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Daily Technical Strategist
AUDUSD: Resumes Its Short Term Uptrend
Thu, May 7 2009, 10:51 GMT
by Mohammed Isah
FXTechstrategy | View company's profile
GBPUSD: Holding Above Rising Trendline With Eyes On The 1.5373 Level -Having held above its rising trendline and broken above its psycho level at 1.5000, further upside gains are expected as the pair closed higher at 1.5138.
AUDUSD: Resumes Its Short Term Uptrend -The pair continues to build on its recent upside recovery reversing its intra-day losses to close higher at 0.7481 on Wednesday.
GBPUSD
GBPUSD: Holding Above Rising Trendline With Eyes On The 1.5373 Level.
GBPUSD: Having held above its rising trendline and broken above its psycho level at 1.5000, further upside gains are expected as the pair closed higher at 1.5138. Our upside outlook remains valid as long as the pair continues to trade above its rising trendline initiated at the 1.3654 level, its Mar 11’09 low. Beyond the 1.5373 level, its Jan 08’09 high will set the stage for additional upside towards its daily 200 emacurrently residing at 1.5443. The daily momentum indicators remain bullish suggesting further upside strength. Downside target is at first located at the 1.5000 level ahead of its Feb 09’09 high at 1.4986 where a cap is expected to turn the pair higher again. Further down, supports are situated at the 1.4662 level, its Feb 23’09 high and its April 22’09 low at 1.4396 with the next downside objective located at the 1.4305 level, its Mar 06’09 high. All in all, having returned above its key resistance and held above its rising trendline, GBP now looks to target further higher prices.
AUDUSD
AUDUSD: Resumes Its Short Term Uptrend.
AUDUSD: The pair continues to build on its recent upside recovery reversing its intra-day losses to close higher at 0.7481 on Wednesday. Risk for additional upside gains has opened towards the 0.7565 level, its .618 Ret(0.8520-0.6008 declines) ahead of the 0.7800 level, its psycho level. Both its daily and weekly momentum indicators are bullish suggesting further strength. On the downside, the 0.7400 level, its Psycho level and the 0.7325 level, its April 13’09 high come in as the next downside objective followed by its 200 emaat 0.71562 and then its April 20’09 low at 0.6978/52. Overall, with the clearance of the 0.7325 level seen further upmove is now expected.
Published on Thu, May 7 2009, 12:32 GMT
FXTechstrategy
http://www.fxtechstrategy.com/ | m.isah@fxtechstrategy.com
Archive
- EURUSD: Weak And Targeting The 1.3536 Level
Published On Fri, Mar 19 2010, 10:40 GMT - GBPUSD: Upside Risk Still Seen
Published On Thu, Mar 18 2010, 11:10 GMT - GBPUSD: Bear Pressure Subsides
Published On Tue, Mar 16 2010, 12:14 GMT - GBPUSD: Bear Pressure Sets In
Published On Mon, Mar 15 2010, 10:29 GMT - EURUSD: Recaptures The 1.3735 Level, Target The 1.3787 Level
Published On Fri, Mar 12 2010, 12:42 GMT
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 reports
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