Edition:  English |   عربي 
Edition:  English |   عربي 
Edition:  English |   عربي 
Edition:  English |   عربي 
U.S. MARKETS
EURO MARKETS
ASIA MARKETS
Daily Reports  Thursday April 21 , 2011 06:07 GMT
Technical Major Currencies
Euro


Morning Report

EUR 

The pair breached the critical resistance at 1.4520 with attempts to consolidate above it. Momentum indicators provided negative signals that might cause volatility around this level that turned into support. In general, we expect the intraday bullishness to prevail today, supported by the SMA 50 and trading within the main ascending channel. Breaching areas of 1.4520 will delay the upside move that initially targets 1.4725.

The trading range for today is among the major support at 1.4400 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 

Weekly Report 



Support1.45201.44701.44001.43351.4270

Resistance1.45801.46251.47251.48001.4850

RecommendationBased on the charts and explanations above we recommend buying the pair around 1.4520 targeting 1.4725 and stop loss below 1.4400 might be appropriate


Great British Pound (GBP)


Morning Report

GBP 

The pair broke through 1.6400 to continue trading ideally within the main ascending channel, signaling further intraday bullishness for today. The negative momentum pressure might cause fluctuations with a downside bias before resuming towards targets starting from 1.6585. Stability above 1.6310 is required for our expectations.

The trading range for today is among the major support at 1.6310 and the major resistance at 1.6550.

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

Previous Report 

Weekly Report 



Support1.64001.63101.62801.62501.6200

Resistance1.64501.65001.65851.66501.6700

RecommendationBased on the charts and explanations above our opinion is buying the pair around 1.6400 targeting 1.6585 and stop loss below 1.6310 might be appropriate


Japanese Yen (JPY)


Morning Report

JPY 

The pair is trading with a downside bias below the SMA 50, where we believe it is on the way to retest the breached resistance for the descending channel that turned into support at 81.35. In general, we expect an intraday upside move today supported by the positivity on Stochastic which supports the strength of the retest level awaited at 81.35. Targets start with 83.50 then 84.50 while breaching 81.35 will extend the downside move that ended temporarily for the current upside correction.

The trading range for today is among the major support at 81.35 and the major resistance at 84.50.

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

Previous Report 

Weekly Report 



Support82.1581.3580.7580.2080.00

Resistance82.7083.5083.9084.5085.00

RecommendationBased on the charts and explanations above our opinion is buying the pair around 81.35 targeting 82.70 and stop loss below 80.20 might be appropriate


Swiss Franc (CHF)


Morning Report

CHF 

The pair is stable below the critical 0.8900 and accordingly we see the door open for resuming the suggested downside move in our previous reports. The SMA 50 supports the intraday bearishness, while volatility might be seen around the breached level affected by the positivity on momentum indicators. Stability below 0.8980 is essential for our expectations to remain valid targeting initially 0.8700.

The trading range for today is among the major support at 0.8700 and the major resistance at 0.8980.

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

Previous Report 

Weekly Report 



Support0.88100.87500.87000.86700.8600

Resistance0.89000.89500.89800.90750.9105

RecommendationBased on the charts and explanations above our opinion is selling the pair around 0.8900 targeting 0.8750 and stop loss above 0.9005 might be appropriate


Canadian Dollar (CAD)


Morning Report

CAD 

The pair stabilized below the minor breached support at 0.9525 which is a good signal for returning within the main descending channel shown above. Stochastic is trending downwards yet entering oversold areas, which might push the pair slightly higher to retest the support mentioned before resuming the intraday bearishness, targeting 0.9350 and 0.9300. Breaching areas of 0.9525 will delay the downside targets until the pair unloads the negativity on momentum indicators.

The trading range for today is among the major support at 0.9270 and the major resistance at 0.9600.

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

Previous Report 

Weekly Report 



Support0.94700.94000.93500.93000.9270

Resistance0.95250.96000.96650.96950.9715

RecommendationBased on the charts and explanations above our opinion is selling the pair around 0.9525 targeting 0.9350 and stop loss above 0.9600 might be appropriate


Australian Dollar (AUD)




Support

Resistance

Recommendation


New Zealand Dollar (NZ)




Support

Resistance

Recommendation


 
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