Edition:  English |   عربي 
Edition:  English |   عربي 
Edition:  English |   عربي 
Edition:  English |   عربي 
U.S. MARKETS
EURO MARKETS
ASIA MARKETS
Daily Reports  Monday April 11 , 2011 05:27 GMT
Technical Major Currencies
Share |
Euro


Weekly Report (April 11 – 15)

EUR 

The pair rushed higher and succeeded in closing above the support for the general upside wave shown above around 1.4440. This is considered a strong indication for the resumption of the general upside move, though we might witness some volatility and fluctuations with a downside bias due to the negativity of momentum indicators. Expected targets start around 1.4580 then 1.4725 and require stability above 1.4350.

The trading range for this week is among the major support at 1.4280 and the major resistance at 1.4725.

The short term trend is to the upside with steady daily closing above 1.2795 targeting 1.5135.

Previous Report



Support1.44401.44001.43501.42801.4220

Resistance1.45001.45801.46251.47251.4800

RecommendationBased on the charts and explanations above we recommend buying the pair around 1.4440 targeting 1.4625 and stop loss below 1.4350 might be appropriate this week


Great British Pound (GBP)


Weekly Report (April 11 – 15)

GBP 

The pair is consolidating above the minor descending channel’s resistance –previously breached- though now finding difficulty in breaching above the previous recorded top at 1.6400. Stochastic provided positive signs in addition to the 50 SMA that is supporting the current upside wave. Therefore, we expect a general upside move this week targeting mainly 1.6585 then 1.6700 and require daily closing above 1.6340 to prevail.

The trading range for this week is among the major support at 1.6240 and the major resistance at 1.6700.

The short term trend is to the upside with steady daily closing above 1.5315 with targets at 1.7000.

Previous Report



Support1.63401.63001.62401.62001.6150

Resistance1.64001.64501.65001.65851.6650

RecommendationBased on the charts and explanations above our opinion is buying the pair around 1.6340 targeting 1.6585 and stop loss below 1.6240 might be appropriate this week


Japanese Yen (JPY)


Weekly Report (April 11 – 15)

JPY

The pair is still trapped between the 50% and 38.2% correction as shown above, and finding strong resistance at 50% Fibonacci at 85.65 due to the negativity of momentum indicators. The SMA 50 is pushing the pair from below and accordingly we expected further upside correction for the week which requires a clear breach of 85.65 and steady daily closings above 83.50.

The trading range for this week is among the major support at 83.50 and the major resistance at 87.85.

The short term trend is to the downside as far as 89.35 remains intact with targets at 77.70.

Previous Report



Support84.5083.9083.5083.0082.15

Resistance85.0085.6585.9586.3086.90

RecommendationBased on the charts and explanations above our opinion is buying the pair with four-hour closing above 85.65 targeting 87.35 and stop loss below 84.50 might be appropriate this week


Swiss Franc (CHF)


Weekly Report (April 11 – 15)

CHF 

The dollar versus swissy continues to trade with downside tendencies affected by the bearish pattern completed with the breach of 0.9125 in addition to the negative pressure from the SMA 50. We expected the bearishness to continue for this week targeting areas from 0.8885 then 0.8750 and require steady daily closing below 0.9165 to insure that targets will not be postponed.

The trading range for this week is among the major support at 0.8800 and the major resistance at 0.9235.

The short term trend is to the downside with steady daily closing below 1.0330 targeting 0.8000.

Previous Report



Support0.90250.90000.89500.88850.8800

Resistance0.91050.91900.92350.92900.9330

RecommendationBased on the charts and explanations above our opinion is selling the pair around 0.9125 targeting 0.8950 and stop loss above 0.9235 might be appropriate this week


Canadian Dollar (CAD)


Weekly Report (April 11 – 15)

CAD 

We continue to assess the pair’s movement over four-hour basis to see that the intraday descending channel continues to control the wave, while the SMA 50 is providing further support for the channel and protects its resistance; Stochastic also provided bearish signals supporting the mentioned negative factors. Therefore, we expected a downside move for this week targeting next areas of 0.9350 though breaching areas of 0.9605 might delay the awaited targets.

The trading range for this week is among the major support at 0.9300 and the major resistance at 0.9745.

The short term trend is to the downside as far as 1.0665 remains intact targeting 0.9000.

Previous Report



Support0.95500.94950.94700.94000.9350

Resistance0.96050.96650.97000.97450.9795

RecommendationBased on the charts and explanations above our opinion is selling the pair around 0.9605 targeting 0.9400 and stop loss above 0.9745 might be appropriate this week


 
Note: Our website content is subject to errors, changes and updates; the use of the websites constitutes your acceptance of our Privacy Policy

Risk Disclaimer: The content of icn.com and any page in the website contain information for investors/traders and is not a recommendation to buy or sell currencies, stocks, gold, silver & energies, nor an offer to buy or sell currencies, stocks, gold, silver & energies.

The information provided reflects the writers' opinions that deemed reliable but is not guaranteed as to accuracy or completeness. ecPulse is not liable for any losses or damages, monetary or otherwise that result.

I recommend that anyone trades currencies, stocks, 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, stocks gold, silver & energies presented should be considered speculative with a high degree of volatility and risk.
2012 ICN.COM All Rights Reserved.