Edition:  English |   عربي 
Edition:  English |   عربي 
Edition:  English |   عربي 
Edition:  English |   عربي 
U.S. MARKETS
EURO MARKETS
ASIA MARKETS
Daily Reports  Tuesday April 12 , 2011 11:05 GMT
Technical Major Currencies
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Euro


Midday Report

EUR 

The pair rushed to the upside since morning settling for consolidating around 1.4380 areas, and attempting to stabilize above the critical support at 1.4435. Stochastic is providing positive signals and accordingly we hold onto our bullish morning expectations for today as far as stability is above 1.4330-00.

The trading range for today is among the major support at 1.4300 and the major resistance at 1.4580.

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

Previous Report 

Weekly Report 



Support1.44351.43751.43301.43001.4230

Resistance1.44351.45001.45801.46251.4725

RecommendationBased on the charts and explanations above we recommend buying the pair with four-hour closing above 1.4480 targeting 1.4625 and stop loss below 1.4375 might be appropriate


Great British Pound (GBP)


Midday Report

GBP 

The pair is currently hovering around the critical support mentioned this morning at 1.4250 while Stochastic continues to pressure the pair negatively. In general, the morning suggested scenario was activated after reaching the mentioned support, while noting the importance of stability above this support for our expectations to prevail.

The trading range for today is among the major support at 1.6200 and the major resistance at 1.6500.

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

Previous Report 

Weekly Report 



Support1.62501.62001.61751.61101.6060

Resistance1.63001.63501.64001.64501.6500

RecommendationOur morning expectations remain valid


Japanese Yen (JPY)


Midday Report

JPY 

The pair rebounded to the upside after reaching 38.2% Fibonacci correction shown above; and accordingly trading remains caught among the 38.2% and 50% correction. We still need more confirmations for the direction and so we remain neutral for the rest of the day and observe trading around the support at 83.50 and 85.65 resistance.

The trading range for today is among the major support at 82.70 and the major resistance at 85.65.

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

Previous Report 

Weekly Report 



Support83.5082.7082.1581.7581.15

Resistance83.9084.5085.0085.6585.95

RecommendationBased on the charts and explanations above we remain neutral and recommend observing the pair awaiting more confirmations for the coming move


Swiss Franc (CHF)


Midday Report

CHF 

The pair is still trading with a downside bias and gradually moving south due to the positivity on momentum indicators. Fluctuations and volatility might persist before resuming the intraday bearishness for today supported by the factors mentioned in our morning reports.

The trading range for today is among the major support at 0.8885 and the major resistance at 0.9140.

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

Previous Report 

Weekly Report 



Support0.90000.89500.88850.88000.8750

Resistance0.90250.91050.91900.92350.9290

RecommendationBased on the charts and explanations above our opinion is selling the pair around 0.9105 targeting 0.8950 and stop loss above 0.9190 might be appropriate


Canadian Dollar (CAD)


Midday Report

CAD 

The pair managed to return to the descending intraday channel after the SMA 50 prevented the pair from resuming the upside move; Stochastic also provided negative signs over four-hour basis. Therefore, our intraday bearish expectations remain valid with stability below 0.9665 with targets highlighted in the previous morning report.

The trading range for today is among the major support at 0.9400 and the major resistance at 0.9740.

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

Previous Report 

Weekly Report 



Support0.95500.94950.94700.94000.9350

Resistance0.95750.96150.96650.97000.9740

RecommendationBased on the charts and explanations above our opinion is selling the pair around 0.9575 targeting 0.9400 and stop loss above 0.9665 might be appropriate


 
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