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Daily Technical Outlook − Wednesday 09.03.2008
Wed, Sep 3 2008, 06:33 GMT
by E-Forex Team
EURUSD
The Euro continues to drop and support at 1.4470 has been broken during today's Asian session, reaching lows at 1.4410 which is the current near term support. Below 1.4410, support also emerges at 1.4360 and 1.4300. Resistance is formed now at 1.4470 and 1.4540/50. Both intraday and daily studies are bearish and the downside remains favored while resistance at 1.4470 or higher, at 1.4540 holds. Current quote is 1.4450 @06:30 GMT
Support levels: 1.4410, 1.4360 and 1.4300.
Resistance levels: 1.4470, 1.4540 and 1.4600.
Market sentiment: long-term : bullish, mid-term : bearish, short-term : bearish
Yesterday recommended trade: small short at 1.4650, initial stop at 1.4690, objective at 1.4590. Adjust stop to breakeven on +30 pips (at 1.4620) if reached : 0 (entry not reached)
AUDUSD
The recent fall below the .8500 mark is extremely bearish and the .8490-.8535 resistance zone should limit the upside for now. However, due to the strong bearish momentum is hard to spot any clues regarding a potential pullback towards the .85 region. Interim resistance is seen at .8380 while minor support is noticed at .8240. Current quote is .8277 @06:30 GMT
Support levels: ..8240, .8200 and .8150.
Resistance levels: .8380, .8490 and .8510/35.
Market sentiment: long-term : bullish, mid-term : bearish , short-term : bearish
Yesterday recommended trade: small short at .8510, initial stop at .8550, objective at .8460. Adjust stop to breakeven on +30 pips (at .8480) if reached : 0 (entry not reached)
EURCHF
The downside remains on focus after the EUR failed to break the resistance into the 1.6100/10 zone on yesterday. Current decline seem to be aiming towards the support at 1.6020/30. Below the said support, another barrier is seen at 1.5975. Resistance starts at 1.6060 followed by 1.6080 and 1.6115. Both daily and intraday studies are bearish. Current quote is 1.6050 @06:30 GMT
Support levels: 1.6020/30 and 1.5975.
Resistance levels: 1.6060, 1.6080 and 1.6115.
Market sentiment: long-term : bullish, mid-term : neutral, short-term : bearish
Yesterday recommended trade: small short at 1.6115, initial stop at 1.6155, objective at 1.6065. Adjust stop to breakeven on +30 pips (at 1.6085) if reached : +50 pips
Published on Wed, Sep 3 2008, 06:34 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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