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Daily Technical Outlook − Monday 09.01.2008
Mon, Sep 1 2008, 06:25 GMT
by E-Forex Team
EURUSD
The Euro continues to trade with a heavy tone versus the US dollar and the lower part of the 1.63 zone is under pressure at the time of this writing. Support is seen at 1.4600/10 and lower at 1.4570 and 1.4500. Potential rallies should face resistance at 1.4720 and 1.4765 where first two resistance levels are noticed then higher, at 1.4810. Both intraday and daily studies are bearish and the downside remains on focus while resistance into the 1.4755 zone is intact. Current quote is 1.4640 @06:20 GMT
Support levels: 1.4600/10, 1.4570 and 1.4500.
Resistance levels: 1.4720, 1.4765 and 1.4810.
Market sentiment: long-term : bullish, mid-term : bearish, short-term : bearish
AUDUSD
Key medium term support into the .8490/00 region is on focus today as the Aussie is testing bids on the .8530 intraday support. Both daily and hourly studies are bearish and a break of .8490/00 barrier should extend the decline towards the .8430 region. Resistance is set at.8560, .8590 and .8655/60. Current quote is .8537 @06:20 GMT
Support levels: .8530, .8490/00 and .8430.
Resistance levels: .8560, .8590 and .8655/60.
Market sentiment: long-term : bullish, mid-term : bearish , short-term : bearish
EURCHF
More range trading is likely while resistance at 1.6175 and support at 1.6100/05 remain intact. However, the downside is slightly favored due to the bearish daily studies. Current quote is 1.6140 @06:20 GMT
Support levels: 1.6135, 1.6100/05, 1.6060 and 1.6020.
Resistance levels: 1.6170/75, 1.6190, 1.6200/10 and 1.6255.
Market sentiment: long-term : bullish, mid-term : neutral, short-term : bearish
Published on Mon, Sep 1 2008, 06:25 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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