Cable: Remains weak below the falling resistance coming in at 1.4771 today
Wed, Feb 25 2009, 10:51 GMT
by Per-Erik Karlsson
Euro
Was not able to close above the 1.2820 falling resistance line yesterday and closed significantly off the high (1.2991), which is a sign of weakness. However seems to be good support down at the 1.25 level. So basically looking like 1.2500 to 1.2820 range for now and a close above 1.2820 would be bullish. Only a break of the 1.2500 support would open for another leg down.
Support: 1.2510 (yearly low), 1.2328 (2008 low)
Resistance: 1.2820 (falling resistance), 1.3000 (psychological resistance), 1.3090 (February high)
240 min – Need to make a close above the 1.2820 resistance to opens for a test of the 1.3090 February high.
Cable
Remains weak below the falling resistance coming in at 1.4771 today. The 1.50 level is also key resistance level and key support remains the 1.4050 level. Key levels for today are, falling resistance at 1.4771 and underlying support down at 1.4150.
Support: 1.4310 (last week’s resistance), 1.4130 (underlying support), 1.4050 (2009 low), 1.3501 (2008 low)
Resistance: 1.4771 (falling resistance), 1.4985 (Feb. 2009 high) 1.5372 (2009 high)
120 min – Trading inside a triangle, support at 1.4223 and resistance at 1.4771.
USDCHF
Trading inside the rising trend channel with 1.1901 overhead resistance and 1.1471 underlying support. Need to a close outside of this range to trigger and bigger directional move. Friday’s price action was bearish and suggest a possible break to the down side is what I favor for the moment.
Support: 1.1471(triangle support), 1.1313 (27th of January low)
Resistance: 1.1884 (Friday’s high), 1.1901 (triangle resistance)
USDJPY
Bullish momentum above the rising support, coming in at 91.25 today. Broke clean above the 94.62 resistance overnight, which opens for a test of 97.40 resistance level.
Support: 87.09 (Dec. 08 low)
Resistance: 93.40 (falling res), 94.62 (Jan. 09 high)
EURJPY
The bias is to the upside above the rising support at 115.08 after it broke firmly above the 120 yesterday and next target is the 122.15 resistance. The next really big resistance level if 122.15 gives away is all the way up at 125.74 that is the 23.60% Fibonacci retracement of the 169.96 to 112.07 move.
Support: 117.88 (Friday low), 115.08 (rising support)
Resistance: 122.15 (19th of January high), 125.74 (23.60% Fibonacci of the 169.96 to 112.07 move) 131.09 (December 08 high)
USDCAD
That 1.30 level remains the key resistance level to break to get another rally higher. With minor resistance sitting at 1.2763. Rising support coming in at 1.2310 today, which needs to hold to keep the recent bullish momentum.
Support: 1.2310 (rising support), 1.1759 (last reaction low), 1.1685 (rising support), 1.1460 (break out level)
Resistance: 1.2763 (2009 high), 1.3007 (March 2006 low)
EURGBP
As long as the 0.9079 resistance holds the bearish momentum is intact and key support remains the 0.8630 level. Friday’s high of 0.8920 is key resistance for today. While below the 0.8920 resistance level the momentum is down on intraday basis.
Support: 0.8630 (2009 low)
Resistance: 0.8920 (Friday‘s high), 0.9079 (February high)
