Today's focus is on Germany Industrial production, at 11 GMT. Quotes are moving in line with the 20 and bellow the 50 EMA on the 1 hour chart, indicating short term neutral and medium term bearish pressure. The value of the RSI indicator is positive and declining, MACD is neutral and calm, while CCI is in line with the 100 line on the 1 hour chart, giving overall all neutral signals.
|
|
Read more...
|
|
Daily Forex Technicals |
Written by FXtechtrade |
Feb 07 12 06:38 GMT
|
|
EUR/USD Today's support: - 1.3050, 1.3038, 1.3002 and 1.2974(main), where correction is possible. Break would give 1.2949, where correction also may be. Then follows 1.2907. Break of the latter would result in 1.2874. If a strong impulse, we would see 1.2857. Continuation will give 1.2831.
|
|
Read more...
|
|
Daily Forex Technicals |
Written by HY Markets |
Feb 07 12 05:30 GMT
|
|
The EURO closed slightly lower on Monday as it extends the trading range of the past seven days. The highrange close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI remain neutral to bullish signalling that sideways to higher prices are possible nearterm. If it extends the rally off January's low, the 50% retracement level of the OctoberJanuary decline crossing is the next upside target.
|
|
Read more...
|
|
Daily Forex Technicals |
Written by Kshitij Consultancy Services |
Feb 07 12 03:49 GMT
|
|
The Euro (1.3114) remains ranged between 1.3000-3200. Dollar-Yen (76.70) is ranged narrowly between 76.50-80 and is trying to move up higher. Strong Resistance in 77.00-50 region could restrict the rise in the Dollar-Yen. The Euro-Yen Cross (100.56) is getting good Support near its 21-DMA (99.68). The 55-DMA (101.07) will be an important Resistance to be watched and a break above it can trigger further rise to 103.
|
|
Read more...
|
|
Daily Forex Technicals |
Written by FX-Forecaster |
Feb 07 12 03:15 GMT
|
|
This took the alternative outlook yesterday, dipping 2 points below the 1.5731 support. Ideally, this should mean that we see the move higher through 1.5841 and above 1.5882 to reach 1.5899 for a pullback that remains above 1.5830 to then see the upside follow-through to the 1.5933-40 target. From there a deeper correction can ensue. While not expected there is a higher projection at 1.6002 so ensure any bearish set ups are valid and strong.
|
|
Read more...
|
|
Daily Forex Technicals |
Written by Compass Global Markets |
Feb 07 12 03:03 GMT
|
|
AUD/USD was initial taken lower during Monday morning trade by the developments regarding the next round of funding for the Greek's, which looks a little shaky and then the weaker than market expected Australian Retail Sales numbers. We were leading to the downside on the number due to the heavy discounting from the department and retail stores leading into xmas, which is something which hasn't been seen for years. Anyway, the price continued to remain heavy during the European session and managed to find a low of 1.0680. The support we reported yesterday at 1.0675 was more than enough to hold up a slow moving market. The price recovered during the US session on nothing much than position squaring and a better bid S&P500! Today will be all about the RBA with almost every economist picking a 25bp cut, whilst we favour the cut we are leaning towards the almost unheard of move by the RBA of 50bps. We have changed our bias ahead of time as we like the look of the charts for a return towards 1.0600 even without the RBA.
|
|
Read more...
|
|
Daily Forex Technicals |
Written by Autochartist |
Feb 07 12 02:56 GMT
|
|
EUR/HUF has recently completed the high Quality extended Down Channel cart pattern identified by Autochartist on the 4-hour charts. The length of this Down Channel equals to the 132 candles. The overall Quality of this chart pattern is measured at the 9 bar level as a result of maximum Initial Trend and Clarity (both rated at the 10 bar level) and the significant Uniformity (7 bars). This chart pattern continues the predominant uptrend visible on the daily EUR/HUF charts. The bottom of this chart pattern (point F on the chart below) formed when the pair reversed up from the strong support level 290.00. The latest upward reversal from this level of support broke through the upper resistance trendline of this Down Channel. The pair is expected to rise further toward the Forecast Price 312.2787.
|
|
Read more...
|
|
Daily Forex Technicals |
Written by Admiral Markets |
Feb 07 12 02:49 GMT
|
|
Meanwhile the price moves in line with expectations. Presumably, the correctional wave iv of the impulse (v) of [i] is completed. If this assumption is correct, we can expect an upward price movement in line with the the impulse or the Diagonal Triangle formation v of (v) of [i].
|
|
Read more...
|
|
Daily Forex Technicals |
Written by FXTimes |
Feb 07 12 02:20 GMT
|
|
The AUD/USD rallied above last week's 1.0683 range resistance before setting up 1.0750 area as the next range resistance, which was broken to the upside after the better than expected Non-Farm Payroll data from the US. This week, the market fails to sustain the rally, falling back to 1.0683 to test as support again. The 1H chart shows that the market is basically consolidating and respecting 1.0683.
|
|
Read more...
|
|
Daily Forex Technicals |
Written by Forex.com |
Feb 07 12 02:15 GMT
|
|
EUR/USD has been testing the patience of traders for the better part of 2-weeks now, chopping around in a 200 pip range between 1.3030 and 1.3230. Traders have been focused on EU headline after headline, primarily circled around the Greek debt saga – One moment they have ‘reached a deal’, and the next...nada! So, what does it all mean? Quite honestly, I’m a bit surprised the market has been as forgiving as it has, considering month in and month out Greece has failed to deliver on their promises – However, I believe a large part of the reason for this is the fact that nearly everyone who is bearish Euro is already short the darn thing. Consequently, the ‘weak’ shorts likely need to be either taken out (if already short), or scared from away entering (if they are thinking about it), before we can see a material EUR/USD move lower over the ensuing days/weeks.
|
|
Read more...
|
|
Daily Forex Technicals |
Written by Easy Forex |
Feb 07 12 02:11 GMT
|
|
Euro 1.3120 Initial support at 1.3000 (Big Figure Support) followed by 1.2931 (Jan25 low). Initial resistance is now located at 1.3151 (Feb 6 high) followed by 1.3386 (Dec 12 high)
|
|
Read more...
|
|
Daily Forex Technicals |
Written by FXTimes |
Feb 06 12 16:25 GMT
|
|
The EUR/CHF found support at 1.2030, above the “1.20 floor” that the SNB had pledged to support back in September 2011. Last week, the pair climbed above a declining channel in the 1H chart, but there was a throwback after testing the 200 hour SMA. Since then, the market has continued to anchor away from the 1.2030 low and 1.20 floor in an expansion pattern (support and resistance moving away). The key will be the support because a break re-opens 1.2030-1.20.
|
|
Read more...
|
|
|
<< Start < Prev 1 2 3 4 5 6 7 8 9 10 Next > End >>
|
|
Page 1 of 389 |
Latest in Technical Analysis
|
Forex Brokers
|
