Edition:  English |   عربي 
Edition:  English |   عربي 
Edition:  English |   عربي 
Edition:  English |   عربي 
U.S. MARKETS
EURO MARKETS
ASIA MARKETS
Daily Reports  Monday February 13 , 2012 05:23 GMT
Technical Major Currencies
Euro


Weekly Report 13/02 – 17/02/ 2012

 

The pair has declined violently on Friday closing below the pivotal level of 1.3230. Indeed, the candlestick structure formed with the weekly closing should bring further downside movements supported by the negativity appearing on Stochastic. But, the pair has opened with a gap as seen on the secondary four-hour graph; thus, we will stay aside until the price behaviors define the kind of this gap. Note that coming below 1.3155 -Friday's low- will trigger a panic sell-off while clearing SMA 100 may negate the bearishness on Stochastic.

The trading range for this week is among key support at 1.2860 and key resistance at 1.3550.

The general trend over short term basis is to the downside targeting 1.1865 as far as areas of 1.3550 areas remain intact.

Previous Report



Support1.31901.30701.29751.29251.2860

Resistance1.33151.33751.34101.35001.3550

RecommendationBased on the charts and explanations above our opinion is, staying aside until an actionable setup presents itself to pinpoint the upcoming big move.


Great British Pound (GBP)


Weekly Report 13/02 – 17/02/ 2012

 

Cable has moved sharply downwards achieving a negative daily closing below the pivotal level of 1.5785 as seen on the provided chart. The subsidiary image shows the bearish candlestick patterns formed during the past three days. At the same time, RSI 14 over four-hour interval shows stability below the value of 50.00 and thus, the correctional second wave of the suggested Elliott might have been limited around 1.5925 zones. In result, additional bearishness might be seed during this week but not before clearing 1.5730 areas decisively.

The trading range for this week is among key support at 1.5370 and key resistance at 1.6165.

The general trend over short term basis is to the downside targeting 1.4225 as far as areas of 1.6875 areas remain intact.

Previous Report

Harmonic Overview



Support1.57301.56301.55851.55151.5460

Resistance1.58801.59351.60001.60751.6165

RecommendationBased on the charts and explanations above our opinion is, selling the pair below 1.5730 targeting 1.5420 and stop loss above 1.5935 might be appropriate.


Japanese Yen (JPY)


Weekly Report 13/02 – 17/02/ 2012

 

The pair has closed above 50% Fibonacci retracement of the entire upside rally from 75.50 to 79.50 zones after reaching all upside technical targets proposed during the past week. Actually, the bullish journey which we caught when RSI 14 has formed the positive divergence around 76.00 zones has taken momentum indicators towards overbought areas. Therefore, we will stay aside until the pair unloads the negativity of indicators to enter the new upside wave in the proper time since the weekly basis is defiantly positive and we will discuss that in the coming reports.

The trading range for this week is among key support at 76.00 and key resistance now at 79.55.

The general trend over short term basis is to the upside targeting 87.45 as far as areas of 75.20 remain intact.

Previous Report



Support77.3076.9576.7076.4076.10

Resistance77.9078.3078.4578.9079.15

RecommendationBased on the charts and explanations above our opinion is, staying aside until an actionable setup presents itself to pinpoint the upcoming big move.


Swiss Franc (CHF)


Weekly Report 13/02 – 17/02/ 2012

 

The pair has inclined achieving a daily closing above the middle line of Keltner channel on Friday while Stochastic and RVI 14 remain positive as seen on the provide daily chart. Therefore, the pair may move higher during this week but not before penetrating 0.9175 zones in order to support the bullish scenario. Our bullish predictions depend on the solidity of the support areas between 0.9105 and 0.9030, the bullish candlesticks formation and the positivity of indicators. A break above 0.9210 will assist bulls to support their long positions.

The trading range for this week is among key support at 0.8875 and key resistance at 0.9400.

The general trend over short term basis is to the upside targeting 0.9950 as far as areas of 0.8850 areas remain intact.

Previous Report



Support0.91050.90300.89850.89200.8875

Resistance0.91750.92100.92600.93100.9360

RecommendationBased on the charts and explanations above our opinion is, buying the pair above 0.9175 targeting 0.9400 and stop loss below 0.9030 might be appropriate.


Canadian Dollar (CAD)


Weekly Report 13/02 – 17/02/ 2012

 

The pair rallied on Friday to reach levels just below 1.0050 resistance and reverse again, the rally grabbed the price to end the week above the 200-days SMA, while Stochastic is leaving oversold areas attempting to gather bullish momentum. Meanwhile, we are still trading below some key technical resistance levels among 1.0050-1.0075; accordingly, we will remain on the sidelines this morning awaiting further developments.

The trading range for this week is expected among the key support at 0.9890 and the key resistance at 1.0075.

The short term trend is to the upside targeting 1.0650 with steady daily closing above 0.9900.

Previous Report



Support0.99900.99300.98900.98600.9830

Resistance1.00151.00501.00751.01001.0130

RecommendationBased on the charts and explanations above, we recommend staying aside awaiting further confirmations.


Australian Dollar (AUD)


Weekly Report 13/02 – 17/02/ 2012

 

After testing areas above the ascending support of the main short term ascending channel around 1.0650; the pair rebounded this morning to test the key intraday resistance at 1.0740. Stochastic is gaining bullish momentum, while RSI found resistance near 50 level, a breach above 1.0740 resistance alongside confirmation by RSI crossing 50 shall indicate further bullishness for the session, while over weekly basis we anticipate the upside bias to remain dominant however 1.0650 should remain intact over daily closing basis to maintain our outlook.

The trading range for this week is expected among the key support at 1.0600 and the key resistance at 1.1000.

The short-term trend is to the upside targeting 1.1079 so long as 1.0130 remains intact.

Previous Report



Support1.06701.06251.05701.05301.0500

Resistance1.07351.07801.08201.08501.0900

RecommendationBased on the charts and explanations above, we recommend buying the pair around 1.0670 targeting 1.0735 and 1.0840 with stop loss below 1.0600


New Zealand Dollar (NZ)


Weekly Report 13/02 – 17/02/ 2012

 

The pair retested the breached resistance which turns into support now around 0.8250 to rebound once more, this horizontal level coincides with the main short term ascending trend-line, the rebound from this potential support suggests further gains over intraday basis, however over the weekly time horizon some negativity is seen on momentum indicators as Stochastic has been extremely overbought and currently attempting to leave overbought areas, while MACD is attempting a bearish crossover.

The trading range for this week is expected among the key support at 0.8225 and the key resistance at 0.8550

The short-term trend is to the upside, targeting 0.8840 as long 0.7600 remain intact.

Previous Report



Support0.82850.82400.82100.81750.8150

Resistance0.83500.83800.84000.84250.8450

RecommendationBased on the charts and explanations above, we recommend buying the pair around 0.8285 targeting 0.8350 and 0.8400, stop loss below 0.8225.


 
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