Fri, Feb 20 2009, 14:55 GMT
by Slobodan Drvenica
EURUSD
Broke a 3 month bull trendline at 1.2720, reaching 1.2513 so far. Yesterday’s upper rejection at 1.2762 suggests lower top in place for fresh weakness towards 1.2513, then 1.2423.
Res: 1.2647, 1.2706, 1.2762, 1.2806
Sup: 1.2528, 1.2513, 1.2423, 1.2388
GBPUSD
Rally from 1.4092 reversed at 1.4445, near 38.2% retracement of 1.4986/1.4092 decline. Latest relapse stalled at 1.4151, with fresh attempt higher seeking reclaim of 1.4365 to revive bulls. Failure there risks fresh bears under 1.4092.
Res: 1.4418, 1.4449, 1.4485, 1.4522
Sup: 1.4150, 1.4123, 1.4092, 1.4071
USDJPY
Probing 100-day MA ahead of key 5-week double-bottom pivot at 94.65. Hourly over-extended conditions caution setback but 10-day MA near 92.09 buoys.
Res: 94.47, 94.65, 94.99, 95.43
Sup: 93.28, 92.75, 92.09, 91.56
USDCHF
Maintains the positive structure, with market now approaching 1.1843, 76.4% retracement of 1.2298/1.0370 decline. Break here will open 1.1925, 4 Dec low first, then 1.2000. Downside, 1.1703 now buoys.
Res: 1.1883, 1.1925, 1.1973, 1.2000
Sup: 1.1790, 1.1755, 1.1723, 1.1703
Published on Fri, Feb 20 2009, 14:59 GMT
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