FXstreet.com

8

2

Currency Majors Technical Perspective

Thu, Jul 2 2009, 13:44 GMT
by Valeria Bednarik

FXstreet.com Independent Analyst Team


EUR/USD Current price: 1.4054

EUR/USD chart

Bearish in the hourly, pair is holding above 1.4040 static support zone, ahead of 1.4000 psychological level. With indicators suggesting more downside pressure, expect the rally to accelerate under that level. 4 hours indicators support the perspective also.

Support levels: 1.4040 1.4000 1.3960

Resistance levels: 1.4090 1.4135 1.4170

GBP/USD Current price: 1.6388

GBP/USD chart

Under selling pressure, pair seems unable to regain the 1.6420 zone. A descendant trend line, along with 20 SMA should cap the upside, while clear break under today’s low at 1.6330 will accelerate the downside. Bigger time frames support the perspective as daily charts are about to give bearish signals.

Support levels: 1.6330 1.6280 1.6250

Resistance levels: 1.6420 1.6470 1.6520

USD/JPY Current Price 96.00

USD/JPY chart

Falling strong, 96.00 is barely holding the downside despite indicators are close to oversold conditions in the hourly. Hourly candle opening under 95.90 or so, could trigger some bearish momentum in the pair, as bigger time frames also support further falls.

Support levels: 95.90 95.50 95.20

Resistance levels: 96.30 96.80 97.00

USD/CHF Current Price: 1.0835

USD/CHF chart

Pair rise close to 1.0880 static resistance level and at the point, remains bullish in the hourly, yet indicators seem a bit exhausted. 20 SMA has turned bullish both in 1 and 4 hours charts, with price above both. Expect some strength above 1.0880 level.

Support levels: 1.0800 1.0770 1.0720

Resistance levels: 1.0880 1.0920 1.0950

NOTE: when not detail, supports and resistance levels reflect past session candles minimums or maximums congestion zones.

Published on  Thu, Jul 2 2009, 13:53 GMT

Follow the markets with one of the authors of the Currency Majors Technical Perspective report:

Valeria Bednarik in her blog The advisor Blog.


Archive

FXstreet.com  | Portaferrissa 7, 1r 2a, Barcelona 08002, Catalonia - Spain
http://www.fxstreet.com | analyst@fxstreet.com

Legal disclaimer and risk disclosure

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Related reports

FX View - Headline unemployment rate creates dollar shocker by Interactive Brokers LLC
Fri, Nov 6 2009, 18:41 GMT

Forex Daily Overview - USD mixed, unemployment rises to 10.2% by Easy Forex
Fri, Nov 6 2009, 18:31 GMT

Weekly Market Commentary - Fed, BOE and ECB kept rates on hold by Mizuho Corporate Bank
Fri, Nov 6 2009, 15:45 GMT

Forex Daily Analysis - USDJPY is moving towards support level at 89.55 by Investija.com
Fri, Nov 6 2009, 14:35 GMT

Forex Technical Report - U.S. Markets Brace for Jobs Data by ForexHound.com
Fri, Nov 6 2009, 13:29 GMT

eurusd, highlighted, gbpusd, usdchf, techexclusive, currencies, usdjpy

View All

Related content


Interested in forex trading? forex brokerage firms!


FOREX.com
Contact the broker/FDM
Open a demo account
FX Solutions LLC
Contact the broker/FDM
Open a demo account
CitiFX Pro
Contact the broker/FDM
Open a demo account		Alpari (US), LLC
Contact the broker/FDM
Open a demo account		City Credit Capital (UK) Limited
Contact the broker/FDM
Open a demo account

GET CASH BACK FOR YOUR TRADES!   Learn more about the Pip Rebate Program

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer.

Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.

Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. FXstreet.com has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.

Any opinions, news, research, analyses, prices or other information contained on this website, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

©2009 "FXstreet.com. The Forex Market" All Rights Reserved.