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Daily Technical Outlook − Thursday 11.20.2008
Thu, Nov 20 2008, 07:42 GMT
by E-Forex Team
EURUSD
The Euro declined on yesterday after the failed test of the 1.2800 resistance, reaching lows at 1.2470 which is the first intraday support now, backed by 1.2395 and 1.2330/35. Upside barriers are eyed at 1.2575 followed by 1.2635, 1.2700 and 1.2800 higher. Daily momentum is bearish and downtrend may resume, breaking the minor support at 1.2470. Hourly studies are slightly bullish. Current quote is 1.2532 @07:40 GMT
Support levels: 1.2470, 1.2395 and 1.2330/35.
Resistance levels: 1.2575, 1.2635, 1.2700 and 1.2800.
Market sentiment: long-term : bearish, mid-term : bearish, short-term : bearish
AUDUSD
Downside remains under pressure as the Aussie dollar is currently trading near support into the .6330 region. A sustained break is favored by the bearish sentiment of the daily studies and this will probably extend the decline towards the .6000/10 support. Resistance levels are seen at .6430 then .6510 and .6600, higher. Current quote is .6343 @07:40 GMT
Support levels: .6330, .6190 and .6005
Resistance levels: .6425, .6510 and .6600.
Market sentiment: long-term : bearish, mid-term : bearish , short-term : bearish
EURCHF
Daily sentiment remains bullish but yesterday's retracement after establishing a higher high into the 1.53 zone suggests that upside barriers are strong and large rallies are expected to be sold. Support into the 1.5100 region is intact, backed by 1.5000 lower. The said support levels will maintain an upside bias while they remain intact. Interim resistance is seen at 1.5230 followed by 1.5330/50 and 1.5400. Current quote is 1.5172 @07:40 GMT
Support levels: 1.5100, 1.5000, 1.4940/50 and 1.4750.
Resistance levels: 1.5230, 1.5330/50 and 1.5400.
Market sentiment: long-term : bearish, mid-term : bearish , short-term : bullish
Published on Thu, Nov 20 2008, 07:42 GMT
Archive
- Daily Technical Outlook - Thursday 01.08.2009
Published On Thu, Jan 8 2009, 07:22 GMT - Daily Technical Outlook - Wednesday 01.07.2008
Published On Wed, Jan 7 2009, 07:44 GMT - Daily Technical Outlook - Tuesday 01.06.2009
Published On Tue, Jan 6 2009, 07:47 GMT - Daily Technical Outlook - Monday 01.05.2009
Published On Mon, Jan 5 2009, 07:45 GMT - Daily Technical Outlook - Thursday 12.18.2008
Published On Thu, Dec 18 2008, 07:51 GMT
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