日本語
Español
中文
Русский
- New York 06:20
- London 11:20
- Barcelona 12:20
- Tokyo 20:20
- Sydney 22:20
Daily Technical Strategist
0
0
EURUSD: Turns Lower, Follows Through To The Downside
Thu, Apr 3 2008, 12:49 GMT
by Mohammed Isah
EURUSD: EUR recovered from an intra day low of 1.5552 Wednesday to close the session at 1.5683.This is coming on the heels of a failure at 1.5895(Mar 31’08) level and a subsequent follow-through lower on Tuesday. While both the medium and longer term trends remain to the upside, a clean penetration and hold above the 1.5895/1.5904 levels, representing its 2008 peaks is required to resume that trend and prevent the present downside threat. In such a case, its psycho resistance at 1.6000 and the 1.6100 level, another psycho level.Conversely, if the pair fails to turn above the 1.5895/1.5904 levels lower prices are envisaged towards the 1.5455/95 level, its psycho level/Mar 07’08 followed by its Mar 24’08 low/.382 Ret (1.4440-1.5904 rally) at 1.5344/42 ahead of the 1.5174 level, its .50 Ret. Its daily stochastics continues to point to the downside. On the whole, the medium and longer term bullish outlook continues to hold while nearer term consolidation to pullbacks could be seen.
| Support | Comments |
| 1.5455/95 | Psycho Level/Mar 07’08 |
| 1.5344/42 | .382 Ret/Mar 24’08 low. |
| 1.5174 | .50 Ret |
| Resistance | Comments |
| 1.5700 | Psycho Level |
| 1.5800 | Psycho Resistance |
| 1.5895/I 5904 | Mar 31’08 high/2008 Peak |
| 1.6000 | Psycho Level |
Published on Thu, Apr 3 2008, 12:53 GMT
Archive
- GBPUSD: TrendlineBreak Highlights The 16514 level
Published On Fri, Nov 20 2009, 11:34 GMT - GBPUSD: Weakening And Testing The 1.6681 Level
Published On Thu, Nov 19 2009, 12:12 GMT - EURUSD: Overall Uptrend Remains Intact
Published On Wed, Nov 18 2009, 12:09 GMT - EURGBP: Bows To The 0.8897 Level, Eyes The 0.8838 Level
Published On Tue, Nov 17 2009, 11:28 GMT - EURUSD: Failure Above The 1.5000 Level Keeps Risk Lower
Published On Fri, Nov 13 2009, 17:14 GMT
FXTechstrategy
http://www.fxtechstrategy.com/ | m.isah@fxtechstrategy.com
Legal disclaimer and risk disclosure
This report is prepared solely for information and data purposes. Opinions, estimates and projections contained herein are those of FXTechstrategy.com own as of the date hereof and are subject to change without notice. The information and opinions contained herein have been compiled or arrived at from sources believed to be reliable but no representation or warranty, express or implied, is made as to their accuracy or completeness and neither the information nor the forecast shall be taken as a representation for which FXTechstrategy.com incurs any responsibility. FXTstrategy.com does not accept any liability whatsoever for any loss arising from any use of this report or its contents. This report is not construed as an offer to sell or solicitation of any offer to buy any of the currencies referred to in this report.Interested in forex trading? forex brokerage firms!
GET CASH BACK FOR YOUR TRADES! Learn more about the Pip Rebate Program
Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. FXstreet.com has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.
Any opinions, news, research, analyses, prices or other information contained on this website, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
©2009 "FXstreet.com. The Forex Market" All Rights Reserved.