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Daily Technical Outlook − Thursday 09.04.2008
Thu, Sep 4 2008, 06:43 GMT
by E-Forex Team
EURUSD
The Euro recovered on yesterday after testing bids into the 1.4390 zone. Minor resistance is seen at 1.5430/40 and a sustained break should encourage further gains towards next barrier at 1.4590/00. Large moves across the board are possible today due to ECB's rate decision. The downside remains on focus and the Euro may face fresh selling interest into the 1.4600 region, if reached later. On the downside, support emerges at 1.4470 backed by 1.4380/90. Longer term support is formed at 1.5485 by the 61.8% retracement of the 1.3360-1.6040 move. Current quote is 1.4500 @06:40 GMT
Support levels: 1.4500, 1.4470 and 1.4380/90
Resistance levels: 1.4530/40, 1.4600 and 1.4650.
Market sentiment: long-term : bullish, mid-term : bearish, short-term : bearish
AUDUSD
A potential break of the resistance at .8410 may signal a recovery aiming towards the .8490-.8535 resistance zone. Support is seen at .8305 backed by .8270 and .8235. Intraday studies are slightly bullish while the dailies are bearish. Current quote is .8356 @06:40 GMT
Support levels: .8305, .8370 and .8235/40.
Resistance levels: .8380, .8410, .8490 and .8510/35.
Market sentiment: long-term : bullish, mid-term : bearish , short-term : bearish
EURCHF
Support at 1.5970/85 is on focus since the break through support at 1.6020/30. On the upside, resistance starts at 1.6020 followed by 1.6050/60 and 1.6115. Both daily and intraday studies are bearish. Current quote is 1.6006 @06:40 GMT
Support levels: 1.5970/85, 1.5950 and 1.5900.
Resistance levels: 1.6020, 1.6050/60 and 1.6115.
Market sentiment: long-term : bullish, mid-term : neutral, short-term : bearish
Published on Thu, Sep 4 2008, 06:46 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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