• Home ::
• Technical ::
• Forex Forecasts ::
• Daily Recommended Trades

• Send
• Print
• Add To
• Rss

Daily Recommended Trades

972f4435-ff51-4250-97f0-0efac5a4d39a

4

0

Daily Technical Outlook

Wed, Jul 1 2009, 06:15 GMT
by E-Forex Team

InnerFX

EURUSD

The euro lost some ground on yesterday as it failed to hold gains above the 1.4100 handle, and closed lower - therefore affecting the monthly bar that has been closed by 110 points below the open price of 1.4145 which provided the turning point resistance on yesterday's initial rally. Although the 1.4000 mark has been stable since yesterday's decline, downside pressure may intensify, aiming for bids into the 1.3900/10 region later. North of 1.4050 which is the first intra-day resistance - a sustained breach above 1.4080/00 is needed to resume uptrend and rebuild momentum. Current quote is 1.4030 @06:15 GMT

Support levels: 1.4000, 1.3950 and 1.3900/10
Resistance levels: 1.4050/55, 1.4080/00, 1.4140/50, 1.4175/80 and 1.4250
Market sentiment: long-term : bearish, mid-term : bullish, short-term : slightly bullish

AUDUSD

Current retreat from the .8150 region weakens the short-term sentiment but upside bias remains intact as long as the Aussie dollar holds above the .7840/50 level. Intra-day sentiment is negative and the rising trend line support started at .7930 is under pressure at the time of this writing - the pair already closed below the said support on the hourly charts. In case the current breach below .8040/50 is not a false trigger, extended weakness will probably bring the .7930 support on our attention later today. On the upper side, a rebound may be signaled by a a close above .8075/80 - first intra-day resistance. Current quote is .8032 @06:15 GMT

Support levels: .8000, .7930 and .7840/50
Resistance levels: .8075/80, .8155/85, .8235 and .8260
Market sentiment: long-term : bearish, mid-term : bullish, short-term : slightly bullish

EURCHF

Support at 1.5235 is under pressure as the pair doesn't seem ready to regain strength towards recent top side at 1.5380. On a short-term basis, the upside remains favored - as long as lower support at 1.5130 remains valid. Current quote is 1.5237 @06:15 GMT

Support levels: 1.5230/35, 1.5190, 1.5140/50 and 1.5100
Resistance levels: 1.5285, 1.5325 and 1.5380/00
Market sentiment: long-term : bearish, mid-term : bearish, short-term : bullish

Published on  Wed, Jul 1 2009, 06:22 GMT