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Unwinding Carry Trades Make The Low Yields Gain
Mon, Sep 1 2008, 10:01 GMT
by Tatsuya Kawanishi
EUR/USD : Key level
The pair has fallen over 1,300 pips since July and is still showing bearish sentiment. Although a bullish cross over is seen in MACD, CCI suggests downwards movement. Resistance is seen at 1.4800/10 while dynamic support is at 1.4600/10. A break of the projected line (purple) is considered a trigger for further downward movement.
Resistance : 1.4800/10, 1.4910/20 Support : 1.4600/10, 1.4430/40
GBP/USD : Tumbling in a free fall
The GBP/USD has been tumbling in a free fall. CCI is about to reach the oversold condition territory. Bearish momentum is not like to end any time soon. Currently the pair is hovering the key support level at 1.8000.
Resistance : 1.8200/10, 1.8330/40 Support : 1.8000/10, 1.7730/40, 1.7600/10
USD/JPY : Key level
The USD/JPY has slightly moved down in a last couple of weeks. The pair has found a difficulty in breaking through the tough area around 110.40/60. CCI has gotten into the oversold condition territory. MACD is still declining gradually. If the pair gets a good support around 107.20/30, we might see the pair challenging the tough resistance level. On the other hand, if we see a break of the support, 106.50 and 106.00 would be good targets.
Resistance : 108:50/60, 110,40/60 Support : 107.20, 106.50, 106.00
USD/CHF : Has waffled
The USD/CHF has broken the blue projected line. CCI negative divergence is seen and MACD negative cross over is confirmed. Although the 2 indicators suggest downward movement, the pair still has upside potential. Key support is seen at 1.0910. while dynamic resistance is seen at 1.1040/50.
Resistance : 1.1040/50 Support : 1.0910, 1.0830/40
Published on Mon, Sep 1 2008, 11:11 GMT
Archive
- USD and JPY are Safe Heavens
Published On Mon, Sep 8 2008, 15:48 GMT - Unwinding Carry Trades Make The Low Yields Gain
Published On Mon, Sep 1 2008, 10:01 GMT - USD/JPY
Published On Mon, Aug 11 2008, 12:11 GMT - Majors
Published On Mon, Jul 7 2008, 09:30 GMT - Dynamic Support
Published On Mon, Jun 30 2008, 08:43 GMT
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