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Currency Majors Technical Perspective
Tue, Nov 3 2009, 13:20 GMT
by Valeria Bednarik
FXstreet.com Independent Analyst Team
EUR/USD Current price: 1.4657
Pair had reached oversold conditions in the hourly, attempting some upside correction, thus quite limited at this point, leaving doors opened for further falls that will depend mostly on risk sentiment and stocks behavior. Bigger time frames indicators had turned strongly bearish, supporting the bias, with next key midterm strong support at 1.4550.
Support levels: 1.4630 1.4605 1.4550
Resistance levels: 1.4810 1.4850 1.4890
GBP/USD Current price: 1.6312
Pound reached the key 1.6250 support from where the pair rebounded to the upside. Having completed the correction, hourly indicators remain slightly bullish, yet bigger time frames are gaining bearish momentum, suggesting more downside pressure during American session. 20 SMA above current price holds the bearish slope, not quite strong yet.
Support levels: 1.6250 1.6215 1.6160
Resistance levels: 1.6340 1.6380 1.6440
USD/JPY Current price: 90.22
Not much change in the past hours, pair keeps holding above 90.00 area, yet hourly charts show indicators had lost upside momentum, while 20 SMA has turned flat. Same picture is seen in bigger time frames; pair needs to overcome the 90.70 highs resistance area to trigger some upside momentum, while under 89.80, will likely accelerate to the downside
Support levels: 90.10 89.80 89.30
Resistance levels: 90.35 90.70 91.10
USD/CHF Current price: 1.0311
Strongly bullish, pair has reached extreme over bought conditions and now corrects to the downside, still around 1.0320 resistance area. A confirmation above that level, after correction is complete, will trigger more upside rallies in the pair, as bigger time frames confirm the bias.
Support levels: 1.0285 1.0240 1.0200
Resistance levels: 1.0335 1.0360 1.0400
Published on Tue, Nov 3 2009, 13:22 GMT
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- Currency Majors Technical Perspective
Published On Mon, Nov 23 2009, 14:24 GMT - Currency Majors Technical Perspective
Published On Mon, Nov 23 2009, 00:03 GMT - Currency Majors Technical Perspective
Published On Fri, Nov 20 2009, 14:22 GMT - Currency Majors Technical Perspective
Published On Thu, Nov 19 2009, 23:34 GMT - Currency Majors Technical Perspective
Published On Thu, Nov 19 2009, 14:20 GMT
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