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Daily technical outlook − Friday 08.15.2008
Fri, Aug 15 2008, 06:35 GMT
by E-Forex Team
EURUSD
The breach of the support at 1.4820 on yesterday extends the decline into the mid 1.47 region where interim support is being tested at the time of this writing. Next support region is seen at 1.4645/50 while on the upside, resistance emerges at 1.4820 followed by 1.4850 and key resistance into the 1.4950 zone. Since most technical support levels have been cleared recently, the decline may extend towards the 1.44 region within the next days. Focus stays on the downside while resistance at 1.4950 is intact. Both daily and intraday studies are bearish. Current quote is 1.4752 @06:30 GMT
Support levels: 1.4750, 1.4695/00 and 1.4645/50
Resistance levels: 1.4790, 1.4820, 1.4850, 1.4900 and 1.4950.
Market sentiment: long-term : bullish, mid-term : bearish, short-term : bearish
AUDUSD
Support at .8590/00 formed 2 days ago is on focus as the Aussie failed to hold above support into the .8680 region. A potential break of .8590 may encourage further losses towards support at .8545/50 and .8505/10. Both daily and intraday studies are bearish. Current quote is .8625 @06:30 GMT
Support levels: .8620, .8590/00 and .8550.
Resistance levels: .8680, .8765, .8840/50 and .8950.
Market sentiment: long-term : bullish, mid-term : bearish , short-term : bearish
EURCHF
The consolidation continues within the 1.6165-1.6240 range and a break on either side is needed in order to get some clues about next objectives. Resistance is seen at 1.6235 followed by 1.6260 while support is seen at 1.6165 and 1.6135. Daily studies are slightly bearish while intraday charts are bullish. Current quote is 1.6205 @06:30 GMT
Support levels: 1.6165/70, 1.6150, 1.6135 and 1.6060.
Resistance levels: 1.6235, 1.6260 and 1.6280.
Market sentiment: long-term : bullish, mid-term : bullish, short-term : slightly bearish
Published on Fri, Aug 15 2008, 06:36 GMT
Archive
- Daily Technical Outlook - Monday 12.01.2008
Published On Mon, Dec 1 2008, 07:45 GMT - Daily Technical Outlook - Friday 11.28.2008
Published On Fri, Nov 28 2008, 07:46 GMT - Daily Technical Outlook - Thursday 11.27.2008
Published On Thu, Nov 27 2008, 07:44 GMT - Daily Technical Outlook - Wednesday 11.26.2008
Published On Wed, Nov 26 2008, 06:13 GMT - Daily Technical Outlook - Tuesday 11.25.2008
Published On Tue, Nov 25 2008, 07:34 GMT
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