Daily Reports - Cross Rates - Technical Analysis

By Nov 11, 2008 07:00PM ET

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Daily Reports - Cross Rates - Technical Analysis

By | Nov 11, 2008 07:00PM ET

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Daily Reports - Cross Rates - Technical Analysis

Wednesday, November 12, 2008



EUR/JPY

Momentum indicators for the pair still show mixed signals on the differnt time frames which is the reason behind the heavy fluctuations seen in the markets. However, the euro yesterday was able to breach the upside trend line for the short to medium term which is also the 23.6% correction for the long term descending channel at 123.65. Further losses were halted at the 121.50 level which is again the upside trend line on the medium term where from there the pair was able to incline in an attempt to retest the 124.70 level and the 20 day MA on the four hour charts.
Support    123.12    122.82    122.40    122.19    121.50
Resistance    124.06    124.23    124.70    125.09    125.50
Recommendation    ...

GBP/JPY

High volatility is still dominating the GBP/JPY movements due to mixed signals from the momentum indicators on the different time frames. However, this didn't stop the pound from continuing to trade within the descending channel initiated earlier which was supported by breach of the upside trend line. The 149.07 level is an obstacle for the pair as it halted further losses today resulting in a rebound to the upside targeting the 153.24 level which is the 20 day MA on the four hour charts.
Support    150.20    149.60    149.07    148.56    147.75
Resistance    151.37    151.80    152.31    152.70    153.24
Recommendation    ...

EUR/GBP

The Euro versus the pound also experienced volatility in the markets due to mixed signals where the high volumes in trading is a result of the weakness of the pound. Trading above the 0.8104 level provides the pair with bullish momentum to reach its short term target at 0.8196 which is expected to limit further gains and return the pair back to volatile movements.
Support    0.8144    0.8133    0.8119    0.8104    0.8090
Resistance    0.8180    0.8196    0.8210    0.8230    0.8240
Recommendation    ...



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   Disclaimer:
   The above may contain information for investors/traders and is not a recommendation to buy or sell currencies, gold, silver & energies, nor an offer to buy or sell currencies, gold, silver & energies. The information provided is obtained from sources deemed reliable but is not guaranteed as to accuracy or completeness. I am not liable for any losses or damages, monetary or otherwise that result. I recommend that anyone trading currencies, gold, silver & energies should do so with caution and consult with a broker before doing so. Prior performance may not be indicative of future performance. Currencies, gold, silver &energies presented should be considered speculative with a high degree of volatility and risk.

Daily Technical Strategy By Lloyds TSB Corporate Markets - Jan 05, 2009

EUR/USD:Broader themes may have to take a back seat for a couple of weeks, but the bias remains broadly dollar negative. Re-try a small buy against 1.3430 support, stop 1.3380,...

Technical oscillators supporting the~bullish trend for the USD/CHF... By Finotec - Jan 05, 2009

USD/CHF – Market strategy is bullish, buying from the 1.1180~levelUSD/CHF-market strategy can be a buy from the level 1.1180Technical oscillators supporting the bullish trend...

January 06 analysis By Investija - Jan 05, 2009

In this PDF you will find the latest technical analysis published by Forex Trends

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US 500	6,837.8	+63.0	+0.93%
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US 10Y T-Note	112.50	-0.25	-0.22%
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Daily Reports - Cross Rates - Technical Analysis

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