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Daily Technical Outlook − Tuesday 12.09.2008
Tue, Dec 9 2008, 07:43 GMT
by E-Forex Team
EURUSD
The Euro is currently testing intraday support at 1.2855, retreating from the 1.2950 zone where key resistance could not be breached on yesterday. The daily studies are slightly bullish and a sustained break of 1.2950 is needed to confirm the uptrend. While trading below the said barrier, support on the 1.2800 handle and lower, at 1.2760, may come into play later today. Hourly studies are bearish at the time of this report. Current quote is 1.2850 @07:40 GMT
Support levels: 1.2855, 1.2800 and 1.2760.
Resistance levels: 1.2900, 1.2950/60 and 1.3080.
Market sentiment: long-term : bearish, mid-term : bearish, short-term : slightly bullish
AUDUSD
Support into the .6535 region is on focus as the Aussie Dollar failed to hold above the .6600 mark. Current decline below .6600 seem corrective and uptrend is expected to resume if support at .6535 or lower, at .6490, will hold. Daily momentum is bullish. Resistance is now seen at .6600 followed by .6690/00. A sustained break of .6690 will probably open .7020 for a later test within the next days. Current quote is .6545 @07:40 GMT
Support levels: .6535, .6470/90 and .6390.
Resistance levels: .6600, .6690/00 and .6750.
Market sentiment: long-term : bearish, mid-term : bearish , short-term : bullish
EURCHF
Medium term resistance is formed into the 1.5580 zone by the 61.8% retracement of the 1.6367-1.4300 move. A sustained break is likely and such case will strengthen the positive momentum even more. Above the 1.5580-1.5615 resistance zone, next barrier is eyed at 1.5745/50. On the downside, support emerges at 1.5530 backed by 1.5450 and 1.5400. Current quote is 1.5574 @07:40 GMT
Support levels: 1.5530, 1.5450 and 1.5400.
Resistance levels: 1.5580-1.5615, 1.5700 and 1.5745/50.
Market sentiment: long-term : bearish, mid-term : slightly bullish, short-term : bullish
Published on Tue, Dec 9 2008, 07:44 GMT
Archive
- Daily technical outlook
Published On Tue, Nov 24 2009, 07:04 GMT - Short term outlook
Published On Mon, Nov 23 2009, 20:05 GMT - Daily technical outlook
Published On Mon, Nov 23 2009, 06:59 GMT - Daily technical outlook
Published On Fri, Nov 20 2009, 07:00 GMT - Daily technical outlook
Published On Thu, Nov 19 2009, 07:03 GMT
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InnerFX and/or its author(s) shall not be responsible for any loss arising from any investment or trading decision based on any recommendation, forecast, strategy or other information herein contained. The contents of this article should not be construed as an express or implied promise, guarantee or implication by InnerFX and/or its author(s) that readers and subscribers will profit from the strategies herein or that losses in connection therewith can or will be limited. Trades in accordance with the recommendations / strategy in an analysis, especially leveraged investments such as Foreign Exchange trading and investment in derivatives, can be very speculative and may result in losses as well as profits, in particular if the conditions mentioned in the analysis do not occur as anticipated. Trading in the Currency Exchange market is a challenging opportunity where above average returns are available to educated and experienced investors who are willing to take above average risk. Past performance does not guarantee similar performance in the future. Check http://www.innerfx.com/disclaimer for full disclaimer. You may not post this (or part of this) article to forums, newsgroups, mailing lists, electronic bulletin boards, websites, or other services, without the prior written consent of InnerFX.Related reports
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