Edition:  English |   عربي 
Edition:  English |   عربي 
Edition:  English |   عربي 
Edition:  English |   عربي 
U.S. MARKETS
EURO MARKETS
ASIA MARKETS
Daily Reports  Tuesday April 5 , 2011 11:50 GMT
Technical Major Currencies
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Euro


Midday Report

eur05

The pair neared support 1.4145 highlighted in our morning report, where the pair could start rebounding upwards from. Momentum indicators are showing strength and were able to weaken bearish momentum through it; whereas stochastic entered oversold areas. These factors make us maintain our morning expectations intact, while noting the importance of stability above key support for the upside channel in the chart above.

The trading range for today is among the key support at 1.4090 and the key resistance at 1.4350.

The short term trend is to the upside as far as the daily closing is above 1.2795 remains intact with targets at 1.5135.

Morning Report

Weekly Report



Support1.41451.41151.40801.40501.4000

Resistance1.42201.42501.42801.43001.4350

RecommendationBased on the charts and explanations above our opinion is buying the pair around 1.4145 targeting 1.4280 and stop loss below 1.4050, might be appropriate.


Great British Pound (GBP)


Midday Report

gbp05

The pair activated positively from this morning after insuring an hourly closing above 1.6150, where this positive closing makes us expect a bullish intraday trend to continue. We currently witness a minor barrier around 1.6245 that will pave a way for more volatility through breaching it.

The trading range for today is among the key support at 1.5995 and the key resistance at 1.6325.

The short term trend is to the upside as far as 1.5315 remains intact with targets at 1.7000.


Support1.62001.61501.61001.60901.6060

Resistance1.62651.63001.63451.63851.6415

RecommendationOur morning expectations remain valid.


Japanese Yen (JPY)


Midday Report

jpy05

The pair continues stable trading above 84.00, while continuing to show overbought signs on Stochastic. Hence, we hold onto our morning expectations intact and signs to stability above 84.65 that could fail in case of a pending correction.

The trading range for today is among the key support at 83.50 and the key resistance at 86.00.

The short term trend is to the downside as far as 91.55 remains intact with targets at 77.70.


Support84.0083.5083.0582.8082.55

Resistance84.6585.0085.3085.6086.00

RecommendationBased on the charts and explanations above our opinion is buying the pair around 83.50 targeting 85.00 and stop loss below 82.90, might be appropriate.


Swiss Franc (CHF)


Midday Report

chf05

The hourly closing below 0.9235 activated the bearish scenario, while the rising wedge pattern was still affecting the pair since signs of weakness were appearing through stochastic and could return to show more negativity. Morning expectations remain valid noting the importance of stability below 0.9330 to resume expectations.

The trading range for today is among the key support at 0.9050 and the key resistance at 0.9330.

The short term trend is to the downside as far as 1.0330 remains intact with targets at 0.8000.


Support0.92000.91550.91050.90500.9000

Resistance0.92500.92800.93300.93700.9415

RecommendationOur morning expectations remain valid


Canadian Dollar (CAD)


Midday Report

cad05

The pair descended sharply from 0.9690 to currently stabilize below 0.9665 once again, where this movement along with the negative crossover on Stochastic makes us expect a bearish intraday trend to continue affecting the pair for intraday trading.

The trading range for today is among the key support at 0.9550 and the key resistance at 0.9765.

The short term trend is to the upside as far as 1.0665 remains intact with targets at 0.9000.


Support0.96150.95500.95000.94700.9400

Resistance0.96900.97550.97650.98400.9915

RecommendationOur morning expectations remain valid


 
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