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Daily Technical Outlook − Tuesday 08.19.2008
Tue, Aug 19 2008, 06:35 GMT
by E-Forex Team
EURUSD
Support into the 1.4650 zone failed to hold and the Euro is currently testing bids into the 1.4630 region. Intraday studies are bearish and a sustained break of 1.4650 may accelerate the decline towards next bearish objectives into the 1.4600 zone and lower, at 1.4530/40. Resistance emerges at 1.4700 and 1.4770. Higher than that, resistance is also seen at 1.4815. Current quote is 1.4633 @06:30 GMT
Support levels: 1.4600, 1.4530/40 and 1.4500.
Resistance levels: 1.4700, 1.4750, 1.4815 and 1.4910.
Market sentiment: long-term : bullish, mid-term : bearish, short-term : bearish
AUDUSD
Yesterday's minor correction to .8750 is over and the Aussie resumed to downtrend, now testing bids at .8630. Support backs .8630 at .8605 and .8550. The daily studies are highly oversold and the hourly charts are bearish as well. More downside action is possible if the support at .8605 won't hold. Current quote is .8636 @06:30 GMT
Support levels: .8630, .8605, .8550 and .8510.
Resistance levels: .8710, .8740/50, .8795, .8840/50 and .8950.
Market sentiment: long-term : bullish, mid-term : bearish , short-term : bearish
EURCHF
Key resistance into the 1.6170 region could not be broken on yesterday's test but the overnight decline to 1.6112 is pretty much corrective in nature, therefore a new test of 1.6170 is likely. Minor fib resistance is formed at 1.6145. Support is seen at 1.6105/12. Intraday studies are bullish at the time of this writing. Current quote is 1.6140 @06:30 GMT
Support levels: 1.6105/12, 1.6095, 1.6030 and 1.5960.
Resistance levels: 1.6145, 1.6170/75 and 1.6235.
Market sentiment: long-term : bullish, mid-term : neutral, short-term : bearish
Published on Tue, Aug 19 2008, 06:36 GMT
Archive
- Daily Technical Outlook - Friday 11.21.2008
Published On Fri, Nov 21 2008, 04:59 GMT - Daily Technical Outlook - Thursday 11.20.2008
Published On Thu, Nov 20 2008, 07:42 GMT - Daily Technical Outlook - Wednesday 11.19.2008
Published On Wed, Nov 19 2008, 05:11 GMT - Daily Technical Outlook - Tuesday 11.18.2008
Published On Tue, Nov 18 2008, 07:42 GMT - Daily Technical Outlook - Monday 11.17.2008
Published On Mon, Nov 17 2008, 07:44 GMT
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