Search
Daily Recommended Trades
0
0
Daily technical outlook − Thursday 08.21.2008
Thu, Aug 21 2008, 06:28 GMT
by E-Forex Team
EURUSD
The Euro recovered after testing support at 1.4700 on yesterday and resistance into the 1.48 region is under pressure at the time of this writing. Intraday studies are bullish and the rise may extend towards 1.4850 where next resistance level is seen, then 1.4950 higher. On the downside, support starts at 1.4740 backed by 1.4700 and 1.4630/40. Current quote is 1.4806 @06:20 GMT
Support levels: 1.4740, 1.4700, 1.4630/40, 1.4530/40 and 1.4500.
Resistance levels: 1.4790/00, 1.4815, 1.4850 and 1.4950.
Market sentiment: long-term : bullish, mid-term : bearish, short-term : bearish
AUDUSD
Resistance into the .8750 zone is intact and the intraday studies are bullish, therefore a sustained break could encourage further gains towards the .8800 mark. Support is seen at .8715 backed by .8690 and .8670. Daily studies are bearish but a potential break of .8750 and .8800 later will signal a reversal although it could only be a corrective move. Current quote is .8745 @06:20 GMT
Support levels: .8715, .8690, .8670, .8605, .8550 and .8510.
Resistance levels: .8750, .8795/00, .8840/50 and .8950.
Market sentiment: long-term : bullish, mid-term : bearish , short-term : bearish
EURCHF
The breach of 1.6140 and 1.6170 resistance levels on yesterday provide a bullish view on current market's condition but on the other side, the resistance at 1.6200/10 seem strong enough and could limit the upside for now, as the pair already pulled back for 30 points since its last attempt to break through 1.6210. The current fall may continue towards interim support at 1.6170 then 1.6140, lower. Below 1.6140 resumes downtrend. Current quote is 1.6181 @06:20 GMT
Support levels: 1.6170, 1.6140, 1.6105/12, 1.6095, 1.6030 and 1.5960.
Resistance levels: 1.6210, 1.6235/45 and 1.6300
Market sentiment: long-term : bullish, mid-term : neutral, short-term : bearish
Published on Thu, Aug 21 2008, 06:28 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
E-Forex.ro
| Magheru Blvd. , 32-34, 010337, Sect. 1, Bucharest
http://www.e-forex.ro | office@e-forex.ro
Legal disclaimer and risk disclosure
Past performance does not guarantee similar performance in the future. Our forecasts do not constitute an offer to buy or sell, or the solicitation of an offer to buy or sell any foreign exchange transaction. E-Forex.ro accepts no responsibility or liability whatsoever for any expense. We do not warrant or guarantee the accuracy, timelines or completeness to the service or informations you find here.Interested in forex trading? forex brokerage firms!
  Contact the broker/FDM Open a demo account |  Contact the broker/FDM Open a demo account  |  Contact the broker/FDM |  Contact the broker/FDM Open a demo account |  Contact the broker/FDM Open a demo account |
FXstreet.com will give you a 3 months membership as soon as minimum rebates have been generated (€150 for private trader/ €300 for corporate trader)
[Read Premium full description]
Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. FXstreet.com has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.
Any opinions, news, research, analyses, prices or other information contained on this website, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
©2008 "FXstreet.com. The Forex Market" All Rights Reserved.