Daily Technical Strategist

0

0
EURUSD: Failure Ahead of The 1.3852/82 zone Suggests A Retest of The 1.3443 Level
Fri, Oct 10 2008, 09:39 GMT
by Mohammed Isah
FXTechstrategy
- EURUSD: Failure Ahead of The 1.3852/82 zone Suggests A Retest of The 1.3443 Level.–EUR looks to head to the downside again as its attempt on the upside was halted ahead of the 1.3852/82 zone, its Sept 11’08 low/July’07 high opening up risk towards its YTD low at 1.3443…
- GBPUSD: GBP Clears The 1.7049 Level, Triggers Long Term Downtrend- As highlighted in our Thursday analysis, with a loss of the 1.7049 level achieved and its June’03 high at 1.6857 being challenged in early morning trading today, GBP’slonger term downside weakness has been triggered…
Failure Ahead of The 1.3852/82 zone Suggests A Retest of The 1.3443 Level.
EURUSD: EUR looks to head to the downside again as its attempt on the upside was halted ahead of the 1.3852/82 zone, its Sept 11’08 low/July’07 high opening up risk towards its YTD low at 1.3443.Presence of three shooting star candles remains supportive of the said retest which is also in line with its medium term downtrend. Invalidating the latter will push the pair lower aiming at its Dec’04 high/August’07 low at 1.3366/61 where a break could see EUR weaken further towards the 1.3312/1.3264 zone, its .618 Ret (1.1640-1.6038 rally)/Jun’07 low. On the upside, the 1.3682/66 zone, its April’07/Dec’04 highs will serve as the first target ahead of the 1.3852/82 zone followed by its Oct’07 low at 1.4015 and subsequently its Sept 16’08 low at 1.4073.The daily studies are oversold and a positive divergence is in place supporting a temporary bounce case. On the whole, the pair’s broader bias remains to the downside with any corrective gains seen as short term.
Support Comments
1.3366/61 Dec’04 high/August’07 low
1.3312/1.3264 .618 Ret (1.1640-1.6038 rally)/Jun’07 low
1.2980 Jun’06 high
Resistance Comments
1.3682/66 April’07/Dec’04 highs
1.3852/82 Sept 11’08 low/July’07 high
1.4015 Oct’07 low
1.4073 Sept 16’08 low
Published on
Fri, Oct 10 2008, 09:49 GMT
Archive
- EURUSD: EUR Set To Retarget The 1.23330 Level
Published On Tue, Dec 2 2008, 13:20 GMT
- EURUSD: Recovery Started At The 1.2423 Level Remains in Force
Published On Thu, Nov 27 2008, 11:46 GMT
- EURUSD: EUR Sustains Upside Gains, Highlights The 1.3298 Level
Published On Wed, Nov 26 2008, 13:56 GMT
- EURUSD: Resolution To The Upside Leaves Range Top(Triangle 1.3298) As Next Target
Published On Tue, Nov 25 2008, 13:19 GMT
- EURUSD: Break Out Of The Symmetrical Consolidation To Triangle Seen
Published On Fri, Nov 21 2008, 11:58 GMT
[ View All ]
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.
Related Blog Posts
Foreing Exchange - USDCHF: Key resistance remains 1.2354, the March 2007 high By Avantage Financial GMBH
Tue, Dec 2 2008, 14:32 GMT
Currency Majors Technical Analysis By Mataf.net
Tue, Dec 2 2008, 14:11 GMT
Insights Market Outlook - Monetizing the Debt By Merk Hard Currency Fund
Tue, Dec 2 2008, 13:39 GMT
Daily Technical Strategist - EURUSD: EUR Set To Retarget The 1.23330 Level By FXTechstrategy
Tue, Dec 2 2008, 13:20 GMT
Market Session Recaps - London Session By FOREX.com
Tue, Dec 2 2008, 13:13 GMT
eurusd, gbpusd
View All
Related content
UK mortgages chief sees 2009 lending down on 2007
Thomson Financial News | Tue, Dec 2 2008, 16:55 GMT
COLUMN-Dollar demise much exaggerated: John Kemp
Thomson Financial News | Tue, Dec 2 2008, 14:58 GMT
Euro Rebounds Vs Dollar As Oil Prices Eclipse $50/Bbl
Dow Jones | Tue, Dec 2 2008, 13:56 GMT
FACTBOX-Inflationary pressures in the euro zone
Thomson Financial News | Tue, Dec 2 2008, 13:38 GMT
UPDATE 2-UK construction slump boosts case for big rate cut
Thomson Financial News | Tue, Dec 2 2008, 12:31 GMT
eurusd, gbpusd
View All
The Trader’s Edge » Weekly Warm Up
Mon, Dec 1 2008, 09:32 GMT
Gbp/Usd follow up
Fri, Nov 28 2008, 13:06 GMT
Euro/Usd ready to break down
Fri, Nov 28 2008, 13:05 GMT
The Advisor Weblog » Eur/Usd for today
Fri, Nov 28 2008, 10:47 GMT
The Advisor Weblog » Gbp/Usd for today
Thu, Nov 27 2008, 22:00 GMT
eurusd, gbpusd
View All
Technical analysis for EUR/USD, GBP/USD - Page 5 - Forex Forum - FXstreet.com
Fri, Oct 10 2008, 12:07 GMT
Yellowlion's Daily EURUSD - Page 6 - Forex Forum - FXstreet.com
Fri, Oct 10 2008, 12:07 GMT
Elliott charts with Grega H. - Page 2 - Forex Forum - FXstreet.com
Fri, Oct 10 2008, 12:05 GMT
Technical analysis for EUR/USD by AceTrader - Forex Forum - FXstreet.com
Fri, Oct 10 2008, 12:03 GMT
The technical analysis of majors - Page 3 - Forex Forum - FXstreet.com
Fri, Oct 10 2008, 12:02 GMT
eurusd, gbpusd
View All
Outlook for the major currencies this week
Ian Copsey | Tue, Sep 30 2008, 08:00 GMT
FX Instructor Live Trading Room
Mark De La Paz | Tue, Sep 30 2008, 11:00 GMT 
FX Instructor Live Trading Room
Mark De La Paz | Wed, Oct 1 2008, 09:00 GMT
Weekly Webinar: 1st on Forex - The Week Ahead
Jerry Furst | Mon, Oct 6 2008, 16:00 GMT
Outlook for the major currencies this week
Ian Copsey | Tue, Oct 7 2008, 08:00 GMT
eurusd, gbpusd
View All
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our
user agreement. Please read our
privacy policy and legal disclaimer.
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.
©2008 "FXstreet.com. The Forex Market" All Rights Reserved.