🔮 Better than the Oracle? Our Fair Value found this +42% bagger 5 months before Buffett bought itRead More

Daily Technical Report Of Major And Cross Currencies: January 15, 2013

Published 01/15/2013, 03:09 AM
Updated 07/09/2023, 06:31 AM
EUR/USD
-
GBP/USD
-
USD/JPY
-
USD/CHF
-
AUD/USD
-
EUR/GBP
-
USD/CAD
-
NZD/USD
-
EUR/JPY
-
GBP/JPY
-
BETI
-
Technical Major Currencies

EUR/USD
<span class=EUR/USD" title="EUR/USD" width="911" height="662">

The bearish move stopped yesterday close to support levels at 1.3335 from where the pair rebounded to the upside. This indicates that the pair is still moving to the upside, and Linear Regression Indicators supports this outlook. Volatility and perhaps some correction are likely due to overbought signals as shown on Stochastic.

The trading range for today is among the key support at 1.3235 and key resistance at 1.3480.

The general trend over the short-term is negative targeting 1.1865 as far as areas of 1.3550 remains intact.
EURUSD S&R
GBP/USD
<span class=GBP/USD" title="GBP/USD" width="911" height="662">
The pair’s failure yesterday to break 1.6020 levels and psychological barrier at 1.6000 levels is a reason to be optimistic toward the possibility of resuming the upside move. These levels reside around the upside key support levels shown on the graph.

Stability above the mentioned levels cancels our response to the negative momentum signals, and we are expecting a bullish move during today’s session. We should point out that breaking 1.5994 levels shown on the graph might cause a strong downside move failing our expectations.

The trading range for today is among key support at 1.5910 and key resistance at 1.6215.

The general trend over the short-term is to the downside targeting 1.6875 as far as areas of 1.4225 remains intact.
GBPUSD S&R
USD/JPY
<span class=USD/JPY" title="USD/JPY" width="911" height="662">
The bearish correction remains limited above 88.20 levels which is enough to hold on to our positive expectations. Stability above the mentioned level cancels our response to any overbought signals shown on momentum indicators, therefore we still expect the extension of the upside move.

The trading range for today is among key support at 88.20 and key resistance at 90.85.

The general trend over the short-term is to the upside targeting 91.70 as far as areas of 83.40 remain intact.
USDJPY S&R
USD/CHF
<span class=USD/CHF" title="USD/CHF" width="911" height="662">
The pair moved sharply higher yesterday proving that the upside harmonic pattern still has more upside targets. Stability above 0.9235 levels makes us think that there are attempts to touch 61.8% correction at 0.9270 levels, a breaching of which will will extend the upside move toward 0.9320 levels at least. Breaking 0.9200 levels reduces positivity.

The trading range for today is among key support at 0.9100 and key resistance at 0.9320.

The general trend over the short-term is to the downside stable at levels 0.9775 targeting 0.8860.
USDCHF S&R
USD/CAD
USDCAD
Key support levels 0.9820 and 0.9800 proved their strength and Stochastic is attempting to crossover positively. We might see an attempt to the upside and we can bet on the bullishness but a breach of 0.9800 will extend the downside move.

The trading range for today is between the key support at 0.9735 and the key resistance at 0.9965.

The general trend over the short-term is to the downside below levels 1.0125 targeting 0.9400.
USDCAD S&R
AUD/USD
<span class=AUD/USD" title="AUD/USD" width="911" height="662">
The pair’s decline yesterday stopped above 1.0530 levels keeping the possibility of forming the harmonic formation shown on the graph. Linear Regression Indicators are still positive as well, any trading above 1.0495 levels will extend the upside move.

The trading range for today is among key support at 1.0645 and key resistance at 1.0650.

The general trend over the short-term is to the downside below levels 1.0710 targeting 0.9400.
AUDUSD S&R
NZD/USD
<span class=NZD/USD" title="NZD/USD" width="911" height="662">
The pair’s thin and volatile trading is stable above Linear Regression Indicators and above 0.8355. This makes us expect a possible extension of the upside move during today’s session. The ascending channel supports our expectations, and a breach of 0.8480 resistance is required to confirm the extension of the upside move.

The trading range for today might be among key support at 0.8310 and key resistance at 0.8565.

The general trend over the short-term basis is to the upside with steady daily closing above 0.8130 targeting 0.8845.
NZDUSD S&R
Technical Crosses

GBP/JPY
<span class=GBP/JPY " title="GBP/JPY " width="911" height="662">
he pair has tested 142.60 yesterday but didn't breach it, according to the graph above. Trading below Linear Regression Indicators, below momentum indicators project negative indications and within an ascending channel places us before a technical delimma, therefore, we prefer standing aside today as well.

The trading range expected for today is between the key support at 141.40 and the key resistance at 145.75.

The short-term trend is to the downside targeting 112.00 as far as 150.00 remains intact.
GBPJPY S&R
EUR/JPY
<span class=EUR/JPY" title="EUR/JPY" width="911" height="662">
Based on intraday graphs, specifically the 15min timeframe, we find ourselves before a possible formation of a Double-Top Pattern. This technical setup could apply downside pressure but we could not determine if the downtrend would extend before breaking 23.6% correction at 118.55 (as seen on the graph.) Hereon, we believe standing neutral in this report is optimal as we look for signs showing precise direction.

The trading range for today is between the key support at 116.85 and the key resistance at 120.80.

The short-term trend is to the upside targeting 109.15 as far as 98.75 remains intact at week's closing.
EURJPY S&R
EUR/GBP
<span class=EUR/GBP" title="EUR/GBP" width="911" height="662">
The pair trades near the ascending channel's main resistance as the graph above shows, featuring negative signals on momentum indicators. Nonetheless, the pair's stability above 0.8260 alongside positivity on Linear Regression Indicators compel us to stand aside for today as we are uncertain whether or not the pair has ended upside movement.

The trading range expected for today is between the key support at 0.8200 and the key resistance 0.8420.

The short-term trend is to the upside targeting 1.0370 as far as 0.7785 remains intact.
EURGBP S&R

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.